Aeron, two weeks in review (January 1st — January 14th)
Dear Subscriber,
The holiday season is over!
We understand your excitement and concern while you observe the recent ARN token price action. We believe its driven by free market forces. The team here is focused on execution, as we would like to release the useful product sooner and we can assure you that both product and partnership news are coming this month.
Please be diligent in your research and decisions.
We have released Aeron flight logging apps for iOS an Android to beta testers. With tons of feedback received from our friendly pilots, we update the design not only featuring blockchain log records, but also perfect usability for pilots in general aviation. Certain design snapshots were made public in official twitter channel (https://twitter.com/aeron_aero). Applications will be released for public beta testing in the near future.
With the rapid growth and wide swings in Ethereum blockchain transaction costs, we consider alternative public blockchains to store flight log summaries. Stellar (https://www.stellar.org) is a viable alternative, with integration to be tested this month.
The team is excited to explore new opportunities in the Middle East, starting from Bahrain, where new partnerships are being negotiated and follow up visits are scheduled. Aeron sees major potential in these areas with well-developed private aviation.
Next month, Aeron (ARN) token will be integrated into the client area of Aerotrips web portal at https://aerotrips.com/register to enable the customers view their ARN token balances and subsequently utilize ARN to pay commissions for services offered by Aerotrips.
We have seen a number of questions related to the recent change in ARN circulating supply. From 20 million ARN tokens in existence, 8 million were frozen. That was a voluntary decision, with motivation to avoid dilution and support token value. As defined in whitepaper, these tokens have the following purpose: 20% (4 million ARN) for network growth facilitation and partnerships, 18% (3.6 million ARN) for the team and 2% to cover costs associated to the token sale. Given unprecedented growth in ARN token price, part of these tokens was claimed and had to be allocated ahead of the intended schedule.
Specific allocations done under the heads as defined in whitepaper: 2% (400 thousand ARN) as token sale costs and 3% out of 20% (600 thousand ARN) to facilitate network growth for the upcoming partnerships. We would like to reiterate that according to the original plan, all tokens should have been allocated at once, and decision to freeze part of the tokens was purely voluntary to limit circulating supply in the early days.
We were advised that advance notice of intended allocation could have an unpredictable effect on the token price and therefore we have taken a conservative approach to discuss such allocations post factum. It was further agreed that balance 3.4 million partnership tokens will be unfrozen and released in the orderly manner not exceeding 1.7 million ARN per month.
We reiterate the decision not to allocate any team tokens till the roadmap milestones are achieved. Aeron development and management team has opted not to accept any team tokens on this stage. Even with tokens released to the team later, it’s a long term incentive to go along with the growth in token value, so the team interests are aligned with all token holders.
Aeron (ARN) token is currently trading on Binance, HitBTC, Gate.io, EtherDelta, Tidex, Bit-Z, Mercatox and Kuna. Please see https://coinmarketcap.com/currencies/aeron/ for token circulating and total supply and other relevant details.
We are working hard to unveil the new use cases and exciting partnerships!
Please do not hesitate to join our support chat on Telegram for any queries.
With Kind Regards,
Aeron Team
