Hello DAV Community! The team held an AMA with the Chinese-speaking members of the DAV community recently, with translation services from our Chinese marketing group. We captured the questions and responses and offer the transcript below for the rest of the community to peruse. We hope you find it useful and informative!
Hello to everyone in the Chinese speaking DAV community.
It is an honor to have this opportunity to address your questions and concerns. My name is Noam Copel and I am the Founder of DAV. With me are John Frazer, our CCO, and Tung Chan, DAV’s General Counsel.
We are of course fully aware of the current state of the crypto markets, and understand that this has adversely affected all ICOs across the board. Despite these conditions, we remain thoroughly committed to our task of bringing about the DAV vision. A project of this scope requires that we adopt a long-term outlook, even as we work hard to maintain our track record of reaching every milestone on the roadmap on time. We are also committed to remaining transparent and connected to our community members, like yourselves.
I am pleased to say that our growing DAV Alliance currently numbers 24 member organizations, all of whom are gearing up to use the DAV network. And we have more on the way. We have been in talks with the top six automotive companies, and are continuing discussions. Additionally, if you hadn’t heard, we are so pleased to announce that Ming Chan, the immediate past Executive Director of the Ethereum Foundation, has joined us as an advisor.
With that brief update out of the way, I open the floor and welcome your questions.
Q1: The starting price of tokens is too way low, some people are mobilising to protect their rights, there are also some articles talking about it. How do you respond to it?
The article in question is untruthful. The DAV Foundation has solid advisors and a dedicated team who work hard and have a very good reputation. The DAV Foundation is considering legal action and could seek remedies for defamation from the authors of the article.
The token price is outside of the DAV Foundation’s control, as we do not control the trading of tokens in the market place between buyers and sellers. The result you are seeing may be due to the recent depression in the crypto markets and maybe also the error that BitForex may have made in their listing. BitForex is not our company. It is a separate company that is an exchange run by its own CEO and business team.
The DAV Foundation’s value will go up if the project is a success. The top ERC20 tokens have high values due to the success of their projects.
Q2: Why the starting price is o.oooo1 ETH?
It seems that BitForex mistakenly set the starting price of DAV as 0.00001 instead of 0.0001 when they listed the token on their platform. It is very likely that this technical error, combined with the current fear in the crypto market has caused the charts to look as they do today, despite a significant improvement since the time of listing.
Q3 What’s the reason for this price? How are you going to solve it?
If you look at the most successful ERC 20 tokens that have increased in value, it is from the actual success of the project. We believe in working towards the success of the project, encouraging a robust open-source developer community and broad adoption for token uses.
Q4 Are you going to list tokens in other exchanges? What are they? When might they be?
We hope that DAV is viewed as an attractive project to everyone. But listing is a specific issue that all depends on the metrics of the bigger exchanges. All exchanges operate under their own procedures and schedules. Exchanges are their own companies and DAV Foundation does not control the exchanges. Also, the DAV Foundation is a Swiss organization. We have to follow Swiss rules. Due to Swiss regulations, the DAV Foundation cannot directly pursue listings. Listings can take months to appear, based on the wishes of the exchange. But DAV has supporters and those supporters who want to see DAV tokens listed on exchanges can work towards that goal.
Q5 What is the profit model of DAV? Is it for profit or nonprofit?
DAV is a Swiss non-profit, in much the same way as Ethereum Foundation is a Swiss non profit. This means that the foundation does not charge fees to its users or alliance companies, which in turn enables to create a much larger ecosystem than for-profit companies. More commercial companies are interested in using a free, open-source platform than a fee-based proprietary one. The value of DAV tokens does not come from the Foundation’s profits. The DAV token value comes from a useful, good open source network for transportation uses. We believe that much like Ethereum, this holds a much larger opportunity than other business models and it involves an open source developers community that actively engages with the network. Ethereum Foundation supports itself through the early token sale, the good value that the network creates that raises the Foundation’s own token value, and conferences and other gatherings. DAV is like the Ethereum Foundation. We have the benefit of Ethereum Foundation experts on the DAV team, including Tung Chan who was the lawyer for Vitalik and the Ethereum Foundation from the day of their launch and Ming Chan who was the first executive director of Ethereum. Ming Chan led Ethereum Foundation to its highest market value.
Q6: For the tokens, except for exchanging and using in dav network in the future, do they have other benefits? Like bonus or stock shares?
With DAV, in much the same way as Ethereum or other top market cap coins, there are no dividends or shares involved. This has been the model from the beginning of the project from the first day. This remained consistent and unchanged since of the first white paper.
Q7: Except for the tokens you sold, are there any other funding sources to help you maintain your future operations in like 3 to 5 years?
The DAV Foundation holds reserves of DAV tokens that are now the assets of the DAV Foundation. We believe when you are successful and the open source network is successful, we will also be successful and our success will grow together. We are confident at this stage that we have what is needed to reach our goals. Swiss foundations like DAV are closely watched by Swiss regulators to make sure we are very careful with our budget.
Q8: Did you dump your tokens after unlocking?
We did not. Even up to today, not a single team member or advisor has received their DAV tokens. Of course, this means not one of them has sold even one token on the market.
Q9: What is the program process? Like App used in phone? I found your app in web and tried to download, but it’s located in Israel , and can’t be used.
Similar to Ethereum, there are multiple layers to DAV:
1. Protocol layer — a common language, enabling P2P transportation agreements and transactions.
2. SDK Layer — open-source developer-friendly tools enabling any transportation company to use DAV with their products.
3. App Layer — specific applications written by our developers, the open-source community, and commercial companies.
You can see the progress we have made so far here: https://dav.network/protocols.html
And here: https://developers.dav.network/
And here: https://github.com/DAVFoundation
As per our roadmap, we are working on a fully-working ride-hailing app to be released by the end of this year as well as other types of applications for next year, such as decentralized bike deliveries, electric vehicle sharing, and even DAV token based loyalty programs for the sharing economy.
Q10: If you are nonprofit, you will use influence to make value, which is difficult. How long are you gonna plan to achieve your vision? What are your advantages?
The non profit model is the one where our success is tied to your success and the success of the open source network. We hold tokens as assets and we only succeed if you also succeed and the network suceeds. A for-profit company model would let the management team possibly take capital out even if shares were low or to chase profits for the short term that could hurt shareholders. A Swiss non-profit is watched by Swiss regulators and cannot do anything that is in conflict with its mission to make the project a long-term success.
DAV success will depend on hard work by a smart and dedicated team with a strong reputation with good ideas and strong skills and the strong DAV open source developers out there contributing to the network. DAV’s advantages are many, including a deeply experienced team and reputable and expert advisors and a dedicated independent developer community. We know how to build technology projects. We are very well connected. We have a robust community of open source developers. Also we are building a network for all to use, like the World Wide Web. We’re not competing with an app — we’re creating a new space for new business in transportation.
Everyone, thank you for your questions, and for your patience while our words are being translated both ways. We must sign off to continue our busy work week with the rest of the DAV team members. Please rest assured that despite the current market conditions in crypto, the DAV team is confident in the vision and the project. Our team is deeply experienced — we have seen market reversals like this before and we have learned that focusing on the project is the key to huge success and a prosperous future.
The DAV network is an open-source network. What that means is that the community can participate in the DAV network and it means we care very much about our community because the community is part of our network. We have the interests of the project, and you — our community — at heart, and despite all the difficulties, bearish markets, and legal limitations, we are 100% dedicated to eventually winning, and making you happy to have been there from day one.