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Spaces
L1X: Launch Day 🚀
Recorded: April 2, 2024 Duration: 1:12:31Space Recording
Full Transcription
This is a video of the video.
The exciting times of
X Spaces
just nuking us at the very beginning.
Okay, I think we're back.
Can anybody hear me?
Yes, we've got you.
Fantastic.
Hopefully we don't have
too many issues.
I know that Spaces has been a bit
it's been a bit
tentative recently
and CryptoNort can definitely attest to that
in the amount he's been jumping into
that a lot of them have been a bit sketchy.
So let's just do the best we can
with the materials we have.
Exactly.
Gotta love X Spaces.
It'd be amazing if there was a group
that came up with their
own version of it.
Okay, now let's just do a quick sound check.
Chief, CryptoNort, Kevin, Spark,
I've got all of you up here.
You can all hear me.
I can all hear you.
Yep.
I can hear you.
Yep.
Yep.
Yep.
All right.
Let's kick this off proper.
LNX launch day.
2424.
How exciting.
You know, lots
obviously to go over.
I won't natter on too much.
I think I've already done enough of that.
I'll just pass straight over
and let's
let's get on.
Yeah, thanks for that.
I'll take this one.
First of all, good morning,
good afternoon, good evening,
wherever you are.
It's very exciting.
I think, you know,
getting started in 2021
with this ambitious vision
of, you know,
one day being able to host
all the applications
that are built on the blockchain,
you know,
and allow them to go multi-chain.
It was very,
very, very ambitious project.
But first of all,
thank you to all the community members.
You guys have been amazing.
You guys have been patient.
And from the vesting schedule,
you know,
and the opting in,
we can see that,
you know,
you have shown your loyalty
and commitment to this,
regardless of the bonus.
You know,
the bonus is an add-on.
But, yeah,
so I think let's get into it
and let me, you know,
start explaining
what the TGE is,
you know,
for those of you
who must have missed out before.
And we'll take it from there.
So first of all,
just to give you a bit of stats,
as of yesterday,
you know,
6 p.m.
AWS T,
only 30% of the users
had participated in Xperx.
Now,
there are 70% remaining.
it's pretty,
you know,
I mean,
it's pretty
surprising.
But at the same time,
I think the numbers
are increasing every day.
Like today morning,
I checked,
it's gone up by 5%.
that's good.
Now,
one of the things that
we need to make sure is
we have a minimum amount
of people
who have gone through
the Xperx
because
the way it works is
mainly has
a distributor
on the node
and that distributor's job,
you know,
is to make sure that
everyone's balances
and the distribution
of coins
according to the
vesting schedule
is on track.
Now,
majority of the people
have cliff
and then the vesting begins.
But of course,
the bonus
is in place as well.
Now,
we need to make sure
that we reach
a minimum of,
you know,
before we
start the vesting schedule.
that can be
any time now.
But again,
as I said,
we are all ready
to go from
the ability
to turn on
the transfer
of the coins
and the 20%
bonus to be distributed.
but we need
to be fair
to each and everyone
in the community.
the moment it goes
70%,
I hope it goes quick
and we can start it off.
the transferability
of the coins
will happen
once that 70%
kicks in.
Right now,
it's 35%.
We are half at
where we need to be.
Out of the current
expert participants,
68% people
have participated
in platinum tier.
3.8%
have opted out
and the others
are in the silver
and the gold vesting.
those are pretty,
you know,
good numbers.
I think they're
pretty good numbers,
you know.
And we have also
started,
you know,
allowing the projects
that we are working
with to host the nodes
and syncing
your balances across.
what that
means now
neither me,
neither anyone
can change
the balances
that you have
in the,
once you have
gone through
the data sanitization,
the expert
and the node NFT,
now that can't
be taken away
from you.
that's,
that's,
that's the token
generation that has
happened on multiple
different nodes.
Now,
that's not
reversible.
you know,
congratulations
to each and everyone.
I think it's a big
milestone for us.
And,
you know,
yeah,
I look forward
to giving further
updates,
but this is,
this is what it is
for now.
Yeah,
and I'll just,
I'll just jump in there
as well.
basically,
what we've got,
we've had,
just to kind of follow up
on what Kevin's saying
is that we've had
quite a few requests
of people
that haven't completed
the XPX program
to either
where they help
them through it.
We've got a few,
quite a few people
that haven't really
done much with crypto
in the past,
so they kind of need
to be walked through.
We've got people
that are still trying
to figure out
how to start
because they're not
crypto savvy
and not wallet savvy.
And so,
at the moment,
as Kevin said
from yesterday
or update today,
I think he just said
there's only about
35% of people
that have gone
through XPX.
That means there's
65% of people
that could be eligible
for vesting day one
that haven't completed
the process yet.
And so,
it means that
to start the vesting,
what we want to do
is make sure
it's an even
playing field
when we kick
the vesting off.
that's why
we want to get
to that kind
of threshold,
minimum threshold
of 70% of people
through XPX.
And so,
I just wanted
to talk about
like the different
vesting,
just so everyone
understands
and maybe talk
about it again
so we can get
all these people
through
so we can reach
this minimum
threshold.
And so,
XPX is,
participation in XPX
means you've
either opted in
or you've opted out.
Now,
it's mandatory
for seed,
private,
term sheet,
and team
to opt
into XPX.
You must choose
either silver,
gold,
or platinum.
And there is
like a full blog
on how you go
through it,
your data sanitize.
Once you've
data sanitized,
you select your
XPX vesting tier
and we've got
information out
there that
we'll be sharing
again just to
make sure everyone
knows what the
process is.
to date,
while we've
had quite a few
through,
it's still only
35%.
Now,
so that's one,
opting into
XPX.
The other option
with XPX is
opting out.
Now,
opting out
means you're
either being a
public sale
contributor,
you're either an
airdrop winner,
or you're a
KOL program
participant,
or you've
been eligible
for some
sort of
competition
win.
Now,
all of these
people have
the ability,
if they choose
to opt out,
they can still
opt in,
it's still an
option,
and actually,
you know,
a good percentage
of people
have still
opted in.
But you
can also
opt out.
Now,
by opting out,
it means your
vesting starts
from the day
one of
vesting.
Now,
we've still
got 65%
of people
that haven't
completed that
point.
And so,
as Kevin
mentioned,
we want to
make sure
there's a
fair playing
field,
so we're
getting at
least a
majority of
people through
that,
so when we
start vesting
everyone,
well,
the majority
of people
are getting
their coins
at the same
time.
Kevin gave
an update
on the
experts'
participation.
You know,
we're seeing
a lot of
people opting
into Platinum,
which is
excellent.
The ELNs
are all
taken now.
We've only
got a few
FVNs left.
