BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)

*** Binance BBP Smart Chain De-Fi is going live! ***

See more here:

https://forum.biblepay.org/index.php?topic=770.msg10945#msg10945


Feel free to test it guys!


7800 BBP

*** DYNAMIC WHALE STAKING UPDATE ***

** DYNAMIC WHALE STAKING UPDATE **


This is an update on our Legacy DWS system (not our production UTXO staking system):

Due to our 2MM bbp per day limit on legacy DWS payouts there may be a discrepency on what you received in your DWS reward vs. your original promised reward (IE we limited the payout and shorted some people inadvertently because of this cap).

I wrote a new report called the DWS Final Reconciliation Report that will detect any anomalies over the entire span (from block 140,000 to the tip).  What we are going to do is run this on the last day of this wallet version of the prod wallet (IE during the next mandatory upgrade, which will most likely be in June 2021 - that is the date when we retire DWS permanently).  You will automatically receive any reconciliation amount into your CPK on the last day, so have no fear your reward will be issued to the exact amount in June!

This is just a quick update regarding the retirement plan for our old stake reward system - called dynamic whale staking, (that system existed BEFORE UTXO staking).

There are 67 million outstanding BBP owed to recipients in the DWS system in Prod, and these are DUE to be paid between today and our next mandatory upgrade (July 2021).

I'm creating a game plan now that cleanly ends DWS permanently and transitions to pure TrustWallet rewards in our next wallet (which is due out around July 10th 2021).

My goal is to pay out all DWS liabilities in this last week of June 2021.  So remember, if you are owed any DWS payment, you should look here for a report around the last week of June, which is called the "DWS reconciliation report", and this report will automatically pick up any amount you were shorted by calculating the all time DWS payments since inception.

 Note that I am going to pay for any discrepencies between your actual total received amount since inception out of my personal wallet.  (On a side note I had a user ask me if Founder Funds meant that the emissions come from the BiblePay community as inflation.  NO:  We had no premine and no ICO, and I bought all of my BBP on the open market or mined it, and I received no special treatment.  When I say "out of my personal account", that means the funds come from my wallet).

So look back on this thread during the final week of June and we will reconcile DWS.  Then we will plan for our mandatory upgrade in early July.  Then in the new wallet we will no longer have DWS.

As an example, if your CPK staked 4.8 MM and is owed 5MM TOTAL (over all combined activity since inception), and you were only paid 4.8MM as of June 30th, your automatic reward will be 200,000.   This will all be detailed on the report.  Note that if you were OVERPAID, we will pick that up also and you will not be charged (but note that if we detect overpayments they will be taken into consideration on the report and that will affect the GRAND TOTAL for your CPK.)





7800 BBP

*** Binance BBP Smart Chain De-Fi is going live! ***

See more here:

https://forum.biblepay.org/index.php?topic=770.msg10945#msg10945


Feel free to test it guys!


7800 BBP

Wrapped biblepay is live on YieldFields, and I successfully invested a certain amount into the contract:

https://forum.biblepay.org/index.php?topic=770.msg10971#msg10971
Yield Fields:
https://yieldfields.finance/



7800 BBP

Wanted share an interesting article with donor advised funds, crypto, and utilitization of smart contracts. These are all things related to BiblePay. Just imaging a decentralized way to track donations of all types to charities. While the article mentions crypto specifically, I could see stablecoins like USDC involved in giving to specific addresses that are then used for specific purposes. You can see all this on the blockchain and you get more transparency than charities that often don't disclose how their funds were used until an annual report. I also wrote a post in 2019 about the viability of using blockchain for charitable giving: https://whitewalr.us/2019/1682.html


https://www.philanthropy.com/article/crypto-meet-donor-advised-funds-a-new-way-of-giving

https://docdro.id/5DYLtsa
3400 BBP

Wanted share an interesting article with donor advised funds, crypto, and utilitization of smart contracts. These are all things related to BiblePay. Just imaging a decentralized way to track donations of all types to charities. While the article mentions crypto specifically, I could see stablecoins like USDC involved in giving to specific addresses that are then used for specific purposes. You can see all this on the blockchain and you get more transparency than charities that often don't disclose how their funds were used until an annual report. I also wrote a post in 2019 about the viability of using blockchain for charitable giving: https://whitewalr.us/2019/1682.html


https://www.philanthropy.com/article/crypto-meet-donor-advised-funds-a-new-way-of-giving
PDF:https://smallpdf.com/result#r=d8029da8d71e967e283ed5d773d8d8c3&t=share-document

I tried to click into the PDF article and it already expired and the philanthropy site wanted me to sign up in order to read it so I havent done that yet, but then I read your article on white walrus and I like it. 

