Q: What is BORDERLESS?
A: The Borderless Marketplace (“BORDERLESS”) is a user interface that accesses Block Collider’s robust peer-to-peer digital asset trading network. BORDERLESS is the first truly decentralized marketplace which does not broker trades, hold assets, or require trust, but instead places the power of fair trade in the hands of its users.
Q: How do I run BORDERLESS?
A: You must download and run both the BORDERLESS application. Follow this step-by-step guide for an easy to follow setup.
Q: What are the system requirements to run the app?
A: In order to run the Borderless application, you will need the following-
1) A compatible 64-bit Windows, Linux, or Mac computer
2) A broadband Internet connection with upload speeds of at least 2000 kilobits (250 kilobytes) per second.
3) 2GB of memory (RAM)
Q: What is NRG?
A: NRG or “Non-Relational Graphs” are the underlying coin of the entire Proof of Distance ecosystem. It is used primarily as collateral to de-risk, prioritize, and facilitate value transfers between ordered datasets. The technology stack was designed so that any event can be expressed in terms of NRG, be it a trade, smart contract execution, or insurance linked instrument. NRG could be compared to Gas on Ethereum in that it fuels the economics of mining.
Q: How do I get NRG?
A: There is no pre-mined NRG. To earn it, you must mine it. NRG is awarded to block and transaction miners. Each block winner receives 16 NRG + EMBLEM NRG BONUS. Another method to get NRG is to purchase or loan it from a 3rd party.
Q: What does “collateralizing NRG” mean?
A: Trading on BORDERLESS is facilitated by collateralizing NRG, a process which involved locking up a certain amount of NRG as collateral to ensure the trade goes through. Read more about Collateralization of NRG here.
Q: What is the current total number of NRG in existence?
A: Currently the number of circulating NRG sits at around 28.8 Million. As blocks are mined, that number will increase until it reaches 9.8 Billion, the fixed amount of mineable NRG.
Q: What are Emblems?
A: Emblems (EMB) are the utility coins of Block Collider. If you are mining NRG, Emblems attached to your mining address significantly increase the size of your mining reward. Miners who own Emblems earn more NRG per block as a bonus and can issue larger blocks with more transactions. Read more about Emblems here.
Q: Why does BORDERLESS use both NRG and EMB?
A: Emblems and NRG represent an application of ‘meso-economic theory’ in a decentralized blockchain protocol (read more about meso-economics here). One coin, EMB, allows you to upgrade the performance of the network through mining rewards and large blocks, while the other, NRG, powers all of the transactions within the network. EMB is like owning the gas station, NRG is the gas. By splitting the two, the utility of the network is designed to reach a technological and economic optimum through interplay between EMB and NRG.
Q: How much more NRG do I get if I mine with Emblems?
A: The additional NRG granted to users with Emblems attached to their mining address is between 16 NRG and an additional 166 NRG. The algorithm calculating the NRG bonus for EMB is logarithmic. This means that as you own more Emblems, the relative cost of each bonus unit of NRG increases. To get any reward you must have at least 160 EMB and reaching their maximum marginal utility at 5,855,225 EMB. Any amount below 160 EMB does not grant any NRG bonus to a miner.
Q: What is the current total number of Emblems in existence? Circulating?
A: Existing Supply) 300M EMB
Circulating Supply) 100M EMB
Q: How do miners get Emblems?
A: Emblems were made available in a public sale that occurred in April 2018. Going forward, Emblem Leases will be how miners capture the utility function of Emblems, as there will not be any Emblems publicly sold by Block Collider.
Q: What are Leased Emblems?
A: Leased Emblems, demarked as “L-EMB”, are a coin unique tied to an Emblem using the ERC721 standard. The L-EMB is an ownership a contract correlating 1 to 1 with an Emblem. L-EMBs are created when the original Emblem owner decides to convert their Emblem into a L-EMB. L-EMB can be traded to any party until they are executed which allows the lease owner to gain the mining rewards of the original Emblem. The Emblem Lease contract automatically handles the temporary transfer of ownership for the correlating EMB to the owner of the Leased Emblem for the pre-set duration of the lease. During that duration, lease owners take advantage of the mining utility and block expanding function of the Emblem. .
Q: How long are L-EMBs granted to their buyers?
A: L-EMBs exist for durations of 6, 12, and 24 months. After that time, the Emblem will be returned to its original owner.
Q: How to Buy / Sell L-EMB?
A: Emblem Leases can be bought and sold on BORDERLESS or any decentralized exchange that uses Block Collider or a Super Collider.
Q: Can they be sent on to another address?
