On February 2, 2020, Dexaran, cyber security expert and Callisto Network’s Co-Founder, answered questions from the community about the CLEOS token, the Cold Staking v2, and the smart contracts insurance.
@Dexran: Hello Callisto Community.
Let’s start today’s AMA.
What are your steps in increasing CLO’s competitiveness in the world of cryptocurrency?
Well. What exactly competitiveness do you mean? I guess that the question is related to price movement.
At what price in the future from CLO?
I’m not a financial advisor. My personal expectations could be based on previous cycles. CLO’s highest recorded price was around 700sat, and its common for an altcoin to reach the ATH eventually.
When will the transition to EOS? And whether there will be?
We are currently working on cross-chain swap implementation. We have two versions: one is already announced, and the newer one will be described within the next week.
I’ve already announced that we will probably work with EOS contracts. It may take a month or so for the auditing department to start working with EOS audits.
Hi @Dexaran, your team seems to have built a good blockchain infrastructure, but it seems that use cases are difficult to come by. So what do you see as the future for the Callisto blockchain?
Honestly, I don’t see the value in being a blockchain. Callisto has no decisive advantages as “blockchain technology”. I think that we should port our core features across existing platforms and spread Callisto as a cross-chain ecosystem. Just like USDT is not a blockchain but a project that solves its main goals while it is a token of multiple chains.
So would you aim to be a cross-chain auditor? And further, expand into the insurance offers that you have discussed?
The short answer is yes.
Hello Dexaran, are you emigrating from Ethash?
For now, the answer is no.
Do you know the Minter Network project? Did you analyze it? Maybe it will be not bad to look at this algorithm and connect CLO with it.
I’ve never heard of it. I will take a look.
The work is very slow, the feeling that the time for the project is on a residual basis.
I don’t see any reason to rush. I’m in favor of evaluating of each available option and picking a better one. There are no satisfactory cross-chain swap solutions in the industry now.
Hello Dexaran! When will be listed on Binance?
As soon as we will have a spare 1-2M USD in our Treasury and enough liquidity on our current markets.
And when will it happen?
I’m not that good at predictions. Not earlier than 2020, I guess.
Joking aside, it’s not that easy to say. You can only put your effort into some idea and work on it, hoping that what you are doing will bring the desired outcome. It’s the same in any industry. You can’t know the result in advance, no matter what business you are attempting to build.
Hello Dexaran! I’m curious about the plans for cold staking CLEOS in Q3 as per the roadmap. As I understood at that time, we will be able to stake both CLO and CLEOS. How do you think that the rewards for staking CLO and CLEOS will differ?
Since CLEOS token is backed by CLO 1:1, it is possible to make it so that the reward will not differ. We aim to make it that way.
When Cold Staking v2.0 start?
This depends on testing of:
1. CSv2.
2. Possibility to implement a governance system on the EOS side.
3. Proposal #85.
No eta yet.
Hello creator. Is it possible to create an insurance background for audited smart contracts in the amount of 1,000,000 CLO … and are there many 1,000,000 for insurance ??
I think that it is possible. I believe that insurance is a good addition to our current system:
Do you think that you can leverage the existing effort that’s been put into the Callisto blockchain?
These features are open-source and proposed for ETC. It’s up to the crypto community to adopt it or not.
CLO is currently running on this protocol as well so it was inevitable at this stage.
And what value of token Callisto could be? I mean why somebody could want to buy CLO token?
There is only one reason people may want to buy CLO (or BTC, XRP, ETH, LTC, DOGE, … , MOONCOIN) – they want to sell at a higher price.
What helps them achieve this higher price? – Crypto bullish market phase. No other forces are driving the price of anything in here.
What makes one crypto asset more desired over another? – The number of people who know about this exact asset i.e., mass adoption or other mentions of projects’ tradeable symbol. Callisto is putting a valuable effort into other projects by providing them with security enhancement methods – that’s what I think is the key to adoption and promotion. Also, we have Cold Staking, Proposal System and tip bot…
You wrote that CLO performed all the misery before ETC. Is the ETC growth related to what CLO did for ETC?
