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aavkk

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  1. Like
    aavkk got a reaction from DannyRipple in First live On Demand Liquidity offering in Japan   
    Great to see this finally launch live.  It will be interesting to follow the volumes and growth of ODL.  
  2. Like
    aavkk reacted to HAL1000 in Nexus from the BIS: a blueprint for instant cross-border payments = XRP MOON   
    Just to clarify - XRP / XLM / XDC etc are all ISO-20022 compliant cryptos, MOON in my head is a relative concept, I don't know when exactly - but it's no longer IF, it's just WHEN. So if you're looking at this post and thinking I mean today, this week etc, nope, I just meant, when THEY choose to switch it on.
    When will that be, let's just say, the BIS Nexus announcement definitely takes us all a lot closer to the MOON SHOT. This will be one small step for man, one giant leap for XRP hodlers
    Keep this in mind:-
    ISO20022 is supposed to go live in November 2021 - source:-
    https://www.infostien.com/post/quant-partnerships-part-1
    Also see:- https://www.swift.com/standards/iso-20022/iso-20022-programme/timeline
    Customer adoption
    Familiarisation, training, design and implementation planning are already underway at some institutions. We are expecting the majority to begin the training, education, design and implementation planning of their ISO 20022 programmes from late Q1 of 2021, and will provide support for testing, including “sparring partner” facilitation, from Q3 of 2021.
  3. Haha
    aavkk reacted to HAL1000 in Nexus from the BIS: a blueprint for instant cross-border payments = XRP MOON   
    Hey guys, how about a like or two, this is work.
  4. Thanks
    aavkk reacted to brianwalden in The Terra Network   
    The Mirror Protocol issues synthetic stocks and other cryptos. Their mAssets are pegged to the price of the real world assets they represent, 1 mAAPL represents one share of Apple stock, etc., but are backed by various assets on the Terra network. Right now there are about a dozen stocks and a handful of other cryptos you can buy. One important thing to remember is that because these are synthetic stocks, you don't get any dividends. 
    The simplest way to use Mirror is to just buy and sell stocks. You can also borrow stocks - this is how they issue new mAssets. You put up UST, aUST, LUNA, ANC, MIR (Mirror's governance token), or any other mAsset as collateral and then borrow whatever mAsset you want against it. You pay no interest to borrow, but you have to maintain your LTV ratio or you'll get liquidated. If you've been following Flare, this is the same way that F-assets are minted. I'm not a stock guy, but I think you pay a pretty stiff interest rate to short a stock from a broker. If you want to go short, this seems like a great way to do it.
    The other reason you might want to borrow a stock is to farm it. A big part of Mirror is their long farms where you farm an mAsset against UST. The long farms are like any other liquidity pool, you put up equal dollar amounts of the mAsset and UST so that people can use the pool to swap assets. Pool rewards are paid in MIR, which you have to claim from time to time. Just like ANC, you can stake MIR, put it into it's own pool with UST, use it to vote, or just sell it when you get it. If you borrow the mAsset that you put into the pool, then you can basically just farm the pool yield - you don't care whether it goes up or down (this is called being delta neutral) because if you borrowed 5 shares you have to return 5 shares regardless of whether those shares are worth $10 or $1 when you return them. Just remember, that in long pools you are still exposed to impermanent loss and the amount of mAssets and dollars in the pool is constantly changing so you're not going to get the same amount of each out as you put in. For this reason I personally wouldn't farm crypto mAssets against the dollar - they're just too volatile. Stocks tend to be less volatile.
    But wait, there's more. Instead of just borrowing a stock, you can short farm it. Short farming actually works the same as borrowing, you don't put in half of each asset like you do with long farming. Instead you just put in your collateral and then borrow against it like you would for a regular borrow. The one difference is that as soon as you borrow it, the stock gets sold (shorted) and you get the UST that it's sold for. One catch is, the UST is locked up for 15 days (or until you close out your position by repaying all the borrowed stock). So if you're looking to short and buy something else that you're long on, this probably won't work for you. But if you're just looking to do a delta neutral farming strategy, this may work. It just has a higher upfront buy-in cost because it locks up a chunk of your funds for 15 days, but you earn both short and long farming rewards on your delta neutral strategy. To do this you go into the short pool, then buy the same amount of stock that you've borrowed and use it with the corresponding value of UST to go into the long pool for the same stock. The short pool yield rate is only paid on the amount of stock you've borrowed, not your collateral. The long pool yield rate is paid on the full amount (both mAsset and UST) that you put into the pool. Oh, yet another thing, you can only manage your short pool position while the stock markets are open (longs are anytime). So be careful if you think you may need to liquidate your position quickly. One advantage of the short pool is that, unlike the long pool, there's no impermanent loss.
    I've decided to go all out. For example if I want to invest 4000 UST (make sure you have more than 4000 because there are fees and premiums), I'll first convert half of that to aUST because I can use that as collateral in the short pool and earn interest on it at the same time (but long pools are UST only). So I'll put my $2000 worth of aUST in the short pool to borrow $1000 worth of say mAAPL. Then I'll use $1000-ish UST to buy the same amount of mAAPL that I just borrowed. I then put that in the long pool with a matching dollar amount of UST. I've found it's helpful to do this on a few stocks rather than just one because the yield rates and impermanent loss accrued in the long farm constantly change - I'd rather spread that out than try to pick a winner. As with Anchor, I just sell my MIR rewards when it's convenient to do so. I've found that if I try to hop around and switch from farm to farm, fees eat me up. Right now I'm trying to just pick my positions and stay there (maybe rebalance as needed) and save up until I have enough to do the same thing for another stock.
    This is very complicated with a lot of moving parts. If you want to try it, I highly suggest you start small until you're sure you've got all the steps down and know what you're doing. Here's a video that explains it:
     
