Typically, this would be a monthly recap of all that has happened inside your Callisto Network over the last month. But this month, we’re shaking things up a bit to bring you a larger quarterly update.
So much has been unfolding inside Callisto that we want to give a bigger and more holistic view of the changes taking place, the improvements being worked on, and the milestones we completed during the second quarter.
We feel that this approach gives Callistonians a more complete understanding of all the moving parts and how they all fit together in building a bigger, better network focused on safety, fun, and value creation for those of us who hold $CLO coin.
Let’s first dive into all that has taken place to improve Callisto, and then we’ll jump into Soy Finance and then Absolute Wallet…
Callisto Network: A Quarter of Big Moves
Transitioning to Proof of Stake
Security has always been priority #1 at Callisto Network. Now, we’re combining it with enhanced energy efficiency as the crypto industry increasingly seeks ways to reduce its carbon footprint. To that end, Callisto is transitioning to a Proof of Stake consensus protocol, a far more eco-friendly technology.
The functional difference here is that miners will no longer need to run mining rigs based on power-hungry graphics cards to solve equations and earn rewards based on who solves the mathematical riddle first. Instead, CLO owners will stake their coins and share proportionally in the rewards. Validators wanting to earn more rewards will create more nodes—requiring more $CLO—which, in turn, increases network decentralization and security.
This transition, however, requires that we create a Monetary Policy with appropriate economic incentives. That effort has two goals: fair distribution of rewards among validators and increasing both network security and decentralization.
As such, Callisto is scrapping the previous rewards system that distributed a set number of $CLO per block. Instead, the network moves to a Dynamic Monetary Policy that rewards up to a maximum amount per block but does not necessarily emit the maximum, depending on validator activity.
You can read a more in-depth take on this paradigm shift underway here.
A $150,000 Vote of Confidence
Actions speak louder than words, and the act of spending a significant amount of money says volumes about faith in a project.
To that end, Dexaran, the mononymous developer behind the Callisto Network, invested another $150,000 into the project during the quarter. He did so because of the new decentralized autonomous organization governance system Callisto brings to the network.
Callisto is creating an entirely open and transparent process for contributing to and gaining voting rights inside the DAO, which determines the blockchain’s direction. Invest your money, claim your voting rates based on the percentage of the DAO you control, and vote on the proposals you think make the most sense for improving or strengthening the network.
As Dexaran notes, governance institutions—whether national governments or DAOs—should exist singularly to serve the people. Bringing a transparent, on-chain governance architecture to the Callisto Network is a step toward achieving that ideal on a small scale. More about Dexaran’s commitment to Callisto is here. This story, by the way, was featured in CoinMarketCal, giving Callisto Network a wide exposure.
Callisto Network Goes To the Bank
Speaking of exposure, CoinTelegraph featured Callisto in another story about $CLO’s recent strategic partnership with Bitcoinmat, the leading provider of crypto-based ATM services.
As part of the partnership, $CLO is available as a coin that users can buy for cash withdrawal needs through Bitcoinmat’s ATM network in Central and Southern Europe. Not only does that make Callisto a more convenient coin for Callistonians who might want to access their wealth while traveling, but it also gives Callisto a higher profile among the world’s collection of cryptocurrencies – a fact CoinTelegraph highlighted in its story here.
As Callisto Network’s CSO, Karel Fillner told CoinMarketCap: This is “a stride forward for the entire crypto industry in bridging the gap between digital and traditional financial ecosystems.” And Callisto is a player in that effort.
Audit, Buy, Burn—Repeat
In May, Callisto Network announced a buy-and-program tied to the Callisto Network Security Department. The idea is simple: Every time Callisto Security is paid to complete an audit, we use 20% of the fee to buy $CLO and burn it.
In June alone, Callisto Security completed the first two audits under this new program. You can check out all of the transactions here (withdraw 640 USDT from Callisto Security Wallet), here (swap 240 BUSDT for 188,226.427 CLO),here (the burn!), here (swap 400 BUSDT for 311,238.082 CLO), and here (the burn!).
In all, Callisto burned nearly 500,000 $CLO coins.
The benefit to the CLO community is obvious: The more audits the Security Department completes, the more $CLO we burn, and the more the supply of $CLO shrinks, which leads to higher prices for the increasingly smaller amount of $CLO that remains.
This strategy represents our commitment to the Callisto community to actively work to improve $CLO’s value.
A New Way to Inspect the Blockchain
Callisto recently a new tool for next-level blockchain inspection.
The custom solution, built atop the Microsoft Power Platform, offers real-time data visualization, multi-chain support, and of course, the top-tier security for which the Callisto Network is known.
Among other benefits, Callisto’s Chain Inspector offers tailored solutions to individuals and companies, efficient wallet management with a user-friendly interface, and it allows users to harness state-of-the-art Artificial Intelligence to identify patterns and trends. You can read the full details here.
A New Way to Inspect Callisto!
We recently introduced a Progress Tracker so that Callistonians can tap into Callisto and know precisely what’s happening with any project and where we are in development.
The board, posted on Trello, provides a real-time look at all the tasks underway and the milestones we’ve either reached or are methodically marching toward.
