How to Stake CLO

Cold staking is a protocol that rewards long-term coin holders for staking their Callisto coins.
Blog

Callisto Korean Community AMA with Yohan Graterol 19/09/2019

Callisto Korean Community AMA with Yohan Graterol 19/09/2019

On 19 September 2019, Yohan Graterol, co-founder of Callisto Network, answered questions from the Korean community during an AMA session held on Kakao Talk.

Q: Hi Callisto! I buy first token on stex exchange, coming Korean exchange?

About Korean Exchange, yes, it’s part of the plan, Korea is a key country for crypto in the world, it’s not really easy to enter there by the language, however we have started some conversation and we’re trying a listing, if someone has better contacts with Korean exchanges (big or small) please write me, any helping is welcome.

Q: Callisto first started with Yohan and Dexaran as co-CEOs. Soon after, Dexaran officially quit the CEO, causing Callisto prices to plummet. Although Yohan is leading the company well, many people believe and invest in Dexaran. Can Dexaran formally change the co-CEO with Yohan? If that happens, I think the price will go up sharply.

About Dexaran as co-CEO, I could talk it with him, I guess he could be opened to the idea. At the moment when we started he was really sick and for him was a bit impossible lead the project, right now it could be possible.

Q: Callisto promotion is only done in our community. It must be done also in other coin community. Callisto have conducted a number of coin security audits so far, but they have not been publicized in their community. As a condition of security audit, it is necessary to be able to get publicity effect from their community. Callisto promotion is only done in our community. It must be done in a different coin community.

About free audit and promotion, yes, we hope at the beginning a better reception from other communities, however, we received the common human reaction when someone shows you that something is wrong, and a lot of community didn’t receive well the auditing results. Right now we decided to tweets everyday tagging the community of the project audited to spread the Callisto word by Twitter, it’s a starting.

Q: I remember the Coinomi event. Eventually, That was stopped because of legal issues, but then thousands of people joined our community. And the price of Callisto rose. Events like joining other communities may be effective. What do you think?

About Coinomi contest, yes, they wrote us asking us to stop the contest, we didn’t have options. I understood them, legal stuffs are legal stuffs, we will not conduct illegal actions with the project and it requires that any collaboration be made correctly complying all laws.

Now, we have a coming contest with a big community soon.

Q: Actually I turn off my GPUs yesterday because CLO price is too low now. How do you see for the future of CLO?

Oh 🙁

I sad reading about to lose you as miner but I understood, it’s business. So, I see the future of CLO in two parts:

– Community part probably handled by Dexaran

– Business part handled by me.

I’m setting up the right environment to create businesses (initially by us) using Callisto, we must take the initiative and give to the project new uses cases. It’s my north right now.

Q: Increasing Callisto’s usage rate requires a lot of Dapps to be made. I thought that Alejo would build on Callisto when he made a betting site. Yohan seems to have said that the first dapp is likely to occur. Alejo, however, created a betting site based on Tron. Why? Even Callisto employees have proven that Callisto is not suitable for games or betting. The most used dapps are games and casinos. what do you plan to expand dapps in the future?

Alejo is implementing CLO, their team is not so big, the project is really ambitious and I know the different steps of that project. I can’t reveal a lot but I could confirm you that their dApps will use CLO not only for betting. Alejo loves CLO, he is working free right now, like me, while the price is so low.

About dApps, the answer is similar to my latest answer.

Q: I can withstand price drops in the medium to long term. However, I can’t stand the anxiety that Callisto will eventually be gone because lack of the minimum amount of money to run. Is there a guaranteed solution to address investor anxiety?

With Dexaran we’re careful with the expenses from this month, we stopped free audits (only accepting big projects and paid audits), we reduced some salaries and the main goal in short term is keeping up the project.

We have the team to achieve it.

Q: What is the minimum cost for Callisto to operate? How long can Callisto run when market conditions are bad and prices drop or stay?

In the worst case, there is a way to change to EOS tokens. I hope this doesn’t come, but do you have a plan for the worst?

The minimum cost to operate are $3,500-4,000 USD per month. By servers, services. With the current price, we could cover it.

About the worst case, yes, change the model to a token or migrate to a EOS fork could be an option, we have plan since some weeks ago, but it not in active development. It’s the plan Z, we’re not there and I hope don’t be there. Altseason is coming and we hope get enough funds there for the future of CLO.

Q: CLO is not a major coin. Any company and any nation can issue their own Crypto currency, why do we need CLO ?

Anyone could do it, and it’s part of the ecosystem. I like it. More crypto users. About why do we need CLO? Cryptocurrencies ecosystem is handling a big amount of money and with more actors coming we will see more hacking by lack of security from developers, so, there we will always be to help them, it’s one why… almost the whole cryptocurrencies projects are bad set, including us in a start, any crypto project must be accompanied by a business model.

We did the mistake of only work in the technical side, and I’m fixing it now.

Q: I heard that Callisto can convert to another coin. If it was implemented, it is likely to be delisted on the exchange. What if you create an option to convert the interest of cold stakes into a new coin or another coin?

Yes, to have a bridge with another chains 1:1, 1 CLO NATIVE to 1 CLO in a token in the another chain. No exchanges should delist us by it, unlikely, we could get new listing of new DEX.  About the interest it could be interesting, it requires a HF to set up the functions required in Cold Staking Smart contract to do it.

Good Idea.

Q: Is there a possibility to list Binance?

Yes, but it doesn’t depend only of us. We have possibility, yes.

Q: For a Crypto Currency to be profitable, CLO have to be useful in actual human life. HOW LONG do you thing we need to wait Crypto currency to be major technology for cyber monetary transactions or other industries?

A bit hard to predict, this is like the cash or credit card adoption, however right now the internet and cheap mobile devices could speed up the crypto adoption.

There two big issues;

– Fear from some countries of don’t have the control over crypto.

– Lack of regulation to access to crypto easily.

We must fight versus these things. However The crypto adoption is growing so fast, comparing with credit card or cash money, we must deliver more products.

Personally I believe that the youngest people will cryptocurrency in a worldwide standard, I hope be part of it.

I hope haven’t missed some question. It’s my first time with KakaoTalk, it’s really interesting how Asia handle the technology creating apps and devices only for some countries. I used Line a lot, am I an old guy?

Kakao already dominated!!!!

Good to know.

I will use Kokoa instead, I want Korean friends. I have a lot of friends (girls in majority) lovers of K-Pop.

Line also made by korea, but korean do not use.

Interesting, well, Korea is the dream of a lot of people in western. I hope visit Korea soonish.

When you come please contact me. I hope to see you soon 😊

Q: Funny question but do you invest other coins?  If so, which other coin will you invest in?

Yes, in the Past I invested in ETC, Decred, ETH (I mined it). Right now I only have BTC, CLO, TRX and a bit of ETH, XMR.

Right now, I believe in ZCash, Decred, Monero (I like so much this project, I’m looking the way to integrate with CLO), CLO obviously and EOS.

Q:  Wallet best for coldstake? Same reward for all wallet?

Coinomi or Guarda, the reward is the same.

Q: Thank you for your honest answer.  The future of Callisto is expected. Please don’t give up even though it’s hard.

Thank you for your support, the path has been a bit hard but it will not defeat us. Our life is crypto!

Topics: