As we continue to work around the clock on new features on the testnet, (and as we're getting closer to the mainnet release) we wanted to take a moment and provide you with a few updates. Keep in mind that this is just a very small update since the majority of the changes haven't yet been deployed to the testnet; once that happens, we will release a full changelog.

Validators

Since the release of the XFI token on the Ethereum mainnet, we watched the Dfinance network grow. As of today, there are 31 active validators on the testnet and more are expected to join in the coming weeks. (Please note that the final number of validators for the mainnet has not yet been set)

We were also blessed with significant community feedback, and following this feedback we are working on making the validator setup procedure as easy as possible for everyone and also improve our wallet UI/UX experience.

A number of caring community members put some effort of their own and create two great tutorials, one in English and the other one in Russian. We found the tutorials to be very helpful, informative, and thorough and should help you get your Dfinance validator node up and running in no time:

• How to set up a Dfinance validator node - (EN) tutorial by Endijs Lisovskis.
• Запуск Ноды Dfinance - (RU) tutorial by @ilyagp.

Dfinance wallet:

We also deployed several improvements to the wallet:

• Fixed bugs related to the display of inactive validators.
• Fixed a bug in the sorting tabs.
• The wallet now uses the Dfinance Javascript SDK (will be released to the public at a later stage).

With incentivised staking to be released in the coming weeks, we invite everyone who wants to up a validator to submit a validator request using our validator registration form.

Selected validators will be invited to our validator's private chat group and the community portal (with personal threads).

In our search for high-quality community members and careful selection of candidates for our reward program, we would like to remind our community that the main principles of our project are honesty, openness, and transparency. We strive to create a healthy community and our goal is to bring people who are genuinely interested in the project on board.

We do not support fraud, hacking, or cheating, and our volunteers found several accounts on bitcointalk that violated these terms. All of these accounts will be blocked within a week and will not receive any rewards.

We appreciate those who honestly take the time and effort to support our project, and want the rewards to be distributed amongst these loyal, honest, hardworking community members. We will also recalculate amounts closer to the end of the program to ensure signature participants' efforts and limitations will be taken into account, as they cannot participate in multiple projects at the same time.

We give everyone a fair chance to join the rewards program and become a part of Dfinance and we appreciate those who participate in a sincere way, according to the rules. As always, our goal is to make it as fair as possible for all those participants.

Important: US persons/citizens are not allowed to participate in the swap.

Relevant Contracts:

• XFI - 0xE4E822C0d5b329E8BB637972467d2E313824eFA0 (etherscan)
• SWAP - 0xd8339fc272B9956f48bD0465856481B128Dbf171 (etherscan)
• WINGS - 0x667088b212ce3d06a1b553a7221E1fD19000d9aF (etherscan)

Please note that all transactions before 07/Sept/2020, 14:00 UTC will be rejected.

Using the access-portal

To swap WINGS to XFI using the access-portal, you will need to use Metamask. Make sure you also have sufficient ETH in the wallet for gas costs.

If your WINGS are on a wings.ai wallet, you need to first import that wallet into Metamask using your private key. If needed, you can find instructions on how to extract the private key here. NEVER share your private keys with anyone!

By swapping your WINGS to XFI you will lose access to your WINGS forever.

1. The access-portal is available at swap.dfinance.co. Please make sure you verify that you are using the correct web address! Never use unofficial links!

2. Fully read and understand the swap terms. If you agree to the terms and if you are not a US person, tick the checkboxes and click continue.

3. Connect Metamask by clicking the "Metamask" button. (You may need to enter your Metamask password [in Metamask!] to unlock your wallet).

4. Select the address you have your WINGS tokens on and click "Next"

5. Allow swap.dfinance.co to VIEW the addresses and click "Connect"

6. Approve "WINGS" - In the "Swap" tab, click "MAX" on the right side and make sure the "From" input field has the total number of WINGS you wish to swap - then click "Approve WINGS" - this will initiate a PERMISSION transaction (no swap yet)

Note: If you have your WINGS spread over a number of addresses, you will need to "Approve WINGS" for every address.

7. Submit the permission transaction - Metamask will now popup and ask you to confirm the transaction. By default, the permission is set to "Unlimited". If you wish to limit how much to swap, you can do so under "Edit Permission" > "Custom Spend Limit".

You can set the gas price based on Metamask recommendation or use ethgasstation.info or etherscan.io/gastracker for gas price recommendation. For faster processing, in the Metamask popup, to the right of "Transaction Fee" you can select "Edit" then select the "Fast" option. Note, however, that this will increase the gas price and thus make the transaction a bit more expensive. Once done with the gas, click "Confirm".

If you use a hardware wallet, make sure it is connected and unlocked so you may sign the transaction (with the hardware wallet) so Metamask can submit the transaction to the network.

8. Wait for the permission transaction to be confirmed by the network.

9. Once the permission transaction has been confirmed, under the "Swap" tab, enter the amount of WINGS you wish to swap. If you wish to swap all, you can use the "MAX" button on the right. Now click the "Swap Tokens" button and approve the Metamask transaction (remember to set gas price preferences).

10. Once the swap transaction has been approved, you are done. The swap has been initiated. Welcome to Dfinance

Interacting with the swap contract directly

By using the swap smart contract you agree to the swap terms.

Below you will find the WINGS and SWAP contracts ABIs, which will be needed for interacting with the smart contracts directly. Note that both XFI and WINGS contracts support the standard ERC20 ABI interface.

WINGS ERC20 ABI:

[{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"}],"name":"balanceOf","outputs":[{"name":"balance","type":"uint256"}],"payable":false,"type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[{"name":"success","type":"bool"}],"payable":false,"type":"function"},{"constant":true,"inputs":[{"name":"_owner","type":"address"},{"name":"_spender","type":"address"}],"name":"allowance","outputs":[{"name":"remaining","type":"uint256"}],"payable":false,"type":"function"},{"inputs":[],"payable":false,"type":"constructor"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"owner","type":"address"},{"indexed":true,"name":"spender","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Approval","type":"event"}]

SWAP CONTRACT ABI:

[{"inputs":[],"name":"wingsToken","outputs":[{"internalType":"address","name":"","type":"address"}],"stateMutability":"view","type":"function","constant":"true"},{"inputs":[],"name":"xfiToken","outputs":[{"internalType":"address","name":"","type":"address"}],"stateMutability":"view","type":"function","constant":"true"},{"inputs":[{"internalType":"uint256","name":"amountIn","type":"uint256"}],"name":"estimateSwapWINGSForXFI","outputs":[{"internalType":"uint256[]","name":"amounts","type":"uint256[]"}],"stateMutability":"view","type":"function","constant":"true"},{"inputs":[{"internalType":"uint256","name":"amountIn","type":"uint256"}],"name":"swapWINGSForXFI","outputs":[{"internalType":"uint256[]","name":"amounts","type":"uint256[]"}],"stateMutability":"nonpayable","type":"function","constant":false}]

Using MyCrypto

1. Approve WINGS tokens

First, you will need to approve the swap contract to spend your WINGS tokens. This is required because the swap contract will need to transfer WINGS.

Go MyCrypto. Double-check that you are using the correct web address or use the local version. Then go to Tools → Interact With Contracts (link).

