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enumivo

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Everything posted by enumivo

  1. https://enumivo.qsx.io/accounts/elnltsburner this is an address i control having 1M ENU allocated to buy and burn LTS or ELN in the market maker. if you have bought and burned LTS or ELN, please post the proof here and i will match it. you need to put in your comment the details: 1. your block producer name (to let everyone know) 2. the amount of enu you bought (use the market maker) show link of tx purchase 3. the LTS or ELN sent to enu.savings then i will match the same ENU and show the same proof i will keep doing it until all 1M ENU is depleted. hopefully by then the community already realize the importance of voting for the proper block producers. note: please make one comment for each buy and burn, i will quote it with my matching buy and burn.
  2. enumivo

    Automated Market Maker

    How does the Automated Market Maker (AMM) work? If you look at the image, it shows that the AMM holds 1,661,141.4464 ENU and 4.33300955 BTC. The contract is enu.btc.coin. This means that if you send either BTC or ENU to this contract you will automatically get the other coin. The market maker will act as a counterparty to your trade. If you sell, it will buy. If you buy, it will sell. The market maker contract treats ENU x BTC to be constant. So if you add ENU to it, it will give you back the BTC in such a way the new ENU x BTC it owns remains constant (after taking 1% fee of course). This means the more you put on one side, the more the price of the other side increases. Who owns the ENU and the BTC in the AMM? The answer is the community who holds ENUBTC tokens. If you look at the image, there are 7,295.6066 ENUBTC tokens in circulation. Each ENUBTC is a share of the ENU and the BTC owned by the AMM. If you send ENU or BTC to enubtc.mm, you are basically converting what you send into both ENU and BTC and add it to the AMM and the AMM gives you shares to represent your ownership of the AMM. As more people will trade with the AMM, since there are fees taken, the ENU and BTC it holds will gradually increase, so your ENUBTC shares will also own more and more ENU and BTC. Owning a share of the AMM basically means you are a part owner of all the shares, meaning you own part of ENU and BTC it represents. If someone buys, you sell part of it. If someone sells, you buy part of it. You basically become a participant of each trade and you earn a share of the trading fees. What is the significance of owning ENUBTC? Owning ENUBTC means you added both ENU and BTC to the AMM so you add liquidity to the exchange. In the image, it means the AMM has 1.66M ENU and 4.33 BTC to sell. The more the liquidity grows means less price volatility (it takes more to move the price). The more liquidity in the AMM will mean that big transactions will not move the price so much. What is the advantage of trading with the AMM? Trading with the AMM means you get a better deal. We have observed that despite the 1% fees, the AMM still offers the best spread and you will get more if you buy or sell. Also, if you hold ENUBTC shares, you earn back part of the fees you generate and earn part of the fees other trader generates. Since the AMM is community owned and powered by an open source smart contract, everything is transparent and the community earns all the fees. Each ENUBTC owner is like operating his/her own exchange that runs 24/7. If you have ENU or BTC sitting on a wallet and not doing anything, it would be better if you put it in the AMM and let it earn and help build the liquidity of the AMM.
  3. enumivo

    Automated Market Maker

    Interesting, but the borrower must have collateral. Lock ENU as collateral and borrow BTC. Then we put a margin call mechanism where if the collateral value goes dangerously low, we force to sell the collateral and pay the BTC loan before it becomes too late. This way the lender will always be sure to get paid. Everything can be automated in a smart contract. It is basically a collateral debt position.
  4. We have noticed that perhaps some traders didn't realize the presence of the automated market makers using smart contracts on the Enumivo chain. Right now the ENU/BTC MM has a liquidity of more than 4 BTC + 1.2M ENU. It is trading ENU near 350 sats each. Just in case traders don't realize it yet, some people sell ENU at 318 sats while the MM is willing to buy it it about 350 sats. In line with this also, since our treasury sells some dev funds every month to pay for expenses, we will stop trading on outside exchanges and start selling ENU on the MM. We will divide the monthly budget into small amounts and sell it several times a day. If you want to trade with the market makers, and you want to get iou.btc, contact us and we will assist you. We will also process withdrawals to btc without fees for withdrawals 0.1 btc or higher.
  5. So far, trading with the MM gives you a better deal than trading on outside exchanges. You either get more ENU when you buy or get more BTC when you sell.
  6. Help us test our unique face detection system and we are putting a 300K ENU bounty for it. https://faces.enumivo.com/ Just create an account and upload your picture as instructed and join the telegram group to discuss about it and let us know if you have found errors/bugs or if you have suggestions. At the end of the testing period, we will distribute 300K ENU to all participants depending on your ranking and accuracy. Since this is a test, we expect some problems along the way and we will continue to improve the system.
  7. enumivo

