Wednesday, May 25, 2022
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Catalyst Fund 8 Results In

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Its been a tremendous turn out for Fund 8. We couldn’t beleive just how many proposals were submitted. It took several hours to read through them all, before making an informed vote. We’re happy to see that many of the DCSpark/Milkomeda proposals were funded. The cross chain support they’re developing is going to have a substantial impact on adoptability. We’re looking forward to their ERC-20 converter, and fleshing out the ERC-721 migration path.

To see the list of all funded projects, you can view it here: https://iohk.us20.list-manage.com/track/click?u=26d3b656ecc43aa6f3063eaed&id=5f9c311c41&e=f1b16cefc0

Congratulations to everyone funded. And keep working at it for those who didnt!

Cardano Lotto v2.0 Now on Testnet – The worlds only LSPO

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I am extremely excited to announce the launch of Cardano Lotto v2.0! The worlds only Lotto Stakepool Offering on the cardano network, the next generation of ISPO.

Cardano Lotto Version 1.0, was the longest running perpetual lottery on Cardano. With version 2’s release imminent, we ran our last one at the end of Epoch 320. In our previous release, we sold individual tickets for 10 ada, with sales open to everyone. The lotto ticket cNFT was returned to the buyer, and the proceeds were held in a prize wallet. At the end of each epoch, 3 winners were selected, and the prize wallet was divvied up between the winners and the project team.

Version 2.0 is so so so much more than that!!! We now have built a system to be a massive value add for Single Pool Operators. A lottery collection can be either a collection of pools working together, or ran individually from a single pool. The system can be set up to have anywhere from 3 winners, to whatever maximum desired. The system works as follows:

1) Once a collection is established (single pool, or multiple pools), only delegates of those pools will be able to participate in their respective lotto.

2) Users buy a cNFT Lotto ticket. The sale can be set to be purchased with Ada only; or if you are running in dual mode, the purchase will be a combo of Ada and your designated Fungible token.

3) If you are running in Dual Mode, ticket holders will be 100% guaranteed that a lottery will run at the end of every epoch. That lottery will grab all of the fungible tokens on the prize wallet, and divvy them up to the winners. After these lottos run, the system will refill the prize wallet with whatever minimum quantity of tokens is desired. The BUDZ collection is placing 10k cbTHC on the prize wallet for every lotto.

4) If any pool in the collection mints a block, thats where the real fun begins. Once the operator rewards arrive, it triggers the grand finale. The system will determine the operator rewards for each pool in the collection. The designated lottery portion is added to the prize purse, along with all of the ada in the prize wallet. The non lotto portion of the operator rewards are queued up for delivery to the pool operators designated wallet. After that, winners are selected from all previously purchased tickets, that haven’t yet been used in the collections primary lotto. The system delivers the rewards to the winners, and the non lotto pool rewards to their respective owner. Any new tickets purchased move in to the next lottery cycle.

The lottery ticket cNFT is generated real time, with all of the current info (Epoch, Collection Name, Ticket Number, Etc). Each collections ticket will be unique to that collection. That includes the artwork, the font color (which we also have a random color option), font size, text location on the token, and metadata verbiage.

If a collection of pools work together, we could see very big prizes awarded. If you have a fungible token, this is an excellent way of making them more valuable.

We’re currently live on Testnet. As of this writing, we are in the last day of epoch 189. We have removed the delegation requirement on Testnet so that anyone can play there. We have some placeholder artwork on the BUDZ collection, which will be composed of BUDZ and FIGHT pool once we move on to Mainnet. To participate on testnet, you’ll need to do the following:

1) Flip your wallet to testnet. We recommend CCVault or Nami, since both have easy ways to switch to testnet. For CCVault, go to the bottom right corner and click where it says Mainnet. That will show you the available networks Mainnet, Testnet, Guild. Select Testnet. (Switching back to Mainnet is the same. You’ll have to create a new wallet in CCVault. You can either a) pair a hardware wallet if you already have one. The process is the same as it is on mainnet. b) create a new seed. c) restore your Mainnet seed. Since testnet and mainnet are two different networks, one will not impact the other. For Nami click on your avatar in the upper right hand corner, and then go to settings. Under settings, click on network. Switch from Mainnet to Testnet. (Switching back to mainnet is the same).

