SpaceChain AMA — Nov 2021
In October, we asked the community to submit their questions to the SpaceChain team. We have compiled the AMA here from our SpaceChain English Community Telegram Group. Thank you for your participation.
GENERAL
1. Will SpaceChain be cooperating with NASA or SpaceX in the future?
SpaceChain does not directly work with NASA or SpaceX. For our missions, we work with Nanoracks, which is a private in-space services company that has a Space Act Agreement with NASA.
2. Is the SpaceChain team expanding, and who are your team members?
Yes, we are attending global conferences and opening offices in countries with strong interest in space business. However, expansion is costly and requires a lot of regularity checks, especially for the space industry. In terms of business, we are expanding but we are in no rush to expand quickly, however, in terms of development speed, we are already considered very fast, having launched 5 nodes into space in less than 4 years.
We have team members all over the world, and some of them can be found on LinkedIN. However, we prefer to showcase only the executive team on the website.
3. Is it true that SpaceChain is selling its tokens to fund its operations and pay its employees?
No, SpaceChain is not selling its tokens to fund its current operation and pay employees. We are generating funds from other sources including grants from government and space agencies as well as through customer sales from our services. The last 2 launches in June 2021 were both fully commercialized for corporate customers.
4. Will the website be updated with new information?
Yes, we are working on revamping our website. It will take us some time to develop the website over the next few months as we aim to create an amazing new website with new features.
5. Would it be possible to have Russian subtitles?
While we would love to include every language group in our community, it is difficult for us to accommodate everyone. However, if there are members who are passionate about SPC and would like to start a SPC Russian community on their own (or any other language community) or add subtitles to the videos we create, we would be happy to support them.
6. The wider community is not paying attention to SpaceChain and there is no marketing done to attract more people.
SpaceChain’s style of marketing in the crypto world has never been aggressive. That said, we have great PR outreach and our efforts have paid off. In less than 4 years, we have caught the attention of many governments and space agencies. This is already quite an achievement for a small company in the space industry.
Plus, we have been widely publicized in the media and been invited to speak at the panel at prominent events. We have been featured in Forkast, Via Satellite, BBC World News, Bloomberg RADER 2021, Coindesk, Consensus 2021, Cointelegraph, SpaceNews, Irish News, and Cheddar News. We have also garnered the attention of various organizations including European Space Agency, Innovate UK and Enterprise SG.
Over the past year, we have also run various social media campaigns. The space industry is slowly gaining momentum in the blockchain world.
SPC TOKENS
7. What is the utility of SPC token and its use cases? Is there a projected date of token utilization?
SpaceChain is building a Decentralized Satellite Infrastructure for space and satellite-based application development, where its token will serve as a method of payment for access to applications built and utilized on the platform. As such, the SPC token works like a digital currency in the SpaceChain ecosystem.
Thanks to the many businesses and companies that partner with SpaceChain, the entire network is powered by and built on this token economic model. Thereby, the SPC token also serves as a means for payment and transaction at all of SpaceChain’s partners.
The community can look forward to SpaceChain building a payment portal to access satellite data for our partners and some other space related services. For a start, SPC token can be used to purchase the Callisto and also be used to unlock more financial products with its DeFi features.
8. What is the total supply, current supply and max supply of SPC tokens? Will there be an increase or decrease of tokens?
Even though SPC has QRC, ERC v1 and ERC v2 tokens, the total supply for all tokens remains at 1 billion.
9. How many SPC v1 tokens have been lost due to the token upgrades?
Unfortunately there is no way for us to track this as we don’t know if there are people or exchanges still holdin on to v1 tokens. That said, all v2 tokens were created by burning V1 tokens that were swapped, guaranteeing the 1 billion SPC supply does not change.
10. When will SPC be listed on a big CEX?
We are always on a lookout to be listed on big CEX, however, it will have to make business sense for us to do it as it often requires a lot of funding and liquidity. Popular exchanges also do not readily accept any token.
11. Will SpaceChain be locking it’s liquidity to protect hodlers? Projects lock up Liquidity for many reasons, if there was ever an event of a hack or attack of the contract or a rogue developer, team member.
