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« Last post by Rob Andrews on February 22, 2025, 06:29:28 AM »
So Im relatively pleased with the outcome of the in-wallet DOGE exchange. It allows any BBP user to trade in and out of BBP using DOGE, which is listed on every exchange in the world.
The fractional fills feature should be ready any day now. NOTE: The exchange is still not released to mainnet, but is coming soon.
I want to shift to discussing one of our old legacy features called "Portfolio Builder".
The idea behind portfolio builder was to reward core BBP users with additional BBP staking-type rewards in exchange for holding BBP+OtherAltCoin in their core wallet. The reason for this is twofold: One we want more adoption and mainstream use of the wallet, and two- we want our BBP user to gain financially when solid coins from the crypto sector appreciate. (This is similar to investing in a Crypto index, however I want to save the BBP CryptoIndex as a separate feature). This feature is slightly more granular -- take some of the top upcoming stars that have growth potential, like DOGE,XRP,XLM,ETH and when you marry one of those coins with an equal amount of BBP you earn staking rewards. These staking rewards are based in APR%, but that % dynamically increases as the wallet budget increases the DWS rewards %. To have a campaign that brings in 1000 new users for example, we may increase the stake reward 1% per day until it reaches a level where hundreds of new users pour in, then we will stabilize the % reward and scale it back slowly in order to keep the new users with us.
However, there were some pros and cons about hosting this on unchained. 1) It was easy (pro), 2) it was not decentralized. I strongly believe in Your Keys your Money, so I would like to re-write portfolio builder to be a core wallet feature. This will give us even more reason for people to say good things about BBP: They are not just a clonecoin, they are a valuable utility. They have a service that is useful.
So my next step is to integrate the code in the windows wallet that gives us a "Portfolio Builder" module.
In it we have the goal of this side program to first of all be a cryptowallet for XLM,XRP,DOGE,ETH. The key for the wallet will be derived from one of your new wallet keys - so that when you back up your wallet.dat you are still the sole owner of the private key and that will not be compromised or shared outside of your wallet.
This is written in a way so that you click on XRP for example, you will see your Ripple balance and have the ability to send XRP and receive XRP from the UI. The BBP core wallet derives the key by: Generating a new BBP keypair, labeling it "ASSET-KEY-XRP" and then taking the WIF private key, it then derives the XRP private seed, and using that you have a new XRP keypair.
This would be phase 1: Simply provide a UI to send and receive crypto in these alt currencies.
Phase 2: The next step is for us to make a signing format so that portfolio builder will tie together an XRP+BBP balance, and report it to the sidechain. The sidechain would then send stakers a daily PB reward for holding homogenized BBP.
So in plain English to the end user what this means is:
- User deposits $100 of XRP into the BBP core wallet
- User deposits $90 of BBP into the BBP staking address
- PB assesses user A as having the minimum(XRP,BBP) which is $90 in this case homogenized
- PB annual reward currently is 11% (6% higher than the fed-funds risk free rate)
- User A receives a reward denominated in BBP for 11% of $90 annualized divided by 365, as a daily reward (IE $90*.11 = 9.9 / 365 = .02 cents) denominated in BBP.
Of course, this is just an example, users may not come for .02 cents, but due to the structure of our campaigns and foundation gifts, we can increase this PB APR% once per day until users do come (IE if we are getting up into the 35% range, people will most likely come) and then we can scale it back once we have 1000 users etc.
So here is another pro about using BBP PortfolioBuilder, lets say you are a church. We are a good alternative to Coinbase (and centralized exchanges), to store your XRP and BBP in a non-centralized wallet that earns BBP rewards. A church can buy XRP on coinbase or Binance, and withdraw it to BBP to earn the rewards. This way if Coinbase or Binance goes under (like FTX and MtGox did) you still have the cold wallet. Its also a good alternative to keeping it off of your only phone (single point of failure) - IE trust wallet. With TrustWallet you still have to trust the devs who run the API with the private key. With BBP, the key never leaves the device. So its an alternative to the Nano Ledger (hardware wallet), except the pro is you get the BBP interest. Basically the user has to have a whole PC running, and they back up the key to a USB flash drive for example. So it is a viable and useful project for churches, it seems, and for crypto retirement accounts.
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