2) Get yourself some test ada. With your testnet wallet set up, go to https://testnets.cardano.org/en/testnets/cardano/tools/faucet/. Midway down the page, put in your receive address, and click request funds. Give it about 5 minutes, and you should have 1000 test ada in your testnet wallet.

3) Our testnet lotto collection uses cbTHC, so you’ll need to obtain some. You can grab some on testnet.sundaeswap.finance, or use our fountain. To use our fountain, send 5 test ada to addr_test1vrn2zkzq32jptqm9y2vs3fm58t0tq3x8f2mzwk2n4742exqnezats, and you will receive back 1000 cbTHC. If you like what you see, this is using the Digital Syndicate mint/fountain system we have on Mainnet. We are happy to host your cNFT drop or token fountain.

4) Buy some tickets! Each ticket costs ₳5 + 10 cbTHC. You can buy up to 10 at a time. So for 10 tickets, you’d send 50 ada and 100 cbTHC. The wallet address is addr_test1vz6mlgqdy869l2apw5j5q3wfwav9rfkhrlzwzdq8kyzhewqk3wtyy.

5) If you’d like to see how our discord alerts look while the system is running, hop in our discord at https://discord.gg/Ty7rGy65CA. Once you’re in, ask to be added to the beta group so you can see the Discord Notices.

Some additional noteworthy mentions:

1) The system refunds all overages. If you sent 1000 ada, and 1000 cbTHC, you will get back 10 lotto tickets, 950 ada, and 900 cbTHC. It also looks at in between values. If you send 8 ada + 12 cbTHC, it will return one Lotto Ticket, along with 3 ada and 2 cbTHC. If the transaction includes anything other than ada or cbTHC, it refunds the entire transaction. Because we dont want your spacebudz (well we do, but… we dont).

2) If you mess up (or intentionally try to throw a wrench in the system) and send a transaction where there isnt enough ada to return it, we quarantine your transaction. For example, if you attached 10 cbTHC, but forget to add 5 Ada, and click send, there wont be enough ada for us to refund the transaction (this works with any Cardano Asset). Unlike every other services, we place your transaction in a self service quarantine. Coming soon (likely in the next week or so), we will make a basic web interface where you can enter your wallet. If you have any quarantined transactions tied to your wallet, it will show if to you. You can then send 2 ada to the retrieval wallet, which will then recover your quarantined items, along with any excess ada. This system only costs the dust for the transactions; we make no money on it. We built this as a value add, and for convenience, so that we dont have to manually recover them for you. There are some safeguards for transactions’ that are sent from Exchanges, but they aren’t foolproof. So the usual warnings of never sending from an Exchange still need to be clearly stated. But regardless, only pool delegates should be buying tickets anyways. This refund/triage system is currently in use on the Digital Syndicate Mint Engine.

3) We have lots and lots of Discord Alerts. We may add some custom collection settings in the future. But for now it will alert your Discord’s designated channel with:
3a) Any new ticket sale; displaying the ticket number sold (we plan to add the ipfs artwork soon), and the total number of tickets sold for the next primary and secondary lottos to run.
3b) New blocks (block check runs every 2 hours) — Every time your pool mints a block, we trigger an alert with the total blocks minted in the current epoch, and an estimate of what that lotto payout will be. This is all determined real time from your pools config (((min blocks minted * margin) + fixed cost) * percentage designated for lotto) + prize wallet balance.
3c) Start and stop of ticket sales. We halt sales 45 minutes prior to the epoch boundary, and restart them 15 minutes after.
3d) 1 minute warning prior to a lotto payout, and then the results of the lotto; winners and their prizes paid.

4) We have not added any administrative fees to the system yet. We likely will at some point after we go live on Mainnet. Any fee will be nominal. If you are interested in either being part of the BUDZ collective, or creating your own collective, please reach out to us on our Discord.

5) Keys, keys, keys. We have a highly secure system that is hosted in a country where gambling is legal. You’ll have to do your own research to determine if participating runs afoul of your local laws. Wallet keys are held in a highly secure fashion. We believe the risk of theft is highly unlikely within the current environment. But we are currently working on a revolutionary key system, where all keys are held in a database after being encrypted. The encryption passkey will not be held on any computer, anywhere in the world. Transactions will all be signed and submitted in memory. The ETA for this key system is early March, and we will make this code open source.

