September has shaped up as a constructive month for CRC and the Elastos community. API Services are covered in Proposal 44 in order to boost the stability and security of the Elastos Side Chain (a technical review will be provided for the proposal). Updates on Proposals 50 and 56 on the Elabox Launch and Sponsoring the Web 3 Conference have come to light. Proposal 58 and 60 are based on increasing the accessibility of the Elastos Side Chain and bootstrapping liquidity for the new DEX, Glide Finance.
Proposal 59 involves a MMORPG (Massively multi-player online role playing game) called MoonBoy that wants to bridge it’s game to the Elastos Side Chain. Suggestion 116 is about Elation Studios’ new Marketing Proposal for Elastos. And after all this, Mark Xing has started to pursue a new idea to bring 3 million MeshOS devices, containing Elastos technology, into households across China.
Topics making waves in our community
BTC Mining Pools
One of Elastos’ biggest selling points is the hash power it possesses from merge mining with the Bitcoin network. Elastos has been promoting its merge mining mechanism through tweets like this. Bitcoin miners don’t need to use any additional energy or hash power in order to merge mine ELA. As Elastos becomes one of the leaders in Web 3.0 and DID, these ELA coins, merged mined by Bitcoin miners, will be very valuable in the future.
CRC is very fortunate to have a member, Brittany Kaiser, who has many relationships with Bitcoin miners. Ms. Kaiser spoke at a Digital Mining Conference on September 8th and helped promote Elastos merge mining. Donald Bullers joined long-time Bitcoin advocate Charlie Shrem on his “Untold Stories” podcast and spoke on merge mining amongst other interesting Elastos and CR topics.
3 Million Household Node Project
Mark Xing, one of the 12 CRC Council members, conducted an AMA on WeChat amongst the Chinese community. Xing is excited to open discussions to expand the node base of Elastos in China to over 3 million households. The goal is to get Elastos nodes/dApps into many small devices to increase the accessibility of the technology. Xing pledges to closely integrate his company’s capital and technology within the Elastos ecosystem.
The ultimate goal is to empower users with their own data. MeshOS allows users to collect their own data and store them on personal devices. The unique device tokenizes multiple resources on devices, networks and storage for the user. Decentralized applications and machine learning AI are other capabilities of the MeshOS device.
Proposal 44 and API Services
Proposal 44 was crafted in order to provide support for API Services. The Secretariat had a follow up meeting concerning this proposal. The current maintenance procedure is to regularly restart the server and swiftly fix patches. The process of collecting user feedback and questions is another priority. The three main areas that need to be monitored are the API Services, Servers and Nodes. The Nodes are run by Bo Cheng, and API Services and Servers are Amazon Web Services issues.
It has been suggested by Technical Advisor, Green, that a collection of people run the nodes instead of one person (as it currently stands). Our other Technical Advisor, KP, said that the API Services for the ESC, mainchain and EID is acceptable for developers to build dApps. In order for them to be efficient they need to have a high availability which is defined in the proposal. However, KP explicitly explained that these API Services must not be used for dApps that involve large capital transactions.
The basis of the proposal is to easily onboard developers that can build dApps on ESC with readily available API services. However, in the event that finance based dApps come into the fold, it’s recommended that more robust API services are available to support them in the future.
After Proposal 44 was successfully implemented in June, and provided API Services as expected, the funding for June through August was approved by the Secretariat. A renewed suggestion (Suggestion 121), about the API services, has just been submitted on the CR website. This new suggestion has incorporated all the recommendations from the technical advisor.
Proposal 50 – Elabox Launch
The Elabox team is preparing for their launch in Q4. Their proposal, which was passed by CRC a few months ago, is coming along swimmingly. The community contest produced three winners who will have Elaboxes sent to them forthwith. The team has ordered Raspberry Pi 8GB RAM boards in preparation for the launch.
Due to difficulties sourcing Raspberry Pi 8 GB devices, the shipping date for the Elaboxes is estimated to be in late October/early November. Elastos DID, Feeds and Elastos Side Chain (ESC) are all fully tested on the Elabox. BTC, ETH and USDT are now new payment options on the Elabox store. Niknil, a long-time Elastos content provider and supporter, won the anniversary competition run by Elastos Info. See his winning entry here. Another community member won an Elabox for questions raised during the 4th anniversary AMA.
