Cyber Republic and Elastos welcomed the Gregorian New Year with a host of new updates from prior proposals, as well as new proposals passed in January. Cyber Republic has worked hard implementing ideal processes in order to establish a society of trust, security and freedom. Marketing has been a key area in which the CRC has passed multiple proposals securing Elastos’ place in the Crypto and Web 3.0 space. The Web 3.0 Conference was one event with which Elastos has shown dynamism by sponsoring and marketing an opportunity to share the Web3.0 narrative. Development in dApps is ramping up between Feeds, Silver Starter, Glide Finance and much more.
The Elastos Smart Chain (ESC) is also being worked on in order to separate itself as one of the best layer 2 solutions in the DeFi space. Establishing CR as an official LLC and DAO creates stability for long term business practices and investment strategies. Adjustments have been made to the Elastos consensus mechanism with a new staking model proposal passing that will improve the decentralization, security and fairness of the process. Enjoy the updates from all these active proposals and learn more about all the exciting endeavors CRC are involved with.
Proposals in the public spotlight
Proposal #50- Elabox Launch Initiative
Elabox is the one-stop-shop solution to access all your Elastos dApps and wallet in one hardware device. The Raspberry Pi-based device provides users with super security along with access to multiple functions and programs within the Elastos ecosystem. The Elabox team just came out with an update on their Medium page. Elabox has received word from their supplier that another 60 boards will be shipped to complete the first 108 Elabox orders. The team is in contact with other suppliers in order to open up further opportunity for the community to buy more Elaboxes. The estimated date the Elabox store will re-open would most likely be the later end of February.
Voters have received rewards from both of the Elabox Supernodes in the past months. There will be an Elabox software update in February including a fix for ESC and EID deployments. The update will also include some UI and security enhancements. Two Elaboxes were given to the Elastos Info team as prizes during the Web 3 Conference, the next proposal on the docket.
Proposal #56- Elastos to lead and sponsor Web 3 Conference 2021
Tech Circus hosted the Web 3 Conference in London, England. Elastos had a large presence at the event with high-level Sponsorship and Headline privileges. Proposal 56 allowed CRC to purchase a Platinum level package to be one of the main focuses of the entire event.
Donald Bullers kicked off the conference by conducting an interview with the Elastos founder, Rong Chen. They discussed the history of Rong’s journey towards creating a true Web3 environment for all users.
Kiran Pachhai was one of the main speakers at the event and presented Elastos and its ecosystem with this presentation. The focus was to present an overview of the Web 3 Identity and Crypto Wallet functionality of Elastos Essentials Wallet/dApp. Also featured in the presentation was information on the dApp browser and showing off the solid UX/UI.
Some attendance and demographical statistics were gathered during the event, and read as follows:
- The Elastos booth was the most popular at the event – 948 visits. Furthermore, 217 visitors registered their data to show interest in being contacted
- 4583 people attended the event in total
- The top 10 Job Roles of attendees were (in order) – CEO, Developer, Engineer, IT, Software Engineer, Manager, Founder, Designer, UX Designer and Student
- The top 10 Countries in attendance were (in order): US, France, UK, Germany, Tunisia, Vietnam, Russia, India, Canada and Netherlands
Proposal #57 Asset backed stablecoins coming to Elastos
Stablecoin projects have become akin to the lifeblood of burgeoning De-Fi projects. Elastos Orchard facilitated a proposal to partner with an accredited stablecoin provider: e-Money. e-Money, who are audited by Ernst & Young to verify proof of funds, have suggested they can provide a bridge from their dedicated Cosmos Blockchain to ESC.
However, there are still some more details to be ironed out in order to fully get the process rolling. Since this proposal was passed in August, there has not been any progress made towards building the bridge to the e-Money blockchain. Orchard have continued to spearhead efforts coordinating with e-Money to get a stablecoin backed token on ESC. The Secretariat is expecting a detailed brief on the status of this proposal and looking forward to seeing tangible deliverables in the near future.
