It's Picture Time!
Multi-Signature is Here was my last post, and while it did exceptionally well here, reading thru the comments shows just how out of touch I am with explaining what we're working on. Our team ( @markegiles & @psorigins ) has been hard at work building the User Interface and designing the experience we believe you'll enjoy and understand. That said, it's a process and one that can never be complete with out your feedback. At the bottom of this post will be a link to our discord, and of course comments are always welcome.
Let's jump right into the meatiest part of what Multi-Signature means for layer 2 DAOs like DLUX.
We now have a DEX that functions much like a traditional exchange. This is absolutely a revolution when it comes to Hive. There is of course Hive-Engine, which can be audited, but still relies on an internal peg which only has one key authority and is therefore not a DEX. Even most of the projects on Ethereum utilize external exchanges to market their tokens, many of them CEXs. DEXs like Uni to Pancake Swap... These liquidity pools can cost hundreds of dollars to use, and there's no guarantee your transaction will even go through. This barrier to entry presents one of the biggest hurdles to mass adoption in the space. Where we cut out middlemen like brokerages and banks, we just replaced them with miners. Robinhood and Etrade are still preferable IMHO. Well, until now:
Our DAO now operates a decentralized wallet. When you send Hive or HBD to @dlux-cc it will match your memo information to dex transactions or NFT sells. It will then send that Hive/HBD to the correct accounts. Since we operate our own wallet, there's only a 0.1% transaction fee(DEX) which is distributed to all our consensus node operators, and primarily discourages wash trading. There is no fee to buy NFTs, or to purchase tokens from the ICO.
Viewing and sorting your open orders is also a breeze, with the remaining amounts displayed. Cancel at anytime.
In the top left this indicator will let you know where DLUX is at processing the last immutable block. Since hive has 3 second blocks, 17BBH means you'll likely be waiting 51 seconds for confirmation on your order. We consider 17-25 healthy and if this number get's much bigger than 30 the node will try to stream blocks from a different API, if it's not present or bigger than 100 consider the node offline, or in a replay state.
A tremendous amount of thought and effort has gone into the security and execution of our new features, it's certainly a process. Let's get into some fun stuff!
@lordbutterfly has put together a compelling homage to some of Hive's most recognizable accounts. Very soon these will be defined and sold via our decentralized wallet (Thursday 🤞 ). On the technical side of things I've been building and testing a few smart contract features. I'll leave it to him to discuss some of it but in his Announcement Post a trading fee dividend was discussed. To support this I built a dividend contract that can be permanently attached to a NFT set. To fund this contract Royalties are now mutable by the owner... which means not only can you fund a dividend contract(permanently) you can sell your royalties to another account, or multiple accounts, or only 40% of them.
In the near future this might give way to a secured lending contract. Get 1000 Hive loan, that will be paid back with set royalties or you can buy them back sooner to avoid paying the agreed interest. There is just so many possibilities with our DAO structure... we're very excited for the future.
As you can see above Hive and HBD buys are working on our NFT section, and our DLUX founders set (with a 100 DLUX melt value) are now for sell. Below you can see that the purchases are distributed to both accounts, and (since I was the one testing) an overpayment refund was bundled with other transactions. This bundling comes in most handy when you sell large amounts of DLUX and several orders partial fill.
There are still about 400 'bz' NFTs airdropped for HiveFest that have yet to be opened. If you haven't recieved one yet, we've still have over 9000 to distribute to active accounts. So stay active and you're likely to get lucky when we find our next airdrop metric.
There's a lot more ways to support our work than voting on this post. From voting for my witness to discussing features on discord... or even getting your hand dirty with a PR on github.
A very interesting step forward. It is good that you are focusing upon providing a fully decentralized exchange to Hive and not something that in reality has centralization. As mentioned, much of what takes place on other chains is truly centralized when you did deep enough.
It would be interesting to get some feedback from developers in posts who took a look at what is being built and how they could integrate it into their operations.
Hopefully they start to take a more serious look at this.
Really is a good one thought,and the summition is good and awesome.
really great post..
WOW! this is great!
!PIZZA
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mmuuuuuuuch better comm. Well done
Wow That's really cool. What happened to bee NFT's or are they not on minting stage yet?
They aren't being sold is all. Several are currently out though :)
!PIZZA
Nice, i think i should look again at Dlux :) Was a long time ago i looked last time.
Really impressive work, glad you're here. Will HIVE lending allow the account as collateral for instant powerdowns, or is that not in the plans?
I can't speak to what is possible with hive loans. I'm not intent on providing liquidity or much other than to design contracts that can make these things possible. So... If there are accounts that want to pool Hive/HBD for loans... It's possible that NFT royalty holders can provide their royalties as collateral. I believe @klye was also working on these things.
I don't understand where NFTs come into this, but thanks for the answer.
Let's say you mint an NFT set that has a royalty. This means you may receive 10% of all sells... now let's say your NFT set generates 100 DLUX every month. You can then get a loan, secured by your future royalties. Get 1000 DLUX, pay 20% interest, your royalties may pay off the loan before you do.
be careful mcafee died trying to do this
I keep getting the following error every time I try to make an order on the DEX :-(
Guess we need to do a little more work on the notifications. If you refresh you'll see your order is open.
thanks a lot... trying to get my head around it all :)
Nice PFP Dr Tobetada
haha yes :))
I love those nft bees. Hope I get one.
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STOPCheck out the last post from @hivebuzz:
Can anyone explain me how can I earn with hive cauz it's kinda confusing for mr
Thanks alot! Great Post
I have a good feeling.😃
how do you open the NFT from Hivefest?
Great job as always
I am also interested on this ....!
How can I take part in it
Howdy. I was directed to yourself by GP.
TheHive: I am sure I have a brilliant idea for an NFT. Any ideas on who might be good to approach about it?
See Disregardfiat was the reply.
I have made a short post. It does not give all the details nor does it give the full possibilities for starting NFT numbers. Those variants can be much greater. I dropped a link to the brief post. If you would like further discussion on this. Please DM me in discord. TheHive#4070 or tag me anywhere in comments.
https://peakd.com/nft/@thehive/nft-game-project-i-need-help-or-to-sell-this-project
I am far from such virtual events, what can be done in the shortest and most efficient way to improve myself and earn money in these ways?
You're still losing control of your funds by sending it another account that doesn't contain your own key.
So you only buy and sell your hive directly person to person? And who transfers their capital first?
No. The idea is to create a new account, and this account, make a 2 of 3, in this system only need to give authority to each of three parties. The arbiter is the third. Pre-signed transactions can be used to prevent gaming the other side.
I'm sorry I don't follow. This is an account with decentralized authority... It's better than a 3 party system you can have as many eyes on the transaction as the network will allow.
This is an improvement over Hive Engine, but those who trade with that system are giving up custody of their cryptocurrency. The case where this doesn't happen is on-chain Hive to HBD trades. I think we can do even better.
Hi there, I like your publication, as it documents what I am working on.