On November 10, 2018, Dexaran, Yohan Graterol, and Carlos Sampol, Callisto Network’s founding team, answered questions from the community about cold staking, HitBTC listing, and market cycles.
Hello, @yograterol @Dexaran, @sampol18!
Some guys were blaming you for EOS Black hack. What do you say?
I would say that I will respond if they write something more reasonable than research based on their assumptions.
Until then – I consider it an attempt to grab some easy karma on Reddit.
In this case, why your moderators deleted the question on Telegram and Reddit? Even ETC mods do not censor opinions. They are just labeling them with “No proof” remark like this.
Isn’t it the censorship that you are fighting so much?
I was not here when it happened. I don’t know why they did it, but I will investigate later.
Hi @dexaran First, can you tell us how you feel, and give us the news that you feel important to tell us.
I can say that HF1 is completed successfully. Cold Staking will be enabled soon.
It is important to say that after the onset, network stress and panic are possible. We ask community members to remain calm and think about their decisions carefully. If you don’t understand something – feel free to ask. Please, do not hit all the buttons you see and think about what you are doing!
For Dex, did you imagine some cool functions to implement in the future? For Yohan, what is your vision for Callisto in the next quarter?
My main focus is on information security.
We will start the formation of EOS security department soon. Other development-related features are described in the whitepaper. I have nothing to add for now.
Why such a low level of information about the upcoming cold stacking? One day before the start and we don’t even know if there will be buttons, no instructions. What will you do when questions from those who, for example, send their coins to the wrong address or make another mistake, will sprinkle?
Instructions are published.
UI is in testing – there are no guides at the moment; however, if you know JS, then you can browse the code.
Instructions should be more useful/detailed for standard users. When I push the “cold staking” button on the website, there is no detailed info about stacking How to do it. Also, detailed info about wallets and all other points are highly appreciated
When will legal opinion be ready?
What percentage of probability that it will be?
I guess 100%, I’m pushing lawyer to get it.
Hey team, Will we are able to follow the % staked at the moment somewhere?
Yes, you will be able to check the available balance on the stake.
A question to developers! The Binance exchange bought Trust Wallet that supports the CLO network. You haven’t talked to the exchange about the CLO listing?
We have sent the requests but no answer. So, it’s a goal for 2019.
I want to be part of the team to improve myself.
Who can help me?
Write to me to [email protected]
I see that the balance in the CS wallet is 51 million CLO since we will be staking to the same address, will that affect the total weight and payout for each staker?
This will increase your rewards during the first month.
Do you have a Twitter account Dex?
Do you plan to partner with, for example, ETC or other projects?
We would be happy to establish a partnership with any project that can benefit from Callisto.
The issue here is that ETC community is not interested.
If we have the same address is not less secure, there is no more protection for each one to have an individual contract address.
It is technically impossible to let users stake from their addresses without depositing into the contract.
I see that cold stake will be enabled on 12/11 (12 November 2018).
There are time windows to start staking, or will be possible at any moment?
After the contract is enabled, you can start staking at any moment.
@yograterol Are there any new members of the media team?
Not for now.
What are marketing campaigns available for the near future? How do you plan to attract investors?
You could check forum with news about marketing every week https://forum.callisto.network/t/marketing-week-8-summary/299
@dexaran After a while, are you planning to switch to another network, for example, EOS? With CLO reward.
Callisto will remain as a separate blockchain platform in the near future.
Hello dex, how do you see the price for Callisto? I am interested as an investor.
We have > hashrate than UBQ, EXP, or even ETP.
I guess that we will surpass them by marketcap.
<This is not an investment advice.>
Who is in control of the address, in the end it is totally independent.
We have control over some methods by safe as “freeze CS”.
@Dev team what will be the future plan to let the Callisto take a good place in the crypto world.
After CS activation, we will publish an updated roadmap aiming to get a better place in the crypto world. We are fulfilling the current roadmap for this year.
@dexaran do you have a plan to join top 100 cc?
See my previous message about hashrate comparison.
“We have > hashrate than UBQ, EXP or even ETP.
I guess that we will surpass them by marketcap.
<This is not an investment advice.>”
Also, ETP is in top 100.
