DAPS August Updates - Mainnet Soon! - DAPS Coin

DAPS August Updates – Mainnet Soon!

DAPS updates

Only 5 weekends left until we hit mainnet!

They say that “time flies when you are having fun” – we agree, it has been a pleasure working with everyone involved with DAPS.

More information will be shared over the next few weeks regarding the transition to ensure the whole process is as clear as possible.

The audit is on track to conclude the end of next week. Once the report is complete we will share it with the public.

Get ready DAPS fam for the most exciting part of the journey – lead up to mainnet and launch day!

swaps network partnership daps

SWAPS.NETWORK and DAPS entered into a partnership agreement to collaborate. Cooperation will include using SWAPS.NETWORK solutions to transition from the ERC-20 token of DAPS to our own blockchain.

By agreement, in the future, both projects plan to add interaction functionality between the DAPS blockchain and other blockchains on the platform such as Binance Chain, NEO, EOS and TRON. In addition, there will be the possibility of an OTC exchange with another blockchain for all tokens issued on SWAPS.NETWORK through the MyWish platform.

Read the full blog here.


staking

As many of you know, we had a poll not so long ago about minimum staking amounts and the effect on the network.

We had many varied reasons for why people chose the numbers that they did.

Many of you said it should be 900 000 DAPS. While we can see why some of you chose this option, we felt that it was too close to a masternode amount of 1 000 000. There were also quite a few people who said we should have no minimum amount.


We understand that everyone would like to stake and earn those precious rewards, but the reality of it is that a 500 000 staking amount is much more likely to get regular rewards than a 50 000 amount. This is because of the weighting system. While 50 000 may earn a reward, the ROI (Return On Investment) for that staking amount is very small compared to the amount of possible white noise it could generate.


Also, very small amounts that are staking could cost more in terms of electricity, data and bandwidth than the value of the reward received and the amount of time to wait to receive it.

So, without further ado, ladies and gentlemen, boys and girls, for your pleasure and excitement the official minimum staking amount is…

400 000 DAPS!

This averaged out to be the most selected answer and after conversation amongst the team and devs along with an investigation into network effects and average holdings, we decided that this is the best of all worlds.

According to our data, more than 85% of holders have higher than 400 000 DAPS and as such, it means that the vast majority of you can still stake.

We think that this number is a very good baseline and the developers have a ticket in the system to add this to the wallets.


DAPS Canada
DAPS was in Canada recently

DAPS was a huge success at the Blockchain Futurist Conference this August 12 – 14 in Toronto, Canada. It is the largest most high profile blockchain event in Canada and our team received a lot of attention again and as you guessed it, our t-shirts all gone within hours.

Justin and James did us proud and we thank them for the wonderful connections they made for us and for showcasing our technology that is launching next month.

We are always looking at events around the globe and we might be in your country next!


Our legal team Agile Legal Consulting is still on top of the Cryptopia situation for us and here is the latest Grant Thornton update:

Read the update here.

We will continue to monitor the situation and follow the guidance of the lawyers to best deal with this. We hope the outcome will be a positive one for everyone affected by the hack.


DAPS Exchanges

As mainnet is approaching we are rounding up our exchanges that will be used for DAPS Coin. We are currently on 9 exchanges but some of them won’t have our coin right from the start of mainnet launch.

The exchanges that will be included so far are:

Bibox

txbit.io

CITEX

To be confirmed:

STEX – listing fee required

BitMart – listing fee required

NEXT.Exchange

Won’t be listed on:

Fcoin

Coinvest

CREX24

We are still busy with this process so this is not the final list for DAPS Coin.

Remember that storing DAPS on exchanges are a big risk. Keep them in your own wallet where possible. 👍


Most of you are aware of the CoinMarketCap issue but in case you haven’t heard CMC recently dropped DAPS over 1000 places in rank down from rank 175.

There is to date no plausible explanation from CMC regarding this issue. Adel made a video about this new algorithm and requirements and the media has picked up on the story. Adel identified many flaws with the new system and states that it is detrimental to the success of the crypto industry. Her video has over 12 thousand viewers to date: AdeldMeyer/status

CMC responded recently but still haven’t answered the concerns directly. They also changed Kucoin Shares back to their original ranking recently even though they don’t make the new requirements either. It is clear that they need to provide answers as the most used website for ‘trusted crypto data’.

Adel has legal counsel on the issue and is fighting for an answer for all of us. She will keep us updated. In the meantime please read and share the media around this serious issue:


Forbes

Blockmanity

TheDailyChain

CoinSpeaker

An investigation by Big Frizzy – DAPS community member.

We urge you to please consider using CoinGecko as their information is clear, fair and transparent.

We also have an exciting update coming soon with CoinGecko regarding DAPS mainnet launch – stay tuned!


Adel and Andrew recently did a YouTube live Q and A session to answer some of your questions. More of these live streams will be hosted in the future to stay connected with you, our community.

Watch the YouTube video Here.

We are extremely excited about mainnet that is literally just around the corner. We cannot wait to celebrate this big day with you all. Thanks for your support.

More blogs and guides following soon regarding the mainnet process.

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