Enter the following data into their respective fields:

• From the Select Existing Contract dropdown, select CUSTOM
• In the Contract Address field, use the WINGS contract address: 0x667088b212ce3d06a1b553a7221E1fD19000d9aF
• In the ABI / JSON Interface, copy & paste the WINGS ERC20 ABI (above). It is important to make sure you don't have any unwanted space (usually at the end)

Click the "Access" button. From the "Read / Write Contract" dropdown list, choose the "approve" function.

Enter the following data into their respective fields:

• _spender address = 0xd8339fc272B9956f48bD0465856481B128Dbf171
• _value uint256 = the amount of WINGS you want to swap, in WEI. For example, if you want to swap 1000 WINGS, you will need to enter 1000000000000000000000 (1 WINGS is 1000000000000000000 wei). You can also use this converter.

At the bottom, access your wallet.

Keep the "Value" input empty or zero.  Disable "Automatically Calculate Gas Limit" and configure the gas settings:

• Gas price (gwei) - use the optimal gas settings for you or use Gas tracker for a recommendation.
• Gas limit - 60000 gas units should be sufficient.

Send the transaction and wait for confirmation before continuing.

2. SWAP

Go MyCrypto. Double-check that you are using the correct web address or use the local version. Then go to Tools → Interact With Contracts (link).

Enter the following data into their respective fields:

From the Select Existing Contract dropdown, select CUSTOM

• In the Contract Address field, enter the swap contract address: 0xd8339fc272B9956f48bD0465856481B128Dbf171
• ABI / JSON Interface =  In the ABI / JSON Interface, copy & paste the SWAP ERC20 ABI (above). It is important to make sure you don't have any unwanted space (usually at the end).

Click on "Access" button and choose the "swapWingsForXFI" function in from "Read / Write Contract" dropdown list.

In the amountIn uint256 field, enter the amount WINGS you want to swap (IN WEI). This is the same amount as approved in the previous transaction (e.g 1000000000000000000000  for 1000 WINGS).

At the bottom, access your wallet.

Keep the "Value" input empty or zero.  Disable "Automatically Calculate Gas Limit" and configure the gas settings:

• Gas price (gwei) - use the optimal gas for you or use Gas tracker for a recommendation.
• Gas limit - 120000 gas units should be sufficient.

Send the transaction and wait for confirmation. Once the transaction is approved the smart contract will start allocating XFI to your address. You have now completed the swap, welcome to Dfinance.

Using MyEtherWallet

1. Approve WINGS tokens

First, you will need to approve the swap contract to spend your WINGS tokens. This is required because the swap contract will need to transfer WINGS.

Go MyEtherWallet. Make sure you double-check you are using the correct web address. Unlock your wallet, then on the left side, select Contract → Interact with Contract (link).

Enter the following data into their respective fields:

• In the Contract Address field, use the WINGS contract address: 0x667088b212ce3d06a1b553a7221E1fD19000d9aF
• In the ABI/JSON Interface, copy & paste the WINGS ERC20 ABI (above).

It is important to make sure you don't have any unwanted spaces (usually at the end of the ABI or the contract address)

Click "Continue". From the "Select an item" dropdown list, choose the "approve" function.

Enter the following data into their respective fields:

• _spender address = 0xd8339fc272B9956f48bD0465856481B128Dbf171
• _value (uint256) = the amount of WINGS you want to swap, in WEI. For example, if you want to swap 1000 WINGS, you will need to enter 1000000000000000000000 (1 WINGS is 1000000000000000000 wei). You can also use this converter.

"Value in ETH" - keep "0" or empty.

Click the "Write" button. If needed, configure your gas price preference. You can use Gas tracker for a recommendation. The gas limit required is 60000 units.

Send the transaction and wait for it to be confirmed.

2. Swap

Go MyEtherWallet. Make sure you double-check you are using the correct web address. Unlock your wallet, then on the left side, select Contract → Interact with Contract (link).

Enter the following data into their respective fields:

• In the Contract Address field, use the SWAP contract address: 0xd8339fc272B9956f48bD0465856481B128Dbf171
• In the ABI/JSON Interface, copy & paste the SWAP ERC20 ABI (above).

It is important to make sure you don't have any unwanted spaces (usually at the end of the ABI or the contract address)

Click "Continue". From the "Select an item" dropdown list, choose the "swapWingsForXFI" function.

Enter the following data into their respective fields:

• AmountIn (uint256) - enter the amount WINGS you want to swap (IN WEI). This is the same amount as approved in the previous transaction (e.g 1000000000000000000000  for 1000 WINGS).

"Value in ETH" - keep "0" or empty.

Click the "Write" button. If needed, configure your gas price preference. You can use Gas tracker for a recommendation. The gas limit required is 120000 units.

Send the transaction and wait for confirmation. Once the transaction is approved the smart contract will start allocating XFI to your address. You have now completed the swap, welcome to Dfinance.

Calling all dedicated Dfinance community members! We have an exciting mutual opportunity for all who feel passionately about our project and want to share the interesting details of it with others. We are starting a community ambassador program and are looking to attract loyal users from across the world who:

• Are truly interested in and intellectually invested in the project
• Have knowledge of the project, its goals and vision and what goes on around it
• Believe in the project, its potential and what it is trying to achieve
• Want to share this project with their audience
  

Does that sound like you? If yes, submit your ambassador application today!

In the blockchain industry, a project is only as strong as it’s community. The Dfinance team understands this and are looking to establish a strong, motivated, constantly expanding community led by our ambassadors. As an ambassador, your role would be one of education, where you function as a distributor (and collector) of information surrounding the project, its team, how it works, and its potential. You would be working closely with the team, and you would be able to share thoughts and ideas, provide constructive feedback and help shape the Dfinance of tomorrow.

Because of the nature of the role, we are looking for dedicated fans of the platform, who have already been using it for a while and are familiar with the team and concept behind the platform, as well as how to use the platform itself. We are looking for knowledgable community members who are interested in spreading the word about Dfinance, with the possibility of remuneration for their quality contributions.

So if you fit the description and are interested in filling this role, fill out the form provided through this link and we will contact the applicants who stand out and best fit what we’re looking for.

We’d like to thank those of you who took part in the Dfinance Reward program! So far, we have more than 900 registered users! You helped us spread the word about Dfinance.

The program is finishing soon, and on 7 Sep 2020, we’re going to close registration as well as some of the activities*

We will no longer accept general program registration, and participation in the following activities will be halted:

• Interview
• Article
• Meme
• Meme repost
• Announcement
• Reddit
• Announcement on twitter
  

Some of the memes, interviews, articles have not been checked yet, but we’ll finish the work on our side and allocate credits to all contributors according to the rules.

People who have already registered in the below-mentioned activities can continue to participate:

• Bitcointalk

The new registrations for these activities will also close on Sep 7, 2020. The program will run till 27.09.2020

Registration for new participants is open for

• Technical activities
• Financial instrument activities
• Twitter**  
  

Participants can keep on completing the tasks.