Proposal 56 – Web 3 Conference Sponsorship
Sash (Elastos Orchard) has arranged a sponsorship contract at the Tech Circus Web 3 Conference based on this proposal. This partnership agreement includes multiple keynote speaker slots, headline visibility, a global marketing campaign, and a huge social media push in all the major outlets (inc. LinkedIn, Facebook and Twitter). The Web3 Conference website will go live next week and a number of speakers have been confirmed (to be announced shortly).
Tech Circus is a venue which hosts many sophisticated events in Tech. The Web 3 Conference at Tech Circus will be a great opportunity to give Elastos exposure to many powerful thought-leaders in the space. The contract crafted by Elastos Orchard ensures that Elastos secures a foothold in the event and stands out amongst its peers.
Proposal 58 and 60 – Bootstrapping Liquidity on ESC and Glide Finance
Ryan from Starfish Labs added a proposal to give the Elastos Side Chain(ESC) a shot in the arm in terms of activity and liquidity. Glide Finance is pursuing the position of a powerful DEX on ESC, and will need liquidity to boost initial barriers to activity during the early days of deployment.
The main area of focus is to allow DeFi users on all blockchains to easily migrate onto ESC. Bridge fees are very expensive in a lot of scenarios, so subsidizing gas for new users is a part of the proposal in order to bypass financial issues for transactions. Another aspect is funding a faucet for ELA in order to provide new users enough gas to perform initial transactions on ESC. Lastly, Glide Finance is requesting CRC to bootstrap liquidity in order to bolster activity and excitement for the launch.
Proposal #58 has recently been rejected. The Strawberry Council posted a non-unanimous “no” vote based on spending ELA from the Treasury into the Glide Liquidity Pool. Based on Impermanent Loss concerns, and the dynamics of the GLIDE token, the Strawberry Council believe it’s not in the best interests of the CR Treasury to spend funds in such a fashion. Sunny Feng Han, Donald Bullers, Orchard Trinity and Elation Studios all accepted the Proposal as an effort to boost growth of the ESC and give Glide Finance the tools necessary to hit the ground running. Proposal 60 is a revised version of this proposal to address some of the Council members’ concerns as outlined in their chained responses here and Ryan hopes his amended proposal will assuage the concerns raised.
Proposal 59 – MoonBoy Game Migration to Elastos
MoonBoy is an exciting new NFT based play-to-earn game that would like to migrate onto the Elastos Side Chain(ESC) from Binance Smart Chain(BSC). Proposal 59 details the goals of the MoonBoy team. Funds will be needed in order to execute the migration from BSC to ESC. Funds from the proposal will be distributed to the Gaming developers, advertising budget and cross-chain implementation.
Ultimately MoonBoy wants to increase the utility of the ELA coin and have it used in-game for daily transactions between gamers and the ecosystem. The game wants to fully invest in Elastos’ proprietary industry leading DID in order to have ultra secure registration for players. The MoonBoy game project has aspirations to onboard millions of users which would clearly be incredible for the growth of the Elastos ecosystem.
Suggestions on CR
Suggestion 111 Elation Studios Marketing Proposal
Elation Studios crafted an exciting suggestion back in August. The team wanted to send an RFP (Request for Proposal) seeking professional marketing services for the Elastos brand. Elastos and Cyber Republic are looking to be leaders in the Web 3.0 space. Bringing in professional marketing services could boost Elastos’ brand awareness and garner more participants in the space.
The team has been very busy with the Marketing RFP. They’ve been answering hundreds of questions from several agencies. The questioning phase has officially closed and they have now entered the submission phase. Important deadlines moving forward concerning the RFP are:
- October 1st- Proposals Due
- October 22nd- Review/Notify Shortlisted Firms/Interviews
- November 12th- Notice of Selection
- November 26th- Contract Execution
September has been a month that has seen ideas emerge from various individuals and teams that are designed to directly drive the Elastos vision forwards by providing opportunities for DeFi, Gaming, Dapp development, Education and node infrastructure services in the Elastos ecosystem.
Please follow us on Twitter for further information, and visit the website to read the suggestions and proposals in full. The CRC will continue to monitor and analyze new and exciting initiatives in order to further the Elastos project to new heights.
CR Council Budget Balance
The current funds available currently stand at 1,418,578 ELA as of 9/30/2021.