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Author Topic: SuperNET dev Assets  (Read 9797 times)

jl777

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SuperNET dev Assets
« on: June 17, 2015, 05:43:17 am »

I am announcing a new category of assets, the "career asset". Last year I had this idea for artists/athletes, but they are entangled in real world contracts and agents and so problematic and also making sure they honor the dividend commitment is even more problematic and would require real world contracts.

But the basic idea is sound, ie allow a talented professional to capitalize their future revenues. This allows such a talent to avoid the "starving student" years by selling off part of their future earnings. It also allows investors for the first time(!) to invest in a specific dev, instead of the projects a dev is involved in. Granted, these assets can only assure investors that revenues from SuperNET are paid out, but since it is based on trust in a specific dev the asset is directly related to the trustworthiness of the dev and his/her future potential.

The revenues that a dev earns from SuperNET (be it bounties, revshare, whatever) from the time of asset issuance will be distributed as follows:

50% -> direct to dev (this assures dev always has 50%+ of the asset's value)
50% -> assetholders

So there is the effect of 1 million assets, but half of them are implicitly held in escrow by SuperNET on the dev's behalf. When dividends are sent, half will be sent direct to an acct specified by the dev, the other half to the assetholders. This is a bit confusing, but since it is not possible to prevent selling assets, was the only way to structure it.

Financially you can visualize this as there being 1 million assets, with the dev always having at least 50%. There will be 500,000 actual assets issued, with the other half implicit.

The 500,000 explicit assets are distributed as follows:
400,000 -> dev
50,000 -> SuperNET
50,000 -> dividended to SuperNET/NXTventure assetholders (and InstantDEX has 38% of NXTventure which will flow through)

This asset is to the primary benefit of the dev and they will start with 90% and will always have at least 50%, so they will always have a strong vested interest. SuperNET retains a small percentage to justify its acting as escrow, but it benefits indirectly as the more devs are able to finance their careers this way, the more devs we will have.

How will this trade?

This is an entirely new asset category, so it is hard to say. Logically, it would be the estimated lifetime SuperNET earnings of a dev, discounted to present value. I expect at first the price will not be more than single digits, but as devs are making money making agents and people see the dividends, it becomes possible to achieve more significant values.

So, the initial trading will be more like baseball cards between fans. "my dev is better than your dev" sort of fan competition. I also recommend to devs to put a way above market price sell wall so people can donate to the dev just by purchasing from the sellwall. The recommended sellwall will be 1% (10,000 assets) at 100. This allows people that just appreciate a dev to show their thanks and someday if all goes well, the investors will buy up this sell wall.

We will all be happy when that day comes!

I will update this OP with the list of SuperNET dev assets. The honor of the first one goes to BTCDdev asset #15131486578879082754 and each dev will post here a summary and status of their projects.

SuperNET devs, DM me to get your asset issued

James

BTCDdev asset #15131486578879082754
longzai asset #10955830010602647139
« Last Edit: June 17, 2015, 09:29:42 am by jl777 »
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BTCDDev

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Re: SuperNET dev Assets
« Reply #1 on: June 17, 2015, 12:30:39 pm »

Hi everyone,

In case you aren't familiar with me, I created BitcoinDark. I have been working with James daily for about 1 year now, since he joined the BitcoinDark dev team.

I am currently responsible for porting SuperNET to Windows, a task with which I am almost complete. I added support for paying dividends to BitcoinDark stakers, making it the first 'gen1' currency with div. support like an asset. After the Windows build is finished, I will shift my focus to improving BTCD by further implementing ramchains and other cool tech, and creating various SuperNET agents, including plans for chat and privatebet agents. I have also supported some NXT projects like FreeMarket by creating FreeMarketLite, which is now under the ownership of the FM dev team.

I am working on other things too, just pm me if you are curious.

Also, I am not on the forums much, I encourage you to join slack!

Matthew
« Last Edit: June 17, 2015, 12:40:56 pm by BTCDDev »
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yassin54

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Re: SuperNET dev Assets
« Reply #2 on: June 17, 2015, 12:52:30 pm »

Hi everyone,

In case you aren't familiar with me, I created BitcoinDark. I have been working with James daily for about 1 year now, since he joined the BitcoinDark dev team.

I am currently responsible for porting SuperNET to Windows, a task with which I am almost complete. I added support for paying dividends to BitcoinDark stakers, making it the first 'gen1' currency with div. support like an asset. After the Windows build is finished, I will shift my focus to improving BTCD by further implementing ramchains and other cool tech, and creating various SuperNET agents, including plans for chat and privatebet agents. I have also supported some NXT projects like FreeMarket by creating FreeMarketLite, which is now under the ownership of the FM dev team.

I am working on other things too, just pm me if you are curious.

Also, I am not on the forums much, I encourage you to join slack!

Matthew
Very Nice Job!
Welcome!  :)

longzai1988

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Re: SuperNET dev Assets
« Reply #3 on: June 17, 2015, 05:35:49 pm »

I am a front-end developer. Multigateway was my first project with James. Then it cames the SuperNET idea and so we have an extended NRS with SuperNET features. Later on we have multigateway v2 and so it cames together with SuperNET lite client. Recently with Jay Framework, we have Jay NRS that work with Jay Client.

