Cystum Status Update
Hello all just stopping in to report the status of Cystum Multipool. Currently I am in the process of bug testing the stratums and finishing the payout system for the multipool. There have been many delays with the multipool and I know everyone is eager to use it. I am here and I am working on it almost every day that I can. With this being said you can expect to see registrations open up soon (next week) and users will be able to set up their workers and other details.
With the Cystum Multipool opening soon I am putting together a document for a fund raiser we will be running either through startjoin or gofundme (or any other if someone has a better preference) to raise some money for Cystum. I'm looking to do 3 rounds of fund raising with 2 of those rounds being used for hardware to be purchased for the Cystum. The Cystum team is going to use those funds to purchase ASICS and some GPU's for mining the Cystum pool. The plan is to give out shares to the donors based on the amount they donated. These shares then would be used to determine how much of (x)coin each donor receives from the coins mined by the ASICS and GPU's purchased. Your next question I'm sure is: Will we be able to buy and sell cystum shares? Yes! Now I know there will be many more questions about the shares and I will provide the answers in the document I am writing.
You can always make it an asset on NXT Asset Exchange... Just saying, but I think there is a pace for a product like yours there right now :-).
I will take a look at the NXT asset exchange. I have to work out some more details on the Cystum Shares. As of currently I need to have control over the shares to know who has what in order to make payouts to the share holders from the Cystum Multipool. I know there are ways around this and I'm looking in to them but as for now I'm going to use the shares exclusively on Cystum Multipool. Shares will not be able to be mined.
The dividend payout is literally one-click with the Dividend+ part of the Supernet GUI. You just put in the total sum that you want to pay out, it will calculate who gets how much based on their share count & sends it out as one transaction. The issuer account gets no dividends. The only problem is the dividends would be in NXT... kind of a problem, but maybe SLG could be made to work with InstandDex (upcoming in a matter of weeks I think) or Coinomat that would then do the exchange... Yeah, I can see this getting a bit complicated until Supernet 1.0 gets released. That should work as a multi-coin wallet with instant decentralized exchange so people would get NXT dividends in & SLG out... or do it with any other included coin.
Sorry, did not mean to hijack the thread, I am done ranting now. :-) I just believe in good crypto working together... complementing each other, is it were.