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Bytom

Bytom Weekly Report (2021. 3.1–2021.3.5)

Project Development

MOV and Bystack are recorded in Hangzhou Blockchain Industry WhitePaper 2020

Recently, Hangzhou Blockchain Industry WhitePaper 2020 was released, in which Bytom was mentioned in the part of “application and practice of underlying technology”.

The WhitePaper pointed out that Bytom blockchain has realized the operation of data assets exchange and cost by using the three-layer architecture of application layer, contract layer and data layer; MOV SuperTx protocol takes the lead in layout and operation of DEX based on CFMM, and deeply explores the feasibility of blockchain in the field of decentralized finance (DeFi); Based on Bystack platform, the Hangzhou government affairs service chain deployed under the system of Hangzhou municipal government data resources management bureau has been on-chain of 26 types of trusted licenses.

MOV SUP coin burn (February)

Bytom Foundation has completed the buyback and coin burn of SUP for MOV SuperTx trading fees this month.20% of the SuperTx protocol trade fee will be buyback and coin burn every month.

According to MOV data center statistics (https://mov.blockmeta.com/), February (2.01–3.01) SuperTx protocol trading volume is:

0.21 BTC, 8.89 ETH, 215,255.97 BTM, 3,060.80 USDT, 2,780.67 DAI, 2,586.63USDC, 16.65 SUP, 5.03 LTC, 46.71 DOT

As result 20% trade fee: (0.04 BTC, 1.68 ETH, 40,932.88 BTM, 612.43 USDT, 556.41DAI, 517.51 USDC, 3.33 SUP, 1.00 LTC, 9.30 DOT) should be burned this month. According to the market price, a total of 133.33 SUP should be burned this month.

MOV BTM Coin Burn(February)

Bytom Foundation has completed the buyback and coin burn of BTM for MOV trading fee profit of February this month. 20% of the MOV trading fee profit will be buyback and coin burn every month.

According to MOV data center statistics (https://mov.blockmeta.com/), February (2.01–3.01) trading fee of each token is:

140125.94 BTM, 6.38 ETH, 0.052 BTC, 1.68 LTC, 1232.08 USDT, 5.38 SUP

As result 20% trade fee: (0.01 BTC, 1.28 ETH, 28,025.19 BTM, 246.42 USDT, 1.08 SUP, 0.34 LTC) should be burned this month.

According to the market price, a total of 63075.78 BTM should be burned this month.

The coin burn Txhash:

https://blockmeta.com/tx/f4fe7994582f126e6642b24b1327a01a0eafe14d4c44eb98eee525932135454b

AMM Ultimate Note: Five Solutions to Impermanent Loss is published by Bytom Institute

AMM (Automated Market Maker), uses the basic mathematical curve to define the supply and demand curve of cryptocurrency trading pairs. Based on the all-weather unattended smart contract, it redefines the basic form of DEX, Uniswap, the representative project. The AMM Ultimate Note by Bytom Institute analyzes Impermanent loss, the most essential characteristics, and development trends of AMM.

New utility is added to Bycoin

Bycoin wallet has added several new functions in advanced settings — wallet balance refresh tool and UTXO merge tool.

Dev Report

Lending protocol

1. Lending risk warning push test completed.

SuperTx

1. Complete the interface required for online SuperTx

trading shock curve;

2. The joint debugging of SuperTx price shock curve interface is completed to determine the sliding point dynamic range;

3. Write the code of SuperTx coin listing;

4. The test of unconfirmed SuperTx part of UTXO.

OFMF

1. Some API of OFMF federal server are modified to be compatible with ERC20;

2. OFMF-summary updater is modified and compatible with ERC20;

3. Encapsulate human-abi treasury, support any ERC20 token transfer transaction, encapsulate eth token tracker, support token balance polling update, add ABI meta treasury, and support automatic introduction of ERC20 token contract address;

4. Update ERC20 balance component, support regular refresh, support condition update, abstract erc20 transfer transaction.

Blockmeta

1. Upgrade API service which providing interface for CMC;

2. Revise the daily statistical table of SuperTx data and increase the daily closing USD price;

3. Add SuperTx cumulative data table and back-end statistical code, modify the code of SuperTx API interface to calculate USD price;

4. Upgrade RPC service and timing statistics service;

5. The script using Blockcenter V2 interface on the monitoring server is replaced by V3.

Mobile terminal

1. Complete push business;

2. Dynamic spring window function is added and adapted;

3. Complete the screening function of SuperTx list;

4. ETH cross chain registration contract confirmation window page optimization.

Security

1. Docking the development of encryption machine to realize the import of private key and the signature of private key.

MOV platform data

In the past seven days, the number of transactions on MOV reached 670,762, the number of active addresses reached 5,954, and the transaction volume reached $11,339,485.99.

Activity

1, Join Bycoin partnership share permanent dividends

MOV, as the next generation decentralized cross-chain exchange protocol, after the continuous launch of the “cross-chain gift package” and “the first MOV on-chain trading competition” activities, the cross-in assets were nearly 5.71 million dollars, and the on-chain trading volume also increased linearly. In order to promote the further development of MOV’s ecology and share the revenue with community fans, Bytom officially launched the “Bycoin Partnership, Make the Future” Community Partner Program on May 11, 2020.

To thank the community users for their continuous support, the Bycoin team extends the partner program from a limited time to permanent. From August 11, 2020, all partners will receive a permanent dividend equal to 10% of the trading fee, of which the first-level 8% of the fee and the second-level 2% of the trading fee. There is no deadline and no upper limit for dividends.

2, SuperTx governance proposal status update

SuperTx governance has been opened. There are currently 20 proposals in the community, including Litecoin trading pair released, Shortened review voting time, Proposal to open SuperTx listing rights, Reduction of SuperTx transaction fees for SUP holders, Listing Polkadot in MOV, and listing ZEC and ZEN, Let SUP Popularized to capture value, these proposals have been voted by the community;

Click to view the details of superconducting community governance: https://supertx.bymov.io/gov/

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