Open Financial System✔︎ Pretty easy
Open financial system is defined as being available to everyone and not controlled by a single entity.
Innovation or Efficiency Gains✔︎ Again, pretty easy, Nimiq is bringing a huge leap forward in terms of accessibility and integration of cryptocurrencies.
New or improved technology which helps solve a problem, creates a new market, addresses an unmet market need, or creates value for network participants.
Economic Freedom✔︎ Basic requirement of any real cryptocurrency, easily fulfilled by Nimiq.
A measure of how easy it is for members of a society to participate in the economy. The technology enables individuals to have more control over their own wealth and property, or the freedom to consume, produce, invest, or work as they choose.
Equality of Opportunity✔︎ Nimiq is the most accessible crypto on the market right now, you don't even have to install something to begin using it or mining it.
This technology is accessible to use by anyone with a smartphone or access to the internet. It contributes to the broader mission of building the on-ramps to Finance 2.0.
Decentralization〜 The architecture of Nimiq is decentralized however the hashrate is clearly not right now.
The network is public, decentralized, and enables trustless consensus.
Security & Code✔︎ Nimiq team has done everything it could to ensure the quality control of the code.
Assessment of engineering and product quality.
Source Code〜 Of course Nimiq is open-source but the documentation is still weak, the good thing is that it's being redone.
Open-source code, well-documented peer-review, and testing by contributors separate from the initial development team on GitHub, etc.
Prototype✔︎ Well, the Nimiq Network is live.
There is a working alpha or beta product on a testnet or mainnet.
Security & Code✔︎ Nimiq team has set a bug bounty program and has been very transparent on the issue of the 25th.
Demonstrable record of responding to and improving the code after a disclosure of vulnerability, and a robust bug bounty program or third party security audit.
Team✔︎ You can even see them on video hehe.
Assessment of short-term operating expectations and decision making.
Founders and Leadership✔︎ The profiles of the team are all known and easily checked.
Able to articulate vision, strategy, use cases or drive developmental progress. Has a track record of demonstrable success or experience. If information is available, Coinbase will apply "know your client" standards to publicly visible founders or leaders.
Engineering✔︎ They released the product which is a damn good track record in a sector full of vaporwares.
Assessment of the engineering team and their track record of setting and achieving deadlines.
Business & Operations✔︎ There has been some "lean" periods in terms of communication but overall the team has never stopped interacting with us. When it comes to cash management the dev team should be a model for everyone else with its last transparency report.
History of interacting with the community, setting a reasonable budget and managing funds, and achieving project milestones. Thoughtful cash management is a key driver of the project's long term viability.
Specialized Knowledge and Key People〜 Let's be honest: it is right now, that said the project protocol isn't even 6 months old.
The project leadership is not highly centralized or dependent on a small number of key persons. Specialized knowledge in this field is not limited to a small group of people.
Governance✔︎ Nimiq has a foundation.
Assessment of long-term operating expectations and decision making.
Consensus Process✔︎ Well it's like Bitcoin, node operators decide whether they want or not to follow an update.
There is a structured process to propose and implement major updates to the code, or there is a system or voting process for conflict resolution.
Future Development Funding✔︎ Yes, see the intended use of fund.
There is a plan or built-in mechanism for raising, rewarding, or allocating funds to future development, beyond the funds raised from the ICO or traditional investors.
White Paper〜 There is the "high level" whitepaper of the ICO however it doesn't really explain in detail how Nimiq works.
Justifies the use case for a decentralized network and outlines project goals from a business and technology perspective. While a white paper is important for understanding the project, it is not a requirement.
Scalability✔︎ Like pretty much every project, that's what Robin is currently working on by the way.
Assessment of a network's potential barriers to scaling and ability to grow and handle user adoption.
Roadmap✔︎ We should have the roadmap soon™️.
Clear timeline with stages of development, reasonable project milestones, or built-in development incentives.
Network Operating Costs✔︎ Yes, the team has been considering second layer solutions like Lightning Network or Liquidity Network.
