Because Actions Speak Louder Than Words.
I'd like to introduce you to Augeas.
Inspired by the work done by @mhps, I wondered if the minority shareholders, who were very active in discussion and ideation, but were outvoted a few months back, could have an opportunity to take a different path.
Augeas is a fork of the B&C Exchange codebase v5.0.1.
Augeas has initial share distribution targeted to those who may have wanted to take a different path.
- Augeas has AugeasShares (AES) and AugeasCredits (AEC), analogous to NSR and NBT
- AES denoted by 'A' on the production network and 'a' on the testnet
- AEC denoted by 'D' on prod and 'd' on testnet
- No AEC have been created
- Initial mintage of 50,000 AES; the intent to represent a placeholder shift of 1/10000 (equivalent to 500 million NSR)
- 10,000 Satoshis = 1 Coin; 100 Satoshis = 1 Cent. In other words, the smallest unit is 0.0001
- Minimum amount for mintage is 0.1 AES, making it possible for many to have a quantity of shares to vote.
- Mintage reward of 0.001 AES (1/10th of a cent)
- AES transaction fee of 0.0005 (1/20th of a cent)
- This equates to 1.5% inflation (~525 coins/year).
- 1 minute block time (same)
More about the Initial Distribution
This was done by way of a tool I wrote a tool to analyze the Nu blockchain:
- Any NuShares address used to mint between blocks 500k and 1000k were considered 'candidate address'
- Any NuShares address that voted for the controversial motions or custodial grants (https://discuss.nubits.com/t/voting-address-census-who-are-voting-for-what/4300/38) were eliminated
- This resulted in 455 addresses
- The balances of those addresses were snapshotted at block 888888. 377 addresses had a nonzero balance. This represented about 370 million NSR of the old network.
- Shares were minted and the network was spun up in the classical POW model used for Peercoin, Nu, B&C, etc.
- Distribution was to 377 separate addresses. It is unknown how many individuals this represents, but we can surmise that this community is probably in the dozens or hundreds.
- The detail of this distribution is here: https://woodstockmerkle.bitbucket.io/augeasdao/initial-distribution.csv
- Distribution was both to the production and test nets.
I do not know the identity or ownership of the addresses outside of my own. The shares in Augeas are yours for the taking.
50,000 AES initially minted
- 36,950 AES distributed to a subset of NSR shareholders in their equivalent AES address
- 39 AES consumed in fees for initial share distribution
= 13,011 AES unassigned
Of those unassigned AES:
- at leats 2,700 reserved for short-term network minting; more may be needed depending on adoption.
More discussion about the unassigned AES below.
There is a seed node, for both the production and test nets. The network is being sustained by the minting of 2700 AES.
Next steps - for users:
You can download the precompiled binaries (for Linux and Windows), or build from source.
Just like B&CExchange, there is an "import wallet" feature ... point it to your Nu wallet, and it will import your keys and do a blockchain scan.
After importing, you may wish to close Augeas and re-start, as minting may not commence immediately.
Next steps - for developers:
The Repo is here: https://bitbucket.org/augeasdao/augeascoin
A modified version of Cointoolkit is posted at https://woodstockmerkle.bitbucket.io/cointoolkit/ that includes the coin parameters for Augeas.
The Repo is here: https://bitbucket.org/augeasdao/cointoolkit
The Road Ahead:
I built the binaries and have made them available. But as they are binaries, the savvy cryptocurrency enthusiast knows that in the opaqueness could lurk something unwanted. Also the practice to source your AES is to point that tool at your NSR wallet; skepticism is prudent.
If there is any developer who would can inspect the code and do gitian builds, to compare checksums, I would be super appreciative.
Again, as a standalone developer, all changes have been mine and without peer review and with minimal testing. I'd appreciate any opportunity to collaborate and/or expressing your interest to me and the team to want to be a developer.
I have acquired the domains augeascoin.com, augeascoin.net, augeascoin.org and augeascoin.info
I have registered a Twitter account for AugeasCoin
I have registered AugeasCoin on bitcointalk
However, nothing is set up.
Use of unassigned AES (about 13k)
In the near-term some of these shares will be used to keep the blockchain rolling, until NSR users unlock their AES and get a good amount of mintage going.
My recommendation is to burn them, or to sell them to raise funds. However the decision is with the shareholders
More Action - for the product
It's an open book. Where do we go? Does a pegged coin even make sense to pursue? Other units?
A plethora of ideas for a profitable and useful Cryptocurrency and DAO are ours for discussion. Much has been discussed, and I want to rekindle those ideas, set priorities, and get voting.
Augeas is now public and I hope you embrace it, as well as the fresh opportunity it can give some of us.
Augeas starts with only one thing, and it may be the most important thing: ownership distributuion to a tremendous community made of individuals who want Cryptocurrencies to work, and be sustainable -- not just "get rich quick."
There are no development funds, there's noteam structure. It's an open slate, a fresh start.
The blockchain is rolling -- ready for us to use to make motions, vote on them, and take action.