Week#17 Allodium Exchange Report
Two additional members joined Allodium in the last week! There are now a total of 27 members with vacant member branches for 14 additional members.
Allodium now has an official Steemit page! (https://steemit.com/@allodium) Updates and weekly reports will be posted on the immutable, un-censorable Steemit blockchain so that this evolution cannot be silenced! Follow, upvote, and re-steem posts to support the growth of the Cooperative!
The abundance-based monetary system of Appreciation Tokens (@) is now exchangeable on the Waves Decentralized Exchange (ticker Allodium AT)!
Members can exchange their accumulated @ from the Allodium Exchange Ledger for Allodium AT on the Waves Decentralized Exchange. Small amounts of Waves coins, necessary for transactions, have been staked to the Allodium Exchange, which members can acquire for a small amount of @.
After creating a Waves Account (https://wavesplatform.com/) members can provide their wallet address in order to receive Waves coins and Allodium AT, which will deduct @ from their account on the Allodium Exchange Ledger (contact Naan to facilitate). Allodium AT can then be held in a secure wallet and traded for Waves or BTC.
There are a total of 1,000,000 Allodium AT, however they only enter circulation as @ are generated on the Allodium Exchange Blockchain and then transferred over to the Waves Exchange. Allodium AT can also be transferred back to @ on the Allodium Exchange by sending them back to the Allodium Reserve Account address: 3PNw586zKJuhT6PdxpD4fBLT5skc69UzhvN , along with the recepient member's name and OG# in the Description/message box.
Now that the Allodium AT are freely tradeable, they can reach a free-market valuation, and non-members of Allodium can trade & hold tokens.
In the last week, 77 Waves were donated to Allodium by Naan to facilitate the launch of Allodium AT and value the tokens. 8 Waves were also staked in .1 Wave contracts for 5@ each to provide transactional amounts for members opening Waves accounts. 295 @ were given to Naan by the OG Foundation Reserve in appreciation of the donation, and 80@ were generated from the staked assets, split between Naan and the OG Foundation Reserve.
10 hours of labor were exhausted creating the Steemit account and Waves Exchange functionality, generating 100@.
There have been a number of updates on the Allodium Exchange ledger, which can be viewed here https://docs.google.com/spreadsheets/d/1Py5dJTLGr-lLzPxBEzFf2ji94nRjpRwJSkeknNidbYc/edit?usp=sharing.