In this article I will cover the major updates and progress of win.win project in the last week. This is in continuation to my earlier weekly TWINS report.
win.win project
Aim of the win.win project is to create a truly decentralized exchange platform with cross-chain atomic-swaps capabilities to facilitate the direct transacting of value between network users. There will be no fees for the direct peer-to-peer exchanges, as these transactions are performed directly between user wallets. Since transactions will take place directly between user wallets without the involvement of any third party, there will be no fee for these exchanges.
The TWINS cryptocurrency will be used to power the exchange platform for buy and sell order listings and to reward the community-supported and decentralized hosting of network nodes.
Weekly progress
New Bounty Rules
win.win project is a community driven project and it has been making great strides so far. One of the major attraction of TWINS was the handsome rewards being paid to the community members for their contributions towards the project. This obviously attracted some users to make a quick buck while doing some mechanical and work which result into less output.
This was quickly realized by the TWINS community and the team and they have placed a temporary guidelines so that the bounty system is not abused by any one. As per the latest guidelines if one is to take part in to the bounty program he/she has to follow the below procedure:
Apply to become a bounty contributor by submitting your details here:
https://docs.google.com/forms/d/e/1FAIpQLScUaFI6mFW85WEMTnwZEtFs7RF_PzFM0EryD_IPTtwfo1n59A/viewformWe will review the application and will contact you in Direct Message here on Discord, to update you with our decision. Please note, we may require additional information to verify your identity.
Once approved, you are welcome to contribute and submit your work for review here:
https://docs.google.com/forms/d/e/1FAIpQLScR60M1x0LMqqlZ-Q4tnDd8gx0yog-TncUuid7rC1JxctFsBQ/viewform
Also , now the work done by users will be checked for ingenuity and the quality.
Note: These bounty rules are only temporary and a more robust structure is coming where most of the process will be automated. A separate platform for this purpose is in pipeline. This is great that how quickly team has been able to address a issue which although were minor but could have a larger impact on current TWINS price.
New wallet release
Just a few days after the TWINS wallet was updated to 3.2.0.6 version a new update has come out which updates the wallet to 3.2.0.7. This is not a mandatory update and it largely addresses and improves GUI of the previous wallet.
New wallets can be downloaded from the official website - https://win.win/
TWINS Price
Twins coin price saw a sharp decline of approx 40% in the preceding week, when it fell down from 150 sat price to 55 sats and later recovering and hovering around 90 sats.
There can be multitude of factors for the price declines, some of which are-
TWINS price shot up from 50 sats to upto 160 sats within a very short period of time earlier, so it was due for a correction where people sell a portion of their holdings and take out profits.
Some users abused the bounty system and when new rules were put in place, they thought of it as better to sold their holdings.
Just a small sell out and it crated a panic among the community and resulted into more selling.
Order book on exchanges is so thin that a large player can move the prices to a larger extent.
At the time of writing, TWINS price has recovered a bit and now hovering around 90-100 sats. Since, we are very early into the project, this is not a topic of concern.
MWC visit by Fix.team
Although Fix.network will be a separate project but since the team members are same for both the project I found it worth while to mention their visit to MWC 2019 here. Ultimately, these projects linked are gonna be with each other in longer term under umbrella of "New Capital".
FIX Network was presented to several mobile operators and few governmental institutions at MWC, as a solution to securing our digital identities. Fix team had an amazing response from their audience.
Also,they had a productive workshop with the top management team from WiFi Map, the company with more than 100 Million app downloads worldwide. Wifi Map is touted as the first mass-market early adopter of the FIX Network technology. Their app offers free and shared economy Wi-Fi hotspots, available in more than 200 countries.
That's it, another impressive week for TWINS. Thank you.
Official project links:
Website: https://win.win/
Github: https://github.com/NewCapital
Discord: https://discord.gg/SAMDbxV
Bitsane Exchange link — https://bit.ly/2UeDKDd
p2pb2b Exchange link- https://bit.ly/2SxYPqR