  5. Thanks
    aavkk reacted to thinlyspread in eCash Founder David Chaum Makes Bold Promises with Elixxir Blockchain   
    https://xx.network/development
    Mainnet timeline published:

    #xxnetwork #xxcoin #chaum #larsen #xxmessenger #elixxir #praxxis #cmix 
  6. Thanks
    aavkk reacted to JASCoder in Charting the course of XRP   
    Regarding this morning's XRP spike... 
    Maybe not all of you monitor the concurrent price action, but XRP/BNB/ETH/BNB etc all typically move together, as if one whale has configured their bot army to trade in synchronistic harmony. 
    But not for this morning's spike. You can best see this by viewing the trade action of the XRP_BTC chart - as the arbitrage bots quickly effect price changes to the pair's order books whenever there are tokens being heavily traded out of sync with the overall crypto markets.
    Here is the event from this morning as traded at Binance (dot com) :
    ( context: 30m periods ) 

  7. Haha
    aavkk reacted to Danny in First live On Demand Liquidity offering in Japan   
    I can hear Tone say: "But.. but.. nobody's using any Ripples." 
  8. Like
    aavkk reacted to grunish in First live On Demand Liquidity offering in Japan   
    A new corridor in Japan is great news on itself!
    But also it's a message to SEC: we (the rest of the world) go on with this!!
  9. Like
    aavkk reacted to Panopticon in First live On Demand Liquidity offering in Japan   
    https://ripple.com/insights/first-live-on-demand-liquidity-offering-in-japan/
  10. Like
    aavkk reacted to RipMcGillicuddy in Polysign has Awaken   
    Arthur gets a lot of mention around Polysign (as he should of course). But I feel like a reveal may happen relatively soon. I'm just not sure you can keep putting someone's name out there like this without a plan to reveal. It's weird and I love it. 
     
  11. Like
    aavkk reacted to JASCoder in Spark ($FLR) US Tax Treatment   
    TL;DR - All 100% of the Spark airdrop to US taxpayers will become a taxable event ONLY when it's traded or spent. The taxable liability will be assessed at the current market value (at the time of the trade or spending event).
    Thanks for sharing that, I'll be referencing it to my tax accountant ( someday soon, hopefully ).
  12. Thanks
    aavkk reacted to solid102 in Stellar Foundation Eyes Potential Acquisition of MoneyGram: Report   
    as promised below is where DS highlights that Jed did not give Arthur 2% of the total XLM as per the agreement:
     
     
  13. Like
    aavkk reacted to jargoman in MoneyGram and Stellar   
    The real question is, who has the money and motive to pay Jay Claytn to make a fool of himself
     
  14. Like
    aavkk reacted to Ripley in Charting the course of XRP   
    What’s that subreddit ? r/LeopardAteMyFace ? 😆😆 Putz.
    I don’t like being petty, but boy does it feel good once in a while.
    I sincerely hope they get to a positive outcome, because I think this enforcement action is misguided. But damn, the avalanche of nonstop FUD against XRPL and Ripple from the very beginning…
    Background: Pomp, via Morgan Creek, is an investor. 


