MNX - DASH (DarkCoin) Masternode Asset

[astro]

It's not really a stake age. I think it's just a shortcut in the code to make sure all the MN who were active before you get paid before you do.

[astro]

Good day, folks!

If anyone has been paying very close attention, they will notice a change to the Masternode's configuration. We are making use of the "donation" feature within the Masternode configuration. This should automatically re-route the rewards to a separate address for payouts.

The benefit of this is two-fold. First, it means we do not have to access the Masternode's collateral wallet (the one where the 1k DASH is stored) for payouts, which is a plus for security. Secondly, it means the maintenance vs payout percentages will be split automatically from any reward received, so we can avoid any math mistakes there.

We will continue to automate anything we can in order to increase transparency and protect against operator failure, especially when we can do so using methods that are baked into the cryptocurrency.

~ astro

P.S. This change was made about 12 hours ago, so if you have been paying that close attention, go outside and have fun, no reason for both of us to be cooped up staring at screens.

[Redacted]

Thanks Astro!

[astro]

Hi guys!

I have great news, bad news, and many many questions.

We have received 3 block rewards to our payout "donation" address. I just realized I never posted it, so here it is: Xuf2miomBXHg763wLRgHSjs6NmKTZVzovJ

https://chainz.cryptoid.info/dash/address.dws?Xuf2miomBXHg763wLRgHSjs6NmKTZVzovJ.htm

So that's the great news!

The bad news is that it seems that the "donation" functionality I wrote about earlier today is not fully implemented, as it does not split rewards. The entire amount just gets sent to the "donation" address. So, while we still get the security benefit from not having to scrape payouts from the vault address, you all will have to check my math on the fees vs payouts

The questions all come in me trying to understand the code that controls Masternode rewards, so you don't really have to worry about those. I'm just trying to figure out what sort of frequency to expect rewards per Masternode. I was not expecting 3 in one day, so I don't know what that means for future rewards. Oh well, back to the code for me, just when I thought I was understanding it, lol.

[BitcointraderYUL]

Any news here?

I see that the node has only generated those three payouts so far, which were all on the 15.

[astro]

@BitcointraderYUL (and all),

Yes, the node has only generated those three rewards, but that is expected since the Masternodes all get cycled through for rewards. My plan is to do payouts on Monday (and every Monday following) in order to avoid the weekend dips in price. If it looks like there is a pattern that would better suite payouts then we can switch to that day.

Since this is the first few weeks of running, we don't have any live data to predict when our Masternode will get rewarded. I've been looking at the code and statistics and I think we're expecting roughly a 4 day rotation, so we will see if that holds true.

[BitcointraderYUL]

For sure, I dont see why it MUST be on Sundays, especially if you have noticed a corellation
Pretty sure no who would argue if payout day is adjusted for the better.

[astro]

Payouts Have Been Processed for MNX (4/20/2015):

We received 3 rewards this period, which was slightly surprising as we only anticipated 1 approximately every 4 days. We are not sure yet if this will impact future rewards or not, but we should know in the next few days as the Masternodes on the network are cycled through again.

This Week's Revenue:

5,655 Satoshi per 1 MNX

Transaction: https://www.coinprism.info/tx/d5d18d1e2e1fcd0ad72e2276060b8fcea788de507cf4d53ced893cfc649bc941

A bit of explanation on the payouts. The procedure right now is mostly shown above. Rewards are calculated, maintenance is deducted, the best price from the 3 major exchanges is picked, and BTC is sent out as a dividend to all MNX holders via coinprism.

For now, I am personally acting as the exchange at the best rate from the major 3 listed above. This means there are no exchange or transfer fees charged on the rewards. If anyone has an objection to this, I can certainly perform an actual sale, but if there is no objection, I'm willing to buy the DASH at the best rate so we can avoid un-necessary fees on the payout. I'll do that as long as I'm able, but it's not a guarantee, so we may incur the exchange fees in the future.

[Diggio]

Thanks @astro--good to see the first payouts.

[Daffy]

One remark Please post the transaction with the payouts.

[astro]

My apologies, here is the transaction.
https://www.coinprism.info/tx/d5d18d1e2e1fcd0ad72e2276060b8fcea788de507cf4d53ced893cfc649bc941

[maizenblueminer]

Did we just get another block reward?

[astro]

hrmm....I'm not at the wallet, but it would appear so according to the blockchain. What's strange is we have it set to donate to a payout address, but that went directly to the MN address. This was the 4th reward though, so perhaps it is re-directing 3 out of every 4 rewards (we had set the "donation" redirection to 75% to automatically handle maintenance splitting). That's not what we expected from the functionality, but it may be what it is doing.

Regardless, that reward will be scraped for next weeks payouts, so yes we received another reward.

[lothendriel]

[astro]

Pretty much....we've had a number of un-expected things occur with the node in terms of payout frequency and functionality. Luckily so far all of them have actually been good for the financial side, lol

[astro]

There was also a 1/3 difficulty drop for a few hours and we got rewarded in the middle of it, so the block reward was larger than normal

[maizenblueminer]

@astro - Would you add the master node address link and the "donation" address link to the OP, so that we have easy access to it for keeping an eye on things? TIA.

[astro]

Done
I'm still trying to figure out the best way to keep all this information organized. I may just create a separate thread. Stay tuned!

[astro]

We got another reward today
https://chainz.cryptoid.info/dash/address.dws?Xuf2miomBXHg763wLRgHSjs6NmKTZVzovJ.htm

[Daffy]

Patiently waiting for the next payout.

Are we there yet.......
Are we there yet.......
Are we there yet.......
Are we there yet.......
Are we there yet.......