Minter Dev Notifications
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Our developer Sergey Klimov sheds light on every change and new feature that will come with Minter 2:

Article | ​Node PR | Documentation PR
🔗 On-Chain AMM with Order Book

Minter 2 will revolutionize the DeFi protocols with its On-Chain Automated Market Maker with Order Book (AMMOB).

Traders will be able to create fixed-price orders in the AMM liquidity pools without having to give up the benefits of those pools.

AMMOB will do great for exchanging stablecoins, for example, USDT for USDC. One will have an opportunity to create an order to buy $1,000,000 worth of USDT for USDC at 1% below the market and later sell it at 1% above. Compared to the traditional AMM pools, AMMOBs have better liquidity: in some areas, the price curve becomes a horizontal line.

The blockchain fees (spread among validators and delegators): $0.08 for creating an order and $0.01 for canceling it. An additional 0.2% on the volume that has been filled goes to a liquidity pool (or liquidity providers). The fees can be paid in any token issued on the network.

Learn More:
Upgrading to Version 2 of Minter: Step-by-Step

Together with validators and community members, the Minter team is about to finish testing the functionality of Minter 2 and Minter Hub.

Minter 2 will allow for trading in leading cryptocurrencies, tokens, and digital assets. It won’t be storing your funds, while all trades will be 100% decentralized and processed for $0.03+0.2% via an automated market maker in five seconds.

To make the launch as secure and smooth as possible, we’ve decided to split it into the following stages:
1. Minter 2 Mainnet launch: the full functionality of the Minter 2 blockchain will be available on April 12, 2021.
2. AMMOB launch: the roll-out of On-Chain Automated Market Maker with Order Book is expected in 1–2 weeks after the main network is up.
3. Hub launch: the Minter Hub network is set to go live on April 19, 2021.
4. Addition of several coins issued on Minter (e.g., LASHIN and CHAIN) to Hub: once the Minter Hub network is operational, validators will vote to determine several coins to test cross-chain transfers. That will trigger the beginning of protocol’s final testing phase.
5. Addition of HUB: once LASHIN and CHAIN have been successfully integrated, HUB will follow.
6. Addition of USDC: once HUB has been successfully integrated, USDC will follow.
7. Fixing of M2 fees in dollars: once USDC is aboard, there’ll be a vote to set USD-expressed fees.
8. Addition of other ERC-20 tokens to Hub: once fees have been fixed in U.S. dollars, a vote will be announced to add more ERC-20 tokens to Minter (wETH, wBTC, USDT, UNI, and others).
9. Connection of Binance Smart Chain.
Forwarded from BTC.Secure
🗳Vote for Minter Network Commission Price (Commission Proposal 1.1)

Voting for commissions in the Minter blockchain was launched today.

Voting is divided into several stages, in each of which a certain part of the commissions is changed, grouped according to common characteristics or in accordance with the preliminary consent of the majority of validators.

In the first part (Commission Proposal 1.1), it is proposed to update the commissions for sending, exchanging and delegating transactions:

• Send (send, multisend) ~$0.01
• Exchange (buy/sell coins with reserve and through pools) ~$0.03
• Delegate (delegate, unbond) ~$0.1

At the moment, all transaction fees in Minter will be expressed in BIP, but their prices will be quoted according to the price of $0.02 per BIP.

As soon as Minter Hub is launched, and then USDC stablecoin is added to Minter, the validators will again vote on linking commissions to $.

The updated commissions from the first stage (sending, exchanging and delegating) will take effect on April 15 at ~20:45 UTC on the block 3 341 000 with a set of 66.66%+ of the total vote power of the validators.

⚠️We encourage all Minter validators to submit their votes before the selected commission update block.

You can follow the voting process on this page.

Commission Proposal 1.1 with a full list of parameters and voting instructions for validators —
🚀 The Minter Hub Network Is Live!

Minter 2 + Minter Hub will allow anyone to trade in cryptocurrencies, tokens, and digital assets. Without storing your funds, via completely decentralized orders and transactions processed by an automated market maker in five seconds and for $0.03+0.2%. Transferring USDT, USDC, ETH, BTC, and other coins will take five seconds, too, costing you as little as $0.01! Minter Hub will also make it possible to tie Minter 2’s fees to the U.S. dollar.

At 4:00 p.m. UTC yesterday, the mainnet of Minter Hub was launched. At this moment, the smart contract is being deployed on the Ethereum network (which is still pending because of the abnormal congestion).

Once the smart contract has been successfully deployed, all validators will be able to transfer their HUB to Minter Hub at no cost and start validating. For some time, there will be no penalties.

