MASS.cloud (MASS) Masternode and staking service



  • Most cryptocurrencies rely on vast amounts of computing power to find a valid solution and submit a proof-of-work claim in order to obtain the reward. Examples of such currencies include Bitcoin, Litecoin, Ethereum (currently), Dogecoin, and Namecoin. As these types of currencies became more popular, the amount of energy needed to run mining hardware increases. The barrier of entry to competing on these currencies is twofold; the costs of hardware and the cost of electricy.
    Recently, however, more cryptocurrencies are migrating to, or launching as, proof-of-stake. Traditionally, proof-of-stake pays out block rewards based on a set annual percentage rate (APR) in the parameters defined by the developers of the coin. More recent projects have opted to reward a static amount per block. Since most wallets don’t support offline staking, it is critical that your wallet remain online with stable and reliable server hosting. Currencies using PoS include NXT, peercoin, PIVX and soon Ethereum.
    Proof-of-stake currencies and masternodes both reward primarily on the value of the wallet. The wallets help maintain the integrity of the entire currency while masternodes perform more computational-critical roles. Getting a noticeable return on vestments (ROI) in proof-of-stake currencies requires substantial initial investment. That investment is locked into a single currency. Many of these currencies do not support offline staking, so the wallet would be required to have almost continuous uptime for it to remain competitive enough to receive block rewards.
    Managing all of these currencies and keeping track of trading, buying, and selling is a daunting task for people that cannot do this full-time. MASS Cloud Ltd. bridges the gap between ease of use and currency fluidity. Our platform performs the trades, buys and sells on select coins, and automatically converts block rewards to Ethereum when paid out.







    MASS CLOUD LTD.

    MASS Cloud Ltd., a Hong Kong-based company, manages the high cost of entry in proof-of-stake and masternode currencies, difficulties in keeping the wallets filled and online at all times, and managing trades between currencies to prevent over funding a single one. We are a team of career professionals with backgrounds in Fortune 300 companies. We believe in the idea of making cryptocurrency less resource intensive by using proof-of-stake implementation, and are bringing what it offers to the public by reducing the cost of investment and complexity in monitoring multiple currencies over multiple exchanges. Our backgrounds are in software engineering, security, virtualization, cluster computing, high-availability ecommerce front ends and back ends, as well as continuous monitoring, trading, and advising on newly announced currencies and ICOs.
    Our goal is to provide a new method of investing fiat currency into a continuously growing cryptocurrency fund that pays out block rewards automatically and fairly across all token holders. We are a company that is taking all of the nuances of investing into different cryptocurrencies, and bringing them together in a simple, coherent and secure platform. Because of our faith in this project, we are locking our share of the MASS tokens for 1 year. Also during that period, we will be unable to trade or transfer the tokens received as part of the ICO7. The rewards from those shares will go back into the pool to help increase the size of the underlying assets held by MASS. This will increase the number of rewards holders receive. This heavily benefits all token holders during this time as it 1) increases rewards while staking, and 2) increases value for the MASS token itself, because the underlying assets are also increasing. By the end of the 1 year locked period, we project that the fund will be in a stable growth that MASS Cloud Ltd.’s employees can begin to receive payouts from their shares.



    TRANSPARENCY & TRUST

    We want to be as transparent and open as possible, while also offering the most security for all token holders. All wallets under the control of the team will be multi-signature wallets to ensure a higher level of security and accountability. Once the ICO ends, the remaining funds (after we receive our 10% share), will be transferred to a new smart contract that will act on behalf of the pool. This contract will perform the following actions:

    • Publish outgoing Ethereum addresses with a waiting period of one week before funds are sent.
    • Publish all staking and masternode wallet addresses along with their transactions to both the blockchain and our website.
    • Publish all exchange wallet addresses along with their transactions to both the blockchain and our website.
    • Transactions above 30% of the entire pool will have a waiting period of one week before being released.
    • Announce and approve a list of new coins to invest in that the MASS token holders voted on.
    • Rebalance currencies to ensure no more than 30% of the pool is invested in a single currency.
    • Currencies that have a 200%+ return when rebalanced will reward all token holders a share of 10% of the return.
    • Prevent Ethereum transactions to unapproved addresses.
    • Keep a public record of all outgoing expenditures so that all transactions can be tracked

    • Create a kill switch that will liquidate all currencies and convert to Ethereum then release the funds to all token holders. This will only be invoked in case of emergencies



    MASS ICO DISTRIBUTION

    • Ethereum Distribution


    • MASS Distribution








    The above pie charts describe the distribution of Ethereum and tokens after the ICO. The percentages represent the total quantity of MASS tokens sold. This means that 88% of the funds raised during the presale and the ICO will be used to invest in other digital currencies. 2% of total Ethereum and MASS are split between bounty programs and prior commitments.




