Konstellation Network Q1'2020 Recap: Pushing Through to Q2! 💪🎉

Konstellation & The DARC Token Product Development Update — Q1 2020

2020 Q1 has been a tough time for everyone around the world and our hearts and prayers go out to everyone that has been affected by the unprecedented pandemic. Additionally, the whole team extends its gratitude to the healthcare workers on the front-lines and all those that are serving essential businesses so that the most critical elements of our everyday lives still stay in motion.

Even through it all we have still been hard at work on the development of the Konstellation Network and our initiatives that will continue to increase the value of DARC with more people using it and decrease the circulating supply! Our work for the first quarter has been focused the following critical elements:

  • Technology development to provide a strong foundation for actual usage and adoption

We’ve already shared some of the work we have done previously, but there are some new exciting initiatives below that we will be providing more information on soon!

  • Konstellation Testnet Phase 1 — Complete (More information to come on our experience!)

In addition to the above, we also wanted to share updated details on the key topics below.

Product Development Update:

As we shared, we have updated Konstellation’s product roadmap on the site. See below for snapshot. In addition to expanding upon these details in the latest whitepaper, we are also sharing key highlights from Q1 below.

  1. DARCwallet’s upgrade now supports DARC swap functionality, and will also include upgrades for staking (🙌) and rewards for our community (🎉). More details to come on May 4th 2020!✅

Token Distribution, Burn, & Vesting:

DARC: NEM Mosaic

  • 448,667,238.8274 DARC were distributed as part of the token sale.
*Compensation for hiring and retention of talent

DARC-24B: BEP-2

  • 1,000,000,000 DARC-24B (BEP-2) were issued as part of the token migration

We will provide a separate update on the vested schedules and balances of the specific allocations in our next update!

Token Updates

  • The Company Reserve has been reallocated to a Network Reserve that will be used for purposes that help the growth of the Konstellation Network and network security. This allocates more DARC to the direct growth and development of the Konstellation Network!

Exchange Updates:

Officially Delisting on Exrates + Continuing to Explore Additional Exchange Partners

First things first: We have made the decision to officially delist off Exrates and we are happy to confirm we have an official delisting date: May 13th, 2020.

For DARC holders that have their DARC on Exrates currently: you MUST withdraw your tokens ASAP. Once the official delisting date is upon us, you will no longer have access to your tokens, neither Exrates nor Konstellation will be able to assist any further. Once you have withdrawn your tokens make sure to swap them to DARC-24B on DARCwallet!

(Reach out in Konstellation’s telegram or via email info@konstellation.tech if you have any issues)

Konstellation AMA: May 11th, 10 AM KT! via Konstellation’s Telegram

The team is eager to connect with the community via the Founder AMA: May 11th at 10 AM KT on TG!

Send any additional comments or questions for the AMA directly in Konstellation’s TG group or via email: info@konstellation.tech.

As always, thanks for your continued support!

Everyone stay safe!

The Konstellation Team

DARC is the fuel that drives the Konstellation Network, the infrastructure for the interoperable DeFi capital markets.