6) Our planned Mainnet launch for Cardano Lotto is Epoch 326 starting March 11th, 2022. If you want to use the BUDZ Lotto on day one, be sure to delegate before the end of Epoch 324. If you want to have your own collection onboarded to be live in epoch 326, we will need to have you all set up before the end of Epoch 324 as well. Onboarding is a process, so dont wait till the last minute. If you have a pool on testnet that you’d like to demo with the system, we’re happy to do that as well.

On behalf of the Digital Syndicate/Cardano Budz team, I want to a give warm Thanks to all of the awesome people who have helped us along the way. We are definitely standing on the shoulders of giants.

Cardano Budz Harvest 2 is currently selling, and Grow Your Own Adventure lands April 20th, 2022.

– Huth S0lo

https://CardanoLotto.io
https://CardanoBudz.io
https://cNFTHub.io

Round Two of cNFT Royalties is under way | CIP-27 v2

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In August of 2021, just ahead of the Alonzo hard fork, an unprecedented meeting took place. The focus was how to bring Royalties to Cardano. Many Ethereum folks had used this as a talking point to create FUD for Cardano since we did not yet have royalties in the cNFT ecosystem. Many people were under the impression that Smart Contracts would effectively solve this problem. But as the designs for Plutus became more known, it became clear the Cardano Smart Contracts would not provide this function. And the reason is fairly straight forward. In Ethereum, Assets only exist because of a smart contract; therefore a royalty can be built in to the same smart contract. On Cardano, Assets are native. We dont need Smart Contracts to create assets. As such, they are not tied at the hip, and are mutually exclusive in nature. Thats not to say a smart contract cant be written to provide a royalty. It does however mean that we cannot force an asset to pass through a smart contract when it changes hands.

Since many had expressed the desire to have royalties, and to get ahead of the Fud being brought on from Ethereum maxis, several key players from the community began an effort to create a community standard. Significant input was taken from the community at large. Several ideas were proposed. And the technically valid solutions were voted on. The result of this event is CIP-0027.

At the time of the inception, the Mary era was only 9 months old. Only a couple of marketplaces existed. And we had no precendent or hind site knowledge. The goal was very much to reconvene in the future to revisit the topic. And that time has now finally arrived. We’ve seen the space mature significantly. We now have over 3 million assets on the blockchain, several marketplaces, and a much larger community.

The conversation is taking place in the Buffy Bot Discord. You can join the Discord here. That link is good for 1 week, and will be updated through the end of the discussion period. If you would like to participate, please join their Discord, and then request to be added to the Royalties discussion.

We will plan to host a few twitterspaces for proposers to discuss their ideas. A final closed door voting session will take place tentatively on February 12th. Since there is no rush to create a version 2, this date may be extended as long as necessary.

Keywords: cnft projects, cardano cip github, cnfthub, cnft updates, cnft con, cnft maker, cardano nft royalties

SundaeSwap is live, and its a mixed bag

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The moment everyone had been waiting for has finally happened. Late Wednesday night, early Thursday (depending on where you live), SundaeSwap went live. They did it with very little warning. As expected, the blockchain has gone from heavy load, to completely over burdened. So how has it played out?

Well, it does work. But it takes allot of patience. What we (the cNFTHub team) have found, is that Nami wallet just doesnt work consistently. However ccVault works very consistent. If you place an order, you just have to be patient. It takes anywhere from 5-20 minutes for your ada or tokens to be removed from your wallet and placed in to the smart contract. Then what you are expecting to receive in return can take anywhere from 8 to 24 hours.

Its very important to note that slippage is a real thing, and there will obviously be allot of orders ahead of yours. Its not possible to know how many; and as such, impossible to know what the future price will be, by the time your order is at the front of the line. If you want to ensure your order gets placed, you’ll have to adjust the slippage. To what level of slippage is entirely up to you. But if you set it for 100%, you will definitely get your swap.

The feedback we’re seeing online is ranges from “its okay” to “very frustrated”. Its hard to know if it will improve in time. But its unlikely that we’ll see a sudden decrease in usage; which means the lag times on not just SundaeSwap, but all of Cardano are likely here to stay for the forseeable future.