A: Yes. They can be transferred to a different address without needing to buy or sell it as it is a ERC721 token and on the Ethereum network. A brief search for “how to transfer ERC721 tokens” will provide more guided answer.
Q: Do I have to use all of my L-EMB at once?
A: No. You can execute any number of Emblem Leases that you own at any time within their set duration.
Q: What is the Timble script?
A: Timble, named after Timothy Berners-Lee, is a scripting language created to operate the compiler in the Block Collider multichain.
Q: How does it work?
A: Similar to Bitcoin’s opcodes, Timble is the coding language that allows you to create scripts within the Block Collider ecosystem. These scripts can be fed into the compiler, which also verifies the validity of the script by using the historical Block Collider chain.
Q: What are the use cases for Timble?
A: Any transaction on BORDERLESS can be expressed as a Timble script. For example: the transfer of NRG between addresses. That script would be written in Timble and ingested by the compiler, which would validate the transaction. In this case, the compiler would check if the sending wallet has enough NRG to fulfill the transfer. This is a very simple example, but the use cases are endless! Read more details about the Timble scripting language here and more about creating small businesses using Timble here.
Q: How do I fund my wallets to transact on BORDERLESS?
A: Adding funds to your trading session is simple! Since BORDERLESS is a truly decentralized exchange, your funds are never uploaded to any centralized server or escrow service, you remain in control of your funds the entire time. Simply add the private key from your desired asset’s wallet to your locally running BORDERLESS application and you can access those funds on the exchange. The session is encrypted end to end. There will never be a username or password BORDERLESS stores or requires from you.
Q: What’s a BSEC wallet? How should I use it?
A: If you were a participant in the original public sale of Emblems, you created a BSEC wallet. This wallet holds your Emblems, so simply upload the ETH private key to the BORDERLESS app to access your Emblems.
Q: Does the amount of NRG available in my wallet affect the orders I can see?
A: No. Regardless of the NRG in your wallet, you can always see all open orders on the order book.
Q: What happens when the minimum order % is met?
A: If you set a minimum order % of less than 100%, then a partial order can be filled. This would automatically take the corresponding partial ratio of your order and your NRG collateral and turn it into a complete order. The rest of your order will remain on the order book with the new minimum order amount the same value as the original order, but applied to the remaining balance.
Q: Can the total amount of collateralized NRG be less than the value of my order?
A: Yes, but whether it is accepted is entirely based on the risk appetite of the market for NRG. This in effect creates a price indicator for NRG which means that there will be less NRG for sale when the crypto markets in general are experiencing high levels of volatility. A user who sees a market rate pair may be disincentivized from accepting an open order if there is no guarantee they will get at least their amount of the trade back in collateral if the trade isn’t executed.
Q: Are there NRG fees sent to BORDERLESS?
A: Only network fees (miner rewards) are required in BORDERLESS in order to execute the transaction. BORDERLESS Services, Inc does not receive, charge, or require any fee from the BORDERLESS Marketplace.
Q: What about fees from child chain networks?
A: Yes, there are network fees required on the child chains in order to settle their respective transactions. Examples of network fees are Gas fees on the Ethereum network or Bitcoin fees for the Bitcoin network.
Q: How many blocks need to be confirmed before an individual trade is considered confirmed?
A: The Shift Operator will be defaulted to wait 10 blocks (about 50 seconds) before considering a trade confirmed, however the Maker can edit this number to their preference in the settings window.
Q: What are the min and max deposit (trade) and settlement windows that can be set for Makers?
A: Trade and Settlement windows can be set at 1 hour intervals between 1 and 24 hours on Borderless.
Q: This is great! What can we expect in terms of future improvements?
A: The team is working on a range of feature additions some of which can be viewed on our product roadmap. This roadmap will precede updates made here, making the roadmap the most current state of the strategic direction of Borderless Services moving forward.
Q: Are there any integrations with hardware wallets?
A: Not at this time. However, any wallet which supports ERC20 tokens can support the storage of Emblems.
Q: Will there be a mobile version of BORDERLESS?
A: Yes! Coming very soon, with more details to be released as it gets closer to launch.
Q: How do new tokens get added to BORDERLESS?
New pairs get added to BORDERLESS as new chains are added to Block Collider multichain. This process will occur through a Block Collider community vote (details coming soon).
Q: Are there any Open Source Developer tools available?
A: Yes! In addition to our developer API, there is a Software Development Kit for developers and partners to build custom BORDERLESS applications or features that will be available on launch.
Q: How can Block Collider integrate with and help other exchanges?
A: By utilizing Block Collider’s multi-chain as the settlement layer, and removing middlemen like validator nodes or off-chain order books, other Decentralized Exchanges can make themselves BORDERLESS.