At this stage, cross-chain coin transfers are not available yet. During the first week, validators will be monitoring the stability of the network and whether the contracts update the list of the validators properly. Once they have verified that everything works as intended, we’ll initiate a vote on introducing an option to transfer HUB from Ethereum to Minter and vice versa.

All stages will be rolled out gradually to ensure the user funds’ safety. In case of an unexpected event, the smart contract can perform emergency stoppage and transfer of coins.

Further activation of Minter Hub:
- Addition of HUB
- Addition of USDC: once HUB has been successfully integrated, USDC will follow
- Fixing of M2 fees in dollars: once USDC is aboard, there’ll be a vote to set USD-expressed fees
- Addition of other ERC-20 tokens to Hub: once fees have been fixed in U.S. dollars, a vote will be announced to add more ERC-20 tokens to Minter (wETH, wBTC, USDT, UNI, and others)
- Connection of Binance Smart Chain

Minter Hub network’s source code and instructions on setting up a node:
🔗 HUB on Binance Smart Chain

Due to Ethereum overload (in some cases, fees for token transfers reach $70), we’ve decided to speed up the Minter Hub’s integration with Binance Smart Chain. The first stage will be the issuance of the HUB token, which will be not an entirely new one but a mirrored version of that on the Ethereum network.

Anyone can participate and get HUB on Binance Smart Chain in exchange for HUB on Ethereum. To make a swap, you need to send your ERC-20 HUBs to the multisig wallet of the validators by Friday, April 30, 2021 @ 11:59 p.m. UTC:


By May 7, 2021, HUB tokens on Binance Smart Chain will be accrued to the same address you used to send them, so make sure you have access to it. After that, you’ll be able to freely transfer HUBs, add them to liquidity pools, and buy/sell them at fees lower than Ethereum’s.

Owners of the multisig wallet that will transfer collected HUBs to the Minter Hub smart contract on May 1:
1. ProBlockchain
2. BTCSecure
3. MonsterNode
4. Rundax
5. Stakeholder
6. MinterOne
7. Minternator
8. ONLY1
🔗 Minter Hub Is Live

After long tests, we’re opening Minter Hub for everyone. On this page, you can deposit or withdraw your HUB from or to Ethereum network.

The next step is adding USDC and USDT stablecoins to Minter 2, which is expected by the end of May if everything works as planned. You’ll be able to buy and sell these tokens right inside your wallet and also move them between Minter and Ethereum networks. A vote on whether to add these tokens will be initiated once all tests involving HUB are successfully completed.

⚠️ Beware! Cross-chain transfers through Minter Hub are currently in the alpha version. You bear sole responsibility for all operations with your assets, meaning you may lose them entirely. Use this functionality at your own risk. Minter Hub is open-source. If needed, you may investigate its code before making use of the features offered on the page above.

Explainer on selecting fee for withdrawal to Ethereum:
- Normal: your transaction will get into waitlist and will be sent once the number of senders is enough to cover the fee on Ethereum. If that doesn’t happen within an hour, the coins will return to your wallet;
- Fast: your transaction will be sent to Ethereum right away. The confirmation time, however, will depend on current load.
🚀 The First 1,000 Cross-Chain Transfers

Volumes by coin:
- 60 343 HUB ($6 637 730)
- 760 745 USDT ($760 745)
- 66.38 ETH ($167 590)
- 156 059 USDC ($156 059)
- 1.26 BTC ($50 459)

The total worth of assets transferred between the chains stands at $7 772 583, while the worth of coins under management of Minter Hub amounts to $3 917 522.

Since the introduction of tokens whose transfers come at a fee, HUB delegators received $11 348 (in 24 days). You can also take part in the distribution of rewards by delegating your HUB to Minter Hub oracles.
Quantum Pools and Liquidity Superposition

1. Liquidity pools

You have all used currency exchange at least once in a lifetime—for example, when you needed to buy EUR for your trip to Europe. Earlier, this was done with paper money, but with advances in technology, everyone got used to banking apps. Yet few have been wondering where the money we get in return comes from. It’s pretty simple, really—the bank buys it on the market and then resells to you at a slight premium. That’s why there’s a 1–2% difference from the central bank’s rate in either direction. This delta is the bank’s income, and often, that income is significant.

Blockchains have gone even further and allowed everyone to lock liquidity—or tokens representing currencies—into smart contracts. Roughly, it works like this:
– Bob has 10,000 USDT and 10,000 MUSD. He puts it all into a swap pool and becomes a liquidity provider
– He can withdraw all his funds or put in more whenever he wants
– Apart from him, there are other providers in this pool. And their share of income depends on how much they’ve supplied
– From each swap—say, 1,000 MUSD for 1,000 USDT—the pool gets its 0.2%, or $2 in our case. Any volume can be swapped, starting from .01 and going up to millions of dollars at once!
– These rewards are automatically summed up with the provided liquidity, thus generating a compound interest. Because at the time of next swap, Bob—provided his share is 100%—will have 10,001 MUSD and 10,001 USDT. Convenient, right?
– Since blockchains are open, accessible to everyone, and users can make swaps of any amounts, there are thousands of trades daily—even in projects like Minter, those just getting started—and thousands of dollars in fees, distributed once every 5 seconds among all participants.

