Our long-term business model is to provide identity verification to fiat/stock/bonds gateways around the world. That won’t happen for another few months though. The wallet itself must be fully open source as otherwise we wouldn't trust it ourselves.
Moonstone has no external financial backing for now. All development so far has been self funded.
Peertracks is committed to using Moonstone's codebase. Peertracks will contribute to this fundraiser as to offset some of the crowdfunder cost. The specific interface integration needed for Peertracks will be developed later for Peertracks and is not part of this fundraiser. Our plan for Moonstone is for it to connect to multiple blockchains from the same interface and be able to trade between all blockchains' tokens. This will include potentially all DPOS forks and Bitcoin, potentially Ethereum too (in the long run).
Well, access to BitShares of course! But beyond that we have a timeline to add native Bitcoin support and through the integration of Metaexchange in-wallet cross-chain exchange. For V2 or 3 which is pretty close down the line we want to make it possible to verify your ID on the BitShares blockchain so you can trade legal fiat, stock, and bond IOUs from around the world.
The full blockchain is stored in our server (or any server you wish if we reach our goal). We cannot forge any transactions and cannot steal your funds. So yes, with V1 it relies on a central server-client setup.
Yes. You will be able to import your existing wallet securely.
Yes. You will be able to import your existing wallet securely.
V1 of Moonstone won't support TITAN names. So complete migration will only be possible if you are ok with that. Future versions of Moonstone will be capable of doing TITAN transfers. There are some technical challenges we need to resolve first.
Yes. We intend to add this possibility down the line (V2 or 3).
The wallet design we showed in September was the first design iteration we had finished. I think this would be a good time to mention what the development/iteration process has been like so far:
1. Initial design concepts based on Google's newly released Material Design guidelines. Frontend work on the Angular app with Famo.us. Famo.us made it possible to have a buttery smooth UI for browsers as well as on the phone. The premise is "build it once, it works on all devices like a native app". It worked really nicely but Famo.us was at version 0.2 back then and once they upgraded up to 0.4 we had to abandon our plans as it broke too many things. In this iteration we still used the current wallet RPC interface.
2. This is when we started our second iteration of the design with complete overhaul. We put on a second designer and things went a lot faster. We switched from Famo.us to native Angular Material Design frameworks which also helped us a lot. The drawback is of course that for the mobile wallet we'll need to redo it again. We still used the current wallet RPC interface, though now server side as we changed plans for Moonstone to become a light wallet. This is also when we started doing extensive user testing with the half baked interface. We discovered that there would be a 80% drop in likelihood for anybody to use our wallet for every 2 minutes of waiting/loading time (this would include blockchain syncing if this was a full client).
3. After wrangling with for over a month with the BitShares RPC interface and trying to get it to be a scalable backend for the light wallet, we decided that the whole current wallet architecture (including the deserializer) was simply not intended for large scale deployment. It was rather build with the ideological backdrop of everybody downloading the whole blockchain. This was when we made the announcements on the forum and started working on our own RPC interface and deserializer. Right after making the forum announcements we got the client-side universal transaction builder working, though there are still bugs that need to be worked out. We are currently working on the RPC interface/deserializer and the market interface. These two parts are also our two main milestones for the 0.9 release. Once fully tested we will release 1.0 for general use.
What you saw in the demo video all works and is real, however the universal transaction builder needs work and testing as well as the RPC interface/deserializer. The current demo still runs on the current wallet RPC.
It is important to note that we think Moonstone can spur the Startup/project econsystem around BitShares by providing a similar architecture to Bitpay's Bitcore Wallet Suite. That is our intention for our RPC interface. If it works out anything like Bitcore, you'll see many startups use it as the go-to BitShares/DPOS wrapper. Most Bitcoin startups we have worked with have used at least parts of Bitcore, which I think says a lot.
If I am not mistaken the smartwallet proposal includes automatic trading on your behalf. Things like that won’t be possible until V2 with the extension SDK. Then it will be possible to have a wallet daemon running on your computer or a remote server executing trades for you aromatically. Till then this is a simple wallet which awaits your commands.
It is the interface which combined the Bitshares exchange and external exchanges in one coherent interface.
Yes that would be a shame. We are pretty confident though that we will reach our goal. The community has been responding very positively.
We are aiming to create a market solution for the creation of public goods. Combining a pure charity and for-profit model would in our opinion evolve the system into an unstable equilibrium. We have already plans how to potentially solve this dilemma for future Bitshares related projects but that would require our module based approach to be final and tested. Something which will take several more months.
Version 1 is going to be a web and desktop light wallet. However, the overall design and UI is mobile ready. We plan to start working on the mobile implementation right after V1 is crowdfunded and released.
If we succeed in our crowdfunder then we will open source both the frontend and backend under the permissive MIT license. By licensing Moonstone under the MIT license we believe a more advanced DPOS/Bitshares startup and application ecosystem can emerge.
Additionally: If you donate during the first 30 day period you will receive 1.15 MOONFUND tokens for every BTS worth of donations you make. MOONFUNDs will be bought back over time from the internal market at BTS par, meaning you can potentially make a 15% return.
If you donate during the second 30 day period you will receive 1.1 MOONFUND tokens for every BTS worth of donations you make.
The Moonstone wallet will have a set of pre-selected delegates which get voted in (as long as enough people use Moonstone). The income of these delegates is used on a daily basis to set 1:1 order for MOONFUND tokens with BTS on the internal market.
The buyback has no end date, it will run until all issued MOONFUNDs are bought back or buyback orders on the internal exchange are left untouched.
They will either be shut down or a new project is started, depending on community input at the time.
For operational expenses until we get Moonstone ready for the public 1.5 release.
We believe that the public (i.e. the BitShares shareholders) should not take on any risks to which they have not agreed upon. Funding projects through the delegate system with ongoing pay is in our opinion too much risk taking. Instead we believe the best approach is for every team to first build the product, take on risk, ask potential individual risk takers to explicitly endorse the project, and then release the product to the public as a public good (in our case the MIT license). The public then reaps all the benefits of the public good without taking on any risk, as both the developers and the donors have already done so for the public.The public then pays off the donors through the delegate pay.
We listen to the community very carefully and want to be as flexible as possible.
You can get in touch with us via [email protected]
Yes there is one. We plan to release more videos and later also an online testing version for the community.
Good that you mention that! Version 1 of the wallet is intended to be open sourced. The community is really paying for it to become a public good rather than to become something closed source like coinbase. We included the buy-back mechanism just so at least some of the risk can be covered and so that at the end the community as a whole can repay the risk takers (via the delegates) for a public good, without having to take on risks which the public did not agree to.
As for selling stock, we hope to be able to do that for V2 and 3 of the wallet for which we already have the featureset defined. That is when the wallet will be able to ID users for gateways. Turns out we can do that quite easily and legally in Kosovo, we're just trying to figure out the legalities of offering stock in this way to citizens in the US, China, and other places. Many countries seem to have "lockin" laws which we might not be aware of at this point. With a successful initial fundraiser for the MIT license we know we can finish up the wallet properly and get to the next stage faster.
The wallet will be released, and used by the community, just under different licensing. The delegates will also be pre-set and with the same method we will buyback MOONFUNDS as planned, regardless of whether we reach our goal or not.
Moonstone is primarily a web application but can be downloaded to your computer similar to how the current BTS wallet can be downloaded. You can chose to either download only the thin client or the full package including the server.
The bids for the buyback will be set automatically daily on the BitShares exchange. BitShares treats all bids and asks FIFO.