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https://www.dualthegame.com/en/news/2018/04/06/new-build-preview/ Big features like scanning, mining, markets and money are coming along with some changes for engines (vboosters may have been a tad overwhelming). This tells me NQ have been very busy behind the scenes this year What are your thoughts on the next build?
ALIOTH FIRE OFFICE Fidnetia! My name is BandaTalk. I am the general partner of the Alioth Fire Office and the owner of BandaTalk’s Coffeehouse. The ALIOTH FIRE OFFICE is an asset management and financial services firm organized as a private limited partnership. The AFO is primarily devoted to serving the shipping/hauling and commodities/mining industries within the DU. AFO is NOT a bank and will NOT accept deposits and will NOT participate in any form of commercial, retail or private banking. I would ideally like to work with the DU equivalent of “accredited investors”, meaning those of high net worth and institutional investors, meaning other organizations. This would be a means of protecting my reputation, as hopefully I’d be seen as not wanting to prey on new players or quote-un quote “stupid people” and am only interested in managing investments in a safe and complex way, which allows the parties involved to see a return regardless of the overall state of the economy. If this sounds like a hedge fund, that is intentional, I was going for that. Hedge funds are the real world version of an unregulated investment fund, which is perfect for an unregulated world like Dual Universe. The AFO would be set up as a private limited partnership, with me as the general partner, meaning I would assume sole responsibility for the AFO liability in the case of default or other credit event. Limited partners would be able to remain anonymous if they choose. I, as the General partner, would receive 2% of total assets every year and 20% of profits for each successful investment (which would primarily be bond issues). This is identical to a real world hedge fund and is intended to increase trust in the fund’s manager as they have a huge stake in the fund’s success. I’d also, invest large portions of my own private wealth into the fund. Limited partners would receive a monthly dividend TBD also based on the profit of a successful investment. I foresee, it being difficult to attract limited partners as trust is a premium and y’all don’t really know me yet. This is okay, I don’t really trust you guys either yet, but I hope to work and build trust with you over time as we get to know each other. Limited partners would be able to withdraw the principal of their investment at anytime. Some of you may know a little about the MD and the financial industry in Eve Online, particularly the activities of players like Hexxx, Angelica Everstar, Grendell, and Chribba. Hexxx, for example, sought to recreate re world financial institutions with in game analogs, such as EBANK, which utilized a fractional reserve system similar to that of real world banks. The problem with this is that the world of New Eden in Eve Online and by extension the future of world of Dual Universe, are unregulated economies in which scams, market manipulation and money laundering are all common place and accepted. This is offset in several ways by employing trustworthy individuals such as Grendell and Chribba, who hold collateral as a security against default. Again, a problem with this is the nature of collateral, what you can and can’t put up as collateral, what the value of the collateral is and how liquid the collateral is. An example of hedge scam (or strategic default, depending on how you look at it) occurred in Eve, in which a collateralized loan (which was more of a bond issue as it took money from multiple investors and not from a bank) with monthly interest was put up, Grendell verified the collateral and its value (at over 100%) and the loan was deposited in the player who took out the loan’s account. The first round of interest was paid out and everyone was satisfied. The second month deadline passed and people who had put their money up for the loan started to question where their interest payments were. After a while longer, the player who took out the loan informed his investors of his intention to keep the principal of the loan and stop all future interest payments. This left Grendell with the responsibility to pay back the principal of the loan using the collateral. Unfortunately, the collateral put up was overvalued by Grendell due to it being a cheaper commodity, whose price sinks significantly when sold in large quantities. Grendell then asked the investors if they would prefer to receive the collateral itself as payment or who prefer that he liquidate it and pay them in cash. They decided on a half/half solution, in which half would be paid in the collateral itself and half would be cash proceeds from the sale of the collateral. You can find the record of this event here: https://forums-archive.eveonline.com/topic/470872/ My solution to this is bond insurance, which would shift the liability from the bond issuer to the insurer in exchange for a premium, allowing them to issue bonds without any collateral and guarantee that the investors would receive their entire principal in full in the event of default or other credit event. This would involve the insurer either putting up collateral which would be verified by a trustworthy third party or by having a verifiably large cash reserve, either allowing them to pay out the insurance in the event of a default. The insurer would able to hedge their risk by purchasing reinsurance (or a credit default swap, which would be different in that the buyer of the CDS wouldn’t have to disclose all the risks involved, whereas with reinsurance, they would), at a slightly lower premium than what they are receiving from the bond issuer, and the reinsurer would be able to continue the chain by buying their own reinsurance and so on, only stopping when a party decides that the they think the bond issuer won’t default and they can walk away with a profit in premiums. An example of a bond issue would be as follows: Q5,000,000 worth of fixed rate corporate bonds with a nominal 2.8% monthly coupon, actually 1.8% monthly coupon after insurance, at 6 month maturity are purchased. This means Q90,000 is paid in interest monthly. The issuer would charge a 1% monthly premium (premiums would fluctuate and be based on the probability of default as determined by the insurer) taken from nominal 2.8% on the bond. The insurer would also charge a 2% service fee with every premium payment on top of the premium. Each monthly premium payment would be the equivalent of Q50,000 plus Q100,000 as the fee. 1% would paid to the third party service out of the 2% service fee to the insurer. In the event of default, the insurer would be able to do pay the entire principal back to the holders. The Insurer would have to have at least 110% of the value of the bond issue in reserves to pay out principal in the event of default. Collateral from the insurer would be secured by a trustworthy third party if possible. Collateral would have to have high liquidity as confirmed by the third party. Any excess in assets above the collateral requirement would potentially go towards buying bonds issued, though this is capped provisionally at 20% of the value of the bond issue, another means of hedging risk. The Insurer would buy a Q5m or Q4m Credit Default Swap with a monthly premium of 1% from another bank. If the issuer defaults, the insurer pays out the principal on the bond, then receives Q5m from the CDS, making around 1% if the issuer defaults. The users in this system would be as follows: The “Issuer” is the party who is seeking investment and which works with the BIHF insurer to conduct the bond issue. The “Insurer” is the party which assumes the liability for the bond. The “Third party” is a trustworthy individual who secures the collateral during the bond issue. The “Holder” is the party which owns the bonds and which is entitled to the principal being paid back. The “CDS Writer” is the party that sells the CDS to the Insurer, who is hedging their investment. The hedge fund-like part of my business plan would be called the AFO Bond Assurance Master Fund (AFOBAMF). AFOBAMF would have investments in bond insurance, with protections in the form of purchased CDSs and/or reinsurance, commodities, real estate, stocks, bonds and collectibles. The other part of my business would be a Mineral Reserve, which would buy minerals at low prices before the inevitable MMO inflation and collect minerals through direct mining. This mineral reserve would act similarly to how gold reserves backed currencies during the gold standard era. It would the basis of the AFO’s wealth. For example, on day one I’d buy 3000 units of gold ore at Q3000, for a total value of Q9,000,000. As the price rises the result will be completely profit. The AFO’s real estate properties are planned to include AFO headquarters on the Sanctuary Moon and BandaTalk’s Coffeehouse in Tortuga City. You can join by clicking on the links below: https://community.dualthegame.com/organization/alioth-fire-office https://community.dualthegame.com/organization/bandatalks-coffeehouse Discord: https://discord.gg/Tx8RTSY
Hello fellow adventurers! We all embarked together upon a perilous journey into the great unknown on that day which we boarded the Ark ship. Now, to those among us who dare to press forward into this uncertainty with a mind open for opportunity, we find ourselves in need of a bold and ambitious mission in this brave new world. The Cranberry Collective is that mission. Founded to embrace the great burden which faces our kind, our members share the weight of building a new world. A Corporation, a Collective, a kindling of hope for humanity; we are the Cranberry Collective, apply today! Community Portal Page Official Website Discord The Cranberry Collective A Corporation founded around the ideals of building and managing open and fair marketplaces, while working to stock those markets with the latest in proprietary Technologies. Aspiring to build a full vertical supply chain by embodying the ideals of hard-work, fair-trade, and self-sufficiency; while encouraging mining, construction, economic prosperity, development and research; all through corporate and community goals which push us to advance the universe beyond what any of us could aspire to do alone, sharing the profits of these endeavors in accordance to merit. Meanwhile assuring that we serve our customers while supporting our members. The Collective consists of four major divisions whose operations are overseen by Co-founders TekNiX and Tale Avery. Each of these divisions represent one of the major undertakings involved in pursuing our corporate directives, developing over time as our needs and capacities