Understood. So if I don't use the advance sending, how will my reserve become liquid? is it a matter of time or is there anything I can do? All my balance has been in the wallet since 2017
Would anyone be able to give me more information about how a reserve becomes liquid? the same balance have been sitting in the same wallet since 2017 and only 0.003 % of my balance is liquid. Is moving it to ax exchange the only way to trigger the 1 month period for unfreezing the funds? would moving the reserve to a different private wallet trigger that 1 month period too?
Thank you in advance.
Take a look at that visual explainer. Reserve and liquid is determined by the supply and the users vote on the supply when they stake. When supply goes up the reserve turns into liquid. In QT you can see a chart of each input that tells you precisely when it changes. When you send reserve it is delayed by a month and that delay has no effect on it's chart. The one month is actually just a difference in speed from reserve to liquid to distinguish them and so sending them has no effect. You have to wait for supply to change by community consensus which usually happens because all the liquid gets bought up and demand increases.
Hi David, thanks for the link, the presentation is a nice complement to the Dynamic Peg whitepaper.
Now, I am usually able to ingest, process and understand technical documentation fairly quickly and have wrapped my head around the various consensus mechanisms, (self)governance models or scaling solutions of numerous projects in the crypto space, yet I still find myself lost, when it comes to how Liquid/Reserve BAY allocation goes, as part of the Dynamic Peg feature. I do apologize for that, I must be missing a piece, that - when filled in - will make everything just click for me.
From what I could gather, there tokens have various states, that have different voting weight in the network, and holders vote for a deflationatry or inflationary trend, ie. influence the circulating liquidity and price. I also understood that as an individual, I have no direct (better to say "instant") say as far as how many of my tokens are Liquid or Reserve. After checking back after three years I found, that only 0.8 BAY of my 20k holdings is liquid, so I did two test transfers, one to myself one to LAtoken, waited a month and found that the tokens were still (and now I know expectedly) Reserve. I need to understand, how I can participate in the voting (eg. through the wallet?), how often this takes place, basically how to gain control over my investment? I admit I plan to cash out marginally but still have a strong affinity to the project and would love to see it succeed! The decentralized marketplaces are the future and we need BitBay! I just need to understand this aspect of the tech better, could you give me a hand and do a ELI5 for this scenario?
Thank you for your kind understanding and time to answer my question.
D.