Welcome to a new monthly update about the Overpowered project. We will give you information about the things that have happened in April and a sneak peak into May.
A lot of exciting things are coming and it’s also very important for us to increase the efficiency and usability. A summary of the things in this update:
- OPC & OPCX stakebot
- Overpowered store
- Marketing & awareness
- OPC & OPCX code update
OPC & OPCX Stakebot
We are glad to finally release our OPC & OPCX stakebot to our Discord community. Everyone in our Discord channel has a unique ID which the stakebot connects to a unique OPC or OPCX address. By using a limited amount of simple commands you can control and check your balance. The stakebot displays your total balance and total amount you have earned by staking that balance.
While we have extensively tested stakebot to ensure all balance are as safe as they can be, small things can pop up that still need to be optimal. As the bot is controlled by our developers, we can immediately change things when it’s needed. One such things was obviously the withdrawal fee that we will talk about below. Another issue that is being noted and looked into is the frequency of OPCX stakes. The stakebot system was originally developed to take over OPC staking from third party websites that have done so much harm to it in the past. As such it was designed for a currency with a staking system like OPC and not like OPCX. This causes some issues with the way OPCX performs on the bot and we are optimizing things to help improve this.
Since stakebot’s release, it’s already a great success and we have received a lot of positive feedback. While a masternode still needs a VPS or a third party (shared) masternode service, it’s now possible to stake and keep track of your balance with just being in our Discord server. Discord was originally founded as a voice and text chat application for gamers, so this might come in handy while building an ecosystem around the gaming and streaming community.
Due to the nature of how the stakebot is built, it was necessary to implement a small withdrawal fee (0.3%). This is to secure everyone’s balance, because if there wasn’t a withdrawal fee, someone could theoretically ‘waste’ the whole balance by spamming millions of smal withdrawals. The stakebot eliminates every need to pay for a VPS, staking pool or electricity.
With the release of stakebot also comes the opportunity to grow and strengthen our community, by sharing a few coins amongst your fellow Discord users. Commands like .rain or .soak will distribute the amount of coins of your choice and of course people like to receive, but giving can also be rewarding sometimes. Try it and be part of a growing community!
The long awaited Overpowered store is almost here, the long wait will finally be over soon so we can all experience the pleasure of spending our OPC & OPCX on digital giftcards of all sorts!
While we were working on the front and back end of the store and finishing things up, we have encountered a few situations which will require some extra attention. Our biggest concern is the fact that we are connecting OPC & OPCX directly tot he store which is required to pay fort he cards. This could be an insecure system and the new system will connect the store to a third layer payment processor that we are now developing. The payment processor will be an added layer of protection from any hackers or attempted theft of community funds while using the store system. It also gives us additional leverage power moving forward in making business deals with other potential partners.
In the last month we have our processor online and connected tot he OPCX daemon. From here on we are focusing on coding in the custom functions it needs to be able to perform the actions required when it’s being used. This is a time consuming process and the most boring part that no one likes to talk about. But in the interest of security and community protection a very necessary one we must take. Not only will the processor bring us unique software that most others don’t have, it will also serve as an income source for the Overpowered ecosystem in time. Access can be leased or sold to others who don’t have this software or a team that can build it. This will soon be possible and a lot of time has already been spent to make this a reality. Making a safe and smooth working product, like for example the stakebot, requires a lot of time which sometimes gets taken by side matters we encounter. We try to focus as much as we can to finish things up and give you all what you are waiting for; the Overpowered store!
For your information; the payment processor that’s being developed by our developers is something only about 5 projects have right now. There are third party payment processors, adding a lot of different coins, but they are exactly that, third party payment processors. These come with certain risks, which we don’t want to expose our community to. Safety above all.
Marketing & awareness
An important things for us is awareness. We have a relatively small community and we should get the word out there that we exist. Lots of people haven’t found their way to our project yet. We started out with an article on Steemit that is written by a communication member of our team. By promoting this article, it’s been in the trending list on their platform for a few days already. This post, with information about the stakebot and upcoming developments, has been seen by a lot of people already and should awaken some awareness. We also have a good marketing plan ready for when the store is opening and will connect to some streamers with a big community to draw attention to the store.
OPC & OPCX code update
The code updates for both blockchains are scheduled to be implemented before the end of May. The communication with exchanges didn’t go as fast as we hoped but we seem to have found a hole in their schedule where we can cooperate with the exchanges to update at the same time.
The changes that are scheduled for OPC are:
- Annual percentage rate reduction from 100% to 5%. Controlling inflation will be one of the big challenges for OPC and this will help a lot.
- Few minor fixes with enhanced algorithm
The changes that are scheduled for are:
- Masternode collateral will be changed from 37,500 OPCX to 150,000 OPCX. This amount was established by a community vote and extensive discussion within the team. We believe it will give some extra prestige to holding a masternode and the amount of rewards per masternode will go up. The cost/reward ratio was low and will be higher with this change.
- Fix for the fake-stake attack that was found in blockchains similar to PIVX.
- Wallet UI update
We are always searching for new talent to expand our team. This month we decided to bring in someone who already managed our Facebook page to help us with marketing & communication. We are glad to announce that CryptoCrushR is part of the team now.
If anyone from the community feels like they can help us out in any way, they can post their thoughts and suggestions in the #suggestions area or PM someone from the team.
We will be focusing on wrapping up the store and getting the code updates implemented, while trying to raise more awareness on our project. We will see you all next month in a new update!