change; all the while the managers in charge of these divisions will find themselves increasingly responsible for the operations and direction of the collective. Applications need not specify a preference during open recruiting. The four divisions to consider are: Science Core The Science Core is the center of our Research and Development efforts. Working together in project teams, members of the Science Core will work on the development and practical applications of the most modern technologies available to the Collective. Science Core members will be responsible for designing the cutting edge equipment necessary to stock our markets and give us the upper hand in space. Planning Commission The planning commission represents the finest visionaries the Cranberry Collective has to offer. Planning projects and preparing reports, the Planning Commission determines the path we take as we chase down our primary directive. If you think you have an eye for shaping the galaxy, market positioning and company strategy, bring your big ideas to the table. Production Council The Production Council houses a collection of the most skilled artisans in universe. Serving the Cranberry Collective by performing the most fundamentally demanding tasks the universe imposes upon our organization. Building and mining are the key to making our goals a reality and the Production Council will play a pivotal role in organizing and rewarding all members of the collective as they participate in these crucial fields, while serving as a bastion for the most skilled and dedicated craftsmen. Red Guard The Red Guard encompasses the security forces of the Cranberry Collective, defending our facilities and supply lines while maintaining the peace in Collective territories. Every member of the Red Guard is trained and equipped to the highest standards of the Collective, providing an exciting opportunity for all those who apply. The Red Guard needs recruits who will demonstrate their skill and grit everyday as they fight for the security of our members and territories. The collective will rely on the Guard for protection, and they must be a formidable presence if they are to ward off our most aggressive rivals well holding the agents of chaos at bay. For more information on these divisions and the roles their members will undertake, visit our website! The Primary Directive Currently we are in open-recruitment, meaning that we are looking to recruit all manner of players to our cause so long as they are enthusiastic, well meaning, future players of Dual Universe. With the game's release date still so far away we plan on filling the time getting to know each other, detailing our strategy, and sharpening our skills by playing MineCraft and other group-games as a Collective. However, we encourage you to join us across all platforms; many of our members are already regulars on steam, blizzard, and curse game communities, playing everything from Elite: Dangerous and Counter Strike, to Overwatch, TitanFall 2 and WoW. Once the game is released, we will use what we have learned from the Alpha and Beta tests to begin establishing a corporate headquarters which will evolve into our first market-place. Once we have established this public market place, and a supply line for the most sought after goods, we will begin to expand to new locations and technologies, continually working to better fill the needs of every citizen in the galaxy. Become a founding member of the Cranberry Collective to join in the adventure and share in the profits from day one! Apply Today and Join the Visionaries Who Compose The Cranberry Collective.
Hi Everyone, This is my first post here, and like many new people here, I discovered Dual Universe through the E3 trailer this week. I'll go ahead and apologize ahead of time for this lengthy post. I originally came to the forums with questions about the Market system, how the economy would scale, what kind of features the market will provide, how the market system would be secured against counterfeiting (which in this case would be cheating, hacking, etc), if there would be competing currencies and if there would be a Real Market Trading (RMT) system put in place to allow people to profit from their gameplay in much the same way that Second Life or Project Entropia operate. For the most part, my questions were answered by simply reading around on this forum. So it's a nice feeling knowing that other people have the same concerns that I do. From what I've gathered, there will be no RMT system (aside from being able to pay for your subscription using an ingame tradeable item, like PLEX in Eve Online), and there will only be one universal currency (to keep things simple). Without getting into the details of the different types of markets that will be available, how they are created, how goods are moved, etc. (gameplay mechanics) , I'd like to focus this discussion more on the features that one might expect from a digital sandbox market (or markets), and how that can be accomplished securely from a technical perspective. Which leads me into Open-Transactions. My Background Full disclosure here, I was formerly a developer working on Open-Transactions, however I'm not currently involved the project anymore. I contributed about ~200k lines of C++ to the project over 3 years, but I don't measure success in terms of lines of code, I just want to be as transparent as possible. I originally became involved in the project