CUDOS AMA: Gagarin Community
Can you shortly introduce yourself and tell briefly about what is CUDOS?
Hi Everyone, My background is having previously built tech and internet businesses since the late 90s and inception of the internet. My last business I previously built was called C4L which was one of the UK’s largest cloud and data centre providers
We ended up providing 1% of the UK’s infrastructure and had a global backbone providing connectivity around the world. We ended up being the UK’s data centre largest marketplace.
Our aim has been to build a global compute network which powers blockchain and traditional computing. By using the spare computing that is available in the world of over 500 million suitable and underutilised devices to create a greener cloud computing that exists today.
So CUDOS is a cross-chain decentralized compute network designed to power Web 3.0. It enables anyone to sell their computing or consume decentralised computing resources either via blockchain/smart contract or via more traditional cloud computing API’s.
Can you shortly describe CUDOS $CUDO native token utility?
To consume resources of the network which include gas for the transaction, smart contracts and cloud computing
To use Dapps and pay for services/applications
To consume resources of 3rd party networks, which includes data feeds and external API’s
As an anti-spam and security mechanism to receive compute workloads as a compute node on the network
We are bringing in governance and voting to be able to vote on decisions across the network.
Staking rewards are paid out over a 10 year period, on a fixed per block amount which reduces per block slowly over that time. First 2 year levels are fixed, after the first 2 years, this is opened up to voting via governance. There is a lockup rewards multiplier for locking up staking for a period, we are looking at 50% bonus 6 months, 100% bonus 12 months.
The network is designed with the aim the transaction and compute rewards exceed the pure network staking rewards over time.
This provides substantially lower transaction and compute costs over many current networks with the addition of added scalability.
Who are your main competitors on the market and what are your main advantages?
I don’t believe a project has yet successfully bridged cloud computing and blockchain computing. But there are a number of projects which have some similar aspects to ours. Rather than competing directly, we plan on integrating and partnering with many.
Near Protocol, Oasis Protocol, Band Protocol, Ethereum, Skale
Most of these networks cannot scale. They are designed for smart contracts, not for computing. Hence many of them only have a handful of nodes. Which is fine because that is their use case. We have designed the network to scale to the computing demands of the world, which is a much bigger requirement and a different design.
For example we have over 20,000 compute nodes and over 150,000 users which is scaling quickly, which gives us substantial global compute capacity. We have AMD rebranding our technology which you will see in the coming weeks, and Ultra integrating our compute engine, between them is due to expand the network to over 1 million nodes in 2021. We are currently live in over 145 countries.
As well as the current network, we have been busy signing up global data centre providers and bandwidth providers to expand the network further.
The difference is we took a market approach first and applied the technology to that which is what is giving us the quick scale of network and users. I say quick, but we have been working on this for 3 years now.
Filecoin is probably a more similar comparison in the scale out model, as that has been designed to run on 100,000s of devices.
It is a dual layered network with the core network (Layer 2 network) being used as the bridge onto multiple blockchains to provide integration into multiple blockchains, initially being Ethereum, Algorand, Polkadot, Cosmos. The core is primarily for decentralised consensus, transactions, bridging and running WASM to run rust or solidity. Users can interact with via bridges and oracles on other blockchains. The layer 2 network runs on up to 100 validators, which we aim to reach in around 12 months.
The layer 3 network primarily runs more traditional compute tasks in WASM, Docker or VM’s (Called compute nodes). Consensus methods are chosen by the developer. Contracts will be able to scale from the Layer 2 to the Layer 3.
This network enables anyone to buy and sell compute capacity. Compute Nodes create a trust score based on availability and have a minimum staking so they can receive compute work. This enables us to bring in the $200bn a year infrastructure market into the blockchain space.
Usually, the project only tells about their strengths. Can you tell us honestly about the weaknesses of your project? And what are your plans to solve it?
