Amazing development for
#Ergon
$XRG
Prediction markets reveal informations and lead to more desirable outcomes and better liquidity for Ergon.
After all, Ergon works bets when everyone follows their incentives and erratic behavior is low.
⛏️🎉 Celebrating the first 50 $XRG mined just recently - let's speculate on the next 50!
Will there be more than 100 $XRG in existence by end of 2023? 👀
Make your prediction ⬇️
(
@ForeProtocol
is a prediction market on
@arbitrum
)
Ergon has no CEO and no founders. it is a community driven p2p electronic cash with no VC interest or ICOs.
So why would developers want to build on Ergon?
We think the answer is simple: Ergon provides devs with tools that can scale
#web3
economies where supply meets demand.
Great article by
@johntamny
This is why Ergon was created. Fixed supply is a silly meme. Ergon, much like rulers and tablespoons, has supply regulated by the free market, due to proportional reward system. More hashes - more coins. Less hashes -less coins
Ergon is an elastic Proof of work currency. It's the first of its kind, and the benefits are huge.
1. No deep capital: since block rewards are proportional to hashpower, early miners cannot capture the supply for free. This is a fundamental issue with
#BITCOIN
. It's not fair.
One of $XRG key differentiators is the lack of "deep capital", that is, since our rewards are weighted by hash, early miners can't get coins for virtually no energy cost. This concept is a backbone to our creation of Proportional Rewards. A truly fair economic system
With Ergon,
#defi
impermanent loss can actually be impermanent because of the equilibrium price. This means market makers experience less IL and more yield for providing liquidity to $XRG
🔊 Everyone check out our first official community recorded broadcast of the Ergon network!
YouTube:
Magnet 🧲 link:
magnet:?xt=urn:btih:b343cdba49aa424d7454fa54cc2dadd03ef0a528&dn=Ergon_Talks_ep_1
New top pick on my radar right now is $XRG
Elastic Proof of work micro cap ($50k)
Ergon $XRG: true digital p2p cash
Benefits:
Ultra Scarce (61 Coins in fully diluted supply)
@ErgonCoin
@ErgonSurfer
@KTrzeszczkowski
Ergon has supply that reacts to demand. The benefits of this are simple :
-Market makers or "liquidity provider" experience nearly 0% impermanent loss
-defi collateral grows with demand instead of shrinking, so the economy can actually scale
-stable collateral prevent
Ergon is the world's first proportional block reward blockchain. This means more hashpower == more supply.
What does this mean?
Stablecoins like $USDT $DAI $USDC are in their way out.
No ICO, no premine, no team. 100% community run.
Join us:
There is a common misconception that Proof Of Work (POW) is wasteful. But Hashing is a mathematically objective truth. By doing work you are building objective truth into the blockchain. Proof of stake solves a very different question (1/6)
Ergon is like bitcoin: durable, portable, irreversible, divisible, scarce, censorship resistant.
But it's different because it is price stable like cash. Making it the most ideal form of money ever created
$XRG
Finally! We have a web wallet to handle ergons in the web browser!
It's delightful to use, very smooth and beautiful. Congrats to
@ErgonSurfer
🎉
Fork of
@CashtabWallet
🙏
🚀 Introducing Calory : The Premier Web Wallet for
@ErgonCoin
$XRG & eSLP Tokens!
✅ Effortless handling of XRG
✅ Simple token creation & management
✅ On-chain public messaging
✅ Swift 0-conf transactions
✅ Ultra-low fees: Just $0.0001!
"In the scenario of a longer attack like a censorship attempt (...) fixed reward and proportional reward systems have different properties in favor of the proportional reward."
"when performing the attack, he receives less reward compared to Bitcoin"
the world has yet to see a stablecoin that solves the trilemma by being sufficiently decentralized, stable, and capital efficient.
