After splitting my pinky toe right wide open within a few minutes of waking up after doing a proper stub off the bed frame and restarting my PC only to realize my "Music & Storage" NVME drive seems to not be registering on the workstation leading me to believe that I've possibly lost the past decade of music production, decided to focus on all that bullshit later... in favour of trying to make up for taking yesterday off of coding. As I'm sure nobody is surprised, I'm behind on Hive.Loans planned launch window which of course sucks like hell, but isn't something that can be rushed.
- Finish up the Automated Site Audit and it's API for external Monitoring (Basically Done)
- Complete "theSeer.js" module which acts to estimate dates and blocks for repayments
- Polish up the repayment routing to lenders upon power-downs of borrower accounts
- Get the manual repayments on lending contracts to properly register and unlock keys
- Finalize and briefly test the HLSHARE dividend distribution of site revenue
- Do some final testing on the newly added exchange code to ensure intended operation
- Implement "testing" mode with hard limits on balance, lend contract amounts, etc etc.
- Further testing and security architecture polishing of the batch withdrawal system
- Reverse engineering of the Hive Keychain save files and privkey generation needs finished
- Get the "hiveScribe.js" module finished up to allow for public records of site action
- One final look into the site sanity checks and security functions working as intended
- Start implementation of the delegation lending market, likely won't be live in v0.1.0
( the ability to lend both the site and other users HP has been seen as a need, due to the site's need for HP )
While this seems like a shitload left to be done, the reality of it is that it shouldn't take me more than 40 hours or so hopefully to get these things wrapped up, this does however mean that when the site goes to v0.1.0 it will quite literally be testing, as I'll not have had time in that ~40 hours of finish up dev work to do much more testing than ensuring the function fires as intended.
This list above isn't all inclusive nor does it accurately outline the full scope intended to be brought to market in the final product. While I could likely keep adding things on and effectively keep the site in a "rolling beta" state for the next year or two that simply put isn't fucking acceptable. The HIVE ecosystem needs the lending contract functionality in the worse way and this v0.1.0 release will mainly be focused around testing that aspect, with the other stuff just sort of thrown into play as a bonus and test of the market demand of sorts, if functions don't get used or are deemed to not be production ready, they will be removed. When v0.1.0 testing is completed to everyone's satisfaction and the site is proven "safe to use" experimental software then subsequent beta testing will be done on the Beta.Hive.Loans domain allowing for the cutting edge stuff to be tested before making it to the main production side of things. In doing this the hopes of not falling into a "rolling beta" style pattern where the site never has proper releases is hopefully avoided.
( a wee look into the chain syncing output.. Slower than usual, at only 4 blocks a second and 296 operations a second )
The HSC project as well as the Hive-Roller re-write are the next things on my "to-do" list and will get more focus upon a successful beta test of v0.1.0. Hive-Roller.com I've "back-burnered" for way too damn long and it deserves some serious upgrades, which are actually written already and in use on a sister site on another non-graphene network, but need further testing / polishing.
As far as HSC (Hive Smart Chain) development is concerned it needs to be further developed before we can go into a testing phase, and with certain large stake holders working on their own vision of distributed bytecode execution / smart contract support here on HIVE and being able to afford to field some 30+ people on their development side of things compared to my unfunded 1 lone wolf developer the likelihood of HSC being launched before the alternatives are is simply put going to be up to community support, as the likelihood of garnering the coveted whale votes I'd need to be thrust into funding are very likely to never be extended out of conflict of interest or fear of competition. I've got a few highly knowledgeable team members lined up to help, but lord only knows I cannot expect anyone to work for "IOUs" or in lieu of payment.. That shit simply isn't fair / cool.
I might be entierly off in my presumtions that certain high stake holder accounts won't support the HSC project due to their own development pushes into the smart chain integration of HIVE as a whole and I honestly hope I am.. However given that "this is business" and what I'm doing could easily be viewed as a competing service rather than an easily accessible alternative to the other smart contract systems being built for HIVE, I'm not going to be terribly surprised if simply put support is withheld in favour of larger, better funded teams being first to market, it is what it is..