The barriers to scaling the network have been identified, or solutions have been proposed or discussed. The resource consumption costs for validators and miners are not the main deterrents to participation.
Practical Applications✔︎ The new Nimiq shop is a great example of it.
There are examples of real-world implementation or future practical applications.
The asset is a separate blockchain with a new architecture system and network, or it leverages an existing blockchain for synergies and network effects
Regulation✔︎ I'm not a lawyer but I guess it can
Can Coinbase legally offer this asset?
US Securities Law〜 Hard to say, they have this checklist and the fact that some NIM were given against NET which were distributed through an ICO makes it kind of blurry
The asset is not classified as a security using Coinbase's Securities Law Framework.
Compliance Obligations✔︎ Conversion from NET to NIM went through a KYC specifically for that.
The asset would not affect Coinbase or Coinbase's ability to meet compliance obligations, which include Compliance Obligations, Anti-Money Laundering (AML) program and obligations under government licenses in any jurisdiction (e.g. Money Transmitter Licenses).
Integrity & Reputational Risk✔︎ I don't see why.
Would listing the asset be inconsistent with Coinbase policy?
User Agreement✔︎ I read it and it's doesn't.
The asset, network, application or fundamental nature of the project does not constitute a Prohibited Business under Appendix 1 of the user Agreement.
Liquidity Standards〜 Weak liquidity right now.
How liquid is this asset?
Global Market Capitalization〜 Weak capitalization.
How does the market capitalization compare to the total market capitalizations of other assets?
Asset Velocity〜 Again, weak velocity.
Trade velocity, or turnover, is a significant part of market capitalization. This is a measure of how easily the asset can be converted to another asset.
Circulation✔︎ It's available.
For service or work tokens, new supply is created through consensus protocols. If the supply is capped, then a material amount of the total tokens should be available to the public.
Global Distribution✔︎ HitBTC/Tradesatoshi/LAtoken/BTC-alpha/Nimex.
Where is this asset available to trade?
Total # of Exchanges✔︎ 5.
The number of exchanges that support the asset.
Geographic Distribution✔︎ It's tradable everywhere and I guess you can count Agoras as a DEX.
The asset is not limited to a single geographic region and is available to trade on decentralized exchanges.
Fiat and Crypto Pairs〜 Fiat pairs don't.
Fiat and crypto trading pairs exist.
Exchange Volume Distribution✔︎ It is.
If secondary markets exist, then volume should be relatively distributed across exchanges.
Demand✔︎ The Nimiq community I guess and of course it does.
What is driving demand for this asset and does it lead to stronger network effects?
Consumer Demand〜 It would be presumptuous to say there is a customer demand for Nimiq right now.
Customer demand is carefully considered, however, any asset which is created from a fork, airdrop, or automated token distribution is subject to a separate set of criteria.
Developers and Contributors✔︎ Nimiq has already a flourishing developper base.
Growing developer base and measured progress as defined by the number of repositories, commits, and contributors.
Community Activity✔︎ Yes it has.
Dedicated forums are available where developers, supporters, users, and founders can interact and build a community and offer transparency into the project. The team provides regular updates or is responsive to feedback.
External Stakeholders〜 It doesn't as far as I know.
There are investments from venture firms or hedge funds which have experience working with crypto companies or projects. The project has corporate partnerships, joint ventures, or dedicated consortiums.
Change in Market Capitalization〜 Sadly not.
The market capitalization has grown after the network has activated, demonstrating increased demand for the asset after the project's launch.
Nodes✔︎ You can even check them on a map on https://miner.nimiq.com/
Growing # of nodes on the underlying blockchain. The project has a globally distributed node network, meaning operating nodes are not contained in a single country or geographic region.
Transactions, Fees & Addresses✔︎ Check the stats
Growing # of transactions and fees paid over time. Growing # of asset or token holders, which is an indicator of asset distribution.
Economic Incentives✔︎ It's a PoW coin so yes.
Are the economic structures designed to incentivize all parties to act in the best interest of the network?
Type of Token✔︎ It's not backed by anything but the work done to generate them.