We've
had only
a very
small percentage
of people
opt out.
Now,
so with
the coin
vesting,
we want to
start that.
They're
looking to
get the
minimum
threshold of
of people
through
experts.
And so,
as Kevin
mentioned,
I think at
the beginning,
it's all
ready to
flip the
switch for
TGE,
tradeability,
transferability.
But we want
to make
sure that we
get the
majority of
people
vesting at
that time.
And so
we're halfway
there,
as Kevin
said,
35%.
Once we
hit the
70%,
vesting will
then begin.
We'll continue
to update
the community
on the
vesting,
on how many
people have
gone through
the vesting.
But I just
want to urge
anyone on
this call who
has not
completed or
has not
started or
is having
issues with
vesting,
please jump
into the
L1X app.
If you're
having an
issue with
completion,
please raise
all the
information to
how to
do it,
just so
you can
actually get
through and
complete the
XVEX vesting
opting in or
opting out.
And so that's
a really
important critical
factor.
We want to
make sure that
the majority
of people have
their coins
ready to
vest.
And so we're
halfway there,
we just need
to get to
that 70%
mark.
We can
give you,
and so also
with,
that means
that'll be
the key for
the vesting
to kick off
at that 70%
people through.
Also,
with the
liquidity
bootstrap
participants,
your vesting
in the
liquidity
bootstrap
will start,
or your
claiming or
your vesting
over the
120 days
will start
when the
vesting
starts.
But the
1% daily
rewards will
continue up
until that
vesting
period.
So ideally,
we'd like to
try and get
everyone through
this week.
I don't know
if that's
realistic.
It's up to
the community
really to get
through and
get into
Xpercs so
we can get
to that
mark,
but we
will be
continuing
to update
everybody
on the
progress of
But we do
want to also
give some
other updates
as well.
We want to
give you
updates on
what we're
doing with
centralized
exchanges.
We want
to give
you updates
on what
we're doing
with
decentralized
exchanges.
We want
to give
you updates
on node
hosting and
staking
availability
as well.
But in
terms of
the vesting
period,
that
I'm not
sure if
Matthew's
actually
cut out.
I think
it cut out
for me
as well.
Yeah.
Sorry.
Can you
hear me?
Can you
hear me
now?
Let me
hear you
now.
Okay.
The last
thing I
heard you
saying was
you were
having
problems
wasting
your
million
coins
something.
Yeah.
I think
I managed
to get
Joe Riento's
private key.
Yeah.
So now
he's all
good now.
So yeah,
look,
we've got
we've
still
forgive me,
I might
be repeating
something
I've already
just said,
but I'm
just going
to assume
that most
of it
cut out.
So we're
currently
now just
to reiterate
what Kevin
said,
we only
have 35%
of people
that have
come through
the experts
and completed
What we want
to do is
we want to
get that
minimum to
70%.
Can you
guys hear
me now?
Is that
better?
Yes.
Yeah.
Okay.
Awesome.
We want
to get
that to
minimum
to 70%.
We want
to at
least make
sure the
majority of
people have
a fair
starting line
when the
vesting starts.
And at the
moment,
there's only
35% of
people that
are through.
So there's
65% of
people that
are not
going to be
currently not
at the
starting line
with the
others.
So we want
to get
the majority
of people
there.
We've had
many requests
of people
that require
help through
the expects
program that
have asked
us to
basically
requested
us to
have the
vesting
start when
they've
completed.
So we've
had lots
of requests
from the
community
coming through
on the
tickets.
I've lost
Matthew again.
Is that
just me?
it's all
of us.
Yeah,
I think
he's cut
out.
he might
be back.
so how
about now
guys?
Can you
hear me?
Yeah,
cool.
So anyone
listening that
has not
completed
experts or
has not
gone through
experts,
please,
there is
information
on the
blog,
on the
wiki of
how to
complete
that
process.
I urge
you to
go on
there.
If you
have any
issues,
please raise
a ticket
so we can
resolve
them,
so we can
get people
through
experts
process
quickly
possible.
Now,
in terms
of getting
people
through
so we
can get
to that
70%,
once we
hit the
minimum
of 70%,
then we
can open
up the
vesting
and so
everyone
has a fair
chance to
get the
vesting
at the
same time.
We've
still got
lots of
people that
need to
go through
vesting
and so
we want
to get
majority
through
so we
start
that
off.
Kevin
mentioned,
we're
ready to
roll.
It's
just that
we don't
want to
be unfair
to those
people
that have
either
halfway
through
through
possible
so we
can get
to that
as soon
as we
can.
But there's
other
updates we
want to
go through
as well.
We want
to give
you updates
decentralized
exchanges,
node
hosting and
staking
and all
those other
ones.
But in
terms of the
percentage of
people that
have gone
through
Xpercs,
we'll give
you regular
updates
just so we
can keep
you updated
on how
many people
were through
so we can
get to
the 70%
mark.
But maybe
Kryptonaut,
do you want
to give
maybe an
update on the
decentralized
exchanges?
Chief,
if you want
to go
through
decentralized
and maybe
Kevin,
if you want
to talk
about
node
hosting and
then afterwards
we can
take some
questions.
For sure.
Sounds
great.
So, yeah.
Yeah, so
as we've
mentioned
earlier,
we are
ready to
go out
with
Bitmart
Mexi
as our
initial
listings.
Everything,
just to
kind of give
you an
update with
them,
all of
documents
are in
with
them,
all of
final
payment
requirements
have
been
completed
with
them.
We're
just
basically
waiting
for that
final
thumbs
from
Mexi
Bitmart
which is
currently
in the
process
of this.
This is
their last
little bit
of audits
and also
just kind
of setting
up some
marketing
kind of
activities
on their
end as
well.
that's
well
underway.
These
listings will
be part
of over
the next
week or
We should
be getting
that.
Along
with these
CEXs
coming into
play here,
even though
we're still
waiting on
them for
wrapping
things up,
just to
kind of give
you a
broader
stroke as
to the
things behind
the scenes
as well when
it comes to
these exchanges,
is that
one of our
resident
badasses in
is helping
me and
we are
currently in
the process
of communicating
with about
four to
five CEXs
that are
tier one,
tier twos.
And they
are about,
I would say
about 70%
of the way
through the
process,
which means
that we
have some
agreements
with them.
They are
working through
the technical
analysis and
review of
our code
that we
have
available
for them.
And so
we're just
kind of
waiting for
them before
we can come
back and
kind of wrap
things up
with them.
So over
the next
month or
so, we
should be
seeing some
good movement
in us
getting a
broader
stroke for
us being
able to
get out
there in
terms of
getting
listed on
various
CEXs.
Thanks,
CryptoNaut.
I'll just
give a little
update on
the DEX
side of
things.
