AMA on Twitter 12.02.2024
Welcomes🔗︎
Hello everyone and welcome to the first Community AMA of 2024 on Twitter space. This is Claire. And today we also have the founder of Stratos, joining us today again. So as usual, you're always encouraged and welcome to get on the speaker line, ask any questions that you have related to the Stratos development, the Stratos community and ecosystem. But before that, I think I would like to invite Bin to give us a little bit of insights on what's happening right now and what the team has been working on. Hello Bin.
Updates🔗︎
Hi Claire, thank you. Since we're all part of this community, I feel right at home. Let's kick off our AMA. First, let's provide you all with some updates from the technical side.
Version "Twelve"🔗︎
Currently, the team is putting in a tremendous effort on our major release, which we've internally dubbed "version twelve." This version is nearly complete, and we're in the midst of testing it rigorously. Our plan is to conduct tests on version twelve within our Mesos, akin to the last test version prior to Mainnet. We aim to deploy the new version on Mesos in early March and let it run for a while. Assuming everything goes smoothly, we'll then commence deployment of version twelve at Mainnet.
Share2Earn🔗︎
There's a plethora of exciting features packed into version twelve, and I'll share a few examples. Firstly, there's "share to earn." I've talked about this concept for quite some time now. Essentially, it means that currently, only miners can earn the $STOS token when they contribute their servers. However, with "share to earn," if anyone uploads content such as games, videos, or audio, and if that content attracts a significant number of downloads or plays, thereby generating traffic, they'll be eligible to earn rewards.
The content owner will receive these tokens every ten minutes, as well. This means their traffic will undergo proof of traffic consensus every ten minutes, and they will receive rewards accordingly. So, later on, it won't just be miners who benefit; good content producers can also mine these tokens by the minute. That's significant.
Our aim is to use this feature to attract more people to participate in the Stratos network. We're not just providing storage; we're not just offering efficient decentralized storage. We also aim to become a high-quality content center or network where people can deliver their excellent content to the world via Stratos. That's one aspect.
Volume Reporting🔗︎
The second aspect is that we'll continue to improve our volume reporting, meaning the proof of traffic consensus. The new volume report will be included in version twelve as well. This enhancement is more for miners, so the volume report performance will be even better than before.
Smart contract for prepay🔗︎
The third aspect is also substantial. We're starting to support smart contracts for prepayment. Okay, what does that mean? It means that when smart contracts support prepayment, Stratos will begin to support storage and cross-chain functionalities.
For instance, when we collaborate with Polygon or later with other chains, users won't even need to possess $STOS. They can directly use Matic or their native tokens to pay for $STOS, ozone, and the DEX. Cooperation between different chains and Stratos will seamlessly allow for this. So, even if someone doesn't know, "What's $STOS?" they can still make payments.
Native DEX🔗︎
Additionally, we can launch the DEX on the Stratos chain. Therefore, if users have Ethereum or Solana, or if we support any other chain, they can directly interact with Stratos. This feature is crucial because we want to eliminate any barriers for communities to use Stratos storage. They simply need to consume their own tokens to utilize Stratos. This is the third feature we will deliver.
IBC Integration🔗︎
The fourth one addresses a common question: when will IBC be ready? It will be ready with this version as well. So, when we launch IBC, we will officially connect to all participants in the Cosmos ecosystem.
So, when the IBC protocol is ready on the Stratos chain, people will not only be able to use the Uniswap DEX, but they can also utilize any Cosmos DEX to trade Stratos tokens. These are the four major features for the new version, which we'll likely deploy on the Mesos Testnet in early March. Then, once everything checks out, we'll begin launching it on Mainnet.
Additionally, we have numerous other small changes and features aimed at improving the performance of the Stratos decentralized network.
Partnerships🔗︎
Now, moving on to partnerships. Recently, we've been actively engaging with various partners, including public chains and entities in the metaverse, AI, or GameFi space. We're striving to connect with as many project teams as possible.
Most of these projects require storage, and lately, we've also started discussing data availability. When their validators need to roll up or process data, they need to locate the data they're processing. Stratos can effectively provide data availability for them.
