End-to-end product development from user feedback to shipping things people want.

Kitemaker Inc

At , we recently made the leap to for our React state management needs. Before using Recoil, Kitemaker used a simple state management solution built upon . We built Kitemaker to be super fast, responding to every user interaction instantly. However, in organizations with lots of data, we sometimes had a difficult time achieving this due to unnecessary re-renders. Kitemaker has a sync engine under the hood that is constantly syncing data in the background between clients. With this always triggered a top-down re-render and we had to rely on memoization to keep things snappy. Kitemaker Recoil.js useReducer() useReducer() We reached for Recoil to help us minimize re-renders in order to keep Kitemaker fast and responsive regardless of what changes are flowing in via background syncs. We chose it over other competing frameworks like MobX because we liked the explicitness of its API and its similarity to Redux which we were already familiar with. Additionally, the fact that the Meta team designed Recoil for the purpose of building performant UIs with large datasets was a major draw. While we’ve been very happy with the decision and we have seen the benefits we’d hoped for, it did come with some gotchas. A little terminology Let’s get everyone on the same page about Recoil’s terminology first: An is a piece of state stored by Recoil. In Kitemaker, we have items for things like work items, labels, users, comments and more atom A is a derived piece of state. It fetches data from atoms (or other selectors), and transforms them in some way. An example of a selector in Kitemaker would be “fetch all of the comments for this particular work item” selector Write fine-grained selectors In order to make your UI perform well with Recoil, it’s important to understand what actually causes renders. Fortunately, it’s pretty simple - if a selector returns a simple value (string, number, boolean), it triggers a re-render whenever that value changes. If a selector returns an object or an array, Recoil re-renders if the returned value is not referentially equal (i.e. ) to the previous value. === What this means in practice is that you want to write selectors that are quite fine-grained. Stick to simple values, avoiding arrays and objects where possible. Take for example the board view in Kitemaker: Let’s say we want to render the title of a card. We could write a selector that returns the entire atom, but if we did this, every single time that atom changed, we’d cause a re-render of the component. We don’t care about the properties of that atom, we just want the title, so we should write a selector like this: all const workItemTitleSelector = selectorFamily({
  key: 'WorkItemTitle',
  get:
    (workItemId: string | undefined | null) =>
      ({ get }) => {
        return get(workItems(workItemId)?.title;
    },
});

// only fetch what we need!
function WorkItemCard({ workItemId }: { workItemId: string }) {
  const workItemTitle = useRecoilValue(workItemTitleSelector(workItemId));
  return (
    <div>
      {workItemTitle}
    </div>
  );
} Now we’re only fetching the title, so only changes to the title will cause a re-render. Win! Dealing with selectors that return objects and arrays Before we said you should try to return as specific a value as possible from your selectors. But what if we have no choice but to return an object or an array from your selectors? For example, in Kitemaker, we often return a sorted list of IDs that we’ll then render in some sort of a list or board. Unfortunately, Recoil just doesn’t handle these cases very well out of the box. We that allowed us to provide our own equality checks for selectors (or selector families). We have a custom selector family implementation that looks like this: found a solution function equalSelectorFamily<T, P extends SerializableParam>(
  options: EqualSelectorFamilyOptions<T, P>
) {
  const inner = selectorFamily<T, P>({
    key: `${options.key}_inner`,
    get: options.get,
  });

  const priorValues: Map<P, T | undefined> = new Map();

  return selectorFamily<T, P>({
    ...options,
    key: options.key,
    get:
      (param: P) =>
      ({ get }) => {
        const latest = get(inner(param));
        const prior = priorValues.get(param);
        if (prior != null && options.equals(latest, prior)) {
          return prior;
        }
        priorValues.set(param, latest);
        return latest;
      },
  });
} The idea is that if two consecutive executions of the selector result in the same value (as defined by the supplied equality operator), the selector just returns the old value, thus preserving referential equality and preventing a re-render. To use it we do something like this: const filteredWorkItemsByStatusSelector = equalSelectorFamily({
  key: 'FiltereWorkItemsByStatus',
  get:
    ({ spaceId, filterString }: { spaceId: string | undefined; filterString: string }) =>
    ({ get }) => {
      const itemIds: string[] = getFilteredWorkItemsSomehow(get, spaceId, filterString);
      return itemIds:
    },
  equals: _.isEqual,
}); Now if the two arrays returned are equal (as per lodash’s isEqual function in this case), we don’t re-render. Hopefully Recoil will solve this for us in the future in a proper way 🤞There’s a promising but parameter on selector that should allow selectors to use value equality instead of referential equality. However, in our initial testing, this still failed to prevent re-renders from selectors that returned objects or arrays. yet undocumented equality cachePolicy Leverage transactions In Kitemaker, we have some complex operations. For example, adding a backlog to a space in Kitemaker creates a new board object, adds various columns to it, and more. In order to minimize re-renders (and to prevent users from seeing weird intermediate states) we want to apply all of our changes in a single atomic operation. Fortunately, Recoil has an awesome solution for this - . transactions In the case of Kitemaker, we always use transactions inside of a function (though there is a hook as well: useRecoilCallback() useRecoilTransaction_UNSTABLE() interface BulkItemCreator {
  create(items: Array<{ id: string; name: string }>): void;
}

export function useBulkCreateExample() {
  return useRecoilCallback(
    ({ transact_UNSTABLE }) =>
      (callback: (creator: BulkItemCreator) => void) => {
        transact_UNSTABLE(({ set, get }) => {
          callback({
            create(items) {
              // all of these set() calls happen in one atomic operation
              for (const item of items) {
                set(itemAtomFamily(item.id), item);
              }
              // you can use get() here, but only for atoms, not selectors
            },
          });
        });
      }
  );
}

// Simple example of using a transaction
function SomeComponent() {
  const bulkCreate = useBulkCreateExample();
  const handleClick = React.useCallback(() => {
    bulkCreate((creator) => {
      creator.create([
        { id: '123', name: 'Bob' },
        { id: '234', name: 'Susan' },
      ]);
    });
  }, []);

  return <button onClick={handleClick}>Create</button>;
} These transactions are considered an unstable feature (thus the naming) but in our experience, they work great. There are some gotchas, however - the main one being that you may not access any selectors inside of a transaction. This is because selectors are not updated as the individual operations of a transaction are applied to the recoil state, so the data in the selectors would be stale. This hasn’t been a big problem for us as the data fetching needs of this transaction code tends to be very simple. Also, there’s a performance overhead with creating the snapshot inside of a transaction, so keep this in mind. Watch your atom count As the number of atoms in Recoil increases, there’s some performance impact. There is a lot of bookkeeping for dependency checking, etc. inside of Recoil that does not scale linearly. Additionally, whenever you need to grab a snapshot, it gets slower based on how large your set of atoms is. As a result, you need to think a bit about how you bucket your data into atoms. Does every single object need to be a separate atom? Or maybe if you always access a list of items together as a unit, you can shove the entire list into an atom. Then you can still write nice specific selectors on top (possibly using the equality tricks above) to fetch just the data you need to minimize re-renders. Of course, selectors are not free and in some cases, changes to data may cause selectors to be frequently reevaluated. That means it’s a bit of a balancing act between specific selectors and managing your atom count. A rule of thumb is to group up atoms that are generally rendered together and which change relatively infrequently. Wrapping it up To summarize, using Recoil we were able to eliminate unnecessary renders in React. Instead of top-down, full-screen re-renders with a bunch of memoization, we now have a very minimal number of re-renders whenever our data changes. However, Recoil isn’t magic. It really pays to take the time to understand what things cause re-renders and other performance issues so you can avoid those landmines in your implementation. Want to learn more about Recoil or how we built Kitemaker? Always happy to chat on or . Twitter email This article was first published here.