Now, at
the moment
we've got
the L1
DEX team.
They've
chosen just
to wait
until they
get the
source code
which will
be released
across over
the coming
weeks, which
is really,
really good
to get
the open
source out
there.
Now, at
the moment
the source
code itself
is proprietary
to L1X
Foundation and
what we're
looking to do
at the moment
is protect
the interest
of all
coin holders
and at
the moment
can't be
given out
but we
will be
releasing
that over
the coming
weeks once
we've fully
out there
listed and
launched
with multiple
different
exchanges.
Now, it's
important to
point out that
the L1X
balancer pools
are being
updated for
the swaps
and more
pools are
being added
as we
progress over
the coming
weeks.
Kevin's
updating the
exit pool
functionality
where your
balancer pool
tokens can
be used
to exit
or swap
out with
other tokens
that are
in the
pool.
This will
be introduced
as best
in commences.
We've also
got a number
of other
agreements now.
Whilst we're
working very
closely with
L1X,
because we're
an interoperable
protocol, there
is nothing
stopping any
other decks
from building
or connecting
through to us.
We've had a
number of
conversations
already with
other decks
and they're
very, very
keen to
come on
board.
People go,
what's the
difference
between a
CEX and
a DEX?
Well,
CEX is
centralised
exchanges,
putting it
bluntly,
which means
that users
are transferring
their assets
across through
that exchange
to purchase
or to sell.
Whereas the
DEXs are
really,
they've been
emerging over
the last five
years or so
and challenging
the CEXs.
The objective
there is the
DEXs are
decentralised
so they
don't take
custody of
your assets
and we've
got DEXs
out there
that are
there's ones
that we're
talking to
and I'm
just going
to say
I guess,
the names
of Aerodrome,
Velodrome,
PancakeSwap
and SmartX.
There's a whole
bunch of those
DEXs that we're
actually talking
to in great
detail and we've
got agreements
that are going
in place right
now with them.
so we hope
to have
listings out
there and
also interestingly
Kryptonorder
has been
working on
a little bit
of an overview
or a bit
of a DEX
that we can
pass out as
a white label
solution.
So there's a
whole bunch of
things happening
there as well.
Yeah, I'll just
jump in there as
well.
The opportunity
we have when
we're talking
about DEXs
on other
chains.
It just
gives us
an opportunity
because L1X
has the
ability to
be that
interoperable
token or
interoperable
coin and
the technology
that Kevin
and the
dev team
have built
allows the
L1X coin
to sit
natively on
these chains
as well.
So BNB,
ETH,
you know,
Optimism,
all these
chains.
So what
that gives
us an
opportunity
is to
have the
ability
to tap
into these
other
users that
are on
these other
chains and
present them
the opportunity
to purchase
and provide
liquidity for
L1X as
well as
the main
DEX,
the L1
DEX guys
are building.
And I think
Kevin will
probably go
into a little
bit more
about the
source code
release because
we'll be
giving that
over to
everybody
open sourcing
that.
The L1
DEX guys
will get
that as
well so
they can
build out.
I'm sure
they're going
to build
something
amazing as
well.
Yeah.
Thanks for
that.
I've got a
couple of
points actually,
you know,
starting with
the source
code.
So if
you think
about it,
all we
have is
the source
code.
So of
course, the
community is
great, but
the source
code is the
glue.
Now, if
we give
away the
glue, we
won't have a
bonded
community.
community.
So as
the president
of the
council, I
need to
make sure
that each
and every
person and
the interest
of that
person is
protected.
So we
decided not
to give the
source code
because it's
not safe.
And again,
you know,
we have
complete trust
in the
DEX team
that they're
going to
build some
amazing
products.
But it
was a
tough
situation.
anyways,
over the
next three
weeks, the
VM and
the consensus
mechanism and
the node
software will
be open
sourced.
So each
and every
person can
look at the
code if
they had
That will
happen over
the next
two weeks,
two to
three weeks.
Now, coming
to the DEX
side of
things, the
strategy that
we have
taken is
this.
In the
next six
months,
we have
four key
areas that
we focus
upon.
Active
transactions,
semi-active
users,
active
fees,
and semi-active
nodes.
So what I
mean by
this is,
in order
for us to
reach to
a place
where the
tokens or
the coin
is healthy,
and what I
mean by
healthy are
two things.
One is,
there is a
market demand
for it,
and the
second one
is, there
is an
intrinsic
demand for
this.
Focus is
going to be
very important
where the
foundation and
the core
focuses on
what we are
actually good
at, which
is building
technology.
And the
application side
of it, for
example, the
DeFi that you
see on L1X
app, the
identity that
you see on
the account
section.
Now, the
strategy that we
are taking is
we are going to
carve out these
features and give
it to a team
that is, you
know, born
for this.
So, for
example, all
you see in
there, which
is the swap,
the stake, and
the balancer
pool, these
are technologies
like the
balancer pool,
which is not
available anywhere.
A multi-chain
balancer pool
doesn't exist
except on
L1Xapp.com.
So, the
push there has
to come from
a team that
focuses on that
specific problem,
right?
So, we are
going to carve
these things out
and with the
likes of
OmChain that
has partnered
with us and
has, you
know, agreement
with the
government or
the municipality
of Istanbul
with 15
million people.
When they carve
out the identity
and run with
it, I think
that's what we
need.
In the coming
week, you
know, if, by
the way I'm
going, I hope
I'm still alive,
but in the
coming week, the
node hosting
AMA will be
done and we
have the contact
details of each
and every person
who have bought
the node.
If not, we'll
find a way where
you can sign in
with the wallet
and you can
attend.
So, we are
planning an
AMA for all
the people who
have the ELN
and the FVN
nodes, NFT,
and we have
the list as
well who can
start hosting.
So, by the
end of next
week, after
the AMA, we'll
release the
requirements
document, we'll
release the
instruction
document, and
I'll also go
through the
process in
terms of how
you need to
host the
node, step
by step, so
you don't
miss anything.
It's pretty
straightforward, but
usually steps
are what we
miss.
But anyways,
now, what
about the,
okay, centralized
exchanges are
being integrated,
great, DEXs are
being integrated,
great, the
coin is going
to be tradable,
great, but
what about the
adoption, right?
the target that
we have for the
next six months
is to, and
now I'm being
very, you
know, conservative,
I think it's
good to be
conservative in
these kind of
numbers, the
target that we
have for the
next six to
12 months is
getting one
million active
users, one
million active
users, around
20 active
projects, one
million active
users and 20
active projects
will give us
transactions that
are close to
around three to
four billion in
that particular
annual run
rate.
So, and how
are we going to
do this?