Proposal #64 CR Grant Program
Shijun Song, one of the biggest contributors for the entire Elastos ecosystem, helped devise a healthy proposal to fund proposals not passed through CRC. The idea was to give the community more of a voice and take proposals seriously if they have significant popularity and demand.
Shijun Song has provided an update on the CR Grant Program. The initiative is now called ELAB. Documentation can be found at https://docs.e-lab.io/. Currently the development of ELAB is being funded by Trinity Tech in efforts to experiment and build upon the DID technology. ELAB is currently being developed by Benjamin Piette, Shijun Song and a few community members. The public start of ELAB will be February 15th. ELAB will be able to run inside the Essentials Wallet via the browser. The Elastos Guardians will also be integral to the running and management of the ELAB project, up to and following its official launch.
Proposal #65-66 Contract Tier 1 Marketing Agency, TLGG Omnicon to Create and Execute a 12-month Marketing and Communication Strategy
Elation Studios came out with a couple of proposals to start a 12-month Marketing and Communication strategy in order to bolster the visibility of Elastos and Cyber Republic. Creation and Execution of the marketing strategy are two of the four main goals of the proposal. This initiative will also contribute to looking into exchange listings based in the United States of America. The last goal of the proposal is to get the 7-day running average price of ELA to $10 or more by March 31, 2022.
TLGG Omnican, the Marketing Agency hired to execute the proposal, has helped greatly towards the Web 3.0 Tech Circus event. They will be completing the Marketing strategy by the end of the month of January and will move into execution mode in February.
Proposal #67- Proposal to Develop a Dedicated Pasar Web App
NFTs exploded onto the scene in 2020 and especially in 2021. Pasar on the Elastos Feeds dApp has been widely popular amongst the Elastos community. Proposal 67 was passed to develop more functionality to Pasar. One of the goals is to have Pasar at the fingertips of mobile users through Feeds. Ultimately the goal is to have Pasar be the de-facto NFT marketplace on Elastos Side Chain.
Technical Advisor and Trinity Tech member, KP Woods, completed a technical review of the new Pasar project. The first milestone of the proposal was to start development of the Pasar explorer with features tracking transaction details, provenance, trade volume, charts and more. All the tasks given in the proposal and the Phase 1 milestones are completed.
https://pasarprotocol.io/explorer is the explorer that was created to allow users to browse through different NFTs on the marketplace and track ownership history. KP concluded that all the tasks have been completed and Phase 2 of the Proposal can begin. This phase will consist of creating an NFT marketplace that can mint and trade NFTs.
Proposal #68- Funds for Strategic Marketing: Influencer Relationships and Social Media Campaigns
Another proposal was passed in late November 2021 regarding Strategic Marketing of Influencer Campaigns. Specifically, Elastos Info wanted to get into a month-long marketing push with Crypto Finally and a 10-20 minute video produced by Voskcoin.
Elastos Info team has been constructing the document outlining all the topics that should be covered by Voskcoin. These topics include basic information about Elastos’ Core Tech, Elastos Info, Discord, The DAO Cyber Republic, dApps and Demos and an Infographic of Facts.
The payment to Voskcoin was officially completed in January. The Voskcoin team will seek to complete the 10-20 minute video in 3 weeks time. Crypto Finally gave her 180,000+ follower audience more exposure to the Elastos ecosystem with tweets like this.
Proposal #69- Introducing Silver Starter – Project Launchpad on the Elastos Side Chain
The Silverstarter proposal was created in efforts to help jump start new projects being built on the Elastos Smart Chain. Initially the Silver team, consisting of Cameron Tareen and Tao JuanJuan, launched their Silver project on Elastos Smart Chain. They realized that the chain needed an entity which gave projects and the community transparency, verification and enhanced convenience for launching new dApps. Bi-Monthly meetings have been conducted and the team aspires to have its launchpad compared to those in the top 5 in the space.
Silverstarter came out with a full Progress Report in late January. The team initiated work on the SIlverStarter contracts shortly after its proposal passed on December 22, 2022. The Lead Dev and the Dev team have met multiple times over the past 4 weeks. Contracts have been deployed on esc-testnet in efforts to deploy a test token, add liquidity, incorporate LP tokens and mining rewards, staking and call multiple contracts simultaneously. All of the contracts have been fully uploaded, verified and fully tested.