The Lessons We Learned From Moving to Recoil.js  

Newton’s Laws in Society: How Social Forces Move Physical Bodies

সমাজে নিউটনের আইন: সামাজিক শক্তিগুলি কীভাবে শারীরিক দেহগুলিকে স্থানান্তরিত করে

Newtons Gesetze in der Gesellschaft: Wie soziale Kräfte physische Körper bewegen

Las leyes de Newton en la sociedad: cómo las fuerzas sociales mueven los cuerpos físicos

Les lois de Newton dans la société : comment les forces sociales déplacent les corps physiques

समाज में न्यूटन के नियम: सामाजिक शक्तियां भौतिक निकायों को कैसे स्थानांतरित करती हैं

社会におけるニュートンの法則: 社会力がどのように物体を動かすか

뉴턴의 사회 법칙: 사회적 힘이 육체를 움직이는 방법

As Leis de Newton na Sociedade: Como as Forças Sociais Movem os Corpos Físicos

Законы Ньютона в обществе: как социальные силы движут физическими телами

Newton'un Toplumdaki Yasaları: Sosyal Güçler Fiziksel Bedenleri Nasıl Hareket Eder?

Định luật Newton trong xã hội: Các lực lượng xã hội di chuyển cơ thể vật chất như thế nào

社会中的牛顿定律：社会力量如何移动身体

Until recently, blockchain infrastructure was mostly . In other words, all components of infrastructure, including consensus mechanisms, data storage, and smart contract logic, were built as a singular system. monolithic This lack of modularity has been a major drawback for ’s prospects, as builders have had to create their applications around the inflexible requirements and constraints of existing chains, networks, and nodes. Web3 Modularity rose in prominence as developers wanted more flexibility and variety; they wanted systems’ components to be able to be separated and recombined. Picking and choosing core components like , , and became important for builders who wanted to customize the stack for their use case. transaction execution transaction ordering data availability As Web3 infrastructure matured, this evolution toward modularity became evident in a few areas, from the Ethereum roadmap and proliferation of Layer 2s (L2s )and Layer 3s (L3s), to application-specific chains (app-chains), and more. Since the early days of blockchain development, Ethereum has grown into the “Mother Tree” of the Web3 forest. It’s evolved to become highly robust, yet less and less flexible to any major changes. Just as the roots of a tree anchor it to the ground, transport nutrients, and provide stability, Ethereum validators secure the network, validate transactions, and maintain the integrity of the blockchain. In other words, the root system (validators) is the lifeblood of the tree’s survival. Over the years, the larger and more distributed its root system became, the more robust and anchored the tree became. Everyone wanted to grow its leaves (applications) on top of the Ethereum tree. The more leaves the tree grew, the more congested the tree's transportation system (i.e., network) became - giving rise to the L2s. L2s made Ethereum more scalable. In the tree analogy, we can think of L2s as the core branches sprouting from the Ethereum trunk. Fundamentally, they couldn’t exist without the trunk (L1). They rely on the tree’s robust root system (validator set) for transaction settlement, but they’re a whole lot more flexible than the trunk. For example, as an application developer, you can pick whether you want an L2 with the fastest throughput of 65,000 TPS (e.g., Polygon) or the lowest computational costs (e.g., Arbitrum). This was one of the first steps toward “modularity.” The application developers wanted even more architectural flexibility - the ability to customize different elements of their chain - which is what drove the need for modularized L2-specific app chains. We can call them Layer 3s (L3s). In our tree analogy, L3s represent the “sub-branches,” or twigs, growing from the larger branches (L2) of the Ethereum tree (L1). Similar to how twigs are the most flexible parts of the tree, L2-specific app chains give the developer the most flexibility regarding the architectural choices they can make while building an application. For example, an app-chain developer might choose to modify by batching certain transactions together to give users fairer prices (and thus reduce MEV). transaction ordering Optimism’s OP stack and Superchain are the most mature examples of the “L3” product. The OP Stack has already gained meaningful traction - it’s being used to launch Coinbase’s Base chain, Zora Network, a new Binance chain, a public goods network by Gitcoin, and now Celo. A competing L2, Polygon, has also announced a similar L2 proliferation strategy for , seeking to be a network of ZK-powered L2 chains, unified via a cross-chain coordination protocol. Polygon 2.0 Last but not least, the current kingmaker of the L2 chains, Arbitrum, has taken a different approach by adding a layer. They’re enabling builders to launch new L3s known as chains, which settle first to Arbitrum, then eventually to Ethereum. Arbitrum Orbit In a preemptive effort to anticipate demand for the rise of app-specific roll-ups, we’re even seeing the rise of “roll-up as a service” providers, like Caldera, Eclipse, Cartesi, and Gelato. All these efforts are a clear sign that the future of Web3 development is modular, not monolithic. Clearly, the Ethereum “tree” is now rapidly growing in size, biodiversity, and flexibility - with more branches, twigs, and leaves of various colors and sizes. But there’s more to the Web3 forest than one beautifully biodiverse Ethereum tree. Just as and contribute to the diverse ecosystem of a forest, there’s a great diversity and efficiency growing within the blockchain ecosystem. different types of trees plants This biodiversity of the Web3 ecosystem now includes hundreds of L1 blockchains - including 450+ standalone L1s (i.e, Avalanche, Solana, etc), as well as application-specific chains powered by Cosmos-SDK (i.e., Osmosis). 60+ The latter trend cannot be underestimated, with large incumbent applications, like or institutions, like Circle, launching their own app-specific infrastructure to access a feature set that general-purpose infrastructure cannot accommodate. DyDx , This further underlines the move towards modularization. Just as the trees, plants, and other organisms in a forest are interconnected through various relationships, like symbiosis and competition, modular components in the blockchain ecosystem are growing to interact with each other - making this a highly “composable” forest. It’s now growing into a “LEGO forest,” wherein key components of the blockchain stack are also breaking off into a “plug and play” model. One example of this move towards the “plug and play” model is evident in the rise of the data availability (DA) layer solutions, like Celestia, Eigenlayer (Bloccelerate portfolio), and others. Just like one LEGO block can be stacked on top of another, these chains will be leveraged for the “data availability” functionality for other execution layers (e.g., roll-ups). For more details on data availability, __ __is a great blog to read. This analogy extends further with the new “restaking” primitive - this was a particularly popular topic at ETH CC. Restaking enables the validators of Ethereum to extend their service to other applications and app chains - as if the roots of the Mother Tree are now able to support the growth of other trees and plants in the forest. this Eigenlayer is also leading the restaking revolution, allowing applications to leverage the economic security of Ethereum instead of having to bootstrap their own validator networks ( ). There are a lot of exciting new developments, and modularity will enable the next wave of exciting blockchain applications. explained in an analogy by Sam Yilmaz Lastly, the Web3 middleware infrastructure, like wallets, is also becoming increasingly modular and easy to integrate with (e.g. Metamask Snaps allowing any chain to build its own Metamask integration). What are the key takeaways from this activity? It’s becoming increasingly clear that the Web3 ecosystem is growing into a true Amazon basin rainforest, where different species, organisms, and plants interlink in a complex and interconnected web of life. As this trend continues, there’s going to be a growing need for the various species - or blockchains and/or app-chains - to co-exist. This means cross-chain interoperability will only become more important. As the Web3 ecosystem is growing to be more modular, the builders will have increasing options for customization and modularity, but the jury is still out on whether or not most of the plants, or even the branches (L2s) and twigs (L3s) of the Ethereum tree will survive. Winters are getting harsher in the Web3 forest, after all. There’s a possibility only a handful of them will make it, while the rest will die from malnutrition.