So what we
have done is we
have created a
strategy of an
ecosystem pool that
is going to be
opened up for
three different
types of people,
users, projects
and developers.
now, what
will happen in
this case is
based on
quantitative and
qualitative metrics
such as the
transaction volume
and frequency,
the DAP
engagement, the
validator and
staking support,
your contribution
in terms of how
much stable are
you in terms of
growing the
protocol, your
community
engagement, every
time or every
month, this
ecosystem pool will
emit certain
coins based on
a score.
So if a project
wants to build
with us or if a
user is using the
project that has
been built with
us, they create
loyalty.
So this loyalty
points, I consider
these as loyalty
points, will be
given out to
users and I have
pledged 50 million
coins of my own
allocation out of
the 90 million I
have towards this
ecosystem pool.
that is more than
half of what I
have and this
will be given
away for the
next two to
three years and
the reason we
want to do that
is for onboarding
the projects with
us initially, we
are going to have
three levels of
allocation, early
adopters, the
second one is the
base and the
third one is the
performance.
the first five
projects that, you
know, once the
SDK, I'll come to
the SDK, but once
the SDK is out and
the first five
projects that build
and launch the
product, just
launch, build and
launch, they get a
certain part of the
early adopter pool.
Once they get X
number of users,
they reach the
base where after
that you're going to
get a certain part
regardless of the
active user's
capacity.
if the user is
semi-active, you
still get a base.
And then there is
performance-based.
The idea over here
is to use these
ecosystem pool to
create 20 different
applications, 1
million active users
and 4 to 5
billion transactions
in the next 6 to
12 months.
That's the focus.
So every month
there will be a
cumulative way of
how we release these
coins in the market
out of my own pool
because even my
coins are locked
for 24 months or
30 months.
I don't even know
and I don't even
care.
But based on that,
half of whatever I
get allocated in that
month goes towards
the ecosystem pool
and we also have a
developer pool out of
which this will be
allocated.
Now, why will a
developer come and
build?
Okay, let's say the
users are there, the
projects are there.
By just launching with
us, the idea is we
are offering a gas-free
solution for projects
wanting to integrate
that are already
building with layer
zero or XLR network.
But why will
developers build?
Why will a single
hand developer go and
do something?
Two reasons for that.
One is we are opening
up the improvement
proposals mechanism in
the developer portal
with the SDK.
So if you want to
work as a freelancer
and you can go and
look at the source
code, you can give
suggestions, I think we
should improvise this.
If the foundation
accepts, you get a
part of the developer
pool.
And number two is if
a developer builds a
smart contract
template as an
improvement proposal
and that gets
adopted by the
foundation and then
the application, 20%
of the transaction fee
of that particular
smart contract goes to
that developer until
the kingdom comes.
So again, as I
said, the SDK that
we are building is
directly in sync with
what you will see
with Solana, Nier,
you know, all these
other protocols.
And the reason we
have taken that route
is because we use
Rust, we use EVM.
These developers are
already used to a
certain procedure and
people don't like
change, right?
People don't like
change even if it is
rewarding at times.
So this is why we
have redone our
developer SDK tools to
be in sync with the
other protocols, making
it, you know, one-to-one
in terms of how a
developer can come and
build with us.
And it will be a part
of the developer portal.
So the goal is 20
active applications.
And yeah, sure.
I mean, there are many
200 applications, 300
applications.
Why are we not going
after that?
There are 200
applications in other
protocols for sure.
But out of that, there
are only five active.
So, you know, I'm
happy to be corrected
here, but there are
only five or 10
active at the max.
20 great active
applications with 1
million active users
and 4 to 5 billion
transactions in 6 to
12 months gives us
enough fuel for the
next 12 months after
that.
So this is a stage
wise building of the
health of the token
application and the
ecosystem pool that's
going to push the
developers, the
applications, and the
users to come and
build with us is done
in a way that there is
an adoption of one to
two applications every
month, you know, for
the next 6 to 12
months.
Yeah.
Is everyone else
speechless or?
I might just give a
little bit of an
overview.
Last night I jumped
onto a call with a
project that's based out
of the US and they're
building an app.
I had seven people turn
up on the call.
It was quite an
exciting call.
And they, by the end
of it, they were
jumping.
And this particular
solution does everything
from cloud services, AI
functionality, ERP,
document creation,
storage, video
conferencing, aggregation
of social media, all
sorts of capabilities.
And when they heard
about our wallet, they
just simply had to be
involved.
So as well for that,
we've got a mutual NDA
going in place today and
a header agreement in
place.
So they're actually
promoting out their
solution, which is to
bring off-chain
companies onto
blockchain.
And they're
currently working and
talking through with
some pretty large
billion-dollar companies
to launch their own
tokens and reward
systems.
And interestingly,
when we talk about
reward systems,
Kevin has developed
previously reward-based
solutions.
So all the stuff that
Kevin's worked on
around POS, point of
sale and reward
systems, it's all
starting to come
together within L1X.
Yeah, I just hope I
have enough strength
to last that long and
I'm just so exhausted.
Totally.
But I think the key
there is the work that
Kevin and the team are
doing at the moment on
our self-onboarding
documents.
That's where it's going
to come into its own
where these projects,
instead of us sitting
there trying to have to
build out the first few,
but to move on to
enabling them to
self-onboard,
the full SDE,
the software development
environment is available
and building out the rest
of the documentation
around that, I think
it's been a fantastic
effort that Kevin and
the team have been
doing.
Yeah, and again,
I think just to
clarify, right,
this ecosystem pool
that I'm talking about
out of which half of
that will be,
can someone please
stop typing?
I can,
it's distracting me.
Yeah.
So this ecosystem pool
that I'm talking about,
half of which will be
done from my allocation,
is for the users,
is for projects,
is for the developers.
Now the users are also
KOLs or referrals in there.
So it's,
and the way this is going
to be dispersed is
the target,
as I mentioned,
three to four billion
transactions,
20 active application
and one million active
users.
These numbers will,
the dispersal of those
numbers will be directly
correlated to the
performance of these
numbers in the protocol.
So it lasts for that
long.
So you're not going to
exhaust it in six months
and see no growth.
The only time the
numbers go out is when
there are transactions,
when there are users,
you know,
trying to,
trying to push through
genuine or,
you know,
real transactions.
I'll probably add to that
as well,
like I just,
in terms of the,
the adoption and the,
the building out of the
ecosystem,
I think,
Kevin and the team have
done a great job in terms
of building like the,
the first use case
applications.
just remember that,
like,
Kevin and the team are
building a blockchain at
the same time,
you know,
they're building a protocol.
So the fact that they've
been able to take time,
build out the,
the swaps,
the multi-chain balance
support,
the single staking,
everything else that's on
the app that you can do
with the username,
the identity,
this,
the,
the CMS system,
all of those things
have been built to show
use case,
right?
