This initiative is underway and the first payout was performed yesterday. Here are the addresses for tracking:
Masternode address: (can be used for monitoring masternode status)
Donation address: (all rewards should now appear here)
The donation address is a feature that we are experimenting with. The goal is to have the 25% maintenance deducted automatically and the other 75% routed to a payout address so we don't have to scrape from the wallet holding the 1k.
edit 4/27/15: All rewards are now forwarded to the donation address because trying to set the donation to 75% merely forwarded 3 out of 4 of reward txns rather than forwarding 75% of the reward amounts.
edit 1/1/2016: I forgot to update this a few months ago, but the donation feature appears to not be supported currently (it's probably being used as the underpinnings for the budget system). All rewards are now being scraped directly from the masternode address.
We are proud to announce a new group investment opportunity for GetHashing members - a Dash (formerly Darkcoin; hereafter referred to as DASH) staking pool - in the form of a smart asset called MNX, represented by colored coins on the Bitcoin blockchain. This new endeavor revolves around the creation, loading, and management of a Dash Masternode (DASH MN). Since this project will not entail mining, but rather staking, the MNX colored coin acts primarily as a digital receipt of each user's investment in the staking pool, which may be traded or otherwise transferred to other users.
These digital receipts represent an amount of DASH entered into the DASH MN. MNX may be traded or otherwise transferred; the DASH and the revenue they represent will belong to whoever holds the receipt. In this case, as was the case with GHcoin, we are creating 1,000 MNX coins via Coinprism. These MNX may be purchased at a 1:1 ratio with DASH.
MNX will always be backed by a DASH MN at a fixed ratio of 1:1. As with GHcoin, MNX can be freely traded with anyone who possesses a Coinprism account or any Bitcoin wallet which supports the smart asset protocol, a.k.a. colored coins. It is imperative that a receiving wallet support colored coins. Once transferred, should the receiving wallet not support the smart asset tag, the receipt will become void and nonrecoverable.
If you have no experience with smart assets and colored coins, you may wish to familiarize yourself with this fascinating technology before considering this investment. Further information on smart assets and colored coins may also be found at Coinprism's website.
MNX Specification Overview:
Total coins issued: 1,000 coins, representing 1,000 DASH.
Price per MNX: 1 DASH
Maintenance fee: 25% (twenty-five percent) of any rewards received by the DASH MN, calculated weekly.
Maintenance and Profitability Condition:
Ongoing, weekly maintenance costs are subtracted from proceeds prior to distributions made to MNX holders. Presently, maintenance fees reduce disbursements by 25% to cover server, maintenance, and management costs.
If in the future the operating costs of the DASH MN exceed the weekly maintenance fees, the node may be sold at the DASH MN managers' discretion, and the proceeds issued proportionally to all current MNX holders as a final disbursement. As a result, the market value, (in terms of Bitcoin at the time of discontinuation of the DASH MN), of all DASH contributions will be returned.
Weekly Payout Distribution:
Rewards received by the DASH MN will be converted to Bitcoin once a week and deposited into the MNX holders’ registered Bitcoin addresses. The DASH MN managers will make a best effort to sell the DASH proceeds at the most advantageous exchange rate available at that time.
Preliminary, Estimated DASH MN Proceeds:
At present, rewards are 4 (four) DASH per block. Based on present difficulty levels, all combined Masternodes earn approximately 40% of 2,304 DASH, or 921.6 DASH per day, total. This yield is distributed approximately equally among all Masternodes. There are currently 2,467 active Masternodes operating on the DASH network. The daily yield per Masternode is approximately 0.3735 DASH.
Current Approximate Daily Investor Yield:
With each current DASH MN yielding 0.3735 DASH (as of the time of writing), the daily per-share yield is estimated as follows:
0.3735 DASH x 75% ÷ 1,000 Shares = 0.00028 DASH per share, per day.
Annual per share rewards:
0.00028 DASH x 365 = 0.10225 DASH
Annual percentage return:
0.10225 ÷ 1 DASH = 10.225%
DASH Value Trends:
DASH has recently enjoyed a consistent appreciation in value. Much of this appreciation is associated with the highly secure and anonymous nature of transactions. These attributes are highly advantageous for commerce in the so-called "dark web," where anonymity is highly prized.
DASH recently has undergone a branding change by its developers, having previously been known as Darkcoin. In an effort to cure the coin of the stigma of being associated with dark web commerce and all that it implies, the currency has been renamed “DASH." This rebranding effort has taken a very minor toll on the coin's value in recent days, but the features and attributes of the coin remain unchanged and untarnished. Price recovery and appreciation are expected to continue well into the future.
Thanks to @Allen1980s for the research and write-up above, now let me make a few comments.
I think there's a big opportunity here. Usually you have to hold 1,000 DASH to run a Masternode, which is something that has become even more cost-prohibitive in recent weeks. The beauty of this offering is that it allows people to not only hold smaller amounts while still receiving block rewards, but also come and go as they please without disrupting the DASH MN.
Normally, not a single coin can be removed from a Masternode, (or one added to it), but because of the colored coin proof of ownership and dividend issuance, the DASH MN will not be disturbed by people selling or transferring their MNX.
Every Masternode that gets created also takes 1,000 DASH off the markets for the duration of its life, encouraging price growth. This is a coin with a lot of potential, and we think this asset opens that potential up to a wider group than before.
Shut up and take my DASH!
As much as I'd love to do a crowd-sale through Coinprism for simplicity, the volatility of the Bitcoin price has made it necessary to do this round directly in DASH. So here's the deal, we have 1,000 MNX to issue for batch one.
How to Buy:
Contact @astro (me) either here or on the GetHashing Slack to reserve however many MNX you want. Please note, these are not "reservations" in terms of future purchases, I just don't want people sending us DASH if there aren't enough MNX coins left.
Once you have received the go-ahead, send your DASH to the address @astro provides you. Please make sure you include enough for any txn fees, partial DASH will be accepted as donations
Send your txn id and colored coin asset address to @astro. He will verify your reservation, txn, and issue you the colored coins.
Once 1,000 DASH have been received, the node will be launched within 24 hours, and the node information will be published so that everyone can watch it work.
(Click Me Below !)
This document is a solicitation for a service provided by the aforementioned managers of the DASH MN. It is for informational purposes only and is not to be interpreted as investment advice or as a recommendation regarding any particular course of action. The figures presented in this document are purely illustrative and do not constitute any sort of guarantee of profit or indication of future performance of any investments. The opinions expressed in this document are solely those of the DASH MN managers, and do not represent the opinions of GetHashing or any of its affiliates. This document and all figures and calculations contained within are current as of the original date of posting.