The Future is Modular

🛡⚔️A new 🤴🏼King’s in town to claim his right to the DEX throne⚔️🛡. Decentralized Finance (DeFi) has taken cryptocurrency  a step further into making every financial service universally accessible to anyone in the world. Within the Blockchain ecosystem and DeFi movement, Decentralized Exchange platforms (DEX) have emerged to allow you to seamlessly trade popular tokens directly from your wallet. Recently, the popular UniSwap project which has features such as Automated Market Making (AMM) has solidified its status as one of the top DeFi protocols but there are of course still improvements available that can be made. In addition, the DEX ecosystem is in its infancy which makes design flaws and scam projects (or near-scam projects - we’re looking at you SushiSwap) rampant in the emerging world of decentralized finance. With these shortfalls in mind, 👑KingSwap takes inspiration from 🦄UniSwap and 🍣SushiSwap KingSwap brings the quality up 10 notches to provide you with the best core protocol designs you’re already familiar with while value-adding through design, credibility and efficiency that you deserve. WHAT IS 👑 KINGSWAP? 👑KingSwap is the newest DeFi liquidity pool platform that is an improvement over, and an evolution of UniSwap. In addition to offering off-ramp fiat currency converting solutions, KingSwap has added some new Blockchain community-oriented features to UniSwap's core design, which will help provide user-friendly real-time benefits in terms of price curves and contributor rewards. We are also a legal and corporate entity running the project with a recognized token issuer, instead of a totally decentralized DAO. Our protocol design aligns incentives for the users through revenue-sharing and network effects. There will also be a migration of governance into a foundation after the liquidity pool migration event. WHY IS KINGSWAP THE RIGHT CHOICE? ⚖️ KingSwap - a legal entity! With great power comes great responsibility. Everyone can recite this phrase but not just anyone can actually walk the talk. Most DeFi projects lack a legal structure which is a real cause for concern as we’ve seen founders flee soon after launching projects. KingSwap provides legitimacy with a credible team that’s backed by compliance with the laws of a strong regulator. Users of KingSwap will enjoy the benefits of DEX while keeping the project (a regulated entity) that issues your hard-earned $KING accountable. 💰Convert your tokens to fiat currencies and usage One of the hassles of DEXes is their inability to seamlessly convert cryptocurrencies to FIAT. With our integrated OTC portal, our all-in-one platform offers off-ramp FIAT conversions to easily switch your $KING to FIAT currencies. Alternatively, if you’re more of a cashless payment kind of person, you can choose to load it into our exclusive King card through which we offer off-ramp fiat conversions with debit cards that are on both Visa and Unionpay networks. 🤑Your share of the loot… multiplied! When you provide liquidity into the pool, you earn rewards in $KING. Similar to SushiSwap, your $KING will continue to earn a portion of the protocol’s fee, even if you decide not to participate in liquidity provision. With KingSwap, 10,000 $KING Rewards per Block are awarded to early adopters and liquidity providers (LPs). When you contribute to the liquidity pool and stay there longer, you earn $KING. In the UniSwap protocol, 0.3% of all trading fees in any pool are proportionately distributed to the pool's LPs. KingSwap believes that since the swappers are the ones that provide the revenues, they should be incentivized by cheaper transaction fees of 0.25% instead. Our token and liquidity pool design gives 0.2% directly to the active LPs, while the remaining 0.05% gets converted back to KING, which are distributed to the LPs. There is also a huge rewards pool that rewards LPs from the 10,000 $KING per block mined! ⚜️Pledge your allegiance and get rewarded Who doesn’t love free tokens? Secret airdrops worth up to 10 million $KING have been planned after the launch of KingSwap. To qualify, you will need to provide liquidity or engage in a swap within a selected date. The idea behind this is to extract maximum swappers and liquidity providers. Stay with us and continue living like a King! At higher tiers. enjoy 0% card transaction fees, higher interest and merchant benefits like FREE Netflix, Spotify accounts and exclusive members access to worldwide airport lounges and global co-working spaces when you stake your $KING with us. 🕹User-friendly interface At the basic interface level, KingSwap has a beginner-friendly interface that is easy to use. We share similar interfaces to UniSwap and SushiSwap. This means that if you are currently compatible with UniSwap/SushiSwap, it should be easy for you to switch to KingSwap. Our interface is quick, secure, and aids in providing a better experience. HOW DOES KINGSWAP WORK? Being a fork where we are only copying the core design isn't enough. New features and effective tools are needed to propel KingSwap to be the best DEX in the market. As there is no order book or any centralized party required to make trades, you might be wondering… how do trades happen without a third party? KingSwap works with a model that involves LPs creating liquidity pools. This model provides a decentralized pricing mechanism that efficiently smooths out third party depth. To fully understand how it works, we’ll give you the low-down on $KING, Nonfungible Tokens (NFTs), Liquidity Migration and our security. 👑 $KING $KING are designed as rewards for a High Yield Staking LP Token Model aka “earning tributes” - these tokens are given as rewards for liquidity mining. The $KING then allows holders to participate in the ecosystem and earn other perks and benefits. $KING holders can use these tokens as a medium of exchange whereby goods and services can be purchased or exchanged for other currencies from LPs. 🔄 $KING distribution If you are an existing LP in UniSwap pools or just searching for a platform to invest in and earn “tributes” from, you should definitely consider KingSwap. We have designed the token distribution mechanics to make it extremely easy and adaptable for existing UniSwap LPs to migrate to our protocol. The journey to greener pastures need not be long and arduous! Once LPs stake UniSwap or SushiSwap LPs into KingSwap liquidity pools, they will start earning tokens and rewards. The $KING per block allocated for LPs will be distributed equally among the LPs of the supported pool. $KING will also be distributed in LP “tribute” farming. 💎 KingSwap NFTs Early adopters and supporters can purchase KingSwap NFTs very soon. There are 3 tiers of KingSwap [King, Queen and Knight]  NFTs going at 0.2, 2 and 10 ETH each, which act as exclusive entries into the reward pools of $KING, in addition to unlocking a host of rewards and privileges that will be revealed in due time. 🚁 For all NFT holders and liquidity providers The earlier mentioned 10,000 Kings per block are not the only rewards - we also have a Secret 10 million $KING Airdrop for all LPs and NFT holders who have staked their tokens in liquidity pools. In order to win the secret $KING Airdrop, the providers have to stay for a minimum duration and stay within a selected date range. This will ensure that the liquidity providers remain at least until the airdrop. 💧The Nitty Gritty of Liquidity Migration If you’re familiar with the SushiSwap and UniSwap protocols, one of the best features to look out for in KingSwap would be our Liquidity migration protocol. KingSwap being a fork of UniSwap, will migrate all the liquidity tokens staked onto KingSwap contracts once we reach 100,000 blocks. During the migration, your Kings will be redeemed on UniSwap and new liquidity pools will be created on KingSwap from those tokens. The new pools will be similar to the redeemed ones, with additional “tributes” distributed to $KING holders. Upon the successful completion of migration, your converted tokens will fuel the first sets of KingSwap liquidity pools, and you, as an LP, can sit back as you watch your rewards stream in. 🚨Protecting the fort and ensuring security KingSwap has devised strategies to ensure project sustainability and project security audit. A small portion of each King distribution will be set aside for potential future setbacks and implementation of governance proposals. We believe in the security of our users and their assets, and we aim to work hard to eliminate any potential threats and risks. Before our launch, we have fixed all the bugs and security threats that were reported by UniSwap and other forks and clones of it. We also have a set fund to pay all bills for security audits. As for now, we are all set for a professional security audit. Our team will update the details of the audit on our Telegram group and Discord. Stay in touch! 📜 The Royal Decree aka Smart Contracts KingSwap’s smart contract protocols are intended to digitally facilitate, secure, and verify the performance of a contract. We aim to provide the best credible transactions without third parties. Our smart contracts are available at with Gravitas International license. Some of our codes are from other projects, including UniSwap / Yam / Compound / OpenZeppelin, and are subject to their licenses. Given below is the list of smart contracts with their explanation. GitHub KingToken: The token contract, with COMP/YAM voting functionality. Archbishop: Deposit LPs tokens to farm KING. KingMaker: Collect revenues, convert to KING, and send to KingRoundTable. KingRoundTable: Stake KING to earn more xKING. Migrator: Migrate MasterChef LP tokens from UniSwap to KingSwap. GovernorAlpha + Timelock: KING holder governance. UniSwap V2: For liquidity migration. All contracts written by KingSwap have reasonable test coverage. We will continue to work ourselves towards a better and more reliable protocol by testing more. If any of you have any suggestions or face any issues with it, please let us know privately via Discord or Telegram. We are open to suggestions and will gladly offer help. How you can participate: You can start staking your LP tokens to the KingSwap contract using the interface at from 10th October 2020 onwards. As soon as you stake your tokens, you will begin to earn KING starting from the first block.  Make sure to stake your LP tokens before that for maximum $KING. Kingswap.io JOIN US! KingSwap Website: Kingswap.io Discord: https://discord.gg/eZu4Tv Telegram group: https://t.me/kingswap Twitter: https://twitter.com/defi_kingswap GitHub: https://github.com/KingLuigy/KingSwap Youtube: https://youtube.com/channel/UCAHiU9LLE3cDauSfTWIB97Q Reddit: https://www.reddit.com/user/Defi_KingSwap Instagram: https://www.instagram.com/defi_kingswap FINAL NOTES: KingSwap is backed by a credible team and was built to conform to stringent regulatory requirements Users are able to convert their Cryptocurrency to Fiat currency through our OTC portal and they can choose to load their fiat monies into our issued VISA/Unionpay Cards Following the popular UniSwap liquidity pool model to reward the community by providing an avenue for liquidity providers to earn from transaction fees from swappers Early LPs (Liquidity providers) are able to earn “tributes” from Kingswap before migration of the liquidity pools There will be multiple secret airdrops for early supporters who purchase Kingswap NFTs after the launch of KingSwap, and for early liquidity providers and users of the platform.. Earn more $KING when you stake your $KING with us! Unlock more benefits for staking more $KING for a longer duration such as 0% King’s Card Transactions fee, Higher rewards earned from staking, and more merchant benefits such as: free spotify, Netflix exclusive member access to airport lounges, access to co-working offices globally, etc. THE TAKEAWAY: KingSwap is a new and exciting Decentralized Digital Exchange that challenges the competitive models and protocols of an already successful DeFi protocol – UniSwap. KingSwap is a fork of UniSwap with some new features and the key difference being autonomous community governance. With content for both beginners and more advanced users, we at KingSwap aim to open new ways to earn $KING in conjunction with the current pools being rewarded. This shall revolutionize the industry and bring benefits to all the involved actors.

