We were excited to hold this AMA session in our Telegram Chat! Thanks to all participants and our fantastic community for your questions!
The AMA session was divided into 3 parts:
- Roadmap and product plans
- Questions from the Telegram chat https://t.me/oneledger
- Live questions
You can read it here: https://t.me/oneledger/478376 or read the short RECAP in text mode below. Please note, that questions have not been redacted.
George Connolly, CEO OneLedger Inc.
The blockchain industry has come a long way since the launch of Bitcoin in 2009. Today, blockchain technology is being used to solve complex business problems and revolutionize industries. However, despite its potential, significant challenges still need to be addressed, such as interoperability, governance, privacy, and scalability.
We intend to remain at the forefront of addressing these challenges. Our mantra going forward is ECOSYSTEM GROWTH. This is our single-minded focus. Interoperability will continue to be the fulcrum of that mandate.
Nothing can be achieved in this industry without partners and the roadmap that we will share today speaks to that - as we grow we will do so with subject matter experts in all the fields that we play in. So what does the future hold for us - let's lay it out.
1. Launch of USDT/OLT pair on KuCoin CEX. May 2023 - Done
With the current market dynamics, it is essential to have a USDT pair - we have made this happen on our biggest trading platform
2. We have closed the deal on a new Exchange - details to follow soon.
AI is the future - to this end. OneLedger will Integrate AI and machine learning algorithms to enhance the platform's interoperability capabilities and provide predictive analysis for smart contracts. This will be done with our partners.
We will create a marketplace for NFTs using OneLedger's custom tokens that can be traded across different chains, providing a platform for artists and collectors to buy, sell, and trade NFTs. We have already started on this - its time to execute it
As we build out the ecosystem - we will require enhanced security - we spoke to AI before, but specifically - we will introduce advanced privacy solutions to the platform that will allow businesses to secure their data and assets on the blockchain while maintaining privacy and confidentiality. Our partners at Cygnet will move their signature platform to this enhanced ecosystem.
With another partner - with whom we will have an AMA shortly - we will introduce IoT solutions that enable businesses to securely connect and manage devices on the blockchain, providing a secure and decentralized platform for the Internet of Things. This enhanced application will support the primary solution offered by this Partner who is ground breaking option in the global food security business
We are working with the Group Olivia (who you have heard of before) for an enhanced Moonba Dex application - while running the transactions across the OLT network.
Our focus is ecosystem growth and we have a long list of partners lining up to be a part of the process.
Q: The first question is from Garron. What will happen after 5 years? I mean after 5 years, 300 million olt staking reward will be distributed completely and there will be no rewards after then from the team. What is the team thinking about it? Now according to the tokenomics paper, this year will be distributed 40m olt which is even not enough to attract lots of validators because there are only 8 - 9 validators.
A: We are aware of this challenge - and our goal is to grow the ecosystem, and drive transactional volume and greater value. We see a two-pronged approach, grow the ecosystem exponentially, that will inform the token price which will also grow in tandem. Meaning, the value of investments will explode that the rewards factor - though smaller will be significant
Q: I remember I read ama with the Cygnet team. What happened to them?
A: Cygnet - is a partner still. I spoke to them earlier. One more thing that we have to do, is to shore up the retail side of our business by adding a larger sales team. Our partners at Cygnet will move their signature platform to this enhanced ecosystem.
Q: Can we expect 2023 roadmap in 1 or 2 months?
A: This is the roadmap, and we will update the website accordingly
Q: Hi, will devs launch weekly updates and news?
A: We will update as required - weekly updates sometimes just capture routine updates
Q: What are your plans to spread OLT among the crypto community and enterprise from here? Do you have any success measures you are working towards? What is your timeline to achieve these measures?
A: We will have a series of initiatives to achieve greater awareness among the community. This will include, multi-lingual channels, influencers, conferences and working with our marketing partner Token Suite
Q: I see this is an old project , what big changes will accelerate adoption of this coin ?
A: Imagine at 4 years - you are a senior citizen -😀 We are now a seasoned group, and we explore every opportunity to grow and leverage our platform. We have an Advisory group made up of well-informed investors and surrogate advisors like JR; they give us real feedback so we do not just drink our own `Kool-Aid'. This helps with perspective and strategy in finding the best way forward.
Q: What happened with this: "We have built out two active whitelabel real estate applications, One is being used in the United States by a company in South Carolina (this will be upgraded shortly) and the other is still in final production for a Canadian business development firm for the national real estate industry.
A: This is a white-label solution built with a client. We offer it as such, as one of our applications.
Q: So you will update the roadmap soon right ? for hor many years or quarters you will prepare the roadmap? For 1 year ?
A: This is a one-year update.
Q: Do you think to decrease yearly rewards from 6 to 3 for example to increase the staking period reward time from community reserve? I think it can be good if there will be fewer rewards but for more long term available
A: Not a bad idea - will think about it and discuss it with the team.
Q: What is exactly Token Suite is doing at the moment?
A: In two words - not much. We are giving them a greater focus
Q: Any communication with binance somehow ?
A: We are watching what is happening there - they are number 1 for sure, but they have had some challenges of late. Do not want to get caught up in any issues. But once all is well - for sure.
Q: There are so many new layer 1 coins in this space, how to compete with the new one?
A: They compete with us