  15. Like
    aavkk reacted to Yorkies in Will exchanges be the whales of Songbird?   
    Fingers crossed 

  16. Like
    aavkk reacted to thinlyspread in Stellar Foundation Eyes Potential Acquisition of MoneyGram: Report   
    It's a good point. I thought at the time, when Stellar Foundation burnt their tokens, that it was... strange. I didn't buy that it was for tokenomics/community reasons. I would tend to agree with you, given the extremely suspicious behaviour by SEC officials, Jed, et al, that there was some back and forth, or coordination in some way. 
    Probably given the legal and regulatory risks, maybe even threats, from the SEC, Stellar capitulated (and perhaps Jed was even providing useful information on Ripple etc) and thus burned their tokens to remove that risk. 
  17. Like
    aavkk reacted to Julian_Williams in Ripple accidentally makes a good point in SEC defense: why isn’t ETH an unregistered security too?   
    It is a well researched and written article, but I disagree with their conclusion:
    The Howey Test said that the oranges were not the securities, the contracts were.  Hinman simply stated that the the "ETH Oranges" sold in the initial ICO were under securities contracts, the "ETH oranges" sold in the more mature decentralised secondary market were not. Hinman was stating the obvious. This was followed by Jay Clayton parading Hinman's unofficial speech on the SEC website and to members of Congress as SEC clarity and "transparency", whilst at the same time Clayton refused to give a transparent answer about whether "XRP oranges" sold in the same way on secondary markets were "securities".  
    Obviously Hinman was right, ETH oranges sold on secondary markets in maturing decentralised ecosystems are not common enterprise with expectation of profits dependent on a centralised seller (in the secondary market the resellers are using the utility of the currency and have no connection, knowledge or interest of what the centralised seller is promising in teh future).  XRP oranges sold in secondary markets in the mature XRP ecosystem that has many use cases outside the influence of Ripple are not securities, and Deaton has compiled a long list of such markets.  When forced the SEC lawyers have admitted to the judge that these types of (Deaton) sales on the secondary market are not securities (something to do with clause 5), but afterwards reverted to telling the judge all XRP sales, including those in secondary markets "can" be labelled "securities".
    I guess a pedantic view might be that some of the ETH/XRP oranges sold in secondary markets are securities.  Gensler has now weighed in telling us that any tokenised derivative that includes the sale of a real security (bonds?) is itself a security.  So how do we distinguish when a token sold in secondary market is a security and when it is not a security?  Do we call them all securities or all non securities?  Hinman pretty much said all ETH oranges were non securities, and SEC then told the judge all XRP oranges are securities (except they are not always, but we will not give any guidance to the markets on this issue, like we did with ETH oranges)
    SEC have muddied the waters whilst regulatory authorities in other countries have started to provide clarity by introducing sand boxes and declaring XRP ODL and other specific tokenised transactions non securities.  SEC, instead of providing guidance and clarity have chosen dubious winners without guidance or explanation.  
    ...and all this mess is mixed up with obvious corruption inside SEC; IE Hinman's interim faux-pension salary of 1.6 million a year for the time he dropped his job at Simpson Thatcher to work at SEC.
    Gensler is beginning to show some leadership, but there is no way he can provide clarity.  Without clarity "fair notice" is, and will remain" a very good defence.  Ripple will now win this case on the fair notice defence, and that is it for the whole industry until after SEC starts to draw clear lines.   SEC will be toothless until after they have drawn clear lines, and that will probably requite new suites of regulatory laws from congress similar to those enacted in Japan, UK and Singapore.  
     
  18. Like
    aavkk reacted to RikkiTikki_is_Back in Stellar Foundation Eyes Potential Acquisition of MoneyGram: Report   
    Personally I believe Jed was advised by Government resources to make Stellar a non profit as this would help him skate around a lot of regulation scrutiny for profits have to face. I believe he's been working hand and hand with the Government since Mt. Gox.  Unless that Leprechaun hopped off that box of Lucky Charms and granted him the ability to be at the forefront of some prominent legal skirmishes in this space but always able to get out just in time, I can't buy it being just a coincidence that the government tends to go around or not even pursue talking to this man.  He is a common denominator here!! He is selling XRP when even the exchanges have backed out of doing it for fear of ramifications!!!  This man has some type of immunity going on.
  19. Thanks
    aavkk reacted to Julian_Williams in SEC Response to Defendants’ Letters re Peirce and Roisman   
    fascinating watch 
     