Due to our multiple replications on the chain, each copy of the data is situated in a different geographical area. Currently, we have at least five copies spanning across North America, Asia, and Europe. As our network expands with more nodes, we can further increase the replication numbers. This setup ensures that regardless of the validators' locations, they can always find the nearest copy, which is crucial.
Even more importantly, when we provide these replications globally, we enable validators to verify that each copy is identical. They can trace these copies to ensure they are original and unaltered. This ability prevents tampering or the addition of fraudulent transactions, as validators can easily verify the hash code on the Stratos chain.
We're emphasizing this narrative because it's not only crucial for the Ethereum ecosystem, including L1, L2, and potential L3 solutions, but also for improving efficiency and reducing gas prices. These are areas where we believe we can provide valuable assistance.
We've also continued our collaboration with our third-party partner, Lighthouse. Previously, I hadn't disclosed their name, but they're known as Lighthouse, and they're a great team. We've completed the frontend development, and now the Lighthouse team is working on integration. They've provided valuable suggestions regarding SDS, recommending the addition of RPC APIs. So far, everything is progressing smoothly, and we're continuing to focus on integration. Once this phase is complete, we'll likely release the test version of the decentralized Dropbox soon.
Additionally, we're persistently engaged with AI projects, striving to demonstrate our unique value proposition to them. We aim to illustrate why they should consider Stratos and how it can enhance the decentralization, efficiency, and security of their projects. This is our ongoing effort on the partnership and ecosystem side.
Listings🔗︎
Moreover, we're dedicated to enhancing our listings. Currently, our priority is to boost liquidity and deepen our pool, making it easier for people to purchase or trade Stratos tokens. This focus reflects our commitment to improving accessibility and usability for our community.
Yeah, this year, it's challenging to predict when we'll be able to get $STOS listed on some of the top exchanges—not necessarily the number one exchange, but certainly within the top ten. We're making efforts in that direction, but it's difficult for me to provide a precise estimation of when and which exchanges we'll be targeting. However, we're determined to make progress in this regard, and I'm hopeful that it could happen in 2024.
So, that's the major update for now. I'd like to open the floor to the community. I know there are probably many questions, and I'm here to address them.
Futures🔗︎
Someone was saying something about futures on GateIO so you can start doing shorts or longs with leverage. Is that something you're looking into?
Yeah, I actually saw someone mention that in our community channels yesterday. To be honest, I'm not sure if future trading is beneficial for communities or not. I'm not an expert in trading strategies, but we're in communication with GateIO. If they're interested in listing us on their futures trading platform, I'm open to that. However, if they require payment for it and an application process, I'd prefer to wait. It seems riskier to me. When you're trading futures, there's potential for manipulation.
Again, I'm not an expert in this area, but I'm more concerned about ensuring that people who hold or stake $STOS can easily purchase or trade it. As for trading in the futures market, I'm unsure about its benefits. However, if the opportunity arises to list on a larger exchange in the future, one bigger than GateIO, I'd be open to considering it. For instance, if they offer a package where you can trade spot or futures, that's something I'd consider. I'll definitely keep this in mind, and if there's a chance to engage with a new, larger exchange, I'll explore the possibility of including it in our offerings.
Exposure🔗︎
Thank you, Bin. There's something else as well as a person that's not very technical, I know a bit about crypto, but I mean I'm not technical and stuff like that. What I'm saying is when do you think we're going to start on-boarding people, a lot of people. Do you understand? When are people going to start thinking, oh yeah, I need to use Stratos because I've noticed we're not in all the sectors of DePIN and I think we're missing out. I've noticed in many charts we're not there. I think we need to be more vocal about being in the DePIN sector.
If I understand correctly, you're referring to the current situation where mainly miners participate in the Stratos network by providing storage nodes, staking, and facilitating file uploads and downloads to generate traffic. However, when you mention that people can participate, you mean that individuals without their own nodes can still upload and download files. Is that what you're asking?
Yeah, I just mean like where people are going to be using it, where we're going to get more eyes on the project.
Yeah, I see what you mean. Essentially, with the decentralized Dropbox, once the dApp is ready, I want to encourage more people to give it a try.
