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Topics - LocoMB

Pages: 1 [2]
Application Date *
Mar 20, 2014

Nxt Account Number

Requestor *

Project Title *

Brief project description


A massive multi-participant market simulation with freely floating prices for three dedicated assets created on the Nxt Asset Exchange.

There is a strong incentive for participants to engage in trading,
because people love to trade virtual assets as in WoW, 2nd Life, Eden Online and other virtual asset exchanges.
There is a strong added incentive:
The Option to redeem successfully traded assets (REDs, GREENs and BLUEs)
paid for in testNXT against real Nxt after the project finishes.

Please take some time to read the description and actually also spend some time thinking about it.

There exists the potential to unleash furious dynamics within this simulation.

This has a tremendous marketing potential.

Detailed project description

The NXT Asset Exchange Market Simulation

Trade Colours for Fun & Profit

          RED, GREEN & BLUE

Make real Nxt by Trading Coloured Coins on the Nxt Asset Exchange!

There are three Coloured Coins listed on the NXT Asset Exchange:

whtRED   - 100,000 pieces
whtGREEN - 300,000 pieces
whtBLUE  - 900,000 pieces

These assets can be bought by paying testNxt.
[remark: can also be scaled to 10x, pending discussions!]

They are available as packages containing:

whtRED   - 100
whtGREEN - 300
whtBLUE  - 900

for the price of 400 testNxt

whtRED, whtGREEN and whtBLUE can be traded and exchanged freely on the NXT asset exchange.

After the trading round finishes, they can be redeemed for testNxt from the issuer in the following combinations:

1 whtRED
1 whtGREEN
1 whtBLUE   
redemption value: 3 testNxt

1 whtRED
1 whtBLUE
redemption value: 1 testNxt

1 whtGREEN
1 whtBLUE
redemption value: 0.3 testNxt

1 whtBLUE
redemption value: 0.1 testNxt

You can use testNxt to purchase packages of WHITES (containing REDs, GREENs and BLUEs).




----> !!!!!!!!!!!!!!!!!!!!!!!!!!!!
----> !!!!!!!!!!!!!!!!!!!!!!!!!!!!

1 whtRED
1 whtGREEN
1 whtBLUE   
redemption value: 0.3 Nxt

1 whtRED
1 whtBLUE
redemption value: 0.1 Nxt

1 whtGREEN
1 whtBLUE
redemption value: 0.03 Nxt

1 whtBLUE
redemption value: 0.01 Nxt

Procedural Details:

The initial distribution of the assets will be by done by selling fixed packages of RED/GREEN/BLUE assets
to participants against testNXT on the testnet.
It is offered to redeem the assets for REAL Nxt according to a key as specified in the detailed description.
For this purpose, a bounty is needed. Initial calculation suggests a maximum of 39,000Nxt
to be paid out to the participants, but the numerical details can be adapted in further discussions.

For practical reasons of testNXT run, the distribution will be handled in the following manner:

- to be discussed

for one single person, handling more than 100 participants will be impossible


- packages are available in installments of 1000 only:
- 4000 testNXT buy 1000whtRED, 3000whtGREEN, 9000whtBLUE

- send 4000testNXT or multiple thereof to account: (testNET!): 9840660337823721473

- send PM with TX_id to ACCT:                                  9840660337823721473

- receive whtRED, whtGREEN, whtBLUE

- TRADE whtRED, whtGREEN, whtBLUE on the Asset Exchange

- redeem for REAL Nxt after test has ended on xx.yy.2014 12:00 GMT

- redemption: minimal Volume: 1000 pieces (practical reasons)


Target audience *

Massive Potential Audience

- Core Nxt'ers
- Fringe Nxt'ers
- Crypto Enthusiasts
- Traders
- Gamblers


Total NXT requested *

Project budget *

50,000 - 100,000 bounty for redemtption of Assets for real NXT

scaling of project - possible number of participants scales with people handling the simulation

20 * 1000 NXT for internet marketing - reddit, twitter, blogosphere - to be done by marketing experts

5 * x,000 NXT for up to five account handlers   to be negotiated

xy,000 NXT recognition fee for proposal generator (l8orre)  to be negotiated

Proposed Completion Date *


   - use as Asset Exchange Tech Demo LIVE at the conference

   - either live during the conference or shortly afterwards


Metrics *
need help

Jef-Diesel & Damelon may be competent in these matters

I just moved this over here from nxtcrypto.org.
This is a draft, and some modifications will follow.

Also, I will provide some narrative and examples later on!
And yes, Examples will come!

This is meant to become the place to discuss and post operational detail regarding the Asset Exchange and report Testing results.

Over on BCT there was a thread for this purpose already, but it was severely underused.

Also, there was only a small handful of people involved there, so maybe the better organized structure of nxtforum.org is more conducive to this!

I'll be posting some test results later today, and make some more noise about it!


What are 'NIPs'?

The term 'Nxt Improvement Proposal' or 'NIP' describes the formal specification and decision making process used by the Nxt community.
It is used to develop, discuss and decide on proposed extensions, modifications and improvements to the Nxt platform
Nxt Improvement Proposals are introduced, discussed and developed in this thread in the Nxt Forum.

This represents the preparatory phase of a formal decision making process.

The Nxt community orients this decision making process by the examples of the Bitcoin and Python communities.

Regarding the decision making, there are differences from the Python and Bitcoin communities.

The voting system that is built into the Nxt platform offers native and elegant method for decision making.

The following represents NIP#1.


NIP #1:
version 1. Author: <antanst>

Proposal of a clearly defined procedure on reaching community input and consensus about NXT features regarding technical and architectural matters, as well as relaying such consensus to the core NXT development team.

Matters that are not of architectural or technical consequence to the NXT code base, and consequently not of interest to the core developers, are not covered by this proposal.

The proposed procedure is comprised of the following steps:
  • Gathering community input about a proposed new feature or modification to an existing feature concerning the NXT platform.
    A thread on the forum will be created for discussing the upcoming proposal.
    Every member of the NXT community will be able to present his opinion there, as well as take the initiative of crafting the NIP (see next step).

  • Crafting the NIP in a coherent and concise way.
    The proposal should clearly state the ideas behind it, as well as the reasons for its consideration.
    The NXT tech commitee can potentially help on this step.

  • Voting on the proposal by the community.
    Voting will be carried out by using the NXT voting platform.
    A poll with a reasonable deadline will be constructed and all members of the NXT ecosystem will be able to vote on this.
    In order to avoid confusions by spam, invalid or duplicate polls, the poll ID should also be referenced in the NIP itself.

  • Once voting is finished, the vote results as well as the proposal itself will be relayed to the core developers.
    Afterwards, the developers can update the community whether they accept or reject the proposal, as well as state any recommended amends for it to be accepted.

  • Accepted NIPs will be posted on a specific read-only forum section, which will function as a NIP archive as well as a roadmap for the community.

Care should be taken when crafting NIPs.
The NIPs should be considered strictly as proposals, and should not specify a deadline or anything that can be interpreted as placing constraints or additional burden to the development workflow.
Details such as payments or deadlines do not belong in the proposals themselves, and should be discussed separately.

We believe that the use of this procedure will help the community to reach mutual consent, ease coordination between various committee members and make sure that they are aligned to the community's input.

It is therefore proposed to use this procedure to convey the communities' consensus to the core developers of the NXT project.

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