Reflection Mechanism and Crypto: A Deep Dive

Reflection Mechanism and Crypto: A Deep Dive

The concept of the reflection mechanism was newly introduced into the cryptocurrency space a few months back. A reflection mechanism can be defined as a process in which tokens act as a self-generating mechanism for their holders. As every transaction is taxed you receive tokens automatically simply by holding the token. The reflection mechanism was developed with the hopes of transforming the concept of yield generation in the DeFi ecosystem.

 

How it works

These DeFi tokens use a static reward system, which means that every transaction made with tokens that use this mechanism is ‘taxed’. This means that a percentage is added to a liquidity pool for every transaction, and another portion is set aside for redistribution among token holders. As a result, the value of these tokens is self-generating and aims to promote a ‘hold and earn’ culture, which reduces selling pressure. The reflection mechanism is accomplished through smart contracts, which automate the token redistribution, and all those holders need to do is manage the wallet in which their tokens are stored.

 

Projects adopting reflection mechanism

Since the reflection mechanism concept was conceived about eight months ago, many new players have begun to enter DeFi, incorporating this mechanism into their offering. Most of these projects have made significant progress in the last few months, with SafeMoon being a particularly significant project. It was launched on the Binance Smart Chain (BSC) only five months ago and has quickly risen to become the third-largest token in the ecosystem by market capitalization. On their website, SafeMoon list the reflection mechanism as one of their core components, explaining their rapid adoption in cryptocurrency circles.

 

Investor concerns and community support for SafeMoon

The risks and rewards of SafeMoon’s reflective token model haven’t been lost on the larger investment community. In a recent NASDAQ article about the new cryptocurrency the author concedes that one of its attractions with the individual tokens costing so little, “you can get over a million Safemoon with just a few dollars. It also has an interesting hook of charging a fee to anyone who sells and distributing half of that fee to Safemoon holders. This is designed to benefit those who buy and hold.” Coming under more scrutiny is the way the selling fee mechanism works, with a 10% split between existing holders, and the remaining 5% allocated to the liquidity pool. The issue identified by security platform CertiK is that an owner address acquires the pool tokens – giving them control over the tokens funded by the seller fee. Despite these criticisms, there is strong support from investors in Reddit, notably a recent post from user @commecon in the SafeMoon subreddit which argues that the ‘FUD’ around SafeMoon is similar to that which surrounded Dogecoin, and concludes that, “Safemoon is the best investment I’ve ever made. I just need to keep HOLDING.” In contrast, another contributor points out the “lack of transparency and clear communication.”

These concerns surfaced recently regarding the planned launch at the end of August of a mobile iPhone and Android app; plus, the movement of a large quantity of Safemoon tokens, highlighted in a report in Reddit. In response on Thomas (‘Papa’ @papacthulu) from the Safemoon team tweeted: “The chain is obviously transparent, I’m not hiding, the contract owner address was used entirely for business purposes. At no point was a transaction made with the owner address that wasn’t approved by others.” While on the wallet app issues the main Safemoon Twitter account reassured the community that despite delays, the wallet launch was on track: “We truly have pulled together as a community in regards to the #SAFEMOONWALLET launch our beta testers are testing through the night while our Devs continue to work up a sweat! The launch is in sight.”

 

Merits of the reflection mechanism

While the reflection mechanism was designed to address issues such as selling pressure and excessive price movements, other key issues addressed by the reflection mechanism include:

● Security: because fee generation and distribution are combined into one smart contract and do not require approval from any external interface, assets are very secure.
● DeFi yield generation: the reflection mechanism automatically awards bonuses, allowing holders of reflection tokens to use their tokens for staking and other yield generation purposes.
● Fair distribution of earned tokens: because the distribution process is automated, it is based on the number of tokens held by each user at the time.
● Buyback and burn mechanism: to ensure the longevity of their tokens, some reflection tokens use the reflection mechanism to automatically conduct buybacks and burns. This causes a deflationary effect, reducing supply and increasing the value of the tokens in circulation.

 

The allocation model of reflection tokens

Reflection tokens’ allocation model differs significantly from that of other tokens in the industry due to the mechanism they employ. It works by automatically charging a tax, which is usually 10% after each transaction. This tax is then redistributed and shared among liquidity pools, marketing and development fees, and holders of reflective tokens. This is done to improve the allocation model’s transparency and to keep the respective communities informed. All wallets that receive a percentage of this tax are publicly available on the blockchain for effective tracking and accountability.

 

Reflection tokens’ advantage in a bear market

Based on the current cryptocurrency market outlook, there are indications of a bear market in the works, which would significantly impact cryptocurrency prices, with the majority of cryptocurrencies experiencing a significant decline due to a high volume of sell orders from their holders. In this context reflection token holders benefit from having a distinct advantage in a bear market. Despite implementing a self-generating income mechanism, there is still an incentive to hold despite price fluctuations, thanks to the ‘hold and earn’ mechanism and associated culture it promotes.

 

On reflection mechanism

The reflection mechanism is a relatively new concept in cryptocurrency circles, and it still requires a lot of fine-tuning before it can be widely adopted and implemented by other projects. However, in principle, it reduces panic selling to a bare minimum, which potentially could be significant for the DeFi industry. The litmus test is the performance of such tokens in the market in the medium to long term. At this juncture, such tokens appear an exciting experiment, which are certainly worth taking a closer look for your crypto asset portfolio.

 

 

 

 

Source: https://hackernoon.com/reflection-mechanism-and-crypto-a-deep-dive

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

MarketWatch: Learning Through Reflection: “The Future of Blockchain is in Our Hands” – Anndy Lian

MarketWatch: Learning Through Reflection: “The Future of Blockchain is in Our Hands” – Anndy Lian

“For the sake of discussion, I don’t think blockchain can do so much, it will change part of what we are doing right now, but it surely cannot change the world. Bridging the gap between rich and poor is not a job for blockchain. Stopping corruption, fraud, money laundering are also not tasks for this technology. Blockchain can only help to reduce and assist.” Anndy Lian gave a different opinion. “I also see that in the near future, 3-5 years, we will see security tokens go mainstream, and hopefully, the regulations can help to speed up the process for everything else.”

Anndy also gave his comments to the reporter off the stage saying that the future of blockchain is in our hands: “Blockchain is seen like a speculation tool and a big hype to many people and businesses like I have mentioned on the stage. If we want to see a better future for blockchain, we need to do a reality check by not adding on more fluff to the existing hype. We all have our own personal agenda. I can always sing the same song and say things that the general public likes to listen to and make blockchain a savior for humanity, but this is not right. At the right time, we need to properly educate the market and set a good example for our future.”

 

 

Read the full article at: https://www.marketwatch.com/press-release/learning-through-reflection-the-future-of-blockchain-is-in-our-hands-2019-11-22

Read the original article at: https://blockcast.cc/press-releases/learning-through-reflection-the-future-of-blockchain-is-in-our-hands/

 

 

 

 

 

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

StarTribune: Learning Through Reflection: “The Future of Blockchain is in Our Hands”

StarTribune: Learning Through Reflection: “The Future of Blockchain is in Our Hands”

Anndy Lian believes that the future of blockchain is in our hands and reminded all to reflect. He chaired the panel titled “Blockchain Revolution 2030” at the World Blockchain Summit MARVELS on 20 November 2019 at Shilla Hotel, Seoul. Together with the panel of experts, they discussed the future of blockchain and the trends ahead.

The panel consists of Jonathan Kochmer (Former Amazon and Cofounder of RChain Asia), Jay Liang (Chairman of Hong Kong Blockchain Association), Nicola  Nicolas Jacquet (Director of Marketing of HDAC), Anndy Lian (Inter-governmental Blockchain Advisor of APO), Vazgen Yeghiazar (CEO of EDC Blockchain) and Saul Tarazona (Chairman of Fight to Fame).

Anndy started the panel by asking about how they think blockchain will evolve in the next 3-5 years.

“Blockchain will be in our lives without us knowing. The apps and dapps will adopt blockchain in some way or another without consumers knowing much.” Saul commented. Nicholas agreed on the viewpoint and added that blockchain would become a standard protocol, and it will be used very widely as part of the big system: “It will change our lives without us knowing.”

Vazgen suggested that In the near future, we can even tokenize ourselves. We will tokenize the value of an individual and receive direct investment using tokens. “The future of blockchain is unpredictable and I look forward to the limitless possibilities ahead!”

“In the last 150 years, most of the capital has been concentrated on the rich, but in the coming future, blockchain technology will share capital and expand the opportunity for anyone to join the market.” Jay shared his views.

“For the sake of discussion, I don’t think blockchain can do so much, it will change part of what we are doing right now, but it surely cannot change the world. Bridging the gap between rich and poor is not a job for blockchain. Stopping corruption, fraud, money laundering are also not tasks for this technology. Blockchain can only help to reduce and assist.” Anndy Lian gave a different opinion. “I also see that in the near future, 3-5 years, we will see security tokens go mainstream, and hopefully, the regulations can help to speed up the process for everything else.”

Anndy also gave his comments to the reporter off the stage saying that the future of blockchain is in our hands: “Blockchain is seen like a speculation tool and a big hype to many people and businesses like I have mentioned on the stage. If we want to see a better future for blockchain, we need to do a reality check by not adding on more fluff to the existing hype. We all have our own personal agenda. I can always sing the same song and say things that the general public likes to listen to and make blockchain a savior for humanity, but this is not right. At the right time, we need to properly educate the market and set a good example for our future.”

The panel agreed that blockchain has a very bright future ahead for everyone. Industries like finance, gaming, supply chain, medical and more will benefit from this technology. Industry 4.0, automation, artificial intelligence, deep learning,  internet of things will work more harmoniously together with blockchain. Blockchain will aid in closing up existing gaps such as security and introducing a new trust value.

This is the 7th World Blockchain Summit. The event is supported by Ministry of Science and ICT, Seoul, Busan, Korea Blockchain Industry Promotion Association, Busan Economic Promotion Institute, Chungcheongbuk-do Knowledge Industry Promotion Agency, Korea Blockchain Startup Association, Korea Blockchain Industry Promotion Association, Korea Blockchain Society and Korea e-Sports Industry.

Park Bong-kyu, who is the Founder and CEO of World Blockchain Summit is very thankful for the support from the Korean community and also his friends from all over the world who came. At the summit, he also had good discussions on future policies with the Politicians. He had also lined up a group of exhibitors to showcase their blockchain work. Lastly, he made an alliance with Gaimin.io, who is based in Europe to develop on the eSports gaming market.

Korea continues to be one of the key countries for blockchain innovation. There will be more events and announcements ahead for the industry in months to come.

Media Contact
Company Name: Blockcast.cc
Contact Person: Jenny Zheng
Email: Send Email
Phone: +65 98832707
Country: Singapore
Website: https://www.blockcast.cc

 

Source: StarTribune

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Erie News Now: Learning Through Reflection: “The Future of Blockchain is in Our Hands”

Erie News Now: Learning Through Reflection: “The Future of Blockchain is in Our Hands”
Friday, November 22nd 2019, 4:01 PM EST

Anndy Lian believes that the future of blockchain is in our hands and reminded all to reflect. He chaired the panel titled “Blockchain Revolution 2030” at the World Blockchain Summit MARVELS on 20 November 2019 at Shilla Hotel, Seoul. Together with the panel of experts, they discussed the future of blockchain and the trends ahead.

