Dear Community,
As many of you know, we have had a very bad time in crypto after the bubble burst in January 2018. From that time, our project and most other projects have had a mass sell of and investors have gone to the stable currency, Bitcoin.
“Proof of Bears”
Most of the projects were abandoned because of many aspects, but mostly because of lack of funds. That did not happen for SnowGem and we kept on duty with our daily challenges.
Everybody can follow our #dev-diary channel on Discord to see that the SnowGem Team is still developing 100% towards our future and we already delivered most of the key features in our roadmap that we promised. It’s a signal of a strong core base and a strong signal for all holders and investors, that the SnowGem project has serious and trustworthy team members. We can say now, that the SnowGem project is now also “100% Bear resistant”.
“Voting”
During this bear market we mentioned above that we wanted to add more coins to dev fund which led to a negative standpoint from our community. We publicly apologized for that and promised to all of you, that we will create a democratic voting system which will help us to stay in a decentralized environment.
We worked hard these last months on this feature and finally we can say — it’s done and already implemented on mainnet.
With a voting system, the SnowGem project is now on a much higher level of decentralization than before. Every single person on the SnowGem network is now able to create his own proposal and ask the community for an opinion. Every masternode owner should vote Yes or No to this proposal to say his opinion.
We can see this type of governance system only on high-level projects like DASH or PIVX, where votes matter, and now you can use it on SnowGem :)
“Roadmap 2019”
The SnowGem Team already delivered these promised features in 2019:
- Thor´s Hammer mPoW Solution
- Asgard a one-click masternode management tool
- SnowGem Crypto Company has been registered and started
- iOS Wallet Release
- Listed on General Bytes ATM´s
- Listed on trade.io
- Masternode Voting system (Governance)
- Building Offices in Czech Republic
- Ledger integration
- Credit Cards (PolisPay)
Our upcoming plans in the second half and end of 2019 are:
- Move team, especially Txid to Czech Republic
- Finish IPFS solution for our content masternodes
- Start our own VPS service solution for masternodes with FIAT and Crypto payments
- Create our own “Masternode miner” hardware (“BlackBox”)
- Finish SnowPay, crypto-to-fiat and fiat-to-crypto merchant solution
- Finish CoinGuard , a dex wallet with multi asset and credit card support.
- Finish our own Credit Card solution system
- Finish hardware wallet Masternode staking
- Finish our own Masternode staking solution, based on Asgard
And finally, there is also a major decision which we would like to start talking about and that is our own masternode Proof-of-Stake solution — if our community will accept it, we can move from PoW in 6–8 months from that date.
“Time & Funds”
Finally the most important thing in crypto is time. As you can see on other projects — if they won’t deliver on time, they have troubles. We know about this and that’s why we want to open a discussion about Superblocks for specific purposes.
What is Superblock?
Superblock is additional coins supply in a specific block which must be firstly voted and approved by the community. A Superblock gives the Core Team a chance to receive more coins upfront to 100% cover their spends on project. If Superblock is activated, all coins are counting in circulating supply. The Superblock amount is periodicity hard-coded and must be voted upfront.
Also as you saw in the past weeks, we released a full financial report of SnowGem project <link>. As you can see, we spent already over $128,000 USD in our previous roadmap which brought us to the top cryptocurrency projects. The Crypto sphere is a really fast space and as you can see, our ambitions are really high.
Our project isn’t financed and never has been by a major investor. We are using only our own personal finances from Core Team members and also dev fee, which is actually ~60k XSG per month which is not sufficient for what we are planning. There are a few ways to increase dev funds but many of them didn’t work well in the past.
“Proposal”
We decided to ask the community for a proposal for the upcoming 12 months to have 4x 250000 coins in Superblock which will cover:
- Core Team salaries
- Marketing
- Office/Legal expenses
- Adoption
- Events
- Support/Docs
- Liquidity
Also we will leave 7.5% dev fund in our block. That will lead to a massive income of funds for the project which will speed up SnowGems progression.
We understand, it’s a big step and that’s why we also decided to NOT ACCEPT this proposal if vote will be not more than 80% of all votes.
“What if NO happen?”
Well if a massive NO to this proposal happens, or we won’t see more than 80% of votes, we will continue anyway with our mission, it will just take much more time and efforts to bring us to a wider audience. Nothing is lost then and we are also prepared for this situation.
“When it all starts?”
This proposal starts on 20th of August 2019 and ends on 20th of September 2019. There are 30 days for a vote.
Please try to join this very first community initiative and say your opinion also on Discord, Telegram or Twitter.
Thank you very much for you support, the SnowGem Core Team
