On July 23, 2018, Yohan Graterol, Callisto Network’s co-founder, answered questions about Callisto’s community, $CLO listings, and smart contract’s security.
QUESTIONS BEFORE AMA OFFICIAL START
I am generally a big fan of Coinomi, and I love the fact that I can also switch coins in Coinomi with Shapeshift and Changelly, so if I could also stake my coins there, that would be amazing.
It’s a good point. Coinomi is a good wallet. I don’t use it because I prefer to manage my private key, but I have used Coinomi. If I had to recommend a wallet for my parents, I would suggest Coinomi.
When we file all the documents.
As of now, the status is:
– We’re locked ? in the KYC process. I don’t understand why.
– Emily (our support agent) is asking us for our corporate documents.
– We’re incorporating a company and translating the documents (I’m in Colombia).
– I started a conversation with another business manager on HitBTC to unlock the KYC process.
This process is a challenge of patience.
But where is CLO registered as a company?
Cryptocurrency regulation doesn’t currently exist here.
When will CLO be listed on Binance ?
Binance has a high listing fee, currently >2 million.
We need to increase our market volume first.
Zcoin opened at $1, then dropped to 1/5th of that price, and then increased 100x; do you believe in CLO?
ZCash started at over $300, then dropped to $28after reaching over $500.
Will CLO reach 1£ by Dec, 2018?
I can’t predict CLO’s price, but our roadmap is on schedule.
I don’t understand the CLO roadmap, can you please clarify?
We will deploy Cold Staking after November 1st, 2018.
On August 1st, we will deploy our new website, and we will begin our marketing campaign with the new website.
We will implement a CLO block reward reduction after block 5M.
CLO’s price is down, is that investors are panicking?
– We made a mistake trying to exchange 4BTC to get listed on a new exchange.
– The BTC price increased quickly, a lot of coins fell in BTC value, recall what happened with ETC.
Why is there no CLO deposit address on Yobit?
Each exchange’s internal issues are unknown to us, but we paid 0.2 BTC last week to turn on the wallet. We are still waiting.
I posted the ticket image on Discord, which includes proof and the timestamp:
They (exchanges) have too much power and control.
Yes, centralized exchanges could be a serious problem in the future.
Yohan, one question (sorry for my English). The CLO Russian community is big (about 1k members in chat, where English chat has 5k), but you only have a marketing program for English writers. Will the CLO team open a marketing program for other languages?
Our Head of Marketing speaks Russian. You have a good point.
We see stats and the main languages are:
We don’t know every language; if you want to help us with marketing in your language, you could send me a proposal by email to [email protected]
I think the important thing, for now, is to find ways to increase trading volume!
You are right. It’s my obsession
So how long will it take? I waited nearly two months to get an answer to my question.
Between conversations and negotiations, we have been waiting for four months. I wish I could give you an exact date.
Right now, we’re in contact with a company that specializes in listing coins on exchanges. The amount of time spent trying to speak to the right people inside the exchanges is exhausting.
There are many proposals, will they all receive answers?
The majority might receive a quick response, but not all of them.
Is AMA beginning?
Not yet. But if you want, I’m always online between 7am and 9pm UTC -5
I was thinking; we don’t have a lot of resources as an ICO does.
We have the treasury fund, but we can’t sell a lot of CLO.
How about we create a private fund where interested investors can join and buy CLO directly from the treasury fund (with special pricing), with the goal being to raise enough BTC or ETH to list CLO on higher volume exchanges.
We have a financial report we can send to prospective investors.
Reactions on this idea:
- That’s a fantastic idea;
- Yes, it’s a good idea;
- I don’t think it’s a good idea, why would you sell CLO to an interested investor for the price below market value? Just sell CLO on exchanges where it is listed at market price;
- I think it’s a good idea. Thank you for your answer.
Why would you sell CLO to an interested investor below market value?
Sometimes we need to sell BTC over the order book value. If we sell high volumes and clear the order book then the market crashes.
Just sell CLO on exchanges at market price.
Sometimes we need to sell BTC over the order book value. If we sell high volumes and clear the order book then the market crashes.
You can also do a reverse Dutch auction every quarter.
Yes, an auction could work too. It’s fairer.
What’s special pricing are you considering? How much of a % difference is this from the market value?
It’s too early to say. But it would be lower than market price. If its an auction, the price could be almost the same.
Good question (about the previous question), and I have another: would it be a fixed discount for all interested parties? What is the minimum purchase?
I don’t have an answer to these questions at this time. But we could create a final plan and present it to the community and improve upon it if needed.
Selling to investors temporarily crash the price, but it will allow the project to expand, and the price should increase eventually. Of course, a falling price won’t hurt miners as the difficulty will drop as well. We need a final working listing on HitBTC. CLO will then appear on whattomine.com, and mining difficulty will rapidly increase and drive the price up.
Yes. That’s important. Every day I think about it. I love CLO, and I’m here to grow this coin
So, I think it’s a good idea. Thank you for your answer.
Thanks for your time. We will open a voting system with a smart contract for the community’s proposals and from the organization.
I think it’s fair that every community member can vote for each proposal.
Will there be manipulation of the voting results.
Maybe, yes. But not necessarily.
Is it necessary to develop a system of “one person – one vote”?
Or one address – One vote. Or height votes based on CLO supply.
I see your point; if you have a system developed, I would like to talk with you.
Ok, but you should work on it thoroughly, there are many hidden dangers.
Right. I’ll review it.
We will deploy the beta version in testnet first.
We thought out a smart contract for voting that provides user identification.
Yes, it has a lot of challenges.
Are we doing a vote for the Coinex listing?
Yes, but for now without a bounty. It requires ID verification.
Thank you man. Are you still pushing to get listed on major exchanges ASAP?
Yes. Every day.
How many tps does CLO have? (tps = transfer per second)
~15 transactions per second.
How about a buy CLO with BTC button on the web site? Or buy CLO with ETC?
We could add it to CEW, ClassicMask, and the website. I like the idea.
AMA OFFICIAL START
Before our AMA, I’ll give you some background.
Crika and Mario were our first collaborators at CLO.
We stopped working with both of them a couple of months ago.
Recently we paid a bribe to Crika to recover the Reddit community. Here the tx: 0xd1fe5daf5422b953498b0b53d5b830b1235070314a1e49c33dc59850b4999d1c
And yesterday, Pex (friend of Crika and Mario) wrote to me about a new payment for Mario. Around 150k CLO.
Additionally, If we don’t pay Mario, he threatens to create FUD around CLO.
He created FUD a few weeks ago.
You can read the conversation here:
So, I understand there are different opinions and positions from members within the community. However, I do not accept these types of threats. This is not kindergarten.
Any way to take legal action against him? Do you know his name? We could expose him; he is blackmailing us.
I will speak with a lawyer about this. If there is a lawyer here, please DM me.
Mario and Crika were old members, maybe someone knows them.
I met Pex recently.
I think its only fair to disclose this situation to avoid misunderstandings. If anyone has questions any questions, please just ask me.
Are those his Telegram or Twitter accounts? If it is defamation, I think Twitter can help, but I’m not sure. Youtube does delete videos that defame companies.
Both accounts are Telegram groups. We’re trying to take action on both groups. If you are there, the best thing to do is to leave.
Nice story… Is that reason he was fired from the team some time ago?
No. Mario was fired because we had new Telegram admins, a lot. Before that, we lost a Telegram group due to porn content.
Team problems must stay in the team, we only want to hear the good news.
Nick Sawinyh: We strive to be transparent about such issues wherever possible.
Yohan Graterol: However, it’s not a team problem; they are not members of the team.
Hi, Yohan! Just two questions! Is there an opportunity to deploy and use smart contracts in the Callisto Network? Can I create DApps already?
Of course! This week our new faucet system will be online to send FREE Test CLO. You can deploy smart contracts with Truffle or CEW.
Does MetaMask support the Callisto Network? If not, what is an alternative to MetaMask to interact with the client’s web site for Callisto Network smart contracts? Thank you!
Yes, we will make changes to ClassicMask to add better support for CLO. Currently, there is only basic support.
Hello Yohan! I have several questions for you: Are other tokens planned for Callisto’s Network? (Will it create additional support for the project, and will it be possible to show audit work? For example, ERC223?
For now, I only know of a couple of tokens planned for CLO, and I am planning a token for eSports gamers. I would like to support that industry.
What plans are there to increase the network capacity (as interest in the project grows, the network will need to grow quickly)?
I really like EOS. We can get ideas from EOS to implement Ethereum-based code.
Are there any plans to start a decentralized exchange like Radex and Etherdelta (metamask, classicmask, CEW, MEW, ERC223 will begin to work)?
Do you want to start that project? You’re welcome to implement Etherdelta for CLO and develop some ideas on how to implement a cross-chain exchange.
Are there any plans there for an atomic exchange between ETH, ETC, CLO Networks? It will promote project growth and the use of direct transactions.
This is related to answer 3. We’re focused on the Roadmap milestones for this year: cold staking and hard fork 1. I will support you if you want to implement this.
That Github has been sold to Microsoft, and leakage of your know-how of Microsoft is respectively possible.
We don’t have any plans to move to another Git service. However, I like Gitlab, it’s a good company.
Let’s talk about auditing. Do I have to buy CLO to audit my smart contract?
For now, it’s free, without the need to hold CLO. However, in the future, you must stake some CLO to receive an audit for your smart contract. We will never charge anything; when the audit is finished you will receive your CLO deposit. We will cover the cost of each auditor from the treasury fund.
For audits, can the customer remove his CLO from the smart contract at any time?
No, currently, this only occurs at the end of the audit.
Ok thank you for the answer. Are audits for contracts with higher amounts of CLO given priority?
