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[ANN] Allvor: cryptocurrency for e-commerce powered by the XRP Ledger


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6 hours ago, Malloy said:

Could you tell us more about the team? Very hard to find info on you. Thanks and good luck with your project.

Of course, this is really missing.
We are updating Linkedin profiles and we will post the links on the portal soon.
Thank you!

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Thanks for flagging me down!  Here's what I support without question:  ICOs done on the XRPL.  As long as they are legit ICOs, and conform to regulations, they should be done on the XRPL. 

I'm just excited to see a project use the tutorial I made before. I think that this project could be the start of a lot more companies using the XRP ledger specifically for tokens. How smooth tha

I just want to inform you guys: I have succesfully managed to claim my ALV with TEV's method mentioned above for my Nano Ledger S account. Before, I had to extract before my private key for my Ripple

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7 hours ago, princesultan said:

no offence, but i would never extend a trust line to a 3rd party i don't know.

We respect your position, of course.
But note that the trust line is in practice an authorization for you to receive payments for an issue, in a certain currency and at the specified limit. Just that, it does not affect your account or the other deposits.

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@Allvor Sooo..  you have just created a token based on the XRP blockchain and give it out for free only to XRP holders? And we are getting an amount of ALV based on how much XRP we were holding in our ripple wallet at March 27th? This means free tokens that will go live as a currency in the future? Seems a bit unreal tbh.

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21 minutes ago, JayloT said:

you have just created a token based on the XRP blockchain and give it out for free only to XRP holders?

Yes, limited to 5% of the total.

28 minutes ago, JayloT said:

And we are getting an amount of ALV based on how much XRP we were holding in our ripple wallet at March 27th?

Yes, 130% of the amount of XRP plus 5,000, limited to 1 million ALV.
 

29 minutes ago, JayloT said:

This means free tokens that will go live as a currency in the future?

5% free distribution to create an initial market and benefit the current community of hodlers seemed a good idea!

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On 01/04/2018 at 7:09 PM, Nickoftime said:

If we had our xrp on the exchange at this snapshot is there a way for us to claim these tokens?

It seems unlikely that you'd get very many, given that their documentation says there's a limit of 1 million ALV per ripple address. Your XRP on an exchange are presumably pooled with the exchange's other customers,  which will have a dilution effect.

Say the exchange has custody of 10 million XRPs owned by its customers, and 1000 of those XRPs are yours. If the exchange chooses to claim ALV on behalf of its customers, it will get 1 million ALV (the cap in the documentation), and your fraction of them would be 1000 / 10000000 = 1/10000. Multiplying 1 million ALV by 1/10000 leaves you with just 100 ALV, which is rather less than you'd get if your 1000 XRP were at an address controlled by you.

If your XRPs are an a GateHub trading address, then they're at an address owned by you (albeit with the secret key known to a 3rd party), so you would be able to claim at the documented rate. I don't know about GateHub hosted addresses (the documentation doesn't say), but my initial guess is that the above dilution effect would apply, as for any other account where you've surrended custody.

Regardless of the arithmetic, if your XRPs are at an exchange, it means that you've lent them to the exchange. Unless you imposed conditions to the contrary (when you extended credit to the exchange), the exchange doesn't owe you any ALVs. It's like you've lent me a flock of sheep: if we don't agree in advance who own any lambs that are born during the loan, then all lambs are mine.

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Hello Allvor,

thank you for your kind offering!

Can you explain in detail how to set the trustline with Nano Ledger S?

It is not possible to extract a secret key from Nano Ledger as far as I know with the Mnemonic Code Converter like https://iancoleman.io/bip39/, only private keys for ripple addresses.

Unfortunately Ripple Wallets like Rippex Wallet and Gatehub all want a Ripple secret key and not a regular private key to open the wallet.

Maybe you can include another optional distribution method, like that we can send you for example a infinitesimal (very small) ammount of XRP from our accounts to your address to verify our account and you send an amount of ALV to our accounts appropriate to the claimable amount on March 28th for that account?

Thank you for your help,

ZE

 

 

 

 

Edited by Zockempire
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56 minutes ago, Zockempire said:

Hello Allvor,

thank you for your kind offering!

Can you explain in detail how to set the trustline with Nano Ledger S?

It is not possible to extract a secret key from Nano Ledger as far as I know with the Mnemonic Code Converter like https://iancoleman.io/bip39/, only private keys for ripple addresses.

Unfortunately Ripple Wallets like Rippex Wallet and Gatehub all want a Ripple secret key and not a regular private key to open the wallet.

Thank you for your help,

ZE

 

 

 

 

I'm in the same position you are in. I have tried opening my Ripple account in the Rippex Desktop Wallet, but I only have the private key for my XRP wallet address, not the secret key. I have a Ledger Nano S and would like to claim my 7000+ free Allvor cryptocurrency coins. @Allvor please provide full instructions on how we Ledger Nano S owners could claim our free Allvor cryptocurrency coins using the Rippex Desktop Wallet or some other safe method.

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While it all sounds very intriguing, I believe that most of us hodlers are not very keen on having to open (and much less understand what one is) a trustline... 

so as another user above noted, perhaps exploring a different method of distribution (while using the same guidelines for ALV amount given out)...

Is that not a possibility? Or are you dead set on this trust line having to be opened up?

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2 minutes ago, MentalPatience said:

While it all sounds very intriguing, I believe that most of us hodlers are not very keen on having to open (and much less understand what one is) a trustline... 

so as another user above noted, perhaps exploring a different method of distribution (while using the same guidelines for ALV amount given out)...

Is that not a possibility? Or are you dead set on this trust line having to be opened up?

I believe the impediment is that Rippled software simply does not allow anyone to send their IOUs to an XRPL account without the receiver creating a trust line to the issuing address. It's a baked-in restriction presumably designed to stop anyone sending worthless IOUs to all and sundry.

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1 hour ago, PunishmentOfLuxury said:

I believe the impediment is that Rippled software simply does not allow anyone to send their IOUs to an XRPL account without the receiver creating a trust line to the issuing address. It's a baked-in restriction presumably designed to stop anyone sending worthless IOUs to all and sundry.

Seems reasonable.

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On 3/30/2018 at 10:04 AM, Hodor said:

Thanks for flagging me down! 

Here's what I support without question:  ICOs done on the XRPL. 

As long as they are legit ICOs, and conform to regulations, they should be done on the XRPL.  It's faster than Ethereum, and more scalable. 

It will also bring additional liquidity.

Some might see this as a possible competitor to the XRP as a native asset, but I don't see it that way.  Think of EOS for Ethereum.  Or any ERC-20 token, for that matter.  They don't dilute Ethereum - they bring great amounts of liquidity.  Probably the sole driver behind Ethereum's demand levels is it's hosting of ICOs.  Let's support these on the XRP Ledger (as long as they're legit). 

On to the next question:  What about this particular ICO?  I sped-read through their whitepaper, and it looks just as legit as the other various whitepapers I've read.  I'd have to learn a bit more about it before making any kind of informed recommendation one way or the other.  Kudos to the team for having the courage to post here first, regardless of the outcome. 

I am not supportive of this. This is an exact instance of creating value from nothing/thin air. It has 0 use as of now yet it trades for 0.004 at the time of this post. This kind of stuff is what created the whole bubble mess in crypto. Copycats and people who want to make a quick buck.

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7 hours ago, Allvor said:

We respect your position, of course.
But note that the trust line is in practice an authorization for you to receive payments for an issue, in a certain currency and at the specified limit. Just that, it does not affect your account or the other deposits.

all these people worried about trust lines :D funny when XRP holders don't understand the XRP ledger.

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