What could improve things? Well, for starters, we’re a bit surprised to find out that SundaeSwap is using Blockfrost. Blockfrost is okay for a few use cases. But at this volume, its anything but. It seems like they probably should have either custom built their back end, or they should have connected with a team like Phyrehose.

So in summary, it could be better. But it does work. And the cNFTHub team has had some very good results with our cbTHC listing for Cardano Budz. So swap away. Just expect some very real delays. And dont forget about MuesliSwap. Their site works perfectly, and is delay free (save for the fact that the blockchain is saturated and making everything around it slow).

cNFT Staking comes to Cardano

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Just on the heels of our previous post about Drip Dropz, we have another interesting announcement. And this one involves the cNFT Hub / Digital Syndicate team. For those who are unaware, the Digital Syndicate team are the project team behind Cardano Budz. We have been developing the concepts for Cardano Budz: Grow Your Own Adventure (GYOA) for approximately 6 months; with development well under way.

If you have been following our Budz project, we have talked about integrating GYOA with our stakepools BUDZ and FIGHT. In early December, we activated our NFT Staking functions within our pool, and our delegates began accruing cbTHC. Within just a couple of epochs, we came be aware of Drip Dropz impending release. Knowing that their project encourage stake pools to work together, we arranged to meet with them to discuss GYOA.

Its always a bit magical when things come together so well. Our conversations were very productive, and we found that we had very mutually beneficial goals. Today I’m extremely proud to annouce that the Cardano Budz cbTHC asset will become available on Drip Dropz in Epoch 315. They have generously donated their time to add all of the needed logic for our cNFT Staking design to their system. You can anticipate this new cNFT Staking offering to be leveraged by a number of stakepools. But we’re over the moon that Cardano Budz gets to be the first one on Drip Dropz.

Our warmest Thanks for out to the Drip Dropz team for helping us make this happen!

For more information about Drip Dropz, you can find them on Twitter at https://twitter.com/ContactDrip. And for more information about Cardano Budz and cbTHC, you can find us at https://CardanoBudz.io

Drip Dropz the bomb :)

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In just a weeks time, and currently on the second epoch of their launch, Drip Dropz has taken Cardano by storm! They’ve already amassed 12,000 followers on Twitter, and have had a significant social media presence. Its a project CNFT Hub has had allot of interest in, and we’re pretty happy to see their success.

Drip Dropz dropped two bombz (the good kind) on us yesterday. They’ve introduced cNFT Staking; starting with Unsigned Algorithms as their first cNFT Stake delegation release. Unsig holders will get a free token that they will be able to exchange in the near future, for the next Unsig release. Exciting Times.

And if that werent enough, they’ve also announced a partnership with $AdaHandles. You’ll now be able to use your $AdaHandle on their site to look up your earned rewards. Very impressive just one week in to production.

So whats next for Drip Dropz? We’ll have to wait and see. But a little bird told us you might see another excellent bomb dropped in short order.

Cardania Terraforms Arrive in time for Christmas

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Cardania has quietly released a nice gift for us all. Their Terraforms have finally arrived. Only time will tell which of the Metaverse projects is crowned king. But this one checks off allot of boxe. Hopefully we can open our card packs in the not too distant future.

The word on the street is that you will be able to turn in your founder cards in a one for one exchange for lands. And if you hold all 7 colored cards, you’ll get a Prismatic. Should be very exciting!

The FOMO is real – Equine has likely beat the all time record for initial sales

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The people of the Cardano cNFT space have spoken loud and clear. Gamification is where its at. The Equine team started their pioneer launch at 00:00UTC today (December 18th 2021). Theres just over 7 hours left. The price is steep; but that clearly has not been any sort of deterrent. Theres already been 11,000 bundles minted as I write this. The team is easily going to hit 3 Million Ada in sales before its all over.

We’re looking forward to getting our horses in the ring, to start playing with them. Serious congratulations to Fahaduken, Marek, & Fencemaker. You’ve set a new bar, that likely wont be broken for a very long time.

We at CNFTHub.io cant tell you how to invest your hard earned Ada. But we can tell you the FOMO is real; and your window of opportunity to pick up a pioneer horse in the primary market is quickly coming to a close.

We’ll see you all around the racetrack!

