2022-01-27 18:51:14
Hi all, we are aware of the recent news regarding Diem selling their assets to Silvergate bank and we want to share with you our current status and plans.
We believe there is still a lot of value in the Move technology in enabling safer and more scalable smart contracts. However it seems that Meta might no longer be leading the adoption of the technology so we are exploring options on how to collaborate with those that are.
There are new players that arrived this year to build out the Move ecosystem. We plan to approach them to form a partnership to focus our expertise and experience with Move on the application layer of their networks in order to bring to market the first applications built with Move (AMM, money markets, Yield aggregator, games, etc...). Being first to market to capture the application layer value in this new ecosystem of well funded and talent equipped networks is a large market opportunity.
As part of this go-to market we would still launch our network on Kusama in order to have a place to build these applications prior to the first production Move-based network going live. We will build the tokenomics of the applications we build to accrue value to the protocol token PONT/NOX in order for supporters to capture the value we are building.
For now we are not guaranteeing our Kusama crowdloan will go live on Feb 19 as we want to have a clear strategy and roadmap to share with you all before we commit to a date to go live on Kusama.In the future Meta might still adopt tech related to Move given their time spent developing it and their connection to the teams working in the Move space founded by former FB employees, so this might still be an avenue to Meta for many projects once their crypto plans are revealed.
We appreciate you all being here with us from the beginning and we will update you with more clarity on our roadmap soon. If you have any feedback or want to chat 1-on-1 please don't hesitate to reach out.
More info regarding the sale: https://www.wsj.com/articles/facebooks-cryptocurrency-venture-to-wind-down-sell-assets-11643248799?st=ulxuxbbm1sqb0yj&reflink=article_copyURL_share
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