All the ETC improvement proposals are described in the report for 2019:
https://medium.com/@dexaran820/callisto-network-report-for-2019-2fe002ff1d9c
There are no questions as well as more doubts about the CLO project. There is a current request. Please do delisting with Stex. Clo = $ I’m waiting for this.
STEX now requires identity verification. Some volume has already switched to Bitfinex – I think that it’s a natural process now. No need to ask for delisting.
@Dexaran Hello, do you know what exactly each of the team members is currently doing?
I’m aware of my activity, security auditing department, community & media resource managers.
Yohan is currently engaged in ecosystem maintenance, and I have compiled a todo list for us recently.
We have restricted our ongoing expenses, and there are no side projects in Callisto at the moment.
Creator … have good news for investors ??
Watch the charts. The market is moving. BTC halving is going to happen soon.
BTC is moving first. TOP10 altcoins are the next wave. The rest of the altcoins will follow then.
Callisto is as sustainable as always. We are working on what is announced, and we have our plans released – follow the news and look forward to integration with other platforms.
Is it important to have the possibility to spend CLO for something?
It’s arguable. Watch DOGE. I don’t think it has some built-in features allowing to spend it but its still a sustainable widely adopted oldschool scam coin ranked 32 by market cap.
I think that you can make some corrections. All will want buy because it will be cost much more because people which buy will be much than people who sell. I want that you make LO coin/token/or something else like a resource. Which are escaping after using, like oil or metal, or coil. And something unique service or goods which you can buy only for CLO. If you make it, I think people will look on another angle on a CLO.
> If you make it, I think people will look on another angle on a CLO.
You’re wrong.
There are plenty of projects that offer some unique features, and they are still worse than over-hyped projects that do nothing. PIVX is one of the best zero-proof coins in the market, and it is always valued less than BSV that offers nothing.
The key details are:
1. Monetary policy (give it some time to take effect).
2. Fund locking features (just like Cold Staking).
3. Adoption and mass media mentions (we are working on this).
If it still worse it doesn’t mean that it worse. All need a time. Of course what you type upper also need. And for mass adoption better than mobile friendly and safety wallet hard to make. But I type about monetary policy. But more detail, look:
You make analysis and see, for example, that you do service on 20 000 USD per month, for example.
And you tell that you one 2000 USD per month buy CLO and burn. It will be about 3 million CLO. Well, per year, you will burn 40 million CLO. Next year you plan to increase service for 20000 USD per month. And you will burn 80 million CLO for the year. People will see balance.
I got your point. It’s better to have a burning mechanism rather than don’t have them.
I tend to agree, but what is the role of “unique service” here? I guess that the proposed monetization mechanic is viable with any fund burning services. For example, if we launch a Decentralized Exchange on CLO and announce that we will use a 0.1% fee to buy &burn CLO, it will have the same effect.
There is no need to turn. Good people will take their CLO with Stex. And evil dampers will leave the rocket. Please delist from the Stex exchange will help. And for the Russian population, it is blocked. Not everyone knows how to use VPN.
Russia is scam.
You may consider staying anonymous for another 9 years.
I hope I will deanonymize myself when I move to another jurisdiction. Sooner than Binance listing.
How can CLO develop so fast … what makes it skyrocket, sir?
I do not understand what exactly the question is. Can you rephrase, please?
Proof of stake is the future of crypto! CLO, with its Cold Staking feature, is at the edge of progress! But what are your plans for making CLO one of the top on CoinMarketCap? And could you tell us about your future developments?
Unlike most crypto assets, CLO has a working product, and it is beneficial for the whole crypto industry. We have something real to offer others.
We have the security auditing department and a number of other features. We can offer security improvement services to other platforms in exchange for co-promotion & mass adoption.
Initially, it was assumed that projects that we have audited would push the adoption at some point. This proves to be wrong, and now we can apply the necessary amendments to our adoption improvement methods.
Thank you for attending this AMA guys, unfortunately, time is over.
Thank you @Dexaran for your time!
Appendix
Previous Ask Me Anything sessions with Callisto team:
Yohan Graterol’s AMA with Korean Community on 19/09/2019.
Callisto Founders Team’s Ask Me Anything on 02/06/2019.
Miscellaneous
Callisto Network introduces the Dynamic Gas Price feature.
Trust the Blockchain, Audit the Smart Contracts.
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