Note: In order to keep a clean and constructive public telegram chat, discussions of the Reward Program will be prohibited. If you have any questions, please check out our blog first; if you do not find answers or are unpleased with them, please PM one of the following team members directly: @luna2, @imnlns, or @amanai

Initially, we thought about allocating 50% out of the total pool to Technical activities, and 50% to Promotional activities (meme, reddit, twitter, announcement, article, interview).

During the program, we heard several community concerns, and we understand that some activities require much more time and effort than others. We took note of that and we will take that into account when calculating the allocation of the pools and credits. More details later.

Reminder: The total pool is 125,000 Dfinance coins (XFI). There’s never been a fiat equivalent for 125,000 XFI. The value will be defined by market conditions. Please make sure you understand and agree with all the details of the program before continuing your participation.

* We’d like to remind you that the program will run until one month after the launch of the mainnet, and the program rewards will be distributed to everyone approximately one month after the program completion. The mainnet is currently planned for Q4. We will keep everyone updated with the exact date as soon as we have one.

** We will check all Twitter accounts at the end of the program in search of bots and fake followers. The final number of participants and their credits may be changed based on the Twitter audit results.

It’s finally here! After months of work, planning, and simulations, we now have the swap details for the WINGS to XFI (the Dfinance coin ticker) swap.

Treat with care: Please make sure you only use the official swap portal or, if you decide to swap directly, the correct smart-contract address - both of which will be made public using our official channels. Always check more than one official channel to verify information authenticity (for example website and Twitter). Also please be careful and do not use any unofficial Uniswap or other liquidity pools. Be vigilant and be wary of imposters.

Please note that due to regulation uncertainty the swap portal hosted by the Wings Foundation will be closed for US persons - we apologize for the inconvenience.

Important: By swapping WINGS to XFI you are exchanging your WINGS tokens for XFI. Once sent to the swap contract, your WINGS tokens will no longer be accessible by you forever. The swap is not reversible. Before swapping, please make sure you understand what XFI is, what role it has in the Dfinance network, and how the Dfinance network operates.

Find the swap instruction here: https://dfinance.co/blog/swap-instruction/

How will it work?

On 07 September 2020 ( 14:00 UTC) , we will open the swap option to the public. The swap will occur over a period of 182 days as follows:

1. A maximum amount of 100,000,000 WINGS can be swapped (100% of the total supply)
2. A total of 100,000,000 XFI will be created as a result of the WINGS swap. At the launch of the mainnet, an additional 45,000,000 XFI will be created and allocated to the Wings Foundation, team, partners, and early Dfinance supporters as well as a public treasury (with different lockups and vestings which will be made public later).
3. The swap rate of WINGS:XFI will start at 1:1 and will decrease by 1/182 each day until it will reach 0. The smart contract will calculate the swap rate as:
   TOTAL XFI TO RECEIVE = INDIVIDUAL DEPOSIT [WINGS] / 182 [SWAP PERIOD] * [SWAP DAYS REMAINING]. A few examples are provided further in this blog post.
4. Every day, up to (100,000,000 / 182) XFI will become unlocked, allocated and withdraw-able between all the addresses that deposited WINGS - according to the number of WINGS tokens and when on the swap timeline did they initiate the swap (see examples below).
5. Unallocated XFI will be locked by the smart contract for 24 months and re-allocated to the Wings Foundation, to be used for the development of the network.
6. Your XFI balance is automatically updated by the smart contract every 24 hours. No manual withdrawal is required.
   

Find the swap instruction here: https://dfinance.co/blog/swap-instruction/

Examples:

1. Mary deposits 100,000 WINGS on day 1 of the swap. She will receive a total of 100K XFI calculated as: TOTAL XFI = 100,000 WINGS [DEPOSIT] / 182 [SWAP PERIOD] * 182 [SWAP DAYS REMAINING].
Mary will receive 100,000/182 XFI every day for 182 days, totaling up to 100,000 XFI (0 XFI re-allocated to the Wings Foundation, and locked for 24 months).

2. Mary deposits 100,000 WINGS on day 31 of the swap. She will receive a total of 82,967 XFI calculated as: TOTAL XFI = 100,000 WINGS [DEPOSIT] / 182 [SWAP PERIOD] * 151 [SWAP DAYS REMAINING].
Mary will receive 14,131 XFI on the day of the swap (calculated as 82,967 [TOTAL XFI] / 182 * 31) and 455.86 XFI every day for 151 days, totaling up to 82,967 XFI (17,032.96 XFI re-allocated to the Wings Foundation, and locked for 24 months)

3. Mary deposits 100,000 WINGS on day 91 of the swap. She will receive a total of 50,000 XFI calculated as: TOTAL XFI = 100,000 WINGS [DEPOSIT] / 182 [SWAP PERIOD] * 91 [SWAP DAYS REMAINING].
Mary will receive 25,000 XFI on the day of the swap (calculated as  50,000 [TOTAL XFI] / 182 * 91), and  274.72 XFI every day for 91 days, totaling up to 50,000 XFI (50,000 XFI re-allocated to the Wings Foundation, and locked for 24 months)

Note: XFI will be usable in the upcoming incentivized testnet which will enable XFI holders to earn staking rewards while testing the network. More details about the staking program will be published soon.

Have any questions? Read the short FAQ below. If you still need clarifications, please reach out to us on our social channels.

What is XFI?

XFI is the ticker we have selected for the Dfinance network coin, which will be used for securing and fueling the network, and settling transactions.

Will the Dfinance network have inflation?

Yes, Dfinance will feature a built-in inflation mechanism in order to incentivize network participants such as validators which secure the network. More details about the inflation model will be released soon.

Is XFI currently trading anywhere?

No, XFI is currently not trading anywhere and cannot be otherwise acquired. A Uniswap pool may be launched at a later date to allow everyone to participate in our upcoming incentivized testnet, however, details about it will be released using official channels at a later stage.

Why are you not allowing a 1:1 conversion during the entire period?

We are trying to bootstrap a new, significantly more advanced network and we want to give everyone the opportunity to join us on this exciting adventure. For this journey to be fruitful, we need to onboard an active and vibrant community. We feel that the swap model will help achieve that.

Won’t this lead to gas wars?

There’s absolutely no reason for anyone to try and rush in. Everyone that deposits during the first day receives the same swap ratio; even if someone doesn’t make the first day for whatever reason, the ratio on the second day only goes down by 1/182.

What will happen to the WINGS tokens sent to the swap contract?

WINGS tokens sent to the swap contract will remain in the contract for the entire swap period.

Is XFI an ERC20 as well?

Since the Dfinance network is still in testnet stages, we decided to use an ERC20 XFI contract which will allow XFI to tap into decentralized platforms such as Uniswap while at the same time allow the Dfinance testnet to operate without balances concerns.

Why are we swapping from WINGS to XFI?

WINGS DAO was envisioned as an agnostic forecasting protocol, with ICOs being the first suitable use case for it. As ICOs disappeared, WINGS product-market fit was lost and thus the protocol became irrelevant. We then started researching and looking for a new direction and thus Dfinance was born. Dfinance is an entirely new ecosystem that uses XFI as its fuel. We wanted to give all WINGS holders a fair opportunity to embark with us on this journey.

Am I obliged to swap? What if I don’t want to swap?