I’ll do this as it came first, right now I would say the internal size of the development team, we are building really well and have created a lot of traction as you can see, I’ll like to accelerate many areas of the development though, so to solve this we have recently started partnering with some well-respected development companies in the space so we can accelerate development and maintain the speed of our roadmap
What security features will be implemented in CUDOS to prevent hacking due to errors in smart contracts. Are they audited frequently to identify vulnerabilities?
All the smart contracts are audited by Certik who are well known in the space. Being ex-service providers this is a key aspect for us.
How can I participate in private sales of CUDOS? Is KYC required for private sales? and what is the minimum of purchase?
KYC is required, there is currently a private sale, I believe this may be closing this week though as it has been extremely busy if you are interested please use the contact form on the site. You will see news about being available more publicly in the very near future
Demand — which is important for investors. How will demand of Your token increase in the future? What should you do to increase token demand?
Demand is through the use of the network, which is why we partner with many people in the space, Algorand is a good example, we have a partnership with Algorand. Algorand is a low cost fast transaction network, but because of the design choice it is limited in its functionality and it not turing complete. Working with Algorand we are integrating the CUDOS network so that Algorand smart contracts will be able to do full turing complete work using the CUDOS network. The network can run this in WASM, Docker or VM’s. With ethereum cosmos and other integrations, each ones gives access to their communities
we also have some key members like early investors in Alibaba, early team members from Docker who help us bring that usage of the network.
Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?
CUDOS creates revenue via utilisation of the network. This is in a number of ways. To use the network resources being compute, costs CUDOS, so to either use it for compute, use it for deploying and building dapps, this costs CUDOS. This can either be natively on the network or it can be via a bridged Oracle/integration with other Blockchains. Rewards are also given to staking holders on the network as we are a POS network.. So the focus on development is either integration with development on CUDOS and Dapp / smart contract integration, using the network from compute, hence we are working with many large global AI, video rendering video streaming providers to use this capacity.
What methods does CUDOS plan to control the distribution volume and supply-demand relationship and ensure the value of CUDOS?
Early investors are on long vesting schedules, there are no investors with zero lockups. Many investors are strategic as well, working with us on the longer terms goals of CUDOS. The team are on long lockups and vesting as well. Tokens do not need to be sold for the project to continue which is good for circulation.
Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
We have restricted the US is the main region, most other regions are available, our users area in over 145 countries.
Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming?
We have been working on this for 3 years, we are in it for the long term. Our last data centre business we ran for 16 years, the token is designed in that aspect, the release schedule is over 10 years and the adoption of the network will increase to replace that over time. We already have a large number of users and customers lined up to create network and rewards for token holders early this year.
The adoption and awareness of the platform is very important for any creator and user! So, how do you plan to attract more users and creators who use non-Crypto users on the CUDOS platform?
We see the non-crypto space as a much bigger space at the moment, which adoption is still growing in blockchain and have designed it on that, the partnership with AMD is expected to bring on 2 million non-crypto users onto the network, we are working with data and defi providers to use the network Crypto Compare and Coinmarketcap as 2 of the first planned DeFi Dapps to be going live on the network, NKN and Noia Network are a couple of the first network connectivity providers that will be using the network for global nodes.
Many Validators onboarded which we’ll be announcing over the next few weeks. These are a mixture of Staking Validator providers and also global data centre and hosting providers.
Software platforms that are integrating our platform to monetise their users hardware include the likes of Ultra gaming network, which is like a blockchain version of steam and lets gamers sell their games afterwards.
Gather is using the CUDOS network to scale its underlying blockchain network.
Blendergrid is using the network to scale video rendering films and movies, which is one of the largest Blender rendering platforms.
Algorand as the first Blockchain and working directly with the team there
What can CUDOS offer to solve the scaling problem? And how does CUDOS deal with the threat of centralization?
Our core nodes are split over 100 different global providers, which will scale further over time, we aim for this to scale to around 1000 in the next couple of years. The compute network is distributed all around the world, so we have substantial decentralisation. Also, governance and voting is being implemented to give more control to the community
While you build your project, do you take into account community feedback and demands?
