Business Update
Kilian:
I’ve started off with doing some further pitch deck refinements based on feedback that has been received from the academic panel with the professors. We’ve also been looking for a pitch deck designer as we pretty much have the pitch deck completed. To give it a fresh look and be able to present it to the outside world, we still need to give it a design re-vamp, and we’ve reached out to various agencies and individual designers to get some quotes.
Now, it’s just a matter of deciding which one we’re going to choose. Once we have the design pitch deck ready, we are also looking forward to being able to present the pitch to you as a community, and furthermore, to the outside world. I’ve also participated in the rebranding process that we’re currently undergoing. We’re in the process of finalizing the logo that we are looking to use. Fola, will also explain more on that front. I’ve been also working on aggregating reporters and doing outreach on that front. So far, unfortunately, none of the reporters I’ve reached out to gave us a positive reply. We’re looking to get more coverage around Tauchain from outside media outlets. Under that scope, I’ve also aggregated some AI podcasts and also done an outreach on that front to those AI podcasts. We got one positive answer from one podcast, so I’m looking to build the relationship and see if we can get coverage. We’ve also, under the scope of getting another exchange listing, we’ve been working on getting an audit done. So we have scheduled for next week an appointment with one auditing company, quite a popular one and we’ll see if we can get that done soon. So we’ll have the ERC-20 Agoras token contract audited.
I’ve also been following the community discussion, mostly around improving tokenomics on Telegram. There’s been lots of discussion around that topic. So I’ve brought forward that matter also to the team. We are seeing if we can make adjustments to the current tokenomics accordingly, in order to incentivize people to hold. Let’s see in which way we can make that happen.
The community member of the month, this month goes to Ethan for his long-term support of the project and for managing the Chinese Tau community, so congratulations, and that’s it for me so far this month; thank you.
Karolina:
This month we’ve made great progress with the branding for Tau. A designer is already set to polish selected concepts, which means that the face of Tau is becoming more and more clear. This process has already involved several design rounds, many discussions about what such a complex product like Tau should look like visually. Once we work out the final logo, the designer will create the rest of the visual branding elements such as the color palettes, the fonts and the mood boards and having all these elements will allow us to get to updating the website which is a very necessary task. Meanwhile, we’ve also worked out the details of the PR process that we’re going to implement together with our marketing partners. PR content creation and publishing obviously takes more time than pushing out quick social media ads but it also brings much more value, and it allows us to target our intended audience more accurately.
Fola:
This month, I’ve been working on internal pitching; I know we’ve been working quite hard on that, especially with Kilian leading the front. He’s been doing really well, and we’ve pitched the project just externally, just to different exchanges and things of that nature. And we’ve had some really good feedback. And sort of leading on to the exchanges, we’ve locked down two of the three exchanges that I said I was in the lockdown; we’re just waiting for the listing dates. We have signed the contracts, so it’s just waiting for that to come about. On the third one, we are again working on that too. Kilian mentioned getting the contract audited; the Agoras smart contract audited; that’s part of the listing that we need to go through.
We also need to work on the Singapore legal opinion that I’m working on right now; we’ve actually made quite a head rate already, so that’s very good. Again, working on the rebranding, this is something that’s been ongoing for a little while now.
We’ve had some recent results that we’re really happy with. I’ve been working on the hiring of the blockchain developer. This is obviously a really important position for us. I know you guys have been talking about quite a lot on the Telegram channel, but it’s a very important position. I know you guys have spoken about Lucas Saul as well, who unfortunately couldn’t take the role, and you know it’s just really important that we get this right. So we’ve actually hired a talent acquisition consultant to essentially find us a suitable blockchain developer that can work alongside us. We’re also working with an external company, to help us fill that role as well. So we’re going out in two different ways. And then also, working on the marketing for my side as well, alongside obviously Kilian, Ohad and Karolina.
We’ve negotiated a new PR package that we’ll be executing once we fully establish our content strategy, which Karolina’s working on.
Q&A:
Q: How are block producers incentivized without a native cryptocurrency on Tauchain?
A: How exactly over time block producers will be incentivised is up to the users; it’s not that we say that they should not be incentivized; we say that the users can control and can change how the incentive is built. Thoughts that are coming recently is to have a pay for computation network and using proof of computation using the Agoras token. This can also be a starting point for miners with the heavy job to compute the opinion map, at least according to how the current design looks like.So yes, it might be that we start with Agoras, but in any case the users will be able to control it and change it to any other incentive structure.
Q: Is Agoras using proof-of-work or proof-of-stake consensus mechanism?
A: Agoras token right now is an Ethereum token, previously normally a token. So it builds from the Bitcoin Ethereum blockchains. But in the future, the final Agoras coin, the whole point is that users will be able to control which a coincidence mechanism is being used. And therefore, it will not be fixed to one way. And by that, it will also by definition be the best, because whenever someone finds a better way, we can change to that best way.
Q: Will Tau or Agoras have gas fees like on Ethereum? If not, how can that be achieved?
A: Yes. So currently, like Ohad said, Agoras is an ERC-20 token, so it’s running on top; it’s a layer two token on top of Ethereum.
So it does have gas fees associated with it. However, we’re trying to address the issue with the high gas keys with the proof of computation mechanism.
That will lower the gas fees because it removes the requirement that every node will have to run all the smart contracts. So yes, we will have gas fees, but we have mechanisms to reduce the gas fees.
Q: When will Tau offer us the tools to discuss the game theory? So we can work on the game theory of Agoras?
A: Yes, the question is about “when”, and as you already know, it’s very hard for me to answer “when” questions because it’s mostly uncharted territory. So I really don’t know. But for absolutely sure, it will come.
Q: Is Tau already fast enough to manage Tauchain at one block per day speed?
A: Ultimately, we didn’t try. But I would guess that, yes, that the current speed of TML can support such a thing.
Q: What is the status of the project in terms of program synthesis?
A: Well, recently, we made a significant advancement that directly reflects on program synthesis, which is about solving Boolean equations and automatons and other computational devices, in the form of Boolean algebra. Therefore, we can give constraints about them in some higher-order language. Then solve those constraints and obtain the computational device that answers those constraints.
