Questions and Answers 2023-03 #4
Comments
|
On January 1st 2023 HONEST brand of oracle fed smart tokens launched 35 additional market pegged assets (MPA) on Bitshares protocol; bringing the total MPA's offered by HONEST to 46. As a novel innovation in the industr, some of these new MPAs are "short tokens" that is they are backed by BTS core token but fed 1/price of a traditional smart coin. So it is profitable for the borrower to increase the market cap of the smart token when the core BTS token is BEARISH. The full list of MPA's offered by HONEST are now: Additionally, HONEST launched 180 X*Y=K liquidity pools to create automated market making arbitrage triangles between all of their smartcoins and other major tokens offered by competitors on the Bitshares DEX. These new pools can be seen here: https://blocksights.info/#/pools?search=honest staking in these pools has been growing since New Years, toggle the "Total Value Locked" column to view The price feeds for all these tokens are open source at: https://github.com/litepresence/Honest-MPA-Price-Feeds
|
|
February 1, 2023 www.bitshares.network was launched. You can navigate from there to "POOLS" to see another novel innovation of Bitshares in 2023; a liquidity pool mapping utility, which allows users to view all liquidity pools on the chain in as a network map and interact with the map in an intuitive manner to see how different tokens on the dex are connected via automated market making X*Y=K pools
|
|
March 1, 2023 A Novel approach to rendering the decentralized exchange user interface was launched. It is still in developer alpha stage fo development. This new user interface utilizes server side rendering and elastic search to provide a seamless user experience between trading on liquidity pools or orderbooks. Learn more here: https://github.com/squidKid-deluxe/bitshares-dex-ux
|
|
March 15th 2023 Sion Apps LLC disclosed a new web browser to the bitshares community: The group aims to monetize advertisements in a novel secure and fast web browser by encouraging users to engage with advertisers by rewarding them with Additionally, this new protocol is backed with several approved https://patents.justia.com/assignee/sion-apps-llc
|
|
Glad to announce the new version of Beet #BitShares community product; Beet is a stand-alone key/identity-manager and signing app for BitShares #Blockchain: https://github.com/bitshares/beet/releases/tag/v0.16.0
|
Thanks; this is a user developed use case utilizing BitShares features and functions; definitely it counts over Blockchain great utilization, but unrelated to Blockchain technical development and it's roadmap. |
|
Thanks; the screenshots have been included within the answer. |
|
XBTS Gateway continues to innovate on bitshares blockchain. Learn more: https://coinmarketcap.com/community/articles/63b4a16b122d9f2790aadabc/
|
Thanks; will add this to the roadmap, but I don't see where it fits within their questions
Thanks; this project has to be added to awesome-bitshares list and address as use case in our main website. |
|
Bit20 Group continues to innovate on Bitshares: https://btwty.com/
|
thanks; a great development for BitShares to add more UX support to our open source interfaces repos, will include in roadmap. |
I don't think it's appropriate to put the screenshots in the answer since
So I removed the screenshots from OP. |
|
Added Beet v0.16.0 release, and updated some wording. |
I agree with your reasoning; putting screenshots is out of notion. |
|
GM 😚☀️ |
|
OK, with Binance now fully delisting BTS on the 7th March 2024, it's time to shut the door on Binance by closing this issue. |
|
Now that Binance has taken ~400m BTS from their customers for their own use, resulting in damage to the dpos mechanism, it seems time to close this issue. Binance is/was a bad actor & we would've been better off never being listed on their CEX. |
Background: These questions were asked by Binance about BitShares (for due diligence) and were directed to BitShares GitHub Page Development Team and BitShares Community. Binance said "We basically do health check on our projects quarterly not on yearly basis".
1. Please provide the description and the highlights of the products offered.
Answer:
BitShares Blockchain is a decentralized “Blockchain as Organization” (BaO); an industrial-grade decentralized Web 3.0 open source platform built to run high-performance financial technology means and smart contracts. It represents the first decentralized autonomous decentralized community that enables its core token holders to decide its future direction along with financial technology products in a decentralized manner. BitShares core asset BTS is the core token utility which is used as fees to submit transactions at BitShares Blockchain; it is also used for BitShares Blockchain development purposes; while BTS asset holders are in power to manage and develop BitShares Blockchain and influence its future using several decentralized Blockchain integrated built-in decentralized voting functions in order to issue utility to developers for their submitted and approved worker proposals from utility fees pool, also to assign committee members for maintaining Blockchain dynamic parameters and assign witness nodes that will validate transactions.
As an infrastructure; BitShares Blockchain is a platform built using an open source code, running by elected nodes (witnesses) from all over the world, it is similar to Bitcoin and Ethereum as an infrastructure, BitShares is not a company nor a trademark or a brand, BitShares Blockchain doesn't have a legal responsibilities as a platform nor as code; users of BitShares Blockchain might have responsibilities or legal obligations for using it toward their legal jurisdiction depending on their own usage and the means behind it. legal entities cannot claim legal responsibilities of an open source code nor a decentralized Blockchain platform, they can operate client interfaces that is interfacing with the Blockchain and can bind to a legal partnerships for the sake of validating Blockchain certain data or can provide services on top of Blockchain platform through their own client interfaces which is interfacing with Blockchain using their own channels, internet domains, witness nodes or API nodes.
