A Note to Exchanges

There is a parameter called -exchange that you can run the Komodo daemon (komodod) with, that ignores the rewards when a transaction is sent. One benefit is it allows exchanges to manage their account balances against their accounting software without any modification during account reconciliation.

Note

Enabling the -exchange mode makes the wallet pretend that there is no Reward to be claimed when it creates a transaction. This has the effect of shifting the Reward accrued from the exchange to the miners/notaries.

Example:

If you normally start the daemon using the command:

./src/komodod -addnode=78.47.196.146 -daemon

adding the - parameter -exchange will make it:

./src/komodod -addnode=78.47.196.146 -exchange -daemon

This post on Bitcointalk gives the context related to addition of the parameter to Komodo: https://bitcointalk.org/index.php?topic=1605144.msg17732151#msg17732151

Warning

Please make sure to recreate the wallet.dat with the privatekeys from the previous wallet imported and resync the chain when starting the Komodo daemon (komodod) with the -exchange parameter. Otherwise you will get wallet conflicts as the previous transaction history will have slightly different values before the exchange mode is enabled.

If you were already running the normal mode, to enable the -exchange parameter,

  1. Backup all privkeys (launch komodod with -exportdir=<path> and run ./komodo-cli dumpwallet <filename>)
  2. Start a totally new sync including a new wallet.dat, launch with the same exportdir and the parameter -exchange
  3. Stop it before it gets too far and import all the privkeys backed up during step a) using ./komodo-cli importwallet <filename>
  4. Resume sync till it gets to chaintip

For example:

./komodod -exportdir=/tmp &
./komodo-cli dumpwallet example
./komodo-cli stop
mv ~/.komodo ~/.komodo.old && mkdir ~/.komodo && cp ~/.komodo.old/komodo.conf ~/.komodo.old/peers.dat ~/.komodo
./komodod -exchange -exportdir=/tmp &
./komodo-cli importwallet /tmp/example