Topic: 💥SOLARIS XLR💥100% PoS + Masternodes ⚡Zerocoin⚡txbit.io in development - page 132. (Read 308915 times)

Thank you! Well, I have some XLR myself, so I'm excited to see how this all works. I've been curious with Dash, but I don't have $1 million dollars. (I'll have that in a couple of years if this all goes well, LOL.) Not counting what I'm hodling for y'all.

There needs to be a how-to-do-XLR-proposal guide or something, how to pay that 50 XLR .......... how to vote ... what happens if it's not approved (you probably lose the 50 XLR, so not too many are going to make nonsense proposals.)

Devs of the project seems to fighting with codes in their coding caves. I really hope that the upcoming exchange will surpass Binance in the future.

This is great Dabs.
You serve the community as escrow and you go further to serve the community by providing such relevant info. I like that .
The budget system is activated already however no one has made any proposal so far for masternodes to vote on. On the other hand we do not need any budget proposals now because we have premine funds with your reputable escrow for Solaris poject.
Also if a proposal is made, MN payouts will reduce slightly because as it stands now, budget system reward goes out to masternodes since there is no approved budget proposal.
Making a budget proposal requires 50 XLR

Excited to see txbit.io announcement! I was not expecting that so early. Again a great project and a great team. Best wishes from me 

Therefore, the probability of de-centralized likely and almost bigger than the probability to be centralized. Thanks for the thread, which is very meaningful, high qualitied one.

waiting airdrop. i will try to mining.

Thank for your specific explaining how the mechanism of masternode voting system actually works. It is likely to satisfy my curiosity.

It could only be centralized if the majority of masternodes were owned by one person/group... and that is not going to happen. Masternode owners are spread all over the world and will likely remain at least as decentralized as they are now, if not more so in the future.

It is not likely to be centralized, right? Thanks for your thread, which help me to understand clearer about the mechanism of masternodes voting.

The budget system hasn't been activated yet, as we still have funds held in escrow, but I would guess that the masternodes vote on who gets the budget. Then the rewards go to that address. The details, I'm not sure of, it may be similar to how other masternode coins work.

It's a method for allocating funds from the Solaris blockchain's block rewards to projects that support the Solaris network.

So, for example, we (the masternode owners) could vote for proposals, such as paying Salaries to the XLR Core Team. Usually, that's a good idea. Others could be marketing initiatives. Owners can vote to fund projects such as the announced exchange or vote changes in the system like block size increases (as was done with Dash) but we might not need those things considering we have 1 minute block times already.

If we take a cue from other masternode coins, I am guessing that proposals will require a certain amount of XLR to submit, maybe that's 5 XLR (I don't know the number, I am just guessing.) Then masternode owners vote either "Yes" or "No", and the net votes must exceed a certain percentage of all masternodes, so maybe if there are 600 nodes, any proposal will require maybe 10% or 60 net votes (yes minus no). Again, I don't know the numbers, maybe it's in the source code somewhere.

What can be said of the budget system and masternode governance is that it isn't a democracy. Since only the masternode owners can vote, you need to have at least 1000 XLR to vote. Since you need to be a significant investor, you are naturally incentivized to work for the good of the project.

It's also very expensive to try to force a Yes or No vote because that would require one person or group to have a lot of masternodes. If "they" do have the resources, it would be in their best interest to keep the network healthy and to make the charts go to the moon. (or the Sun.)

Yeah it's excellent! I already use it and bought part of my XLR there.
And withdrawals are made faster than at coinexchange.
However I didn't exactly understand about 25% and how the market maker program works.

Is there any detail on how the MN budget system works? I see it mentioned here and on the website but I'm curious how it actually works.

Not sure if anyone already posted but you can now trade XLR on the new and upcoming decentralized exchange, Cryptobridge. It is the safest exchange out there as the exchange do not have access to your wallet keys, only you have control of your coins! Would recommend withdrawing your coins to Cryptobridge from the centralized exchanges with all the recent security issues.

https://wallet.crypto-bridge.org/market/BRIDGE.XLR_BRIDGE.BTC

They also pay you to trade there, 25% of the exchange profits go to market makers. Happy trading!

Do not deposit any money to Koinbi!

You won't be able to withdraw!

Koinbi is a SCAM!!!

Wow thanks for the guiding steps. I have finished. Hope that scam exchanges like this one will be taken down forever.

FYI for anyone who uses Time4VPS to host their Masternodes.  I just found that both of mine were offline this morning.  Looking closer I found that I received an email stating that they were performing maintenance to migrate to new servers. Check your nodes to make sure they are running, if your VPS was affected make sure you log i and make sure your nodes are running.

Payouts keep failing. Is there still a problem?

Thanks for early warnings about Koinbi exchange.

No problem. His spam-scam annoys me.
These prices are fake to encourage to arbitrage. Which is almost impossible nowadays because of many bots whichare doing it faster than users.

Thank you very much for this, i just sended.
And for the people who wanted to try because of the high prices at this exchange, always remember, If it seems too good to be true, it probably is.