$XRG has the potential to solve this trilemma. It's not pegged, or collateralized, it's a base asset, and it's valued based on energy proportionally
#Ergon
is aiming to be a solution for the issue of centralized stable coins by using proportional block reward as a price stabilization
mechanism for peer-to-peer electronic cash system.
When supply meets demand (elasticity), the applications built on top won't only scale in the dimension of speed, but also in liquidity. This has been a key bottleneck to spoiling the attempts of blockchains trying to scale to global adoption.
Elastic versions of bitcoin scale
Ergon is now verified. This is just one small step in a larger plan to make the benefits of elastic crypto more transparent. All while being 100% community funded and operated.
True decentralization.
#Ergon
So what's up with my obsession with
@ErgonCoin
? Everybody has side projects that they want to shamelessly plug on the internet but what makes it actually different? I'm here to answer this to anyone past future and present.
(1/?)
"There is an insidious equivocation hidden within the financial freedom promise. you can understand it as the freedom to go about your business or you can interpret it as the freedom from poverty, the ability to afford things. This kind of "financial freedom" means "being rich"."
2. Proportional rewards stability:
Because Ergon has a supply that is dynamic, price will stabilize as more people trade it. $XRG has a fixed cost to mine, so price always trends towards a stable production cost.
@HyperCeo55633
@ScopeDefi
Great question!
We believe the advantage lies within our demand driven economics. Other cryptos tend to have supply schedules that are indifferent to demand thus the economy is not scalable.
Traditional cash is subject to hyperinflation Ergon is immune to this 😁
$XRG 🙏
Because supply can meet demand in Ergon, fees and costs remain stable. This allows the economy to grow and recover very quickly, without massive bubbles. We think this is the future of cryptocurrencies.
Join us
Like & share
Satoshi built an unstable asset just for us to use it to build stable assets. Ergon is stable to the core, devoid of the violently unstable base. We believe Ergon is the next major evolution in blockchain ledger money technology.
#bitcoin
$btc $bch $xrg
The Ergon Network enables a shift towards stable Peer-to-Peer Payments.
@ErgonCoin
is pioneering a stable, fiat-independent electronic cash system for borderless Peer-to-Peer payments.
Let’s dive in👇🏼🧵 (6min)
Our newest blog post: Ergon Supply Shrinking
The post breaks down three forms of deflationary pressure: lost coins, consumable Ergons, and fractional reserve contraction.
This shows that the supply contraction will be sufficient for elasticity.
#Ergon
Proof of work is not wasteful because it serves a purpose of objectivity. Both in the security and verification of the consensus. work puts an electrical barrier between the chain and attackers. And it also is a statement of fact that the longest chain did the work (6/6)
This is getting out of hand! Now there are two of them!
ⵟrgon Talks episode 2:
(Scaling, politics and AI)
ⵟrgon Talks episode 3:
(Brilliant commentary to the ergon blog)
3. Rational Economics: because of the dynamic supply, supply is not a predetermined factor from a central planner but instead is a result of the free market. When supply can match demand, economies flourish
@divine_economy
Ergon is fair because there's no deep capital, you can't get rich by early mining because the cost is fixed. We think that this is the fairest way to make p2p digital cash
The possibilities are endless when your monetary policy isn't centrally planned. Ergon introduces a mechanism where the invisible hand of the free market takes over supply and allows for unparalleled levels of sustainable growth 🌱
$XRG is P2P electronic cash
Proof of Stake (POS), usually presented as an alternative to POW, is not concerned with the objective mathematical truth. It is a mechanism for deciding who's got the right to confirm the chunk of history this time. (2/6)
(In POS) The freedom to join the consensus is closely tied to the cryptocurrency supply distribution - a new participant has to buy the coins from someone to be allowed to join. (3/6)
4. fixing Deif: defi is powered by stablecoins and deflationary cryptocurrencies. This causes huge risk of things such as cascading liquidations, depegs, and over-collateralization, reducing capital efficiency
5. Liquidity provision: liquidity providers earn fees by adding liquidity to the market. LPs incur something known as impermanent loss when assets become volatile. Because Ergon has an equilibrium, the loss is virtually eliminated, so LPs get better yield.