The KingSwap Project - An Introduction

“There has been a desire to preserve a single notion of consensus around facts and events recorded in a single ledger, regardless of whether it makes sense.” — Cardano Team Gerolamo Cardano Bitcoin is blockchain 1.0 because it was the first distributed ledger. Ethereum is blockchain 2.0 because it was the first platform for . Since the introduction of both the Bitcoin and Ethereum protocols, a few problems emerged. Two gaping issues include the scalability of transactions for Bitcoin, and the bugs stemming from Solidity as the standard coding language in the Ethereum network. Named after influential Italian Renaissance polymath, Gerolamo Cardano, is a blockchain protocol currently being developed by IOHK (Input Output Hong Kong). Cardano aims to address these issues (among many others) and create a platform to execute smart contracts and to develop and run decentralized applications more efficiently (in addition to launching side chains, multi-party computation and metadata.) developers to create decentralized applications Cardano (or ADA) The protocol itself launched on September 29th, 2017, after two years of rigorous research and development by a robust community of academics comprising of the world’s leading scientists, cryptographers, and researchers. The aspect of Cardano’s peer-reviewed development process differentiates itself heavily from other blockchains. The protocol is still under the ‘Byron’ bootstrap phase. Phase II is called ‘Shelley,’ and is slated to launch halfway through 2018. As it stands with other blockchain protocols with similar goals, on CoinMarketCap ( ), (with a , with a Cardano is ranked 7th with a $6.46 billion market cap NEO at 11th $3.99 billion market cap) EOS at 5th $10.58 billion market cap) as of May 16th. What is the Philosophy Behind Cardano? The motto of Cardano is “ .” The typical process in approving a feature to be included within the protocol is handled by huge collectives of people following rigid guidelines and processes. As mentioned previously, peer review is a fundamental characteristic of the Cardano network. process over people For example, say a developer has an idea on implementing fees within the protocol. A paper is written on that particular feature, and multiple cryptographic experts, developers, and scientists review it to find holes in the programming language’s logic to make sure it has a robust structure. Experts are critiquing experts. Many argue that this philosophy is a valid method of developing cutting-edge technology. An Ambitious Undertaking with Government In a nascent stage, the crypto currency landscape is fairly unregulated by governments all over the world. Another differentiator is Cardano’s ambitious goal of complying with from jurisdictions all over the world. Without much precedent or past legislation relevant to blockchain, the willingness to go through formal government regulations is quite the undertaking. Cardano (like NEO) looks to seriously engage with real-world regulation. One argument is that to effectively interact with legacy systems (like governments and banks), there needs to be a fair degree of integration and some communication system in place between the blockchain world and legacy world to provide value to society. regulations The Technicals of Cardano Haskell Haskell is the standard programming language of Cardano. The language is praised by some in the blockchain community as concise in its logic. Less likely to produce errors, Haskell also changes the way some programmers think and work. By forcing programmers to be more concise in their logic, features can be reused. Afterwards, formal methods are used to to check their protocol. Basically, there are rigorous executable mathematical models that determine potential network faults. This ensures a greater level of certainty to predict the level of computing within the network. The use of formal methods/verification yields high assurance software or high assurance code. Industries where reliability is paramount ( use high assurance software. An institution like NASA, operating with a $2.5 billion investment for its Mars rover, is still going strong after ten years, because of high assurance software. In the context of cryptocurrency, such as military defense, nuclear reactors, and medical machinery), it’ll prevent something like the DAO from occurring again. Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol , was a peer-reviewed whitepaper with consideration to the long-term wastefulness of energy when it comes to proof of work algorithms. The Ouroboros proof-of-stake protocol is the backbone of the Cardano blockchain. Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol According to Ouroboros ensures randomness when it comes to electing slot leaders, so long as they have a stake (>0 ADA) in the Cardano network. Ouroboros uses multiparty computation to achieve randomness, with results being shared from elector to elector after an independent coin toss. The importance of randomness makes it so that there will not be a single point of failure- if slot leaders were predetermined, it would leave the protocol vulnerable to hackers. Ibtimes, The Three Main Goals of Cardano 1. Interoperability Exchanging Bitcoin to Ether cannot be executed without an intermediary…. yet. Cardano aims to make a blockchain that can communicate with other blockchains. In addition, there can be metadata attached to each transaction, but it should be rightfully up to the user on whether or not that data will be publicly made available. There are over two thousand cryptocurrencies available for exchange right now. “Cardano does not try to be the Columbus of cryptocurrencies. It tries to be the ocean that will take Columbus to the land”- CryptoBasic Cardano also operates off the notion that there will not be a token to rule them all. Ethereum, Bitcoin, Swift and ACH protocols (used by institutional banking networks), and Ripple all have their own languages. The problem is that if there is a canonical way of communicating with all these different systems, value is fragmented. The kingmaker will be the small on-and-offboarding hubs of transferring value between systems. As of now, exchanges are the sole medium of interoperability between tokens but they are very fragile instruments, subject to draconian regulatory policies, according to Hoskinson. have been around since 2012, but the basic concept is that there is some way of structuring information from one chain to another such that when a transaction is set, the compressed form of information can indicate whether or not it is a legitimate transaction. While sidechains do solve the issue of blockchains being able to understand each other in a specialized way, there lies the issue of the blockchain world being able to communicate with the traditional finance establishment. Sidechains Hoskinson identifies the three main issues (within interoperability) as metadata, attribution, and compliance. Metadata is the context of the transaction, and is not well provisioned within the crypto space. The metadata in traditional finance, however, is extremely valuable. Metadata is incredibly personal and private, and struggles to find its place on the blockchain. Everything on the blockchain is immutable, and very sensitive information made public is not desirable by all users. Attribution is about the identify of the actors involved in each transaction (an aspect of metadata, but perhaps the most important one). Compliance is a yet-to-be-determined aspect of the blockchain space that will unfold with time. 2. Scalability Transactions carry data — with more data, requires more bandwidth. If it goes to millions and