Cardano Node 1.32.1 released – Big Changes for NFT Creation

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The Digital Syndicate team was fortunate to have been given a word of mouth heads up about Cardano Node 1.32.1. This release significantly changes the way nft’s are created from the command line; and subsequently any mint engine that runs on a live node. The release notes are available here. But we’ll provide some guidance below.

Prior to 1.32.1, you created an nft using policyid.tokenname. In this new release you’ll have to convert the token name to hexidecimal. Using the same example, it would become policyid.746f6b656e6e616d65. This is to resolve issues with those who want to mint NFT’s with non standard characters in the name. Its hard to say if this will really make a difference in that regard. But this change is significant enough that CNFT Hub felt it important to provide some work around solutions.

The first solution is to update your Cardano Node software to 1.32.1, but leave your Cardano Cli software at its current code level. This is a temporary stopgap. This should allow mint fountains to continue to operate until they’ve patched their code.

For those who mint on a one by one basis, you can just convert the token name to hexidecimal manually. This website makes it very easy. If you set the output delimeter to none, you can copy and paste your new hex code. We also highly recommend the stakepool scripts by Gitmachl. His scripts are always bleeding edge, and already include this update.

For those of you who automate their CNFT creation, the below is some code that should help you solve the issue. The python code comes to you courtesy of Digital Syndicate to help get you sorted.

Python:

token_name = ‘YOURTOKENASCIINAME’
utf_name = token_name.encode(‘utf-8’)
hex_name =(utf_name.hex())
print(hex_name)

PHP:

<?php
echo bin2hex(“YOURTOKENASCIINAME”)
?>

Powershell
$tokenname = “YOURTOKENASCIINAME”;
$toconvert = $tokenname.ToCharArray();
Foreach ($element in $toconvert) {$hexname = $hexname + ” ” + [System.String]::Format(“{0:X}”, [System.Convert]::ToUInt32($element))}
echo $hexname

Everyone makes mistakes – Perspective

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Lets face it; the tech side of Cardano is hard. Guides like Coin Cashew have made it easy to get in to the stakepool business. But make no mistake; these things are really bleeding edge. A slight lack of technical understanding can create a very bad outcome.

When I first stood up HS0LO stake pool (now renamed to BUDZ), I had an idea for preventing missed blocks. What if I set up two block producers, that have the same operating certificate. That way my blocks would make it out, even if one was offline for whatever reason. Its with good fortune that I asked around prior to implementing this. I was told at that time that this was a big no no, and there were plans to punish SPO’s that did this. I did not know the circumstances as to why it was bad; but I abandoned the plan before ever implementing it.

Well the reason you dont do this became apparent this week. For those of you who are not familiar with Andrew Westberg; he is a very well known Cardano Developer. He has developed tools such as CNCLI, Poolperks.io, and the upcoming DripDropz. So when he points out something; people take notice. The other day he released a bit of code that showed pools that had been using multiple block producers. It was a big enough deal, that Tim Harrison at IOHK responded.

But no one took more heat than the legendary Kaizen Crypto. His pool ended up towards the top of the naughty list. Being how well known he is in the community, this was a really bad look for him. And many a small pool operator was quick to publicly shame him.

But this post isnt to further drag him through the mud. Instead I’m hoping to offer some perspective. I’ve been working with computers since I was 12 years old (I’m now 43). I’ve been a professional computer/network engineer for 25 years. When I put some thought to high availability, my first instinct was to set up two block identical block producers. Had I of not asked, prior to implementing, BUDZ pool would have been guilty of the same thing. As an SPO operator, you are obligated to ensure you are minting your blocks for you delegates. This is paramount. So having a mechanism to make sure you mint if your datacenter is having an outage is a logical conclusion. As soon as he was made aware of the problem, he owned it publicly, and rectified it. These are the things a leader does.

The operators who were really quick to shame him publicly, only were really hoping to snap up some delegates who might have been planning to walk away. We all want to succeed. But there is a right way and a wrong way to go about it. Please try to keep it civil folks. What I didnt see was a backlash for 1 percent pool; the pool that does literally everything that it possibly can, to contradict the ethos of Cardano.

Andrew Westberg created a really great podcast, that explains the problem created with having multiple block producers. Its worth the watch.

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