Welcome to your latest issue of Callisto Monthly, a look at what has been happening recently inside Callisto Network. As we approach 2024, the biggest event on the horizon in crypto is Bitcoin’s upcoming fourth halving, likely to occur in April. That event highlights one of the biggest challenges the Callisto team sees regarding the direction that crypto takes from here: Decentralization.
Modern blockchain platforms have compromised decentralization for scalability and performance. Two prime examples: BNB Chain’s centralization and Ethereum’s staking pools. Both are emblematic of this shift away from the core tenet of decentralization that Satoshi Nakamoto established when he unleashed the promise of blockchain onto the world.
Here at Callisto Network, we hold true to Satoshi’s vision, even as much of the rest of the crypto world migrates away. To that end, we have released a blueprint that discusses the need for a genuinely decentralized platform.
Our concern is that the current economic environment—extreme government debts, global inflation, massive money printing, fallible government mandarins in charge of monetary systems—is precisely what Satoshi foresaw and why he launched Bitcoin with the foundational block noting the fiscal failures of the British finance ministry during the 2007 Global Financial Crisis.
So we’ll start this month’s newsletter with…
A Brief Outline of the Blueprint
We’ve built this blueprint around seven axes that should foresee the cryptosphere recommitting itself to the core values that made blockchain technology revolutionary.
- Adherence to core values: The shift from decentralization to centralization is fundamentally at odds with crypto’s foundational principles. Centralized control can lead to a lack of transparency, increased manipulations, and potential biases in decision-making. Callisto Network maintains a commitment to decentralization, unlike too many other platforms today.
- Promote integrity, fairness, and innovation: Concentration of staking power promotes centralized control, potentially leading to unequal influence and decision-making power, thereby challenging the democratic ethos of blockchain technology. Callisto Network actively works to lower barriers to entry and ensures a stake-weighted mechanism, reflecting our commitment to true decentralization.
- Community empowerment: Callisto Network was born decentralized. Instead of launching with an ICO or pre-mined coins, Callisto relied on an organic approach: distributing 110,000,000 CLO coins in an airdrop to the Ethereum Classic community, an approach that allowed Callisto Network to grow through the support of its community. Today, the Callisto Network Treasury received 10% of every block minted to fund community proposals. Soon, we will roll out the Callisto Network DAO, and the community will gain complete control over the Treasury.
- A firm commitment to security: While scalability and speed are the end goal of so many blockchains these days, the fact remains that decentralization should take precedence if crypto is to maintain its primary purpose of democratizing money and providing humanity with safety and security away from government intervention. Callisto Network is leveraging its experience to drive blockchain adoption through security through Soulbound tokens and innovative token standards such as ERC-223, which corrects the vulnerabilities in the older ERC20, and the Callisto NFT standard that enhances NFT safety and usability.
- Innovative scalability emphasizing security: Callisto Network recognizes that crypto’s primary use cases require scalable solutions. However, the industry must remain committed to decentralization and security. The Callisto Research department is built on a fundamental commitment to decentralization, with security as its primary goal. We are migrating to an innovative Proof of Stake protocol that embodies genuine decentralization, inclusive participation, and a transparent treasury.
- A Self-Funded, autonomous, and self-sustaining blockchain ecosystem: Callisto Enterprise’s role is to guide Callisto Network toward a self-funded, autonomous, and self-sustaining ecosystem. In doing so, Callisto aims to preserve decentralization through strategic projects, infrastructure development, collaboration initiatives, and a unique funding program.
- A Call for Decentralization: In a time marked by significant global shifts in wealth distribution and economic paradigms, Callisto Network aligns its decentralized model with emerging societal needs. By addressing inflation concerns, fostering strong communities, and engaging with global trends, Callisto Enterprise manifests a vision for a more inclusive future.
Welcoming a New CTO
As Callisto marches into a bright future, we are happy and excited to have announced that, effective November 1, Yuriy Kharytoshyn has stepped into the role of Callisto’s new Chief Technology Officer. He replaces Dexaran, our esteemed founder and the former CTO.
Dexaran isn’t going anywhere, and his vision continues to guide us. He’s just stepping aside to handle other projects.
Yuriy’s appointment marks the start of a new era for Callisto. He brings profound technical expertise and strong dedication to the network. His directive is to drive Callisto’s technological advancements.
The Three Musketeers Speak!
Late last month, Tonto, Vladimir, and Dr. Zs gathered for Callisto’s latest AMA.
The topics range from smart contract audits and the Callisto Network DAO to our long-term plans as a team and the concept of decentralized marketing.
You can find it archived here if you want to go back and listen to the AMA.
Burn, Baby, Burn!
Callisto Enterprise has introduced the new Callisto Burning Statistics age, where the community can see real-time and detailed burn data for $CLO coins. The data is presented in terms of $CLO burned per block, hour, and day.
So, if you have ever wondered about the $CLO burning rate and its impact on supply, you can now find that data here.
And if you want to know now, well, 3,174,872 $CLO coins have been permanently removed from the circulating supply.
Speaking of burning…
Another $CLO Buy Back & Burn Is Done!
Last month, Callisto Security completed another three smart-contract security audits, and as part of that, we allocated 20% of the revenues to our $CLO Buy Back & Burn program.
Those burns occurred in two transactions:
- #1: Purchased 281,888 CLO for 200 USDT. And you can see the burn transaction here.
- #2: Purchased 925,340 $CLO for 720 USD. And that burn transaction is here.
Our process of buying and burning $CLO coins, we feel, shows that Callisto Enterprise is directly tying the success of Callisto Security audit services to the value of $CLO—a move that reaffirms our commitment to the community by way of enhancing $ CLO’s growth.
And finally, this month:
The Staking Era’s Latest Opportunity
We’re delighted to share a remarkable article from a talented community member who was awarded a whopping 150,000 $CLO for his contribution.
The article plays off of Einstein’s famous quote: Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”
In the article, our own Callistonian notes that Callisto’s Cold Staking mechanism is an “innovative approach [that] avoids the need to validate transactions or create new blocks and focuses on the principle of HODLing and complexity-free rewards.” Callistonian also notes that Cold Staking offers “an enticing 8% APY,” and that “With the bull run slowly gaining momentum and smaller caps becoming prime candidates for investor interest, Callisto Network presents a convergence of favorable circumstances. The combined power of Cold Staking with high APY, the protocol transition, can be harnessed in a market rich in potential.”
You can read the full article here.
With that, we wrap up our monthly review of all the improvements taking shape inside Callisto Network.
And with the holidays fast approaching, we want to be the first to tell you Happy Holidays.