The panel consists of Jonathan Kochmer (Former Amazon and Cofounder of RChain Asia), Jay Liang (Chairman of Hong Kong Blockchain Association), Nicola  Nicolas Jacquet (Director of Marketing of HDAC), Anndy Lian (Inter-governmental Blockchain Advisor of APO), Vazgen Yeghiazar (CEO of EDC Blockchain) and Saul Tarazona (Chairman of Fight to Fame).

Anndy started the panel by asking about how they think blockchain will evolve in the next 3-5 years.

“Blockchain will be in our lives without us knowing. The apps and dapps will adopt blockchain in some way or another without consumers knowing much.” Saul commented. Nicholas agreed on the viewpoint and added that blockchain would become a standard protocol, and it will be used very widely as part of the big system: “It will change our lives without us knowing.”

Vazgen suggested that In the near future, we can even tokenize ourselves. We will tokenize the value of an individual and receive direct investment using tokens. “The future of blockchain is unpredictable and I look forward to the limitless possibilities ahead!”

“In the last 150 years, most of the capital has been concentrated on the rich, but in the coming future, blockchain technology will share capital and expand the opportunity for anyone to join the market.” Jay shared his views.

“For the sake of discussion, I don’t think blockchain can do so much, it will change part of what we are doing right now, but it surely cannot change the world. Bridging the gap between rich and poor is not a job for blockchain. Stopping corruption, fraud, money laundering are also not tasks for this technology. Blockchain can only help to reduce and assist.” Anndy Lian gave a different opinion. “I also see that in the near future, 3-5 years, we will see security tokens go mainstream, and hopefully, the regulations can help to speed up the process for everything else.”

Anndy also gave his comments to the reporter off the stage saying that the future of blockchain is in our hands: “Blockchain is seen like a speculation tool and a big hype to many people and businesses like I have mentioned on the stage. If we want to see a better future for blockchain, we need to do a reality check by not adding on more fluff to the existing hype. We all have our own personal agenda. I can always sing the same song and say things that the general public likes to listen to and make blockchain a savior for humanity, but this is not right. At the right time, we need to properly educate the market and set a good example for our future.”

The panel agreed that blockchain has a very bright future ahead for everyone. Industries like finance, gaming, supply chain, medical and more will benefit from this technology. Industry 4.0, automation, artificial intelligence, deep learning,  internet of things will work more harmoniously together with blockchain. Blockchain will aid in closing up existing gaps such as security and introducing a new trust value.

This is the 7th World Blockchain Summit. The event is supported by Ministry of Science and ICT, Seoul, Busan, Korea Blockchain Industry Promotion Association, Busan Economic Promotion Institute, Chungcheongbuk-do Knowledge Industry Promotion Agency, Korea Blockchain Startup Association, Korea Blockchain Industry Promotion Association, Korea Blockchain Society and Korea e-Sports Industry.

Park Bong-kyu, who is the Founder and CEO of World Blockchain Summit is very thankful for the support from the Korean community and also his friends from all over the world who came. At the summit, he also had good discussions on future policies with the Politicians. He had also lined up a group of exhibitors to showcase their blockchain work. Lastly, he made an alliance with Gaimin.io, who is based in Europe to develop on the eSports gaming market.

Korea continues to be one of the key countries for blockchain innovation. There will be more events and announcements ahead for the industry in months to come.

Media Contact
Company Name: Blockcast.cc
Contact Person: Jenny Zheng
Email: Send Email
Phone: +65 98832707
Country: Singapore
Website: https://www.blockcast.cc

Source: https://www.erienewsnow.com/story/41361660/learning-through-reflection-the-future-of-blockchain-is-in-our-hands

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Learning Through Reflection: “The Future of Blockchain is in Our Hands”

Learning Through Reflection: “The Future of Blockchain is in Our Hands”

Anndy Lian believes that the future of blockchain is in our hands and reminded all to reflect. He chaired the panel titled “Blockchain Revolution 2030” at the World Blockchain Summit MARVELS on 20 November 2019 at Shilla Hotel, Seoul. Together with the panel of experts, they discussed the future of blockchain and the trends ahead.

