Some questions were raised by someone in our main channel around various aspects of our project and plans. Here’s our answers
What is the purpose Algoz Market Making? - context liquidity is almost non-existist.
- Market making is an obligation put by exchanges and as such the Foundation is using some of its buffers (which are small) to keep supporting this effort.
- As already mentioned many times before, we don’t and won’t hire marketmakers to create fake volume, the job of a market maker is to offer liquidity when possible and the market makers will follow the market up and down.
- Another responsibility of market makers is to assist the buy or sell process to avoid serious price fluctuations.
Why are 5 of the 10 members of the Wisdom Council insiders and specifically why the wife of the CEO a member?
- You can find the wisdom council on https://www.threefold.io/people/memberships/wisdom_council/ , they came together for a first time recently. They are all people that were chosen by the team for according to their values and visions for humanity and our planet. They all hold strong experience in their own fields. We do not understand what is meant by insiders, if referred to community members, yes, as we believe that having some key members to the project will ensure guardians of the initial vision and values we together believe in.
- If by CEO’s wife you’re relating to one of our founder’s wife Isabelle? She has her own business around healing and retreats on the Nile. She was a good candidate with wisdom to share. However, some issues were raised around the fact that she was related to a founder and as such she decided to step down from her candidature. Frankly, it’s a shame as she was a wonderful candidate.
- The decentralised project ThreeFold has no CEO, there is a group of people working together from multiple companies in multiple locations. More info can be found here.
- Kristof is the CEO of TFTech which is the open-source creator of the technology used by ThreeFold and anyone can contribute to TFTech growth on GitHub in the spirit of opensource and decentralisation.
Are there any plans to get on a top exchange? if no why not?
- TFTech, is fundraising right now and wants to finalise this new bigger investment round within 6 months. A large part of these proceeds will be used to grow the utilisation of our ThreeFold Grid and TFT Token. The details of this will be clear whenever these funds are available.
Is there marketing plan that is specific? Point by point plan to execute and when?
- The marketing team just expanded, if you didn’t know yet we had only 2 guys mainly Sam and myself handling all content and media related activities. But recently we hired new talented team members, and as shared recently a marketing plan is coming to life.
- In a way we’re a bit tied to the current budgets, but there’s fundraising efforts happening and we’re gearing for more marketing efforts.
- The best marketing is through the voice of a strong community, so let’s be more out there together! We will be sharing our marketing plans to involve you more, but please do share our announcements, news, blogs as much as you can as every share, like, comment has an impact.
Why has little attention been given to token price? If this isn’t a focus why did you list?
- The TFT price is what the market wants to pay for it right now? We personally believe the token price is way undervalued and its a very good buy.
- TFT is used to buy/sell IT capacity on the TFGrid, it isn’t a speculative instrument.
- The fundamentals behind the token are very sound and utilisation will create scarcity because of 25% burning & discounts which are linked to owning more TFT (sort of staking principle).
- Quite a lot of projects (some not announced yet) are planning to use our TFGrid 3.0 to deploy their apps on top of the ThreeFold Grid this will create the requirement for more people to buy the token. Click here for list of some of our partners
- Today the liquid market cap is < 20m USD which is very low for a project like ours playing in a huge market (+500 Billion USD market). As far as we know Threefold is the only available peer2peer cloud with compute, storage and network capabilities.
- Marketing will provide the required visibility, we are expecting more funds to come in and part of this will be used to support our marketing effort in a big way.
What is the purpose of the vesting? when the tokenomics keeps increasing token supply faster than capacity demand?
- Vesting is a voluntary process, mainly created for farmers of last years to show their support for the project. This is no longer needed for TFGrid 3.0.
- With Grid 3.0 farming tokens are only released once 30% utilisation has been achieved or 2 years. We are still gathering feedback around this because its also important farmers can pay for their ongoing costs. Stay tuned.
- In other words, Tokenomics do not increase token supply compared to capacity used.
When is the capacity going to be ready for the retail consumer with an easy to use UX?
- Some of the partner projects are super easy to use and they have their own UI.
- Through partners we will be able to scale much faster than doing this ourselves.
Also here’s a roadmap for our ThreeFold Grid 3.0, please check https://circles.threefold.me/project/despiegk-product_tfgrid3_roadmap