SpaceChain has been operating since 2017. We are in it for the long term and are not going anywhere. So no, we’re not going to lock the liquidity. For example, in the recent lending pool exploit, we needed to change how liquidity was provisioned on Uniswap-v3.
Locked liquidity would have prevented us from fixing a problem. Neither projects like Circle/CENTRE — The maintainers of USDC — nor the Wrapped BTC DAO — maintainers of WBTC — lock liquidity in the way that has been described. That is simply false. Perhaps this is being confused with LP positions, where a project locks liquidity against a major crypto such as ETH, WBTC or USDC. That is done by the project, not USDC or WBTC.
12. When do you think SpaceChain will generate profit?
We cannot comment and speculate in terms of token prices. However, SpaceChain has assembled a good sales team who has been doing a lot of outreach. They have been having frequent meetings with different customers. We are the leading player in the blockchain and space industry and are able to integrate our tech with many different products and services. We are open to any new business and customers. Please send these companies our way.
13. Will staking be available for SPC tokens?
SPC is listed on Rari Capital, which allows you to stake, lend and borrow tokens, as well as on Gysr, which is a liquidity mining programme.
14. Are there any benefits for those hodling SPC tokens in the long term? Any plans to do airdrops to incentivize token holders?
You can refer to the previous questions above about staking. We recently launched a new liquidity mining campaign at app.gysr.io.
TECHNICAL
15. How many satellites has SpaceChain launched and how many do you need for a working ecosystem? Are the satellites rented or owned by SpaceChain?
To date, SpaceChain has launched 5 satellites. To form the ecosystem, an estimate of more than 30 satellites are required to build the constellation of communication for the Decentralized Satellite Infrastructure (DSI) in the future. The satellites are rented.
16. Can space dapps only be created on SpaceChain? What’s stopping an ethereum developer from developing space dapps?
No, it is possible for other companies to develop a hardware board that enables space dapps to be created on their platform. Ethereum developers are unable to develop space dapps as they do not have access to space, such as the development of flight proven hardware boards and sending the board to space through small satellites. SpaceChain is able to provide such a board (such as SpaceChain’s Callisto) for developers to create different space dapps.
17. Are there plans to eventually build your own satellites or any other kind of space infrastructure? Or, will SpaceChain stay strictly a software-based company?
Presently, SpaceChain provides software services. We do not build our own satellites. Instead, we are developing a Decentralized Satellite Infrastructure (DSI) with the help of various partners. The DSI is formed by a mesh-network of heterogeneous spacecraft that is owned by multiple parties across jurisdictions operated in Low Earth Orbit.
With the DSI, Decentralised Satellite Applications (DSA) can be built and run without the need for any land-based infrastructure. We are also working with satellite provider companies such as Nanoracks and Spire Global.
18. Are there plans to integrate with other ecosystems, such as Moon Rabbit?
We are always looking to integrate with other ecosystems. As we are now open to commercial business, we welcome any company to work with us and integrate their ecosystem into space. We can help them achieve their vision. Unfortunately though, we are unable to share which companies we are working with until all contracts have been confirmed.
19. Has testing begun on the International Space Station for the launches in June 2021?
Yes, we have started testing the first ETH multisignature transaction on the ISS. The test will take several months.
20 . Are there developers who have already deployed or are planning to deploy applications using SpaceChain’s Callisto?
We do not know of any developers who have created apps using Callisto. However, as the Callisto has a similar configuration to SpaceChain’s on-orbit space node that is installed on the International Space Station in Dec 2019, developers can create blockchain apps (such as the multisignature transaction service) and run tests as well as simulations on the computer to see if their app will work in space.
21. Will SpaceChain partner with AI companies like Singularity Net for say Space mining?
Yes, we are working toward this direction though we cannot comment on the companies we will partner with. One of the targets of the DSI project is to create a heterogeneous constellation of spacecraft, capable of performing edge computing and inter-satellite collaborations. Space mining is a huge area and a lot of effort is required on both the technical and management side. We are contributing to it by creating a trustful environment in space.
22. What kinds of SPC APIs are open to the public?
SpaceChain did not open any APIs to the public.
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Note: This compilation of AMA questions have been revised to improve the grammar and readability.
