As we want to encourage the few occasional traders who trade MKR on bitshares to use OPEN.MKR rather than MKR, we are now freezing the MKR asset. The only way to redeem your MKR after it has been frozen is to contact us on chat.makerdao.com in channel #bobgate. Once you get your full amount of MKR paid out as MKR on the ethereum blockchain you can then start trading with the Ethereum blockchain on https://mkr.makret/ or deposit to the Bitshares blockchain as OPEN.MKR.

MAKER介绍（英语）：
https://Makerdao.com/
MAKER介绍（中文）：
http://Daibond.info/

TCNY市场：
https://bitshares.openledger.info/#/market/MKR_TCNY
BitCNY市场：
https://bitshares.openledger.info/#/market/MKR_CNY

The team behind Maker is now in the process of branding ourselves as a company with a business model similar to Cryptonomex - we call ourselves Nexus and will focus on dapp development and development as a service. Our whole team went to the Blockchain Summit in Shanghai and I wrote an update about the trip today:

https://forum.makerdao.com/t/blog-draft-nexus-report-shanghai-global-blockchain-summit/315

The one thing I didn't include in the update (as this is still a very new idea) is that Nexus plans to also focus on the opportunities within the BitShares ecosystem as a part of our business model that we'll use to sustain ourselves on the road to deploying Maker and accomplishing other of our long term goals.

Among things we're considering are: Making a worker proposal in exchange for products that will improve the value of BTS, and making a registration and referral funnel. We're still just exploring the various opportunities, and as a part of that me and possibly some other Nexus members are planning to hold a hangout in the MKR room on the beyond bitcoin mumble server this afternoon 3 pm east coast time (9 pm european time) to hear the communities thoughts regarding worker proposals and what kind of products we can offer the BitShares community.

If you have any questions or suggestions feel free to write here as well, I'll try to respond before the hangout, or answer during the hangout.

(I just love large pictures in forum posts )

I'm excited to announce that Maker's primary asset, Makercoin (MKR), is tradeable as a UIA on the BitShares exchange. The name of the UIA is MKRCOIN, and it is managed and kept liquid by a trusted market maker. At a TBD point in the future it will be possible to redeem MKRCOIN for the ethereum-based Makercoin (MKR) token 1:1. Alternatively they can be kept on the BitShares blockchain long term for trading with the BitShares infrastructure (we're expect BitShares will end up as one of the primary exchanges of Maker assets).

The 50,000 outstanding MKRCOIN are backed by a single lot of 50,000 real ethereum-based MKR that MKRCOIN's issuer owns. This corresponds to 5% of the total 1,000,000 MKR in existence, which currently has a market cap of 2-3 million USD based on our public sales. A multisig contract on Ethereum will be used to ensure that the 50,000 MKR are locked until they are redeemed by MKRCOIN buyers. I will personally be the buyer of last resort with my own MKR holdings, and thus ultimately guarantee, the 1:1 convertability of MKRCOIN for MKR.

MKRCOIN will also be used for the planned sharedrop that is happening next friday on the Beyond Bitcoin show! 30 mins after Bytemasters hangout ends (11:30 AM EST) I will begin to hand out MKRCOIN to every person who's present with a valid BitShares account (so you won't even need to install/learn Ethereum to get the sharedrop). The size of the sharedrop will depend on the amount of people that show up, but we are planning to give 30 MKRCOIN per person. After the sharedrop me and Toast will explain and answer questions about Maker, MKR, DAI, eDollar, our plans related to BitShares and anything else people might be interested in.

Maker is a Decentralized Autonomous Organization on Ethereum (initially) that we describe as an Autonomous bank and market maker. It regulates the issuance of DAI bonds, which are yield-paying cryptobonds that are collateralized by assets on the Ethereum blockchain, and that are insured against collateral crashes by Maker (and the market cap of MKR). To learn more you'll have to read the DAI whitepaper on our website: https://Makerdao.com/ , or you can ask questions and I'll try to explain things better here in this thread. Ultimately Maker is an extremely complex system and there isn't any accessible educational material yet. We hope things like the live Q&A on the Beyond Bitcoin hangout will present a new avenue for learning about our system.