I agree that the blockchain can work miracles for tracking philanthropic expenses and not only that but should theoretically pick up a lot of donations based on this new economy thats coming (IE more and more people holding serious amounts of crypto in contrast to normal bank accounts).

I thought of addresses for orphans; thats one nice idea.  We also have this idea coming up soon:

Orphan NFTs:
http://foundation.biblepay.org/NFTOrphans
(Please dont sponsor these children yet in prod this page is for our next release).

But yeah, I think one piece that is missing is a standard way of trusting the charity that we integrate with.
People seem to trust cameroon-one, which is great, and so far our technical requirement is the orphanage provides a public URL for the bio, and if we point to an orphan from a sanctuary, the sanctuary public key is on the bio, etc.

This is something that would really be nice to standardize.  I approached Compassion.com with this idea a long time ago (all we want to do is require compassion to place either an organization ID on a bio, or a public key on a bio).  (They did not agree to talk to us about it - yet, after a few attempts).




7800 BBP

EDIT:

It turns out we cannot create a dual reward between wBBP + UTXO Stake.
This is because Dynaxius explained, once the wBBP is wrapped and staked into the liquidity pool (LP), amounts are shifted around and spent regularly to provide liquidity for withdrawals.  So the wBBP will not be able to be staked in a UTXO as it will be changing.

People seem to trust cameroon-one, which is great, and so far our technical requirement is the orphanage provides a public URL for the bio, and if we point to an orphan from a sanctuary, the sanctuary public key is on the bio, etc.

This is something that would really be nice to standardize.  I approached Compassion.com with this idea a long time ago (all we want to do is require compassion to place either an organization ID on a bio, or a public key on a bio).  (They did not agree to talk to us about it - yet, after a few attempts).

I made another link to a different site for the PDF. Feel free to try again if you wish.


I appreciate Cameroon-One willing to take the extra steps to integrate with BiblePay.


Upon sponsorship, couldn't we associated the Compassion GID with a public key? https://www.compassion.com/sponsor_a_child/child-biography.htm?gid=08037005&source= IDK, just thinking out loud. I feel that having Compassion.com add that bit to their web site is a big block and unlikely to happen even if long-term, more orphans can be sponsored.


I've been wanting to dabble in DeFi farming, pools, etc so this wBBP will be a good introduction for me. I don't understand the mechanics or economics myself, but I'm hopeful a form of donor-advised fund that can give regularly is possible through a liquidity pool without lowering the price of BBP.




3400 BBP

I made another link to a different site for the PDF. Feel free to try again if you wish.


I appreciate Cameroon-One willing to take the extra steps to integrate with BiblePay.


Upon sponsorship, couldn't we associated the Compassion GID with a public key? https://www.compassion.com/sponsor_a_child/child-biography.htm?gid=08037005&source= IDK, just thinking out loud. I feel that having Compassion.com add that bit to their web site is a big block and unlikely to happen even if long-term, more orphans can be sponsored.


I've been wanting to dabble in DeFi farming, pools, etc so this wBBP will be a good introduction for me. I don't understand the mechanics or economics myself, but I'm hopeful a form of donor-advised fund that can give regularly is possible through a liquidity pool without lowering the price of BBP.




3400 BBP

I will click the link in a few minutes thank you!  EDIT: It gave me the same error, if it is good maybe you can pull it in to white walrus etc.  On a side note Im working on a public file uploader for our future social media site but it only allows videos currently (no pdfs yet):  https://unchained.biblepay.org/UnchainedUpload

So on compassion, we actually did use their GID for integration (because thats all we could get ahold of), but it falls short for security.  Basically the link is good to prove that we 'discovered' the child, most likely because we sponsored the child.  So another words it gives investors 'a low level of peace and mind' that BiblePay is indeed sponsoring that orphan for the amount we spend.  But, it doesn't account for variables like 'in good standing, balance due, no longer sponsoring, found by link-harvesting' etc.  (For example if you went link harvesting you can find more compassion children and just use their GIDs as 'sponsored' and that would lower our integrity to zero etc).  So what we need is the organization to agree to having at least one field on their publically displayed bio (hosted by their web site) for example, Organization ID: BiblePay.  The deal is if that field is present it means this child is *currently* sponsored by biblepay as an org. 
Thats the basic level requirement that I believe we can ask for (for a full trustworthy integration).  An even higher level which I would ultimately like to get to is the public key of the orphan on the bio (this would be good for sancs) etc.