2. Quantum pools and liquidity superposition

Now imagine you’re running an exchange working with BTC, ETH, and USD. You won’t be maintaining the "pool" with ETH or BTC only. You will be exchanging what you have for what your customers have and extract maximum profit by supplying more liquidity and collecting more fees. The money needs to work where it’s most needed at the moment, while the "one coin, one pool" approach limits liquidity and potential fees. Real-life example: on Minter, 250k USDT is now placed in the pool with HUB. And while it’s sitting in there, it could be also providing liquidity for USDC, and ETH, and BTC.

How does it work?
Assume the user has 1M BIP, 100 HUB, and 10,000 USDT. They’re ready to lock both BIP and HUB into liquidity but don’t have the necessary amount of USDT to cover it all. It’s only logical they start monitoring the deals. As soon as they see there’s going to be a huge deal in the HUB-USDT pool, they add liquidity there. Then back to BIP-USDT. And that’s how they’re making money out of all deals.

Here comes the magic: imagine the same thing happening on-chain. Liquidity is placed across several pools at the same time and is used where needed. Meaning it’s in superposition.

The number of pools is unlimited. Let’s take three—given 1M BIP, 100 HUB, and 10,000 USDT:
1. 1m BIP vs. 10k USDT
2. 100 HUB vs. 10k USDT
3. 1m BIP vs. 100 HUB

Some of you may think that it seems the user has provided twice as much liquidity as the money they’ve had—$60k supplied versus $30k initial. You would be right, but only partially, because the amount of funds is the same, but those funds are put to use more efficiently.

What would quantum pools bring us?
1. More fees for liquidity providers due to superpositions
2. Higher liquidity across all pools, resulting into more trades and more fees as well

Specific implementation and details are yet to be developed, but for now, what disadvantages of the scheme above do you see? Have you seen anything like this in other projects?
🔗 Minter 2.6 Tests

The long-awaited Minter v2.6 with on-chain orders (On-Chain Automated Market Maker with Order Book) is ready for public testing!

Traders can now place orders at fixed rates in the AMM liquidity pools. Compared to the traditional pools, AMMOBs have better liquidity, while LPs get an extra fee on filled orders boosting their overall earnings. Learn more about AMMOB.

• To open a limit order, go to the corresponding section and fill out the form
• To cancel your order, use another form on the same page
• The order may be filled partially
• Orders that have not been filled are automatically removed after ≈30 days since being placed (on the testnet, this period is reduced to 3 days)

Node Binary:
Test coins faucet: @MinterTacoNetTapBot

Launching node on testnet:
node --testnet --genesis "" --persistent-peers "a80806d20b3bda7eb3997560a1c24e23fbbc483a@"

Alert: do not sign in with your mainnet wallet’s seed phrase as you might lose all of your funds.

We’d like to also remind you that Minter has an ongoing 🪲 Bug Bounty program. Please report any issues you come across in the @MinterDevChat using the #bugbounty hashtag.
Forwarded from Webcounters (webcounters)
☕️ Updated Kotlin SDK for Minter
Major additions in version 2.0-beta:
• Support for gRPC transport (speed advantages are ~ 10 * times)
• Support for asynchronous methods in several modes (Coroutines, Java Thread)

I also published the generated (protoc) Java and Kotlin classes for low-level access via gRPC transport

Donation address: Mx72b9ccf56eb6e1a0d00b50dd92314109649033be
Forwarded from Webcounters (webcounters)
Minter Node Benchmark (open source) console application to test the performance of the api node.
The current version allows:
• Check the download speed of random blocks and transactions *.
• Use different transports (HTTP, gRPC)
• Convenient to configure via yaml config
• Output the final report
• Cross-platform launch (Linux, Windows, macOS)

The application uses Minter SDK 2.0 on Kotlin and perfectly shows its advantages in performance and usability

Donation address: Mx72b9ccf56eb6e1a0d00b50dd92314109649033be
Minter Dev Notifications
Minter Node v2.6.0 Release
⚠️ We remind all node owners to update the executable files before the block #7683130 (01/12/2021, 15:49:05). After this block, old nodes will halt.
Forwarded from Webcounters (webcounters)
Remote build, sign and send any Minter transaction -> minter-rpc-wallet-js
Application cases:
- Isolation of the wallet secret phrase from the application
- Execution of transactions even if there is no SDK in the application language