It is a service, work, or hybrid token. Tokens backed by fiat or other physical assets are categorized as US securities and will not be considered at this time.
Token Utility✔︎ Nimiq is a general payment protocol.
There is utility from obtaining, holding, participating, or spending the token. The team identifies a clear and compelling reason for the native digital asset to exist (i.e. the main purpose is not fundraising).
Inflation (Money Supply)✔︎ You can check the inflation curve here.
There is an algorithmically programmed inflation rate which incentivizes security and network effects. Or, if the total supply is capped, then a majority of the tokens should be available for trade when the network launches.
Rewards and Penalties✔︎ Yes
There are mechanisms (such as transaction fees) which incentivize miners, validators, and other participants to exhibit 'good' behavior. Conversely, there are mechanisms which deter 'bad' behavior.
Security✔︎ The smart-contract of the ICO was audited and they didn't lose the fund yet so I guess it's secure haha.
There is a focus on stringent security protocols and best practices to limit scams, hacks, and theft of funds.
Participation Equality✔︎ The number of NIM distributed through NET is only 7% in any case.
Best efforts by the team to allow a fair distribution of tokens (i.e. setting initial individual purchase caps to limit the risk of small number of investors from taking a majority of the supply).
Team Ownership✔︎ See the vesting schedule
The ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically incentivized to improve the network into the future.
Transparency✔︎ See the transparency report.
The team should be available and responsive to questions or feedback about the product, token sale, or use of funds across multiple forums.
Total Supply The team should sell a fixed percentage of the total supply, and participants should know the percentage of total supply that their purchase represents, or have a clear understanding of the inflation rate.✔︎ All informations are available freely online.
Ethics or Code of Conduct✔︎ Check it here
White paper or project website should have an ethical or professional code of conduct.
jy-p: the server side of SPV (in dcrd) was deployed in v1.2.0, the client side of SPV (in dcrwallet) is in our next release, v1.3.0. Still some minor bugs in SPV that are being worked out. There will be an update to add the latest features from BIP 157/158 in the next few months. SPV will be optional in v1.3.0, but it will become the default after we get a proper header commitment for it (#general)Decrediton: besides regular bugfixes and design improvements, several components are being developed in parallel like SPV mode, Politeia integration and Trezor support.
emiliomann: stakebrasil is one of the pools with the lowest number of missed and expired tickets. It was one of the first and has a smaller percentage than the most recent ones who haven’t had the time to do so. (...) The Brazilian pool should be the one with the more servers spread around the world: 6 to decrease the latency. This is to explain to you why the [pool fee] rate of 5% (currently around 0.06 DCR) on the reward is also one of the highest. girino: 8 voting wallets now. I just finished setting up a new one yesterday. All of them in different datacenters, 3 in europe, 3 in north america, 1 in brazil and one in asia. We also have 3 more servers, 1 for the front end, one for "stats" and one for dcrdata. (#general)On the mining side, Luxor started a new set of pool servers inside mainland China, while zpool has enabled Decred mining.
Marina Silva is the first presidential candidate in Brazil using blockchain to keep all their electoral donations transparent and traceable. VotoLegal uses Decred technology, awesome use case! (reddit)The story was covered by criptonoticias.com (translated) and livecoins.com.br (translated), the latter received hundreds of upvotes and comments on brasil.
We continue to see institutional interest in DCR. Large block buyers love the concept of staking as a way to earn additional income and appreciate the stakeholder rights it affords them. Likening a DCR investment to an activist shareholdebondholder gives these institutions some comfort while dipping their toes into a burgeoning new asset class.
Big news in June: Facebook reversed their policy on banning crypto ads. ICO ads are still banned, but we should be OK. My team filled out the appeal today, so we should hopefully hear something within a few days. (u/timhebel on reddit)After couple weeks Facebook finally responded to the appeal and the next step is to verify the domain name via DNS.
oregonisaac: many open source devs at OSCON were VERY interested in Politeia and it was probably the #1 hook that resulted in lots of long conversations about what makes Decred unique from the ground up. (#politeia)
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