    Enumivo Updates

    RoE and UBI Effective March 31, 2019, RoE funds will be added to the 10M UBI funds. We have 3 UBI offchain tests and 2 onchain tests coming up soon and some of the funds of UBI will be used to reward those who will test the new systems. At the end of March, all citizens will get 10K ENU each as last reward for being citizens. RoE will still exist but without funding and it's up to them if they want to continue or to disband. Focus will be on UBI since there are many approaches/variants that we need to test very soon. RoE did not serve its purpose as I envisioned it. It was an experiment. Thanks to all who participated. Enumivo 1.7 Release We are skipping 1.7 Release and wait for the next one since we have seen some problems in it and we can't risk the chain. I have also seen other chains where nodes randomly shutting down running 1.7. We have managed to decrease the failing tests below 10 and we are working hard to bring it down to zero in preparation for the next eosio release. USD Denominated Salaries Effective April, all salaries will be renegotiated in US Dollars and will be paid in USD Stablecoins. This is done for us to have minimal market effect every end of the month which usually happens every payday. I will be contacting each one by the end of the month to renegotiate. Work for Us If you feel you have the time to work for Enumivo even on a part time basis, any skill that you think you can contribute to add to the value of ENU, feel free to contact me.
  8. enumivo

    Initial Settlers

    not yet but please stick around it might start soon. welcome to the community.
  9. enumivo

    Initial Settlers

    The first 1,000 settlers for the UBI App will be determined in this forum. They will get a total of 1,000,000 ENU* and 5,000,000 UBI* by the launch of the application and will be the first UBI recipients and will be the initial population which will approve future UBI applicants. The determination of the "initial settlers" will be by a complex algorithm of voting among all forum members and recursive scoring. The main goal is to select 1,000 unique individuals that is deemed worthy by the community at large. The algorithm is being designed right now and is on very early stages and will undergo several iterations of implementation changes and multiple monte carlo simulations until we are confident enough that it will not be exploitable and gameable by bad actors. This document will be modified several times until it will be declared final. We will then publish the details of how the algorithm works. Monte carlo method will be implemented since I'm not very good in very complex formal proofs and I don't have the time anyway. Monitor this thread if you intend to become part of the UBI's initial settlers and be one of the thousand people who will win 1,000 ENU and 5,000 UBI and determine the ecosystem's fate. *amounts to be finalized
  10. We are happy to announce that ENU, PPC, and LTS is now trading on Newdex. https://newdex.vip/trade/enu.token-enu-eos https://newdex.vip/trade/pickpickcoin-ppc-enu https://newdex.vip/trade/ltsonenumivo-lts-enu Newdex is a decentralized exchange not holding private keys so it's safer for users. This is a big step for the Enumivo project! Thanks to @davidfnckand company for making it happen.
  11. To all ENU holders, right now if you vote you get LTS and one BP has started to respond to my call to spend a portion of the BP rewards to buy LTS and burn it or send it to enu.savings. This will increase the value of LTS thereby making use of your ENU to vote a profitable exercise. In line with this, I'm allocating 1M ENU to match any BP doing so by also buying LTS and sending it to enu.savings or burning it. I'm also proposing to the RoE to allocate 1M also to match the same. This means every time a BP buys LTS with part of his ENU rewards, 3x more LTS will be bought increasing its value encouraging more ENU holders to join the 400M LTS airdrop. I'm also calling out block producers not being able to do the duties of what a BP should do to either remove themselves as bp or be more active or offer the same buy and burn. I'm also asking the voters to vote only those who add value to the network either by doing something helpful to the health of the chain or giving back the rewards by the buy and burn process. The power of the community should be the one dictating the block producers and not the other way around.
  12. enumivo