Yes, but the cost depends on the size of the audit.
Hello, I know you’ve been asked many times about HitBTC, but are you optimistic about the progress? I know you mentioned KYC issues, but are you on track for incorporating CLO as a company?
We need to be optimistic. Our ONLY remaining dependency is to finish the KYC process successfully.
It doesn’t matter how we need to get listed on HitBTC soon.
Ok, you’ve invested in that, so hopefully, it gets done, thanks.
The money is secondary, the main goal is to get more market for our coin.
Small exchanges are killing the price of CLO.
It’s not a question, but I think that a small volume affects any asset’s pricing. You’re right. The low volume is only temporary.
I would be interested in marketing updates.
It will be posted on our blog soon.
August 1st, 2018 is our deadline to:
– Launch the new website;
– Post the marketing updates/plan.
If staking is implemented, would that support the price with low volume?
No, check it this paper co-created by Dexaran:
Question about cold staking: when concluding a smart contract, it can’t be canceled until a certain number of blocks?
No, but maybe that could change. The idea with cold staking is to finish all processes by the latest block.
Thanks for the answers, the project is worthwhile, and I hope the team succeeds!
With your help, we will be successful. We are doing 50% of the job. The community is doing the rest.
I will do some outdoor marketing in Bucharest, Romania.
We could support your initiative, please DM me.
Is Dexaran still in the project?
Of course, he is 100%. But unfortunately, last month he had some health issues. Right now the team is supporting him while he recovers.
Is he sick?
Due to privacy concerns, we cannot disclose it.
Maybe we can help him?
Any help is welcome. You could help with your social networks, your skills, etc.
OK, I hope Dexaran fully recovers ASAP.
Yes. He will return full of energy.
When will CLO be listed other exchanges?
We have an offer from Sistemkoin. We have an open ticket with Yobit maintenance.
Will CLO be listed on Bittrex or Binance?
We will try again with Bittrex. Regarding Binance, we don’t have enough funds to get listed there. Tthe fee is >2 million Dollars.
Why was Turkey chosen for the next listing? (Sistemkoin). Is there a reason for this?
It’s a good market like India and Indonesia.
@Darwino is working hard with Indodax for Indonesia.
It’s the bridge between the east and west. Excellent idea. Look at some of their crypto projects…
Yes, our current team has people from:
– South America
– North America
I’m really happy with my team.
Turkey would be good
After last year’s large number of ICO scams, are the exchanges interested in projects like yours, or do they only think about money?
Well, ICO scams have a lot of money to pay listing fees, a lot of exchanges are only concerned with receiving that money.
Our project has not an ICO. We need to get listed on each exchange out of our pockets and part of our treasury funds.
Can we have a meeting with the community in a place like Bangkok, Thailand?
Of course, I am happy with events like these.
We have a big crypto community in Thailand, we can help organize this event. With whom can we talk about this?
Darwino: I suggest we build a group Telegram for Thai-speakers, if there is a demand for it, we can create an official group on Callisto.
At what block number will rewards be reduced?
32% reduction each 5 million blocks.
How much CLO per month total goes to the development team?
Right now, 20%.
After the first hard fork, 10%.
20% of all mined coins??
Yes. Until November.
It’s not only for the development team. We support external proposals, and we pay for auditors from the treasury fund.
“32% reduction each 5 million blocks”: How much of the award will be given to the miners/developers? Or when will this be determined, and in what proportion?
70% miners, 20% stakers, 10% devs (maybe less)
At least you have a team on the project, unlike most others. I think this is one of the main reasons CLO will be a good investment.
Thanks, we’re looking Rust Developers and Python/Go Developers.
What incentives are there for dApp developers to build on CLO vs ETH vs ETC vs EOS vs ADA vs…
We have a weakness there, currently. We need to get the dApps developers with tools.
Faucet, ClassicMask 100% integrated, CEW, Audit system, and a better explorer.
What is involved with auditing? I’m a dev on REDN. I’d love to help audit but not sure what it entails.
If you are a developer, you can learn from our audit master.
However, if you are developer, we could give you another project too.
How many people request smart contract revisions from the Callisto team up until now?
Around ten people in the first stage, after august 1st, we will promote it with ads.
Yohan, are you from the US?
How many auditors on the CLO team now?
I respect the man for working his ass off and still making it out on top.
That’s true. I think that everyone here is making the future of crypto world.
Like I told many people. Contracts need to be audited.
Of course, we want to prevent simple cases like Parity multi sig wallet; a lot of money was lost. https://medium.com/chain-cloud-company-blog/parity-multisig-hack-again-b46771eaa838
Thank you very much Yohan @yograterol. We will see you on the next AMA. We would like to finish for today!
Thanks to everyone! You can write to me anytime, I’m here always for you.
Previous Ask Me Anything sessions with Callisto team:
Trust the Blockchain, Audit the Smart Contracts.
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