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Crypto Ecosytems

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In the recent months Ecosystems has been a buzz-word. 

Here are a few of the Topics that are important to the Ecosystem I find myself within; Hubs, NFTs, Identity, Security, Vaults, Marketplaces, Alerts, Automation, DEX, DeFi, Smart Contracts, Cross-Chain, Multi-Chain, Liquidity, Web 3.0, Privacy, Confidentiality, Accounts, Proof of Work, Mining, Proof of Stake, Staking, Yield Farming, Liquidity Mining, Value Chains, Metaverse, Gaming, GameFi, Interoperability, Digital Assets, FinTech, CEX, CeFi, Biometrics, and Other.

I'm curious, what Topics are Important to the Ecosystem you find Yourself within?



Linkback: https://www.forex.zone/coins-and-tokens/20/crypto-ecosytems/3696/
#1 - February 19, 2022, 01:20:06 PM
« Last Edit: February 28, 2022, 07:55:36 AM by Cica »

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NFT Ecosystem:

Currently exploring NFT Portals.  There are some pretty cool features out there.

  • Infusion - infusing an NFT with another asset that can be claimed if or when the NFT is burned.
  • Content - linked content that is only visible through the NFT.
  • Royalties - a percentage of future transactions for NFTs personally created.


#2 - February 22, 2022, 11:19:46 AM

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Interoperability:

In the past the Core Philosophy of DeFi has been mentioned, which is Build for Interoperability.  


  • Cross-Chain
  • Multi-Chain

Then there is the concept of Building with Blocks.  DeFi uses the "Building with Legos" comparison where the one building uses the DeFi blocks/tools that make the most sense and provide the most benefit to the overall project.  These are existing tools and resources that are pieced together to make a new tool, resource, product, service, etc.

Below is a list of "Buzz Words" important to the Ecosystem I find myself and I am continuing to build with already existing tools as well as new tools when the become available.  The Ecosystem is clearly Cross-Chain / Multi-Chain.

So what's your Ecosystem & is it open to Interoperability?  
#3 - February 28, 2022, 08:24:55 AM

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Privacy:

  • Public Transactions
  • Private Transactions
  • Confidential Transactions
  • Anonymous Transactions
#4 - February 28, 2022, 08:36:59 AM

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Swaps:

The first Atomic Swap occurred in September of 2017 between Decred & Litecoin.
#5 - February 28, 2022, 08:42:17 AM

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Crypto Ecosytems in Coins & Tokens_xx New!
P2P Lending

A Signum:USDx P2P Lending Project is underway and here are some of the basic details.

First: Acquire USDx to track the P2P Loan and here is how that will be made possible. Within the Signum NFT Hub an NFT will be made available with 1,000 USDx connected to it. If you acquire the NFT, the 1,000 USDx will also be sent to the Signum Address used to acquire the NFT.  With the 1,000 USDx you can easily track the balance of a 1,000 usd P2P Loan. NFTs with larger amounts of USDx attached will also be made available for those who would like to issue larger loans or loans to multiple individuals.  In addition 1 million USDX is available on BTDEX for those who see value in this Use Case, it's not for everyone. Private P2P Loans should be considered between friends and do require Trust.

Example: A friend would like to borrow 1,000 usd from you. You & your friend figure out the details of the P2P Loan and you then provide them with 1,000 usd and send 1,000 USDx to their Loan Wallet for the purpose of keeping track of the loan. As your friend pays the 1,000 usd back they also send back a corresponding amount of USDx from their Loan Wallet to your Lender Wallet in order to keep track of each usd payment. After they have paid back the 1,000 usd and returned the 1,000 USDx to your Lender Wallet the loan is paid off. If there is a balance of USDx in your friends Loan Wallet then the loan is still open.

Management:
There are 2 Basic Managment options.

Option 1. Provide a loan and an active wallet. Your friend pays back the usd and has a live Loan Wallet from which they return the USDx to your Lender Wallet.

Option 2. Provide a loan and a view only Loan Wallet address. Each time your friend pays a portion of the usd back you, the lender, log into the Loan Wallet and recover a corresponding amount of USDx back to your Lender Wallet. This provides more control over the P2P Loan and ensures the USDx, which belongs to you and is tracking the loan, will not be accidentally sent elsewhere. It is important that the USDx is returned to the Lender Wallet because and additional loan or loans can be issued using the same USDx once it is recovered provided there is usd available to back it.


This 1 Token System to keep track of a P2P Loan is a simple way to manage because every transaction is visible to both parties involved.  Trust is involved because a cash loan is issued and cash is paid back, the USDx is used to track the loan.  However, with a smart contract, it might also be possible to automate the entire process making it Trustless.