If someone has a funny video or some interesting content they want to share with others, they can simply use the app directly through their web browsers. You can upload, download, or share content with anyone, making it accessible to all users.
One particularly exciting aspect is the share to earn feature. Once it's ready, we'd like to conduct some case studies. For example, if you upload compelling content that attracts a lot of attention, it could generate significant traffic, leading to potential earnings. We want to demonstrate that creating content and sharing it on Stratos' decentralized storage can be financially rewarding.
While sharing content on platforms like YouTube or Twitter might earn you revenue based on impressions, uploading it to Stratos and generating organic traffic could also earn you $STOS tokens. It's all about providing incentives for users to engage with and contribute to the platform.
Also, the entire reward processing is completely transparent. You can easily track each volume report, which clearly outlines the traffic and how it translates into rewards. With each volume report, you can see exactly what you should earn.
This transparency stands in stark contrast to centralized platforms like YouTube, where the reward structure is often a mystery, hidden behind a black box.
We believe in full disclosure and transparency, showing you the entire process so that everyone can verify it for themselves if they're interested. This approach is designed to appeal to non-technical individuals and non-miners, allowing them to actively engage with the platform.
And to participate, they'll need STOS tokens for now. We hope that by offering such transparency and accessibility, we'll attract more people to join our community and help it grow. This is just the beginning, and moving forward, we'll be exploring ways to expand our reach in the market, ensuring that more and more people are aware of the dApps we're building and the opportunities they present.
Everyone is welcome to use our platform. For those who aren't satisfied with Google Drive or Dropbox and prefer to have control over their content without censorship or the risk of their accounts or content being deleted by centralized companies, Stratos offers a viable alternative.
By holding STOS tokens, users become the rightful owners of their content indefinitely. They have full management permissions over their own files, ensuring that their data remains secure and under their control. Remember, if it's not your key, it's not your content. Thank you for your support, and we're committed to making this a reality very soon.
Educational Videos🔗︎
There's another thing as well. Have you got like a video editing team? Can you not go onto YouTube and maybe start giving video tutorials about what's coming or what's happening? For people like me, that will understand a lot easier. And for the new crypto people, when they say Stratos, they want to see what's happening with this project, see a visual and see explaining. Oh yeah, Stratos does this, Stratos does that. A bit of explanation.
Yeah, you're absolutely right. "Understanding Crypto" has been a valuable and active member of our community. His recent educational videos on YouTube have been fantastic, providing valuable insights for everyone. Looking ahead, once the decentralized Dropbox is ready, we can explore creating new videos to educate people on how to use it step by step.
Platforms like YouTube can be excellent tools for showcasing the functionality of the decentralized Dropbox and explaining why it's beneficial to use. By demonstrating its features and highlighting the benefits, we can encourage more people to embrace decentralized solutions and experience the advantages firsthand. This is definitely something we can work on in the near future.
Monthly AMAs🔗︎
That's perfect. Here's something else as well. Can we say consistent every month for AMa? Because when new holders come in the bull market, this is what they like. They like to see what's happening. They like to listen to the questions and talk because we're not in the full bull market yet. But when we are, there's going to be people wanting to listen to what's happening.
Absolutely, I'm on board with that. Monthly updates sound like a great plan. And if there are any significant developments or if the community has a lot of questions, we can certainly increase the frequency of our communications. I'm completely comfortable with that.
As you know, transparency is key for me when it comes to engaging with our community. I'm committed to providing clear and honest updates, without adding any fluff. So, yes, I'm totally on board with this approach.
Price Movement🔗︎
Perfect. Listen, there's another thing I want to ask you because it's just playing on my mind because I know you're very transparent. There's only one more question I need to ask. When we're at zero point 72, and we were ranging between a certain part and we couldn't get high above zero point 85 or zero point 82 or whatever it was the person kept selling off, I bought about 30 k's worth of token. I'm wondering, how can someone sell off that many tokens? I'm just wondering, is it the team or not? Because I know you're transparent. It's just one question on my mind that I wanted to ask.
