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RE: Breaking Tradeqwik News

in #tradeqwik7 years ago

Since scrolling back through history is a PITA, here's the detailed instructions. BUT, you will still need to come to Discord to get the full details. This will just save you from having to scroll back.

"here's what's needed.... Email title "Convert To vX" include the viva.id, the amount and the currency. "Convert vX to VIVA" viva.id, amount, currency Also note that if you make this in .csv style, that makes my job of copy/paste a little easier. These manual conversions are a 1 time courtesy, I will never do it again after tonight. They are done exactly at peg with no fees. Your current BTC, LTC etc can convert to non-gatewayed vX BITCOIN, LITECOIN etc and if you choose that option, you will receive a vX dividend payment equivalent to 3 days worth of dividends since that is now how long this maintenance cycle has technically lasted. Finally, you can also choose to pair jump directly, again at peg. Just say "Convert vX to vX, your viva.id, the amount of the base, the base currency and the counter currency, example. "Convert vX to vX" 1234567797,1, BTC,MONERO" You can request anything listed here.... https://api.coinmarketcap.com/v1/ticker/ for conversion to vX and be first in the new markets when they open. (keep in mind these conversion requests produce assets that cannot be gatewayed, but do pay interest)."

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Here's another useful explanation:

"we will be creating markets that will look like BITCOIN/BTC, LITECOIN/LTC etc. The purpose of these markets is to separate out gatewayable assets from non-gatewayable assets (you can withdraw BTC immediately, but BITCOIN is just something that stores and transfers 1 bitcoin worth of VIVA, according to the coinmarketcap). Once the viva.cash gateway launches, the BTC, LTC, etc assets will be gatewayed there and TQ will be dealing exclusively in vX as designed. For now we just need to carry this load as we get the economy moving and I don't want to get into a situation where we end up with a fractional reserve that we would then have to remedy in order to make things work correctly again. So just keep in mind BTC = I want on or off of VIVA. BITCOIN = I want to hedge. BITCOIN and other vX will gain an interest rate in order to encourage their holding, and the more complicated formula that relied on reserves will just go away and we revert to a fixed spread again."

Thanks for clarifying and showing what step to follow.