As more as I think about Apxymous' & Iruwen's proposal, as more this looks to me as the perfect solution for this current situation.Just to summarize the implications:- If the exchanges get the frozen FSN / BTC / ETH / USDT from the thief back to foundation, loss is limited (just send them back as they have the PKs of the wallets in the exchanges)- there will be a lot of winners: - the buyers who bought the dip (holders can cost average; traders can sell for 2-4x once trading opens again => quick bucks for traders who just see the gains not the value of fusion) - the OGs / fusionites (with the proposal above, they get rewards which the traders don't get as a signal of honour from the foundation) - the fusionites / OGs can still buy the dip from the traders above selling at around 0,1 - 0,3; this time with preparation time to get funding into the exchanges and not as unexpected flashcrash) - Foundation ( earning fsn from swaps without buying back and wasting importrant reserves; and showing commitment to the holders) - the exchanges (increasing reputation by having helped the foundation to stop trading, freezing thief's account, getting back the money to the foundation)- There will be just one looser: The thief - Has the foundation, the exchanges, the police and all the detectives in the fusion community as enemies - wasn't really able to earn a lot of money - will hopefully be catched a go to jailAnd the most important aspect is: the whole package would be without any rollback of the blockchain or reverse of the trades generating potential PR downsides, but could greatly be sold into the world as well prepared PR campaign:- Loss was limited by hand-in-hand of foundation / exchanges / police / community- Issues have been identified and mitigated instantly- no issue in the protocoll, (just) a stolen PK of a wallet- Foundation leverages fusion specific instruments to fill the gaps of the theft (swap earnings) and rewarding hodlers for the trust and committment (private time limited swaps) - new nodes for the blockchain- combined with an article why DCRM will be the solution to avoid these kind of issues for the whole blockchain world (which happened and will hapen), written by dima 😉The only issue I still see is, that we need a solution to avoid the wallets of the thief which are not on exchanges being blocked for transfering / selling. As I am not the tech-expert, I leave this problem to the experts. I thing this should be solved, bevore opening trading / deposits / withdrawals on the exchanges (at least on those without KYC).What do you think? @djqian @johnl1 @YonaTak @BitJoe
You log into your Fusion wallet with the same private key or mnemonic as your MEW. When you make the token swap you will find your native FSN in the corresponding Fusion wallet. You can then send to a new Fusion wallet if you wish.
Why not conduct a vote on whether we need to have deadline for erc20 swap or not..I know we need Huobi much but better get into better exchange than Huobi. Enemy is better than a back stabbing friend( Bibox and Huobi)
Private keys aren't really ever "created", they just exist. An Ethereum address is derived from a public key which is derived from a private key as the result of an irreversible mathematical operation. Fusion uses the same fundamental algorithms as Ethereum, thus every private and public key and address that exists on Ethereum exists 1:1 on Fusion too.So any Ethereum private key unlocks the same address on Fusion. ERC-20 FSN sent to the swap address (which is just a burn address) from an Ethereum address is sent back as native FSN to the same address on Fusion, where it can be accessed with the same private key. Mnemonic phrases or hardware wallets just add some additional magic to derive keys and addresses from a seed (sooner or later you'll stumble upon the term derivation path, which is just that).
Yes, after you swap you will be able to access them with https://www.myfusionwallet.com/Ledger, private key, keystore/json and mnemonic phrase are supported ways of signing in.Fusion wallets are generated using the same cryptographic method like ethereum so any keystore or private key generated with MEW for ethereum will also work on MFW.
Can i send native FSN from 1 MEW wallet to another MEW wallet? it says "always failing transaction"?The problem is that I access this MEW wallet with a Trezor device, and that is not supported by Fusion Wallet (and I dont want to use private/mnemonic keys)
I don't know about cycles, but there's alot of waste and malpractices in the current system. Its not self sustainable. If you look at unemployment for instance, you just have to ask yourself if we really need jobs
STATE OF THE STAKINGAccording to the stakingrewards.com USD value locked in staking approaches 9 billion USD, this is 2 billion more than the last time we did this post, while the Staking Market Cap (valuation of all projects that have staking mechanism) is currently at 17 billion USD.We prepared the list of projects sorted by the USD value of the staked tokens. According to the list, the top 7 projects, which are EOS, Tezos, Algorand, Cosmos, Dash, TRON, NEM and have at least 200M value of USD locked in Staking each.We calculated the ratio of staked coins to the circulating supply as well. The leaders are Cosmos (96.3%), Energi (87.6%), Tezos (87%), Kava(85.8%), and Synthetix (85.5%). Note: for Kava, Energi, Livepeer and Iris Network we took the ratio of staked coins to the total supply since these projects allow to stake locked supply.
Would love to learn more about this angle. I'm familiar with the cash crunch small businesses (restaurants in particular, but also nail salons, dental offices, groceries, and through AXP--local car dealerships). These small businesses, it is a cash grab for the government stimulus of PPP / EIDL and a big chunk of them still can't even get these loans. The default risk remains quite high. Who knows when customers will be coming in. 1 month? 3 months? Putting aside the legal / securities licensing for now: if we were to approach these small businesses, who would be the investors? Would you be comfortable lending money to a business, even if you support it, that may default? Especially, put in contxt where a large portion of the economy is unemployed/drawing down their own savings?