Products:
2. Please provide the user/usage stats of the project and any other adoption metrics (DAU/MAU, active addresses, TVL, transactions numbers/volume, dApps, validators, etc.). Please include the source of stats provided.
Answer:
Statistics:
Live API Sources:
3. Please list out the achieved milestones in the last 12-months with the respective timeline and its sources.
Answer:
4. Please provide the most updated roadmap for your project. If this differs from the original roadmap, please highlight the differences and explain these differences.
Answer:
General Info About Roadmap: https://github.com/bitshares/roadmap
Year 2023 Roadmap Development Scope:
BitShares Core:
BitShares UI:
BitShares Beet:
Other subprojects:
5. Who do you consider your competitors and why do you think you are better than them? Please provide detailed competitor analysis.
Answer:
BitShares Known Technology Competitors who are having similar use cases:
We don't need to be better than our competitors in every way. We have our own advantages, such as native smart contracts, fast transaction and block confirmation, named accounts, on-chain referral and fee-sharing program, on-chain order book and on-chain order matching, low operating costs, open source, open community, etc.
6. Do you have any partnerships in place or under discussion? Please elaborate on the scope of the partnerships.
Answer:
Not Applicable for us to answer as GitHub development team; business partnerships are between Blockchain users to users, and it is their business.
7. What are the current use cases of your token? What are the planned future use cases? Please list current and planned use cases separately.
Answer:
Utility Usages:
Note: There are no future plans addressed by Blockchain users in worker system to develop any future different usage at the moment.
8. What do you think will drive future demand for your token?
Answer:
Utilizing the features by corporate users:
9. What is the business model of the project? What are the current and planned revenue streams?
Answer:
The project is being developed through agile contributions and operating as non-profit and open source; it has no business planning hence no revenue streams; features and functions of Blockchain Financial Technology are serving Blockchain users means and businesses.
10. Is the project currently profitable, breaking even, or operating at a loss? How is the project financially sustained? How long is the financial runway without additional funding? Please include the breakdown of the calculation.
Answer:
Not Applicable as BitShares project development is based on individuals contribution and operating as non-profit.
11. What is your treasury management plan? Please provide the amount you currently hold in your treasury (breakdown by fiat, or no. tokens held, etc).
Answer:
Not Applicable as BitShares project development is based on individuals contribution and operating as non-profit.
12. Please provide an 18-month cash flow forecast including FTE plans and historicals.
Answer:
Not Applicable as BitShares project development is based on individuals contribution and operating as non-profit.
13. Can you give a breakdown of the total number of your employees (including Management, Developers, Marketing, etc.)? Please state the number of team members that are working full-time and their respective positions.
Answer:
Agile development supervised by 14 members over BitShares GitHub Project Page: https://github.com/orgs/bitshares/people
14. What percentage of team/founders tokens have been sold?
Answer:
As per our information as development team around BitShares GitHub Page, BTS Tokens was never sold by project founders, it was a fork from another Blockchain so called PTS which was GPU mining based project.
15. Where are most of your communities located (regions or countries) and which social media platforms do you use to engage these communities?
Answer:
Development team around BitShares GitHub Page are worldwide, we do not ask for personal information of GitHub development team. Social Media Links of development team around BitShares GitHub Page and Community can be found here: https://github.com/bitshares/awesome-bitshares and they are managed by their respective owners.
16. Do your project’s tokens qualify as a security under US law (both federal and state)?
Answer:
We don't think so; BTS the utility token of BitShares Blockchain is used as utility for Blockchain operations fees and as power to participate in assigning active committee Blockchain users, assigning active witness nodes of Blockchain users and vote to issue utility token for development workers which are submitted by Blockchain users.
17. Has your project raised funds from US investors?
Answer:
Not Applicable as BitShares project development is based on individuals contribution and operating as non-profit.
18. Has your project made any registrations with the SEC in any capacity? If yes, please notify and furnish us with the relevant information.
Answer:
Not Applicable as BitShares project development is based on individuals contribution and operating as non-profit.
19. Has your project been under investigation or the subject of a probe by any US regulatory bodies or US Law Enforcement agencies? If yes, please notify and furnish us with the relevant information.
Answer:
As a development team around BitShares GitHub Page; we are not aware of any.
20. Do you have any other past or currently outstanding legal cases relating to you, the company, or anyone else related to the company?
Answer:
As a development team around BitShares GitHub Page; we are not a company in the legal sense, and we are not aware of any legal cases against any of our GitHub development team members.
Drafted by: @ioBanker
Reviewd by: @abitmore
The text was updated successfully, but these errors were encountered: