Gridcoin Market Pegged Asset soon to go live on the Bitshares DEX
What is Gridcoin?
If you've never heard of Gridcoin, it's a cryptocurrency that securely rewards BOINC computation (31 supported projects such as attempting to solve Cancer/AIDS/Ebola/Malaria, mapping the milkyway, folding proteins, cracking enigma codes, etc) on top of Proof of Stake. BOINC statistics are gathered directly from the project servers & all nodes agree on a daily superblock containing verified team statistics. More info on Gridcoin.
A Gridcoin MPA is coming to the Bitshares DEX you say?
Indeed, the Gridcoin community has created the "GRIDCOIN" Market Pegged Asset (MPA).
For those not familiar with Market Pegged Assets, no additional Gridcoin have been issued (I've not inflated the gridcoin coin supply).
Once the MPA goes live, we will potentially need to discard unnecessary permissions the creator of the MPA holds & perhaps re-evaluate the "Force settlement offset" and "Max force settle vol" values considering bitCNY has made the change and bitUSD is considering it.
Is the GRIDCOIN MPA live?
Negative, we are awaiting imminent integration into Xeroc's witness price feed script - it will be included in the next release.
Why are we interested in our own market pegged asset?
- We're interested in potentially distributing the GRIDCOIN MPA to participants of the Gridcoin Hangouts and potentially project raining (tipping) the asset onto Gridcoin users (or potentially all BOINC users) for completed BOINC computation in the future.
- We want to take advantage of the multiple benefits of the graphene blockchain and Bitshares Decentralised exchange as well as utilise the multiple upcoming projects such as BlockPay, Moonstone, Openledger and BlockPay's smartcoins wallet.
Have we established a bridge/gateway yet?
Not yet, we are currently investigating integration into CCEDK's Openledger to acquire an OPEN.GRC asset to act as our bridge onto the Bitshares DEX from the Gridcoin blockchain.
We're hopeful that there will be more bridge/gateway option in the future, but in the mean time we are patiently waiting for further news regarding how we can progress towards integration and the Gridcoin foundation proposal appears to be passing.
Conclusion
The Gridcoin community is looking forwards to the activation of the GRIDCOIN MPA & I personally believe the future of Bitshares (and all Bitshares related projects) is very positive.
I will post further updates once the MPA is live, then another once we have established our bridge/gateway onto the DEX.
Best regards,
CM.
The Gridcoin MPA has now gone live on the Bitshares DEX!
https://steemit.com/gridcoin/@cm-steem/announcement-the-gridcoin-market-pegged-asset-has-gone-live-on-the-bitshares-decentralised-exchange
@Xeroc has integrated gridcoin into his python price feed scripts, once we get witnesses on board the GRIDCOIN MPA will go live :D
At the moment is there a 'demand' for this including Gridcoin?
AND if not how do we 'promote' ours?
I like GridCoin a lot. A network that supports Science and Research, you can't go wrong with that! Nice read and thanks for the update, you got my vote!
Nice post.
I guess when we get there we should set the "Force settlement offset" and "Max force settle vol" percentages on par with other platforms ?
Cheers mate, an upvote for you :D
Yeah, I think it'd be wise to follow the percentage changes that other smartcoins are moving towards for increased liquidity.
I'll look into running a liquidity bot for the GRIDCOIN asset too.
I dont undrestand it, but if it expands the scope of Gridcoin then its a good thing
Excelent document!!!! thanks!!!!
Hi @cm-steem
I am helping a friend to set up a Gridcoin pool folding.
Is there any video guide for that?
Thanks :-)
Hi! This post has a Flesch-Kincaid grade level of 10.9 and reading ease of 56%. This puts the writing level on par with Michael Crichton and Mitt Romney.