

Welcome to the 39th Bitshares State of the Network (BSotN) report. A weekly report focusing on the changes in the ecosystem and track longer term changes in a effort to identify emerging trends and changes in the Bitshares platform.

The Bitshares State of the Network Reports seeks to combine raw data from a wide range of metrics and combine them into meaningful information to identify emerging trends and changes in the Bitshares network.

This section will highlight any observations made while analysing the data.

The week has seen the Bitshares DAC turn a profit!! Meaning that for the second time in the history of Bitshares 2.0 the networks income was higher than its expenses resulting in a lower BTS supply and more funding in the reserve pool (Used to pay witnesses and development). The DAC is like a business although with a DAC the more profitable it is the less Bitshares in circulation as adoption grows and we have steady income to the network the shares in circulation will reduce as they get reinvested into the reserve pool (via fees); this will put upwards pressure on the price of Bitshares which will benefit the reserve pools ability to fund development and worker proposals; what an awesome positive feedback loop.

BTS has been listed on CHBTC with a pairing to CNY. At the time of writing CHBTC has the highest Bitshares trading volumes of all exchanges listing Bitshares with 38% of the daily volume ($113,666,000 USD) compared to PoloniEX who is 2nd with 26.3% ($78,813,000 USD).

Bitshares and OBITS have listed on SZZC Exchange in the last 24 hours with a current market price of 2.5 CNY per BTS and 29.5 CNY per OBITS

This week also seen Bitshares added to another Chinese Exchange Jubi.com. Trading commenced on the 9th of June. you can read the official announcement HERE

This week has seen China dominate the trading markets with 67% of trade occurring in CNY instead of BTC when looking at traditional exchanges. This has lead to a few new players in the Bitshares Top 100 richlist and has drained over 100 Million Bitshares out of the PoloniEX and yun-bts hot wallets.

HERO News - In a recent release of AVANT GARDE Magazine (June 2017) a piece on HERO and its plans was covered. In the article along side some visonary plans for the future of the HERO; Michael Tellinger (South African author, politician and proponent of contributionism) has called HERO "a transitional tool" to his One Small Town project (OneSmallTown Video), Quintin Griffin (Co founder of Howtosaveearth.org) spoke of plans to release a 'Fair Trade' coin that would launch through Heronomex, Dylan Howard (Founder of The Hanging Gardens Trust) say a partnership with Svereign Hero will build a solid foundation towards establishing a vast network of vertical farms, Robert F. Calkin (CEO and founder of Cannabis Career Institute and Cannajobs) said 'We are excited to be part of this new paradigm shift" - Highly recommend you read the full story HERE (Page 20-31)

The total Smartcoin marketcap increased 62% this week to a total of 12.2 Million USD! Please see the YTD chart plotting market cap below this section

I normally make a point of not talking about price in these reports but today is an exception as the Bitshares market broke 1 Billion USD market cap this week, it has dropped back 10% from that mark and is currently sitting at 900 Million USD in 10th place on the coinmarketcap leader board; with a single Bitshares being work 35 US cents.

@arhag has drafted a very comprehensive proposal to implement the 'account recovery' and 'locked savings accounts' to the Bitshares network. These features are already being used on the Steem blockchain and have saved a lot of heart ache and loss for a number of users. View the in depth proposal HERE

The multisig-worker-2017-01 that was preforming the conversion and payment for @xerocs worker proposal for PyBitshares and Uptick has burnt the remaining 6.4 Million BTS valued at 2.24 Million USD back to the reserve pool as the Proposal is now completed. This has effectively reduced the supply of BTS and returned them to the reserve pool to further development of the network.

SVK New version of the Bitshares GUI (v.2.0.170522). This release contains some bug fixes and some new markets (HERO and YOYOW). You can find the latest release HERE

Bitshares has been added to the 'Coin Market App' available from the google play store for Android mobile devices. Coin Market App aims to provide news related content around Digital Currencies for daily informative updates. you can check out the App on the Play Store HERE

Ronny Boesing (CEO of OpenLedger) has commented on telegram this week in relation to Viewfin/Metaverse partnership and upcoming ICO's in the Chinese crypto currency space. OpenLedger and the Bitshares DEX will be the primary global gateway into these Chinese ICOs. You can see the discussion on Reddit HERE

Ronny Boesing (CEO of OpenLedger) has announced an upcoming auction for the remaining OBIT.WARRANT assets - 'We have a portion of 975 000 OBITS.WARRANT left, which will be offered to all taking part in an auction to end 9 am pacific time June 25th 2017. Any amount received will be used to buy back and burn OBITS as part of distribution on July 2nd 2017. It may well turn out to be the biggest buyback event to date, and it seems we keep breaking records with the 50 000 unique users signed up soon to happen as well. The 975 000 OBITS.WARRANT will be dropped proportionally to all contributors sending bitUSD, and only bitUSD to the account: obitswarrant2017'

Peerplays network has launched and the GUI wallet has been released, It is now possible for users to check out the new interfaces, redeem crowdsale tokens and vote. The main betting applications are still in development. I also hear that it could be trading on OpenLedger soon. Check out Peerplays.com to download the wallet and for more information on how to redeem your crowdsale tokens

On the 8th of June the BitsharesDEX telegram channel reached 1000 users, today just one week later this has grown to 1,400+ users and the previously very active group is now extremely active

Bitshares use ENTER along with accounts HI, BTS and MAN are on a account registering spree; registering hundreds of names per hours, each name is 4 chars long and is a random mixture of characters. Good new is each name costs a fee which the network is taking a % of.

This weeks Bitshares hangout recording has been published and is available HERE

Current registered wallets/accounts within the Bitshares network is 288820 242618; an increase of 46202 wallets/accounts since last week

The last asset registered this week is asset #1414 and it is named 'SCALABLE' registered by 'asocjal85' with the description 'Tokens for scalable.network project. When project released, all SCALABLE tokes will be converted to new SCALABLE currency in exchange one to one.'