Ventura Labs Ep. 6 - Robert Myers, Joshua Brown & Ahmed Darwich
Robert (@0xcarro) is the Founder, Josh (@imjosh) is the CTO, and Ahmed (@0xSarokhan) is a Software Engineer of Manifold Labs (@manifoldlabs).
Timestamps:
0:53 - Introduction
3:21 - The Manifold Team
6:53 - Discovering Bittensor
11:06 - Understanding Bittensor
13:49 - The Power of Nature
17:16 - Foundational Members
20:16 - The Vision Behind Manifold
22:29 - Targon
25:53 - Subnet Dynamics
31:06 - Future Plans
35:13 - SN 4 Ecosystem
40:33 - Plan for Growth
44:04 - Partnerships
47:49 - Innovation Drives Costs Down
52:19 - dTAO
1:00:48 - The Future of Bittensor
1:05:19 - Advice for Builders
Ventura Labs Ep. 1 - Marcus Graichen
Marcus (@mogmachine) is the Founder of Taostats (@taostats) and Co-Founder of Corcel (@Corcel_X)
Timestamps:
0:00 - The Future of Bittensor
5:01 - Evolution of the Network
10:46 - Comparing Bittensor to the Past
12:43 - Association with Crypto is Limiting Growth
14:57 - Communities within the Network
21:41 - Building Better Subnets
28:25 - The Path to Decentralization
33:12 - Simplifying the Learning Curve
34:40 - Strategies for Miners and Subnet Owners
41:57 - The Potential for Breakthrough Moments
50:37 - Advice for New Participants
New Bittensor Subnet, @BittexSN, is live on Testnet
What is the Bittex Subnet?
The Bittex Subnet is an EVM-compatible decentralized exchange (DEX) designed to provide the best exchange rates for cryptocurrencies. It achieves this through a unique approach to liquidity provision and pricing. User App: https://t.co/Z2HnJcpU1H
Role of Bittensor:
Bittensor acts as an incentive layer. The best miners (liquidity providers) get the most emissions. Validators on Bittex's subnet notify miners (liquidity providers) about swap requests. Miners then return data (e.g., a swap ID) to validators, who subsequently return it to the user. The user can choose a swap ID to perform the swap. After the transaction, validators score miners based on their performance.
Key Features
1. Miners as Liquidity Providers:
In traditional DEXs, liquidity providers (LPs) deposit funds into a pool to facilitate trading. In Bittex, miners act as the liquidity providers & market makers. Via "Atomic Swaps" They deposit funds for each swap transaction, which helps in reducing risks like impermanent loss.
2. Atomic Swaps:
Unlike traditional liquidity pools, Bittex uses "atomic swaps." This means that for each transaction, miners deposit the required funds, making the process more efficient and reducing risks.
3. Proof of Bid (PoB):
This is the protocol that ensures everything runs smoothly on Bittex. Miners compete by placing bids to provide liquidity for each transaction. The best bids win, and this competition helps in determining the pricing dynamically.
**Image: PoB explained by sequence diagram**
Security measures
1. Bittex Smart Contract
The smart contract for Bittex Subnet governs the operations of the Bittex Subnet, ensuring that all swap transactions are executed accurately and according to the predefined rules. Contract Address:
https://t.co/blx4DMYMew
2. Bittex Security Profile on CertiK
The CertiK Security Profile for Bittex provides a comprehensive overview of the project's security measures, audit results, and ongoing monitoring
https://t.co/k9uPB2dsAF
Miner Scoring
1. Swap-Specific Scoring (85%):
-Base Reward: The base reward is determined by the bid amount for each swap.
-Top Bidders: Miners who are among the top bidders for a swap receive additional rewards.
-Winner: The miner who wins the bid for a swap receives a higher reward.
2. Seven-Day Performance (10%):
-Transaction Count: The number of successful swaps a miner has completed in the past week.
-Transaction Amount: The total volume of successful swaps a miner has completed in the past week.
-Weekly Reward Factor: Calculated based on the miner's rank in weekly transaction count and amount.
3. Overall Contributions (5%):
-Transaction Count: The total number of successful swaps a miner has completed.
-Transaction Amount: The total volume of successful swaps a miner has completed.
-Total Reward Factor: Calculated based on the miner's rank in total transaction count and amount.
Swwweeepp!
A wallet just swept 20 standard apartments! 🧹
In addition, some 🔥 announcements coming down the pipe related to our VR and WebGL Metaverse platforms, as well as our long-waited $TWR token. 🪙
The bull is back! 🚀
We have over 2500+ standard items. But we all like to flaunt our individuality and cool collectables. Check out some of these items that are in the queue!
@romoolo I’ve been hearing lots of people talk saying “crypto is dead” “NFTs are dead” but when the bull market inevitably comes back, they’ll be kicking themselves wondering how they missed their chances… Believe in the technology not the hype
🔹 Gasless & Sponsored Transaction
No more need to pay gas for every transaction.
Free transactions are a thing now.
AND, for txns that require gas,
You can set them to another wallet. so the company can pay gas on behalf of users
You can even use Stablecoins to pay for gas.