Veil Blog

Dec 04, 2023
by Sean Phillips

DECEMBER VEIL CATCHUP

VEIL has enjoyed renewed trading vigour with our recent listing on NonKYC Exchange, which has triggered some volatility and bag-filling or profit-taking opportunities for regular traders, while our developer IVAN surprised us with a very nice VEIL light wallet firstly released on the Android Play Store.

VEIL listed on NonKYC EXCHANGE

  • The very capable people at NonKYC Exchange were kind enough to list our VEIL privacy coin for free, along with most of the other popular privacy coins, and to do it enabling deposits and withdrawals via the normal Veil Stealth address, meaning that Veiliens can now deposit and withdraw from NonKYC Exchange using the (GUI) graphical interface of their Veil core wallet (eliminating the need to create a “basecoin” address), and this can therefore even be done with our new RingCT(private)-only Veil light wallet available for mobile phones!
  • NonKYC Exchange opens for the Veil community three markets, including markets not available on other exchanges. We have VEIL-BTC, VEIL-USDT, and now VEIL-XMR! That’s right! Directly exchanging Veil and Monero (XMR). It is even possible for any user to add liquidity to liquidity pools, collecting (their share of, according to the percentage of the pool’s liquidity they provided) 100% of the trading fees on the trades that liquidity pool conducts.
  • Any user can also launch their own liquidity pools enabling swaps between Veil and coins or tokens otherwise not already provided, such as the VEIL-LTC liquidity pool that now exists! You can add your liquidity to the pool, which operates like a normal DeFi liquidity pool, but being off chain, and on a centralised exchange, there are no block time delays or network fees to pay! If the pool you wish to contribute liquidity to does not already exist you can create a new one by paying only $1 worth of NonKYC’s exchange utility token (NKYC token) and providing at least USD$20 of liquidity on each side. This is so exciting, I have to restrain myself from using exclamation marks to end each sentence.
  • Our trade volume is steadily increasing on NonKYC Exchange, and the renewed trading vigour is also lifting the other two exchanges and has provided nice opportunities for regular traders.
  • Keep an eye out for additional listings, but don’t believe anyone telling you about ERC-20 token listings!

Unrelated “Veil” exchange appeared, creating a non-privacy token they called “Veil”!

Out of the blue, recently some people launched a token exchange they called Veil, and at the same time launched their utility token they also called Veil, which then listed on a couple of well-known ERC-20 token swap exchanges. Somehow, despite having a huge token supply and not being a privacy coin, or a coin at all, their so-called Veil has been fairly closely tracking our Veil price, which multiplied by their huge supply gives a crazy high “market capitalisation” given that they just appeared out of nowhere a few weeks ago. It is necessary for this to be mentioned here in the official Veil blog, as it is continually creating confusion that has had to be addressed every day on Discord and Telegram channels, and on 𝕏 (Twitter).

VEIL light Mobile Wallet listed on the Google Android Play Store

  • Our developer IVAN surprised us with the creation of a light wallet freshly launched on to the Google Android Play Store. This is all Open Source, with complete multilingual support for English (EN), Esperanto (EO), Spanish (ES), and Russian (RU), and supports Android, iOS, Windows, and Ubuntu Linux. The Apple iOS version, for iPhones or iPads, for example, is not yet on the Apple App Store, but it is able to be “side-loaded” using an alternative to the App Store. Keep a look out for detailed instructions and guides.
  • We provide the default server back-end for the light wallet, but you can provide your own, using your Veil Core wallet and the Light Wallet API created by our OG dev blondfrogs for the Zelcore multi-currency wallet listing (that we are still waiting for) with the Veil 1.4 wallet.

State of Veil (incentive) Bounties

If the community actively proposes and completes bounty tasks, then you will find them available.

Secret (almost) faucet in the Veil Discord

Letting you know about this might make the faucet funds last for less time before they reduce, but in the Veil Discord there has recently been a faucet channel that is giving out once per day, per user, directly onto a user’s requested stealth address, an entire block reward of Veil! That is 10 Veil per day if you do that simple command. With the Veil market running generally from 10 to 16 Bitcoin satoshis right now, this makes the Veil Discord faucet better than any other faucet I have seen, and is another great demonstration of Veil stealth or RingCT transactions. You wouldn’t know how much the faucet is currently paying unless you tried it yourself, or someone told you.

State of the future RingCT-only staking (zerocoin-removed) wallet development

Presently, the devnet (development network for changes requiring concensus changes) is still 100% up and available for developers, as is the testnet (test network for testing any changes other than consensus changes). The devnet wallet is currently set to stake both RingCT utxos and light zerocoins. There is a current issue relating to the staked RingCT utxos, but it is not actively being worked on right now.

Be assured that unless a new proposed consensus upgrade is in every way an improvement to the current staking method we enjoy, it won’t be deployed. Also, please note that so long as the zerocoins you currently are staking with are minted from RingCT utxos, then they are still private. Veil’s staking and triple algo proof of work are well proven. Also, since a few months into 2019 it was firmly decided to retain proof of work for our Veil blockchain, having several benefits that we definitely do not want to give up.

Reminder that miners on Veil are currently SOLO mining ProgPoW without a pool

With the Veil price still a bargain, there is not consistent pool support. Please let us know if the RandomX pool, fastpool.xyz/, or any others are still operating, or if WoolyPooly or another pool wish to resume running a mining pool. SHA256D is still solo CPU mining. No ASICs have been developed, but this would and will change with a much better Veil price, as incentives develop.

𝕏 (TWITTER) and competing platforms

We would like to encourage people (and ourselves) to get active on all social media platforms such as:

Core development

More developers are coming in, but if you know of people who have an outstanding understanding of Applied Cryptography, ZK Proofs, zkSNARKs, and such things, like serious mathematicians, and have goals aligned with the Veil, cryptocurrency and Bitcoin community, they would be ideal candidates. We have a number of textbook PDFs for others who would like a refresher.

RingCT staking, while running on the development network is still awaiting some bug fixes and further rigorous testing.

The markets

The VEIL price and volume, is providing a fairly wide trading range, mostly between ten and sixteen satoshis, with Bitcoin having doubled its price. A couple of price spikes downward and upward, even ten times upward, on certain exchanges gave those who were prepared some pleasant surprises. Therefore the USD “value” of Veil has also improved, particularly at the upper end of the price range. That being said, there is a long way for the recovery to go, to sustain previous highs, which would be at least 20x to go back a couple of years, and then another ten or twenty fold to get to the mid-2019 levels, beyond which in a general bull market and an advance in the privacy coin arena would be unspeakably better.

  • NonKYC exchange https://nonkyc.io/
  • TradeOgre https://tradeogre.com/
  • Probit https://www.probit.com/

Your input is valued in our DISCORD !

(Please be aware of spam on Telegram and other third party websites. Our native community is on Discord.)

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