We started this because we truly believe in the concept of transparency, a primary tenet on which blockchain was originally built. Here, you will find everything from website updates to major project launches and where we are in the process. Better yet, you can even share your thoughts along the way.
Talk Talk Talk…
CallisTalks is back!
In the latest episode of our video series, looking at life inside the CallistoNetwork and across the blockchain, we explore the intersection of cryptocurrency and social networks—a match made in heaven … or hell, depending on how it’s used. We specifically look at the power and influence of community-driven marketing in the crypto space.
Callisto Gaming
Blockchain gaming and entertainment is still a young and fluid space, and Callisto Network is eagerly making its mark.
First, we have Immortal Lottery, where the traditions of ancient Roman festivals meet the modern blockchain. Ancient Rome lotteries captivated those in attendance. Were those lotteries fair? Well, who knows? But Callisto’s Immortal Lottery is a provably fair game of chance with winners chosen through “true randomness.”
Immortal Lottery is built on the Callisto Enterprise Token, or $CLOE, and is a pioneering decentralized app (dApp) built on smart contracts. For each lottery round, a fee of 13% is taken, a portion of which is deposited into a staking pool. Share of those accumulated fees is distributed among the Callistonians — CLOE token stakers, the Callisto Network Security Department, and the entropy providers. The remaining 87% goes to the winner.
As its name implies, this lottery is truly immortal. Because it’s built atop smart contracts, there is no need for the game creators to maintain or interact with the game. It will be on its own for time immemorial. (The lottery is set to launch soon.)
Calisto Network has also recently teamed up with Zealy for a grand Treasure Hunt; this is now live here.
The goal is to join quests, take quizzes, and unlock various achievements to climb the leaderboard ranks. Those who finish in the top 50 will earn various prizes, including exclusive NFTs produced by the talented Czech artist Marek Ehrenberger.
Clearly, the Treasure Hunt is popular. The Tweet that launched the huge has already exceeded 1.5 million Twitter views.
SOY Finance: No Slothing Around Here
Continued Focus on $SOY Price Improvement
As part of our commitment to the long-term sustainability of $SOY, and our dedication to driving value to the token, we have undertaken a program to decrease the total supply of $SOY by 30%.
To drive that effort, we are adjusting farm multipliers across the SOY ecosystem to more accurately reflect demand and incentive usage where that usage makes the most sense.
Our strategic aim is to support the Cold Stakers and long-term holders while at the same time bolstering the stability of the SOY Finance platform. You can read more about the effort here.
Metaverse? The Slothverse is Where it’s At!
Ok, so it’s not exactly a 3D space of 3D animated sloths running around, but the Slothverse is the most secure space in decentralized finance.
The second quarter was marked by our efforts to make a secure DeFi ecosystem safer.
Starting in May, for instance, we made significant modifications to $SOY Cold Staking that we believe will enhance and strengthen the network. Specially, we changed the locking period and the multipliers earned for staking. We’ve moved away from one-week and four-week lockups, which promote a short-term mindset, and are focused exclusively on 12-, 26-, and 52-week lockups instead.
We’ve also tweaked the multiples so that 12-week lockups now have a 3.5 multiplier instead of 4. The 26-week lockup remains at a 9 multiplier. And the 52-week lockup jumps to 23.5 from the previous 21.9.
These changes encourage long-term investment, which in turn reinforces the strength of the SOY Finance ecosystem.
We also made navigating the Slothverse smoother and more intuitive. You can check it out here.
Absolute Wallet: The Absolute Best Wallet On The Blockchain
The Absolute Freedom of Transparency
Our aim has always been to make Absolute Wallet the most innovative crypto wallet, and we took another step this past quarter in making the goal a reality.
We opened up Absolute Wallet to the community, creating an open-source wallet that anyone can build upon. To achieve that, we introduced a new Software Developer Kit (SDK) that allows developers—or anyone, really—to integrate Absolute Wallet into a dApp or other software and gain instant access to one of the most practical crypto wallets.
We call this Absolute Freedom because it gives the community freedom to design features into Absolute Wallet that they believe will make a great wallet even better. To read more, or to download your SDK, click here.
Shake Your (Crypto) Money Maker
During the quarter, we also launched “Crypto Money-Makers,” a suite of tools community members can use to earn passive income while supporting their favorite crypto projects. Meanwhile, those projects can call upon these tools to reward their core community and expand their brand awareness in trying to grow their community.
The tools include airdrops and promotional campaigns; referral programs; community involvement projects; and bounty programs.
Absolute Wallet puts all of this in the hands of community members and project teams to create a symbiotic relationship that benefits both sides. Interested? Click here!
An Apple a Day Keeps the Wallet … Growing
The team is hard at work building an iOS integration that will bring Absolute Wallet to the iPhone ecosystem.
We’re still awaiting application approval from the approval tsars inside Apple. But as soon as we obtain that, iPhone users will be able to download Absolute Wallet onto their phones and benefit from one of the best wallets in crypto.
Oh, and before you go, check out our new, animated YouTube video that details what Absolute Wallet is all about.
With that, we wrap up the monthly and quarterly review of all the improvements taking shape inside Callisto Network and its family of projects.
Enjoy the rest of your summer. More updates next month.
Curious about the latest happenings at Callisto Network?
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