Welcome to the August 2023 edition of the CR Monthly Update, offering a comprehensive overview of the latest strides within the Elastos ecosystem. Throughout this month, our journey has been marked by significant achievements, strategic partnerships, and forward-thinking initiatives that are propelling Elastos to new heights in the world of decentralized technology.
This edition highlights the successful approval of Phase 4 for the Elavation project, a testament to the resounding support from the Elastos Community, Foundation, and the Cyber Republic Council. Elavation’s holistic approach, encompassing go-to-market strategies, marketing campaigns, and business development initiatives, positions Elastos at the forefront of the blockchain and Web3 landscape. Elastos’ premier NFT and media platform Elacity made positive strides in developing its Runtime and DRM technology.
Furthermore, the collaboration with Staking Rewards showcases CR’s commitment to expanding Elastos’ presence in the crypto staking sphere, emphasizing innovation, user engagement, and thought leadership. These accomplishments, alongside the Elastos: Destiny Calls Grant Campaign and strategic resource allocations, illustrate the cohesive efforts shaping Elastos’ thriving ecosystem.
Proposal #91 Elacity Digital Rights Management (DRM), unlocking a DRM powered NFT Video Sharing Platform and beyond
Elacity has been working diligently over the past year to develop a groundbreaking DRM (Digital Rights Management) system called the Access Economy. This system involves packaging and hosting encrypted capsules on decentralized networks and distributing tradable NFT access tokens, creating a user-owned digital economy. Initially focused on Video NFTs, the Access Economy’s protocol and architecture have the potential to power various asset types.
The team has been writing a whitepaper on the Access Economy, aiming to integrate Elastos SmartWeb toolsets and collaborate with other important players such as IPFS, MPEG, and W3C.
Elacity is excited about the future and expresses its appreciation for the support of its community, emphasizing that they are just beginning to realize their vision. The plan is to launch DRM video in the final quarter of the year, with many exciting developments on the horizon.
Proposal #112 ElastOS Runtime – reinstating the missing pillar with Elacity
Elacity is actively working on developing an innovative Runtime video player as a crucial component of their DRM system, the Access Economy. This video player is designed to replace the existing Dash-js player and offers several key features. It allows users to play videos directly on their devices through a web browser while ensuring the security of content by keeping the license key for content decryption sandboxed, enhancing protection against unauthorized access. Viewers can engage directly with creators’ smart contracts and digital capsules during video playback, enabling a more interactive and dynamic experience.
Elacity’s three-person development team is working tirelessly to bring this technology to fruition and expresses deep gratitude for the support they’ve received from their community. They are committed to delivering value to the world and have ambitious plans for expansion in 2024.
In addition to the video player, Elacity is also planning to integrate Version 1 of the Elastos Runtime media player, incorporate Alibaba’s Zero-Knowledge Proofs (ZKPs), and provide IPFS hosting solutions for asset owners. This collaborative effort, ideally involving the Essentials wallet, aims to establish a global, user-owned video marketplace.
Furthermore, Elacity has been engaging in discussions with stakeholders in the media industry, with the hope of onboarding initial assets to initiate a network effect and further enhance the Access Economy’s ecosystem. The team is optimistic about the future and remains dedicated to realizing their vision of a user-centric digital economy.
Proposal #119: Elavation Team: Phase 4 Approval
In a significant development for the Elastos community, the Proposal for funding Phase 4 of the Elavation project has been successfully passed. The Proposal garnered strong support from the Elastos Community, the Elastos Foundation, and the esteemed members of the Cyber Republic Council. The Elavation project, which aims to establish a cutting-edge ecosystem within Elastos, has reached remarkable milestones during the preceding strategy and execution phases.
The Execution Phase, initiated in early 2023, has witnessed a flurry of content creation, complemented by a series of remote and in-person business development endeavors. These efforts have not only contributed to heightened community engagement but have also paved the way for successful partnerships, particularly in pivotal sectors like identity, gaming, community, and infrastructure.
Alibaba Cloud’s prominent alliance stands as a testament to the project’s efficacy in forging impactful collaborations. The Year-to-Date achievements underscore the team’s dedication, showcasing substantial user growth and the establishment of robust partnerships. Building upon these achievements, the Elavation team’s Phase 4 Proposal secured approval, signaling confidence in the team’s capabilities. The Council’s decision to approve its Phase4 funding for the upcoming growth phase underscores the commitment to meeting yearly Key Performance Indicators (KPIs), driving user growth, and fostering strategic alliances.
With the successful passage of this Proposal on August 4th, 2023, the Elavation project is set to accelerate Elastos’ progress and make significant contributions to the advancement of the Elastos ecosystem.
Proposal #120: Empowering Growth: Elastos Joins Forces with Staking Rewards for BPoS Staking Advancement!
