AMA Recap: Part 2
For part one of this series, please see our Medium post from last week.
Q: From my perspective, all decisions that DM have made are penny wise, pound foolish. I have not seen or heard from any of you folks since last year. Do you realize how much credibility has been lost? I am pushing myself to believe and keep faith in this project but you need to get more active, keep us informed and above all have the DM token listed so there is instant liquidity and the ecosystem can get jump started.
Bans: We sincerely understand your concern. We are continuing to put our best foot forward and will continue to provide updates. Though you may not see Sang and I daily in the chat, please do know, we are constantly monitoring and directing activities. We are very much tied to the development of this project and are focused on the success of the project. We feel we are making the right moves to correct past concerns, and will continue to move in the right direction there. We hope to continue to have your support!
Sang: Definitely agree with you, which is another reason that the Konstellation brand was created so that we can be more active and forthcoming about the news that is being shared and have dedicated marketing and community building on that front. We really appreciate your continued interest and the elements that you’ve mentioned are points that we are focusing on right now.
There were a few elements that went into our discussions, one of which was the absence of XEM wallet capabilities in current existence as well as some of our own concerns around the activity of other altcoins on the exchange. Not a negative fallout and we hope to have continued discussions into the future.
Q: How many developers are working on this project?
Bans: Currently, there are 7 developers dedicated to working on Konstellation.
Q: So the code will be published or it’s closed source?
Sang: Some elements of the code will be available for developers that are contributing and prescreened for the Konstellation Network. There may be open source elements that are tied to the public element of the infrastructure, but that is to be decided.
Q: Anyways moving on, In the next 2 to 3 months, Management Year 1 vesting schedule will get released. With early investors waiting for more than 15 months now. What assurances can you give to your investors that these tokens will not get dumped?
Sang: We are a core startup team looking for long term value building (which to be honest may have been where we were not that best at active real-time communication and will seek to fix). That pool is designed not only for management but all business facing executives that we are looking to bring on (each of which will have their own vesting schedules). As you’ll note the vast majority is backended and we are incentivized and aligned with you.
Q: A little random but was wondering what you guys think about the ieo’s that’s been rising in popularity and do you think DARC could profit from something like that or would that more detrimental for the long term.
Sang: That’s something that we have been paying attention to as well and have explored with a few platforms. From our perspective, it seems to be an interesting way to incentivize the usage of underlying utility tokens for specific exchanges. We don’t believe that it’s the best option for DARC.
Q: Why did you choose a XEM token instead of erc-20 in the first place?
Sang: We began with an enterprise facing solution and hybrid chain that NEM was able to provide as we embarked on this journey and Catapult 2.0 was being prepped which is why we selected the XEM mosaic in the first place. XEM wallets are now in existence for most platforms that have been around for some time.
Q: What your plans with liquidity once the tokens are listed? From your message above, I am guessing that a listing announcement is imminent on April 9th. Is that a fair assumption?
Sang: We have signed with an experienced partner to ensure an orderly market. We were pretty careful about that as we had researched nightmarish situations with conflicting interests or lack of experience in actual investments.
These questions are great and really love the support. We are in it for the long haul and the communication side of things is where we have made changes already and will continue to improve.
Q: Can you please talk about functional roles of the 6-full time employee’s you have in NY? Please also let the community know how many active full-time dev’s you have working on Konstellation?
Bans: The functional roles of the full-time employees in NY are centered on 3 main functions: Business Development, GP/LP Client Management, and Due Diligence support.
Additionally, re: your question on active developers for Konstellation, we received that question a bit early and answer is 7 developers for Konstellation (but we have more developers that work on DM and Konstellation, for a total of about 15).
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