The first users for the first month or two will be 100% testers on an innovative experimental software platform. I'll have links set up to github for bug reporting and there will be limits on things like loan amounts and how much HIVE can be on an account at any one time. Backups of the site and it's systems will be regularly taken to ensure in case of a massive glitch in the system things can be restored, however due to the untested nature of the site, I've sided on the cautious end of things until the platform is proven solid over the course of a month or two. This is the way.
The Good News:
Speaking of shareholders, the initial trading asset of the exchange side of things on the site will be only the HLSHARE asset, which will be limited to 100,000 units at an initial price of 1 HIVE per a unit. All shares will be voting shares and by holding said HLSHARE asset this will entitle the holder to a monthly dividend equaling a total of 0.000002% the Hive.Loans entire revenue through fees per each HLSHARE held. Holding all 100,000 HLSHARE would ultimately result in a dividend of 20% the sites revenue being paid out to the holders account monthly, paid at the end of each month and verifiable through not only the site self audits but also on a revenue display for the month available to shareholders. This data of which shareholder holds how much will have an option to go "incognito" mode and hide holdings and stats from the users profile in a later version.
All in all, while reluctant to put any more deadlines or estimated launch dates out due to me completely missing the last two.. I'd be incredibly disappointed in myself if we weren't testing on Hive.Loans v0.1.0 by mid month. As that would take us a full month behind the projected original schedule. Granted this in part was caused by the time off I took during the Stabilizer shake up.
One service element I'm toying with idea wise and looking into it's feasibility is allowing for the trading of Hive-Engine assets on the websites exchange but rather than enforcing the current "SWAP.HIVE" trading pair that the HE platform insists on allowing for HE tokens to be listed and traded for HIVE directly. Now by no means is this something that is going to be included in v0.1.0 of Hive.Loans but is certainly something I'm highly considering in a following release. The driving thought behind this is that having alternative platforms to trade these popular within the community assets for HIVE directly rather than a proprietary "SWAP.HIVE" token that incurs a 2% (or something) fee to get in and out of might serve to increase the usage of the HE style tokens. When the HSC project goes live it's HRC-20 (ERC-20) style tokens will also find support on the sites exchange.
All in all the Hive.Loans site is gearing up to be an incredible inclusion of fintech on the HIVE network and will ultimately serve as not only an attractant to potential outside capital, but will also serve as the platform to which the newly invented "account as collateral" lending contract model will first find its legs and test out what effectively is what I consider a viable answer to the "stake liquidity" issue on HIVE that may be viewed as enough of a detriment to keep some of the "smart money" away.
I'm trying to delivery what effectively should have been an answer to the stake liquidity issue years ago while at the same time offering other highly demanded financial tools / investment vehicles. Keep in mind this will all be open sourced as well, allowing others, if they don't like how I'm running things, to grab the code and utilize it as they see fit. With that being said though there is going to be some form of licensing and protection against usage on other graphene chains implemented either prior to v0.1.0 launching or in a subsequent release. I'm indifferent to others within our HIVE community using the code, but will certainly go out of my way to make it extremely difficult if not "impossible" out of the box to run the Hive.Loans codebase on "competing" networks.
The Bad News:
- Accounts will be limited to 1000 HIVE in them at a time, with annoying warnings if exceeded
- Lending contracts will be limited to 1000 HIVE and 4 week durations initially for testing
- Futures positions will incur an upper 100 HIVE limit and bankroll investing will be limited as well
- The amount of lending contracts able to be fielded will be reduced from the non-test version
- The on-site charting will not be the final version in this v0.1.0 launch and may display oddly
While the site sure as hell will bring in a new paradigm of how HIVE is viewed both internally by our own community and externally by the greater crypto ecosystem, part of me wishes I'd had another 3 or 6 months of development time available to me before the highly anticipated beta testing and full launch phases of the site. It's still an innovation and somewhat of a marvel if I'm briefly allowed to "toot my own horn" but it pales in comparison to what features and tools will be present in the full v1.0 production release planned for later this year, with all that being said though, I am super excited to be nearing the testing phase and while part of me dreads the potentially mind numbing amount of bugs needing to be fixed here coming up, a greater part of me is stoked to be able to offer HIVE what effectively is a first of it's kind prototype financial tool that no other network in crypto offers.
