Konstellation Ask Me Anything (AMA) Recap— February 24th 2021
On February 24th at 5 PM KT the founders of Konstellation did a live Ask Me Anything (AMA). In the #AMA, the founders provided key updates, what’s been happening with Konstellation, the latest on the Konstellation network build, the status of phase 2 of TestNet, updates on the vision and future of #Konstellation, the company’s recent focus on developing the ecosystem for the DARC token, and more. The team will publish the product roadmap shared during the AMA shortly.
If you missed the AMA and want to watch a replay, click on the link below!
“For everyone the world has become a very different place in 2020. As a team we became fully remote. Traveling and sitting with the team at least a couple times a year became impossible, so we’ve translated ourselves into a fully remote company. We were able to focus on perfecting processes and adding more people to the team. We also reorganized our development verticals which helped us prioritize network over features over gaps that we are building on the ecosystem that ultimately accrued value for DARC token holders.
By going remote we have been able to source talent from a truly global talent pool. In terms of our tech, because we are focused on asset management, we are leaning towards solutions that provide the most inter-blockchain connectivity.
We are now moving on to the second phase of the Konstellation network. We are in testnet phase 2. We got an overwhelming response to our call for validators, but we did have to limit the number because the validators have to be with us during the genesis process of the main net, so we were looking for validators that could be with us long term.
The second phase that we are working on that is being timed with the launch of main net is integration with smart contracts.
The other update that we have is on DARC wallet. That has been our primary interface. It’s where DARC token holders are holding their DARC 24-B’s. We are also working on the release of the next version, 4.4.0 to support Ethereum as well as an ERC-20 version of DARC.
We have faced a delay on the wallet because Ethereum is facing heavy congestion with regards to their fees.
We are on track to rollout the first version of the smart contract integration by the end of the first quarter of 2021. We are building a DeFi solution that is going to provide direct value for the DARC token, which will allow the creation of a stablecoin based on DARC. Ultimately we are creating other investment vehicles that you will be able to use DARC to invest in.
We are also working on direct integrations with some of our VegaX products, such as the indexes and asset management products. These will also be tied to the DARC token.
While working on the tech build, we are also rebuilding our community. We have hired new community managers and are also working on developing our communities through our Korean channels. We are working with a firm called UBB on managing our Korean channels.
We are working with more AMA organizers for the next AMA, which will be in late April. As we are hiring more people in Korea, we will focus on providing more information in Korean language in our Korean chat. You will see more activations of the $DARC Knight Army (#DARCknights), which is what we are calling our community.
We are also looking at other regions as well besides Korea that are becoming more active in the crypto space.”
Community Question & Answer
When is the exchange listing date for the DARC token?
“We are working on it. Exchanges have also changed their process as well over the last few months. We are very close, but the listing is also tied to the DeFi solutions that were mentioned earlier. Our primary focus is on the Korean exchange market and those are who we are having conversations with now. We don’t have a firm date yet. Both centralized and decentralized exchanges are on our radar.
It’s extremely important to us and our team to build an ecosystem for DARC vs. simply getting listed on an exchange to pump our token price.
We hope the community continues to support our project and Konstellation’s development because our ability to create true value for DARC is of top priority, and we have taken significant strides on both the tech development and the partnership route to be able to create a robust and valuable ecosystem to support a strong DARC Token Economy.”
How many team members do you have working full-time?
“We have 12 full-time team members. In addition to the marketing and community management hires we mentioned earlier, we will also be focused on adding to our development team. We need #rustlang devs, and will gladly take intos — email firstname.lastname@example.org”
When will you roll out Konstellation Mainnet?
“We are looking at end of quarter 1 as the roll out timeline for the Mainnet, pending all testing.”
“At VegaX we are working on centralized asset management solutions that use cryptocurrency, so Bitcoin and Ethereum index products. Our goal is to directly integrate these products with the DARC token. We are working on specific DeFi solutions to allow DARC token holders to use DARC to invest in VegaX strategies.”
DeFi is a growing topic in crypto right now. How are you on track to deploy revenue generating solutions while the hype is still present for DeFi products?
“We are working on DeFi solutions to provide synthetic exposure through DARC. We are creating a unique stabilization mechanism for stablecoin generation using DARC, so creating a currency that you invest in and collateralizing with DARC. At the same time, we are looking for partnerships and have been talking to folks who offer staking as a service, yield generation. These products exist because DeFi is still relatively hard to access for most people. So we are looking for partnerships that offer these types of solutions.
DeFi is a hot new word, but it’s a space that we have been in as a company for over 6 years. We started our journey from traditional finance because we thought it was too centralized. We have seen this from the ground up. Nobody was listening to us when we first started, but it was critical at the time to decentralize finance.”