And so though that
infrastructure is there
now and,
and has been built there.
And so we're looking now
to work with our partners
to then take over the
application side of it.
So Kevin mentioned before
on chain,
we'll work with them to,
to really work with them
to own the identity part
of it.
And there's key players
there that will get to
own each of these,
these,
these infrastructure so they
can continue to build
out the application and
the dev team can focus
on the,
on the core protocol
and any,
any additional,
you know,
add-ons to the core
protocol,
whether it's connecting
out the chains or,
or so on and so forth.
Yeah.
And,
and just,
just to,
on that,
you know,
on the Elvenix app side,
there are two,
you know,
updates coming in this
month.
The first is,
there will be an FT
and NFT builder.
So if you wanted to
build a meme coin,
you wanted to build
your own token,
you will be able to
do it straight from a
graphical user interface.
You put in the name,
you put in the maximum
supply and you create
your token.
And I think that one
is important because
you would be able to
create Elvenix VM or
EVM based token and,
you know,
allow this for
influencers,
small businesses,
everyday people to go
and,
you know,
take a punt at certain
things that they would
like to take increasing
the number of users
coming in to do this,
like a multi-chain
token concept.
Again,
directed towards the
goal of increasing
users,
increasing transactions
on the network.
And the second one is
we are making the
swaps mobile view
compatible as well.
So the swaps and
the explorer will be
mobile view.
So the swaps have
increased 1100%
you know,
in over once we,
over the last two
weeks.
So having mobile view
can increase that at
least,
you know,
it's the mobile,
the number of people
on the phones coming
on Elvenix app is 40%
versus 60% on the
desktop,
according to the
analytics.
And we are missing out.
So let's say
there is a conversion
you know,
5% of,
you know,
people coming on the
website doing a swap.
So that's a good
conversion.
Now,
if that same thing is
done on the phone,
you would have like,
you know,
one-on-one increment
over there of the
number of transactions
on the network.
So these two things
will help push the
transactions as well.
Yeah,
I think let's move
on to the questions.
All right.
Let me just have a,
a check through the
comments.
If you do have any
questions,
you want to throw them
in the comments so that
we can get them addressed
while the team's here as
well,
by all means do that now
while I'm just checking
through.
Give me one sec.
I think one question
that I saw on one of
the socials was,
you know,
once if it takes months
for the,
for people to get to
70%.
Look,
we've set out a 70%
minimum threshold
for experts to go
through,
but we obviously do
not want that to take
too much time.
So we will,
we will need to,
we will assess that
if it's taking too
long for people to
get through,
even though we're
helping resolve and
do all those things,
that'll be something
that we will,
we will assess because
at the moment,
I look,
I'm kind of thinking
this is on how long
is a piece of string,
right?
in terms of getting
getting everyone through
to the 70% mark.
But I'm thinking,
look,
I would say ideally
it takes no more
than a week or two
to get these people
through,
ideally quicker.
And so we'll be doing
everything we can
and I know the dev team
is doing everything
they can to resolve
tickets or answer
or help and support
to get them as quick,
through as quickly
as possible.
We want this to be days
so we can do that.
If it takes any longer
than, say,
look,
a couple of weeks
that we're going to
have to make a call
on that.
If people are just
not even going on to it
to do the experts
vesting,
they haven't even
kind of raised a ticket
or they haven't
attached themselves
to the LNX app
to do that,
then we will have
to make a call.
We do not want this
to run on any longer
than it needs to.
Yeah,
because again,
the thing is this,
like,
I don't think
we can wait
for more than two
to three weeks
on this max.
So please
push the community
members to go
and finish it
as well as possible.
The other reason
for this is
the people
who have opted
for the nodes
will also
be responsible
where the people
can stake
their LNX coin
in the node
once they get it.
you know,
that's also important
to make sure
that the network
is protected
as 60 to 65%
is what the market
sees in terms
of where people
go and stake
onto the nodes.
So that's a number
we want as well.
Now,
if that does,
I mean,
if we release it
before that,
it will be much lower
because these coins
will already be minted
and they will not
be staked
with the nodes.
So that's that angle
as well.
That does not look good
from, you know,
a metrics perspective
for a layer one chain.
So we need to make sure
that at least 70%
people go through
in like one week
or two weeks,
Max.
Okay,
I've got a couple
of questions here.
So this way,
will the beginning
vesting day start
from April 2nd,
2024?
And I suppose
this has two spurts
to the question,
one being,
is the vesting delayed?
And then if it is delayed,
let's say it's delayed
five days,
for example,
will the people
be given
five days worth
of coins
at that point
or will the vesting
start from that point
as day one?
The vesting will start
at that point
from day one.
So basically,
because the whole aim
of getting people through
is to give them
a fair starting point.
And with only 35%
just updated today
of them through,
we've got 65%
of people
that haven't
haven't completed
the process
that we want
at least the majority
of people
to start
at an even playing field
so the vesting
all starts
for them together.
So basically,
what will happen
is when the vesting,
when we reach
this 70% milestone,
we're opening up
the vesting
for everyone
from day one.
It really doesn't
affect the private,
CE, term sheet,
those guys
that are opting
into experts,
really doesn't
affect them much
at all
because they have
a three-month cliff
anyway.
What we're looking
to do is making
sure that everyone
who has the opportunity
to have some tokens
vested from day one,
so that's public sale,
airdrops,
competition winners,
KOL programs,
all those people
have enough opportunity
to start on the start line
at the same time.
And so what we're doing
is we're allowing
for that to happen.
So vesting will start
with everybody
on the same day
and that will be
when we hit 70%.
But as we say,
we're going to have
to reassess that
if it's taking too long
for people to get through,
we will reassess this
because we don't want
it to go on
for too long.
But yeah,
the tokens are,
yeah, sorry.
Yeah, but the tokens
and the balances
are updated on the node
and it's irreversible.
So we have generated
those tokens.
Now,
no one can do anything
about it.
So yeah,
the TGE has happened.
Are the partner
project nodes
outside of the
800 allocation?
they are inside
the allocation,
but they have
got a grant
for the node.
So I just want
to be transparent.
But again,
I think,
you know,
one of the reasons
they also wanted
their own node
is because of
the scalability
aspect of things.
They wanted to see,
you know,
if we just host
our own node
and mass transactions
through that,
how does that perform
versus the other ones?
And a couple
of questions
around NFTs.
How much
is the fee
for creating
either fungible tokens
or non-fungible tokens?
Will the user
created tokens
be automatically
transferable
to any chains
that get added
to L1X?
And I'll go through
the next couple
after that.
Those two first.
Yeah.
