STEEM + Trading = MaskNetwork
My name is Vlad Cristian, and I'm lead programmer at MaskNetwork (www.masknetwork.com), the first decentralized social trading network that rewards both bloggers and traders for their time and effort. I decided to write this article because there are some similarities between MaskNetwork and STEEM and some of the STEEM users might also be interested in MaskNetwork.
MaskNetwork will be released in June, but the testnet is active. I will briefly present the features offered by MaskNetwork. The main difference from STEEM is that it rewards many user categories, not just bloggers or curators.
Rewards are paid in MaskCoins (MSK), which is the currency at the base of the network. No more than 21,000,000 MSKs will ever be created.
Bloggers
Like STEEM, MaskNetwork allows you to create a personal blog. Depending on the votes you receive, you will be rewarded every 24 hours. Half of this reward will go to those who voted your post. Also, bloggers will receive 0.0001 MSK each time someone reads their post regardless whether the post is up voted or not.
Binary options
The network allows anyone to launch their own binary options or buy binary options launched by others. You can bet on any price for which there is a data stream. For example, this is a binary option at STEEM price. When you buy a binary option, the address that launched it is automatically up voted. Based on these votes, those who write binary options are rewarded every 24 hours. Binary options have their own reward pool.
Margin Markets
Over MaskNetwork, a margin market allows you to place leveraged bets against the market owner. Margin markets prices are provided by data feeds. All your losses are market owner's gains and vice versa. Not only that traders don't pay any interest but margin market operators are rewarded by network every 24 hours. When you place a leveraged position using a margin market, you will automatically up vote the address that created the market. Depending on those votes, those who create and maintain margin markets are rewarded every 24 hours. For example on this market, you can trade STEEM at x100 leverage.
Assets
User issued assets are a type of custom token which users can hold and trade with no. Unlike MaskCoins, those tokens can be issued by regular users like you. They could represent a virtual share, a proof of membership, a real world currency or anything else. The network rewards assets issuers every single day. When you can send an asset to an address, you will automatically up vote the address that issued the asset. The more an asset is used, the higher the rewards will be for issuer.
This is a very short presentation of MaskNetwork. There are many, many other details.
For those who want to read more, a good starting point is www.masknetwork.com
MaskNetwork ICO will begin On May 25, May and those who want to get involved, can invest directly using STEEM.
i remember readinf of MaskNetwork literally years ago, though this will never go live ;)
We announced the project back in 2014 when not even one line of code was written. It was ready to go live last summer, but then i found STEEM and liked the idea so much i had to delay the project launch and implement the reward system, so we needed 6-7 months of development. Also the web wallet was a big project by itself. Java kernel has 80k lines of code while the web wallet around 70k. Lots and lots of delays....:)
is it mask up and running i invest last year and than you shut it down >>>>>>>>>>
It was only 40% ready and had a lot of issues. We had to rewrite some 20% of core code, implement all missing features, restarted the test net a month ago and now we are ready for the real launch at the end of June.
I just trayed to log with my username because i still have my investment in and says invalid username ! Is all old data and investmenst deleted ?
Update : Dont get defensive please , we all knew the risk in investing at new projects just will like to know some more things , like the one i just ask :)
The test net was reset multiple times. After we launch the real net we will recreate all accounts that were live in October last year, like we promised. In case your account is still not active, send me a PM.
Ok thank you very much if you like to get more attention for your project come to introduse this in Discord . Some of the best blogers here are around for chat and crypto tallk https://discord.gg/dseZdB this is the invitation link :)
Awesome. Look forward to seeing how it works.
Well trying is not bad. Let see how it goes.
🍒 I will give it a try tomorrow :)
Great post . Upvoted and following for sure! Thanks scotty777
I just went to your site and wanted to buy for a 100 steam coins. Where and how do I pay these coins, and how do I make sure you send it to the right email? :)
The address is indicated on purchase form (@masknetwork). You will also have to provide your email there.
Well, I "purchased" them, but when I selected Steem I didn't have any way of sending Steem to an address. I just had to fill in my email and how many Steem I wanted to send.. Neither did I get an email :(
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Was thinking if you can use a reputable site like bittrex for your crowd funding(Apx is doing exactly that) . Perhaps It's will be safer and easier for us to invest.
Lately, only a small percent of ICOs are managed by exchanges. There are multiple reasons.
OK then, will buy through the site
I'm definitely following you for more news :)