It’s your decision if you want to be a part of Dfinance or not, however, please read how the swap works and make sure you understand that the WINGS:XFI conversion rate decreases over time and will reach 1:0 after 182 days. If you decide not to swap, your WINGS tokens will continue to function and remain transferable on the Ethereum network. Since the WINGS DAO will continue to exist on Ethereum for as long as the network exists, the utility for the WINGS tokens will continue to exist as well.

What will happen to WINGS DAO?

The Ethereum version of the WINGS DAO will continue to exist and function as long as the Ethereum network exists and continues to support the protocol. Unswapped WINGS tokens will continue to maintain their utility within the WINGS DAO.

We see the technology that powers the WINGS DAO as complementary to Dfinance and it is possible that we will launch a modified version of WINGS DAO on the Dfinance network, which will use the XFI coin and integrate with Dfinance instruments and perhaps even other networks.

Will I be able to swap after the swap period?

No, swapping will no longer be possible after the swap period has ended.

Why will the swap portal block US persons?

Without proper regulation guidelines, or in presence of regulation uncertainty, US persons are prohibited from participating. The Wings Foundation does the maximum possible effort to simply comply with regulations, we apologize for any inconvenience this may cause.

Can i just use a VPN to bypass the swap portal limitation?

Absolutely not, that is strictly prohibited. Please respect the rules and limitations.

I hold my WINGS on an exchange. Will they automatically be swapped?

No. Since the swap is optional, you will need to withdraw the WINGS tokens from the exchange and manually initiate the swap either by interacting directly with the smart contract or by using the swap portal hosted by the Wings Foundation.

Can i send WINGS to the swap contract directly from an exchange?

No. Since the swap is optional, you will need to first withdraw the WINGS tokens from the exchange to a personal wallet and only then initiate the swap either by interacting directly with the smart contract or by using the swap portal hosted by the Wings Foundation. Do NOT send WINGS to the swap contract directly from an exchange, you will lose you WINGS and the allocated XFI.

Will I be able to initiate the swap after the swap release date?

You may start the swap any time between the start date and the end date of the swap, however, please note that the amount of XFI received for 1 WINGS token is decreasing by 1/182 per day. In order to receive the 1:1 rate, you will need to start the swap on the first day.

What is Dfinance?

Dfinance is a Cosmos based layer-2, low-code/no-code network that enables creating decentralized financial instruments without technical skills. Learn more at dfinance.co

What is WINGS DAO?

WINGS DAO is a decentralized forecasting platform for conducting due diligence and price discovery. It was launched in 2016 on the Ethereum network and its first use case was ICOs.

We want to thank everyone that supported us on our long journey and continues to support and help. In the meanwhile, please subscribe and follow us on our social media channels. See you all in our upcoming incentivized testnet!

Requirements:

• You must be enrolled in this program. Read how to enroll here

How to participate:

1. Come up with a financial instrument that you can build on Dfinance. There are no limitations set about what type of instrument so that part is entirely up to you. It can be related to derivatives, options, futures, securities, lending and borrowing, synthetics, etc.
   
2. If the idea has already been published anywhere you won’t be allocated credits.
3. Super interesting and well-thought instruments may receive the opportunity to get sponsorship and close technical assistance!
   

How to report:

FINISHED - we do not accept reports

Describe your idea in this form here.

We check the forms every Monday and allocate credits to you in this publicly available doc. Your ideas will be hidden so that other participants can't steal them from you.

Rewards:

You can participate as many times as you like.
You will be rewarded between 2 and 20 credits for each idea. The number of credits depends on how much the board members liked your idea.

Note: In order to keep a clean and constructive public telegram chat, discussions of the Reward Program will be prohibited. If you have any questions, please check out our blog first; if you do not find answers or are unpleased with them, please PM one of the following team members directly: @imnlns, or @amanai


                        See the list of all the participants here

Greetings everyone.

Today we are proud to announce the release of a new exciting tool of the Dfinance network. Please give it up for the Move Unscrambler.

The Move Unscrambler is a tool that conducts statistical analysis of written Move code (the input) and produces an output in form of a readable description of what the code does. The output is so simple that it can be understood by anyone, no technical skills required. The Dfinance team is happy to be the first to launch such a tool for the Move ecosystem, and we believe that this tool is just the first step towards a Business-Driven Development (BDD) approach which will empower business users to verify that the developed code answers their needs and requirements.

The Unscrambler features annotated graphs that display code dependencies and visualizes the entire code structure. The tool also indicates possible problems and risks and provides information for these issues prevention and/or resolution.

Upcoming Features

One of the most exciting features of the Move Unscrambler is the ability to operate as a dependency resolver. The cherry on the top is that it can work both online and offline. This way, a user can inspect the dependencies of either already deployed code (e.g an online instrument or service), or recursively check code residing on the local drive.

Another remarkable feature of the new tool is the integrated binary adapter. It analyses the bytecode resulting from the compilation of a script or module that contains addresses and verifies that the addresses correspond to the Move standard length (20 bytes for DFI and 16 bytes for Libra).
On top of the above, the Unscrambler is also an excellent disassembler that can restore 99% of the original Move code. It can be tested as follows:

1. The source code is compiled

source.move -> compiler => source.mv

2. The bytecode is disassembled

source.mv -> Unscrambler => disassembled-source.move

3. The source code that was restored by the disassembler is compiled

disassembled-source.move -> compiler => new-source.mv

4. The results of step 1 and step 3 compilations are compared

source.mv == new-source.mv

Built-in Static analyzer

Two of the key reasons why we created the Move Unscrambler is to enable a fast iteration cycle, enabling creators to read and understand how the deployed (and even undeployed) instruments work, without the need to know how to code. Below is a brief list of all the types of analysis that the tool supports:

- reversed evaluation

- arithmetic analysis

- control flow analysis

- reachability analysis

- dead code detection

- cross-module cycles detection

- possible values on the min-max basis and arithmetic analysis

The biggest advantage of reversed evaluation and arithmetic analysis is that it allows users to track all the operations performed on each of the values of the examined code. More so, this also helps to define the boundaries of these values on each of the performed operations on the code. This way, users may find potential issues, and, in some cases, calculate invalid, unexpected, or random data - otherwise known as fuzzing tests.

For the developers among you, below is an example of how it works:

This example will be compiled, but an overflow error may occur during the runtime.

Another example:

This example can be turned the other way round, but the result will remain the same.

The above illustrations make it seem simple, yet take a closer look and you will notice that the second example is actually 100 times bigger and has dependencies among various modules. This is why the Move Unscrambler can make the work of your Move developers easier and more productive.

Output

The modular output-gen system of the Move Unscrambler supports several output formats:

- JSON, YAML

- Markdown, HTML

- SVG for diagrams & graphs

We do hope that the new tool will come in handy for all Dfinance users. The Unscrambler is already available for testing, so please give it a try and send us your feedback through our regular social channels! As always, we invite you to subscribe to our newsletter and stay updated about upcoming releases.

The registration for this activity is closed.

All the submissions before Sep 7 will be checked and rewarded according to the rules.

Requirement: You must be enrolled in this program.

How to participate:

1. Create a pirate-themed meme about Dfinance. The references could be Pirates of Silicon Valley, Pirates of the Caribbean, the pirate episodes from South Park or any other cool pirates you know.
   
