As the year comes to a close, we can reflect on how the crypto world has been stricken with lots of FUD, numerous major “black swan” events, and continued negative mainstream press reporting. Following the FTX disaster, there were rumors of the world’s largest exchange, Binance, being insolvent as auditing firm Mazars cut ties with the industry behemoth due to questionable information on proof of reserves. Sam Bankman-Fried, former CEO of FTX, was arrested in the Bahamas and posted $250 million bail a few days later. While conflicts and scandals were happening in the forefront of crypto, Elastos and Cyber Republic continue to build towards a new and equitable Web3 for all the people in the world.
Elacity, Elastos’ premier NFT platform, is continuing to make strides with its functionality and UI. The Bella NFT collection created a new utility for its community members that allows membership and discounts for special services. The Elastos Info Team has now ceased operations, and a new group of CR veterans have stepped in to assume responsibilities for the Elastos.Info website and social media feed.
MButcho, longtime Elastos contributor, has assumed leadership of the Elastos Guardians, with Sash and new member 4HM3D alongside him. Finally, Kairon Labs, the market maker partner for Elastos and Cyber Republic, has provided their monthly report on ELA. It’s season and all parties are doing whatever it takes to make Web3 a reality for the masses.
Proposal #75 Elastos Guardians and Discord Migration
December marked the end of a chapter for the original Elastos Guardians Team. Proposal #75 brought a bright group of Elastos evangelists that helped the ecosystem in many ways. They successfully ran the project’s Discord server and provided numerous updates and information to the community. The squad also ran a number of social media contests with ELA rewards to the community members that participated and excelled in the competition tasks.
In December this proposal officially ended and 1,814.53 unused ELA was returned to the CR Expense account in efforts to boost the ecosystem’s funds for future endeavors. As will be discussed later, the Guardians will continue their journey managing the community with a different structure in place.
Proposal #80 Contract Kairon Labs to Perform Market Making Services for Elastos
In May of this year, Kairon Labs was tasked to take on the Market Making duties for the ecosystem and the ELA coin through Proposal #80. Elation Studios were instrumental in recruiting Kairon Labs for the job. This relationship led to multiple ELA coin variants getting listed on major exchanges, while managing liquidity on various exchanges for maintaining order books and spreads.
Kairon Labs has produced their monthly update (December Kairon Report – ELA) regarding the progress made for the Elastos project.
Proposal #91 Elacity Digital Rights Management (DRM), unlocking a DRM powered NFT Video Sharing Platform and beyond
In September, Sash Mitchell created a bold Proposal exploring Digital Rights Management for his NFT marketplace Elacity. The overall goal of this initiative is to successfully link proper rights to each owned NFT. There has yet to be a cohesive relationship between NFTs and the associated ownership rights/privileges. Through working with an experienced DRM advisor, Dr. Xin Wang, Sash and the Elacity team are well-equipped to gain first mover advantage in the DRM/NFT space.
Elacity has successfully come up with a proper Solution Design that lists the key points in developing a proper DRM NFT.
The project has included new widgets within the Essentials wallet to take full advantage of simpler navigation to the marketplace and decentralized storage with just a few clicks. Elastos Founder Rong Chen tweeted about how the functionality of the Bella NFT gives users a 28% discount when purchasing GPU time for minting Flint AI generated NFT’s. Elacity has continued to add different use cases and functionality to their users in efforts to bring more value to the platform.
Proposal #102 Elastos Guardians 2023 Term
As stated above, the Elastos Guardians finished their inaugural term in 2022 with lots of solid results within the community. Proposal #102 was crafted to extend the term of the Guardians with a slightly different format. MButcho was elected from the “Old Guard” of Guardians to champion the new group for 2023. The community decided to choose an additional two people to work with MButcho on moderating the Discord server alongside other community tasks.
After the proposal was successfully passed by CRC, two members were officially voted in as the remaining new Guardians members. Sash Mitchell, longtime Elastos contributor and Elacity founder, was voted in as the first Guardian to work aside MButcho. 4HM3D was the second Guardians member voted in by the community. This group of three will pick up where the original Guardians left off – guiding and assisting the community, facilitating social media initiatives, and welcoming ecosystem projects to Elastos.
Proposal #103- Elastos Digerati Team contributes content to Info Website and various social media channels
In December, the former Elastos Info team was dissolved. Therefore the Elastos Info website and social media account needed another group to take the place of this well-established team. Elastos Digerati Team, led by the current CR Secretariat General, Cassie Zhang, were successfully voted in by the CRC to take on the roles and responsibilities of managing the Elastos Info website and social media accounts.
Alongside Cassie, longtime Elastos community member and contributor, Jeremy, will be the lead content writer and editor for the Elastos Info website. Bigp, former member of the popular supernode “Enter Elastos” and longtime Elastos evangelist, will be in charge of managing the Elastos Info Twitter account. Another veteran community member, Dave, will manage the other social media accounts for Elastos Info.
Elastos Digerati will work hand in hand with Elavation to make sure that the ecosystem’s BD is aligned with the Elastos Info website and Social media accounts. The Elastos Digerati team will be getting a donation of up to 10K USDT per month from EF. At the moment, the proposal doesn’t include any plans for maintaining Chinese channels, but the team is considering adding that to their scope of work. They’ll make a decision on that in the near future.
As the cryptocurrency and overall financial markets are lying in disarray, the contributors working for Cyber Republic continue to put their heads down and get work done. A new Guardians team with passionate members will continue the progress of the last group with more community initiatives and an organized leadership process. Although the prices continue to dip in the market, Kairon Labs is continuing to make sure that exchanges are well managed, and liquidity is in place for the ELA coin, even in such dire conditions.
Elacity is continuing to make progress on its mission to make their platform a place in which NFTs can give full Digital Management Rights. The former Elastos Info team has moved on but are much appreciated for all the hard work they’ve done over the years. Fear not, the new Elastos Digerati team is looking forward to taking on the new responsibility of furthering the value and messaging of Elastos Info for the community and crypto enthusiasts alike. Here’s to a bright 2023 for Elastos and Web3!