April features update | TokenDB | PoS4All | Advanced blockchain reports | OCL Tokenmasternode rewards
 
Sponsored content
BTC, Ethereum, ... all your cryptocurrencies linked to a credit card and a real bank account: Spectrocoin

PoS4All

PoS4all is currently under maintenance, the actual tokens will go back to their issuing address shortly.

The service will come back online soon, and is also being converted to a smart contract version.

FAQ

Why is there an update?

The PoS4All service was designed perfectly for the Waves platform more than 6 months ago, a lot of tests were made but this was nothing compared to the amount of transactions it generates right now. PoS4All is making transactions on the platform almost 24/7.

Reliability problems have been found when massive transfers occurs for extended periods of time, it led to missed or erroneous transactions, which simply aren't acceptable. This problem has now been fixed.

A second problem is the service cost: Now that most Waves main nodes decided that a minimum of 0.12 OCL were needed fo process a transaction (instead of 0.001 like before) we're not able to cover these costs anymore, token creators willing to use the service will have to pay these fees in OCL when activation is requested.

How to activate the service and how are the fees calculated?

To activate the service, you can contact me (@sphearis) on telegram, you will have to provide me with: The Asset ID, the amount you wish to distribute through the PoS4All system, the rate of distribution and its frequency. As soon as we've checked and calculated, we'll provide you with the following information: The number of distributions your settings allow and the quote for the OCL fees.

OCL fees are calculated by looking at the actual distribution, the rate/time (estimated number of transactions) + 20% for potential distribution evolution and our own revenues. Supplementary tokens aren't taken as fee anymore.

Example:

Testasset has 20000000 tokens in circulation, 2000000 Testassets are planned to be used for PoS4All, distribution will occur every day and the rate is 1/1000 (0.001 Testasset per 1 Testasset held)

Testasset is currently distributed to 15000 addresses: 15000 transactions per day, 18000 distributed per day(=Total amount minus PoS4all reserved amount divided by the ratio: (20000000-2000000)/100) for 111 days (2000000/18000).

Amount of transactions: 15000*111=1665000

Fees: 1665000*0.12=199800 OCL + 20% = 239760 OCL

What is PoS4All?

PoS4All is a way to enable a proof of stake feature for any token created on the Wavesplatform. Automatic distribution of assets rewards to holders occurs every N days for a specific time depending on your parameters.

Why?

Proof of stake provides an incentive for token holders, the more they hold on their wallet, the more they are rewarded. That means a better chance for your token to gain value as there will be more demand on the market and less sellers. That's also a very good and easy way to automatically reward your token holders.