BitShares Forum
Main => General Discussion => Topic started by: monsterer on October 27, 2015, 10:47:13 am
-
Hi everyone,
Metaexchange is the original bitshares gateway, so far we have processed 2720 BTC across 5 markets and we are the first and only instant exchange to offer limit orders, and the only instant exchange with integrated market makers to offer you the best prices.
We are now offering a chance to share in our success: METAFEES UIA!
The METAFEES asset represents the fees we generate from running metaexchange. Our fees will be divided between the number of METAFEES which sell. For example, If there were 100 METAFEES sold in total, those 100 shares will get 50% of the fees we generate between them. There are 10000 for sale and 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC. We hope to raise 200 BTC in total, pricing each share at 0.02 BTC.
We will buy back the METAFEES asset monthly with 50% of our collected fees on the open market, thereby raising the value of asset.
The fundraiser will run for 60 days, starting today!
Fees
To date we have processed 2720 BTC of transactions, resulting in fees of 8.16 BTC and we expect this to increase dramatically as we add extra liquidity, more markets, Bitshares UIA coin tokens and margin trading.
With only 40 BTC of bootstrapped liquidity we made trading fees of 8.16 BTC, so we're very excited about what we can do with 200 BTC!
Buyback
Every month we will publish the earned fees and we will announce in advance how many METAFEES we will buy back in BTC, NXT, ETH etc. This will lead to a constant buy pressure for the METAFEES asset, raising its value.
Our plans
We will use the funds raised only to increase the liquidity in the markets that we offer and to add new Bitshares UIAs representing each of the coin types we support, such as Bitcoin, Ethereum and Nxt, to give you a chance to trade these tokens on the Bitshares DEX with full redeemability to the real thing. So each METAFEES purchase that you make furthers Bitshares itself as well as metaexchange. Further, we will add Bitshares DEX market markers (using our propitiatory technology) to these new UIA token markets adding the liquidity that traders demand. For example we will create (BTC, NXT, ETH and any new coin we provide as an UIA) along with a market maker in the primary BTS market for each one.
We aim to become the number one instant exchange. We will achieve this by offering the best available liquidity in the markets we serve, combined with ground breaking features. We are already the only instant exchange in the world to offer limit orders and relative limit orders without requiring an account or registration.
In the future we plan to offer leveraged margin trading, which will allow anyone posting collateral to go long or short on their favourite coin with leverage without requiring an account. The funds we raise will allow us to achieve this by lending out our liquidity to margin traders, for a small lending fee (which will be paid, in part to holders of METAFEES) and our standard trading fee.
We will also share 50% of the fees we generate through UIA trading, any withdrawal fees, and Bitshares referrals.
Competition
Our main competition is shapeshift.io who recently raised £1.2M in funding for 30% of their business, valuing them at £4M. They work using the reseller model, buying their inventories from major exchanges after each trade. This model relies on the liquidity of the exchanges they use and also has the associated counterparty risk of having a float in the exchange's wallet. Metaexchange works by making markets - we are a liquidity provider and as such, have the potential to offer far superior spreads without the associated counterparty risk.
Risk
As with any fund-raiser, there is associated risk. Particularly with digital currency services, the risk of being hacked is the primary concern. We use best practices in security, particularly with site/wallet separation and server hardening and have a running $500 bounty available for any discovered exploit. Even so, this risk is still present. Also, the regulatory environment could change unfavourably towards crypto-currency only exchanges. There is also market making risk; if our losses from market making exceed the amount we charge in fees, there will be a gap in fee payments.
If for any reason, metaexchange shuts down, we will use our liquidity pool to buy outstanding METAFEES back.
How to buy
You can purchase the METAFEES asset which represents our shares, initially on the Bitshares DEX (priced in BTS) and later on metaexchange itself priced in ETH, BTC and NXT, once we finish out Bitshares 2.0 integration.
The price of METAFEES in each market is calculated to have the same value as if you purchased from the BTC market. We have multiple markets to buy from because we have multiple market makers in metaexchange - for example, if you buy METAFEES using BTS, you will contribute toward ours BTS/BTC market.
METAFEES are listed on the Bitshares DEX, market: METAFEES/BTS
https://bitshares.openledger.info/#/exchange/trade/METAFEES_BTS
...and now on metaexhange:
https://metaexchange.info/markets/METAFEES/BTC
https://metaexchange.info/markets/METAFEES/ETH
https://metaexchange.info/markets/METAFEES/NXT
Disclaimer
We make no guarantee about the future value or returns related to the METAFEES asset and all purchases are at the buyers risk. This is not an investment proposition, or a binding contract. We are not liable for any losses incurred, direct or indirect by participating in this fundraiser.
Any questions, please post them here, thanks for reading!
monsterer/shentist
-
very good, you should also open a faucet account, and give the profit to the share holders.
-
Finally!!! Thanks
Have you considered selling your token against USD instead?
-
Good one! +5%
-
+5%
-
+5%
You just started a trend. Now all the exchanges will have to do something similar to be competitive.