due to my interest in trading digital currencies through exchanges like MtGox or BTC-E, and my interest in bringing those types of technologies into a market that would naturally embrace them, Video Games. To be clear however, I'm not advocating in any way through this post that Dual Universe adopt Bitcoin or any other Cryptocurrency. There are too many issues to consider before even taking on that task, and there's little benefit from doing it other than to have an easy avenue for RMT. None of this discussion has anything to do with Bitcoin other than they both use Cryptography to accomplish their goals. I don't profit in any way from Open-Transactions anymore, as I no longer work with any of the companies that use it. I have no stake in any of the companies currently using it either. I'm the Lead DevOps Engineer for the company I work for now, and OT has nothing to do with our products in any way, nor do I ever see it becoming relevant in my current day job. My only motivation in making this post is that I see a need that can be filled in a way that benefits both Novaquark and prospective players of Dual Universe. What is Open-Transactions? http://opentransactions.org/wiki/index.php/Main_Page https://github.com/Open-Transactions/opentxs/ Open-Transactions is a financial digital contracting system (software library) that was original developed to allow for gold to be traded on an international federated digital market securely. It (and its forks) has been used in many ways, from handling mobile payments sent through the postal service for Tunisia, to being used as the market backend for OpenSim (an open source clone of Second Life). Right now there is even discussion taking place involving using it as a contracting platform for Texas's state gold depository (which is currently in development, with the end goal of establishing a state-backed currency). It is open source, written in C++, and was originally developed by cryptographer Chris Odom. If you don't want to read through all of this, you can get a feel for what it provides based on his own presentations here: Open-Transactions (or OT as I'll refer to it from here on) can be seen as "PGP for Money", or rather, a suite of encryption tools that come together to create a secure market platform suitable for virtual currencies (hence the emphasis on Bitcoin in many of the discussions about it). It is built on the principle of Ricardian Contracting, as outlined here: http://iang.org/papers/ricardian_contract.html To summarize for those that don't want to read that whole page: "A Ricardian Contract can be defined as a single document that is a) a contract offered by an issuer to holders, for a valuable right held by holders, and managed by the issuer, c) easily readable by people (like a contract on paper), d) readable by programs (parsable like a database), e) digitally signed, f) carries the keys and server information, and g) allied with a unique and secure identifier." - Ian Grigg Better summarized as, "The Ricardian contract is a means of tracking the liability of one party to another when selling goods to each other". It is also the core principal on which things such as OpenBazaar use to operate securely. Open-Transactions provides, what the developers like to call, censorship resistance. In that all of the features that were created for it follow the principle that an asset issuer (a bank, a game company, the post office, whoever), cannot modify the account balances of its users. Nor can an asset issuer prevent a user from being able to transfer ownership of their own assets to whomever they want. Hypothetically speaking, this means that if I were to have a bank account operated in this system, the bank would never be able to alter my balance (empty my account) without my explicit manual approval first. Or, in the case of a Bitcoin Exchange, an exchange wouldn't be able to steal my Bitcoins and disappear randomly one day. Because of the cryptographic proofs involved, there are also inherent protections in place for the asset issuers as well. Such as the inability to counterfeit assets (cheating, hacking, duping, etc. in terms of Dual Universe), or users altering their own account balances fraudulently. No more money could be introduced into the economy than the issuer of that currency would allow. Whether that's (just throwing a name out there) 100 intergalactic credits, or 100 trillion. This doesn't necessarily require the use of a massive database storing all of those account details either, as those details are part of the digital contracting system that tie the whole platform together. To list just a few market features that OT provides: - Transfers: An atomic movement of funds from one account to a different account, like a bank account-to-account transfer. - Cheques A payment which is not deducted from the sender's account until the recipient claims it. - Vouchers: A payment which is deducted from the senders account at the time of creation. - Invoices: A payment request which the recipient can opt to pay from any of his accounts. - Cash: Anonymous cryptographic tokens which can be securely redeemed by the recipient without revealing the sender. - Market Offers: Open agreements to exchange a given quantity of one instrument type for a given quantity of another instrument type. - Smart Contracts: Customizable agreements between multiple parties, containing user-defined scripted clauses, hooks, and variables. - Bearer