@yograterol Is there any really effective marketing plan?
Our current marketing plan is effective, It could be improvement anytime if you have feedback about it please write it here or to me at [email protected]
Dexaran I Remember that was a specific day each month to start coldstake or not?
You can start staking at any moment (if you are not staking already).
If you already have balance in staking then you should (1) use another fresh account or (2) wait for the end of your 27-days staking round.
I have a question for Carlos Sampol. How it turns that you became a CTO of Callisto? Afaik your only responsibility is website development. Congrats tho 😀
The website is not my only responsibility.
CLO has a lot of internal projects – Galileo, Audit platform and a lot more.
Every request of design for any web product is on my hands. including clients rust-callisto and go-callisto.
Do you have large investors who are ready to enter the project?
I can’t provide a positive or negative answer to it.
I guess that a question about “large investors” should not be related to the development team.
@dexaran do you plan to move Callisto on ProgPow?
@yograterol any info about when account added to ledger live wallet?
Let me ask it.
What do you plan to do after launching CS and listing on HitBTC?
See Roadmap https://callisto.network/
Hello Dexaran, I got a question: what is the reason for the back door with freezing and withdrawal of funds in the smart contract of cold staking?
I mean function “freeze” and “withdraw_rewards”
This is not a backdoor. This is an essential debugging function that will save all your money if an error/hack occurs.
What is happening during freezing more detailed? Dexaran, please make some detailed info.
- Unfreeze the contract.
- Withdraw staking REWARDS (not user’s deposits)
- Withdraw their rewards.
Users can not deposit new funds into the contract.
Do you know if CLO will be supported by Metamask or Classic mask?
We can support it at ClassicMask if necessary.
We will think about it after the successful start of the Cold Staking.
If I put on cs on the 26th day of the first round, will I be eligible for the 60% bonus?
Yes. But it will only be a small amount and also depends on the actions of other users.
When Galileo block explorer?
hWe are currently developing it. I Hope to be ready for next Quarter.
Also, we are making some changes on current explorer to improve the experience and look and feel.
@Dexaran I see that buttons for cold staking and claiming reward work perfect on testnet. What is the horizontal scale that shows the percentages at the bottom?
This is the percentage of the completion of your staking round.
Should it show 100% after 10 minutes on the testnet? This is not happening. How much time should it take to reach 100%?
UI is currently in testing. I can’t say something right now – it can contain bugs.
That’s why there is no description or guidelines at the moment but only “staking through the contract”.
Some info may be displayed incorrectly for some reason.
@Dexaran when will the information about audit statistics be available on the website?
In the next weeks.
Team everyone here wants to make money because of this, they asked about investors and exchanges.
Well, they are doing it wrong.
The truth is that If you want to make easy money by asking questions like this – you will likely be in a loss.
You should learn TA/learn programming/ask investors or, at the very least, marketers.
They don’t need to make money in the way you wrote, but they have the right to ask about the future of the coin and their investments.
I understand this, but they are asking it to the wrong person probably.
@Dexaran is the main way for the dev team to improve technical features, or the marketing also takes not the last place?
We have marketing personnel on the team. It’s their role.
Have any updates about EOS auditing team?
No for the moment.
@Dexaran I have one more question for you. Can you name crypto traders that you would recommend following, and whose opinion is essential for you? Trading reasoning only.
Let me shed some light on known names and some twitter accounts:
- Crypto Yoda (@cryptoyoda1338).
- Luke Martin (@venturecoinist).
- Josh Olszewicz (carpenoctom).
- Parabolic Trav (@parabolictrav).
I would name cryptomocho but he sold his twitter account, and I don’t know who owns it now. I’m not sure about him.
@Dexaran at the end of the 27day round, a user needs to claim and make again deposit on contract or funds will be staked again automatically?
A user needs to claim manually.
If he does not claim manually, then the staking will continue, but the user can only receive the reward for 27 days.
– User starts staking.
– 27 days passed.
– User forgot to claim and another 14 days passed.
– The user claims reward – this is the reward for the first 27 days.
– After 13 days he can claim another reward for his 2nd round.
When claiming another reward for the 2nd round, will the user receive the full reward?
Yes, he will receive the full reward for the fully completed round.