I have to say though, brilliant move and excellent timing. It's also a good way to test the power of Bitshares 2.0 but I say while you should launch on Bitsharestalk you should also promote on the Reddit and on Bitcointalk.
A lot of people check Bitcointalk, or even Bitcoinmarkets on Reddit.
-
In :D
-
+5%
You just started a trend. Now all the exchanges will have to do something similar to be competitive.
I have to say though, brilliant move and excellent timing. It's also a good way to test the power of Bitshares 2.0 but I say while you should launch on Bitsharestalk you should also promote on the Reddit and on Bitcointalk.
A lot of people check Bitcointalk, or even Bitcoinmarkets on Reddit.
good catch
-
to evaluate you business - what are you current fees?
-
+5%
You just started a trend. Now all the exchanges will have to do something similar to be competitive.
I have to say though, brilliant move and excellent timing. It's also a good way to test the power of Bitshares 2.0 but I say while you should launch on Bitsharestalk you should also promote on the Reddit and on Bitcointalk.
A lot of people check Bitcointalk, or even Bitcoinmarkets on Reddit.
Thanks! Yes, once we have bitshares 2.0 integration done, we will be linking to the bitshares web wallet from metaexchange with instructions on how to invest, so we're hoping to attract some non bitshares users from bitcointalk and elsewhere :)
-
Why don't you guys open up UIA pegged assets for popular stock markets: SPY, APPL, etc, and market those as well?
-
excellent!
I also have a little shares of the Nxt DEX. I am glad to see bitshares DEX start to surpport some shares exchange.
-
Why don't you guys open up UIA pegged assets for popular stock markets: SPY, APPL, etc, and market those as well?
We could run BTS markets for MPA's NASDACQ and SHENZEN, but this might be a future option :)
-
Nice! +5%
If you gonna offer margin trading, I was wondering what is stopping you from implementing the whole thing:
https://bitsharestalk.org/index.php/topic,19249.msg247254.html#msg247254
-
to evaluate you business - what are you current fees?
@fav our current shapeshift like businessmodel charges 0.3 % transaction fee in total we make each month 1 BTC with 40 BTC in liquidity or (15% each year for 50% of the fees 1/2 *12 month)
we expect with more liquidity and running market makers on our DEX UIAs (BTC, NXT, ETH etc.) we will make something similar, so we expect to have a buyback volumen of 10-15% of the raised capital.
1 important point: we don't sell this amounts we collect to fund our livestyle. We collect it, because we have the need to run market makers with liquidity. So if we have to shutdown metaexchange in the future
we will buyback everything with the liquiditypool funds at this point in time.
-
Nice! +5% +5%
Could you pls share a sample CLI command for purchasing some METAFEES with BTS?
-
Nice! +5% +5%
Could you pls share a sample CLI command for purchasing some METAFEES with BTS?
I'd love to - this is so hard because of all the different asset precisions, requirement to list in satoshis and the indistinction between buying and selling. I had to resort to using the GUI to place orders :)
-
This is great news.
Count me in.
-
monsterer and me will be on the mumble server on
thursday 8pm CET,
so if you are interested and have questions for us, this will be a good time to take action.
-
Please give us a pull request with your wallet integration components! I really want to see this well integrated.
I love the business model!
-
Please give us a pull request with your wallet integration components! I really want to see this well integrated.
I love the business model!
Thanks :)
I sent you a PM with a patch in, did you get it?
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC.
12000x0.005%=60% of total fees, what about the remaining 40%?
thanks!
PS Obviously many +5% for your business model!
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC.
12000x0.005%=60% of total fees, what about the remaining 40%?
thanks!
PS Obviously many +5% for your business model!
@liondani
50% from everything we are getting - mostly fees! We just gave us for the liquidity we already have METAFEES as well, to do the calculation better. We will not sell our own METAFEES within a year. The 0.005% is calculated for 100.000 METAFEES.
the remaining 50% if for running metaexchange, paying partners, paying advertisments etc.
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC.
12000x0.005%=60% of total fees, what about the remaining 40%?
thanks!
PS Obviously many +5% for your business model!
shapeshift got an investment, it would be nice if they saved some in case someone bigger decides to invest on metaexchange.
Since I discovered Bitcoin, I remember discussing with a friend of mine that what people needed would be something like shapeshift and metaexchange. Something instant, no login required. It's awesome see those ideas come real after a couple years. Keep it up guys +5%
Btw, will we see an annoucement on bitcointalk next to the ones of the major exchanges? It would certainly attract some attention, specially since you're competing with Shapeshift and already offer more features, plus, people have the chance to invest.
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC.
12000x0.005%=60% of total fees, what about the remaining 40%?
thanks!
PS Obviously many +5% for your business model!
shapeshift got an investment, it would be nice if they saved some in case someone bigger decides to invest on metaexchange.
Since I discovered Bitcoin, I remember discussing with a friend of mine that what people needed would be something like shapeshift and metaexchange. Something instant, no login required. It's awesome see those ideas come real after a couple years. Keep it up guys +5%
Btw, will we see an annoucement on bitcointalk next to the ones of the major exchanges? It would certainly attract some attention, specially since you're competing with Shapeshift and already offer more features, plus, people have the chance to invest.
hi akado,
first thanks!
yeah, we will make an ANN after monsterer has finished the BTS 2.0 integration so we can sell METAFEES via metaexchange.info for BTC,NXT and ETH as well.
