Konstellation Ask Me Anything Summary (AMA) — April 28th 2021
On April 28th at 5PM KT the founders of Konstellation did another live Ask Me Anything (AMA). In the #AMA, the founders provided updates on the Konstellation Network, the expansion of the team, the company’s plans to list the DARC token on DEXs, DARC token use cases, and more!
If you missed the AMA and want to follow what was discussed directly, you can find the AMA discussion here.
This time the AMA was done via Telegram chat, but the next AMA will be conducted via video.
“We are consistently improving the team and most recently, Joris has joined the team to assist with Product Management. Joris has already started to provide updates to the community via the Telegram chat. He joined at the perfect time because we are nearing completion of the mainnet. The core is complete but we are working on the smart contract modules to create specific use cases for the DARC native token.”
Community Question And Answer
Why are you choosing to list on a DEX first? Is it for budget reasons? If not for budget reasons, what is the motive for DEX preference?
“We believe that the DEX market is in the first inning of exploding and we want to be part of that growth. DEX and DeFi go hand in hand so it fundamentally makes sense. The amount of volume locked and staked in the DEX market implies that a transition is occuring from centralized exchanges to decentralized exchanges. UX will unlock massive liquidity for DEXs and DARC will be there for that. Also the ability to provide incentives to LPs is a plus as we are looking to grow the new community.”
What things will be in place at the time of listing, that will encourage BUYERS? >25%APY staking? Access to X functioning products/services? Etc?
“We do intend to introduce staking incentives once DARCvault has been concluded with the mainnet launch. The token will have the ability to be used to create/invest in synthetic assets. We will focus short term on decentralized exchanges for the reasons mentioned above, but this also doesn’t preclude our search into centralized exchanges.”
When will DEX launches start? Please confirm which DEX.
“We are currently looking into uniswap, Sushi, and PancakeSwap to start the DEX journey. The first two have been around longer and we believe Sushi is heavily under-appreciated currently. We think these three represent the top contenders among power users in the DEX space.
We already have a DARC-24B available for creating a pool on Pancake.”
What REALISTIC timeframe do you foresee for the actual listing?
“We want to have direct utility of DARC before the listing date so that the value accrues itself through traditional supply and demand dynamics, including collateralized asset investing and a fee token usage for asset management products.
We also want to adequately market these use cases with YOUR help in order to further build and expand the community of DARC hodlers and users. Due to these reasons we are looking at June 30th 2021 as the realistic outside date.”
The market is in full bull mode right now. This bullish listing window will be fleeting and probably won't come around again for another 4+ years. How will you ensure you list before it's too late?
“Building and targeting for bull markets is a shorter goal than our vision of disrupting asset management through blockchain. We believe that we are actually in a secular, or generational, bull market. We are working around the clock to build out the Network and valuable use cases for DARC. We believe that the DeFi movement, particularly related to asset management and inter blockchain operability is just beginning.”
When listing on an exchange you WILL NEED market making support. MM support is much harder on a DEX than CEX. How are you planning to protect the market once listed?
“DEXs are created with AMM in mind which is the general liquidity provision without any intermediary. We intend to provide incentives so that people will want to stake liquidity for the DARC pairs on the DEX. We will also provide liquidity but more importantly, it’s about having the current and new community also providing liquidity for the listing pairs.”
Will tokens owned by the team be liquid on day one of listing too? Or will there be a vesting unlock period for team tokens?
“Generally our team members are interested in holding for the long-term. The majority of the team basket of tokens have not been distributed and are still subject to one additional vesting period. However, we can’t really speak to the tokens that have been distributed to former and current team members that have been fully vested and are within their possession.”
What marketing campaigns do you have planned & lined up?
“We are working on the marketing campaigns right now for the listing. Obviously, press will be a component, but working with influencers and pushing community growth will be a key part of the marketing strategy. We will be investing in the marketing strategy prior to the listing as well.”
What are your biggest struggles right now and what things are going really well?
“What’s going really well now is the pace of development. It doesn’t mean we haven’t hit our fair share of hurdles with figuring out code or hiring, but we believe we have a very good cadence going of new development and understanding of what else is available to expand the usability of the network. Our global hiring rate is also going well as we’re getting better at working in a remote environment.
The main struggle right now is the determination of which features to prioritize and which ones to backlog further. The industry itself is evolving everyday, which makes it more difficult to anticipate ‘product market fit’ for features. Marketing is also something we are working through in what is a very crowded and noisy marketplace. Finally, we also recognize that prioritizing connecting with the community to provide more updates on development is key, so we are working to do regularly.”