billions of users, it might require mega or gigabytes worth of data. Ouroboros is the consensus mechanism to solve this. It breaks the world into epochs. It takes a look at the distribution of tokens, and at a random source of numbers, elect slot leaders. Slot leaders effectively do the same thing as what Bitcoin miners would do. A big difference is that they don’t require the massive computational power needed by Bitcoin miners. It is therefore much more cost effective. Slot leaders can mine and maintain other blocks on other chains. Cardano divides the time into epochs (split into slots). The network elects slot leaders for each slot. Slot leaders verify transactions, and put them into blocks. If the slot leader fails to show up to execute, he loses the right to produce a block. Then he needs to wait to be reelected to the network. This is highly scalable because there can be multiple epochs running at the same time. Blockchains are stored in a P2P network, where each node receives a copy of the ledger (and new transactions). If there were thousands of transactions per second, the nodes would need a lot of bandwidth to continuously download them all. Cardano wants to divide the network into subnetworks. It uses RINA (Recursive InterNetwork Architecture) to solve this. RINA structures networks with policies and clever engineering principles. The goal is to grant users scalability, privacy, transparency guarantees that are enjoyed by the TC/IP protocol. It is a mechanism that will be set in place as Cardano scales from hundreds to thousands to tens of thousands transactions per second while communicating with the TCP/IP protocol. 2b. Data Scale Blockchains store things forever (hopefully). But the team behind Cardano recognizes that not all nodes must have a complete copy of all blockchains at all times to maintain the integrity of the protocol. With more TPS, there needs to be more data. Blockchains and their block size can potentially will grow from megabytes to exabytes in the long-term. In a replicated system whose security models rely on each node to maintain the blockchain, it’s not feasible for hardware devices. Subscriptions (or partitioning, where a user doesn’t have a full copy of the blockchain, have a chunk of the blockchain. There’s a notion that all chunks can be put together if possible.) With partitioning, similar to Bittorent, many more resources can be accessed at a more efficient cost. Another solution to address data scaling is compression/sidechains. A sidechain is the notion of creating a compressed representation of a blockchain, and creating interoperability and translating transactions across difference blockchains. The Cardano protocol will contain a high level of assurance involving all the transactions that will be going through the network. 3. Sustainable Development There’s the issue of funds potentially running out for teams of developers behind a particular blockchain protocol. The Cardano Treasury is a solution to that problem. The Treasury will receive a small amount of all transactions. It’s a sort of a smart contract that can release funds to developers. Developers can submit ideas to the network, to be approved by the community. The treasury, upon collective votes, can decide which developer gets money. The Treasury is the way in which continuous improvements can be made to the network. the consensus algorithm incurs a transaction fee, that is determined by a particular equation: a + b*c is a constant = .155381 ADA, is also a constant = .000043946, = size of the transaction in bytes a b c Cardano Corporate Structure The overarching corporate structure of the Cardano blockchain comprises of three entities. , based in Switzerland, is the non-profit entity that oversees regulatory compliance, community management, and partnerships for the Cardano blockchain. (IOHK) is the research, development, and engineering entity, (founded by Hoskinson), behind the Cardano blockchain. is the for-profit, venture capital firm behind the Cardano blockchain that aims to establish practical and commercial startups that will be built on top of the Cardano blockchain. The Cardano Foundation Input Output Hong Kong Emurgo The Team Charles Hoskinson Charles Hoskinson — Founder and CEO Hoskinson has held a number of positions within the public and private sector, according to IOHK’s website. He is perhaps best known as one of the cofounders of Ethereum (with Vitalik Buterin), and former CEO of Ethereum. In 2015 he partnered up with the Cardano Foundation and founded IOHK as a contract team to develop the Cardano protocol up until 2020. He has assembled a team of distinguished academics and doctorates, scientists, business, technical specialists, and software engineers from all over the world to develop a truly scientific approach rooted in philosophical fundamentals inherent to the blockchain community. Jeremy Wood — Co-founder and Chief Strategy Officer Jeremy Wood also worked with Ethereum in 2013, managing operations. After leaving Ethereum, Jeremy worked as a consultant before starting Input Output with Charles Hoskinson in 2015. What are some example use cases of Cardano so far? Japanese-owned, but South Korean-adopted mobile payments platform Metaps Plus most recently announced a partnership with Cardano. Metaps Plus verifies about 10 million mobile to offline transactions per year, . The adoption will occur around Q3 2018 and will be used in over the adoption signifies cryptocurrency integration with mainstream service providers. according to cryptoninjas.net 33,000 offline stores and promotions; Charles Hoskinson after signing an MOU with the Ethiopian Ministry of Science & Technology. Courtesy of TheNextWeb[/caption] According to , Hoskinson most recently signed a memorandum of understanding (on behalf of Cardano), with the Ethiopian Ministry of Science and Technology for developments in agriculture technology. Ethiopia is known historically as the birthplace of coffee (dating back to the 10th century); the partnership between Cardano and the Ethiopian Ministry of Science will help coffee growers prove the the source and purity of their coffee beans. Additionally, a study will be conducted to evaluate how tracking coffee throughout the supply chain can affects its growing, harvesting, roasting, and wholesale life cycle. The project also aims to cut down on fraud and to make land registry more transparent (similar to efforts made by the Kenyan to verify land registries through distributed ledger technology). CCN ICO & Tokenomics The protocol generated about $62 million via token crowd-sale between September 2015 and January 2017 with heavy KYC-requirements. It was marketed heavily towards the Japanese, and reports indicate that about 95% of those who participated in the ICO were of Japanese descent . (according to CryptoCandor) : circulating supply is 25 billion tokens, and there is a maximum supply of 45 billion. As of May 16th, 2:42 EST, Cardano is trading at $0.25 on CoinMarketCap. Cardano DISCLAIMER: We are in no way associated with the Cardano team. Neither is this meant to be financial advice. Whatever follows just reflects our understanding of the project, and our personal opinion on its outlook. Here are links to the Cardano project , and the fundamental principles behind the project. If you liked this content, please subscribe to . You will get early beta access to Lunar Labs, a suite of tools to optimize your cryptocurrency trading experience, as well as the latest crypto news and market updates sent directly to your email. You can also visit our site by to learn more about what we do! our mailing list here clicking here Originally published at lunardigitalassets.com on May 16, 2018.