So the fees
will be
0.0003
for those
kind of
token creation.
with regards
you know,
the tokens
that you create
and you want
to make it
multi-chain,
we have
a development
standard
integrated
in the SDK
which will
allow you
to select
what networks
you want
your tokens
to be deployed
and make
it multi-chain.
Yes.
So the FT
NFT builder
will be
a multi-chain
token builder.
Awesome.
And when
can we claim
various rewards
and when
do we start
at NFT
rewards?
rewards
for,
look,
I think
the KOLs,
the rewards,
the airdrop
winners,
their balances,
each and every
balances has been
updated.
But again,
these things
are sinking
across the nodes.
So probably
by Thursday
this week,
those people
should be able
to see
and they
won't be able
to go and
they don't need
to go and claim
It will directly
be allocated
to them
because they
don't get the
node NFTs
and now it's
not even
available.
So they don't
get the node
NFTs.
will begin
once the
vesting
starts.
I've got a
question about
the people
that previously
had reserved
nodes or
previously
vested to get
nodes in the
first version.
are they
still reserved
in that
allocation?
Are they
still able
if they
haven't
claimed
already,
are they
still able
to claim
what they
had reserved
previously?
We have
seen,
I mean,
there was a
condition where
we had
allowed them
to go
through,
but I
need to
check because
if there are
tickets opened
up where you
had allocated
the node,
we have a
record and
you wouldn't
be able to
do it.
We will
solve that
ticket for
you.
But from
the front
perspective
on the
node
opting
screen,
that check
was there.
And again,
I mentioned
previously as
well, don't
go and buy
five nodes.
A lot of
people went
and opted
in the
ELN.
The majority
of people
according to
the percentile
opted for
more than
three ELNs.
And that's
how nobody
is getting
But people
who have
reserved it,
they will
just open
a ticket
if you had
opted in
before and
you can't
do it right
now.
You should
be able to
go through,
but if you
can't,
just open
a ticket
and we'll
look at
record.
Also,
I'm not
seeing any
more
specifically
from the
Twitter
questions.
Unless,
Spark,
if you
didn't see
any in
there that
missing.
Yeah,
I think
one of
questions
I can
around
just
looking,
trying to
look on
all the
socials
here.
One of
questions I
can see
around,
so for
private
seed,
anyone
opting
into
experts
with
three
month
cliff,
does the
cliff
still
start
at the
beginning
April,
even if
vesting
for the
public
starts
later in
April?
Yeah,
I think
I can
take that
one.
that's
a good
question.
If you
went in
and,
you know,
vested
your coins,
the cliff
for you
starts from
that day.
if people
are waiting
and they
do it
later,
the cliff
for them
starts on
that specific
day,
if you know
what I mean.
it's not
going to be
a lot,
like a
two-week
difference
maximum,
but yeah,
so you
will get
your coins
before then.
Okay,
so say
if someone's
gone into
experts
already,
let's say
they've
already
gone into
private
seed,
and they've
already
gone in,
does then
their cliff
start from
2nd of
April?
That's right,
that's right.
Okay.
That's right,
that's right.
I think,
I mean,
even if the
other guys,
they've got to
skip a month,
right?
you've got to
skip a month
not to
consider your
cliff in
April,
you see,
because if
you don't
come in
April,
that means
if you do
it in
May,
your cliff
starts from
May.
anyone coming
in the month
of April,
their cliff
will start
from April.
Okay,
perfect.
And let's
say,
so is there
any difference,
and I think
this is where
the question
is going,
is there any
difference,
let's say,
those that have
been through
experts already
and opted
into experts,
let's say
someone comes
in on the
20th of
April,
opts into
experts,
like,
so at the
moment,
let's say 2nd
of April,
three months
from that
would be 2nd
of July,
they would
start their
visiting after
a three-month
cliff.
Let's say
someone comes
in on the
25th of
April,
would they
still start
on the
2nd of
July with
their cliff,
or would
they start
on the
25th of
July?
If you
come in
the month
of April,
the cliff
of April
applies,
meaning 2nd
of July,
everyone gets
If you
come in
the month
of May,
that will
be August.
Okay,
perfect,
and I
think that's
where probably
maybe a lot
of the
people that
are opting
into
experts,
it's good
to be
aware that
even though
the vesting
for the
public sale,
you know,
airdrops,
competition,
all those,
that vesting
will start
at the
70%,
once we
hit the
of those
people that
have completed
the process,
for seed,
private,
all the guys
that have
been in
the earlier
sales,
this doesn't
affect you
as long as
you opt
into
experts in
April.
If you opt
into experts
in April,
April is
still your
first cliff
month,
and your
vesting has
not been
altered at
all.
So I think
that's important
for people
to know.
It's only
that we
want to get
the guys
through that
due their
vesting on
day one.
So for
everyone else
who has
gone into
experts,
this has
not changed
for you.
You can
still go into
experts this
month if you
haven't been
through,
and your
vesting will
still start
on the
2nd of
July.
After the
three-month
stuff, of
course.
That's right,
because the
guys who
have already
vested,
when you
vested and
you signed
that particular
transaction,
that vesting
object,
that vesting
schedule was
sent to the
chain, and
it got
recorded.
And today
those coins
are updated
on V2
balances,
and the
distributor will
work accordingly.
And that's why
when you go and
see the schedule
of vesting as
well, if you
go next month
for vesting,
you're going to
see August as
your cliff ending.
Awesome.
So a question
about in-track
competition.
how many LNX
coins have
been allocated
to the
in-track
competition?
That's
Spock's
area.
Yeah, so
basically what
we've done is
we've allocated
across the
in-track
competition,
across the
airdrops that
we've done in
December and
January, and
across the
new airdrop
bonus campaign,
across all of
those three
campaigns, we
have allocated
5 million LNX
coins.
And I think
when we start
to issue out
on the airdrops,
I think you
want to be
pretty happy
with the amount
of coins
they'll be
earning.
Awesome.
And are
node rewards
for April
still the same,
just starting
not from the
first of every
month?
Does that
make sense?
Node rewards
for, sorry,
what was that?
The node
rewards for
April is still
the same, but
it's just not
starting from the
first of the
month.
So I imagine
if...
Yeah, yeah,
yeah, yeah,
that's right,
that's right.
The block
rewards, okay,
the block
rewards you've
been, all right,
yeah, of course.
I mean, end of
next week, when
you, when I do
that, you'll
start to host
your own nodes,
and the block
rewards will be
given to you for
that specific month
according to
the schedule
that's already
there in the
calculator.
And again,
you know,
congratulations to
everyone who got
the node NLP.
Yeah, it's
pretty quick.
Congrats for
that.
And one on
the balancer,
is the daily
1% balancer
rewards reopening
until the new
TGE date?