Yeah, sorry, it's not us. So I have no idea. Perhaps it's an early investor or someone who bought in at a low point, maybe around the 50-cent mark, and decided to sell to capitalize on their investment. Or it could be anyone, really—I'm not entirely sure. It's not something the team has been involved in or orchestrated. So it's difficult for me to provide a definitive answer.
Sometimes, even a year or two ago, during the summer, some individuals were selling for less than $0.20. But ultimately, trading doesn't require permission from anyone, and people are free to make their own decisions. They might sell because they need the money or for other personal reasons. We understand that.
We've been working hard, but we don't aim to control or manage the price. That's not something we've ever done or intend to do.
Stratos in 6 months🔗︎
I'm very happy with the project. I'm very happy the way it's moving. Where can you see us in six months time? Can you see us on an exchange? On a big exchange. Can you see us? Where can you see us? Do you think we'll have 10% more holders? Where can you see us in six months time, please?
Yes, exactly. Over the next six months, we anticipate having more leverage from the product side. We're rolling out features that users can directly utilize, such as the share to earn functionality, which is designed to attract content producers to our network. Additionally, our participation in the Cosmos ecosystem allows people to trade $STOS tokens on Cosmos SD decks. We're also partnering with numerous AI projects, which are starting to use Stratos storage and generate more traffic. Looking ahead, after this version, we plan to focus on the computing component of Stratos. These are all exciting developments that will strengthen our community and enhance Stratos' performance over the next six months.
As for the broader market outlook, while some speculate about the timing of the bull market—whether it's in 2024 or 2025—we're focused on making ourselves stronger and more resilient regardless of when it arrives. It's crucial to prepare ourselves now so that we're ready to capitalize on opportunities whenever they arise.
Frontend Development🔗︎
I got some questions because on the website there's a lot of information. However, I think personally, Stratos is lacking a little bit of front end. Like the backend obviously, is really amazing. You've already showed some examples. However, the front end, I think investors will need to see more of what Stratos actually does. You already mentioned about the Dropbox system that's coming and the wallet app you have. But can you also make something on a browser like AWS has or MongoDB, like those type of products?
We only have a wallet which need to be downloaded and downloading stuff from the Internet, especially in crypto, is not recommended. So maybe in browser it just welcomes more people. Also staking on the site. Make it easier to stake your $STOS by connecting to the website or anything like that.
That's a great question. Currently, we're focused on developing the CDN layers, and as we delve into this, we're considering various scenarios. For instance, when you watch YouTube, you're not the one paying for the traffic—the business behind the content does. However, with Stratos Wallet, users would be responsible for paying for the traffic, albeit in small amounts. This payment would occur when users watch videos, listen to music, or download content they enjoy.
Regarding your inquiry about potential business logic behind this model, it's definitely something we're exploring. We're considering whether it's feasible to create a light version of Stratos Wallet or even develop it as a browser plugin. While this may not be a high priority at the moment, it could become crucial in the future, especially if we want to attract more non-technical users to participate. Your suggestion is valuable, and it's something we'll keep in mind as we continue to evolve and expand our platform.
Absolutely, security is paramount, and we always prioritize keeping everyone's assets safe. We wouldn't want anyone's assets to be at risk due to using an unsafe plugin. It's crucial to strike a balance between security and ease of use. Your suggestion is indeed a fantastic approach to making participation easier for users. They wouldn't even need to fill their wallet initially—they could simply set a password or use a secure method to access their wallet when they refresh their browsers.
I'll need to discuss this further with the team and explore the feasibility of implementing such a solution. Your ideas are valuable, especially as we're looking into potential partnerships for streaming content. Finding a way to allow partners to stream content without requiring them to install the wallet presents its own set of challenges, and your suggestion could very well be the solution we're looking for. Thank you for your input—I'll definitely consider it as we continue to develop and refine our platform.
That's precisely why the team is currently focused on developing the CDN layer. When it comes to streaming videos and audios, it's inefficient for us to download the content each time someone wants to watch it. Instead, we're implementing a system where we aggregate requests and store the content in the CDN layer. This way, if multiple people want to watch the same video, it's already available for them to access without the need for multiple downloads.
