Topic: MGN/MGNX - MASTERNODES - ZK SNARKS - ATOMIC SWAPS - MULTI CHAIN AIRDROP - page 3. (Read 2810 times)

1) 100% premine? How do you expect to carry out an airdrop on a completely new chain, if there are no coins to drop in the first place?

2) 11,000,000? Forgetting the additional 216k that will be produced by the time the airdrop is up?  Also, it has not been determined how these extra leftover coins will be distributed, or burned even. That's up to the community. 

2) You need to look at the chain parameters. No coins will be mined after block 2,629,800 and inflation lowers every 525,960 blocks (1 year or so assuming 60 second blocks).

3) Of course development will happen, except this time we'll indirectly reap the benefits from any advancements in development on Komodo asset chains. I have already been in talks with one of the core devs over securing the chain with dPOW via chain notarization. Also, the ability to create your own token ecosystem on the asset chain itself, using a colored coin system.

4) The asset chain has been started early, so that we can account for any errors that pop up. It was only last week that the KMD team were testing PoS chains. In fact, they have already run into a PoW algo adjustment bug, which will most likely mean a chain restart. This could continue all the way up to the day of distribution. 

4) The value is partially derived from peoples willingness to trade back from MGNX to MGN and vice versa. Obviously some airdropped coins could be theoretically sold off on other trading pairs, but the most likely scenario is that people are going to be channelling liquidity through the MGN - MGNX atomic swap pair.

5) That is correct, but the old chain does. The old MGN is intended to run forever and compliment the MGNX asset chain. It has nothing to do with the original roadmap? Except it fulfils our ultimate goal of achieving atomic swaps with any asset on the BarterDEX. 

Watch out with this one!

- Magnacoindev and ZAP cleaned out and abandoned their last project
- This new Komodo chain is 100% premine, giving her a lot of coin to dump on you
- They premined 12 000 000 coins while only 11 000 0000 were needed for airdrop, giving her 12% of the premine + all coins that are not claimed
- The chain has an infinite coin supply
- No future development will happen, just like last time
- While long term hodlers have to wait on their airdrop until August 10, some Komodo members have already mined/staked over 90k coins in a couple of days
- This chain is absolutely not linked in value to the old chain
- The new chain does not have masternodes, it’s not even a PIVX fork anymore, it has nothing to do with the original roadmap but is just using the Magnacoin name to try and drive up price

Keep your monies safe people!

Just compiled Windows binaries of latest (203eccbd0200d636ffa4b12fd1ed791149636ebc) komodod from dev branch:

mgnx-cli-win-26072018.7z

SHA256: dd27aa95aaee9ebe5b9db7fb9ae77e967ae372d100bfa64059a2aa1ab1112a79
VirusTotal: https://www.virustotal.com/#/file/dd27aa95aaee9ebe5b9db7fb9ae77e967ae372d100bfa64059a2aa1ab1112a79/detection

Archive includes:

• komodod.exe - Komodo Daemon
• komodo-cli.exe - Komodo Cli Tool
• mgnxd.cmd - batch for start MGNX
• info.cmd - batch to pereodically display wallet / mining / balance info
• fetch-params.bat - batch to automatically fetch required ZcashParams files

This is all you need to start with MGNX on Windows. May be it helps to somebody who want to use CLI on native Windows.

You should use the latest dev branch that should let you sync. If you already have a a chain just wipe it ( save your wallet)

i can not sync with komodo cli

Install Komodo manually -  https://docs.komodoplatform.com/komodo/install-Komodo-manually.html

./komodod -ac_name=MGNX -ac_supply=12000000 -ac_staked=90 -ac_reward=2000000000 -ac_halving=525960 -ac_cc=2 -ac_end=2629800 -addnode=45.32.236.224

To setup your node to start mining blocks. You'll need a VPS server because these features are only available via the client and not GUI yet. 

Dear MGNX Team,

I setup a

Insight Explorer:

http://mgnx.explorer.dexstats.info

Seed node:
78.47.205.239

Richlist (regenerated each 15 minutes):

https://dexstats.info/richlist.php?asset=MGNX

(JSON Snapshot of the whole chain https://dexstats.info/snapshots/MGNX_snapshot.json )

Transparent and Shielded as well as total Coinsupply Info

http://explorer.dexstats.info



Good decision to go for a KMD Assetchains

Would you be interested in getting your chain notarized on BTC chain in the future using KMD dPOW technology? KMD has been helping projects getting more secure against 51% attack by dPOW, including gamecredits, veruscoin and others. Also dPoW actually is important for future scaling as scaling chains use dPoW to secure themselves as they are added. Join KMD discord to discuss more https://discord.gg/k2qRPD

5,800,000 MGN circulating supply
12,000,000 MGNX is the premine. The amount airdropped is just double the number of coins located at that address on the day of the drop. No snapshot needed.

MGNX also has an increasing supply up until block 5.2 million or so. 90% PoS / 10% PoW split. Check out the specs infographic.

MGNX  is not directly affiliated with Komodo. We are using their infrastructure to create an independent asset chain that will work in harmony to perform ZK-Snarks and atomic swaps with Magna coin.

I believe that a new project was initiated by the Komodo platform, because there have been many successful projects initiated by Komodo.

The Airdrop model and MGNX coin generating scheme is a bit unclear.

So if we have 6 mil MGN on the Magna chain, there will be the posibility to drop up to 12 mil MGNX on the Komodo chain if all addresses Holding those 6 mil MGN were registered for aidrop ?

What happens after airdrop ? Will MGNX be dropped further while the old chain still generates MGN ?

The komodo MGNX chain starts at block 1, with those 12 mil Airdropped coins ?

Or is a fixed number of MGNX allready premined ? If there is a premine done, how do you know how much MGNX to premine, since the Supply of MGN increases with each block. Is there going to be a snapshot Happening for the Airdrop ?

And MGNX Held in the agama wallet will generate coins same as Komodo Held in agama wallet generates Komodo ?

Looking great! Been accumulating MGN for a while now and looking forward to the 2:1 air drop!!

Aha, thanks for Clearing this one out.
Make sure to let us know when the Komodo Wallet Update kicks in. Everyone will Need to download the new Version i think.

It's optional. It would be easier and less confusing to use your KMD address for signing the message, however, the message content can technically be anything.

As ive read in discord MGN chanell, Komodo will do an update for their POS coins, and MGNX will be listed on the list. Somethis this next week, we should have a new wallet version.

Can we sign our Magna Address with a text that is something else as the KMD address ? We are basically using the KMD address to sign the MGN address, generating a signature string, am i right ? But we can use any other "text" to sign the MGN address, right ?

If you have a bounty available for spanish translation and/or for promoting your project (in english and/or spanish crypto channels) I would like to reserve it!, this is my portfolio and my previous works and the list of crypto channels where I can promote your project

http://bit.ly/2HvGwNx

Please let me know if you are interesting with a pm, thanks and good luck with your project!

The chain has not been integrated into the Agama wallet yet, but your KMD address will remain the same.

yes same here