Being "first to market" always has it's advantages and pitfalls, I'm going to need the communities honest effort and aide in testing things and reporting bugs in order to deliver the best production releases possible. None of this is possible nor worth while without community support and I'd like to thank everyone who is excited for this platform and it's abundant opportunities for HIVE utility.
The Ugly News:
This creation of the mobile apps is almost entirely dependent on how much seed capital the initial HLSHARE offering generates to afford these luxuries of development, as bringing in a second developer to create these apps who is better specialized in App creation is a far more lucrative and better usage of time and capital than having me pick up these skills and focusing on that. I have a developer in mind for the mobile app, and while he's a bit swamped at the moment with his own projects, I can't imagine he'll turn down the opportunity to smash out the Hive.Loans mobile app given a large enough capital compensation for this efforts offered.
The exchange side of things and well as the Hive Power delegation market (similar to dLease.io) won't be making it into the v0.1.0 test phase release other than the above mentioned HLSHARE / HIVE asset pair on the exchange being present. The reason for this is two fold, firstly the hardware required to support all of these crypto wallets listed on the exchange far exceeds my current monthly budget and secondly the code to facilitate the deposit and withdrawal of non-HIVE based currency isn't implemented yet. These are things that will be worked on in subsequent updates and again, will ultimately fall on how much capital the HLSHARE initial offering on site generates to make the inclusion of more hardware to run wallets financially feasible.
The planned "fast swap" style exchange (similar to the service blocktrades.us provides) will also be missing from this v0.1.0 release, for the obvious reasons stated above and also due to the very nature of such a service requiring a fairly well populated set of "books" in order to properly facilitate "fast swap" style trades. In a positive note on the "fast swap" service though, the site fee charged for this service will effectively half of the current 1% standard fee charged by sites offering this service. Shareholders will effectively end up splitting 0.1% of the total volume of the "fast swap" service in the future as an addition to their already extensive list of revenue sources from the site.
HP Delegations to Hive.Loans are Going to be Needed!
custom_jsonbreadcrumbs following a similar format to popular apps using the same operation a vast amount of RC to perform these proof writes will be required. Hive.Loans itself has no need for the voting power attached to the delegations but rather is interested only in acquiring enough RC to be able to perform all required blockchain proof writes it needs to and being able to recharge at a rate that is greater than it's daily usage. Once a later version of the site migrates to HSC the need for delegated HP will be reduced a fair amount however for what is likely to amount to the first couple releases after v0.1.0 the site is going to need a fair amount of HP to power it's action proof architecture writing on chain.
Currently I have 500 HP of my own delegated to the site, however I suspect this won't even cover the by the minute audit updates the site broadcasts. Working to scale back the bytes being written by the site in these audit updates in order to save on cost but at the same time trying to provide enough verifiable info to make the site audit worth even writing to chain..
...or put them in precarious situations with local law or govt.. Not about that type of shit.
While initially I struggled to figure out a way to incentivize lending HP to the @Hive.Loans account after some thought it was decided that the allowance of curation using the delegated stake up to 20% the daily voting power, rationed by percentage of delegated HP provided would be used as an incentive, effectively allowing a user to delegate the site HP but still retain access to it.. Or that a system be set in place to have @Hive.Loans delegated upvote / downvote power be put onto a well performing curation trail and then distribute the majority of curation profits earned by this course of action directly into delegators Hive.Loans accounts on a daily / weekly / monthly schedule.
As a side note: Please hold off on delegating until I get the system in place to handle this and you're able to make an account on the site. Currently delegations aren't counting towards anything.. That system still needs to be properly put in place and the benefits of providing HP done up.
A combo of the above methods will likely end up fielded and the delegation to site rewards is something that I've yet to completely hack together fully.. So if you have any ideas on this please share them in the comments section below. Feedback is highly appreciated, even if critical.
The database structure of the demo site needs updated but I'm not keen on pushing the required updates to the demo / placeholder site quite yet, as a few features still need more development side testing before I push them live, so people don't end up bricking their accounts or what have you. Given the untested nature of this upcoming site testing and the fact it may in fact be dangerous to use your normal account on the site.. It's advised you make a dummy test account to do future beta testing on the Hive.Loans platform to avoid irrecoverable account mishaps.
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