Finance

Token holders and the number of transactions dynamics (information from iostabc.com )

Currently, most USD pegged stablecoins, including PAX and GUSD, are based on the ERC-20 Token from Ethereum. This becomes a barrier for many Dapps built on other networks, as these Dapps will not be able to execute transactions with stable transfers of value.

Dapps and users in the IOST ecosystem will face similar obstacles, if there are no stablecoins to help execute transactions with low exchange rate fluctuations. The iUSD, a stablecoin solution which will be officially launched next week on IOST, is the solution to this problem.

IOST iUSD is a cross-chain stablecoin issued on the IOST blockchain. Blockchain applications built on the IOST ecosystem can use stablecoins to execute payment transfers with low exchange rate fluctuations. The iUSD is pegged to PAX, GUSD, TrueUSD, CircleUSD and DAI.

The iUSD stablecoin is launched by Rate3 Network, and can help to seamlessly transfer digital assets between the IOST network and other blockchians. Non-IOST digital assets (such as PAX, GUSD) can be stored on the IOST blockchain. Conversely, assets on the IOST blockchain can also be transferred onto other blockchains.

How To Transfer Digital Assets Across Chains using Rate3 Swap Gateway?

The steps to transfer digital assets across chains are as follow:

Users send non-IOST assets (such as PAX which is an ERC-20 Token) to the Rate3 Swap Gateway; PAX will be moved to the wallet address of its original blockchain (Ethereum in this case) — which will be disclosed with full transparency and viewable on the Ethereum blockchain; The value of the assets in this Ethereum address will back the value of newly issued iUSD tokens on the IOST blockchain on a 1:1 ratio; When the user wishes to move iUSD out of IOST and back onto Ethereum, he/she sends iUSD to a specified IOST address designated by Rate3’s Cross-Chain Swap service; The equivalent PAX will then be sent back to the user’s Ethereum wallet address; Through Rate3’s gateway service users can exchange, claim, or deposit digital assets in IOST. This service will be extended to support other stablecoins and/or digital currencies as community demand grows.

Bounty program

As a member in IOST community developer, developer can recommend IOST Developer Bounties to other developers, and invite them to join IOST developer community on Slack to win rewards. There are two types of rewards:

Invitation Rewards

Invite your developer friends to join IOST’s Developer community on Slack (https://invite.iost.io). After inviting, please share with the community about these developers such as their backgrounds, languages etc. Every 10 developers invited will be rewarded with IOST equivalent to 25 USD. Development Bonuses

If a developer invited by a community member successfully claims a bounty project, the community member can win up to 20% bonus based on the bounty of the project claimed.

IOST developer community: https://invite.iost.io/

Bounties launched include:

developer bounties for project development; bug bounty for mainnet security; article contest for delivering and sharing opinions to communities; Dapp referral bounty for inviting more Dapps to be developed on IOST.

Bounty Program for Project Development

1. IOST Online IDE

IDE that can be used to compile, deploy, and invoke smart contracts. The IOST online IDE will provide a range of smart contract templates (optional) and a powerful online editor.

Tasks include: Code editor and interface editor, compiler, debugger; other functions include: plug-ins, code obfuscation and version control; integration.

2. IOST Mac/ PC wallet

Functions of digital asset management, which include but not limited to:call of transactions; acceptance of transactions; overview of historical transactions and other wallet data.

3.Multi-language SDK (Swift, Kotlin)

4.Hardware Wallet Integration (Trezor, KeepPay, Nano Ledger)

Development of hardware wallet integration which relates to IOST’s mainnet Token management.Tasks include: key management; token and transaction management

See: The IOST Developer Bounty Program

Bug Bounty Program

Developers and white hats are welcomed to give us suggestions on: general security of blockchain; web security; security of protocols; security of transactions; security of smart contracts; security of other applications.

See: IOST Bug Bounty Program

Tech Article Contest

IOST team would like its community developers to share IOST’s blockchain technology and as well as useful content to IOST and other developer communities. The topics of articles could be:

IOST Dapp development guide

IOST smart contract development guide

Dapp design and development experience sharing

Introduction of IOST development document

Introduction and analysis of IOST V8VM (Virtual Machine)

Introduction and analysis of IOST PoB (Proof of Believability) consensus

Introductions, explanations and overviews of IOST technologies

Commentary on ecosystem development

Analysis and assessment of IOST

Comparison with other projects

Submission email: tech_support@iost.io

Dapp Referral Program

Through recommending excellent Dapps and Dapp teams to IOST, developers will be rewarded once IOST team established collaborations with them.