The project is run by a decentralized team that includes me, Toast, Riverhead and Cass. There's also several angel investors and traders involved as well as developers from the Ethereum community and a marketing partnership that will soon be announced. In addition to the walls of text in our whitepaper/forum, one of the of the most interesting things we have to show so far is Toast's livecoding sessions where he shows off the Ethereum programming language Solidity, and the dappsys smart contract architecture that Maker is being built with. https://www.livecoding.tv/toast/ (prerecorded streams can be watched again, and new streams are every weekday from 10AM to 11AM EST)

More information can be found on our forum and our website, and I'll try to answer any questions in this thread over the coming days while gathering the best ones for the Beyond Bitcoin hangout

Hey everyone

As I've written before, we unfortunately had about 30% of our CFS asset funds as BTC the moment the bter hack happened. As a result these BTC have been converted into BTC-B, an IOU that is meant to be redeeemable for real BTC in the future, based on bter's income on trading fees.

We've now opened the buyback of CFSGOLD at the price of 0.7 bitgold per CFSGOLD, so people can get their share of the free bitgold back. We're also going to distribute the bter IOUs once they start paying out - if they pay out in full it should mean that all investors will have received approximately the full amount of what they put into CFSGOLD, not accounting for exchange rate swings in the gold and btc price. We will distribute this BTC based on a snapshot of CFSGOLD holders at block number 2000000, so remember to not delete the accounts you have that held CFSGOLD until the IOU has been paid out, or you will lose the funds.

The hack was really bad for bitshares and especially bad for cryptohedge, but I'm glad that we got most of our money back and I'm optimistic that the bter IOU will also pay out some amount of money, perhaps even the full amount.

Hello everyone,

Metaexchange and Cryptohedge have been working together for the past week to integrate Cryptohedge as a bitUSD liquidity provider, and we are now ready to unveil the Metaexchange bitUSD bridge. This bridge is jointly operated by Metaexhange and Cryptohedge, with Metaexchange providing the platform and service, and Cryptohedge providing liquidity from our CFSBTC and CFSUSDA funds.

The goal of this service is to make it as easy as possible to instantly get into the bitshares decentralized exchange and start trading. The plan is also to use the API to integrate it directly with the upcoming wallet by Elmato in order to enable sending and receiving bitcoins that are automatically converted to bitUSD seamlessly, with high liquidity and low spread, so the average cryptocurrency user can now have easy access to hedged bitcoin account.

Considering the recent release of the web wallet wallet.bitshares.org, the decentralized exchange experience will soon be as smooth as any centralized exchange. If you want to check out the service, please go to https://metaexchange.info/ and try it out (also check out the new BTC/BTS instant conversion). Please note that it is still in beta and has low limits and a high spread. It will gradually be improved over time as we optimize it for the best possible user experience.

It pains me to have to ask for more funds while we have client funds outstanding and no idea when, and even how much, it will be possible to pay back.

But the YunBi BTC/BitUSD market is now operational and the market maker bot is ready to create liquidity, but since all of our CFSUSD funds are locked up on bter there's no other way than ask the community for more money. It's important we get YunBi liquid as soon as possible so shapeshift can resume bitUSD service again.

It's hard to say but I do believe that YunBi seem more competent than bter and I don't think we have to fear their cold wallet can get hacked the same as bter's was.

If you want to help fund the liquidity of the bot, then go to the internal exchange and search for CFSUSDA:bitUSD. It is sold like CFSGOLD, 1:1 for bitUSD with a 0.1% fee, and will increase in NAV as the bot makes a profit off market making. Eventually we will merge this temporary asset with CFSUSD once the full situation from bter is understood. We will try to keep a minimal amount of the funds on YunBi, and deposit and withdraw them according to the bots needs.

There will be an early funder reward for CFSUSDA similar to other CFS assets, but since the bter hack made everything a lot more complicated we won't announce what the reward will be until we know the outcome of the bter situation.

Meanwhile we will continue to work on how to get the CFSUSD and CFSGOLD funds out of bter and find out the best model for compensating clients.

Hey guys.