-
Please give us a pull request with your wallet integration components! I really want to see this well integrated.
I love the business model!
Thanks :)
I sent you a PM with a patch in, did you get it?
Probably fell through the cracks... create an issue on github with the patch.
-
Just bought some on the DEX!
Awesome model guys.
-
I just placed an order. 1.503 BTS for 1 METAFEE
It's pending. Did I make everything correct?
-
I think I made a mistake cause it says that the price is 1.0 BTS per METAFEE but below the red number is 1.503. I want to cancel the order but don't know how.
I see that I placed an order, how can I cancel it? In 'Trade' or in the dashboard/orders? There are no orders in 'Orders'.
-
I think I made a mistake cause it says that the price is 1.0 BTS per METAFEE but below the red number is 1.503. I want to cancel the order but don't know how.
I see that I placed an order, how can I cancel it? In 'Trade' or in the dashboard/orders? There are no orders in 'Orders'.
You should be able to cancel your order on the 'Exchange' tab in the METAFEES/BTS market, down the bottom of the page it should be shown with a 'Cancel' button.
-
first day of the fundraiser!
WOW - we already sold 10.5 BTC in METAFEES or roughly 5% of our goal of 200 BTC so thank you for your support and trusting monsterer and me.
we will be available tomorrow on the mumble server for a question round on 8pm CET. We will try to record it and make it available later.
So if you are interested and have questions for us come tomorrow.
-
first day of the fundraiser!
WOW - we already sold 10.5 BTC in METAFEES or roughly 5% of our goal of 200 BTC so thank you for your support and trusting monsterer and me.
we will be available tomorrow on the mumble server for a question round on 8pm CET. We will try to record it and make it available later.
So if you are interested and have questions for us come tomorrow.
good work man!
-
first day of the fundraiser!
WOW - we already sold 10.5 BTC in METAFEES or roughly 5% of our goal of 200 BTC so thank you for your support and trusting monsterer and me.
we will be available tomorrow on the mumble server for a question round on 8pm CET. We will try to record it and make it available later.
So if you are interested and have questions for us come tomorrow.
I'd like to buy some but still having the issues with importing my wallet. It says there is no balance and they haven't yet upgraded the web wallet to use the bloom filter mechanism yet have they?
This isn't the first time something like this has happened. MCXnow had used a similar business model too so your team can learn a lot from their success.
Check it out: https://bitcointalk.org/index.php?topic=264182.0
It's important to give out frequent rewards. Daily earnings work best.
The price for MCXnow fee shares was $10 each. The Bitcointalk thread can also help you to structure your Bitcointalk announcement in a similar fashion so that you can get maximum traction. Realsolid was brilliant at marketing his initiative.
-
first day of the fundraiser!
WOW - we already sold 10.5 BTC in METAFEES or roughly 5% of our goal of 200 BTC so thank you for your support and trusting monsterer and me.
we will be available tomorrow on the mumble server for a question round on 8pm CET. We will try to record it and make it available later.
So if you are interested and have questions for us come tomorrow.
I'd like to buy some but still having the issues with importing my wallet. It says there is no balance and they haven't yet upgraded the web wallet to use the bloom filter mechanism yet have they?
This isn't the first time something like this has happened. MCXnow had used a similar business model too so your team can learn a lot from their success.
Check it out: https://bitcointalk.org/index.php?topic=264182.0
It's important to give out frequent rewards. Daily earnings work best.
The price for MCXnow fee shares was $10 each. The Bitcointalk thread can also help you to structure your Bitcointalk announcement in a similar fashion so that you can get maximum traction. Realsolid was brilliant at marketing his initiative.
luckybit thanks for the advice and feedback!
we are aware of the problems thats the reason we set the days to 60. After our integration is done, the METAFEE sale will be possible with BTC, NXT and ETH as well.
I like the ANN of MCXnow, but i hope we can do better - i assume they are not in business anymore?
-
first day of the fundraiser!
WOW - we already sold 10.5 BTC in METAFEES or roughly 5% of our goal of 200 BTC so thank you for your support and trusting monsterer and me.
we will be available tomorrow on the mumble server for a question round on 8pm CET. We will try to record it and make it available later.
So if you are interested and have questions for us come tomorrow.
I'd like to buy some but still having the issues with importing my wallet. It says there is no balance and they haven't yet upgraded the web wallet to use the bloom filter mechanism yet have they?
This isn't the first time something like this has happened. MCXnow had used a similar business model too so your team can learn a lot from their success.
Check it out: https://bitcointalk.org/index.php?topic=264182.0
It's important to give out frequent rewards. Daily earnings work best.
The price for MCXnow fee shares was $10 each. The Bitcointalk thread can also help you to structure your Bitcointalk announcement in a similar fashion so that you can get maximum traction. Realsolid was brilliant at marketing his initiative.
luckybit thanks for the advice and feedback!
we are aware of the problems thats the reason we set the days to 60. After our integration is done, the METAFEE sale will be possible with BTC, NXT and ETH as well.
I like the ANN of MCXnow, but i hope we can do better - i assume they are not in business anymore?
They were a centralized exchange, unregulated, and got shut down most likely. It wasn't because they weren't successful or had a bad exchange, they were one of the top exchanges for a while.
-
I think I made a mistake cause it says that the price is 1.0 BTS per METAFEE but below the red number is 1.503. I want to cancel the order but don't know how.
I see that I placed an order, how can I cancel it? In 'Trade' or in the dashboard/orders? There are no orders in 'Orders'.
You should be able to cancel your order on the 'Exchange' tab in the METAFEES/BTS market, down the bottom of the page it should be shown with a 'Cancel' button.
Thank you
-
I think I made a mistake cause it says that the price is 1.0 BTS per METAFEE but below the red number is 1.503. I want to cancel the order but don't know how.
I see that I placed an order, how can I cancel it? In 'Trade' or in the dashboard/orders? There are no orders in 'Orders'.
You should be able to cancel your order on the 'Exchange' tab in the METAFEES/BTS market, down the bottom of the page it should be shown with a 'Cancel' button.
Thank you
They are around $5 each which is pretty expensive seemingly but do you know how much the MCXnow feeshares went to? They started at around $10 each if I recall, and ended up at $100 each just months later.
https://bitcointalk.org/index.php?topic=264182.0
See the spreadsheet?
https://docs.google.com/spreadsheets/d/1hIAcoV9Bpn87iu5ZhXSWKU6NavnVI3mNx5rIUTYXtJA/edit#gid=0
With Metaexchange it all depends on marketing. If they can do marketing then they'll do well. Their numbers look good so far so with more liquidity and more assets it is likely they'll do at least as well as they do right now. Not having to make an account can appeal to a lot of people also.
To market Metaexchange they will have to show numbers. Show how the "investors" can win. It ultimately will depend on their Bitcointalk launch but I do think 200 BTC is nothing and will quickly be chewed through so buy them while you can.
Realsolid raised $100,000 and people kept buying from each other even after he sold out. The Metaexchange team is only raising $60,000 but that is why theirs is around $5 a fee share.
-
Not having to make an account can appeal to a lot of people also.
This. It keeps things simple and fast, everything a costumer wants. Logins require having to handle passwords, mails, etc. This way is much better.
-
I think I made a mistake cause it says that the price is 1.0 BTS per METAFEE but below the red number is 1.503. I want to cancel the order but don't know how.
I see that I placed an order, how can I cancel it? In 'Trade' or in the dashboard/orders? There are no orders in 'Orders'.
You should be able to cancel your order on the 'Exchange' tab in the METAFEES/BTS market, down the bottom of the page it should be shown with a 'Cancel' button.
Thank you
They are around $5 each which is pretty expensive seemingly but do you know how much the MCXnow feeshares went to? They started at around $10 each if I recall, and ended up at $100 each just months later.
https://bitcointalk.org/index.php?topic=264182.0
See the spreadsheet?
https://docs.google.com/spreadsheets/d/1hIAcoV9Bpn87iu5ZhXSWKU6NavnVI3mNx5rIUTYXtJA/edit#gid=0
With Metaexchange it all depends on marketing. If they can do marketing then they'll do well. Their numbers look good so far so with more liquidity and more assets it is likely they'll do at least as well as they do right now. Not having to make an account can appeal to a lot of people also.
To market Metaexchange they will have to show numbers. Show how the "investors" can win. It ultimately will depend on their Bitcointalk launch but I do think 200 BTC is nothing and will quickly be chewed through so buy them while you can.
Realsolid raised $100,000 and people kept buying from each other even after he sold out. The Metaexchange team is only raising $60,000 but that is why theirs is around $5 a fee share.
i totally agree :D
and not to forgot. We don't spend the 200 BTC for our own needs, we run the market we service with them. This means more liquidity for our customers.
The chicken and the egg problem with any exchange is, that without liquidty no one will use you and without users you have no liquidity. We solve this problem with running our own market maker and
provide a base liquidity for our customers.
-
I thought the price would be 1 and not 1000. I now placed an order for 1000 BTS and hope that I soon will own 1 metafees.
-
+uck, the price is 1503 right? Cancel again :-D
-
+uck, the price is 1503 right? Cancel again :-D
1503 bts per metafee, equal to around $5.
-
So .. why did I pay 1,600 BTS for them yesterday?
Is this USD value tracked?
I don't understand how this price is derived and am surprised that I had to pay a bonus?!
-
So .. why did I pay 1,600 BTS for them yesterday?
Is this USD value tracked?
I don't understand how this price is derived and am surprised that I had to pay a bonus?!
It's following the BTC price of BTS
-
dang .. was searching USD in the OP and haven't seen the actual paragraph .. sorry for disturbing you with this ..
-
dang .. was searching USD in the OP and haven't seen the actual paragraph .. sorry for disturbing you with this ..
No problem - the reasoning for not following USD price is that we are crypto only, and BTC is most liquid market :)
-
I have some now. 0.6 metafees juggler!
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC. We hope to raise 200 BTC in total, pricing each share at 0.02 BTC.
Might be too late now, but why not having 120000 METAFEES at 0.002? Couldn't that attract more people?
-
The METAFEES asset represents the fees we generate from running metaexchange. Each share is worth 0.005% of the fees we generate. There are 12000 in total, 2000 are held by monsterer and shentist and backed with the already existing liquidity of 40 BTC. We hope to raise 200 BTC in total, pricing each share at 0.02 BTC.
Might be too late now, but why not having 120000 METAFEES at 0.002? Couldn't that attract more people?
you mean smaller numbers for each share?
-
Might be too late now, but why not having 120000 METAFEES at 0.002? Couldn't that attract more people?
Thats the same as buying 0.1 METAFEES, which is perfectly possible right now :)
-
We're pleased to announce that you can now buy METAFEES with BTC/ETH and NXT on metaexchange!
https://metaexchange.info/
-
so,
we already increased the liquidity on our markets with the new liquidity and this will go even higher in the future. Thanks so far guys.
-
Just updated the OP with a corrected version of the way the fee sharing is distributed - what we had originally represented only the case where all METAFEES are sold: 50% of our fees divided by 10000, but in actual fact it will be 50% of fees split between the number of METAFEES which sell within in the fund-raising period. So if only 800 sell (as of now), then 50% of fees will be split between those 800 METAFEES tokens.
-
Just updated the OP with a corrected version of the way the fee sharing is distributed - what we had originally represented only the case where all METAFEES are sold: 50% of our fees divided by 10000, but in actual fact it will be 50% of fees split between the number of METAFEES which sell within in the fund-raising period. So if only 800 sell (as of now), then 50% of fees will be split between those 800 METAFEES tokens.
That is huge. I may have to pick up a few more.
-
Blocktrades is charging 0.15% total on the dex.how are you going to compete with them?
-
Blocktrades is charging 0.15% total on the dex.how are you going to compete with them?
we will try to have a tieder spread, but the fees will be higher.
on my personal trading i don't care about .2 or lower, what i want is liquidity and a tied spread to get easily in and out. This will the route we will take.
-
Blocktrades is charging 0.15% total on the dex.how are you going to compete with them?
Our policy is: be first, or be best :)
-
Like the fee sharing, i owned many mcxfees on mcxnow. How often will fee holders get paid, and when will payments start? I just bought a bunch btw 8) 8) 8)
-
Just updated the OP with a corrected version of the way the fee sharing is distributed - what we had originally represented only the case where all METAFEES are sold: 50% of our fees divided by 10000, but in actual fact it will be 50% of fees split between the number of METAFEES which sell within in the fund-raising period. So if only 800 sell (as of now), then 50% of fees will be split between those 800 METAFEES tokens.
+5% +5% +5%
-
Like the fee sharing, i owned many mcxfees on mcxnow. How often will fee holders get paid, and when will payments start? I just bought a bunch btw 8) 8) 8)
thanks for your trust and support.
the payment will be monthly. we are considering to start with them in the next month to show in the timeperiod of the fundraiser how it will works.
it will goes like this (example dates and numbers are following)
1. we will publish on our website November 20th that we made 20.000 BTS ; 0.3 BTC ; 3000 Nxt ; 50 ETH as fees (this will be already the 50% fees)
2. we will ANN that we will making buybacks for METAFEES with this amount in the regarding markets. So as an example we will buyback on the pair METAFEES/METAEXCHANGE.BTC(UIA) shares worth 0.3 BTC
3. let say the lowest seller wants to sell METAFEES for 0.1 each BTC (at the moment we are selling the METAFEES for 0.02 each) and this will occur in every market we provide
4. the seller will then hold METAEXCHANGE.UIA and can convert them instantly on metaexchange.info into BTC, ETH, Nxt (the different share pair is BTS, because it is the native token on bitshares)
this will the process every month or we find something better. we are always open for your suggestions.
One point, the long time holders value will also be increasing because METAFEES are totally backed with the used liquiditypools we run.
-
Very nice. Just bought some more.
-
if you are on reddit consider to upvote this https://www.reddit.com/r/BitShares/comments/3r08ss/annmetaexchange_raises_funds_and_sharing_50_of/
-
We're pleased to announce that you can now buy METAFEES with BTC/ETH and NXT on metaexchange!
https://metaexchange.info/
I got some today with BTC. Everything worked great.
-
We're pleased to announce that you can now buy METAFEES with BTC/ETH and NXT on metaexchange!
https://metaexchange.info/
I got some today with BTC. Everything worked great.
thanks for investing in us!
we are happy that the integration is now done and monsterer can work to get us into the wallet integrated as well.
-
We're pleased to announce that you can now buy METAFEES with BTC/ETH and NXT on metaexchange!
https://metaexchange.info/
I got some today with BTC. Everything worked great.
thanks for investing in us!
we are happy that the integration is now done and monsterer can work to get us into the wallet integrated as well.
I just placed and order for METAFEES in my BitShares 2.0 wallet.
-
we already sold nearly 1000 METAFESS or 10% of our goal. 54 days left for the fundraiser
- the buying into METAFEES with BTC, ETH and Nxt are now available
- we will add a create account function on the needed sites to make new users as fast as possible to bitshares users and investors into METAFEES
- we will place our ANNs this week on the Nxt, Eth and Bitcointalk forums
- we will add the mumble session we already did
what you can expect in the next days?
- we are considering to run the first buyback in November (so the fundraiser will be still available) to show the potential investors how it will be done - depends if the METAEX.UIA can be created. At the
moment we are waiting for the hardfork to let us create the child UIAs for our new assets.
more to come
-
we are considering to run the first buyback in November...
How this will look like? From who you will buy first?
-
we are considering to run the first buyback in November...
How this will look like? From who you will buy first?
1. we will publish how many fees we collected and for how much fees we will buyback
Example: 100 ETH(50% of the total ETH fees)
2. we will say that we will make a buyback on a specific day in a specific timeframe from the DEX
Example: "we will buyback for 100 METAEX.ETH / METAFEES as much as we get METAFEES for 100 ETH
3. the sellers will end with METAEX.ETH and can instantly convert them via metaexchange.info into real ETH or use the METAEX.ETH to trade on the internal bitshares markets
depends if we can create the child UIAs. At the moment it is not possible, because they found a bug, to do it!
-
the audio of our mumble session is now live: https://soundcloud.com/beyond-bitcoin-hangouts/metaexchange-uia-hangout-10-30-2015-s3
-
How this will look like? From who you will buy first?
Post sell limit orders in the METAFEES/BTS market, and we'll buy them up with market orders
-
Was playing around and noticed that it will cost 160 METAFEES to sell 1 METAFEES.
I'm assuming this was not intentional and will be adjusted, is that correct?
-
I see you've fixed that problem, now there appears to be another ...
"core_fee_paid <= fee_asset_dyn_data->fee_pool: Fee pool balance of '1.20000 BTS' is less than the 10 BTS required to convert 0.000400 METAFEES"
-
I see you've fixed that problem, now there appears to be another ...
"core_fee_paid <= fee_asset_dyn_data->fee_pool: Fee pool balance of '1.20000 BTS' is less than the 10 BTS required to convert 0.000400 METAFEES"
Oh dear. What were you trying to do?
-
I see you've fixed that problem, now there appears to be another ...
"core_fee_paid <= fee_asset_dyn_data->fee_pool: Fee pool balance of '1.20000 BTS' is less than the 10 BTS required to convert 0.000400 METAFEES"
Oh dear. What were you trying to do?
the fee pool is not funded
-
I see you've fixed that problem, now there appears to be another ...
"core_fee_paid <= fee_asset_dyn_data->fee_pool: Fee pool balance of '1.20000 BTS' is less than the 10 BTS required to convert 0.000400 METAFEES"
Oh dear. What were you trying to do?
Break all the things. ;)
-
the fee pool is not funded
How does this get corrected?
-
the fee pool is not funded
How does this get corrected?
Can you tell me what you did to generate the error you got?
-
the fee pool is not funded
How does this get corrected?
Can you tell me what you did to generate the error you got?
I got this error just trying to transfer METAFEES to another account.
-
Can you tell me what you did to generate the error you got?
If you try to put a METAFEES up for sale, that's the error that comes up.
-
Doh! My bad man.
The account I was testing with only had 1 METAFEES in it, that's why it was giving that error.
It couldn't cover the transaction fee of .004 METAFEES. :-\
-
Doh! My bad man.
The account I was testing with only had 1 METAFEES in it, that's why it was giving that error.
It couldn't cover the transaction fee of .004 METAFEES. :-\
No, I believe the fee pool was empty. He refilled it an hour or two ago.
-
i think both of you are right!
- if you want to sell you have to have some METAFEES left to cover the fees.
i dont get it why it is not automatic subtracted from the amount i want to sell. It is much more difficult to understand it this way. The wallet will not tell you what you are doing wrong like "You have not enough METAFEES left to place an order" or so.
-
i think both of you are right!
- if you want to sell you have to have some METAFEES left to cover the fees.
i dont get it why it is not automatic subtracted from the amount i want to sell. It is much more difficult to understand it this way. The wallet will not tell you what you are doing wrong like "You have not enough METAFEES left to place an order" or so.
yeah, that's really confusing.
-
some more information!
1.
first you can find an article with us on https://news.bitcoin.com/metaexchange-selling-asset-tokens-profit-sharing/ thanks to Amanda for doing a great job here! She also mentioned us on her show
https://www.youtube.com/watch?v=N1FkP0ECSzA&feature=youtu.be
just a reminder for every METAFEE holder
- we will share every income we will generate 50% with our METAFEE holders and not just the transaction fees
- so if we get in the future referral income we will share 50% as well - at the moment we are promoting the webwallet from openledger with a referral spli 60% (30% liftetimember + 30% referral)
if you are an METAFEE asset holder and dont want to promote on your own, just promote our service and if someone will get a bitshares user you will get your share via the METAFEE buyback
2.
in 1 or 2 weeks we will do our first buyback to show everyone how it will run in the future. This will help to understand better what will happen every month in the future.
-
https://www.reddit.com/r/Bitcoin/comments/3sn38w/the_daily_decrypt_ep29_bitshares_dont_care/ a chance for r/bitcoin to hear about meta
-
Is it ok to send BTC from exchange to buy METAFEES?
or do i need to download bitcoin client send through it?
-
Is it ok to send BTC from exchange to buy METAFEES?
or do i need to download bitcoin client send through it?
It helps to have your own refund address in case something goes wrong with the transfer; have you not got a blockchain.info account?
-
Is it ok to send BTC from exchange to buy METAFEES?
or do i need to download bitcoin client send through it?
It helps to have your own refund address in case something goes wrong with the transfer; have you not got a blockchain.info account?
I can create an blockchain.info account thanks
How can I get a METAFEES address on Openledger? I'm new to this stuff
I created an account on Openledger and I saw METAFEES on the assets page but how do I create an address?
Sorry for silly questions but i'm new to bitshares and don't really know how it works. :D
-
I can create an blockchain.info account thanks
How can I get a METAFEES address on Openledger? I'm new to this stuff
I created an account on Openledger and I saw METAFEES on the assets page but how do I create an address?
Sorry for silly questions but i'm new to bitshares and don't really know how it works. :D
No problem - you just need your account name on Openledger :)
-
I can create an blockchain.info account thanks
How can I get a METAFEES address on Openledger? I'm new to this stuff
I created an account on Openledger and I saw METAFEES on the assets page but how do I create an address?
Sorry for silly questions but i'm new to bitshares and don't really know how it works. :D
No problem - you just need your account name on Openledger :)
Thanks!
btw am I understanding correctly that you distribute 50% of trading fees to shareholders and the other remaining 50% is used to buy Feeshares on the markets. Where does the profit come when you are distributing 100% of trading fees?
-
I can create an blockchain.info account thanks
How can I get a METAFEES address on Openledger? I'm new to this stuff
I created an account on Openledger and I saw METAFEES on the assets page but how do I create an address?
Sorry for silly questions but i'm new to bitshares and don't really know how it works. :D
No problem - you just need your account name on Openledger :)
Thanks!
btw am I understanding correctly that you distribute 50% of trading fees to shareholders and the other remaining 50% is used to buy Feeshares on the markets. Where does the profit come when you are distributing 100% of trading fees?
Nop .. of the 100% fees .. 20% are taken by the network (and get distributed to the shareholders ultimately by being removed from the supply)
the other 80% are given to the referral program .. of which 100%-X% go to the registrar (the guys who payed to registered the account) and %X to the guys who referred you to that registrar (affiliate program)
//edit: dang .. mixed things up .. sorry
-
I think he is asking about the 0.3% fees of Metaexchange.
-
Thanks!
btw am I understanding correctly that you distribute 50% of trading fees to shareholders and the other remaining 50% is used to buy Feeshares on the markets. Where does the profit come when you are distributing 100% of trading fees?
50% of trading fees are used to buy back METAFEES on the open market, thereby distributing our profits to METAFEES holders.
-
I think he is asking about the 0.3% fees of Metaexchange.
Yes my question was concerning Metaexchange.
-
Thanks!
btw am I understanding correctly that you distribute 50% of trading fees to shareholders and the other remaining 50% is used to buy Feeshares on the markets. Where does the profit come when you are distributing 100% of trading fees?
50% of trading fees are used to buy back METAFEES on the open market, thereby distributing our profits to METAFEES holders.
Ok so you basically pay for expenses "from your own pocket" is that right?
-
Is it ok to send BTC from exchange to buy METAFEES?
or do i need to download bitcoin client send through it?
It helps to have your own refund address in case something goes wrong with the transfer; have you not got a blockchain.info account?
I can create an blockchain.info account thanks
How can I get a METAFEES address on Openledger? I'm new to this stuff
I created an account on Openledger and I saw METAFEES on the assets page but how do I create an address?
Sorry for silly questions but i'm new to bitshares and don't really know how it works. :D
hi Lollero,
thanks for your interest in bitshares and metaexchange.
so you created your bitshares account if i understand it correct
at the moment you can buy METAFEES via metaexchange.info
send BTC, ETH, or NXT directly and get your METAFEES into your bitshares account. In bitshares you do not need an address. Everything is handled with your accountname.
if you have still questions let me know.
-
50% of trading fees are used to buy back METAFEES on the open market, thereby distributing our profits to METAFEES holders.
Ok so you basically pay for expenses "from your own pocket" is that right?
[/quote]
50% fees go to METAFEES holders, 25% go to our referral partners, 25% goes to us to cover costs :)
-
i picked up some metafees, i think this is a good concept and a great model for how feesplits should be done in the future,
we will probably take note of your method here and use something similar in the future, hope you dont mind :)
-
i picked up some metafees, i think this is a good concept and a great model for how feesplits should be done in the future,
we will probably take note of your method here and use something similar in the future, hope you dont mind :)
+5%
-
Any updates when you will be doing an announcement on bitcointalk?