Q&A:
Has this P2P Lending System been used successfully?  Yes
Why Use NFTs?  Adoption and Scaling
Why Use BTDEX?  A DEX Option
Are there other Use Cases?  Yes

Signum:USDx
https://explorer.signum.network/asset/17499635647522107780



An update will be provided after the NFTs have been added to the Signum NFT Hub, which has been delayed.  In the meantime, anyone who would like to acquire USDx for the purpose of P2P Loans, or some other reason, can acquire it through BTDEX.

---
10.30.2022 Update

Thought about deleting this post, but it provides a little history.
Due to an arbitrage event that had a drastic impact, current events, and advice taken from a variety of sources, forward movement on Signum:USDx is delicate. 

I just took a look at the stats
https://explorer.notallmine.net/asset/17499635647522107780
Circulating Quantity: 18,669,000,000.00

In reality, very little Signum:USDx is in circulation.
One wallet holds nearly all Singum:USDx.  The Singum:USDx in that wallet is not in circulation, it's the treasury that can potentially send Signum:USDX out into circulation.
Currently 9,000 Signum:USDx is in circulation and was originally backed by 9,000 USD.

Personal Note: Early Adoption of IBC

https://www.forex.zone/coins-and-tokens/20/ibc-inter-blockchain-communication-protocol/3980/msg295912#msg295912
---
#6 - March 02, 2022, 11:54:04 AM
« Last Edit: October 30, 2022, 11:34:04 AM by Cica »

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P2P Lending / NFTs

Signum:USDX

https://explorer.notallmine.net/asset/17499635647522107780

Been thinking through how to make the Signum:USDx Token more decentralized & am considering the following in connection with the NFT that has already been mentioned.

Important:
  • Taking into consideration a Signum:USDX NFT with 1,000 USDx attached for P2P loan tracking.
  • When that NFT is acquired the owner will receive 1,000 USDx, which is theirs to keep and use even if they sell the NFT.
  • If a current owner sells their NFT, new owners will also receive 1,000 USDx.

The intent behind this is to create a Chain of Value.  That Chain of Value is based on P2P Loans backed by cash, or some other asset, and tracked by the USDx.

One thing I would like to address is the following...  This is not an advertisement.  As a matter of fact, this particular P2P Ecosystem will be making its way into an already established White Paper as soon as it is 100% operational.

It is true that not every Use Case/ Idea has merit.
The value of this Use Case/ Idea is based on what it provides to those who already use it..
#7 - March 07, 2022, 12:23:34 PM
« Last Edit: March 07, 2022, 12:28:12 PM by Cica »

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You have some interesting ideas.  I need to read this more carefully when I have more time.  Thanks!
#8 - March 07, 2022, 03:33:59 PM

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I totally agree that ecosystems have been a buzz-word recently ;D I have spent some time diving deep into the GameFi ecosystem and I've been eyeing MetaWars Let me know what you think about their project and might consider investing in them someday ;)
#9 - March 24, 2022, 08:18:46 AM
« Last Edit: March 24, 2022, 11:03:25 PM by Mikser »

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Been in the background for awhile and just came around to see what's new.
I'll check out the GameFi project you mentioned.  Thanks for the info...
#10 - October 30, 2022, 10:19:17 AM

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Crypto Ecosytems in Coins & Tokens_xx New!
Regarding Signum:USDx

This has been a most interesting project. 

As stated in the description
"USDx is a Burst Token intended to be in parity with the U.S. dollar or existing stablecoins (USDS, USDT, USDC, TUSD, PAX, DAI, etc.)"

A personal opinion...  When adding Signum:USDx to the Burst Blockchain, now Signum, it was understood that balances and transactions would be publicly viewable.  As such, it was taken into consideration that wallets would be publicly viewable as well.  That said, my viewpoint is that Signum:USDx is similar to a cash in/cash out public ledger.

It has come to my attention that some viewing the public transactions assumed that balances held in wallets was debt attached to loans.  That was an assumption. 

The Use Cases for Signum:USDx are within the users imagination and potentially endless.  A peg to the U.S. dollar, as well as USD pegged stablecoins, that maintained parity was the catalyst.  That has not changed. 

Use Case:
U.S. dollars sent into a variety of Crypto projects.  Some wallets are tracking U.S dollars, via crypto, extended to a variety of DeFi protocols.  Some of the dollars, via crypto, were devastated by arbitrage, but those dollars still exist somewhere...

Original Use Case:
Let's just say I bought a car and needed an easy way to track paying back the USD cash provided by a direct Family Member.  Every single U.S. dollar was tracked and every single USDx connected to the specific wallets utilized was backed by USD.  By the way, a huge Thank You goes out to the one who trusted me enough to to back me in the acquisition of that pretty sweet ride.  You know who you are.

Some say "You have to do eveything yourself."  I understand that, I find it an admirable quality to emulate.  However, it's also nice to have Friends & Family in your corner.

---
The Whitepaper (Original Use Case) might need slight revisions, but it worked for yours truly!!!
---
#11 - October 30, 2022, 10:54:36 AM
« Last Edit: October 30, 2022, 11:47:15 AM by Cica »

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