See: DApp Referral Program

Metanyx, a network of passionate IOST enthusiasts that collaborate and share their collective skills and knowledge to mature the IOST ecoystems, will provide 50% of its Servi reward back to its voters in the way of a newly issued token. Metanyx have created the first ever token on the IOST blockchain, the token identifier is METX. The token will allow users to receive a portion of the Servi only reward. Users can accumulate tokens by voting for Metanxy as an IOST Servi Node.

Currently users can vote for Metanyx via Biss.com, in the future you will be able to vote on other exchanges and directly from a wallet.

IOST Rewards model

The first year reward pool is 840 Million IOST which is broken down into the following 3 categories.

Election Reward = 420 Million IOST — 50% shared with voters proportionally

Contribution Rewards = 210 Million IOST — 50% shared with voters proportionally

Servi Rewards = 210 Million IOST — 0% shared with voters

Based on the current model voters do not share the Servi Rewards, the proposed METX token will allow voters to share in this reward.

For more information see the IOST Partner node contribution reward system.

Economic Model

The METX token will be used to reward voters by using it as arbitrage against 50% of the Servi node reward that the Metanyx node receives. Every week 50% of the rewards received by Metanyx will be stored to back the value of the METX token. Each allocation of rewards will be used to increase the vote against the Metanyx producer to increase Servi reward potential.

An example of Servi Reward accumulation that will be used to back the value of the METX token:

The projected IOST rewards are based on increased IOST votes received by Metanyx on a monthly basis. The maximum reward a Servi node can receive is approximately 1,020,327 IOST a month (2 blocks a second x 86,400 seconds a day / 17 Servi nodes x 3.3 IOST block reward x 365 days / 12 months) assuming they are in every single round and do not miss a block, it is unlikely this will ever occur due to the design of PoB. A realistic maximum is 800k IOST.

METX Token Distribution

The METX token has a 1,000,000,000 total supply , 10% of the remaining supply will be released every year on a weekly basis.

*This will continue indefinitely decreasing annually based on the calendar year

The model will ensure a gradual release of the token into circulation, it is expected that the IOST balance will rise proportionally faster than the METX token is released which will increase the value of METX token over time. Every year fewer METX tokens will be released increasing the scarcity of the token against a growing IOST balance.

Initial Token distribution

To celebrate the IOST mainnet launch Metanyx will be distributing 10 million tokens from March 10th 2019 until March 31st 2019. The first 1000 users will receive 10,000 METX tokens each, users will need to join the Metanyx Telegram channel providing their public address on the IOST mainnet. If any of the 10 million Air Drop tokens are not claimed by the 31st of March 2019 these will be distributed to voters by the end of 2019 to voters of Metanyx.

In April and beyond once end users are able to vote directly for Metanyx either from a wallet or via an Exchange wallet Metanyx will distribute the remaining 90 million and any left over Air Drop tokens by the end of 2019. This process will be fully automated as soon as technically possible.

Once you are able to create an account on the IOST mainnet full instructions will be provided how you can claim your METX tokens

Redemption

All METX tokens will be redeemable by Metanyx for IOST, when a METX token is redeemed for IOST it will be destroyed by Metanyx to create a deflationary supply of METX. All METX tokens will be frozen for 6 months from their initial issuance. To redeem METX for IOST a user will send the METX to Metanyx public address which will burn the METX token in exchange for IOST. The IOST will be released after 7 days after unvoting occurs. Metanyx will not sell the METX token.

Decentralized Exchange

METX will be tradeable by its holders on DDEX or similar Decentralized Exchanges allowing users to trade it for other tokens as they wish. The value of METX token on a decentralized exchange may vary as it does with any other token traded OTC or using a DEX.

*Metanyx are a community focused Servi Node who have been actively involved in the IOST ecosystem from the very beginning. In addition to supporting the IOST community Metanyx are in the midst of developing Dapps for the IOST network which they will announce in the future. Metanyx run a high available Servi Node on the IOST network.

Global blockchain spending will account for almost $2.9 billion in 2019, which is an 88.7 percent increase from 2018, according to a new report from United States-based market research firm International Data Corporation (IDC). Published on March 4, IDC’s Worldwide Semiannual Blockchain Spending Guide provides analysis of blockchain developments in various segments.

