April 2022

Elastos and Cyber Republic are continuing to roll out initiatives to boost their vibrant Web3 ecosystem. The versatility and composability of the Elabox is bringing lots of excitement to the future of the project. Elation Studios has been instrumental in corralling the services of TLGG in order to bring impactful organizational changes and marketing campaigns for Cyber Republic, including promoting the upcoming CRC Election, and more.

The new and inclusive DPoS 2.0 is running on the test net with plans to launch on the main net in Q4. The development of ShadowTokens, a bridge that allows other coins/tokens to enter Elastos, has been working with a leading security auditor, Certik, to review all the relevant code for an upgrade. The Pasar web app is continuing to make improvements in efforts to create the ideal NFT platform.

Many actions are being taken to create the most diverse, technologically advanced crypto project in the space. Let us dig deeper into the proposals and updates for the month of April. 

Proposals in the public spotlight

Proposal #50 Elabox Launch Initiative

Elabox represents the first Elastos hardware that provides multiple functionality within the Cyber Republic ecosystem. Proposal 50 catapulted the project into production with many community members already equipped with the Web 3.0 Raspberry Pi-powered device. As we know, the continued difficulties with logistics have hampered the distribution of the remaining orders but the team remains committed to fulfilling this as soon as they are able to.

Moving forwards, the Elabox team is focussing on dApp store development. Elabox wants to integrate a multitude of dApps within its integrated store, and is working hard to create the proper UX/UI to serve the Elastos community. Suggestion #158 was published on April 28th in efforts to fund dApp store development costs, amongst other features. This same proposal has been posted on the CR Grant Program, www.e-lab.io.

Proposal #64 CR Grant Program

The CR Grant Program has been a very advantageous action to ensure community voices are heard. While the CR Council is democratically voted upon, there are some disagreements and differences of opinions about CRC decisions compared to how parts of the community opinion is aligned. E-lab was created to give the community a more direct say in funding decisions. The Elastos Guardians have been instrumental in vetting and analyzing prospective projects looking to build using Elastos technology. 

This month, the ecosystem project, Elabox, as discussed previously, has taken a leap forward in going through the CR Grant Program via the www.e-lab.io website. Users must use the www.kyc.me dApp in order to properly vote on the proposal. The ultimate goal for Elabox is to take their dApp Store from Alpha to Beta, hire new developers to develop UX/UI for the Elabox website and ElaboxOS, as well as releasing a free version of ElastOS for others to install on their own RPi or any Single Board Computer.

Having successfully navigated the original CRC proposal process, Elabox is showing there are multiple avenues to get funding in order to build and better their product to benefit Elastos.

In order for the CR Grant Program to fully launch there needs to be 200 activated accounts, but with a little over 70 at the moment, more attention from the community is required. Learn how to join and vote for CR Grants here.

Finally, there have been improvements made to the landing page and UI at e-lab.io, making navigation and registration for new participants easier. This will be updated as soon as can be arranged by the team.

DO THIS NOW – make your voice heard.

Proposal #65-66 Contract Tier 1 Marketing Agency, TLGG Omnicon to Create and Execute a 12-Month Marketing and Communication Strategy

Proposal #65 and 66 proved to be very important in the growth and development of the Elastos ecosystem. TLGG Omnicon are industry leaders in developing thoughtful and forward thinking marketing strategies in order to move ecosystems forward and build bigger and more engaged communities. With these proposals passed, TLGG has hit the ground running with their analysis and efforts. 

TLGG and Elation Studios will be posting an update soon regarding the progress of the proposal. TLGG will be focusing on specific deliverables in order to best enhance the ecosystem at large. There will be specific analysis conducted to best change the specific organizational structure and how the ecosystem is run. TLGG Omnicom will also be running multiple campaigns for aspects such as the upcoming CRC Election, the Cyber Republic website, and videos to attract developers. Be on the lookout for an update from Elation Studios very soon. 