That's right.
That's right.
So you'll be
getting 1%
on that.
Yeah.
Awesome.
And then one
around the
hostings for
the node,
so the AMA
for the node
hosting.
Do we have
date, time?
I know we
sort of, we
touched on that.
Do we have
specifics around
that yet?
Yeah.
12th of this
month, 4pm
AWSD.
We'll send
through the
schedule as
well, but yeah,
that's the date.
Fantastic.
I don't see
any further
more there.
Yeah, so if
there are any
more, a minute
or two, just
to throw
anything in
that Twitter
chat, if
there's anything
we're missing,
by all means
throw it in
there.
I think in
if there's no
further, we can
start a wrap-up,
closing statements.
Who would like to
jump in first while
we wait for any
further ones?
Yeah, I can
jump in.
So basically, just
to kind of
reiterate, we've
had the, so the
updates, we've
got the updates on
the nodes, the
centralised
exchanges, the
decentralised
exchanges and
the vesting.
And so the
reason why we
want to hit the
70% threshold on
the vesting is
so the majority
of people have
access to their
coins at the
same time as
the majority of
everyone else,
meaning that when
day one of
vesting starts, the
majority of people
that are eligible
to receive the
vesting do so on
day one of that
vesting.
And so we've got
more because at
the moment, 65%
of people that
haven't been
through, if we
started the
vesting, they
would not be
ready to receive
the vesting.
So we just want
a fair playing
field.
So when people
get their coins,
they can stake
together, they
can trade, they
can transfer
together, they
can interact with
the smart
contracts and
applications on
the projects that
are on L1X, they
can do that all at
the same time and
no one's getting a
head start.
Well, at least the
majority of people
are getting it at
the same time and
there's not a core
group there getting a
head start on
everyone else.
But just to
reiterate, for the
guys that have
already opted into
experts, this
doesn't affect you
in terms of the
vesting date.
As long as you're
opting into
experts in April,
your first month
will be April
off-cliff.
And so your
vesting has not
changed in terms
of the day your
vesting starts.
It's only for the
guys that we want
to have fair playing
field for the guys
or the guys and
girls that are
eligible to receive
coins on day one
of vesting.
We want that to
start where the
majority of people
are already active.
So we've got a
couple more
questions come
through as well.
Just give me a
second.
When will the
L1X coin start
trading on the
L1X app swap or
do we need to
wait for DEXs?
Yeah, I think
when the
balancer opens up,
you'll be able to
swap and the
centralized exchanges
are also there.
So, and the
other guys, we're
working with them
to integrate it.
So sometime this
month.
How will the
first 80 active
nodes be chosen
from the sold
400?
Platinum and
first come first
serve.
So whoever has
been eligible for
the node opting
from the platinum
tier and who went
in there first
will be eligible
first.
Yeah, that's
I'll just add to
that as well.
So basically what
we've done there is
that those that have
gone into, so
basically it'll look
like this, the
first into platinum
and the last into
platinum, that is
the priority first.
So the first into
platinum and then
the last into
platinum.
Then the next
priority is the
first into gold and
the last into gold
that have unlocked
the node NFTs.
And then if
anyone in the
public sale went
into silver to
unlock a node NFT
first into silver
last into silver.
So it'll go in
that order.
Is there any way
to combine wallet
holdings by way of
username?
As an example,
we'd love to be able
to purchase another
node but have
enough tokens in
experts platinum
just spread over
several wallets.
Yeah, no, but it
wouldn't make any
sense right now as
well because you
can't opt in.
You can only either
top up or buy.
When can we expect
to see airdrops,
giveaways and comp
coins allocated to
wallets?
Thursday.
Just Thursday.
Awesome.
I think that's
mostly from what I
can see here.
What is the
in regard to
commissions for
what is the
recommended commissions
for stakers for
node holders?
Is there any
benefit of having
more people stake
on your node?
The market,
if you look at
the different
markets out
there in terms
of the 75th
percentile, it's
probably around
5 to 7.5%.
But again, if you
want to be
competitive,
initially, because
you'll be the
only guys with
the nodes, you
could probably
make it even
If I'm hosting
my own node, I
would go like
2%, 3%.
It doesn't really
matter for me as
long as many
people come and
do it because
it's more
about the
numbers than
the commission
for me.
It's because
your score also
builds on that,
right?
So you got to
look at the
node scoring
from the total
amount as well.
I think from
what I can see
that's most of
the questions.
Oh, one here.
What would make it
safer to open
source in three
weeks?
Yeah, I suppose
that's a really
good question.
Yeah, that's a
good question,
actually.
Yeah, so we've
got a protocol
roadmap that we'll
be giving out
as well.
So we have a
roadmap for three
different sections.
Now, the
conventional way
of open sourcing
the code usually
is you go out
with the block
structure, the
transaction structure,
and then you go
out with the
consensus, then you
go out with the
In our case,
we've already
audited the VM
and the consensus
has the scoring
model, the block
proposal, and it's
pretty important to
get this
transparently done.
So we will be
open sourcing it
because we still
know that the
node NFT owners,
their score,
so the projects
that we have and
the hosted nodes
already, their
score is always
going to be higher
than the ones
coming in, you
know, gradually.
So we know that
up to a certain
point in time, the
block proposers are
going to be X
block proposers
until the new
nodes come in,
they start building
their score up
according to the
code and then
take it from
there.
Now, if you
talk about any
loopholes in
there, of course,
now, because in
order for you to
actually even get,
I'm not talking
about, you know,
transaction spoofing
or payload spoofing,
I'm talking about
the, you know,
security of the
protocol, which is
if you look at
the entry point in
even proposing
something or state
changing calls that
if you may, those
can only be done by
block proposers who
we know are X
block proposers
initially until the
other ones come
through.
So I think I'm
actually excited to
open source the
code.
You know, I'm not
worried about it.
Question about the
first hundred people
to go through.
If you're a part of
the first hundred but
could not vest and
collect nodes until the
issues were fixed, for
example, today, does
that mean you are not
in first come, first
serve and how would
that affect your
position?
Whoa.
I think we have
solved almost all the
tickets over there.
But if there are any
tickets remaining, we
already have the
log and I promised you
guys that these guys
will be getting their
nodes, so they will
be getting their
nodes.
The first hundred
people.
Yeah.
Cool.
Yeah.
So if they get lost,
I suppose, in all the
addresses there, do
they need to open a
ticket to confirm that
or something like
that?
Yeah.
Yeah.
So if you just put in
first hundred in the
description, but I'm
pretty sure that we
have cleared out almost
all of them, but if
there are any opened
up, we'll have a look
and we'll allocate you
the node.
And again, you know,
sometimes it can take
a little while to do
these things because
again, this is an
application thing.