2. The meme should somehow contain the name or logo of Dfinance. Creativity is welcome! You may play around with the colors and size as you see fit, but the Dfinance reference must be easily noticeable.
   
   Logo options for you:
   
   Round - blue background
   Regular - white background
   
   You must also add any of these plugins to the meme.
   
3. Publish your meme either on 4Chan or on Twitter.
   
   For 4chan, you must publish on this board and make a full-screen screenshot when the meme is published.
   
   For Twitter, it must be posted with the following hashtags: #defi, #cryptocurrency #decentralizedfinance #blockchain #FinancialFreedom. You must also follow Dfinance on Twitter and tag @dfinance_co in your tweet.
   
4. You can repost someone else's meme (if he or she permits it) on 4chan or Twitter and also get rewarded.

How to report:

The registration for this activity is closed.

All the submissions before Sep 7 will be checked and rewarded according to the rules.

Rewards:

4Chan:

• 3 credits/per meme (new/original meme) you can participate as many times in this activity as you like.
• 1 credit/per repost (repost a past meme or someone else’s meme).
  

Twitter:

• 3 credits/per meme (new/original meme).
• 1 credit/per repost (repost a past meme or someone else’s meme) - max 3 times a week).

List of all the participants

Note: to keep a clean and constructive public telegram chat, discussions of the Reward Program will be prohibited. If you have any questions, please check out our blog first; if you do not find answers or are unpleased with them, please PM one of the following team members directly: @luna2, @imnlns, or @amanai

Spread the world about the Dfinance Roadmap on Twitter!
24 hours activity for those that have been following our updates.

Requirements:

• If you don’t have a Dfinance wallet yet, create one. If you already have the Dfinance wallet, you must use it when reporting your activity.
• You must have at least 80% of real followers on Twitter. This will be checked using Twitter audit and other tools.
  

How to participate:

• Retweet this post as a quote.
• Add your own text to the quote.

Activity finished

How to report:

We don't accept reports any longer. The activity is finished.

Rewards will be allocated in Dfinance coins (not credits), according to the table below:

The total pool will be shared between all the participants who completed the task, and reported, and was accepted by the team.

This is a one-day-only activity. Please note the activity will end exactly on 08.12 at 10:30 am UTC and the reporting option will be closed.

If you can't find yourself among the accepted participants, and you believe you did the task right, you can write to us on telegram till Wed 19.08 12:00 am UTC.

Around Q2 2018, the team started working towards identifying new market problems and product fits. After significant business and technological research, we have established the core pillars - the technology and the vision, that define Dfinance. As of today, we implemented:

• An operational testnet, built on Cosmos Tendermint consensus
• Integration of Libra's Move VM and the Move development language (developed by Facebook's Libra)
• Integrated Development Environments (IDEs) & Language Server (allows programming language support syntax to be implemented and distributed independently of any given editor or IDE) - Currently supporting VSCode, Intellij Idea
• Move Unscrambler Beta - Move Unscrambler is a tool that statically analyzes compiled Move scripts & modules (binary) and explains what they can do, writes in human-readable format - md, html, etc. This is part of the formal-verification initiative
• The Move Book, a book guide for developers to the Move language
• The Dfinance blockchain explorer (search functions, indexing, API)
• A rich set of documentation
• The Dfinance wallet - currently featuring authorization, sending and receiving supported cryptocurrencies, the PegZone and staking functionality
• The Proof-of-Stake mechanism (delegators and validators secure network, incentivized through inflation rewards)
• Pre-alpha version of Decentralized Exchange (DEX) which will enable the trading of assets created on Dfinance. Book matchmaking is done on the protocol level (decentralized)
• A basic governance mechanism accessible via CLI for managing protocol development and decisions (based on the Cosmos governance mechanism)
• Emergency protocols - Halts the blockchain under specific very severe circumstances (For example if a blockchain invariant [e.g state of synchronization] is broken. Dnode automatically detects corruptions in user balances and reacts by halting the network, giving time for developers to fix the issue)

Roadmap

This roadmap is subject to change without prior notice.

August

• Registration of nodes will be opened for the upcoming staking contest
• Release of the production version of the Move Unscrambler
• Stability and flexibility improvements to the current oracle system (SDK)
• Launch of Beta version of the oracles system including rewards mechanism for oracle providers
• Preview version of Dfinance Financial Library (DFL) - a collection of financial instruments templates that will enable the launch of new instruments by means of utilizing pre-created and tested DeFi oriented smart contracts
• Launch of the testnet nodes staking contest
• Release of an Intellij IDEA plugin for the Move language
• Beta version of the Dfinance seamless upgrade technology which will be used as a hard-fork prevention mechanism which will enable a smooth blockchain upgrade process in case of major code changes, preventing the need of a complete rebuild from scratch
• Move language Dfinance-specific syntax improvements
• An initial version of the Dfinance inflation model

September

• Ethereum PegZone production version, including an upgrade from the existing Proof of Authority (PoA) to Proof of Stake (PoS) consensus
• Initial UI for the Dfinance governance beta which will enable to submit and vote on new proposals to the Dfinance Financial Library - expanding it with new templates based on Dfinance coin holders consensus and other types of proposals (e.g hard fork)
• Liquidity staking beta release - this feature will enable Dfinance holders to secure the network through staking while at the same time also provide liquidity to the network using the same Dfinance coins
• High-Level Language (HLL) Beta version - a tool that allows users to interact with Dfinance using only suggestive text thus allowing them to design, verify and deploy new financial instruments to the Dfinance network without the need to code
• Seamless upgrade technology (hard-fork prevention) - production version
• Decentralized Exchange (DEX): financial instruments and assets (tokens, synths) will become tradeable on the Dfinance network
• Launch of the WINGS ERC20 to Dfinance ERC20 gateway (optional)

October

• Production release of the High-Level Language (HLL)
• Dfinance inflation model - final
• Security audit(s)
• Launch of the HLL promotion and education campaign
• Testnet heavy testing
• Security audit recommendations - integration of fixes and improvements
• Preparations for Dfinance mainnet launch, including the freezing of features
• End of the staking contest - results summary and rewards distribution

November

• Pre-mainnet final preparations
• Forming and launching of the genesis block (validators, balances, etc)
• Dfinance mainnet launch
• Close ongoing monitoring of the mainnet components and the overall network performance
• Post mainnet hotfixes and improvements
• Launch of the WINGS ERC20 / Dfinance ERC20 to Dfinance mainnet coins gateway (optional)

December

• Beta version of a yield optimizer HLL syntax template, which will enable the creation of yield farming optimization strategies for popular DeFi protocols
• Beta version of the Ethereum PegZone command & control extension which will enable cross-chain command execution support
• A production version of the UI/UX kit which will allow maintaining a coherent design language across the different existing and future interfaces
• Graphic rework of all existing interfaces to a unified design
  

In addition to the features described above in the monthly roadmap goals, we also conduct ongoing maintenance work on all services and maintain an updated version of the Move language, while remaining compatible with the latest Move language changes, including:

• Updates of the Dfinance Virtual Machine (DVM)
• Updating Documentation
• Maintaining the online Move guide (move-book.com)
• Updating the Dfinance Node (DNode)

Additionally, the team continuously works on fixes, improvements, code refactoring and updating to new Cosmos SDK versions as they get released. Lastly, the team is also gradually phasing out legacy code with every update.

