Quote from: lasvegas83 on July 27, 2017, 06:45:34 AM

Quote from: robpbb on July 26, 2017, 06:05:15 PM

Quote from: Bankrunner on July 26, 2017, 02:53:59 PM

Quote from: cloakteam on July 25, 2017, 04:36:56 PM

https://www.cloakcoin.com/files/images/generall/cloak_update.png

Hello Community & Friends!

Even the hardest workers need to re-energize, so please be informed that most of Team members are about to go on their annual summer holiday (some are already there).
Cloak Team is entering vacation mode from August 01 until August 25.
During this period there will be no major updates or big news, of course there will always be someone monitoring and managing the project, but mostly from the back-office.
The community and available Team members continue the awesome work of supporting the new people arriving to the project.

http://i.imgur.com/0uuTRtb.png

We'll be returning to work after vacation and look forward to kick-off the much awaited developments in the project:

Security Audit and Open-Source release

Specialized security companies have been contacted for the code audit before the Open-Source release.
More details on that will be announced soon.

We'll be back!!!

Have fun and enjoy your vacations also.

Peace & Love

Team Cloak

I think something this project is missing is a development funding source similar to Dash's treasury which has been phonemically successful.

What if every staking cloak wallet had the opportunity to vote on proposals submitted to the network with a 1 coin 1 vote ratio with similar passage rules as Dash's, %more yes's than no's, have this project treasury funded with 1% of the interest stake generated by all the wallets, dropping the interest paid cloak stakers to 5%, and burn unallocated coins lowering the inflation rate. I would be very willing to lose 1% to see a collective funding source created so all sorts of projects, including the dev team can be funded on an on-going basis.

The approximate current 5,000,000 coin supply has a total 300,000 coin increase this year with the 6% inflation, 1% would be 50,000 coins worth about $250,000 at the current $5 price, A nice sum for a small full/part time Dev team.

If Cloak had the same approximate market cap as Dash at $1.5 Billion, the 1% is worth $15 million per year or $1.25 million per month very similar to what Dash's current monthly budget is, $1.3 million.

What are the communities thoughts???

I like the idea. Most coins don't give 1% APR let alone 6! I'd be happy donating 1% of the staking to a wallet address that funds full time devs.

I like that idea also Cheesy

We already discussed it internally and would probably realized it after open source

For sure is a hardfork required but will bring us further forward.

you have my full support i think the devs have to get some % from the coin overall in order to use that extra cash boost and to make more exposure for the coin in the main channels and hopefully also invest in extra development

cloak coin team thank you for all you have my vote