As for who will cover the costs associated with hosting this content, that's where the business layer comes into play. The entity or individual who created the content will be responsible for covering the expenses. However, as more people view the content, there's also the potential for earnings. This could come from sources such as advertisements or information dissemination, where the content creator stands to benefit from increased viewership.
In essence, the CDN layer serves as an efficient and cost-effective solution for streaming content, while the business logic behind it ensures that the costs are covered and potentially leads to additional revenue streams for content creators. We're dedicated to refining this system to make it as seamless and beneficial as possible for all parties involved.
Indeed, the CDN layer is geared towards collaborating with larger business enterprises that require decentralized storage or a decentralized Video Delivery Network (VDN) to support their operations. We're actively preparing to meet the needs of these enterprises and provide them with the decentralized infrastructure they require to enhance their businesses. Our goal is to offer a robust and reliable solution that meets the demands of enterprise-level clients while leveraging the benefits of decentralized technology. We're committed to delivering a seamless and effective platform that empowers businesses to thrive in the digital landscape.
Yeah, sounds amazing. Sounds amazing. I think decentralized storage really is the future and especially what you guys are building. So good job. Good job. Thank you for your time.
AI🔗︎
Thank you, everyone. Before we delve into any other questions, I'd like to share some ideas and concepts with our community, particularly concerning AI. AI, especially OpenAI's Chat GPT, has been gaining considerable traction lately. Many influential individuals are excited about its potential. However, there's another side to this story.
Consider the rise of Chat GPT and its integration into various sectors such as journalism, marketing, and more. Previously, most online content, whether videos, articles, or news, was authored by people, albeit with a fair share of copy-pasting. But now, with the widespread adoption of Chat GPT, the creation process has shifted. Many individuals simply provide an idea or a sentence or two and rely on Chat GPT to generate the entire piece. Consequently, more and more content is being produced by AI, not humans. I liken this phenomenon to pollution.
Why pollution? Because Chat GPT's power stems from learning from human-created content. It doesn't generate original ideas; it regurgitates what it's been fed. Over time, it's become incredibly efficient at this, learning in months what humans took years to accumulate. However, when AI starts generating content independently, it creates a cycle where AI feeds off AI. This leads to a future where AI doesn't rely on human-generated content anymore. Instead, it feeds off its own creations, controlling the information people consume.
This poses a significant challenge. If AI dominates content creation, there's a risk of losing control over our culture and our data. Social media platforms like Twitter and YouTube, as well as traditional news outlets, are vulnerable. However, decentralized storage solutions could provide a safeguard. By storing our content on decentralized platforms, we retain ownership and control. It's crucial, especially as AI's influence grows.
Perhaps our private keys could serve as a barrier. If we collaborate with AI, there should be a mechanism where AI compensates us for our content. Sharing to earn could be one such model. Stratos finds itself at a crucial juncture. While AI's dominance raises concerns, it also presents opportunities. Protecting our data, whether it's videos, audio files, or intellectual property, will become increasingly vital.
If you've been following our tweets, you might have noticed a recurring theme—data management and protection are paramount. This is a narrative we believe will become increasingly relevant in the coming years.
Native STOS on CEX'es🔗︎
Is there any chance that you can get the native stratos chain support on MEXC and what's the other one? AscendEX.
Actually, a couple of years ago, we collaborated with Ascendex to list STOS on Ascendax. At that time, Ascendex was still, to be honest, I don't want to speak ill of them. But following a significant event, about half a year later, Ascendex fell victim to a hack, resulting in the loss of approximately $70 million.
Subsequently, liquidity and daily trading volume on Ascendex deteriorated significantly.
To be frank, based on the data they've provided, Ascendex no longer seems like a reputable exchange. It's become very difficult for me to trust them. Even though we partnered with them officially in the beginning, I still wouldn't advise our community to trade there. If it were to happen, I wouldn't want members of the Stratos community or anyone else trading there to risk losing their assets. That's my concern, that's one reason. The second issue concerns Mex, but that's a different story altogether. Mex offered us a free listing; they initiated the listing themselves, and we didn't have to pay anything or provide liquidity.