Proposal #67 Proposal to Develop a Dedicated Pasar Web App

The explosion of Non-Fungible Tokens (NFTs) has penetrated almost each and every crypto ecosystem. Elastos was no exception to this NFT revolution. NFT projects like Phantz and others prospered on the Elastos Feeds dApp, specifically, via Pasar. With the demand and excitement for the Pasar web app, Proposal #67 was officially passed in order to fulfill the needs of the community. The ultimate goal is to have Pasar evolve into a full-fledged NFT decentralized marketplace (DeMKT) with a liquid marketplace that includes multiple functionalities for creators, collectors and traders alike.. 

The Pasar team planned on releasing the new Pasar DeMKT in mid-April, but is now postponed by a few weeks to provide additional features. However, there has been real progress made within the Pasar DeMKT web app. The team has finished the collections integration, adding rarity and attribute displays. Hive, the future storage solution in the Elastos ecosystem, will soon be integrated into Pasar. After the implementation of Hive is complete, the new Pasar web app will be released to the community.

Stay tuned for a brand new slick interface and great user experience with Pasar 2.0. And further developments are afoot regarding the economic model for Pasar, payments and rewards for NFT users in the new version: a means of incentivising and rewarding buyers, sellers and creators using the DeMKT (decentralized marketplace). Sounds exciting. What could this mean?

Proposal #77- Shadow Token Audit and FilDA on ESC

Decentralized Finance is one of the main narratives in the cryptoverse. Elastos and Cyber Republic are looking to get a foothold in DeFi through supporting their lending and bridging dApps: ShadowTokens and FilDA.

Proposal #77 passed for the sole reason to bolster these existing Elastos dApps, which allow more liquidity and non-Elastos assets into the ecosystem. FilDA already hosts more than $73 million in TVL, while ShadowTokens is the critical bridge that allows other assets to transfer into Elastos. 

The team from Shadow Tokens has been in close coordination with their auditor, Certik, regarding contract security certification. Feedback was given to the team and code was then improved. Certik is continuing to audit all of the code and will probably provide a final audit report in May. FilDA also ensured a critical fix was audited and approved following this month’s attack on the protocol.

There is a Post-Exploit Remediation Plan to make community members who lost some funds in the breach whole again. This is unheard of in the DeFi Lending and Borrowing market, and shows FilDA is truly concerned for their users and is a project destined for long term banking services in the Cyber Republic.

Proposal 79 Elacity Web3 Data Exchange CRC Proposal

Sasha Mitchell, or Elastos Sash as community members know him, had a paramount proposal passed regarding his NFT exchange, Ela City. Proposal 79 was constructed in efforts of taking Sash’s NFT marketplace to another level. While Ela City has been able to generate over 47,000 ELA of trade volume with over 3000 NFT assets onboard, there are some missing elements that would propel the marketplace’s overall functionality and features even higher. 

Ultimately the full Elastos tech stack is not yet fully incorporated into Ela City. DID (Decentralized Identification) is one of Elastos’ hallmark features. Ela City will implement DID logins using Elastos Essentials for access to their marketplace. Users will have unique verifiable badges that signify their status on the platform. Community members will also gain unprecedented access to 1GB of data storage, utilizing Elastos Hive 2.0. Furthermore, Carrier will be enabled when data/file transfer of NFT assets are possible. Finally, Ela City will run via Elabox. 

Summary

As the crypto space is in a state of consolidation, with geopolitical factors impacting markets, including recent news such as the NasDaq experiencing the greatest fall in over a decade this month, Elastos and Cyber Republic continue to make progress to build a proper Web 3.0. A Web3 which supports finance, community interaction, and data security.

Finally, the Elastos Foundation is “putting their money where their mouth is” with the continuing Buyback Program in efforts to support the transition to DPoS 2.0. Currently, the count of ELA bought off the market is at 726,000 and is still growing.

Between NFTs, DeFi, Hive storage and more, Elastos and Cyber Republic continue to build and form the foundation of a true Web 3.0.