According to the report, the financial sector will be the leading industry in terms of spending in blockchain development this year. Banking, securities, investment services and insurance services are forecasted to invest more than $1.1 billion out of the total global blockchain spending.

In turn, manufacturing and distribution services are predicted to see spending on blockchain amount to $653 million and $642 million respectively in 2019.

In terms of use cases, cross border settlements and trade finance are expected receive investments totalling $738 million, the report notes.

In geographic terms, the U.S. is set to see the largest blockchain spending of $1.1 billion, followed by Western Europe and China, which are predicted to invest $674 million and $319 million respectively.

Stacey Soohoo, Research Manager for IDC’s Customer Insights & Analysis team, said that 2019 will be a year of mainstream adoption, but will “rely heavily on reshaping the ideology of a blockchain revolution.”

IDC expects worldwide blockchain spending to see rapid growth between 2018 and 2022, with a five-year compound annual growth rate of 76 percent, the new report says. The study forecasts that total global spending will amount to $12.4 billion in 2022.

Previously, IDC predicted that global blockchain spending would hit $9.7 in 2021 and $11.7 billion in 2022.

Recently, Big Four audit company KPMG published a survey claiming that 48 percent of C-level executives believe blockchain technology is likely to change the way they do business in the next three years.

First batch destroyed: 2,170,000,000 IOST (ERC-20 tokens). This represents over 20% of circulating supply.

Olympus v1.0 is now running steadily with close to 200 Node candidates, reaching 3,879,596 block height and 11,729,771 transaction volume as of 3:25 PM on March 6, 2019 Singapore time.

The mainnet token swap processes are now in full swing. For ERC-20 token burn, IOST Foundation will share with our community in a timely manner and invite all users and supporters around the world to witness and provide oversight.

Exchanges to support IOST token swap:

The second round of token burn has been completed, with 5,135,325,031.2373 IOST (ERC-20) successfully burnt. Total amount of Token burnt to date: 7,305,325,031 IOST (ERC-20).

The article will help IOST Voters navigate the latest IOST mainnet landscape. This FAQ is divided into two major sections:

Section A: Governance, Voting and Rewards Section B: Mainnet Token Swap and Wallet Options

Main topics covered:

What Are The Rewards Given Out Every Year?

The total size of the Partners Reward Pool is 840 Million IOST, of which:

420 Million IOST comes from the IOST Ecosystem Fund

420 Million IOST comes from Token Issuance

For the IOST Ecosystem Fund (“Ecosystem Rewards”),rewards are paid quarterly, based on:

the share of votes cast by you as a voter (210 Million IOST)

contribution made by your chosen Node Partner (210 Million IOST)

For Token Issuance (“Token Issuance Rewards”) rewards are paid daily, based on:

the share of votes cast by you as a voter (210 Million IOST)

the number of blocks produced by Node Partners (210 Million IOST)

How Are Rewards Split between Voters and Node Partners?

With exception of block production rewards (210 Million IOST) which are given only to Node Partners for maintaining servers and transaction ledgers, all other rewards are split 50:50 between Node Partners and Voters.

As a Voter, When will I Receive my Rewards?

Here is a diagram made by Leobi, an elected IOST Node Partner, which clearly illustrates the how the rewards are shared with voters / Node Partners, and when these rewards are given out:

Since the start of the Mainnet Voting Stage (Mar 10), voters have been receiving daily rewards from the Token Issuance Rewards >> Election Reward pool, which comprises of 210 Million IOST.

However, this is just one small part of the Total Rewards pool given to voters, as the remaining rewards are given out on a quarterly basis.

Up to 30th June 2019, voters can expect a big bonus to arrive when the quarterly Ecosystem Rewards (420 Million IOST Pool) are released. Depending on the level of contributions from your chosen Partner, your quarterly bonus may be up to 300% of the daily rewards you have received.

How Can I Redeem My Votes?

If you wish to redeem your votes, it takes 7 days. After redemption, you can vote again, trade or withdraw. Note that the distribution of rewards will stop once you initiate the vote redemption process.

See:

https://iost.biss.com. — official portal for voting

https://iost-eng.typeform.com/to/MQzgbm — application to become a node partner

http://bit.ly/iost-iwallet — iWallet chrome extension to access Dapps

See also: