[Ripple Dividend] Launching Dividend-Paying-IOUs

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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Mon Nov 10, 2014 7:17 am

A message to the owner of rLh1FqTVxn7fC4y1cBd4iUiAAv9kXVeGFu:

I noticed a payment made by this account, sending 2BTC into the issuing address of RippleDividend.
TxnID: 55115D2334084BF947CC23AD4B762DA0B74369DE1CD9F08C2136EE7A84A81630

if you made this payment by accident/mistake, please leave a message here.
I could manually make a refund, with 1% processing charge.

If the amount remain unclaimed after 7 days from this notice,
it will be treated as a donation to our BTC-Fund.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby yvv » Mon Nov 10, 2014 1:34 pm

Send him back equivalent amount of XRP next week.
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Fri Nov 14, 2014 11:07 am

A change in Hot-Cold Wallet Construction
http://www.rippledividend.com/a-change-in-hot-cold-wallet-construction/

First of all, this is about some operational/technical change, it has nothing to do with our trading/portfolio management strategy. Continue reading if you are interested.


Two type of Hot-Cold Construction.
Most gateways are currently using a ‘vanilla paradigm’ for their hot-cold wallet construction, as described in this wiki: Hot & cold wallet setup

It is a simple an intuitive model with one disadvantage — if we want to know the total amount of IOU issued by a gateway, we have no other way but to request a full list of trustlines connected to it and then sum them up.

Recently, a change in RL’s public servers had set them to return only 200 lines per page for an account_lines API request. As a result, a user that are using these servers will need to reiterate the request in order to get a full list of trustlines. This means >50 ++ requests for a popular gateway e.g. Bitstamp.

And for ordinary users, most of the time we just want to check the total outstanding issuance of a gateway, and not interested in the details of every single trustlines.

It would make our life easier if the gateways could switch their hot-cold wallet construction into an advance ‘Bank Construct’ (I have no idea how this model get the name) as described in the wiki above. In this paradigm, to know the total issued IOU of a gateway, we just need to make one single inquiry regarding the trustline between its hot and cold wallet.


Our Choice
Ripple Dividend had decided to switch into an advanced model that’s combine both the ‘vanilla’ and ‘bank’ construct described above.

We will have a master hotwallet (or just call it ‘Warm-wallet’), which apply the ‘bank construct’ paradigm for new IOUs issuing. The Cold-wallet (issuer address) will trust the Warm-wallet with sufficient amount of limit. And we retain our current Hotwallets who trust the issuer address (here, ‘vanilla construct’).

All new units will be issued from Warm-wallet, sending the amount into our Hotwallets, by rippling through the Issuing-Account. Then the Hotwallets could continue to operate with our sell/buy-back mechanism as what have been doing now.

In this model, the balance of Issuer address will be maintained at zero, and the negative balance on our Warm Wallet will represent the total amount of IOUs issued, which include those retained in Hotwallets. To get the amount of unit-in-circulation, we just need to deduct the balances in our Hotwallets from the one in Warm-wallet.


Effective Date.
For the IOUs that had been in-circulate, we will make the official switch into new model somewhere on 21st-Nov-2014, which is 7 days from the date of this post. Technically, the switch will just involve some payments from Warm-wallet into our Issuing Account, making its balance become zero.

The Warm-Wallet created for our new model is:

rDVWVioZxWqnU1bEYm8fV1ShQy2jpndabE

This operation should have no effect to most of our holders. But for those who are programmatically monitoring our accounts, they might need to review their codes.

Any upcoming funds will be launched under the new Hot-Cold paradigm.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Sat Nov 15, 2014 10:22 am

In case somebody feel curious about this....

our FBM fund is suffering loss currently, and hence its dividends are temporarily halted.
But the holders will still received some zero amount payment (1 drop) that's attached with our memos.

The rational of doing this is to maintain the continuity of our dividend history,
so that the holders could be sure that some the payments were halted, not missed.

In the memo, you will see some negative dividend figures (theoretically value from our dividend-calculation algorithm) which indicate that the fund is in a loss situation.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Mon Nov 17, 2014 4:54 pm

ripplerm wrote:A message to the owner of rLh1FqTVxn7fC4y1cBd4iUiAAv9kXVeGFu:

I noticed a payment made by this account, sending 2BTC into the issuing address of RippleDividend.
TxnID: 55115D2334084BF947CC23AD4B762DA0B74369DE1CD9F08C2136EE7A84A81630

if you made this payment by accident/mistake, please leave a message here.
I could manually make a refund, with 1% processing charge.

If the amount remain unclaimed after 7 days from this notice,
it will be treated as a donation to our BTC-Fund.


There's still no response from the account owner.
So, I sent the 2BTC.RippleDividend into our risk-reserve account.
TxnID: 1869ADF073D7F3893866D7821B40798DDE9DA37FD6EB67E3D7E3000B3E232BD7

its share of dividend will become part of our risk reserves.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Tue Nov 18, 2014 7:03 am

Simple Tool for Retrieving Dividend History
[ original post: http://www.rippledividend.com/simple-tool-for-retrieving-dividend-history/ ]


Here’s a simple javascript tool that’s help to retrieve our dividend payments from a holder’s transaction history.

http://ripplerm.github.io/RippleDividend/dividend.html

“ledger_min” and “ledger_max” represent the range of ledger-index to perform the historical search. The “-1″ for ledger_max means starting the search from the latest available ledger. Our first record_ledger is on 8120000 hence there’s no point to make any search on ledgers earlier than that.

The search-range represents where a payment-transaction occur, not the range of record-ledger (our dividend-payment could occur days after its entitlement). As normal, wider range would take longer time.

Most of the values in the output list are information retrieved from Memos of the transactions. Some fields were absence in our earlier version of Memos, hence the ‘NaN’ value shown.

source code is available at:
https://github.com/ripplerm/RippleDividend/blob/gh-pages/dividend.html
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Fri Nov 21, 2014 8:08 am

UPDATE:

Today we had just complete the switch of hot-cold-wallet setting from a 'vanilla construct' into a 'bank construct'.
[ earlier announcement: http://www.rippledividend.com/a-change-in-hot-cold-wallet-construction/ ]

now the net balance on the issuer account will always be zero.
(you would see a small non-zero figure due to roundings)
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Mon Nov 24, 2014 8:46 am

Memo Version dv.1.1

Following the change in our Hot-Cold-Wallet paradigm, we decided to add a new field in our Memos, named ‘fund_warmwallet’. Starting from record_ledger 10140000, the new version of Memo will be used.
Last edited by ripplerm on Mon Nov 24, 2014 8:48 am, edited 1 time in total.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby ripplerm » Mon Nov 24, 2014 8:47 am

[Update] New IOU for FMM Portfolio.

Starting from December, our FMM fund will initiate market-making support for JPY.TokyoJPY.

This will help broadening the base of our portfolio (increase the source of income).
Nevertheless, more IOUs/gateways also means higher default risk assumed.
ripplerm
 
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Re: [Ripple Dividend] Launching Dividend-Paying-IOUs

Postby kureus » Tue Nov 25, 2014 4:45 pm

ripplerm wrote:On Vacation 13 ~ 21, October, 2014.
Just to inform that I'll be on vacation during the above period.

Market-making bots will keep running on my computer,
but if anything happen (e.g. power failure) there will be nobody to restart the bots.
The 1:1 quotes for buyback mechanism might be affected too.

Dividends will be accumulated and payments will be triggered after vacation.


Would it make more sense to run the bots on a secure remote server? Say in AWS?
Leave you to focus on the actually managing the fund rather than worrying about keeping your machine online. Not to mention much more secure. Just a thought.
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