Greetings to all Dfinance supporters!

We are happy to inform you that the latest Dfinance testnet release introduced staking and delegation to the network. This is a very significant step forward for the network consensus and we are very excited about this release.

Ugh, Consensus?

A quick explanation for the uninitiated with what consensus and staking are: all blockchains rely on a consensus protocol that helps to secure the network and allows the validation of transactions in that blockchain. The consensus mechanism runs on the blockchain nodes (devices that hold a synchronized copy of the blockchain and, in most cases, also process transactions). The consensus mechanism makes sure that nodes are synchronized with each other and it also defines the rules of how nodes decide which transactions are legitimate and are added to the blockchain. There are a number of such consensus mechanisms, such as Proof of Work (the consensus used in the Bitcoin network), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), and more.

Dfinance is based on Tendermint, a Proof of Stake (PoS) consensus algorithm developed by the Cosmos team. In PoS networks, coin holders secure the blockchain by staking or by delegating. Tendermint also features BFT (Byzantine fault tolerance) which is the ability to tolerate network nodes that are failing in arbitrary ways, including malicious nodes.

Wait, delegating?

Delegation is sort of a software contract engagement between a coin owner and a validator. The coin owner agrees to stake his coins under the name, reputation, and performance of said validator, in return for eligibility to earn rewards. The validator on the other hand usually takes a small cut from the earned rewards in order to pay for the node resources (costs, time, monitoring, etc). The same coins can only be delegated once, so if you have 100 coins you cannot delegate 100 coins to validator A and 100 coins to validator B (but you can do 50-50).

Okay, so what’s staking?

Staking is an integral part of the PoS consensus. In order to secure the network (and in order to gain additional coins from inflation and/or network fees), coin holders put their coins at risk (stake) either by running a node or by delegating to a trusted node. Either way, the coins are locked and remain under the control of the protocol. If the node is under-performing or if it performs malicious actions, the coins associated with this node are partially (or fully) destroyed, or locked for a long period of time.

What are the Dfinance penalties for misbehaving validators?

The current Dfinance testnet penalizes validators for missing blocks with a 1% stake slash and the validator will be “jailed” - meaning that the validator no longer participates in the consensus process until it manually requests to be released. The jailing mechanism is in place in order to prevent continuous punishment of unintentional misbehaviour - for example if the 3rd party cloud computing provider encounters some issue which leads to the validator losing internet access thus becoming unavailable. Double signing on the other hand is considered a very malicious action which is punishable by 5% stake slashing.

To prevent financial loss and in order to be eligible for rewards, validator nodes and those that delegate to validator nodes are incentivized to run high-performance nodes, refrain from conducting malicious activities and safeguard against other malicious nodes. This way, “good” validators are rewarded by the network through inflation (the higher the stake, the higher the reward) and “bad” validators are punished.

So, can anyone run a node and verify transactions?

Yes and no. Anyone can run a validator, but that is not enough. A certain amount of voting power (the total accumulated self stake + delegated coins) is required in order for a validator to be eligible to verify transactions and earn rewards. Usually, only the top X voting power validators get to produce rewards. We say X because the number of active validators depends on the network - for example, Dfinance currently has a maximum of 31 active validators.

Others may also take part in the process of validating new transactions and earn rewards by delegating their assets to one or more of the active validators. If you lack assets to become an active validator, make sure to carefully choose a reliable node to delegate your coins to.  

We hope that this brief introduction will help you get the general idea of the staking process in Dfinance. Soon, we will publish a full step-by-step guide that will explain how to become a validator, delegate your assets, and get rewards. Please subscribe to our newsletter and follow us on our social channels! Stay tuned!

You asked, we heard ! Since we started the reward program we encountered a number of repeating questions. We've gathered all these questions in a FAQ so the information is easily available for anyone looking for answers! This FAQ will be updated with new information and answers.

FAQ Version 07/Oct/2020

IMPORTANT NOTES:

Your testnet “account” is a cryptographic address accessible using a private key (derived from the mnemonic you received during the initial set up), and it can only be accessed by you.

The derived private key is saved locally on your computer and is encrypted using the password you chose during the setup. Every time you sign a transaction you are requested to temporarily decrypt the private key for the signing process using your password. If you forgot your password you can recover the access using the mnemonic (and set a new password).

Access to the address/account can NOT be recovered without your mnemonic. The team cannot access your account or your funds, cannot reset it, and cannot recover it. Make sure to have a safe hardcopy backup of the mnemonic as it is the only way to regain access to your address.

Do not share your mnemonic with anyone else.

Losing your mnemonic might result in the complete loss of your address/account and any assets on that address.

Coin related questions

1. Does the Dfinance network coin have a ticker?

Yes, the ticker is XFI.

2. The XFI ticker is already taken by another project. Will you change the ticker?

Changing the ticker is not a simple matter since the ticker is on the smart contracts level which are already audited and deployed and interacted with as part of the swap.

We are looking into options for mitigating the confusion. Hopefully we will be able come up with something creative which doesn't require a full scale migration.

3. What’s the supply of XFI?

The total supply of XFI ever to exist will be capped at 500,000,000 XFI.

Learn more about token economics here.

4. What is the price of XFI?

Since XFI only exist on the Dfinance testnet for the moment, there’s no price yet.

5. Is XFI listed on any exchange?

As the mainnet network is not launched yet, XFI is not yet listed on any exchange. A $WINGS -> $XFI swap is currently ongoing.

Read more about the swap.

6.What is the target price of the XFI?

The price will be fairly determined by market supply and demand forces.

7.How about a testnet wallet?

The testnet wallet can be found on the following address - https://wallet.testnet.dfinance.co/login

Reward program

1.Will testnet coins be swappable for mainnet coins?

When you take part in any activity and the results are accepted by the team, you will receive credits, not testnet coins. These credits will be swappable to mainnet coins after the dfinance mainnet launch.

2.How long will the reward program run?

The program has started and will continue to run for 2 months following the mainnet release. Note, that the mainnet is planned to be released in November 16.

On September 30 we suspend the reward program. Read more here.

3.Do you accept new registrations?

At the moment, the Reward program is suspended, so we do not accept registrations.

Allocation of credits

1.Does credit mean stake?

No. Stake refers to a portion of the total value. Credits on the other hand are a way to mark positive effort in a way that will allow us to reward that effort proportionally between all participants, according to the amount of effort dedicated.

2.How many credits can I get for taking part in the activities?

We have a detailed spreadsheet with credit amounts allocated to each activity. Please give it a look here.

Technical activity

1.How can I use my account address with the Dfinance coin?

Your account serves as the address for sending and receiving Dfinance testnet coins (and any of other supported transaction types).

2.I sent myself a token but I don’t see it in my Dfinance wallet?

Please go to the explorer and search for the transaction using the transaction id. If you requested coins from the faucet (using the “Request Tokens” feature) and nothing has arrived to your account, try requesting the coins again. If the problem persists please contact the team.

Please note that the PegZone is currently in alpha version and may sometimes not work as intended. We are of course working on it and are planning to release a stable version soon. If you sent test-ETH using the PegZone and it has not arrived after some time, please notify us using our social channels, so we could investigate this issue.

