A Productive Day in Germany
Meeting to Discuss Crown’s Future
On 28th October, courtesy of a kind invitation from Crown community member Achim, I visited Essen in Germany to meet with Crownfan, Achim, Gohar and pjcltd. The purpose of this meeting was to build bridges after the last few months of tension and to discuss the future of Crown.
An Apology
Firstly, I would like to make a public apology. While tensions were high in Discord after I submitted my proposal to take responsibility for technical development, I accused Crownfan of having an apathetic approach to getting Crown back on track. During our meeting, it became clear to me that it wasn’t a case of apathy on Jose’s part, more that I did not have full visibility of the sheer amount of time, effort and money that he had invested in Crown since I left the project in 2018. I was wrong to accuse Jose of this and I would like to publicly offer him my sincere apologies.
Without the efforts by people like Crownfan, Edwardmorra, walkjivefly and pjcltd to keep Crown running, the project would not still be alive. Sometimes their efforts are not visible to the community. I will not overlook their contributions again.
The Challenges
The first goal of the meeting was to discuss the main issues that affect the health of the Crown project today. Broadly speaking, all those in attendance were in agreement about what those issues are. In no particular order, we talked about the following:
- Health of the codebase.
- Health of the Bittrex market.
- Health of the DAO
- Long term development strategy & vision.
- Marketing resources.
A Common Goal
The group reached unanimous agreement about what our short term goal should be. To grow the value of the CRW DAO to a level that would sustain paying proper salaries to a full time dev team.
The group also agreed on how we should do this:
- Steady development progress.
- An increase to the number of tokens available in the governance fund.
- More ambitious and intensive marketing across multiple channels.
- To support and grow liquidity on the Bittrex market.
- To identify and deliver a use case for Crown that is unique, useful and ensures that Crown offers something that other crypto projects do not.
The Plan
Development
I agreed to rearrange resources within my company to ensure that Block Mechanic can focus 100% on the delivery of the Bitcoin Core and also agreed that instead of delivering three separate updates, that we would deliver one major update including all of the new features before the end of 2021. I’m happy to confirm that this arrangement has been funded and is already in progress.
Increasing the size of the DAO
We intend to submit a proposal to eliminate systemnodes and to allocate the coins that they used to earn to the governance fund. We believe that this will protect long term funding for the Crown development team and also increase potential earnings for masternode operators. While systemnodes are a useful passive income for smaller holders, we believe that pjcltd’s new masternode sharing service will create new opportunities for smaller holders wishing to stake their Crown holdings.
Marketing
We agreed to a hard three month push to shout about Crown’s strengths and potential use cases in social media channels and to invest a significant amount of money into a larger scale marketing initiative once the long term vision for the Crown Platform has been decided and defined. Crown has long held the position that marketing should be fact based and realistic and we are not diverging from that position but we agreed that we could be more ambitious in our methods and framing.
Bittrex Market Making
The hard truth is that the Crown market on Bittrex has a very large sell side, a very small buy side and very low daily liquidity. The reason for this is that Crown does not offer a unique proposition to the crypto industry. We believe that deciding our long term vision and delivering something unique and useful will change the trajectory of the Crown market and that in the meantime, the Bittrex liquidity proposal should be renegotiated and funded to ensure that both markets to BTC and USDT maintain a basic level of health.
https://global.bittrex.com/Market/Index?MarketName=BTC-CRW
https://global.bittrex.com/Market/Index?MarketName=USDT-CRW
Crown’s Future Unique Selling Point
Crown’s long term development vision has to be decided and implemented. We need to choose, as a community, how Crown can position itself to be useful in the crypto world. In our meeting we had several good ideas that are achievable however the true potential of Crown will be linked to the new capabilities that the Elements NFT update will provide. Our goal is to present a new vision to the Crown community within the next month so that we are ready to embark on a new phase in Crown development in 2022…creating something unique that will turn heads and return the spotlight to the Crown project.
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