On Defi, the main key to understanding it is that the number of "Field" tokens is dramatically inflating which provides the 580% ROI they posted.  The 'win-game' in defi is apparently the idea that a very low priced asset (like field for .014 cents) will attract a lot of attention, and rise in value Faster than the inflation rate.  So in best case scenario in a year you would have a token that went from .014 to .10 cents all the while providing 580% ROI to the user.  However in very bad situation, you have a token that was diluted from .014 to .0014 in one year causing the gains you *thought* you would make in the pool (580%) become null or negative even, so both things are possible. 
One nice idea for a new defi idea is if we had a solidity-defi-lp-pool-contract (on yieldfields LP section) that allocated 10% to 'orphan charity'.  Im sure some solidity dev can make us a contract for that in the future!





7800 BBP

EDIT:

It turns out we cannot create a dual reward between wBBP + UTXO Stake.
This is because Dynaxius explained, once the wBBP is wrapped and staked into the liquidity pool (LP), amounts are shifted around and spent regularly to provide liquidity for withdrawals.  So the wBBP will not be able to be staked in a UTXO as it will be changing.

Is there a way to borrow BBP from the pool at an interest rate lower than what the UTXO mining would pay out? If this was around when PoDC requirement was around, people that didn't have enough BBP for PoDC requirement could have borrowed then potentially earn more than on the difference.
3400 BBP

Is there a way to borrow BBP from the pool at an interest rate lower than what the UTXO mining would pay out? If this was around when PoDC requirement was around, people that didn't have enough BBP for PoDC requirement could have borrowed then potentially earn more than on the difference.

When you say borrow from the pool, which pool do you mean, the YieldField defi LP pool, or from foundation.biblepay.org, or something else?

7800 BBP

Hmm, definitely like this idea of a loaning system, could provide others an ability to get into crypto easily, while also allowing everyone who has bbp to make a slight profit off of their unused currency. Would have to be sure that such a loan couldn't be broken by someone just going offline and transferring their funds to a separate account or paper wallet, though.
May God bless you all,
twinkle
1000 BBP

Also, is the drop in fractional sanc rewards here to stay, or just a temporary drop? Thanks, and may God bless you all,
twinkle
1000 BBP

I have been gathering a pretty comprehensive list of some Christian youtubers, companies, etc. that, whenever we deem ourselves ready to really make a push for adoption, we can contact for either advertising, support, or adoption. Also, Pat, sorry about not emailing you, I will do it soon once I have a better idea myself of what I am going to say to the church I am at pertaining to adopting BBP as a form of tithe, and once I get more settled in there too. Let me know if you would like to see the list I have made and add to it yourself. Maybe we should make that some sort of subthread on this site?
May God bless you all,
twinkle
1000 BBP

Yeah, you can post the list here or DM me if you want. I believe the Foundation has a Tweet List or a way to advertise messages within the system and get BBP. So, we could ask people to like, subscribe, and comment on the YouTubers as a start. It'd build some good will toward these individuals or companies.

I have been gathering a pretty comprehensive list of some Christian youtubers, companies, etc. that, whenever we deem ourselves ready to really make a push for adoption, we can contact for either advertising, support, or adoption. Also, Pat, sorry about not emailing you, I will do it soon once I have a better idea myself of what I am going to say to the church I am at pertaining to adopting BBP as a form of tithe, and once I get more settled in there too. Let me know if you would like to see the list I have made and add to it yourself. Maybe we should make that some sort of subthread on this site?
May God bless you all,
twinkle
1000 BBP

3400 BBP

Also, is the drop in fractional sanc rewards here to stay, or just a temporary drop? Thanks, and may God bless you all,
twinkle
1000 BBP

The Fractional Sanc ROI (I see its -10% right now, and just a month ago it was 78%), so that is dynamically calculated over the last moving 7 day average.
So its based on actual revenue (from running a sanc) minus actual expenses (of sponsoring an orphan).
So yeah it can easily turn positive again as soon as our market price goes about 20% higher (I guess thats .80 satoshi or so).

The nice thing about it even though its negative is you are still sponsoring an orphan for an 80% discount right now if you have a position....

7800 BBP