Topic: (XF₲) Fuego 🔥 Decentralized Privacy Banking Network (POW) (Read 33121 times)

Keep it Up mate 

Even still, I vow that we are going to the multiverse this year.
If i cant code it, i'll hire a brilliant mind who can.
And although its been proven i'm not too good at crowdfunding-
i just might be very good at private funding...
and boy what a return to be had from a backlog of innovation such as ours.
Still here.

as for this idea - we'll close it. however, the total amount of lost XFG will actually work to our benefit as a built-in limiter to the possibility of over-minting wXFG thru the burning of actual XFG.
(burn XFG --> print wXFG ---> add back burned XFG to block rewards) working thru engineering of it; most promising.  i like it.

YES! Exactly my friend. Slow play here...lots of things happening on the decentralized EVM platform horizon...letting things settle a bit before jumping in too heavily. Got a few in mind. Holding fast before the deluge. Until the entire world is using cryptocurrency- Fuego is still far ahead. fire emoji

There are a bunch out there I like the BNB Smart Chain but for now there are a ton of layer 2 you can choose matic or optimism zkSync. There is so much that I can mention all of it. But you can start from BNB smart chain the bnb is on the top 5 by marketcap after you finish one evm that would be easy for you to build on multiple chain

just like marve movie the mutliverse  

Happy Birthday for Fuego and may the force be with you

Happy Fuego Day (Jan 8th) 6 years strong.
Went ahead and acquired usexfg.org domain for a few years. Happy launch anniversary!  fire emoji -ÆJT

usexfg.org

terima kasih teman!
I agree, there are a lot of better options available for fees. And thats a cool bridge, i like idena project too....however, for XFG i dont think i personally will work on building a bridge to go back and forth.

EDIT:
I am, however, digging the concept of burning XFG to mint wXFG...then adding the burned XFG amount back to on-chain supply via block reward...like a dynamic floating supply but still capped at 8M8.

From my perspective, wXFG is only for decentralized pricing and/or liquidity....so unless i'm missing something, by using the burn/mint model above, i don't see why our community would need to bother going back to chain XFG from wXFG. If we want to sell XFG, then burn it to mint wXFG and sell that.  And if we want more actual XFG, then mine it



Anyway,
what are some low fee EVM chains that you like?

Finally, you made the decision 

Just another advice you can deploy it on a popular chain like BNB Smart Chain or even ETH right now but I would highly recommend that the coin should be on a Cheaper fee chain. oh you can take a look this example of bridge https://bridge.idena.io/

So that we aren’t waiting on the full development of COLD smart contract(s) before starting wXFG…
I wanted to submit a proposal to the Fuego community….which begins in a land far away called Yap Island...


One of the references in the Bitcoin (and sound money) ideology is how Yap’s currency (Rai) is based on those giant stones.
The aspect i wish to highlight now is about the giant stone that was lost at sea during transport...  since the giant stones are used as a type of collateral anyhow ( and don't move once they are brought to the island ) everyone at the time agreed that even tho it was lost during transport and lay sunken on the seabed- it was (and still is) used in their system of value all the same.  More Yap info here.

Same idea basically :

I propose we use a % of total community amount lost of XFG (or DRGL) as a result of centralized exchanges for the initial minting of wXFG.
Anything beyond the initial mint, we'll collateralize in deposits.

I lost a cool 80,000 DRGL/XFG (prob a lot more tbh) in just the FirstCryptoBank rug/hack alone back in 2018-19.
And for that matter, lost some amount of XFG on every. centralized. exchange. listing/hack/rug thereafter-...mostly from providing basic liquidity...but not entirely.  I kept a record of most of the amounts in XFG discord, or on here....so, thought we'd try to glean an estimate of total lost XFG..because of CEXs.  Just an idea...


If you agree with the proposal, and have lost XFG (or DRGL) as a result of a CEX hack/rug, make a public post that includes :

• which exchange hack/rug
• how much XFG u lost
• and on which EVM you want to mint your wXFG.

Or if you disagree with the proposal, let me know.
The whole foundation of the idea is rooted in the social contract of the community agreeing on the validity of the events (FCB, Altilly, TradeCX, and so on...) and the likelihood of each person losing the declared amount.