The Proposal aims to establish a partnership between Elastos and Staking Rewards, a prominent data aggregator in the crypto staking industry. The collaboration seeks to enhance Elastos’ presence and growth within the crypto staking ecosystem. Key benefits include a 35% integration cost discount, free advertising on Staking Rewards’ platform, and exclusive participation in the Staking Summit. The partnership’s objectives are to increase user participation in Elastos’ staking, attract high-quality validator node owners, improve brand awareness, and solidify Elastos’ position as a thought leader.
The Proposal outlines clear goals, such as boosting user acquisition, enhancing brand exposure, increasing ELA stake participation, improving validator quality, and maximizing advertising impact. The partnership leverages Staking Rewards’ established platform, network, and resources to achieve these objectives and position Elastos as a dominant player in the competitive crypto staking space.
Proposal #121 & #122: Elastos: Destiny Calls – Grant Campaign to Accelerate Ecosystem Growth
The Elastos: Destiny Calls Grant Campaign Proposals, which were passed in late August 2023, introduces the Ecosystem on-chain growth accelerator (ESC), backed by the Elastos Cyber Republic (CR). The central aim is to expedite the growth of protocols on the Elastos Smart Chain, promoting a robust Web3 ecosystem. By enticing projects to integrate Elastos technologies and capitalize on its network’s strengths, the campaign aspires to intensify on-chain activity, entice users, and bolster liquidity within the Elastos Smart Chain.
The campaign’s inception arises against the backdrop of Web3’s ongoing evolution, challenging the dominance of single chains like Ethereum. The Elastos Smart Chain offers a cost-efficient and efficient platform for diverse blockchain ventures. The initiative targets protocols spanning DeFi, NFTs, GameFi, and beyond, bolstered by an engaged community, streamlined funding processes, and comprehensive technical assistance. Guided by the collaborative governance of the Elastos Cyber Republic DAO, the campaign paints a vision of a decentralized future, positioning Elastos at the forefront of shaping the dynamic Web3 landscape.
Secretariat’s Phased Payment Approvals for Proposals
The Secretariat has initiated phased payment approvals for several key activities within the Elastos ecosystem. The following allocations have been made:
- CR Council Incentive Program: 1846 ELA
The CR Council Incentive Program, with a budget of 1846 ELA, aims to incentivize and reward active participation and contributions from CR Council members. This allocation supports the continued engagement and dedication of Council members towards the development and growth of the Elastos ecosystem.
- Elavation Phase 4: 49,250 ELA
The Elavation Phase 4 Proposal has been allocated 49250 ELA to fund ongoing development and initiatives related to Elavation, a critical component of Elastos’ ecosystem. This phase focuses on advancing key aspects of the project, contributing to the overall progress and innovation of the platform.
- Staking Rewards Proposal: 7500 ELA
The Staking Rewards Proposal has secured a budget of 7500 ELA to establish a partnership between Elastos and Staking Rewards. This collaboration aims to enhance user engagement, brand presence, and growth within the crypto staking industry, offering unique benefits and opportunities to both parties.
- Guardian Proposal: 1400 ELA
A budget of 1400 ELA has been allocated for the Guardian Proposal, which involves supporting and incentivizing the activities of Guardians within the Elastos ecosystem. Guardians play a crucial role in helping the community and managing social media channels.
- CR Website Proposal: 1250 ELA
A budget of 1250 ELA has been allocated for the CR Website Proposal, which aims to enhance the online presence and functionality of the Cyber Republic (CR) website. This investment aims to improve user experience and accessibility, contributing to the overall success of the CR platform.
Returned ELA: Additionally, there are returned ELA from various sources:
- 4054 ELA from Elavation Phase 3
- 8626 ELA from the Secretariat Work Plan
These returned ELA contribute to the CR Treasury, enhancing the available resources for future initiatives and activities within the Elastos ecosystem.
Overall, the phased payment approvals and allocations represent a strategic approach to managing resources and supporting key projects and proposals within the Elastos community. The Secretariat’s efforts aim to foster growth, innovation, and collaboration within the ecosystem, ensuring the continued success of Elastos.
As August concludes, the path in the Cyber Republic is illuminated by significant strides. The approval of Elavation’s Phase 4 exemplifies CR’s unity in advancing Elastos’ role in the blockchain landscape. Elastos’ collaboration with Staking Rewards showcases the project’s expanding influence in crypto staking, while the Destiny Calls Grant Campaign underscores Elastos’ commitment to a dynamic Web3 ecosystem. Elacity continues to make tremendous progress in creating a true Access Economy for the CR ecosystem.
Strategic resource allocation, from website enhancement to project support, highlights the CR’s judicious approach to growth. These steps collectively reinforce the dedication to innovation, collaboration, and decentralized progress. With every achievement, CR sculpts a promising future, cementing the project’s place at the forefront of the evolving blockchain and crypto landscape.