    MASS TOKENS

    MASS tokens are purchased at an exchange rate of 1000 tokens per Ethereum. During pre-sale, purchases are given 30% more tokens until it closes 14 days later or reaches its cap of 10 million tokens. Once the ICO starts, purchases during the first 5 million tokens will receive 20% more and tokens purchased during the next 10 million will receive 10% more, purchases made after the 2nd phase ends will receive no bonus. The tokens are locked during the presale and the ICO and will be released upon the completion of the ICO. There is a cap of 61 million MASS tokens in total.
    The following flowchart helps visualize the structure of the contract and pooling system:

    MASS Token Flowchart


    1. Tokens are purchased by sending Ethereum to the contract. The exchange rate is based on how many tokens have been sold and can be seen in the contract source.8
    2. After sending Ethereum, the contract allocates MASS tokens to the sender’s address.
    3. Once the ICO ends, token holders can send a message to the contract to stake their tokens.
    4. Staked tokens cannot be transferred, traded, or burned.
    5. These staked tokens will give holders a fair payout of rewards.
    6. Unstaked tokens can be traded, sold or burned, but their shares of the rewards are reinvested into the pool.
    7. Burning tokens will give the owner a fair percentage of the total Ethereum value of MASS Cloud Ltd., minus a burn fee to prevent abuse and market manipulation as well as manual oversight

    Once the ICO ends and the funds are released to a wallet controlled by our back end system, they will be invested into multiple supported currencies and masternodes. Regardless of if tokens are staked or not, their Ethereum equivalent will be put to use by the pool. Block rewards are paid out based on the amount of MASS staked for each owner and the amount of time the tokens spent being staked.


    If tokens are unstaked between rewards, their share decreases and the remainder goes back into the pool. This is to prevent token owners from only staking right before a block reward is expected to pay out. The following formula shows the ratios between them.


    To put this to use, let’s take the following example. Bob owns 1000 MASS tokens. The total MASS of the pool is 10,000 MASS. Bob was staked for 25 out of the 28 blocks between rewards.


    Bob gets 8.93% of their expected share. The remainder goes into the pool:


    The pool receives 10.7% of the reward to not only boost the value of the pool, but to also reinvest these rewards into new coins and masternodes. Tokens that are lost and are not staked will not have a negative impact on the pool, since unstaked tokens receive no reward. Staked tokens will always receive their share of block rewards until they are marked as unstaked.




    MASS BONUS STRUCTURE


    During presale and the ICO, purchases can receive extra tokens up to a certain limit9. We are setting a cap of 10 million tokens to be sold during the presale. During this time, all purchases will be given 30% more tokens. Once the ICO starts, the bonus structure will change to the following: 

    • Phase 1 of the ICO will offer 20% more tokens on purchases on the first 5 million tokens. This is outside of the tokens sold during the presale. 

    • Phase 2 of the ICO will offer 10% more tokens on purchases on the next 10 million tokens. 

    • Phase 3 of the ICO will offer no bonus tokens and a flat exchange rate of 1000 tokens per Ethereum is set.


    Presale Inforgraphics


    SECURITY

    One of the most difficult parts of running a successful masternode is securing the server it runs on. MASS is using enterprise-grade service providers that offer DDoS protection, VLANs, and multi-factor authentication (MFA). On top of that is our decades of experience as high-level network and systems administrators. Our plan is to have the masternodes on a private network with dual failover VPNs to a DDoS protected public IP. Should the primary address go down, the VPN will change traffic to a new DDoS protected public IP so there is no downtime.
    To manage your tokens, you will be able to register an account at www.mass.cloud and attach your Ethereum address to it. In order to control access to your account through our site, you will have to send a challenge message to the blockchain. Verified addresses will be cryptographically signed in our database with our wallet’s private key. This ensures that no one can gain access to your account. Even in the unlikely event of a hack, the attackers won’t be able to properly sign the new Ethereum address.
    Along with a standard username/password, users will be asked to enter in a master passphrase or PIN that will only be used to burn their tokens, or to transfer tokens to another address. The purpose of this is to protect against unauthorized access to your accounts, even by us. This secondary passphrase/PIN will also be signed by our private key for another layer of security.





    ROAD MAP 

    Our plans for the immediate future are investor voting and partial staking. We will create and publish new smart contracts that utilize these features, and will rely on the authenticity of the original contract to continue to control the distribution of MASS. We will adopt our framework to integrate with new coins and exchanges as they come online. A full-features road map will be available on our website once the details are locked down, and we begin to work on them.

    Links:

    Website:

    White Paper:

    Twitter:

    Telegram:

    Reddit:

    Slack:

    Github:



Looks like your connection to Cryptocentral was lost, please wait while we try to reconnect.