1 (edited by truman 2019-12-01 16:25:34)

Topic: DLCF -- redeemable SLP tokens

I've created a new SLP token "DLCF", minting 10,000 DLCF backed by 10,000 real Dalilcoin fraenks. These can be purchased and traded (via memo.cash) and ultimately redeemed for the corresponding number of Dalilcoin fraenks.

Here is the memo.cash url for the SLP token:

https://memo.cash/token/358878734192850 … 7044bb4f1c

The 10,000 DLC fraenks backing the SLP token are held at DXx8eaANUejRicsySsp33VE9eF3baDYPpv:

https://dalilcoin.com/proofexplorer/que … eF3baDYPpv

If you obtain some DLCF tokens and want to redeem them for actual Dalilcoinf fraenks, send the DLCF SLP tokens to address simpleledger:qzpf2d2eyjffuzh88nr7zr2p92774kr5k5py4upz5w.

The corresponding memo.cash account (profile name "RedeemDalilcoin") is here:

https://memo.cash/profile/1CuTb7tT2xxha … XfxPaSUYiT

I will manually check the RedeemDalilcoin address once a week or so and for every DLCF SLP token sent, I will send the same number of Dalilcoin fraenks to a certain Dalilcoin address. To get the Dalilcoin address, I will look at the legacy bitcoin address that sent the DLCF SLP token. This legacy bitcoin address will correspond to a Dalilcoin address. If you import the corresponding btc private key into Dalilcoin (using the importbtcprivkey command), then you will have the Dalilcoin fraenks in your wallet.

Since the blockchains are public everyone can verify that the redemption took place and the the number of remaining Dalilcoin fraenks at DXx8eaANUejRicsySsp33VE9eF3baDYPpv is 10,000 minus the number of DLCF tokens that have been sent to the RedeemDalilcoin address. I will never send DLCF tokens from the RedeemDalilcoin address, and this can also be verified on the public BCH blockchain.

I'm initially setting up 13 asks ranging from 25 DLCF at 0.001 BCH up to 2000 DLCF at 0.5 BCH. When some of the lower asks get taken, I am likely to reduce the asking prices of the ones above it.

Re: DLCF -- redeemable SLP tokens

Here's a quick update.

No one has either bought any DLCF tokens or tried to redeem any. Nevertheless, it doesn't take much effort for me to check manually once a week or so and I plan to continue doing so. With little demand it doesn't seem worthwhile to automate the process or try to make it quicker.

Re: DLCF -- redeemable SLP tokens

Since it's been a month I thought I'd again post a reply to verify that I'm continuing to check (once or twice a week) on the DLCF SLP token to see if anyone's bought any or tried to redeem any. No one has so far.

Re: DLCF -- redeemable SLP tokens

This is my monthly update to confirm that I'm still checking on the DLCF SLP token. So far no one's bought any and (obviously) no one has redeemed any.

Re: DLCF -- redeemable SLP tokens

Again, just confirming that as of April 10, 2020, I'm still checking and there have still been no movement of DLCF tokens.

Re: DLCF -- redeemable SLP tokens

As of May 12, 2020, I am still checking and no DLCF tokens have moved.

Re: DLCF -- redeemable SLP tokens

It's June 20, 2020. There's still no movement of the DLCF SLP tokens. It's been well over 6 months so I'm starting to think about alternatives to selling my Dalilcoin fraenks via SLP tokens. If so, I will remove the sell offers for the SLP tokens and then make a post here. Until I make a decision, I will continue to check for movement of the SLP tokens, but probably only twice a month now.

Re: DLCF -- redeemable SLP tokens

I've had the SLP tokens on sale for 279 days with no buyers. Since there's uncertainty about the future of the dalilcoin forum and the future of bitcoin cash (with a likely upcoming split in November), I've decided to remove the tokens for sale.

For the record before removing the sale offers I archived the memo.cash page:

https://web.archive.org/web/20200906104 … 7044bb4f1c

The lowest priced offers were 25 fraenks at a price of 0.001 BCH each. Given that the price of BCH has ranged between $200 - $400 throughout 2020 so far, it's fair to conclude the market price for Dalilcoin fraenks is somewhere below $0.30.