Launch Planning: Community Update 🚀

I have mixed feelings about this ERC-20 thing. I will have to digest and think about it more, but I thought that after 18 years, the token is a SURE thing to happen on launch.

2 Likes

Replace not “co-exist”, right?

The team have done a huge amount here (Anselme in particular), the work is scoped and will continue, but it would be really good if we can launch storage and get things working in the meantime - he is working closely on the smart contracts/evm aspects - but the focus has moved to ensuring the network does as intended, we will then move that effort (once bug fixing and code refinement is done) across to Native token, while hopefully acquiring new builders, users and node runners who want to own their data - for reals.

8 Likes

There will be a period of both, but the idea as said to me, was always for the network to have its own Native token. That said, people will want to ‘bridge’ out of the network (as well as in), to trade the native token - DAG to Blockchain for this is an element that adds complexity and will create some challenges with exchanges which is why it’s good to show the network up and running and the demand for its token. Test > Network > Native, feels like a sensible sequence with that in mind - especially as it doesn’t compromise the storage layer itself.

5 Likes

The permanency of uploaded data will happen only after the launch of Native Token? It is not possible with ERC-20 temporary solution?

It is a concern, but the alternative could be a stillborn network.

At least this way, we get an amazing network, linked to a stable blockchain token. It could be a lot worse.

11 Likes

My understanding/phrasing for this, is that network won’t switch over again after the Network token is launched (erc standard), so data will be permanent for the life of the network, the Native token can then be introduced as another payment method.

3 Likes

So when this complex problem is resolved the erc-20 token will be removed from the network?

1 Like

Lol - this is a little like a client said to me years ago - we did this whole presentation on customer value creation, and the reaction was “well, I don’t hate it” :laughing:

6 Likes

phased out, more than removed I would have thought - Im not sure the merit of forcing people not to do something (or do something) is quite in the spirit of giving people power, but it’s likely more of a technical question anyway I would think (and tbf the approach you mention, speaks to removing rather than adding complexity which David is a massive fan of)

5 Likes

I’d feel a lot happier about this if it said " we WILL move" etc etc

Yours cynically, the Grumpy Person

4 Likes

Agreed, the network is what matters. The token is… who cares, there have been calls for no token.
Without trying to be negative because I feel mostly positive about the direction that is stated, I have a slight feeling that the “future native token” is how I sell things to my kids that they are highly unlikely to get.

8 Likes

Ok, I understand. So it’s just an extended Beta, basically. For me personally, it will be launched only after the permanency of our data is there. And if this is only possible with Native Token, then it’s actually great because we should not worry about ERC-20 staying there for too long, hopefully.

5 Likes

Fixed it :hugs:

3 Likes

If we talk about it as beta extended or test-net, we may fall into the trap of, it’s okay, we’ll get to it, it’s just beta/test net etc. We’re trying to draw a line to test the network out in the wild, couple of months with a test token, a short time with a network token (erc) ahead of moving to the native token. As this isn’t a product launch but a network launch, it feels sensible (for many reasons) to do in stages and to start providing value to people running nodes (and those holding shares, who will have token in exchange for them), to have something they can exchange for $/£ - the Network token can do that with exchange integration

5 Likes

Not quite:

  1. MAID
  2. eMAID
  3. Network with test ERC20 in October
  4. ERC20 Token launch January where
    • MAID/EMAID can be converted
    • Exhchage listings etc
    • Beta Rewards distributed
    • Grants/Rewadds from foundation
    • Nodes paid in ERC20
    • Perpetual Data
  5. Native token when it’s ready
12 Likes

So the Bnktothefuture shareholders will receive this ERC-20 or Native Token?

1 Like

I totally trust the Autonomi management team.

I do have a question though. Wouldn’t it be simpler to use the existing ERC-20 token in the network directly, rather than create all these new tokens? I want to save the dev team as much work as possible.

5 Likes

You know what I mean. Explicitly stated everywhere that the erc-20 coin is only temporary and will be replaced once the native token is stable and easily accessible.

ERC-20, which is going to be much better as it will be the token that will be listed with exchanges, that will have on-chain data around its supply (important for market demand) and it will have smart contracts to ensure that payments are without the ‘trust us’ clause. You can of course hold the token, for it to be convert to Native when that’s ready.

4 Likes