3.How to run a Dfinance node (dnode)?

The dnode can be started either via docker-compose or by compiling and launching the source code, you can read our documentation for more details here.

4.What kind of a PC do I need to run a node? What HD specs will be required?

A  digital ocean node  (8GB, 4vCPUs, 6TB, 160GB SSD) should be just fine for running a testnet node. There might be a future need to increase the node capacity in case of network overloads.

5.Can the rewards program tasks be completed only by programmers or Linux users?

While the technical activities are indeed oriented at programmers and Linux users, we are certainly welcoming you to give it a try! Once we have a Windows DVM build, we expect many more users to join our testnet and earn rewards.

6.I transferred 1.456 1 Dfinance coin however the block explorer only shows 1 Dfinance coin was sent. Why is that?  Also the transaction logs appear strange. What am I missing?

The script sends the right amount, however, there is currenly an issue with the block explorer that prevents it from accurately displaying the transactions originating from smart contracts. To verify that everything is fine, you can check the recipient/destination address via wallet, or you can look at it using the block explorer.

7.How to decode the response from activity 6? While checking for BTC_USDT price from Oracle. I got from tx: {"key": "type","value": "u64"},{"key": "data","value": "xxx"}. Before that, I could check the result by separating the decimals placed and converting them from Hex to Decimal.

The smart contracts data encoding is a little-endian encoded uint64, you can read more about it in our documentation.

Accepted participants

1.How can I know if I got accepted to the rewards program?

You can search for your registered username at this spreadsheet which lists all the accepted participants and their earned credits.

Team

1.What is the relationship between Wings and Dfinance?

Dfinance is a new project by Wings Stiftung (Foundation), the same foundation that developed the WINGS DAO protocol.

2.Where can I see the team?

Below are the LinkedIn profiles of the Dfinance founders:

Boris Povod

Sebastian Stupurac

Stanislav Oskin

Arman Manukyan

The WINGS to XFI swap

1.What is XFI?

XFI is the ticker we have selected for the Dfinance network coin, which will be used for securing and fuelling the network, and settling transactions.

2. Will the Dfinance network have inflation?

Yes, Dfinance will feature a built-in inflation mechanism in order to incentivize network participants such as validators which secure the network. More details about the inflation model will be released soon.

3. Is XFI currently trading anywhere?

No, XFI is currently not trading anywhere and cannot be otherwise acquired. A Uniswap pool may be launched at a later date to allow everyone to participate in our upcoming incentivized testnet, however, details about it will be released using official channels at a later stage.

4. Why are you not allowing a 1:1 conversion during the entire period?

We are trying to bootstrap a new, significantly more advanced network and we want to give everyone the opportunity to join us on this exciting adventure. For this journey to be fruitful, we need to onboard an active and vibrant community. We feel that the swap model will help achieve that.

5. Won’t this lead to gas wars?
There’s absolutely no reason for anyone to try and rush in. Everyone that deposits during the first day receives the same swap ratio; even if someone doesn’t make the first day for whatever reason, the ratio on the second day only goes down by 1/182.

6. What will happen to the WINGS tokens sent to the swap contract?

WINGS tokens sent to the swap contract will remain in the contract for the entire swap period.

7. Is XFI an ERC20 as well?

Since the Dfinance network is still in testnet stages, we decided to use an ERC20 XFI contract which will allow XFI to tap into decentralized platforms such as Uniswap while at the same time allow the Dfinance testnet to operate without balances concerns.

8. Why are we swapping from WINGS to XFI?

WINGS DAO was envisioned as an agnostic forecasting protocol, with ICOs being the first suitable use case for it. As ICOs disappeared, WINGS product-market fit was lost and thus the protocol became irrelevant. We then started researching and looking for a new direction and thus Dfinance was born. Dfinance is an entirely new ecosystem that uses XFI as its fuel. We wanted to give all WINGS holders a fair opportunity to embark with us on this journey.

9. Am I obliged to swap? What if I don’t want to swap?

It’s your decision if you want to be a part of Dfinance or not, however, please read how the swap works and make sure you understand that the WINGS:XFI conversion rate decreases over time and will reach 1:0 after 182 days. If you decide not to swap, your WINGS tokens will continue to function and remain transferable on the Ethereum network. Since the WINGS DAO will continue to exist on Ethereum for as long as the network exists, the utility for the WINGS tokens will continue to exist as well.

10. What will happen to WINGS DAO?

The Ethereum version of the WINGS DAO will continue to exist and function as long as the Ethereum network exists and continues to support the protocol. Unswapped WINGS tokens will continue to maintain their utility within the WINGS DAO.

We see the technology that powers the WINGS DAO as complementary to Dfinance and it is possible that we will launch a modified version of WINGS DAO on the Dfinance network, which will use the XFI coin and integrate with Dfinance instruments and perhaps even other networks.

11. Will I be able to swap after the swap period?

No, swapping will no longer be possible after the swap period has ended.

12. Why will the swap portal block US persons?

Without proper regulation guidelines, or in presence of regulation uncertainty, US persons are prohibited from participating. The Wings Foundation does the maximum possible effort to simply comply with regulations, we apologize for any inconvenience this may cause.

13. Can i just use a VPN to bypass the swap portal limitation?

Absolutely not, that is strictly prohibited. Please respect the rules and limitations.

14. The gas is too high now. Are there any chances that you would postpone the swap?

We can't delay the swap any further  since we need XFI in the testnet

15. I hold my WINGS on an exchange. Will they automatically be swapped?

No. Since the swap is optional, you will need to withdraw the WINGS tokens from the exchange and manually initiate the swap either by interacting directly with the smart contract or by using the swap portal hosted by the Wings Foundation.

16. Which types of wallet are supported for the swap?

The swap portal will only support MetaMask.

If you are interacting directly with the swap smart contract you can use any erc20 wallet as long as you control the private keys of that wallet.

17. Can i send WINGS to the swap contract directly from an exchange?

No. Since the swap is optional, you will need to first withdraw the WINGS tokens from the exchange to a personal wallet and only then initiate the swap either by interacting directly with the smart contract or by using the swap portal hosted by the Wings Foundation. Do NOT send WINGS to the swap contract directly from an exchange, you will lose you WINGS and the allocated XFI.

18. Will I be able to initiate the swap after the swap release date?

You may start the swap any time between the start date and the end date of the swap, however, please note that the amount of XFI received for 1 WINGS token is decreasing by 1/182 per day. In order to receive the 1:1 rate, you will need to start the swap on the first day.

What is Dfinance?

Dfinance is a Cosmos based layer-2, low-code/no-code network that enables creating decentralized financial instruments without technical skills. Learn more at dfinance.co

What is WINGS DAO?

WINGS DAO is a decentralized forecasting platform for conducting due diligence and price discovery. It was launched in 2016 on the Ethereum network and its first use case was ICOs.

We want to thank everyone that supported us on our long journey and continues to support and help. In the meanwhile, please subscribe and follow us on our social media channels. See you all in our upcoming incentivized testnet!