We don't have a market maker for fitting their basic regulatory trading volumes. We didn't cooperate with anything related to that. Even when our main net was ready in September last year, we reached out to them. Yes, we communicated with them. However, most of the people we collaborated with long before have all left. We couldn't find new contacts managing that trading pair. Therefore, we never received a response from them. We asked if they could support the native token, but they never responded. Perhaps all the people we spoke to had already left the exchange, or maybe they weren't interested. Nevertheless, we didn't push harder. That's why they still haven't supported the native token. However, in the future, when we get listed on better and bigger exchanges, we will include the native $STOS or even future trading as part of the package and request for them to make it happen.
About 7007 Studio🔗︎
Can you tell us about Studio 7007, please?
Actually, we met each other in January, and then we had extensive discussions. One of the topics we delved into was data management - how people can retain ownership of their own content and how they can get rewarded for sharing that data with AI models. This idea was something we brought up during our conversations, and Seven had a very similar concept because they wanted to place all AI models on the chain. I also had a conversation with them this morning, so we've been working closely together recently. I really appreciate their approach, and I mentioned that it's probably the right approach to try decentralized AI.
Regarding AI, I like to think of it as having three different parties involved. The first party consists of data scientists who work on AI models, designing and training them. The second party includes those who provide clean or valuable data. Lastly, the third party comprises those who use the trained AI models to earn money or for real use cases. The first two parties are contributors, and both of them should be compensated. However, the third party is the one that will make a business out of it, earn money, and pay these two contributors.
Currently, people often think that since they have a GPU and an AI model (which is often open source), they don't need to pay the contributors who created the model, nor do they need to pay for data since it's freely available on platforms like Google or social media. This mentality could change soon. The economic model needs to be more balanced, and free data may not be sustainable in the long run. AI models are resource-intensive and expensive to develop. OpenAI, for example, is seeking $7 trillion for this endeavor.
It's easy to appreciate a beautiful picture or image in GameFi or NFT, but when it comes to infrastructure, like decentralized storage, it's challenging because people are quick to criticize. They can easily determine if it's garbage or not based on usage. However, with NFTs, value is subjective, and people may have different perspectives on what's valuable. Infrastructure projects face a uniform challenge in terms of perception.
When people work on decentralized storage and infrastructure, it's challenging. We want people to recognize its value, even if it's not perfect yet. Seeing more nodes and new participants in the network is encouraging because it shows that they are okay with our technology. While we may not be perfect, compared to other projects, we're doing well. AI will undergo a similar process. Currently, people may judge AI projects as good or bad, but once they start using them, they'll truly understand their effectiveness.
Team and Roadmap on Site🔗︎
Why did the team and the roadmap were removed from the website?
Yeah, actually, we haven't removed anything from the website. The previous roadmap has already been accomplished. However, the next significant milestone involves the completion of the computation components and the decentralized database. It's challenging to estimate when these components will be ready. While the storage and blockchain were ready last year, predicting the readiness of the computation components and the database is much more uncertain.
The reason we haven't included these milestones on the website is that without specific dates, they might not appear very serious. However, it's important to note that the previous milestones have been completed, which is why we removed them from the website.
Regarding the computation components, when we started, we realized they may never be fully ready. We have a different approach compared to projects like ICP or Flux. Instead of providing a container for users to do anything they want, we want to create a marketplace similar to the Apple Store. Users can select components for their specific needs, such as encoding or decoding media, or working on APIs. We want to offer a variety of computing components based on business requirements, and we also want third parties to contribute their own components to the marketplace.
When the marketplace is ready, we want people to have access to it, but it will be an ongoing process. We want to continuously add new components to process data on the storage.
As for the decentralized database, the strategy will be different, and it will take even longer to develop. Eventually, we aim for the database to hold most public chain information, allowing users to query it directly without running their own node. This will help build trust as the information on the database will be traceable and unmodifiable, ensuring consistency across all users.
While we don't have a specific timeline for these developments, it's our long-term goal. Stratos is a long-term project, and we're committed to delivering solid progress step by step. We're cautious not to rush each step and risk compromising our reputation. You can track our progress on GitHub, where we're continuously merging new code and making updates.
Your team's doing an amazing job. What about the team on the website where are the pictures of the team on the website.
