Note: This article is not only a great use case example it is also the unveiling of one of our improvements to the asset layer. The ability to lock funds into an asset and have it unlock based on block number or timestamp.
NO!
It feels pretty good to be able to write a rebuttal to Google!
As far as Raptoreum is concerned, futures trading no longer requires exchanges, which is a giant step back in the right direction for redecentralising the Blockchain space in general and RTM in particular.
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On the RTM chain it will be possible to add coins to an asset that are locked for X number of blocks.
So the miner who’d like to stay on the chain but has some bills that need covering now can issue an asset using some of his accumulated coins. He chooses to issue an future token/asset worth 10k RTM locked for 44000 blocks (a month at 1440 blocks a day).
Details of the amount and lock will be available in the assets ipfs. This asset can now be freely traded otc or on an exchange.
Once the RTM contract layer kicks in, DAPPS can be developed to facilitate a fully decentralized futures market. Till then this is a fully client side transaction.
Upon expiry of the lock, a transaction will be released and the locked coins become available in the asset holding wallet.
Exchanges are and always will be necessary as fiat on and off ramps for cryptocurrencies. However, value regulation like futures/future like trading does not need to be bound up on exchanges. In fact, this is technically a wholly different form of futures trading as delivery occurs upon receipt of the token but access isn’t possible till.the lock expires.
This will help growing a robust, redundant and fungible network that will slowly remove some of the volatility from the crypto sphere. Removing volatility in and of itself is not a goal of adding the futures tokens / assets.
The main goal is to assist in stabilizing earnings for miners who will otherwise be very much at the mercy of day to day markets. It adds a secondary speculative layer to regular trading that locks up a percentage of the available coins assisting in reducing oversupply situations.
This goes quite a bit further in demonstrating Raptoreum’s solid commitment to CPU/GPU miners being an essential part of the ecosystem. Their function in securing a network needs support not centralization via ASICs, FPGAs or NiceHash.
Locks of significantly longer periods are also doable and will go even further in creating a robust ecosystem for Raptoreum.
Bigpiggy01