We are a core
development company.
But again, thanks for
your patience.
I think this is mostly
the last one.
When can we claim one
for one username bonus?
Upon investing.
Yeah.
That's a good one.
I forgot to mention
that upon investing.
Awesome.
I think that's, that's
mostly the comments I
can see from there.
So we had Sparks
closing statement about
a half hour ago.
So who wants to go
next?
Got the note of
Mike.
Yeah, I can definitely
question out on
Discord regarding
some of the
holdups with
the CXs.
So just to kind of
give you guys a little
bit more transparency
on that, you know,
you've got to
understand that as
Kevin has mentioned
before, this is like
what the balancer
pool, that's the first
ever multi-chain
balancer pool, right?
So if you think
about this
with all the
different chains out
there, this is
something new for
even these CXs to
kind of work
through.
And so for them,
they're having to
adapt a little bit
more than probably
normal when
implementing in
some of their
listings.
And so as a
result of that,
it's just been a
little bit more
steps in the
process, nothing
to worry about.
You know, like I
mentioned before, we
are definitely on
those last little
legs with Mexi and
Bitmark.
But, you know, so
we'll definitely keep
you in the loop.
We will announce
things as soon as we
are okay to announce
things.
Likewise, when we
get new listings,
opportunities with
new CEXs or even
DEXs, we'll make
those announcements
when the
agreements are in
place.
But, yeah.
So, in other
news, you know, I
feel like we
should implement
the buddy system
so that we can
make sure that
everybody is
helping each
other, make
sure that they've
gone through the
XPERX program.
I know that there's
been a couple of
comments in various
communities, you
know, as long as
they can type of
thing, which you're
only hurting by not
getting into going
through the XPERX
program.
So, definitely,
definitely get in
there and,
yeah, we lost
crypto or not.
I think everyone's
being muted.
Yeah, I don't
know why that's
happening.
Classic X
spaces.
Unmute yourself,
crypto nought.
You're still
muted, crypto nought.
Lost him.
Do you want to
pass the chief?
I see we've lost
Kevin as well.
Chief, can you
still hear me?
Sparky, can you
still hear me?
Yep.
I can still
hear you.
All right.
Let's pass to
chief while we see
if these guys get
back connected.
We'll pass over.
Okay.
And look, just
to add a little
bit more to what
Krypton all was
saying about the
exchanges, with
the number of
ongoing
conversations with
these CXs and
the DEXs as
well, do you
to be perfectly
honest.
It's been
quite, it's
been pretty
full on.
There's a lot
of them that
turn around and
this is pretty
standard that they
turn around and
say, oh, yes,
we'll wait till
after you launch.
We've got tier
ones that we're in
discussion with at
the moment.
We've been
recommended across
to them and
been introduced and
that actually pushes
us up the list.
It does take a lot
of effort.
Now, we're already
quite unique and
Krypton all was
actually touching on
it, that the
integration that is
required for a
layer one differs
very, very much
from a layer two
project that's just
simply listing their
tokens.
And I'll bring back
the analogy to it,
really a railroad.
We're the railroad
that is actually
uniting all
blockchains.
Now, when you look
at a layer two,
they're almost like a
factory in a town,
nothing major.
Other blockchains
could actually be a
town themselves, so
they're all quite
isolated, but we're
not.
We're actually the
infrastructure that is
uniting them all, so
we've built that
entire railroad, so
there's still a little
bit of work to
finish it off to make
sure that those CXs
and the DEXs understand
exactly how they need
to interact with
layer one X and how
we interact with them.
And so, for example,
Kevin and the team
have actually been
providing specific
nodes across to the
CXs to enable them
to transact
safely and securely.
Awesome.
I see we haven't
got Kevin or
CryptoNort back.
They may be having
technical issues.
As sometimes
happens, it's
something I've been
talking with CryptoNort
about for the last
week, the amount of
spaces he's been in
that just stopped
working.
So maybe we're at
that point.
Totally agree.
I've seen all
sorts of problems
on X, just
jumping in and
out.
It's been pretty
flaky, to be
honest.
I think X really
need to sort their
stuff out.
Yeah.
If you can't talk
about them on
here, that's how
we get rubbed.
But yeah, so I
suppose we'll just
look to close this
out then if the
guys aren't back
here.
Spark, anything
further from you
before I wrap that
Yeah, yeah.
So basically, we'll
keep the community
updated as the
percentages increase.
So we'll give
regular updates
probably every two
or three days with
the updates on the
percentage to try and
get them through as
soon as possible.
If anyone listening
hasn't been through,
please go through.
We want to get this
done as quickly as
possible so we can get
that 70% mark.
And we'll be
updating communities
so they can see
that as the
percentage grows.
So they can see
we're getting
closer and closer.
Awesome.
Well, I'll look to
close this out.
And I just will use
one thing to
reiterate.
You know, it's
part of the journey
and I put this in
the community before.
But it really is
when developing any
new product or
developing any
blockchain, anything
that is an
unknown, right?
It's like imagine
you're sitting in a
car park and you're
looking at the top
of a mountain and
you think, okay, I
want to climb that
mountain.
And you've got a
certain distance of
the crow flies, which
let's say it's 10
k's.
We could say that we
walk at 5 k's an
hour and it's going to
take us two hours to
get there.
But I don't know if any
of you have ever
climbed mountains
before.
That is not how the
journey goes at all.
Yes, it may only be
10 k's away.
And yes, in theory, it
will take us two
hours.
But there's a lot of
roadblocks.
There's a lot of, you
know, circumnavigating
the mountain to get to
the top.
It's not just as the
crow flies from A to
And you can't know how
long it's going to
take until you're on
that journey.
And I think that's
part of it.
You know, we come
across things that we
have to overcome and
things that we have to
continue building, but
know that we're still
on the journey.
We've still got plenty
of resources around the
way to the top and that
the summit is
inevitable.
So that's where we're
We're so close to
summiting.
We're just coming
around the last
bends to be able to
stand on the pinnacle.
But things are coming
and we're moving
forward.
Obviously, as a
community, we
appreciate having you
guys here, the
community, obviously
supporting the project
and continuing to
support us through
these next steps or
the final steps to
launch in proper in
terms of getting
the vesting out and
everything like that.
But knowing that
also 2424 is still
the day, all the
technical side is
still live and ready
to go.
So that opens up a
great deal of
possibilities for what
our forward movements
are.
to continue from
this point as well.
So once again,
thanks everybody for
tuning in.
We'll keep you updated
in the community with
how things are going
and progressing along
the lines for
people's festings and
their opt-ins and
we'll give you updates
as soon as possible.
Thanks again,
everybody, and we'll
see you very soon.
Thank you,
everybody.
See you.
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