Konstellation Ask Me Anything Summary (AMA) — July 8th 2021
On July 8th, the founders of Konstellation did an Ask Me Anything (AMA) session. In the #AMA, the founders provided information on company updates, the progress the company has made toward product development, timing for the DEX listing, Konstellation rebranding, and more.
Konstellation Company Updates
“The purpose of Konstellation is to create blockchain solutions for alternative investments and we intend for the growth and evolution of the Konstellation Network to be the backbone for decentralized capital markets. So, the original plan for Konstellation has expanded to include capital markets as well. We have continued working toward hiring the right expertise and the right team members, so not only people with the technical expertise but people with the right vision that can help us grow. We have hired two smart contract Rust developers and one Typescript / JS team member who is helping us connect the blockchain with the rest of the world.
We were able to successfully complete the first iteration of the testnet. The first iteration was relatively basic. We have decided to complete all of the smart contracts functionality before Mainnet rollout. We are now working on developing a testnet with all of the smart contracts functionality set up so that we can test that as well.”
“A lot of the work that we are doing is around the smart contract system. We are developing a staking system that’s native to DARC that will allow DARC users to stake their tokens, mint an over collateralized stablecoin, and trade synthetic assets with that stablecoin. These synthetic assets will allow exposure to real-world assets that you haven’t seen in the market before. You will be able to benefit from staking rewards and the long-term growth of DARC, as well as from trading.
Q3 will be focused on the Mainnet launch, the staking for synthetic assets project mentioned before, called Alkemy, and cross-chain capability.”
Marketing And Community Development
“In support of the tech developments mentioned above, we will be re-branding and supporting the rollout of new tech features through effective communications. We are specifically updating the website and the social channels, as will be more active on the social channels as well. We will also be sharing more details on DeFi and how we plan to expand Konstellation to address capital markets.
In addition to the rebranding, we will be providing additional marketing support for the leadup to the DEX listing. There will be marketing support for each listing that we are going to promote.
Community Question And Answer
What are the biggest struggles right now?
“We have added some amazing team members, but we are always looking for more people to join the team as we are growing the company. It’s not just about talent, it’s about motivation coinciding with talent. So, finding the right team members, most prominently in development is our biggest struggle, but it’s also our greatest opportunity because our team is our greatest asset as well.”
What is going well?
“Our deeper understanding of where the DeFi technology is today. We have a good idea of where we should go to seek further collaboration with other companies in the space.”
What can the community help with?
“Helping us find more people to join the community and increasing engagement on our social channels are two ways that community members can help.”
Why DEX first vs. an exchange listing?
“We are doubling down on our vision. Centralized exchanges served their purpose in the beginning. This revolution towards decentralization is not just an idea anymore. It’s something that we want to double-down on by becoming part of the decentralized exchange movement by listing on DEXs.”
When are you planning on listing on DEXs and do you think you missed the bull run?
“I think we are in the middle of the beginning of the bull run. In terms of the DEX listing timeline, the swap was the biggest part because we need to ERC-20 for liquidity reasons. We are targeting mid-August for listing on DEXs. Having said that, because there are different DEX opportunitites like PancakeSwap, uniswap, and a DEX project we are looking at that’s targeted to South Korea, and because these DEXs have different protocols, we may do the DEX listings in steps, so not necessarily all at once.”
Will you provide DEX liquidity?
“We will provide liquidity. How much? It’s still to be decided because there are a lot of tokens that we are still accounting for that have not been swapped. It’s also dependent on the swap figures and how much is locked up in stakes since Alkemy will be live.”
Once listed, are team members going to dump their tokens?
“I take offense to that because why would be here talking to you guys if we were just planning to dump all of these tokens. No, we are not going to be dumping tokens. In order to alleviate these concerns, we are going to extend the lockup of all of the remaining development allocation, management allocation, and human capital allocation tokens, and that accounting is being done right now.
Some tokens have been delivered to team members previously that have been fully vested, so removing those, it’s not a significant amount. Then we have the remaining tokens that will be locked up for another year. We aren’t going to be talking about short-term trading because we are in the process of building value to the token. However, the steps were are taking are to align our interests and alleviate any concerns.”