Are there other marketing plans?
-
Any updates when you will be doing an announcement on bitcointalk?
Are there other marketing plans?
we will announce on friday the first buyback (when, how much etc.). The first buyback (showcase) will be down on sunday, exact timeframe we will post on friday. after the first buyback, we wrap everything together and post on bitcointalk as well.
-
Helping spread the word with a short METAFEES (http://bitsharesblog.com/user-issued-assets-metafees-and-obits/) blog post.
-
When are you guys doing the first trading fee distribution to Metafees holders?
Do you distribute only BTC trading fees or do we also get altcoins deposited to our accounts?
-
Hi @monsterer !
We just add your project METAFEES to our crowdfunding Radar - https://cyber.fund/radar (https://cyber.fund/radar)
If you want to improve information about METAFEES just go to Github (https://github.com/cyberFund/chaingear/blob/ba25a2fb622aa1935307f399941ba794bae36e0d/sources/METAFEES/METAFEES.toml) and make a commit)
We'll be glad to help you to make your crowdfunding campaign more successful :)
-
When are you guys doing the first trading fee distribution to Metafees holders?
Do you distribute only BTC trading fees or do we also get altcoins deposited to our accounts?
today the first buyback occurs. The first buyback will occur for 100% of all collected fees - more details here https://bitsharestalk.org/index.php/topic,20150.0.html
-
When are you guys doing the first trading fee distribution to Metafees holders?
Do you distribute only BTC trading fees or do we also get altcoins deposited to our accounts?
today the first buyback occurs. The first buyback will occur for 100% of all collected fees - more details here https://bitsharestalk.org/index.php/topic,20150.0.html
I am aware of the buyback. I ment when is the first distribution of the trading fee profits?
I'm assuming that today you are buying metafees with last months trading fee profits but are not yet distributing trading fee profits to metafees holders. I'm just wondering when that happens?
-
I am aware of the buyback. I ment when is the first distribution of the trading fee profits?
I'm assuming that today you are buying metafees with last months trading fee profits but are not yet distributing trading fee profits to metafees holders. I'm just wondering when that happens?
The buy-back *is* the redistribution of trading fee profits. By placing market buy orders on the open market, we raise the value of METAFEES using the profits we generated via the fees.
-
I am aware of the buyback. I ment when is the first distribution of the trading fee profits?
I'm assuming that today you are buying metafees with last months trading fee profits but are not yet distributing trading fee profits to metafees holders. I'm just wondering when that happens?
The buy-back *is* the redistribution of trading fee profits. By placing market buy orders on the open market, we raise the value of METAFEES using the profits we generated via the fees.
Where are these buy back orders? shentist said they would appear here (https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC)but there are no buy orders at all?
-
I am aware of the buyback. I ment when is the first distribution of the trading fee profits?
I'm assuming that today you are buying metafees with last months trading fee profits but are not yet distributing trading fee profits to metafees holders. I'm just wondering when that happens?
The buy-back *is* the redistribution of trading fee profits. By placing market buy orders on the open market, we raise the value of METAFEES using the profits we generated via the fees.
Where are these buy back orders? shentist said they would appear here (https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC)but there are no buy orders at all?
they buy at current market offers.
edit: join us @ 0.079 if you want
-
I am aware of the buyback. I ment when is the first distribution of the trading fee profits?
I'm assuming that today you are buying metafees with last months trading fee profits but are not yet distributing trading fee profits to metafees holders. I'm just wondering when that happens?
The buy-back *is* the redistribution of trading fee profits. By placing market buy orders on the open market, we raise the value of METAFEES using the profits we generated via the fees.
Ok I thought you were doing both, giving a share of trading fees and doing the buy-back. Ok all is clear now :)
Am I right that you will be burning the Metafees that you buy each month?
-
you can find our ANN on bitcointalk here https://bitcointalk.org/index.php?topic=1266571.0
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?
How did they lose money?
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?
How did they lose money?
https://bitsharestalk.org/index.php?topic=20759.0
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?
How did they lose money?
nope. they get it back form the buyers.
I wonder why they do not pull the price off of the DEX?
cmc, really?
-
so guys 1 day left till the fundraiser ends.
you can still buy the METAFEES via BTS on the internal market or via metaexchange.info with BTC, ETH and NXT.
We will do the next buyback after the chrismas days, but not sure about the exact date yet.
We wish everyone the best
Your metaexchangeteam
monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?
How did they lose money?
nope. they get it back form the buyers.
I wonder why they do not pull the price off of the DEX?
cmc, really?
Didn't get it all back, they still lost a few bitcoins.
-
A little of topic.
Is there a way to get ETH from Poloniex to METAEX.ETH direct?
Poloniex does not have a data field.
-
A little of topic.
Is there a way to get ETH from Poloniex to METAEX.ETH direct?
Poloniex does not have a data field.
Unfortunately not. I'd like to make this simpler in the future.
-
Pity just bought some ETH to start trading on the DEX