I'll give it a month or so, say..30 to 45 days from now and we'll see where we are, then go about minting wXFG.

When the script is ready you can deploy it on any EVM chain available out there with a little bit of tweak and start adding DeX liquidity with your wrapped coin.

Original Coin has no need to burn but the wrapped version can be burned

because your coin supply is limited you dont need to burn the original coin instead save the coin on cold wallet or something.

the wrapped token is flexible you can take a look at this example

i agree. in the works... thought about building a model to make COLD (and other DAO tokens) burnable to mint wXFG.
but it might be a better use for the burn_XFG_deposits scenario above as the way to mint wXFG, instead of COLD...good idea

thanks. measure twice, cut once + slow and steady wins the race.

Make a Wrapped version of your coin on other chains to make your coin alive. I'm surprised that you the developer still alive after making announcement in 2018

mentioned in discord:


been thinking about making some fundamental changes to Fuego which to some, might go against its founding principles of inflation or removing the hard cap...and while i believe it is important to never give up- it may be equally as important to be adaptable....so the idea is this:

What if our XFG deposits never unlocked...?? but rather burned (fire emoji )

however since with CN protocol there isn't a way to burn or destroy coins - we aren't technically burning them- instead the amount of all burned-deposits could be added BACK toward total supply and increase future block rewards. The burn total stays separate from circulating supply then total supply (and block reward) would be dynamic based on burn total + original 8M8. So its more akin to recycling than burning by technical definition...which is what makes it not so much like inflation...as in:  it doesn't just come from nowhere like printing out of thin air....but rather comes from an actual sacrifice.

And instead of making COLD inflationary like previously planned, we can keep the original idea of a rigid fixed-cap supply (80)

I, of course, will fix any current deposit issues of withdrawal first so everyone can unlock/withdrawal any deposits already made beforehand...but after that - i'm thinkin we make a hashrate vote between versions (new Fuego burn deposits into inflation vs. current Fuego capped supply) since the only real way to vote on Fuego is running a node. We can keep unlockable deposits too, but major changes to total supply cap would still be the voting issue at hand.

NOTE: It would also void a statement i made post before last about being able to redeem interest in COLD for all deposits completed prior to launch, however they could still redeem interest in another COLDAO asset. But the only way to redeem for COLD would be burning XFG

More later, just wanted to put the idea out there for now. Let me know what yall think

a great pool! ty for the service!

bro...lol   

ohhh
it is scam coin

The pool will be closed soon.
http://xfg.ms-pool.net.ua/#

had mentioned in discord already but wanted to post an update here as well.
about relaunching COLD : as we are relaunching to a new chain for interest redemption on XFG deposits, i decided to go ahead and nullify all previous Tron COLD tokens- as in no swap will take place.....i had allocated/distributed tokens to Elder Nodes as well as some early supporters, but because of the ico-style of launch + recent events of SEC on a witch-hunt + the whole scope of COLD banking suite has grown in concept to potentially be a legit grandiose financial service - it deserves to be started as legitimately decentralized as possible.

Which means no one will be able to receive COLD tokens prior to the re-launch - in such that the only way to receive COLD tokens must be thru the smart contract : either by interest redemption protocol or possibly thru LP mining. (more details on the interest protocol in discord COLD-discussion)

Hope not to offend anyone, i know it sucks to nullify tokens- but i figured those who do hold any Tron COLD would a) already have enough XFG to be able to immediately cash in some completed deposits* at launch anyway, and 2) would ultimately want the gain in legitimacy even if it means zeroing out everyone to equal the playing field.

(*) also a note on completed XFG deposits: ALL XFG DEPOSITS STARTING FROM V9 (GODFLAME) RELEASE ARE VALID FOR INTEREST REDEMPTION AT LAUNCH...in other words, you can be staking/making XFG deposits while waiting on the protocol & smart contract(s) to be developed. Just make sure to keep wallet/transaction records of your deposits.  More to come soon.

Just a reminder that public XFG pricing is fucked from the Finexbox update ransom, as it is the only pricing source on coin sites until we can find some other exchange options. Stay smart and think long term.
 

Found a website that accepts $XFG for flowers.
https://bud.mmm.page