We are very much community lead, so yes we welcome feedback, and voting will enhance this further
Could you give an overview of $ CUDOS Token tokenomics? Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?
We are releasing a token explanation blog over the next few days which goes into detail here. We have designed it so that it is not as vulnerable to negative impacts in the market and also takes advantage of much of the computing industry which is completely independent to the price of crypto
A big problem for a lot of Defi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump?
Yes, the staking rewards do not just come from farming because as you said this is a race to the bottom, rewards will primarily over time come from the usage of the network and 3rd party network usage. We have substantial clients moving over infrastructure. It is also worth becoming a compute node as this is rolled out further for greater rewards.
Can you tell more about roadmap for future developments? What is the unique feature of Your project?
Some of our uniqueness comes from the ability to integrate, this is why AMD are using our software and companies like Ultra is integrating our compute engine. Each one of these partnerships brings us 100,000s to millions of nodes. It’s the only way to truly scale a network like this.
Currently, the world is experiencing a global crisis due to Covid-19 and several projects have declined. My question, What is the vision and mission of the CUDOS team that makes $ CUDOS token have a very high demand and is good when there is a crisis and an outbreak of covid19?
Covid has actually driven the demand substantially for online computing, which is naturally one of the spaces we provide. Especially the demand for backbone and internet bandwidth for services like video streaming. We are integrated into some of the worlds largest network providers. There is also a larger demand for greener computing which we have provided.
What problems is your project trying to solve to make it easier for Crypto users? Please let us know how evolving the roadmap is right now. What will happen this year and in the future?
We are solving the cost and scale issues of blockchain and cloud computing. Enabling lower cost and more scalable decentralised solutions. This is a major space which is not particularly well addressed at the moment. From a home users perspective, we enable anyone with any device to earn crypto from their hardware such as games PC or games console. We are working with games companies, one of our board, for example, is Chris Deering the ex-President of Sony Entertainment called “Father of Playstation” as he ran PS1 and PS2.
What makes you feel confident about the survival & sustainable success of Your project in the near future?
We have done this before, its not our first go, we are an experienced team who have previously built large companies, we are well funded and we know how to build what the market needs.
You guys are doing Ama’s in all group & almost answering same types of questions again n again? How do You feel about it???
Interesting question, As long as we are answering different people and we have different communities I hope we are informing many new people.
Presently as at today, can I possibly use your token in real life for payment?
We have integrations going live soon which will let you use our token to pay for vouchers and other platforms, naturally, we have listings which means the token will be liquid as well. Via working with PlayStation, AMD and others you’ll see integrations there as well.
From a startup project to a mainstream project, being a pioneer in the industry, does the team anticipate that how many new startups will show up and compete?
If there isn’t competition then it doesn’t keep you busy, we expect a lot of competition in this space of the years, getting in early is key which we have been doing
Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities?
Yes, we will be releasing bug bounties, please join the channels on our site to get updated when we release it. Re the team, a number of us come from my last data centre business, others have built and scaled other SaaS companies or built large data and infrastructure platforms and also involved in a number of other prior blockchain projects.
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
We will have buyback which is then used in future to grow the ecosystem further, this comes from transaction fees and compute fees
When will the world stop being afraid to use DeFi? What is CUDOS doing for the mass adoption of its technology?
The network is used to support DeFi Dapps and developers, 2 of the first are crypto compare and coinmarketcap for example, but we are actually a scalable blockchain /compute network, DeFi is growing, 2020 was really the growth year, 2021 you are starting to see more mainstream adoption.
I am an experienced developer and ethical hacker, do you have plans for hackathon so as to check the security of your ecosystem periodically and also invite developers to build?
yes we will be doing hackathons this year, we work closely with Outlier Ventures and will be working with them to do these around the world, we’re also releasing challenges and rewards