Securities (Bonds): The negotiable instruments created by Open-Transactions can be used as the basis for financial products such as loans. - Stocks What are the benefits? For Novaquark: - Leveraging Open-Transactions, Novaquark would be able to create a sandbox market platform that provides many real-world features that users might expect. - They would also be relying on a financial platform that is used in the real world for holding real assets (gold, silver, dollars, swiss francs, etc.), without having to develop one completely from scratch for virtual assets. This includes potentially over a billion dollars worth of gold bullion that the State of Texas may soon be repatriating. - OT is still under constant development from cryptographers worldwide, and Novaquark could see their market platform as more of an open-source shared library to interface with rather than a whole subsystem to develop independently. - If Novaquark ever decided to pursue RMT features, OT provides ways of making that work. Both on a technical and a regulatory level. - OT is completely free. If Novaquark decided to fork the project to work on internally to suit their own needs, they certainly would not be the first company to do that. For Players: - Users would be able to rest assured that no item duping could ever cause the value of their assets to drop drastically. - Stock markets for our ingame player-run corporations. - Ingame nations/guilds/whatever would be able to issue bonds backed by their own ingame assets. - Smart Contracts. Players could write up contracts that are self-executing depending on outside events. To get into why this is useful goes way beyond the scope of this post, but a quick google search for "Smart Contracts" should provide you with more than enough use cases. - Player-run banks. In the scope of OT these would be referred to as "asset issuers". Not sure if this really fits into the scope consider that there doesn't seem to be a huge push from players regarding competing currencies. - Cheques. Anyone who uses a Cheque from day to day knows why these might be useful to players. - Cash. The option of being able to transfer vast amounts of money by having to fly cargo containers full of cash somewhere sounds intriguing, although I'm sure many would disagree with me here. - Users would be protected from an overzealous Novaquark employee modifying their account balances without their permission. I don't mean to point fingers here prematurely, but it has happened in other games and is always something that could happen. - For the programmers among us, we can audit the source code of OT and any improvements we make to it would be seen by all of the people who use it. Okay, but what about the negatives? - OT is not a simple platform to use. It was built by cryptographers for cryptographers, and I don't mean to knock on Novaquark in any way by saying this, but game developers are not necessarily the most versed in cryptography as opposed to someone coming from a financial background working on Wall St. I'm confident Novaquark's developers are extremely competent, but this may be new territory for many of them. - OT can be bloaty. The shared library size is quite large on its own, I don't want to think about what the static library size looks like nowadays. - OT is peculiar about the way it stores its data on filesystems. This may not work for everyone, however people have written their own storage engine implementations for it. One of my last OT related projects was building a HyperTable backend for it. - OT is not always intuitive from a developers standpoint. If you come into OT without knowing much about digital contracting, you will be left scratching your head as to what the various API calls actually mean or do. There is a community that is willing to help, but again it's probably not an overnight task. - OT may be way beyond what Novaquark wants to accomplish regarding their market features. From a game development standpoint, not everyone is going to want Stocks or Bonds, and not many people have the time to figure out how to use Smart Contracts (or what to even use them for). - Dual Universe's pre-alpha likely already has a market implementation, and (I don't know why you would even do this) if the system wasn't developed with an abstract interface in front of it, it may be extremely difficult to swap out one subsystem/service for another. - OT is not currently multithreaded across the board, although it's on the roadmap the last I checked. I don't anticipate it will be for several more years. Summary If you've gotten this far, thank you for taking the time to read what I've written up here. I know that there's not a very good chance of Novaquark even seeing this post, let alone taking it seriously, but I believe that OT can fill a gap for them that no other piece of (free open source) software can currently provide. I also believe that even if Novaquark doesn't use OT, that they should consider implementing some of the features it would otherwise provide; such as Checks, Bonds and Stocks. These would only work to supplement the types of gameplay that players are inevitably going to end up doing anyways. For a persistent game on a universal scale, we should have feature-rich markets. I'm not the best at writing these long types of posts, but I look forward to being part of this community going forward from here regardless of the reaction to this first post of mine :-)