    ENU, LTS, PPC Trading on Newdex

    The Enumivo team and community extends our gratitude to davidfnck, tylerxiong, daifuku, joshuaqiu, thanos for bringing ENU to Newdex. Thanks a lot! More power!
  13. enumivo

    Buy and Burn Thread Monitor

    1,000 ENU Buy and Burn Match 500 tomblocknode 500 enumivoqsxio https://enumivo.qsx.io/transactions/c1dfcec4b994889122cdf05cbb57d6c72adee6bd4c1a4126ec820095f4841f95 https://enumivo.qsx.io/transactions/d477ed05bcccde31576d0bf4d7f2a17f9b20b18743add7ccdc77b217541907d6
  14. enumivo

    Buy and Burn Thread Monitor

    1,020 ENU buy and burn https://enumivo.qsx.io/transactions/dd55ca7df2b3911593eb8c43b4e099d759df881758ad99737a4a33034e82eabd https://enumivo.qsx.io/transactions/a695df6d62416e8020ec679a32cfc8e30d779de772c787a68e8789414b08aac4
  15. enumivo

    Buy and Burn Thread Monitor

    thanks for that, however i can't match it if i dont see the ENU->LTS market maker buy, but thanks for participating and more power.
  16. enumivo

    Buy and Burn Thread Monitor

    eurnoproject matched 47.49 ENU buy and burn. https://enumivo.qsx.io/transactions/b8f3118b1ef2813c9266c6aef0e59547db92451989dd8bba5b10120cafc784eb https://enumivo.qsx.io/transactions/d5a2670e633f542bbe5c760689d700f174d415aee7397fafb9e8054cf7144d5e
  17. enumivo

    Buy and Burn Thread Monitor

    Matched. ELN bought with 105 ENU and sent to enu.savings. https://enumivo.qsx.io/transactions/01307ce79d8c1540500af9239c10ee4662bce3a143c3e1d5b20b9d8c6bde507b https://enumivo.qsx.io/transactions/2c05cefdb605269505e0aa41978409353acaef61387eabb98682913cbd5bc503
  18. enumivo

    Buy and Burn Thread Monitor

    yes you can, i will just match the ENU regardless of the LTS price, but i prefer to burn ELN since it has a better and newer market maker design
  19. enumivo

    Buy and Burn Thread Monitor

    yes i will only match LTS or ELN purchased on mm with transaction to have proper monitoring and proof, those who hold LTS and burn them can also comment here but i can't match it since i will get ENU and match it 1:1
  20. enumivo

    Buy and Burn Thread Monitor

    I'm encouraging the RoE to vote to pass a motion allocating 1M ENU also from their funds to do the same.
  21. please take a record we might need a central record for bp's burning LTS so that i can match them all and hopefully RoE too we make the community know of it so that they will know who to vote
  22. Call to Arms https://enumivo.com/topic/1226-a-call-to-arms-for-all-enu-holders/
  23. enumivo

    Vote for active BPs!

    enumivotyler - support funkydaifuku enumivoqsxio - support enudavidfnck - support enulexlexlex - support ansenironman - support btroncomnode - support enusmallfish - support gamevcfundbp - support enuhlawapiti 1wenubuyrm52 huobipoolenu kkextodamoon enutoptoptop accommodated eurnoproject - support enumivoooooo - support enubishijian mathwalletbp - support enubifreedom - support sixbtcforenu After more than a day trying to get in touch of active block producers on telegram and here, only 12 cared to respond. The Enumivo system contracts can't be upgraded. Behold, your block producers.
  24. enumivo

    Vote for active BPs!

    @davidfncklet other bp's state their opinion.
  25. The ENU/BTC Automated Market Maker has been updated with the following changes: The trading fees is increased to 1%. After observation and comparison with outside centralized exchanges, making the market maker charge higher fees will still offer better spreads since the market maker uses a different algorithm of asset pricing. This will also encourage people to invest in the market maker thereby increasing its liquidity resulting to less slippage and even better spreads. At 1% trading fees, asset pricing will still be superior compared with centralized exchanges. The FTP coin is not anymore issued when you trade on the market maker. The FTP tokens will not have any further supply increase anymore.
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