Feb 7th: Open Review Feedback and Actions taken

Thanks to all of you for reviewing our Contribution documents and providing your feedback. We have tried to address most of the issues that were raised to us and the purpose of this blog is to summarise them;

Feedback 1: First come first serve format of sale — some worried that they may have difficulty in participating and others rightfully pointed out that there would be better ways of doing a token sale to ensure max participation.

Response: We fully agree with this and considered a system where we could take the maximum amount of allocations and then scale down everyone proportionately to the amount we actually need for Phase II. The reason we decided against this is that these kind of contribution contracts would have slowed us down substantially and from a security perspective are un-tested. We would rather move fast and get our beta and live version released to Users as soon as possible. We are hopeful that we can use this participation structure for the second and final token issuance.

Feedback 2: Some questions around Inflation — The high figure of “up to a maximum of 625,000” tokens per year .

The number is likely to be closer to 300,000 tokens per year (ie. 20–25% per year) but we have deliberately kept the upper limit wide in case we need to go higher. Inflation will be set at the level we believe required to highly incentivise module developers. The token is a usage token and should thought of as such.

Feedback 3: Some US community members were upset they were unable to participate in contribution period.

We are really sorry about this. Our legal team has strongly advised we make efforts to ensure we are not accepting contributions from US citizens. We look forward to welcoming those who could not participate to beta testing though!

Feedback 4: In general, people are very keen to get a look under the hood at the code for the Melon protocol.

The code will be released before the sale and probably this week!

Feedback 5: Concern over there being “lots of advisors” but not too many full time employees.

• Advisors — our advisors are not just names on paper — they also act as consultants and are very involved in the technical (Dr. Gavin Wood), legal (Dr. Andreas Glarner), marketing and communication (Jehan Chu) aspects of Melonport.
• Full-timers— We (Reto and Mona) have been full time since Feb 2016. We have also been 100% self-funded during this period with no other distractions or projects.
• New hire! — Yesterday, we announced our newest full-time hire, George Hallam, who will focus on Business Development.
• Developers: We have been interviewing devs for a few weeks now and are close to making 1–2 formal offers to add to the Melonport Dev team. If you would like to apply for a dev role, please email admin@melonport.com. We are looking for strong, highly motivated team players !

Feedback 6: Contributions in Ether will be possible using Mist, Parity and Metamask. What about My Ether Wallet and Ledger Wallet?

Reto has taken these requests into consideration and both My Ether Wallet and Ledger Wallet should be supported during the contribution period.

Feedback 7: People continuing to ask “What differentiates you from other AMPs (Asset Management Platforms)” ?

Simply put, we are a DAMP (Decentralized Asset Management Protocol — not Platform). We are building a fully open, decentralised back-end solution for portfolio or VC — type structures in the form of a protocol. We are building a back-end which anyone can develop on top of or mould for their own purposes and requirements. The DAMP is as inclusive as possible with high incentives for developers who add modules that are useful (incentives via Melon inflation) and low barriers to Portfolio Managers who want to use the protocol (no fixed cost and only a Melon token-based software licensing fee on trading).

Feedback 7: Melon Specifications document:

• A few sentences in the introduction were desired before the roadmap diagram.

We will add this in on final documentation.

• What quality control will be applied on the submitted modules to make sure they are compliant and safe to use?

The modules that Melonport builds will undergo a total of two audits. No controls will be applied to the addition of outside modules, however, you can expect that Module Developers (or their entities) will be rated and reviewed. Users should always do their own checks so that modules are compliant with the rules of their respective legal jurisdiction and are in general, safe.

New versions of the core can not be added freely. Melon token holders will have to vote them in.

• MLN tokens — will they be listed on exchanges?

We’re conversing with all the main exchanges to make sure they are safely able to list the Melon token if they desire to do so.

• It would be fantastic to schedule a Google hangout to answer potential contributors’ questions ahead of the Contribution period.

We will try to schedule this via the Slack chat and announce on twitter! We very much look forward to hearing from you all.

• Feedback: CHF — What is it?!
• Swiss franc. We apologise for the confusion ! We will clarify this in documents :)

Reto Trinkler Chairman & Co-Founder

Mona El Isa CEO & Co-Founder