Okay, yes, that was my decision. I felt that we no longer needed to display the team members on our platform. Many of our members have been with us for over two years, and we've built a strong and stable team. With increasing regulatory scrutiny, some team members expressed concerns about having their personal information associated with a crypto project. We believe that our product should speak for itself, rather than relying on personal information or previous work experience to establish credibility. Therefore, we made the decision to stop displaying our team information.
However, if you conduct your own research on platforms like LinkedIn, Twitter, or in various communities, you'll find that our team members are still active. They are engaged in discussions on Twitter, Telegram channels, and Discord, providing ample opportunities for communication.
Furthermore, you can also reach out to me directly. While I understand that some people may not agree with this approach, I believe it's not a significant issue. Ultimately, our focus remains on the quality and reliability of our product.
Exposure x2🔗︎
I'm going to go back to that. When I was saying about us getting into all these surveys that say about all the DePIN projects, and there seems to be projects with less of a market cap that ours are always in it like cross network and it's always in these sectors. But we're higher market cap and we're nowhere to be seen. We might be in only a few of them.
Yes, I understand. There are indeed larger institutional organizations that conduct DeFi promotions. They often feature projects like Filecoin in their narratives, given Filecoin's longstanding presence in the market. Another factor is their higher market capitalization and larger community membership, with more token holders.
However, it's important to note that getting involved with these organizations typically requires some level of fame and financial contribution. While Stratos has been around for over two years, we're still relatively small compared to these entities. If they're not willing to feature us without payment, it's not a major concern for us, as Stratos prioritizes being a product-driven project.
We're committed to showcasing our product and engaging with more communities and projects to highlight our strengths and why we offer a superior solution compared to older projects. However, we're not inclined to spend a significant amount of money for this purpose.
While it's common for projects to pay for mentions in articles and content, we prefer to demonstrate our value organically, step by step. If it makes sense for us to invest resources in certain opportunities, we'll certainly consider it, but we won't do so blindly. If some organizations choose not to feature us without payment, that's fine.
We believe that our strength and growth will speak for themselves over time. As for our involvement with AI, we're actively collaborating in this field because it's a transparent way to demonstrate our capabilities. Unlike paying for visibility, working with AI requires us to prove the quality and performance of our project through actual usage.
This approach aligns with our philosophy of earning recognition through merit rather than financial investment.
Android Wallet🔗︎
The first question we have that do we plan to create a Stratos Android wallet for easier transfer of $STOS tokens also via the Stratos network because Ethereum is very expensive.
We have a partnership with a third party who claims to have developed an Android and iOS mobile wallet. However, the process is currently undergoing auditing by both Android and Apple. The code has been submitted for review, and we are awaiting feedback from these platforms.
I plan to follow up with our partner tomorrow to inquire about the progress of the audit. It's crucial that the wallet not only be developed but also successfully pass the auditing process.
Additionally, while the native wallet is important, we also encourage community developers to explore creating wallets for other platforms and devices. I will provide updates as soon as I have more information from the third party.
TAO Partnership🔗︎
Another question that I think a lot of members are really keen about the TAO partnership. Can you give more details about how does the TAO partnership with Stratos actually work? How do we engage specifically and do they have many providers in the Tensorage subnet and et cetera?
Yes, I already mentioned that. We've been in communication with them approximately every two weeks, and in our recent discussions, they shared their code base with us and sought advice on the best way to integrate with Stratos. We provided them with guidance, and I plan to follow up with them next week to check on their progress. Once they feel they are ready to integrate with Stratos storage and begin storing AI data on our platform, I will keep you all updated.
From my perspective, I believe that initially, they may intend to establish their own storage subnet, but this process may not be straightforward. As I understand it, once they integrate with our storage, they will likely have several coordinators on their end, and the data will be saved directly to Stratos decentralized storage, with their coordinators facilitating the transfer of data to and from our platform. Thank you for your attention to this matter.
Customer Acquisition🔗︎
Thank you. Another question about the customer acquisition going. Is the team actively promoting Stratos or are the partnerships based on customers being aware of Stratos and storage solutions?