The panel consists of Jonathan Kochmer (Former Amazon and Cofounder of RChain Asia), Jay Liang (Chairman of Hong Kong Blockchain Association), Nicola  Nicolas Jacquet (Director of Marketing of HDAC), Anndy Lian (Inter-governmental Blockchain Advisor of APO), Vazgen Yeghiazar (CEO of EDC Blockchain) and Saul Tarazona (Chairman of Fight to Fame).

Anndy started the panel by asking about how they think blockchain will evolve in the next 3-5 years.

“Blockchain will be in our lives without us knowing. The apps and dapps will adopt blockchain in some way or another without consumers knowing much.” Saul commented. Nicholas agreed on the viewpoint and added that blockchain would become a standard protocol, and it will be used very widely as part of the big system: “It will change our lives without us knowing.”

Vazgen suggested that In the near future, we can even tokenize ourselves. We will tokenize the value of an individual and receive direct investment using tokens. “The future of blockchain is unpredictable and I look forward to the limitless possibilities ahead!”

“In the last 150 years, most of the capital has been concentrated on the rich, but in the coming future, blockchain technology will share capital and expand the opportunity for anyone to join the market.” Jay shared his views.

“For the sake of discussion, I don’t think blockchain can do so much, it will change part of what we are doing right now, but it surely cannot change the world. Bridging the gap between rich and poor is not a job for blockchain. Stopping corruption, fraud, money laundering are also not tasks for this technology. Blockchain can only help to reduce and assist.” Anndy Lian gave a different opinion. “I also see that in the near future, 3-5 years, we will see security tokens go mainstream, and hopefully, the regulations can help to speed up the process for everything else.”

Anndy also gave his comments to the reporter off the stage saying that the future of blockchain is in our hands: “Blockchain is seen like a speculation tool and a big hype to many people and businesses like I have mentioned on the stage. If we want to see a better future for blockchain, we need to do a reality check by not adding on more fluff to the existing hype. We all have our own personal agenda. I can always sing the same song and say things that the general public likes to listen to and make blockchain a savior for humanity, but this is not right. At the right time, we need to properly educate the market and set a good example for our future.”

The panel agreed that blockchain has a very bright future ahead for everyone. Industries like finance, gaming, supply chain, medical and more will benefit from this technology. Industry 4.0, automation, artificial intelligence, deep learning,  internet of things will work more harmoniously together with blockchain. Blockchain will aid in closing up existing gaps such as security and introducing a new trust value.

This is the 7th World Blockchain Summit. The event is supported by Ministry of Science and ICT, Seoul, Busan, Korea Blockchain Industry Promotion Association, Busan Economic Promotion Institute, Chungcheongbuk-do Knowledge Industry Promotion Agency, Korea Blockchain Startup Association, Korea Blockchain Industry Promotion Association, Korea Blockchain Society and Korea e-Sports Industry.

Park Bong-kyu, who is the Founder and CEO of World Blockchain Summit is very thankful for the support from the Korean community and also his friends from all over the world who came. At the summit, he also had good discussions on future policies with the Politicians. He had also lined up a group of exhibitors to showcase their blockchain work. Lastly, he made an alliance with Gaimin.io, who is based in Europe to develop on the eSports gaming market.

Korea continues to be one of the key countries for blockchain innovation. There will be more events and announcements ahead for the industry in months to come.

 

 

Media Contacts
Company: Blockcast.cc
Contact Person: Joann Park
Title: Reporter
Contact Number: +65 9883 2707
Contact Email: [email protected]
Website: www.blockcast.cc
Location: South Korea

 

 

Source: https://blockcast.cc/press-releases/learning-through-reflection-the-future-of-blockchain-is-in-our-hands/

 

Anndy Lian Blockcast

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j