This Month in Conceal (July 2020)
Welcome to the Conceal Developer updates for July 2020. It’s been a quiet, but a very busy month for us! Before we detail the work the team has been focused on over the last month, we wanted to share a few major announcements that have taken place. Onward!
$wCCX stands for Wrapped Conceal and is simply an ERC20 token that represents the real Conceal $CCX on the Ethereum ecosystem. Yes! The Ethereum ecosystem. Fantastic! One wCCX equals one $CCX (1 $wCCX = 1 $CCX). Having an ERC20 token representation has the distinct advantage of integration into the Ethereum ecosystem, which includes wallets, dapps, and smart contracts. Imagine a decentralized and private “gateway” from $ETH. Once you convert $wCCX to $CCX, pure anonymity. $CCX was designed to be a store of value, this evolution only makes it better.
The purpose of $wCCX is simple, to create leveraged stable coin trades as a yield aggregator for lending platforms that rebalances for the highest yield during contract interaction. Liquidity Pools (know as LPs) earn additional interest on their yield-bearing tokens, where traders can even create leveraged positions. Stable coins supported include: $DAI $USDC $USDT $TUSD
Development is ongoing to provide a swapping method. We have something ready, but the public version candidate will take a bit longer for release. The reason is because of the current high fees charged by $ETH (Gas). Whoever sends a transaction will need to pay the fees. So, imagine (our smart contract) paying and charging out to users a $3-$6 USD fee every time someone does a swap. No matter the amount or the way you do it ($CCX to $wCCX or $wCCX to $CCX), this fee must be paid. Implementing a fair solution to the owners of those tokens is harder than it seems. We want the best for our users. So, we are exploring what would be the best approach to deal with the high fees charged by Ethereum.
Initially, the starting supply of $wCCX is 8,240,389 (which is equal to our existing circulating supply of $CCX). However, we issued another smart contract to manage the elastic supply of wCCX, which will match the supply of $CCX available in the swapping wallet. Currently, the swapping wallet has 100k $CCX deposited. If you are interested in reviewing wCCX click here. Further details will follow soon.
Uniswap Listing — wCCX!
wCCX is now available to trade on Uniswap! Just add the following contract:https://etherscan.io/token/0x21686F8ce003a95c99aCd297E302FAACf742F7d4 or click wCCX to get started! Don’t wait!
“Uniswap is an automated liquidity protocol powered by a constant product formula and implemented in a system of non-upgradeable smart contracts on the Ethereum blockchain. It obviates the need for trusted intermediaries, prioritizing decentralization, censorship resistance, and security. Uniswap is open-source software licensed under the GPL.
Each Uniswap smart contract, or pair, manages a liquidity pool made up of reserves of two ERC-20 tokens. Anyone can become a liquidity provider for a pool by depositing an equivalent value of each underlying token in return for pool tokens. These tokens track pro-rata LP shares of the total reserves, and can be redeemed for the underlying assets at any time.”
We continue redefining the DeFi boundaries for Conceal.Network.
The Conceal Team
The Conceal Team is growing! We formally welcome two new team members as Developers. ThrownLemon and AxVultis are now part of the growing Conceal Team and we invite our Community to reach out and congratulate them both on the work they have contributed over the last few months.
It’s important to note that each Community member has an opportunity to join the Conceal Team and we invite you to find your niche and join the team and help us grow. Congratulations to ThrownLemon and AxVultis and once again, welcome to the Conceal Team!
Over the last month, we identified an issue with certain smart nodes as the Guardian failed to detect when the daemon was fully initialized. The detection was improved on all smart nodes and we included better optimizations for several repetitive tasks the Guardian periodically executes. The following four updates were released that addressed these issues and add better stability and reliability to the Guardian:
- Conceal-Guardian 0.5.7 — Addressed a problem with setting the start time of the daemon.
- Conceal-Guardian 0.5.6 — Set fixes related to height checking.
- Conceal-Guardian 0.5.5 — Optimized repetitive tasks.
- Conceal-Guardian 0.5.4 — Rewrote the method for the wait time to allow core to initialize.
For more information about Conceal Guardian, please click here.
Conceal-Core & Desktop Release
Conceal Core and Desktop is in the middle of another major overhaul. Several new features will be implemented in the next release (v6.3.0) including UI modifications to the splash screen, resizing the launch window option, styling changes to the fonts, TTL menu, and welcome frame. Additional customizations include adding 37 fiat currencies by reworking the price check to use Conceal Services. A difficulty algo switch is being planned that will include a hard fork effectively changing the difficulty method for a smoother hashrate curve. Changes are being tested now and we expect the release of Conceal Desktop v6.3.0 sometime late in August 2020.
Conceal-Mobile & Cloud
The next Conceal Mobile release will be a really big one (v2.0)! Work on the mobile wallet restyling is focused on adding fingerprint and pin login options, new in-app guides, deposits, and probably some other secret features. As usual, this update includes behind-the-scenes changes, bug-fixes, and stability improvements. Also, we plan to release a guidance video of all the new Conceal Mobile features. Below is a sneak peek of the new Conceal Mobile interface for Deposits. Looks AMAZING! Additionally, work and testing continues to extend the deposit system to the service wallet (walletd) and is on schedule for release in September 2020.
Conceal Lite Wallet
Work is progressing well on the Conceal Lite Wallet with one of the more complicated sections now being completed, Payments and Transfers. A lot of effort has been put into making payments as user friendly as possible with clear labels, validations, confirmations, and helpful feedback to guide you through the process of making a successful payment.
The “transfer” option is another feature that was added. This dedicated section in the application allows you to easily transfer funds between wallets and really enables you to make better use of your wallets to create “sub-accounts” for dedicated purposes. For example, you can now have one wallet for spending, one for savings and one for incoming payments, just like how your real bank account works, only better.
The remaining sections of the application are expected to be completed quickly now with the bulk of the work being completed. We expect a beta version ready for testing within the next few weeks to iron out any bugs before a general release is announced.
Conceal.Network Community Consensus 2020 is scheduled for Sunday, September 13th until Sunday, September 27th.
What is Consensus? Each year, the Conceal Team and our Community discuss the future of Conceal.Network in the #Consensus section of our Discord. Different topics are discussed to help focus our aims, goals, and development over the next year. Everyone willing to contribute positively is welcome.
The best ideas proposed during Consensus are then voted on by the Community, after being carefully evaluated by the Conceal Team, then added to the Roadmap. Consensus determines the next steps in terms of Conceal.Network development and the overall direction of the project for the next year.
Those who want to participate can do so by posting their ideas or suggestions in the #Consensus section of our Discord. If you haven’t already done so, please visit our Discord server and feel free to contribute to the process.
In The Media
The team completed work on a new webpage In The Media that includes a redesign and brand new look, including the overall rebranding of Conceal.Network. If you have any suggestions on any other content you would like available, please reach out to any of the team members and let us know.
The new In The Media page was added where you can easily see any AMA’s, articles, videos, mining video guides, and monthly Dev updates in one place. Go check it out!
Conceal.Network offers you a simple solution to have an alternative. A new technology that favors you and not the banks, the government, or the developers and vendors. To help you keep the value of the cash you earn and the value of your personal data with you.
An anonymous and decentralized bank account that pays you interest, keeps your earned cash value, keeps your communication private, and helps privatize your personal information to ultimately keep you safer.
We welcome everyone. So tell all your friends, Conceal.Network sets the gold standard for a legitimate and honest DeFi project.
Discover the evolution of personal private banking and take back the value that’s been taken from you.
Until next time.