Riverhead is working hard at finishing up the hedgebot system that will allow us to offer the super tight spreads for bitUSD and bitGOLD on bter that traders crave. We're also going to have talks with elmato of Bitwallet and Monsterer and Shentist of Metaexchange about how to create a large amount of liquidity for the bitwallet once it releases (we want to have really high limits so you can send or receive up to 25 BTC as bitUSD or bitGOLD at a 0.5-1% fee)

Up until now we have been hedging all our bitcoin exposure using bitfinex leveraged trades. However if we want to really be able to offer the lowest spreads we will need to borrow our BTC directly from the community. We will do this in the form of a new CFS asset, CFSBTC. The idea is that CFSBTC will eventually function as an interest paying gateway asset, however at first it will just reside on the bitshares blockchain as a normal CFS asset like CFSGOLD, and will have a limited sale directly to early funders, manually by private message.

Here's the benefits of holding CFSBTC:

Steady returns from the market making of our HedgeBots: Since we fully hedge all exposure to other assets every time someone buys or sells into our market making walls on bter we are a guaranteed a small return on the difference in the spreads from where we sell (bter) and where we hedge (huobi). This results in a slow but steady income stream that is almost risk free (except in the event of an exchange default). 70% of the gross income from this goes directly to CFSBTC and results in an increased NAV. At issuance, each CFSBTC will be sold for 1 BTC each, but over time they will be bought back at higher and higher amounts as the BTC increase from our market making operations. At first while we are still at low volume this will income and NAV increase will be close to zero, but over time as we get more volume and more markets the return will increase.

continuos buy back/withdraw at any time: For every CFS asset there will always be systems in place to do instant withdrawal of all the funds they have deposited with us at the NAV. If there is large demand within a short period of time there can sometimes be up to 24 hours of waiting as we transfer money from the bots in order to pay back funders.

Early funder perk 150000 CFSCOIN sharedrop to CFSBTC holders: The biggest reason to buy into CFSBTC at this point (in addition to helping bitshares with bitasset liquidity) is the CFSCOIN sharedrop that all early funders get. This sharedrop is compensation for the fact that CFS assets are temporarily more risky than they will be in their final state (when they are insured by the value of CFSCOIN against exchange default risk). We will be releasing a lot more news regarding CFSCOIN and why it will soon become a really desirable investment as it takes on a life on its own as a DAC-coin that lives on the bitshares blockchain and gains 30% of all income earned by all CFS assets.

If you would like to become a funder of CFSBTC in our limited release sale then please send me a PM and you will get a bitcoin address where you can send you investment to, and will receive your CFSBTC at a price of 1:1. There is a minimum limit of 1 BTC to buy in. You will be able to withdraw your BTC again by exchanging your CFSBTC at any time at at least a price of 1:1, and possibly higher if NAV has increased (at first this this will also have to be done manually). At first there will be no fee on deposit and withdrawal, however once CFSBTC becomes a gateway asset that gets issued by a gateway there will be a deposit fee of 0.1%, and the income of this deposit fee will also go towards the NAV of the asset.

Also a short update on CFSGOLD. We're using all the bitgold we collected so far to either make sell and (hedged) buy walls on bter https://bter.com/trade/BITGLD_BTC or do continous buybacks at the CFSGOLD:bitGOLD market on the bitshares exchange (you can go there and withdraw your bitGOLD at any time). Volume has been quite low so far, but we have still made some income since we're still trading at a large spread, and might be able to do our first NAV increase soon. We're considering declaring a NAV increase and moving the buy and sell orders every time NAV increases by 0.1% rather than at specified points in time.

on CFSCOIN sharedrop. There will be a lot more news about CFSCOIN soon, along with a bitcointalk announcement thread and the new cryptohedge.io website. We are still considering when the best time to do the CFSCOIN sharedrop will be. The most important thing is that once the sharedrop is done we need to be sure that the CFS assets are "insured", (i.e. they can ensure all CFS assets stay at their current NAV if one of the centralized exchanges we operate on defaults). This means we will likely do the sharedrop some time after we've seen bitasset volume pick up, and have launched our buy&burn bot, which is the mechanism we will use to increase the price of CFSCOIN from 30% of the income of the HedgeBots so that CFSCOIN has a healthy, liquid market.

Have any questions about Cryptohedge, CFSBTC, CFSGOLD, CFSCOIN? please let me know and I'll answer.