Konstellation Community Q&A— August 2020 🤓🚀

Sharing responses and updates from the Konstellation Management team, based on the latest questions from the Konstellation Network community!🚀 Thanks for the questions, please read below for responses. Submit questions via telegram or email: Info@konstellation.tech

Sharing answers from Konstellation’s Management team on questions from the Konstellation Community

Swap / Stake:

How will the burn work given the Mosaic is extended to 2021?

  • Due to the fact that there have been early investors that have missed the swap deadline, transactions will still appear on the explorer. The final date for any swap transactions that we support will be for August 20th (11:59 PM ET). This is an updated date which we are announcing now.

What are all these swaps still happening?

  • Some of our earliest investors that are less active on social media have missed the deadline and we are facilitating those swaps. We did do our best to inform everyone of the swap, but it seems that many people still missed the instructions. Anyone who still has NOT completed their swap, can email the team directly at info@konstellation.tech for assistance with swapping functions. You are no longer able to swap directly from the DARCwallet interface, and NO swaps will be permitted as of August 20th (11:59 PM ET).

Why was the NEM mosaic date extended and how will the burn work?

  • There were some earlier investors that reached out after the fact and missed the deadline for the swap. Unfortunately, the extension of the NEM namespace is only for 1 year at a time and in order for us to facilitate swap support it needed to be extended. This will not affect token burn details.

What’s the final number on swap/burn?

  • This number is not available yet given that we are still assisting in the swap. We do believe that we are close and we will conduct the burn for the DARC-24B when finalized.

Where are the staking funds coming from?

  • These tokens are being distributed from the tokens that were slated for network and community support, NOT from tokens that are supposed to be burned.

How much longer will staking continue?

Exchanges:

When is the exchange listing date?

  • We do not have a firm exchange listing date at this time. However, as mentioned, we are in active discussions with Korean exchanges for the next listing. We hope to have an update here in less than 4 weeks.

Are you still negotiating with Korean exchanges?

  • We are still in discussions with exchanges and we are actively pursuing Korean exchange partners at this time

Product Development:

When will validators be added?

  • The validators for the testnet phase II and validators on the testnet will also be validators for the mainnet, in the creation of the genesis block. We will be inviting qualified validators to join us for the testnet phase II in September 2020.
  • If anyone from the Konstellation Community would like to become a validator for testnet, we’ll share the sign up details with more information via the telegram chat, to ensure you are able to apply when the sign up page is live.

What are the entry requirements for an invitation to be a validator?

  • We invite everyone to apply to become a validator, but there is a certain level of technical understanding that maybe required and a DARC holding requirement as well. All requirements will be shared when the ‘call for validators” is live(before September 2020). This will include specific technical requirements and DARC holding requirements.

Where is the Konstellation network explorer link, can you share this?

  • This link will be shared with the community once the testnet validators are up and running. If you have any specific questions on the testnet blockchain, let us know and we’ll provide answers accordingly.

Why weren’t the other tokens added that were noted in the updated product development roadmap? (ATOM/ETH)

  • Integration of BTC actually took a bit longer than anticipated, but we wanted to prioritize the BTC integration into DARCwallet before the others. The other two mentioned on the product roadmap are currently being worked on, and we are prioritizing the roll out of ETH support first. See our Q2 update for more information on this delay.

Financials:

Can we get details on Financials and/or financial clarity on dollars spent thus far?

  • We will not be sharing detailed financials for this project. We believe this will allow the Konstellation Network to achieve more operational flexibility to support the long term vision. Sharing this level of information was not a part of token holder agreements.

White Paper:

When will we see an updated whitepaper and why has it taken so long to update?

  • We will be sharing an updated version of the white paper (the most recent release was May 2020) which incorporates feedback from community members. We plan to share this whitepaper prior to August 17, 2020.
  • We are also working on the release of a “lite-paper” that further details technological updates and specifics around the support and integration of VegaX and the Konstellation Network. We will share this document in September 2020.

Team:

How many teams are there and how many people are on these teams?

  • Konstellation has a lean team focused on the development of the Konstellation network and DARC ecosystem. The company includes Management, Business Development, and Product Development teams. The product development team reports into Stan and Sang, and includes 6 developers. The business development team reports into Natasha and includes 5 personnel. We will also include this level of detail in future whitepapers referencing the team.

Where are the teams working right now?

  • Due to the pandemic, all Konstellation team members are working remotely in their respective home regions. This will continue until further notice.

VegaX Products:

What are the VegaX products and can we have more clarity on NAV, VEBE, & VBXM?

  • VegaX is creating strategies and indexes for digital asset management industry and has started with: Enhanced Bitcoin Exposure (EBE) strategy and the VegaX Bitcoin Volatility Index (VBIX). For more specifics on these strategies and indexes, you can learn more here. The upcoming lite-paper, will include more details in addition to what you may access online.
  • NAV, is not a VegaX strategy or product, it refers to traditional “NAV” meaning, “Net Asset Value”
  • For more information on VegaX’s digital asset management strategies and indexes, visit: https://vegaxholdings.com

Misc:

When can we have another AMA?

  • We will target to schedule an AMA in September 2020. We will align on the specific date/time and share this broadly with the community.
  • As always, you can provide your questions directly to the community manager in telegram, or via email: info@konstellation.tech

Will Sang/Natasha come into the chat to answer questions?

  • Sang and Natasha will be available during the AMA (to be scheduled for September 2020) to answer questions live.

Can 2 -3 developers join the chat and answer questions/provide updates?

  • No. At this time, we want our development team to focus on product development. Any technical questions can be provided to the community manager in telegram or via email: info@konstellation.tech, and they will get in touch with the product team for any specifics needed.

What help can the community provide to help the Konstellation team?

  • Thanks for asking this question! One of the next things the team will appreciate help with, will be to spread the word about validator sign up (when available) and sharing our project with others new to the Konstellation community.
  • Another point that will be helpful will be sharing and commenting on the content in the soon-to-be lite-paper to help optimize for future releases.

Thanks for the questions! Please continue to provide new questions via telegram and/or email below.

DARC is the fuel that drives the Konstellation Network, a niche blockchain-based service ecosystem specifically for the financial services industry.