This truth carries over its weight onto the record of history. It's powered by electricity
Additionally, it is completely unstoppable. It's like digging sand. Nobody can prevent you from participation. (5/6)
Ergon is peer to peer digital cash. It is designed to be equally scarce and price stable through dynamic block rewards. Simply put, Ergon is Bitcoin with a decentralized elastic supply policy.
Supply grows in proportion to demand, resulting in a price stable decentralized cash
the world has yet to see a stablecoin that solves the trilemma by being sufficiently decentralized, stable, and capital efficient.
$XRG has the potential to solve this trilemma. It's not pegged, or collateralized, it's a base asset, and it's valued based on energy proportionally
5. Oscillations and store of value:
Ergon has a fixed production cost, so price always trends to an equilibrium. By buying at the equilibrium, your value remains the same. Ergon will be a safe heaven during speculative bubbles and volatility.
there is a qualitative difference between the consensus algorithms. They answer a different question, solve a different problem.
The miners are not wasting electricity. They are manufacturing something of value - the objective truth. (4/6)
@auditmeplease
@rajatsonifnance
Objectivity and cost. POW is based on energy consumption but POS is self referential, which is dangerous if you're trying to establish value
@zheyiciwoydying
We like Zeph. It's a good innovation for privacy and stability. However our philosophies are quite different. We don't believe in pegs or collateralized stables as they are difficult to scale.
@No_man_one
@Reviewerst
@RuggedWojak
@xeggex
The coin should find a stable equilibrium, it's not supposed to continuously rise unless the mining cost rises.
This meme sort of demonstrates what happens but it's not financial advice.
@OwenBenjamin
This is why Ergon designed a proportional rewards blockchain. Stable price for a real currency, and no early minting that enriches insiders!
@No_man_one
@Reviewerst
@RuggedWojak
@xeggex
Equilibrium depends on the production cost of coins. When market cap was $5k we thought equilibrium was $1k per coin, but after price discovery it turned out to be around $2k.
Price may rise above equilibrium, and it's up to miners and traders to bring it back down.
@itachiseverim
@Defaultplayer13
Remember, all explosions are temporary. Ergon has the proportional reward system - with a constant cost of coins in terms of resources, high price summons new miners to create new coins. It experiences oscillations but there is an equilibrium to which Ergon always comes back.
@lamafolee
@itachiseverim
@Defaultplayer13
Ergon features reward proportional to the hashrate. The more hashrate - the more coins. This is the mechanism that stabilizes the price, but it has some delay and it causes oscillations. It means that although Ergon won't pump long term, you can profit by exploiting oscillations
Peer-to-peer electronic cash must have a monetary policy that is flexible enough to respond to demand.
$XRG does this by making block rewards proportional to work so that supply creates price stability
Unlike most "stablecoins" it does not peg itself to centralized fiat
@c_cdst
Hi! We are available on Xeggex. But be sure to dyor about the project. We created a stable equilibrium for cash and store of value. The idea is to buy at or below equilibrium so that your value is always stored. Buy below equilibrium and sell above it. This is real money.
Ergon is a solution to the former. Its primary goal is to allow people to be free to transact with whomever they want. If you want to get wealthy with Ergon you have to provide goods and services that are useful to society
@Stonks77676205
Also there's no team. It's not "our" coin. It's just an asset that why support. The difference between us and bitcoin is that there's actually a fair price, so when know when it's overvalued & undervalued
@Reviewerst
@DegenHuunter
This is accurate. Please be advised that Ergon will release more supply to stabilize price.
While we cannot give financial advice. we do try to educate traders to understand the price oscillations. More demand makes price go up; and more tokens are released to bring it back.