Quote from: dzimbeck on May 29, 2020, 08:49:13 PM

Quote from: Asimmo on May 29, 2020, 01:37:16 PM

Quote from: dzimbeck on May 29, 2020, 09:47:23 AM

Quote from: LuckyLeprachaun on May 29, 2020, 07:51:59 AM

Quote from: Asimmo on May 29, 2020, 07:21:52 AM

Quote from: dzimbeck on May 28, 2020, 01:38:26 PM

Quote from: Asimmo on May 28, 2020, 01:19:44 PM

Quote from: dzimbeck on May 28, 2020, 02:17:26 AM

Quote from: Asimmo on May 27, 2020, 09:09:27 PM

Quote from: BitBaydev on May 20, 2020, 01:09:49 PM

The BitBay Advanced Web Wallet has now been updated to be compatible with the Dynamic Peg protocol.

You can now send, receive and store your BitBay (both BAYL and BAYR) at https://wallet.bitbay.market

BAYL and BAYR can also be traded on the LATOKEN exchange here:

https://latoken.com/exchange/BAY-BTC
and
https://latoken.com/exchange/BAYR-BTC

Thanks,
Shorn.

Hi guys

What happens when I send Bitbay from desktop wallet to Latoken account.
1. On which type of address will I receive it? Reserve or Liquid?
How to make sure receiving on Liquid address?

2. If received on Reserve address, can I send it to Liquid address on Latoken exchange itself?

Latoken might have different deposit addresses even though liquid/reserve coins are simply determined by peg index and could in theory be sent to the same one, just deposit where they ask you to when depositing one or the other.

Who asks in which address to deposit? I`m sending coins from my desktop wallet to my Latoken address. (BTW, liquid and reserve have same addresses in Latoken).

How can I mention/instruct to send my coins from wallet to Latoken address, so that to make sure it`s received there on liquid address?

When you send liquid coins to the address Latoken will register them as such. As you say its the same deposit address, should be fine.

Thanks.
I sent coins from desktop wallet "from Reserve to Liquid".
So it will be received on liquid address, right?

Also, how many block confirmation does it need? I`m waiting for almost 30 hours already, still not received..
1127 confirmations already..

You cannot send reserve to liquid, it is controlled by the peg system. If you could do that it would defeat the whole purpose of this new code.

Yeah exactly, if you sent reserve to Latokens receive address it will be locked for a month and when confirmed it will still be seen as reserve if the supply remains the same.
You should read up on the peg to see how it works. The supply is dynamic and controlled by the community. This is what protects the price.

If it`s impossible to turn reserve to liquid, why there is such option in wallet?
I already waited 1 month for this exchange: Reserve to Liquid.. (Whole April)

1. What can I do now? Why should I loose 1 more month now and even after that, it will stay in Reserve?
2. Who decided to allocate coins reserve/liquid - on the start of dynamic peg?

That's not an option in the wallet. The option is to simply send reserve to another address which locks it for a month. You should really read up on the mechanics of the peg.

https://www.docdroid.net/d5wcK4D/dynamic-peg-visual-technical-reference-20190528.pdf

That pdf explains how it works.

If you already sent reserve then in one month you can trade it based on the liquidity shards, chances are it will be mostly reserve unless inflation happens and some becomes liquid. You can not change a coins liquidity shards by sending it, the recipient gets exactly what you sent.

The allocation of liquid/reserve is determined by the supply and the liquidity shards. So at the start of the peg all inputs are considered new and have 1200 liquidity shards each containing 1% compound except for the last shard which contains the remainder. Then the supply starts at 0 index which means 100% liquid and 0% reserve for all users.

Then as users vote to deflate shards in that array are converted to reserve, and they would convert back to liquid upon inflation.

The reserve coins can be sent with one month time-delay and that has no effect on their liquidity shards so upon receipt their ratio of BAY/BAYR is still determined by the supply index. In other words, you send precisely what you send. In fact, each time you send every tiny little shard in the array that you are sending is accounted for and tracked. So the precise liquidity and speed of inflation/deflation of each transaction is known down to the last satoshi.

There is no way to game this system. The supply index is what determines how many coins are in circulation and it's fair as it effects all users and all users have influence on the supply index when they stake/vote.

Thanks for such detailed explanation, appreciated.

So, to sum up in simple way: I`ll receive my coins in Reserve account in Latoken, can`t do anything by myself, these coins will be slowly, automatically, part by part transfered to Liquid address in Latoken, "when time comes".
Where am I wrong?

Asimmo

Posts

Merits