Cardano (ADA) — Fundamental Analysis of a Smart Contract Platform

Image Credit: Pawel Kucynsky Last month was a strange one. We saw mainstream media questioning and Cambridge Analytica practices after recent concerns over the US election. sums it up in one frightening sentence: Facebook The Guardian They had manipulated the voters of democracies across the globe, notably in the US, with unsourced propaganda that was not necessarily true; and boasting of sting operations and honey traps Cambridge Analytica took part in the yes for the campaign, the election of Donald Trump, Ted Cruz’s campaign, and in (44 apparently in 2014, just for the US). They are now a massive Brexit dozens of local election political force, engaged all across the globe with a strong preference for conservative candidates. While Cambridge Analytica was already , they weren’t very secretive about their intent; here’s what they boast about in their promotional videos: advertising its services on Youtube since August 2015 On the American market, they claim to have “up to 5,000 data points on 220 million Americans” “We go beyond big data, we add an extra layer of personality data to get down to an individual level” The activity of Cambridge Analytica and its impact over elections have been well covered, or the . Now, even Google will tell you: such as in The Guardian’s Cambridge Analytica files NY Times What’s less discussed is how could we even get to this point? Considering the company’s goals and practices, abuses should have been expected and prevented. Let’s broaden the discussion and address the tradeoff made with “free” services instead and the consequences of this data theft: a loss of political and personal power. THE ADVERTISING MODEL: THE NECESSARY PAIN? It’s actually a quote from Mark Zuckerberg that got me started on this article. In the when asked about the , he didn’t exactly answer the question yet provided a fascinating response: Ezra Klein Show limits of Facebook’s current business model You know, I find that argument, that if you’re not paying that somehow we can’t care about you, to be extremely glib and not at all aligned with the truth. The reality here is that if you want to build a service that helps connect everyone in the world, then there are a lot of people who can’t afford to pay. And therefore, as with a lot of media, having an advertising-supported model is the . only rational model that can support building this service to reach people He presents the advertising-supported model . I would argue instead . Essentially, advertising allows generating revenue out of each/most users of the service. Because of the monetary incentive tied to ads, the provider tends to focus on collecting more data and increasing the user base even further instead of actual development of the service. It can’t be sustainable. as the only rational one able to bring free services to the world it’s only the easiest way As they restlessly harness data, . Facebook is now the kingmaker, or is it already the king? If Facebook is king, it’s a sneaky one: he’s being secretive about its regal nature. They didn’t come public about the Cambridge Analytica scandal, they waited for the public to notice and patiently prepared. online services gain actual power and influence on individuals and societies , he develops a grandiose and frightening vision for the social network, as What we’re seeing today is only stage 1. In a manifesto written in 2017 about the future of Facebook “the social infrastructure for the global community”. Yet, Facebook isn’t a lone wolf. There is a whole industry built on similar concepts: online advertising. While Cambridge Analytica and Facebook are probably at fault, many other companies such as Google, Yahoo, or Baidu have similar practices. A whole industry is at fault. A CROOKED INDUSTRY The advertising industry has always been ripe for abuse and scams, but . Abuses are common, both for advertisers and other actors. digital advertising brought it to another level Taking a closer look at the industry, you uncover several battles being lead all at once. First, . On the advertiser side, botting and click-fraud are massive. To top this all up, users, annoyed by the evermore intrusive ads, are now fighting back. shady practices are rampant in the industry ABUSES AND SHADY PRACTICES Abuses and misleading tactics are spread all around the industry on all kind of ads and devices. On mobile, apps and games may have , requiring unnecessary permissions (contacts, pictures, files…), which allow them to collect unnecessary data. Unsurprisingly, the Facebook app is among one of the most demanding in terms of permissions. aggressive data collection practices On desktop, there are intrusive banner ads and pop-ups all around deteriorating the browsing experience on the web. Worst, there are also much more intrusive practices such as (your beloved grandma’s toolbar) . spywares bundled with free softwares A glimpse in toolbars’ hell If scammy tactics are common for advertisers, brands pay the price for it as automated clicks are hard to distinguish for real ones. PRACTICALLY IN A CIVIL WAR Bots or automated activity is indeed massive in the online advertising world. It’s hard for brands to recognize these practices, and it allows the ad seller to increase their profits. AKA, why are they so many bots on Twitter? About 20% of all accounts are bots (fully automated), and . So, if Twitter was to take actual measure against automated activity, it would risk losing up to 40% of the impressions it sells to advertisers. at least 20% others use automated methods The industry itself is well aware of the issue, the estimates that . The total loss is estimated at $50bn a year, roughly a third of the current online advertising industry yearly revenues. World Federation of Advertiser between 10 to 30% of the slots are never seen by consumers because of fraud USERS ARE FIGHTING BACK TOO On top of the click fraud, you must add another stream of lost revenues for advertisers: users using an ad blocker. To protect themselves, surfers took matters in their own hand and developed Ad-Blockers extension, such as or . NanoBlock uBlock origin Considering how intrusive and annoying ads have become, it was bound to happen. Because less users now see the ads they host, media advertising revenues dwindle putting their very subsistence at risk. While adblockers minimize annoyance on the user side, it doesn’t solve the problem at all at the industry level. Image Credits On one side, installing a Firefox/Chrome extension come easy for some, many don’t know about them or even about ad blockers. Only the most tech-savvy users tend to use ad blockers. However, , some websites are now blocking access to users with an ad blocker enabled. Luckily, blockers currently have the final world with anti-ad blocker defusers like . It’s an ongoing back and forth. the ad industry is fighting back Nano Defender The advertising industry is mined by vicious circles of abuse that lead users to fight back. Since it lowers their revenues, media and advertisers are pushed towards even more intrusive advertising and data collection practices to try to break even. The whole advertising model is unsustainable. The actual consequences of the development of free services spread all the way down to the individual level. The tributes we pay is already massive. These include the abuses within the industry, the ongoing war with the users but most importantly the political clout claimed by online service which now makes them able to coerce public opinion. It’s not only about Cambridge Analytica, it’s much bigger than this. I share on Zuckberg’s hearing: Max Evans views “Words will be said, apologies noted, laws passed, but the problems will grow. Companies will not moderate their behaviour totally because they only have to accede to individual nations”. If the state is unfit to deal with this, we have but one option left: do something about it. The advertising model is not only tendentious but perverse. Is it really the only option Zuck, or just the one that happened to be proposed first and quietly established as a standard? Other models that allow a fairer distribution of the values between all the actors of the ecosystem exist. Let me know if you liked this article and you can keep pressing 👏up to 50 claps. check out my wiki for more content like this. Don’t forget to clap it to help it spread:

