Token creation can happen by any method you choose. Bring your own tokenomics. On our chain currently we have a 5% APR that mints new tokens every 25 hours and distributed them to various funding accounts. In our tokenomics 20% gets distributed to nodes for making required transactions on HIVE in consensus. Some get put in a fund to reward new Apps/VR...
All of this is basically a system level smart contract.
Some of those functions queue node operators to make HIVE transactions that handle escrow and collateral. Meaning there is a trustless way to find operators in the network, send any two properly liquid accounts an escrow transaction, and be confident you'll receive the appropriate number of tokens. Likewise, if you're selling your tokens for HIVE/HBD the worst case scenario will appear to be a failed transaction as your tokens are returned by the network(the failing party will lose double this amount)... but the network will handle the trade and automatically generate the transactions necessary to complete the transaction and get you your HIVE/HBD. Since the parties handling these transactions are using free transactions the fee's aren't priced in GAS, can be paid for by network inflation, and only need to be high enough to prevent wash trading.
The point of this is to have the layer 2 token; In this case DLUX, but anything on HE could live here as well. Trustless swaps from Layer 1 to Layer 2 with out an intermediate token or centralized liquidity provider. This could be used to provide oracle services like 3speaks Proof of Access... or multi-sig in governance for cross chain swaps.
If I'm understanding what you're thinking... this is not a Hive-Engine replacement token to build other tokens. That would be the intermediary I've negated.
Token creation can happen by any method you choose. Bring your own tokenomics. On our chain currently we have a 5% APR that mints new tokens every 25 hours and distributed them to various funding accounts. In our tokenomics 20% gets distributed to nodes for making required transactions on HIVE in consensus. Some get put in a fund to reward new Apps/VR...
All of this is basically a system level smart contract.
Some of those functions queue node operators to make HIVE transactions that handle escrow and collateral. Meaning there is a trustless way to find operators in the network, send any two properly liquid accounts an escrow transaction, and be confident you'll receive the appropriate number of tokens. Likewise, if you're selling your tokens for HIVE/HBD the worst case scenario will appear to be a failed transaction as your tokens are returned by the network(the failing party will lose double this amount)... but the network will handle the trade and automatically generate the transactions necessary to complete the transaction and get you your HIVE/HBD. Since the parties handling these transactions are using free transactions the fee's aren't priced in GAS, can be paid for by network inflation, and only need to be high enough to prevent wash trading.
Do I understand correct? DLUX is needed for token creation, or why 2nd layer even needs own token DLUX, wouldn't that complicate the design?!
The point of this is to have the layer 2 token; In this case DLUX, but anything on HE could live here as well. Trustless swaps from Layer 1 to Layer 2 with out an intermediate token or centralized liquidity provider. This could be used to provide oracle services like 3speaks Proof of Access... or multi-sig in governance for cross chain swaps.
If I'm understanding what you're thinking... this is not a Hive-Engine replacement token to build other tokens. That would be the intermediary I've negated.