Komodo Twitter Banner (Q&A)

What is the exchange rate and market cap for Komodo based on the ICO?

0.00012909 BTC/KMD or 7746.521995 KMD/BTC

Total Market Cap: 12,900 BTC

 

What is the exchange rate for BTCD?

It is 50,42041779 KMD/BTCD

 

When does the swap begin?

The exact date for the swap will be announced by the team. The BTCD coins can be swapped over the course of one full year.

 

What is the ‘revenue asset’?

For BitcoinDark a certain revenue share was promised from the various projects that compose the overall SuperNET ecosystem. Those revenue shares won’t migrate to Komodo. Instead, the BTCD holders will get an extra asset that will inherit those revenue streams.

The asset is entitled to these revenue streams:

  • 5% of InstantDEX profits
  • 5% of SuperNET profits
  • 5% of crypto777 profits

After the ICO is over, a snapshot of the BTCD blockchain will be taken. With assetchains we have created a new asset called REVS. A BTCD private key will be required to prove that you had BTCD during the snapshot.

 

Where do I have to hold BTCD to get the revenue asset?

As you may know, there are currently three places where you could store your BTCD:

  1. in your own BitcoinDark address,
  2. in your own NXT address as SuperBTCD (because of the MultiGateway),
  3. in an exchange (like Poloniex).

We urge you to hold your BTCD’s in a wallet under your full control, meaning that you have the privatekey.

The snapshot itself is automatic. After the snapshot is taken — and you have the privatekeys in safe place — there is nothing else to do. Later you will be able to redeem the REVS asset with the BTCD privatekey.

  • Do not hold your BTCD in a NXT wallet!
  • Do not hold your BTCD in an exchange!
  • Keep your privatekey safe!

However, we will add snapshot support for the ICO site, so you could send and store your BTCD there.

 

Where do I have to send my BTCD to get KMD after the ICO?

After the swapping process has begun you can send your BTCD to our ICO site when the swap begins. BTCD can be sent from an exchange.

 

Do I get both: the revenue asset and Komodo coins?

Yes, every BTCD holder will get both Komodo and the revenue asset.

It is not possible to swap before the snapshot has happened.

 

When will the mainnet launch? When can I trade KMD?

The mainnet will be launched after the elections are over. The elections will take two weeks. The exact schedule will be announced later by the team.

We have informed the exchanges about Komodo, but we cannot promise when they are going to list us.

 

So, what’s the future of BTCD?

Because jl777 will be focusing on Komodo development, the BTCD will have no developers left. jl777 joined the project in midway and it currently has no funding.

So we could say BTCD becomes Komodo, but technically the BTCD chain will remain intact (as this is not a fork).

Everyone is encouraged to swap to Komodo. Komodo is the BTCD 2.0!

 

What is the timeline again?

  1. November 20th – ICO IS OVER, no more BTC can be invested
  2. ICO site supports BTCD deposits (to be announced soon)
  3. 7 days after BTCD deposits are live: BTCD Snapshot is taken
  4. First swap BTCD > KMD, and Notary election begins
  5. Two weeks afterwards, election is over and KMD coin distribution happens

After one full year, no more BTCD’s can be swapped

 

Who are the developers for Komodo?

So far the technology behind Komodo is coded almost entirely by jl777. With the ICO funds we are looking to hire more developers. Ideally we would recruit half a dozen high caliber C developers for continued enhancement of the technology.

There is also a GUI team that is working for other SuperNET related projects and who will likely also work for Komodo.

You can see a full list of our team from the Komodo homepage.

 

Who is the lead developer jl777?

Jl777 is the anonymous mind behind the Supernet project, an extremely gifted C developer with financial experience and a clear vision for the future of crypto. His advises are often sought after from other crypto projects and he also follows closely the developments of the whole crypto space. He helps the promising projects by providing feedback and looks for ways to use the technology in his own projects.

He’s also on Steemit.

 

What are the previous and current projects jl777 is involved in?

The first big project and ICO before Komodo was the SuperNET itself. That ICO began on Saturday 6th of September 2014 and all the other projects are related to it.

The first completed project for SuperNET was a multiwallet build on top of Nxt platform. This enabled anyone to deposit any supported coin through a service called ‘MultiGateway’, and then the coins will appear in the wallet as a Nxt token. Those tokens are backed by the real coin which are secured by a distributed solution.

A number of other projects are being developed on top of the SuperNET technology. Those projects are often started by a third parties, but jl777 is himself involved in two of those: InstantDEX and Pangea. Their development will speed up once the low level technology of SuperNET is ready.

Last year SuperNET roadmap had some changes and a major component was announced: Iguana. It can be thought as SuperNET’s low level technology which many other projects (including Komodo) will use.

James has recently given detailed information about the status of his projects, see this, this, and this.

 

What is SuperNET’s track record in finishing its projects?

The previously mentioned Multiwallet and MultiGateway has been finished and fully working for two years. InstantDEX was working on the command line level, but because of external factors it has gone through some heavy changes since then.

Iguana has been working for some time now, and today there are only bug fixes left. A Iguana GUI is being developed and a release is expected to arrive before the Komodo ICO begins.

Komodo is build on top of Iguana and thus many of the hard problems are already solved. For privacy technology Komodo will use the Zcash’s open source technology. For these reasons the mainnet is ready to launch soon after the ICO. The new funds from the ICO will also be used to hire more C developers to help jl777 and accelerate development in the course of 2017.

 

Why there is no real photos of the dev team on your website? The use of real pictures would boost your project’s credibility further.

We are aware of that. However because part of our team is anonymous – including our lead developer – we all decided to not use full names & photos.

Knowing the identity of the developers doesn’t guarantee success. What we believe to be important is the track record behind a name (real or pseudonym). In our case jl777 has over the years demonstrated his capability and determination to carry on with his projects and plans. The roadmap might have changed, but the overall long term goal has been the same. He has not abandoned his projects and has stayed responsible to his past investors.

Like previously explained, SuperNET has successfully developed a multiwallet and MultiGateway on top of the NXT platform. The NXT and SuperNET communities have used those service for 1-2 year and trust in its authenticity. Projects and cases like this should convince people about jl777’s credibility more than an official passport picture ever could.

On top of these the SuperNET has a lot of open source code behind it, that anyone can inspect. jl777 has already began the Komodo development process, and we encourage everyone to follow it and ask any questions that comes to mind!

Open Source code in GitHub:

Iguana – github.com/jl777/SuperNET

Komodo – github.com/jl777/komodo