Facebook X Cambridge Analytica : the hidden cost of free services

TL;DR NOIR , a Sparkling Rosé produced using the Méthode Traditionnelle technique, will be offered exclusively as a dynamically priced token, $NOIR, and limited to just 777 bottles (777 tokens) New Moon $NOIR token is the first wine token ever created and sets new standards for collectible wine trading phygital When a $NOIR holder wants to redeem their token for a physical bottle, the token is burned, thus reducing the total number of $NOIR in circulation Combining wine purchasing via a redeemable token and NFT creates verifiable on-chain proof of its authenticity and ownership Update: The INO has sold out! In anticipation of the $NOIR launch, beginning on December 18th, NOIR will conduct an Initial $NOIR Offering, or INO In the future full launch, you will be able to buy, sell, or redeem $NOIR through , and $NOIR will be fully tradable on noir.digital polkaswap.io We are proud to build our new project on the and be amongst the first to utilize the innovative technology and expansive possibilities that SORA offers its community. SORA Network NOIR ‘New Moon’ and the $NOIR Token At the onset of 2022, no wine company in the world is better positioned in the emerging intersection of wine and cryptocurrency than . Since its inception, NOIR has intensely brand-aligned with crypto and its core values. NOIR was the first company to accept the SORA $XOR token as payment, and became the official beverage of the . NOIR SORA community Over the last few years, NOIR has established a presence within the crypto space, sponsoring events and parties at Bitcoin Miami, #PolkaswapMiami, , Signal SF, , and many others, supplying a delicious drink for the crypto community to meet and toast with. Sub0 NFT.NYC Our first product, a slim-canned Pinot Noir Sparkling Rosé, has been enjoyed by wine enthusiasts and crypto traders all over the world. NOIR recently won the silver medal at the 2021 Monterey Wine Festival, one of the California’s oldest and most prestigious wine competitions, beating out bottles from renowned wineries. NOIR was served at The Malingering Eye show at Salon 94, an NFT presentation during NFT.NYC 2021 Moving forward, NOIR’s goal is to expand on our by creating value propositions for both wine collectors and crypto-enthusiasts through new product innovations. unique position in wine and crypto NOIR , a Sparkling Rosé produced using the technique, will be offered exclusively as a , $NOIR, on the SORA Network, and limited to just 777 bottles (or $NOIR tokens). New Moon Méthode Traditionale dynamically priced token Bottles of NOIR are only attainable by redeeming the $NOIR token. These tokens are tradable and redeemable worldwide, wherever it is possible to legally ship wine to. Redeemers will not only receive a luxurious, ultra-rare bottle of our sparkling wine, but also an exclusive NFT, otherwise not available to the public. New Moon Though this concept is unheard of for a wine company, we believe this is a business model all major luxury spirits brands will evolve towards by 2025. We are proud to build our new project on the and be amongst the first to utilize the innovative technology and expansive possibilities that SORA offers its community. SORA Network NOIR: First in Many Categories NOIR has always imagined new ways to bridge wine and crypto-economics, starting by being the first company to accept $XOR as payment. With our newest release, we have reached a new milestone that we are excited to share. Each token is tied to a bottle, so buying $NOIR tokens is the same as buying our bottles of luxury wine. The $NOIR token is the first phygital wine token ever created and sets new standards for collectible wine trading. In another first, NOIR is the first dynamically priced wine to use a continuously priced XYK curve. Aside from Uniswap’s anomalous project, which successfully illustrated the power of dynamically priced collectibles, there are almost zero examples of any products whatsoever priced using a . Unisocks bonding curve The project Unisocks Bonding curve governing SOCKS price. Source ( ) Uniswap Twitter NOIR is the first edition of (physical + digital) products that will appear on , our new platform for buying, selling, and redeeming $NOIR. When we talk about phygitals, we speak of a future where every physical object is digitally connected to the internet and the blockchain. New Moon phygital noir.digital Wine Investing and the Luxury NFT Market There has always been a link between luxury goods, such as high-end wines, and investing. Historically, wine investing has been reserved for the elite, with returns outpacing art, bonds, and other alternative investment classes. Ever deflationary, wine investments have historically offered returns that are not correlated with traditional market cycles. The recent rise of the NFT movement, as well as the future Metaverse, have created new value propositions in this space. was recently quoted in saying, “ ” Morgan Stanley Business Insider Luxury-branded non-fungible tokens could become a $56 billion market by 2030 and could see “dramatically” increased demand thanks to the metaverse. This newly emerging marketplace already includes fashion brands such as and , but in the coming years, this will foreseeably expand to other tradable luxury markets such as fine wine, supercars, and real estate. Gucci Balenciaga An NFT house, named ‘Mars House,’ a digital artwork by Krista Kim, has sold for more than $500,000 Combining wine purchasing with an NFT also creates verifiable on-chain proof of its authenticity and ownership. The French publication , based in Bordeaux, published a shocking estimate that 20 percent of the wine sold on the international market is fraudulent. NFT proof-of-ownership will become a standard in verifying the authenticity of not only collectible wines, but all luxury goods. Sud Ouest Ancient Winemaking for the Future Economy is made using the time-honored Méthode Traditionnelle champagne-making technique. Méthode Traditionnelle is a labor-intensive process, whereby wine undergoes a secondary fermentation inside the bottle, creating the bubbles that we all love. All champagnes and most luxury sparkling wines are made using this technique. NOIR New Moon Sparkling wine while it undergoes its secondary fermentation in the bottle This rigorous process was executed by our master winemaker, , who was awarded the at the San Francisco International Wine Competition, the largest wine competition in the world. His ultra-boutique wines routinely receive point reviews. Fox is dedicated to producing small lot, handcrafted bottlings of exceptional quality Rhone varietal wines from the most premium vineyards in Santa Barbara County. Blair Fox Andre Tchelistcheff Winemaker of the Year Award 90+ The 100% Grenache grapes for NOIR _New Moon’s brut style sparkling rosé were picked from his organically grown, hand-farmed estate vineyard at low sugars with a low pH and beautiful natural acidity in 2019. The grapes were destemmed, crushed, pressed, and settled before being racked into neutral French oak barrels for fermentation and aging. Finished with a final dosage under the New Moon. The end result is a luxurious, creamy mousse texture with notes of toasted brioche, ripe strawberry, and apricot jam. Drink the Moon The Moon is an important symbol for NOIR. We incorporate several biodynamic techniques into our process and harvest under the Full Moon. The gravitational force of the Full Moon pulls water and nutrients from the soil into the vines and creates the juiciest grapes to hand-pick. Night harvest under the Full Moon The New Moon is when the Sun and Moon are aligned, with the Sun and Earth on opposite sides of the Moon. New Moons represent new beginnings and are a prime time for manifestation and intention-setting. New Moons in astrology mark the start of a new lunar cycle. We crafted the final under the New Moon. Dosage is the last step before final corking. This is the addition of a small quantity of ‘liqueur de dosage’ to the wine, which determines the style of sparkling wine. In the case of , we are considered a , which is a dry style under 12 grams of sugar per 750 ml. dosage NOIR New Moon Brut On a related note, an interesting theory has emerged on how the lunar cycle pertains to trading. New and Full Moons are often pivot points towards bearish or bullish momentum, with New Moons often corresponding to local market tops and Full Moons often corresponding to local market bottoms. Wen moon? $NOIR Tokenomics $NOIR’s token supply truly represents the rare and collectible, as . As stated earlier, $NOIR follows an XYK, continuous pricing curve. Meaning, , however, they can also be sold back into the liquidity pool at any time, thus creating a marketplace for $NOIR. there will only be 777 NOIR tokens/bottles ever produced every NOIR token sold increases the cost of the next You will be able to buy, sell, or redeem the wine through . $NOIR will also be fully tradable on at launch. Those who are interested in getting exposure to $NOIR, but don’t necessarily want to buy a full $NOIR token can purchase fractional amounts via Polkaswap. However, noir.digital polkaswap.io you need at least 1 full $NOIR token in your account to redeem. 1 $NOIR token entitles you to 1 of 777 limited-edition, hand-numbered bottles, shipped to you ( ) anywhere in the world, where it is legal to ship wine. $NOIR is deflationary. or your wine broker When a $NOIR holder wants to redeem their token for a physical bottle, the token is burned, thus reducing the total number of $NOIR in circulation. In addition to claiming their physical asset, NOIR token redeemers are eligible to receive several exclusive benefits: Redeemers automatically become members, which entitles them to discounts on NOIR products and VIP access to NOIR events. NOIR Club Redeemers also receive an NFT per bottle, limited to NOIR redeemers only. This NFT is your VIP pass IRL and creates verifiable on-chain proof of your bottle’s authenticity and ownership. Initial $NOIR Offering (INO) In anticipation of the $NOIR token launch, beginning on December 18th, under the Full Moon, we will conduct an Initial $NOIR Offering, or . INO Every NOIR token is tied to 1 of 777 hand-numbered bottles of NOIR’s Sparkling Rosé — the first edition of $NOIR, and the world’s first dynamically-priced wine. New Moon There will be a total supply of 777 NOIR tokens, of which, 77 $NOIR tokens will be made available for the Initial NOIR Offering. All accounts will also receive a limited edition NOIR NFT, which will only be available to INO participants. The , priced at ( ). maximum allocation per account for the INO is 1000 XSTUSD 250 XSTUSD/NOIR four tokens/four bottles Please note: Do not send more than 1000 . If you send more, it will still be regarded as 1000 XSTUSD. No refunds will be issued. The INO will close at 77 $NOIR tokens (77 bottles). XSTUSD We will announce on our official channels when the INO closes. 🥂 Update: The INO is now closed. Thank you for participating and stay tuned for launch updates The INO has closed on noir.digital $NOIR token has not been released yet. Do not fall for fakes! We will make an announcement when the $NOIR token is released and the site is fully launched. Join our official chat.. IMPORTANT: Telegram Subsequently, many exciting and unexpected future editions of NOIR will be released later in the year. We are thrilled to plant the flag and set the foundation as the first brand in collaboration with to forge a new business model for luxury wine. SORA For any additional information, please join the NOIR and follow us on and . Telegram Twitter Instagram For press or other inquires, please contact us at drinknoir@gmail.com 🥂 Thank you and cheers!

