ebc-plainbackground-01.png

GET THE LATEST.

Tokenomics & Governance AMA With Bob Reid (Wed 29th Dec 2021) Transcript

Eno:

Anyone know what the token reward will be for people using an individual's referral code? I know those rewards are locked for the time being, but would love to know.


Bob:

It will be the same as the eAgent model posted on the website. The referral codes will be available in January.




A Frank:

If Tether is hit hard by regulations and or is severely affected by other market forces, is there any plan to add more trading pairs with ID on Centralized exchanges?


Bob:

There will likely be more pairs with ID tokens on an Everest-powered DEX. Additionally, CRDTs will likely be paired as well, especially as we build out the interoperability with Polygon and others.




kev:

how do you market a company that has a structure so complex that “very few grasped”


Bob:

Similar to Ethereum, which is capable of supporting 1000s of use-cases, but initially focused on a handful, Everest is starting with “here’s the next generation of blockchain…..with identity included. Like ALL economies, identity is required.”


We will focus on fast, cheap value transfer with regulatory compliance and similar use cases as our initial handful. And similar to Ethereum, we will open the network to allow 1000s of more use cases.




A Frank:

Are the team allowed to run validator nodes?


Bob:

Awaiting a legal opinion




A Frank:

Now that the vote has been reported, when do the new tokenomics take effect, specifically when is the last day one could stake for 40%


Bob:

Jan. 15th ish. Anything staked after that will be put towards the testnet at the updated rates.




butter masala:

What is the updated roadmap for Q1 2022.


Bob:

we hope that the community will give additional input, and publish an update later in January. Additionally, the Everest engineers will have more precise dates on a few items by then as well. Stay tuned.




Jaro:

Is there anything that prospective Validator Node Operators should be doing now to be prepared to spin up a node when the network goes live?


Bob:

Nope, nothing needs to be done to prepare




kev:

is the DEX moving to everchain going to happen this Q or could you expound on reasons for delay? i understand that what you’re building is more complex that meets the eye so if you could elucidate, that would be kinda cool


Bob:

We had to prioritize the FTX integration, and how CRDTs move over EverChain to facilitate buy, sell, trade……increasing transactions. As such, I expect there will be multiple CEXes accessed over EverChain, and the liquidity pools that come with the DEX will be pushed out to later in Q1.


Additionally, as mentioned in a previous AMA, DEXes are increasingly coming under regulatory scrutiny (they're going to require licensing with specific rights).




Juan Reealyeti:

When will liquidity be added to BSC?


Bob:

Liquidity is not something any professional, legitimate project can comment on. That said, it was announced that liquidity on pancakeswap from the previous bridge should be removed by Jan. 13.




Juan Reealyeti:

when can I change the picture and cell in my everestwallet?


Bob:

I really want this one too. I’ll update the eta as part of the roadmap in Jan.




Lee (Everest):

Can you give the community an update on iOS?


Bob:

Falling on my/our sword here. I pushed the guys VERY hard, and after multiple swearing on bibles that it would be ready by Dec. 30, the iOS is getting delayed a couple of weeks. I’ve heard and you’ve heard it all before……QA resources during the end of Dec were hard to come by, etc, blah, blah, excuses. TBH, I’m so pissed about missing this that I’ve reorganized parts of engineering, hired “project managers” to ensure we get closer to hitting our dates.




Lee (Everest):

Thanks Bob, can you give any updates on Android?


Bob:

Android was updated yesterday with Cara, so a 75% reduction in timing for login (3+ seconds), and increased accuracy. It's still alpha, but catching up with web features.




Lee (Everest):

The community would also like to know if there’s anything you can share on partnership status?


Bob:

A few, like Aave and Sushi, require pull requests and approvals on their side. FYI this is a change on their side from when we initially started work together, as lots of projects now need to have the community vote on an integration (instead of mgmt just approving it), so those are back on-track, but we had to deal with our partners’ changes.


Other partners, like Polygon, Ocean, Chainlink……we’re going bigger than what we originally communicated, and that required additional engineering. For example, sharing identity data over “EverHub” into Polygon, BSC, AVAX, DOT can be done via NFTs much easier with more privacy - that required more work than we previously scoped. Similarly, one of Everest’s patent-pending inventions is to enforce financial regulations in smart contracts, so you can envision how that might help a Chainlink or similar network; again, this is an increase in scope, but clearly worth a couple of months of engineering work. Oracle and Kina are ongoing, but got a bit delayed due to the Cara updates.


Ultimately what our partners have realized is that the regulatory guidance from the US and EU, which is our lighthouse, is all coming true. We’ve been building towards a regulated future in this space since our inception. All of our partners see the same future that we do, and they want to be able to participate.


Regarding fiat-in/out and global access, we have accounts in the US, Europe, Singapore, New Zealand, Mexico, Brazil, Australia; we can do a few services in Vietnam, Japan and South Korea as well. Additionally, we recently signed a partnership with a partner that supplies corridors into the Philippines, Malaysia and others……should be able to announce that later in Jan. Generally, we’re 98% done with the engineering, but did not adequately budget for the testing and approval processes, which take several weeks in some cases. Again, with better project mgmt in place, we should be better about delivery dates to market instead of dev-done.




Lee (Everest):

Thanks Bob, do you have anything else you can share today?


Bob:

Opening EverChain to be permissionless, community-governed AND endowing the Foundation with the tech to supply every human being with biometric identity + wallet + access/ID tokens is a pretty big deal.


Thinking about the previous question of how to market, here’s a platform that is open to everyone in the world (like Ethereum and other L1s), but it’s fast, cheap + identity integrated & private + access to regulated financial services. Superimpose the regulations that are coming to all of crypto (stablecoin = fiat backed; DeFi = KYC & BSA, etc.), and you’ll see that the Everest ecosystem is optimized for this future.


FYI we recently finished our first audits, and are on our way towards MiCA-compliance (when that gets approved). And we're seeing more discussion and harmonization on regs between the EU and US, so feeling really good about our position.




Click here for post AMA questions and discussion

250 views
ebc-plainbackground-01.png

FOLLOW US ON TWITTER...