Reserved

Introduction

In the blockchain, stablecoins occupy a large market.
As the leader of stablecoins, USDT's market value ranks third in the blockchain.
Because of its stable price, it is easier to apply to the payment field.
Its status is similar to legal currency and will have an unlimited future.
But USDT is centralized and relies on real institutions.

We will create a new algorithmic stablecoin.
Warning: This is only an experimental project. It is a completely new algorithm, theoretically feasible.

Types of stable coins

Legal currency mortgage type

By collateralizing assets such as legal currency, the corresponding tokens are minted on the blockchain.
Advantages: simple and efficient
Disadvantages: Centralized, easily affected by policies such as supervision, and the collateral is not transparent enough and relies on real institutions.
Representative: USTD, USDC, etc.

Digital asset mortgage type

Through over-collateralization of digital assets, stable coins are minted on the blockchain.

Advantages: Decentralization, over-collateralization, stable and credible value.
Disadvantages: The mortgage ratio is too high; the types of collaterals are limited, resulting in a limited total; when the price of digital assets fluctuates greatly, it is easy to cause a large amount of liquidation and liquidity drying up.
Representative: DAI

Algorithm type without mortgage

The issuance of stablecoins is minted by algorithms without collateral and is transparent and reliable.

Advantages: Decentralization, no collateral required.
Disadvantages: Most algorithms are driven by current or future benefits. When the benefits are insufficient, they will fall into a death spiral.
Representative: ESD, BAC, AMPL

Neither ESD nor BAC can avoid the death spiral.
They are driven by current or future interests, and the total amount is unlimited.
When the price is lower than the anchor price, they hope to increase the price to the anchor price through additional issuance.
If there are too many additional issuances, the future price will definitely be lower; if there are few additional issuances, the benefits are too small to achieve the goal.
The result is that after the price drops, it cannot rise back.

Although AMPL can avoid the death spiral, users’ assets are dynamic.

the goal

Realize a new algorithm that can dynamically mint stable coins and make their prices stable, which can be used for payment.

Architecture

Two currencies

Flexible Coins
It is similar to AMPL. The total amount of coins is dynamically scaled through rebase.
It is anchored at 1$, and its price is adjusted through rebase every day.
If the coin price is higher than 1$, increase the total amount (everyone’s account balance increases, and everyone makes money).
If the coin price is lower than 1$, reduce the total amount (all the account balances are reduced, and everyone owes money).
It stabilizes coin prices through rebase. AMPL has confirmed its feasibility.

Fixed Coins
It is an ordinary ERC20 coin, and the default price is anchored at 1$.
It is exchanged from flexible coin.
When the price of flexible coin is higher than 1$, it can be exchanged for fixed coin 1:1.
When the price of flexible coin is less than 1$, it can be converted into fixed coin on a pro rata basis.
Fixed coin can be exchanged for flexible coin 1:1 at any time (a small fee will be charged).
Since it can be exchanged for flexible coin at any time, its price will not differ much from the flexible coin.

Coin Minting

Flexible Coin

1. The mortgaged eth will be distributed at 1:1000; the mortgaged eth will be refunded 99% after maturity.
   1. Mortgage time: 1 month
   2. Asset retrieval time: 1 month later
   3. The time the administrator can operate assets: 2 months
2. Its initial total quantity is determined by the mortgage quantity.
3. After the mortgage time has passed, mortgages are refused.
4. Mining rewards
   1. Provide liquidity. When flexible coin rebases, mining rewards will be automatically added to the liquidity pool.
   2. The number of mining rewards is fixed every year, equal to half of the initial total.
   3. 80% is allocated to the liquidity pool of flexible coins, and 20% is allocated to the liquidity pool of fixed coins.
   4. The total after 10 years will be 6 times the initial total.
5. Mining rewards are long-term
   1. If everyone joins the liquidity pool, everyone's value remains unchanged.
   2. If someone does not join the flow pool, his assets will slowly be diluted.
   3. When the demand increases, the price of the currency will rise, and everyone will make money.