Introducing $NOIR, the World’s first Phygital Wine Token

Crazy things happened in 2021. The . Reddit vs Wall Street. January's . Battle of the Joshes attack on the US Capitol But nothing beats the in 2021. explosion of NFTs NFTs may have been floating around since 2015, but they only gained massive popularity in 2021. Some NFTs for millions of dollars! sold Although an emerging technology, NFTs in business have become a hot topic. This article explains how to use NFTs for your business and what to know before delving into these digital assets. Let's dive in! Introduction to NFTs NFTs are digital assets that exist on the blockchain. Each NFT is a unique property that cannot be traded for another. That's why they are "non-fungible" ('NFT' is short for "non-fungible token"). You can exchange a fungible asset for another asset of equal value. A dollar bill is fungible, so you can trade it for another dollar bill or buy a cup of coffee worth a dollar. But you cannot exchange an NFT and get a similar NFT in return. Each NFT is a unique blockchain item, complete with its digital signature. NFTs thrive on scarcity, like one-of-a-kind Pokemon cards, original Renaissance-era paintings, or limited-edition Nike sneakers. Because NFTs have a digital signature, you can always prove ownership and validity. To verify if someone owns an NFT, simply cross-check the meta information with publicly-accessible blockchain records. How Do NFTs Work? So, you understand what NFTs mean. Now, it's time to see just how they work. NFTs are created ("minted") and stored on a blockchain. Most NFTs were minted on the Ethereum blockchain in the early days, although other blockchains now offer them. An NFT can be a digital representation of virtual or physical items. That includes artwork, music, , video snippets ( ), images—if it has a digital footprint, it's NFT material. Heck, Twitter founder Jack Dorsey's . GIFs a la Grimes first tweet is an NFT worth $2.9 million Rarity increases the value of NFTs. At least, that explains why some are forking over millions of dollars for them. Owning an NFT gives bragging rights, just like owning an original Da Vinci painting or an autographed Harry Potter novel. Why Are Brands Using NFTs? At first, NFTs were used by artists who wanted to control the sharing and distribution of digital art. Artists like and have made millions from selling artwork as NFTs. Beeple FEWOCiOUS However, brands are quickly jumping on the trend and creating NFTs, too—but for different reasons. Most branded NFTs rely on the following qualities of these digital assets: Owning unique artwork, image, song, or virtual clothing/real estate and knowing it cannot be copied affords people a sense of individuality. 1. NFTs are a means of self-expression. While someone may buy an NFT Gucci for self-expression, another buys it hoping for a future increase in the item's value. Given that NFTs are rarely mass-produced, they make for somewhat sensible investments. 2. NFTs thrive on scarcity. 3. That fancy concept you’ve been hearing lately? It's here already. Virtual worlds like Decentraland allow users to purchase virtual houses and clothing and build entire lives online. As the Metaverse continues to grow, more people will spend time in these virtual worlds, and they'll need virtual assets, such as NFTs, that can be used there. NFTs power the metaverse. "Metaverse" Buying branded NFT is perhaps the greatest stamp of approval customers can give the businesses. This is especially true of limited-edition NFTs available to only select customers. 4. NFTs boost brand recognition and consumer loyalty. How to Start Using NFTs for Your Business From luxury clothiers (Gucci) and sportswear makers (Nike), there's no shortage of brands using NFTs for different things. While the valuation of these companies allows them to experiment with different things, smaller businesses may be cautious. Are you confused on how to use NFTs in business? Here's a quick crash course on using NFTs for your small business: 1. Create NFTs tied to Physical Products With virtual products getting the hype, it's a good idea to create one for customers, and even better, to tie it to a physical product. For example, a furniture business can ask buyers to purchase a couch and an NFT version. Nike is doing something similar with , where customers receive a digital pair of kicks after buying the real thing. CryptoKicks For eCommerce businesses, this represents an opportunity to drive profits. Since NFTs cost little to make, the returns can be mind-blowing. Plus, the smart-contract mechanism can allow NFT creators to benefit from future item sales. If it wishes, a company can stake a claim on a percentage of future profits and program the functionality into the NFT. 2. Sell NFTs to Virtual Audiences In the Metaverse, people can buy virtual real estate and clothe their avatars in fancy clothing. Savvy businesses can take advantage and commission branded NFT items to sell them for use in virtual worlds like . Decentraland Again, Nike is ahead of the curve here, filing patents to for in-game audiences and virtual world residents. Coca-Cola also sold an NFT bubble jacket, which buyers could wear virtually, to celebrate its 200th anniversary; another example of excellent business use cases for NFTs. produce virtual sneakers Branded sneakers, clothing, devices—the possibilities of NFTs for business are endless. A business owner only needs to mint an NFT version of a real-life product and sell it to people through Rarible, OpenSea, or any NFT marketplaces. Indeed tokens-as-virtual-products is among the best business uses for NFTs. 3. Drive Brand Loyalty with Limited-Edition Merchandise Brands have rewarded loyal customers and achieved higher recognition with limited-edition merchandise. Now, small businesses can do the same, but with NFTs. Restaurant chain Taco Bell famously taco-inspired GIFs (dubbed NFTacoBells), which sold out in minutes. Similarly, Coca-Cola a digital “loot box" comprising various NFT products, including a redesigned Coca-Cola logo and a virtual jacket. released sold 4. Reduce Counterfeiting of Products Businesses have unsuccessfully tried to combat sales of counterfeited products for years. However, new research shows NFTs may help turn the tide against counterfeiters. As explained earlier, NFTs live on blockchain's open, immutable, permissionless, and trustless ledger. That's why verifying ownership and validity is easy. Applied to the world of commerce, an NFT tied to a physical product can help limit counterfeiting cases. Customers could scan the NFT barcode on an item to confirm its originality. This is already happening in the luxury goods industry, with Ackerwines, a specialty winemaker, . selling wines with companion NFTs This technology can also protect other items businesses would rather were not counterfeited. That includes event tickets, discount coupons, ownership certificates, licenses, and many more. 5. Raise Funds for Social Causes While people are generous, many would feel better if they got something in return for their charitable donations. And what better way to reward donors than allowing them to own a hyper-rare NFT? Taco Bell and Coca-Cola are some of the brands using NFTs to raise money for social causes. Other businesses can follow this example and sell company memorabilia as NFTs, with proceeds going to charity. Beyond creating buzz for a business, this tactic may help raise its profile and improve public perception. 6. Improve Supply Chain Management One of the best business use cases for NFTs is in supply chain management. Stamping NFT-enabled tags on physical commodities makes it easier for businesses to track items across the supply chain. Each NFT can be updated with relevant information at different points of the production process. For example, product-linked NFTs on the blockchain may contain data about the origin of raw materials and techniques used in production. Companies can quickly detect if a defective product is introduced into the supply chain. Since blockchain information is visible to everyone, customers can confirm a good's manufacturing details. This is an excellent way to assure buyers of the quality and authenticity of products. NFTs for Businesses: Potential Risks to Consider? Although the business potential of NFTs is undeniable, businesses must be careful with investments. Brands using NFTs must conduct extensive research to find and evaluate risks associated with NFTs in business, some of which are explained below: 1. Security Issues NFTs rely on blockchain technology, which has had a fair share of hack attacks. In a , around $2.2 million worth of Bored Ape NFTs were stolen from the OpenSea platform. As a new technology, blockchain has a few kinks to work out. This is normal for every emerging technology, but it's worth considering, nonetheless. recent high-profile case 2. Declining Economic Value Many believe NFTs are going through a hype phase, evidenced by their high prices. Will their prices crash when the bubble bursts? Depends on who you ask. However, you want to remember that NFTs may well become commonplace with time, such that they won't command extreme value anymore. 3. Unpredictable Demand The best NFTs have some social value attached. Remember: you're selling a product people can't touch, so what matters is how people perceive it. If customers think owning an NFT from your brand is cool, nothing can stop them from paying good money for one. But if your brand has little social value, your NFTs may find no buyers. It helps to measure demand for branded NFTs among your customers. Once you've established that there's a market for NFTs, the rest is easy. 4. Environmental Impact A major stumbling block to adopting blockchain technologies is their high electricity consumption. This has led many, including prominent climate change activists, to against their usage. protest Businesses may be wary of associating with a controversial technology for fear of public backlash. This is even more important as consumers pressure corporations to promote eco-friendly practices. Wrapping Up Learning how to use NFTs for your business can help improve brand recognition and loyalty, create unique experiences for customers, prevent piracy, and improve supply chain tracking. With the enormous commercial involved, every smart company would do well to incorporate NFTs in their business model. Also published on: https://eawosika.hashnode.dev/how-can-businesses-use-nfts

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Kitemaker Inc

kitemaker.co

1-10 employees

Since 2019

COMPANY RANKING

KITEMAKER INC

EVERGREEN INDEX #6225

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