Okay, this is clear, but if user does not claim after 27day passes, staking continues with the original tx amount or with original tx + the not claimed reward?
Ex: tx=100, after 27 day reward=25, total 125.
Staking for next round use 100 or 125 as a base for reward calculation?
Only initially deposited amount.
Compound percents are not implemented yet.
We will implement them in HF2, and we are planning to upgrade the Cold Staking contract to implement some new features.
Okay, then if users want to use the entire amount, they have to claim all from the contract and make a new tx to the contract.
I have a question about the fork. The fork was not a right fork with 2 chains what i read. What is changed in the codebase or what is implemented in the codebase, or is was the only change the implementation of the cs smart contract.
Each “fork” is a creation of a second chain with newer (updated) consensus rules.
Our second chain successfully became the main chain.
Our old chain died as it should.
The fork is completed.
I understand that the best method to cold staking is to withdraw staking CLO + bonus from staking after 27 days and then send the whole amount again right?
In this case, you’ll get more profit.
Yeah but still I don’t know why we can read at blog something like that.
” The longer a staker “stakes” their CLO, the higher the reward is. For example, someone who stakes their coins for 2 months will receive approximately 2x the reward than if they had staked their coins for 1 month. NOTE: the minimum period of time for the staking contract is 1 month, claiming can only take place after this period. “
Yes, it’s true. If you stake 2 months, you get about x2 reward more then for stake 1 month. For example: for 1 month, you get 10 CLO, so for 2 months, you get 20 CLO – it’s obvious.
But on first 3 months, the Reward will be increased, so the above description will not work. So much profitable to claim reward after each staking interval (27 days) – it only for first 3 rounds.
A question to the developers. Do you realize that the frozen funds for cold stacking since April (from the start of the network) did not participate in the network economy? Still, after the first round, they will be added, in a huge amount, more than 51 million tokens. And it will have the effect of additional emission of tokens? The economy will react with inflation. Maybe this is a mistake?
Yes, but in exchange, a significant CLO amount will be subtracted from the circulating supply – it will be locked in Cold Staking..
This is the economic background of “staking”.
Just to confirm, when you claim your reward it resets your staking time? So after claiming the reward, waiting another 27 days, your multiplier is still 1 and not 2?
Yes, correct. After claiming your Staking Period will be set to 0 again.
Dex i stake with 100,000 CLO after 27 days I claim the reward and withdraw staking coins fex 125.000 CLO. Then I put all 125,000 CLO again for staking right?
When people will see all CS preferences, after listing on new Exchange, we will see new money coming to CLO.
New money will come into CLO at this moment. Regardless of whatever.
CLO Development team can even sit doing nothing and the “price increase” will come eventually because of market cycles. If you don’t believe me – research what $DOGE is.
Our development team’s main goal is to improve the whole cryptocurrency industry by enhancing the security of smart-contract and researching/developing financial mechanisms and tools. Not the price pump of a specific coin.
I have a question. Is CMC contacted for my suggestion to make an own Column for CLO for the audited coins where you can see the CLO stamp?
No, We are tuning audit platform internally to create an open API for this type of purpose.
Can the Whales staking CLO give us small stakers a heads up so we get a low %?
It is not directly implemented in the contract so it is up to them whether they want to do it.
If I don’t want to claim my rewards after 27 days for example, but let it stake for 270 days before claiming all the rewards (without) the staking amount) since the first one will I get it ALL except the stake amount?
Or should I claim the reward at each matured 27 days?
You no need to claim every 27 days. You can claim the reward once after 270 days. But your reward will be calculated at moment of claim and may be more or less than the amount of awards if you claim after each 27 days period. It depends from Reward Pool and All Stakers Amount at the moment you claim the reward.
Ok, so it’s better to claim to claim it each 27 days than at once 270 later?
It’s better for the first 3 periods, but for next periods it hard to predict. I can’t know how many stakers will be.
Additional comment by Dexaran:
It should be noted that this is THE VERY FIRST AND EXPERIMENTAL implementation of the cold staking.
This is not final. This will be upgraded.
I’ve purposely excluded a lot of functionality from the first version because security is the highest priority at the moment and we must avoid such accidents as TheDAO hack by any means.
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