The Lead Dev has run into some concerns connecting the contracts to WETH, because it was on test net. However the team is confident that the contracts will get to WETH because it has a dedicated contract on Main Net. The next steps of the process is deploying all the contracts onto Mainnet, connecting contracts to UI and creating a unique Silverstarter themed UI.
Proposal #70-72- Contract GSR to perform Market Making Services for Elastos
Elation Studios contributed their efforts once again with a proposal dedicated to getting a professional Market Making firm to help boost the value of the ELA token. The proposal covers a 24-month contract in which GSR, the market-making firm, is to perform numerous tasks such as providing liquidity, covering exchange fees and other market-making responsibilities.
As of January 2022, all the necessary paperwork has been completed and submitted to GSR. KYC decks need to be completed and then the 24-month market-making process will begin.
Proposal #73 – Cyber Republic Operations LLC Operating Agreement
Cyber Republic took the paramount step of becoming an official LLC in the state of Delaware, U.S.A. The final step of the LLC process was to file an Operating Agreement which was in Proposal 73. CRC is pleased to announce that the purpose of this proposal is done and fully completed. Cyber Republic is now an official LLC and registered DAO.
Proposal #74- Elastos DPoS 2.0- A New Staking Model
Yipeng Su, former CRC member, devised a brand new staking model for Elastos in Proposal 74. While very complex in nature, the proposal is simply trying to provide more fairness, security and a more ideal consensus with the new staking model he devised.
So far there’s been a lot of developments towards the new staking model. A transition plan has been realized in order to switch from DPoS1.0 consensus to DPoS2.0 consensus. There are a multitude of functionalities that the team is currently working on:
- Nodes can be all randomly elected from 12 Council nodes and DPoS2.0 nodes that meet the required criteria
- Voting power changes with different lock time of the voters’ staked assets
- All the rewards for voters are stored in a single reward pool
- The process that voters can request the voting rewards from the reward pool
- The transaction that staked ELA converted into sELA
- The calculation of the total votes that include the specific voting power and the amount of the votes
Proposal #75- Elastos Guardians and Discord Migration
One of the most feel-good proposals passed in recent times was Proposal 75. The Guardians, a group of dedicated Elastos shepherds and evangelists, have been giving their time and attention to the Elastos project for many years. This recently passed proposal will finally give these people the compensation they well deserve. Another aspect of the proposal was transitioning the main Elastos community from Telegram to Discord. Discord has different channels for different topics and a good change in the right direction for Elastos Social Media messaging purposes.
The Guardians have lots to update the community about their newly funded proposal. There will be a robust community incentive program starting in February. There will be a budget of a few hundred ELA a month and the program will consist of contests and competitions the community can participate in. As previously stated earlier in the CR Grant Program section, the Guardians will be heavily involved with the ELAB project. They will help facilitate garnering ideas and opinions from the community in efforts to fund promising projects building in the Cyber Republic ecosystem.
There have been lots of interesting proposals being passed in the last 6-7 months of CRC. All the provided updates bring lots of optimism and hope that the foundations of Cyber Republic are being built block by careful block. The infrastructure of becoming an LLC and established DAO gives the project much more flexibility in making investments and partnerships with budding and well-established entities. New aspiring projects looking to build on ESC now will have a platform like Silver Starter to safely and securely launch their tokens. Pasar will soon become a more aesthetically pleasing and functional NFT dApp that will rival other more well-established marketplaces.
The long-time Guardian contributors in the Elastos ecosystem now have more resources to provide to the community in order to allow it to grow and become a more exciting ecosystem. Their help with ELAB will be imperative in helping new projects hit the ground running. Marketing efforts are being taken seriously with the multiple proposals passed by Elastos veterans Elation Studios.
All the stars are aligning in efforts to turn Cyber Republic into a decentralized society in which people can own their own data, transact, create and be free. Happy New Year.