We don't have a dedicated team specifically assigned to this task. Currently, it's primarily myself, along with a few of our most dedicated community members who are assisting with these efforts. Our focus is on forming partnerships with other public blockchain projects, as well as collaborating with traditional web two companies and enterprises.
When it comes to working with enterprises and traditional web two companies, I prefer to wait a bit until our decentralized Dropbox-like solution is fully prepared. This way, we can provide a direct demonstration to them. Unlike our community members, these companies often lack experience with crypto, so we want to offer straightforward demos to showcase how Stratos can benefit enterprises in the web two sphere.
Additionally, some are interested in utilizing our Content Delivery Network (CDN). We're eager to have the CDN ready so we can create demo cases to demonstrate its capabilities and advantages, such as competitive pricing, enhanced security, and freedom from censorship concerns. Our goal is to persuade them to partner with us by highlighting not only the cost-effectiveness but also the additional benefits of using our services.
Ozone Spending🔗︎
Thank you, Bin. So here is a question from the telegram community. So who pays the ozone for users to watch the content while miner receive a part of the ozone paid to upload or download the data?
Yes, that question has been addressed. We're currently focusing on developing the CDN layer. With the CDN layer in place, business users can pay for bandwidth so that others can access their content, similar to how viewers watch videos on platforms like YouTube without paying directly. However, for users who opt to access content directly from the Stratos storage layer without using the CDN, they will pay for their own bandwidth usage. This payment, although minimal, is made directly by users who already have wallets connected to the Stratos network.
In terms of rewards, content creators receive two types of rewards. Firstly, there's the mining reward, which comes from the token economics of the mining pool. Additionally, there's the reward from users who pay for accessing the content, with a portion of these payments going to both the miners and the content creators.
Chinese Community🔗︎
Okay, thank you. And the next question I think is about the Chinese community. So the general community members are asking if there's a WeChat group and maybe if we can try to push Stratos over there. And also they know that we had an AMA in Chinese recently. Can we share? How's that going?
Yes, indeed, we held a Chinese AMA session a week ago. Prior to that, we utilized a WeChat channel for Stratos. However, due to stringent cryptocurrency regulations imposed by the Chinese government, WeChat is not deemed the most suitable platform for discussing crypto-related matters. As a result, we've discontinued the use of the WeChat channel. We strongly advise our community members to use Telegram instead.
The concern stems from the fact that WeChat users often link their personal phone numbers to their accounts. In the event of government crackdowns on cryptocurrencies, this could potentially expose individuals who are part of WeChat channels related to crypto discussions. Therefore, to mitigate any risks to our community members, we've opted to discontinue our official presence on WeChat. However, if you're interested in Stratos and wish to create a WeChat channel independently, you're welcome to do so. Nevertheless, we encourage everyone to join us on Telegram, where we have a Chinese-language channel available.
Closing Words🔗︎
I think that's basically wrap up most of the questions we have for today. And I will do a last call that if anyone want to get on the speaker to ask questions directly, you're welcome. If not, let's maybe just call it of the day to end the community AMA here so that we can leave the rest of questions in telegram community.
Because I noticed a lot of people, maybe they're shy, they still prefer to text the question they have. And since bin is always there in the telegram and helping everyone to answer their questions, so there's definitely no different that you can feel free to you post your question over there.
There's always channels for you to communicate with us. So just around the last call, if no one else have any questions to ask at here, then we will just end today's Stratos Community AMA. If this is needed by the community more often like a monthly, we can definitely consider this and do organize another AMA very soon as well. So Bin, do you have closing words?
Thank you once again for all the questions from our community. Your support means a lot to us. As we look ahead to 2024, we're filled with excitement as we have some major developments in the pipeline. We're thrilled to announce that some exciting new features are on the horizon, with the possibility of launching them in March on our testnets. Once thoroughly tested and ready, these features will be rolled out on the mainnet. While each of these features may not individually revolutionize the game, collectively they represent significant advancements for Stratos.
Furthermore, we're gearing up to embark on small AI projects and initiate work on our computing component. These are monumental undertakings for us. So, I urge you to stay tuned and continue to journey with us as we unveil more exciting news throughout the year. Thank you all once again for your unwavering support.