Fixed coin

1. At the beginning, the number of coins is 0.
2. Increase in quantity: It can be converted through flexible currency.
3. Reduced quantity: Fixed currency can be exchanged for flexible currency 1:1 at any time.
4. 20% of the mining rewards will be added into the liquidity pool of fixed coins.

wGOVM = Wrapped GOVM
govm swap to wGovm
1. lock govm coins in govm.contract with eth.Address
2. Administrator signature the message
3. Mint wGOVM with the message

wGovm swap to govm
1. burn wGovm with govm.Address
2. administrator unlock the govm and transfer to the address, record the eth.tx

govm v0.5.8:
1. api page: http://govm.net:9090/api.html
2. search page: http://govm.net:9090/
how to upgrade:
1. stop govm.exe
2. run ./upgrade.sh in govm folder
3. start govm.exe
If the pages are not new, press F5 to refresh the pages

How to register dpos node:
warning:
1. If you can’t get a lot of votes, voting will have more rewards.
2. There are only 23 dpos nodes in each chain.
3. Nodes with fewer votes will be replaced.
4. Request more than 10k govm.
5. Now, the registered coins(5k) cannot be returned.
6. More votes, more rewards
Step:
1. https://govm-net.github.io/docs/en/mine/windows.html
2. get node address: the wallet.key in govm/conf folder, open with notepad, "address_str"
3. transfer 5001govm to the address
4. change the "identifying_code" of govm/conf/conf.json to true, restart govm.exe
5. open /admin.html with you node and submit 5000 govm, enter identifying code on the govm.exe(command window). If timed out, try again
6. Wait 3 minutes, the registered transaction will be successfully packaged to new block.
7. Vote for the node address("address_str"), need more than 2000 votes(0.1% of network vote to be active dpos).
8. after 3 minutes, you will see the node address on dpos.html page.

new discord: https://discord.gg/tY67CUP

Can you transfer ownership to me?
https://support.discord.com/hc/en-us/articles/216273938-How-do-I-transfer-server-ownership-

govm node v0.5.6
1. bug: Zero voting, no reset time, resulting in multiple voting rewards
how to fix:
1. Reset time after voting reward
2. According to the new code, reprocess blocks and transactions
3. Added 600govm to avoid transaction processing failure
how to upgrade
1. stop govm,database
2. delete database/db_dir
3. download database_v0.5.6_20200617.zip, unzip in the database folder
4. start database( install.sh)
5. run govm/upgrade.sh
6. run govm.exe
data:https://github.com/govm-net/govm/releases/tag/v0.5.6

govm node v0.5.5
1. performance optimization: 2core 4G 50%CPU-70%CPU
2. enable change block size limit, block time interval
3. nodes page
Upgrade:
1. run upgrade.sh
2. delete conf/conf.json
3. copy conf/conf.bak.json conf/conf.json
4. If necessary, modify the configuration
5. run govm.exe
How to lower CPU usage(conf/conf.json):
1. one_conn_per_miner = true
2. identifying_code = false
3. save_log = false
4. verify_net_data = false

Chain 2 successfully created

twitter: https://twitter.com/govm_net
telegram: https://t.me/govm_net

https://govm-net.github.io/docs/en/mine/
This is the new tutorial
New mainnet, new node, new mining program

The website also supports ssl, you can use both http and https.
https://govm.net

I am developing a new consensus, which is expected to be completed in June, and should be able to restart technically in July (previously planned for August)
New white paper, after restarting, it will be updated to the official website.

New technical white paper
The new consensus will use DPOS + POW, the old consensus is POS + POW.

This is my project and I have only been developing and maintaining it myself.
[ANN] [GOVM] High scalability, theoretical TPS can exceed 2 ^ 64, already online
Future plans, I ca n’t do it alone.
Follow-up plan
1. After the development of the new consensus, the project is technically restarted( I will do it myself ).
2. Application project: a predetermined mall. If there is enough information on the manufacturer's chain, and the users believe the information. The users can order goods directly from the manufacturer. The manufacturer produces the goods according to the order and sends them to the user. Manufacturers do not need to backlog commodities and high advertising costs, reduce costs, and users can buy lower-priced commodities.

I ’m a technician, and everyone I know is a technician. They are very satisfied with their current work.  They can only help in their spare time.
so it ’s still difficult to form a team.

I understand the core technology and can develop it by myself, most of which have already been implemented. But it is impossible for me to realize the whole product by myself (Application project), it is a very huge project.

How should I find a sales and marketing team.
Although I have written the core technology in the white paper, most people will not read it.I haven't found anyone who really understands it yet.
Although I have implemented and core functions, the code is also on github, but there are fewer people watching.

How should I find a sales and marketing team.
Although I have written the core technology in the white paper, most people will not read it.I haven't found anyone who really understands it yet.
Although I have implemented and core functions, the code is also on github, but there are fewer people watching.

The core technology has been implemented and verified to be feasible.
I previously worked at Huawei for more than 7 years.
The isomorphic multi-chain solution was designed by myself.
The previous investment was my private funds.
I hope there is no ICO,  someone joins for free. But I understand that this is very difficult