  20. Like
    aavkk reacted to Ripley in Charting the course of XRP   
    I don't mean for you to take this the wrong way and there is nothing wrong in thinking like this - but you are looking at Flare from a trader's perspective. And with that lens, you have probably made plans around availability of FLR at a certain point in time.
    No one owes anything to anyone here. None of us are investors and those who bought IOUs were fully been made aware that those IOUs are in no way representative of Flare.
    Flare releases when it releases. ETH2 taking *forever* is not an indictment of Ethereum Foundation. Things always get more complicated than anticipated. A limited attack in Iraq took two decades to get out of. 
    There is nothing wrong with providing guidance on timelines and nothing wrong with missing them by a bit. Especially in an organization/network that doesn't even exist yet. 
    If anyone has a right to complain or judge, it would be the actual investors of Flare, who would be privy to internal workings of the org, if they have invested with certain timelines in mind.
    It is not appropriate to attribute malice, IMO. And who are we to say whether 2+ years of development is "enough". And who are we to say whether their decision to use a canary network is useless just because there are several that were successful without ? That's like saying Apple clearly didn't need to take a risk with a touch interface when there were perfectly successful and highly profitable smartphone companies without that. I don't see how we are in a position to judge how someone else builds their project, especially one that's going to be made open source anyway.
    It's their network until it is launched. They get to decide when it is ready and how it is ready.
     
  21. Like
    aavkk reacted to Wolfparty in Charting the course of XRP   
    I would rather them have a Canary Network* roll out to gauge real life scenarios rather than just shove out the final product. It gives Flare valuable feedback and it gives the public/developers an opportunity to use the network with reduced risk. As Flare rolls out, Songbird will still continue to work in tandem working as a stepping stone onto the network.
    They are taking the time to get it right and I can appreciate that. I personally don't see it as a cover-up or misdirect. It seems more logical than anything else. Measure twice, cut once.
     
  22. Thanks
    aavkk reacted to Seoulite in Charting the course of XRP   
    Hi all, you might have heard of another development in the Flare saga. As usual we are discussing it in the Flare club but I'll give a quick rundown here too.
    -- In the next 6 weeks Flare will launch a 'canary network' called Songbird (explained below). Apparently this is similar to the relationship between DOT and Kusama. The Flare mainnet is expected to launch at the end of September
    -- After the Flare mainnet launch, Songbird will continue to exist as a kind of Flare Jr network, a testbed for new proposals and dApps, etc
    -- Songbird will have it's own token SGB. So yeah, you are getting another airdrop! If you self-custodied the original Flare claim then it will be easy to claim the SGB. If you claimed through an exchange then you need to start pressuring your exchange to support the airdrop because the exchanges are under no obligation to give you this extra airdrop. Start sending those customer support emails!
    -- So in summary, Songbird network will launch within six weeks with extra airdropped token SGB as a kind of testnet (I think 'canary in the coal mine' is likely the origin of this canary terminology, so you get the picture). Flare mainnet scheduled to launch at the end of September as normal. This Songbird airdrop is in addition to everything else, it is not replacing anything or taking away the value of the original Flare airdrop. 
    Here is a useful infographic from Stedas about it:

     
  23. Like
    aavkk reacted to Julian_Williams in Charting the course of XRP   
    It could go either way
    The SEC case is looking like an endgame, look at Hogan's latest video
    I think the letter was staged by Gensler, as was the Warren letter.  This makes me think Gensler is bringing this case to an end, and he is doing it in a very clever way that releases Ripple, leaves him in a good position to start his agenda for regulation and he will not have to release the internal memos (just my guess)
    Obviously if the case is settled there is a strong possibility of a big XRP candle.  But BTC is looking very weak and on the edge of taking teh market down with it, and the stock market is looking weak too.  Everything, good and bad is happening at once, and it is very hard to predict what is going to happen in coming few days and weeks.
     
  24. Like
    aavkk reacted to FTSO_AU in Newest Flare Blog Post - 'canary' test net within the next 6 weeks, mainnet launch scheduled for end of Sept   
    I don’t know exactly when Songbird will launch.
    It was added to the repo and mentioned to us a little over a week ago.
    I would expect things to progress quite quickly from here. 

  25. Like
    aavkk reacted to FTSO_AU in Newest Flare Blog Post - 'canary' test net within the next 6 weeks, mainnet launch scheduled for end of Sept   
    Absolutely correct. Without Songbird, Flare was due to launch with very few features, this way Is much better … when looking at the big picture.
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