Please create payouts in interest-bearing coins.

Discussion of development releases of Prohashing.
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ToeKnee
Posts: 23
Joined: Fri Apr 16, 2021 10:07 am

Please create payouts in interest-bearing coins.

Post by ToeKnee » Sat May 29, 2021 9:22 am

I am looking at ways to maximize income earning potential - especially during bear market conditions.

Hello, this is a topic that I have discussed with admins already by creating a support ticket, however, I want to open the discussion to the community to get feedback. At the present time, I am using the Exodus Wallet for a variety of reasons. The main reason is that Exodus allows the creation of "Portfolios," which act as a different wallet with a different address for each coin. This means that it is possible to have a Personal Exodus Wallet and a Business Exodus Wallet and keep the transactions separated for accounting reasons.

That being said, I would like to see Prohashing payouts occur in more interest-bearing coins.

Here is a list of the interest bearing coins that the Exodus Wallet supports:
  • 1. Ontology (ONT) - 13.76% APY
    2. Solana (SOL) - 10.32% APY
    3. Cosmos (ATOM) - 8.95% APY
    4. Algorand (ALGO) - 5.57% APY
    5. Tezos (XTZ) - 5.48% APY
    6. Cardano (ADA) - 4.21% APY
    7. Dai (DAI) - 3.84% APY
    8. NEO (NEO) - 1.96% APY
    9. VeChain (VET) - 1.25% APY
Image

At the present time, Prohashing allows payouts in both Cardano (ADA) and in NEO (NEO). But that leaves 7 other possible interest bearing coins on the table. :cry:

New Feature Request
One Step Further: Auto-Adjust a new kind of Interest Bearing Coin Payout Template According to the coin's current interest rate.
When all the interest rates are added together, the result is 55.34%.
If we were to scale this to a payout template of 100%, then we'd multiply 55.34 * 1.807. (=100 / 55.34)
  • 1. Ontology (ONT) - 13.76% APY * 1.807 = 24.86%
    2. Solana (SOL) - 10.32% APY * 1.807 = 18.648%
    3. Cosmos (ATOM) - 8.95% APY * 1.807 = 16.17%
    4. Algorand (ALGO) - 5.57% APY * 1.807 = 10.06%
    5. Tezos (XTZ) - 5.48% APY * 1.807 = 9.902%
    6. Cardano (ADA) - 4.21% APY * 1.807 = 7.607%
    7. Dai (DAI) - 3.84% APY * 1.807 = 6.938%
    8. NEO (NEO) - 1.96% APY * 1.807 = 3.54%
    9. VeChain (VET) - 1.25% APY * 1.807 = 2.258%
The new values, added together, is 99.983%, which is close to what a payout template requires to be valid.

Granted, I understanding that there would have to be a lot of coding done on the back end to make this even possible in the first place. However, I believe that such an effort would escalate the appeal of using Prohashing to a wider audience.
ahanley409
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Joined: Sun May 30, 2021 9:09 am

Re: Please create payouts in interest-bearing coins.

Post by ahanley409 » Sun May 30, 2021 9:16 am

Love this idea!!!!!!!
Alynn
Posts: 55
Joined: Wed Mar 03, 2021 12:40 pm

Re: Please create payouts in interest-bearing coins.

Post by Alynn » Sun May 30, 2021 10:00 am

Algorand is another coin that earns 6% and is supported by coinbase.
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Steve Sokolowski
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Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Please create payouts in interest-bearing coins.

Post by Steve Sokolowski » Wed Jun 02, 2021 9:02 am

Right now, Steven is adding all of the ERC-20 tokens that Coinbase supports, and he hopes to be done with that in the next few days.

After that, the next step is to see if we can find a thin wallet that would allow us to hold non-mineable coins and send them without having to install the full daemon and implement its API. If we can find software that has a common API for all coins, then we can add a lot more coins very quickly.
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ToeKnee
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Joined: Fri Apr 16, 2021 10:07 am

Re: Please create payouts in interest-bearing coins.

Post by ToeKnee » Thu Jun 03, 2021 7:38 am

This is awesome. More coins = more interest bearing coins = more profit = more cash flow = more equipment = more CPA depreciated asset tax write offs = more hashing power = more profit ... etc etc.
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BMChris
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Joined: Fri May 14, 2021 8:10 pm

Re: Please create payouts in interest-bearing coins.

Post by BMChris » Thu Jun 10, 2021 9:53 am

Yes, I'd like to see these, particularly Algorand, Cosmos and Tezos.
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