Topic: BitBay OFFICIAL BITBAY Thread Smart Contracts Decentralized Markets Rolling Peg - page 16. (Read 542196 times)

Actually, CoinGecko is not doing that because of the supply, they are doing it because of low liquidity and not enough exchanges and volume to justify the high ranking. They would list circulating supply as normal except they are doing this due to low liquidity levels. Also they didn't feel like the volume of Latoken was genuine.

CoinGecko is presenting a realistic view of BitBay.

Circulating Supply:          ? / 1,029,153,366
Market Cap:                    ?
Market Cap Dominance:   0.00%
Market Cap Rank:            #4937

The only people I see presenting a grossly exaggerated market cap are members of the BitBay community.

For example:

Wishful thinking

When the supply increases then reserve can convert to liquid. If you chose to sell your liquid then your reserve balance would be zero. If you want to trade reserve coins you can on the BAYR market.

It wasn't our decision, they were made aware of it and they chose to leave it as is. And CMC is too busy deleting our charts for no reason let alone to make a special service just for tracking it. Did you not read the part when I said that we TOLD CoinGecko about it? What, would you prefer that we don't show on any charts anywhere? I explained the options and they chose this one.

hi, is there anybody who can tell me when I will be able to transfer BAY from my QT wallet? It is more than 2 months and my Spendable balance is almost 0, whole balance is in Reserve. I do not stake and I do not have any tx in/out last 2 months. When will my wallet let me use my coins?

Seems a little deceptive to market the coin that way, lauding a grossly exaggerated market cap. Same with all the volume being wash trading, but i guess you gotta do what you gotta do...

Yeah however they would need to track it to be totally accurate and also list BAYR as another market. Or they can add both marketcaps based on prices.
When we told coingecko about this they decided to leave it as is and let the BAYL price reflect marketcap. To us its fine either way because its good marketing if they choose to leave it as is.

I agree ^^. Multiplying the price of BAY-L by the total supply doesn't accurately reflect the market cap, not even close...

They only count BAYL and ignore BAYR. I think this method of evaluation is correct.

You can't make market cap go up by restricting liquid shares, but you can control share price volatility that way. Low volatility is our claim to fame.

Does this mean that the peg-compatible webwallet can be integrated into Blocknet DEX?   

And is there an ETA for a peg-compatible Android wallet?

Yeah I feel like we have dealt with many years of censorship. Such an important innovation and our charts PROVE that we are able to curb volatility. Yet almost no articles about it. Is the news really "pay to play" nowadays? I have some doubts and feel like maybe we are being interfered with.

With that said CoinGecko felt we didn't have enough buy support.

Liquidity providers might change all of that and open all of these doors. That's the only reason I've taken an interest in it. We have the product, now all we need is users.

Note that anyone who provides liquidity or large scale investment is an independent agent which is perfect for a decentralized project. They can if they want just support it on exchanges or even off the exchange and they should be able to make great money doing it as we have no competitors in the land of decentralized anti-volatility

@David Zimbeck
@BitBayDoc

Thanks for the responses to my query re CMC; very much appreciated.

I notice, however, that BAY receives the same treatment at the hands of CoinGecko.  Where it should be listed at 38-39 or so, it is reported as occupying position 4271!!   

Something smells decidedly fishy....

Yes that's why we can't just list on any exchange. They have to track it to guarantee withdraws. We designed a demo exchange just to show exchanges how to do it. So changes in ratio of BAY/BAYR are tracked for every user. Its precise. Like if you buy liquid right now on Latoken then that is the "premium liquid" and it stays liquid longer especially if you withdraw it from the exchange. However yes, your BAYR deposit if some of it switches to BAY it will happen automatically.

As for tracking the QT wallet shows you in real time the votes. I really need to add that to the Halo wallet but currently the Halo/Markets wallet doesn't show the current votes, it just shows the supply. The QT wallet also has a way to visualize your account inputs to see exactly how many coins would switch at each peg index.

Most stakers vote for the "algorithm" which tracks 20 cents with a 1% monthly increase in floor with the potential to set new floors on dramatic pumps. This algo may be subject to change but it's working really well so far! We are in fact 20 cents just like we promised. I feel like that is one of our greatest accomplishments considering we proved we can do it without any liquidity and low volume. Imagine what we can do with liquidity!

Users are free to diverge from the algo and sometimes they do for certain reasons. For now, it makes the most sense to hold the price.

If the price goes above 22 cents roughly it triggers inflation and thus some BAYR coins from some of the users might convert to BAY depending on their liquidity array.

Just 1 detail: will BAYR become BAY automatically, on Latoken, itself?
Or should I instruct it somehow?

Also, how and where can I detect what did stakers decided/voted?

The coins will receive as reserve in Latoken in one month. You can then trade them on BAYR markets.

If supply changes and increases, some coins may become BAY. If the supply decreases some BAY coins shift to BAYR

The ratio of BAY/BAYR changes when the supply changes. Supply changes happen due to stakers voting when winning a stake.

The more liquid a transaction is, the more likely it will stay as BAY longer. The less liquid, the more likely it stays as BAYR longer.

This always depends on the liquidity shards in the array of the coins you sent. This can be seen very clearly in the QT block explorer.

Thanks for such detailed explanation, appreciated.

So, to sum up in simple way: I`ll receive my coins in Reserve account in Latoken, can`t do anything by myself, these coins will be slowly, automatically, part by part transfered to Liquid address in Latoken, "when time comes".
Where am I wrong?

Exactly - Thanks David.
Yes, I was referring to our charts being fully restored.
And yes, we should be #39 on CMC based on our market cap!

That's not an option in the wallet. The option is to simply send reserve to another address which locks it for a month. You should really read up on the mechanics of the peg.

https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528.pdf

That pdf explains how it works.

If you already sent reserve then in one month you can trade it based on the liquidity shards, chances are it will be mostly reserve unless inflation happens and some becomes liquid. You can not change a coins liquidity shards by sending it, the recipient gets exactly what you sent.

The allocation of liquid/reserve is determined by the supply and the liquidity shards. So at the start of the peg all inputs are considered new and have 1200 liquidity shards each containing 1% compound except for the last shard which contains the remainder. Then the supply starts at 0 index which means 100% liquid and 0% reserve for all users.

Then as users vote to deflate shards in that array are converted to reserve, and they would convert back to liquid upon inflation.

The reserve coins can be sent with one month time-delay and that has no effect on their liquidity shards so upon receipt their ratio of BAY/BAYR is still determined by the supply index. In other words, you send precisely what you send. In fact, each time you send every tiny little shard in the array that you are sending is accounted for and tracked. So the precise liquidity and speed of inflation/deflation of each transaction is known down to the last satoshi.

There is no way to game this system. The supply index is what determines how many coins are in circulation and it's fair as it effects all users and all users have influence on the supply index when they stake/vote.

If it`s impossible to turn reserve to liquid, why there is such option in wallet?
I already waited 1 month for this exchange: Reserve to Liquid..  (Whole April)

1. What can I do now?  Why should I loose 1 more month now and even after that, it will stay in Reserve?
2. Who decided to allocate coins reserve/liquid - on the start of dynamic peg?

Yeah exactly, if you sent reserve to Latokens receive address it will be locked for a month and when confirmed it will still be seen as reserve if the supply remains the same.
You should read up on the peg to see how it works. The supply is dynamic and controlled by the community. This is what protects the price.