Good news (again). We are happy to announce the new Dfinance testnet version release, nicknamed Balthier (v0.6)

This new release contains a number of significant updates and is a very important step on our way towards launching incentivized staking, and from there - the mainnet. The testnet refers to Dfinance coins as DFI - please note this is merely a temporary solution which will be changed towards the launch of the mainnet).

Dfinance wallet - now, with staking support!

Staking, finally!

The biggest highlight of this update is.... you guessed it - Staking!  Brave testnet users can now launch validator nodes and stake their testnet coins, get or give voting power (through delegation - more on this below), start producing new blocks (and securing the blockchain) and of course, enjoy financial rewards. Running a node on Dfinance will allow users to actively secure the blockchain and participate in the validation of new blocks.

Read more here: https://dfinance.co/blog/dfinance-staking/

Delegation

Delegation allows users that are not interested in running a node to lend their Dfinance coins to trusted validators and start earning rewards without the need to run a node.

Please check out our Documentation for details about setting up a validator or delegating your Dfinance testnet coins to one.

Learn more here: https://dfinance.co/blog/dfinance-staking/

Mentionables

Two important things to note when it comes to validators and delegation: Delegating to a malicious or poorly performing validator may result in the slashing of a portion or all of the delegated amount. Since we're still in testnet stage, this doesn't have a real financial impact but it is important to understand how the system works towards the launch of the mainnet.

The second important thing to note is that validator nodes may charge a fee for their services, so pick wisely!

Lastly, when setting up, validators configure the fee and the liberty they have of making changes to that configuration. When selecting who you delegate to, make sure to take into account the above considerations.

Why is this so important?

Staking is a critical step on our path to launching our incentivized testnet which will feature a special Dfinance staking contest that will enable participants to compete as validators and delegators, and earn real rewards in Dfinance mainnet coins!

While the incentivized testnet will be announced in the coming weeks, the pre-registration for participating will begin soon, so stay tuned!

Balthier includes the following improvements and features:

Features

• Validator full staking support
• Support of up to 31 active validators
• Default Cosmos inflation is temporary in effect
• Slashing mechanics are enabled - malicious or non-performing validators will be penalized
• Additions to the Dfinance explorer and wallet: added validators list, the ability to delegate / un-delegate Dfinance coins and of course - a list of rewards
• Dnode now supports governance-based hard-forks and soft-forks - Dfinance coins holders are now able to vote on soft-forks (like expanding the Move Standard Library), and also vote on hard-forks (major dnode upgrades). At the moment the governance feature is only available through the CLI interface with the UI version to be added in one of the next testnet upgrades
• Alpha version of the Move Testing Framework, covering the entire Dfinance Move Standard Library. You can learn more about the Framework in our Github
• Updated the testnet-bootstrap docker-compose: it now allows launching a validator node easily and without extra complications

Improvements

• Dnode migrated to Cosmos SDK version 0.39.0 which includes significant bug fixes and improvements. See the changelog by Cosmos team
• Dnode CLI/REST refactored and added two features which simplify the developing process for DApps developers:
• DEX: Post/Revoke REST implemented - developers can generate new DEX related transactions using the REST API
• VM: Publish/Execute REST endpoints added - developers can use REST API to generate new publish module/execute script transactions
• Arguments parsing library - all CLI/REST arguments are now parsed by the same library (less code == fewer bugs)
• Updated CLI  help messages - making them clearer and more detailed
• Fixed a bug with address parsing in VM Compiler REST API
• Fixed a bug where an error happened when querying VM data using CLI/REST API
• Fixed a bug with the --fees flag (default value had to be provided as an option, e.g. "—fees=10", now it works again as a standard flag "--fees 10dfi)
• The default fee when sending a transaction was set to 0.0001 Dfinance coins
• DVM was updated to the new Facebook Libra Move VM version:
• Constant variables are introduced, more details in the Move Book
• VM now returns the locations of errors in the source code
• Massive other refactoring and optimizations by the Libra team
• New Oracles module released for the standard library, with a cleaned-up interface, see our documentation for more information
• New storage method of blocks and transactions for the blockchain explorer, increasing the speed and enabling future support of full transactions parsing, (including smart contracts)

As usual, all of our work is continuously published in our public Github repositories, so you are welcome to check out our Github page. (Starring our Github repos would be greatly appreciated! 😉)

Greetings to all,
Following yesterday’s announcement of the partnership with Elrond Network, we wanted to take a minute and discuss the mutual potential of this partnership.

A little bit of background

We met the Elrond team in Tel Aviv approximately two years ago and we discussed their vision of the Elrond network and the general direction of the blockchain industry. The team left an immediate positive impression on us - we have been in the industry for a while and met hundreds of teams and over time we developed some ability to identify (most of the time) do-ers from talk-ers. The Elrond team was a do-er - and we have been closely following the amazing progress they had ever since.

Dfinance was not the first pivot attempt by the Wings Foundation. In fact we have been researching new potential market fit directions since Q2-2018. We conducted market analysis and research, interviews and wrote a substantial amount of internal papers until we actually got to Dfinance. The project was born following some interesting research results which led to a number of interviews we conducted with financial experts - and during these interviews we were able to confirm that the great majority of financial instruments were created by people with financial backgrounds but with no technical expertise.
On one hand we had a huge audience of financial, non technical professionals, looking to express their creativity,  and on the other hand we had the rapidly emerging decentralized finance trend, which while amazing in its potential - demands a lot of technological know-how. And thus we made Dfinance’s mission to become the bridge between the traditional financial world and the world of DeFi.

How it all connects

In parallel, as we advanced with our research and development, establishing the core pillars of Dfinance, and as DeFi became more and more popular, it also became clearer that DeFi doesn’t only make the different existing traditional financial operations more transparent, immutable and permissionless but also makes them composable. This ability to combine different assets, networks and instruments in a “lego” manner, is one of the things that makes DeFi so exciting and why each instrument is unique in it’s design. The collaboration between Elrond and Dfinance was born out of a mutual need for composability, to expand, increase utility and lower usability barriers for users on both sides.

What next

In order to achieve this, Dfinance and Elrond will work together in order to establish a gateway between the two networks which will allow a two way transfer of assets. Through this bridge Elrond network users will be able to access existing instruments and even create their own DeFi instruments on Dfinance while also enabling Dfinance users to create new types of new products that include, or are collateralized by Elrond assets, such as the native $ERD or the $BUSD stable coin.

The teams were able to instantly recognise the potential of the partnership, and the value that each project brings to the blockchain ecosystem. In regards to the partnership with Dfinance the CEO of Elrond, Mr. Biniamin Mincu said:
“An important reason why apps added tremendous value to mobile ecosystems was that everyone could build one. Innovation exploded when tech barriers for fruitful imagination were removed. We’re excited to work with the team at Dfinance to integrate Elrond, and unlock significant potential via their new tools.”

Our very own Boris Povod also addressed the partnership announcement, and said:
“We aim to do for DeFi what Elrond is doing for blockchain - give everyone full access to its potential. I believe our collaboration has the potential to create a lot of value for the new economy”

Now that the pleasantries are done - it’s time to get to work.

Conclusion

We are very excited about this announcement. The partnership between Dfinance and Elrond is aligned with our goals and vision, and we are looking forward to working and creating great things together.
Now really, back to work.