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jl777

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Re: SuperNET dev Assets
« Reply #4 on: June 18, 2015, 04:31:00 am »

now, the idea is if the dividends end up justify a high enough value so that the good devs are able to switch to 100% cryptoland sooner, rather than later

jl777 [6:26 AM]
the estimated first dividend will be about 0.25 NXT worth of SuperNET assets

jl777 [6:26 AM]
so the NXT unit represents a bit of virtual mining power

jl777 [6:27 AM]
the btcddev unit represents a bit of his earning power

jl777 [6:27 AM]
now when the agents are fully monetized and the devs are getting the royalties from them, this is when the dividends could start adding up

jl777 [6:28 AM]
so instead of investing in a specific project, the decision is based on the dev and his future results

jl777 [6:28 AM]
there is also a longzai asset now

jl777 [6:28 AM]
if you are appreciating their work, just buy the sell wall as a donation

jl777 [6:29 AM]
For the SuperNET bounties, I will boost the bounty amount by 10%, that way even though the devs only have 90%, they end up getting the same amount

jl777 [6:30 AM]
since SuperNET owns 5%, it is only a 5% increased cost for the bounty and I am confident the power of this career asset to allow devs to capitalize their future will be more than enough to compensate for this 5% extra cost
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Amalgamus

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Re: SuperNET dev Assets
« Reply #5 on: June 19, 2015, 06:42:02 am »

I can see the Supernet asset holders received those dividends. Will the SuperNETx2 asset holders receive them as well?
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jl777

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Re: SuperNET dev Assets
« Reply #6 on: June 19, 2015, 07:05:55 am »

I can see the Supernet asset holders received those dividends. Will the SuperNETx2 asset holders receive them as well?
yes, I can flow them through. I have sent them to valarmg for the dividend
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Amalgamus

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Re: SuperNET dev Assets
« Reply #7 on: June 19, 2015, 07:25:18 am »

Thank you James :)
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alphawar06

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Re: SuperNET dev Assets
« Reply #8 on: June 19, 2015, 05:57:22 pm »

Hi James, recieved some Longzai assets, thank you very much.
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LooTz

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Re: SuperNET dev Assets
« Reply #9 on: June 20, 2015, 01:46:55 am »

Supernet is a sweet nectar
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jl777

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Re: SuperNET dev Assets
« Reply #10 on: June 20, 2015, 02:13:27 am »

As a guideline, for InstantDEX client projects, there will be 10% royalties to the GUI dev and 10% for the agent dev.

this comes out of the InstantDEX revenues and is already part of the budget. Since InstantDEX will have a built in autoconvert and a way to monetize that is relatively easy, it is quite possible that many projects that seem to have nothing to do with InstantDEX, are actually InstantDEX clients.

As other core projects are completed, similar royalty arrangements will be created. Also it is encouraged that all the SuperNET projects are having ways to allow for a royalty mechanism for clients of their projects.

I shall leave the details to the readers, but I am always happy to help with advices

James

P.S. In the event that I am the agent dev, I wont be accepting any royalties, so to have an agent dev working with GUI dev is not changing the payout to the GUI dev. The SuperNET channel #nxtplugins is a good place for info about all this
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xcn

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Re: SuperNET dev Assets
« Reply #11 on: June 21, 2015, 07:00:52 pm »

Seems like InstantDEX holders didn't receive BTCDdev asset?
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jl777

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Re: SuperNET dev Assets
« Reply #12 on: June 22, 2015, 01:06:27 am »

Seems like InstantDEX holders didn't receive BTCDdev asset?
sorry about that, the process is become a bit complex and valarmg is RL saturated. It will be taken care of, plz be patient.

There will be a special dividend of 0.2 NXT per BTCDdev, sometime next week. I will wait until the InstantDEX dividend and x2 dividend are sent out

James
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xcn

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Re: SuperNET dev Assets
« Reply #13 on: June 22, 2015, 04:02:41 am »

Thank you!
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xcn

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Re: SuperNET dev Assets
« Reply #14 on: June 22, 2015, 04:44:44 am »

Also NXTVenture received only half of longzai asset.
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jl777

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Re: SuperNET dev Assets
« Reply #15 on: June 22, 2015, 05:31:46 am »

Also NXTVenture received only half of longzai asset.
NXTventure got double the btcddev to balance this
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xcn

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Re: SuperNET dev Assets
« Reply #16 on: June 22, 2015, 05:49:25 am »

Also NXTVenture received only half of longzai asset.
NXTventure got double the btcddev to balance this

Oh, i see, it's 10% BTCDdev + 5% Longzai.
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Pilot

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Re: SuperNET dev Assets
« Reply #17 on: July 02, 2015, 03:08:25 pm »

Interesting idea, but I'm not sure how revenue is generated if the devs are working on open source projects? I understand the tipping aspect though. Or is that all there is to it?
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jl777

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Re: SuperNET dev Assets
« Reply #18 on: July 02, 2015, 04:02:12 pm »

Interesting idea, but I'm not sure how revenue is generated if the devs are working on open source projects? I understand the tipping aspect though. Or is that all there is to it?
bounties
and most importantly royalties

There will be royalty paying projects, like InstantDEX. btcddev is working on an auction agent with toenu doing the GUI side.
Over time, more and more money will flow into crypto and be earned by devs.
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BTCDDev

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Re: SuperNET dev Assets
« Reply #19 on: August 28, 2015, 11:51:11 am »

[BTCDDev Div Announcement]

Hi everyone,

I just finished sending out 2 separate dividends to BTCDDev holders. 500 crypto777 and 500 supernet

crypto777 (same ratios for supernet)


http://pastebin.com/bWjX18VQ

More to come!

Thanks,
Matthew
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