Recap — Talk to the team, 31st of May 2022
Today, 31st of May, 2022, Daniele Mensi, Managing Director of DigitalBits Foundation has updated the community through the monthly Q&A “Talk to the team”.
Daniele Mensi:
Hi guys, here we are again!
Admins will pause the chat, pause the new member welcome message and post the following
Welcome, all to the second Talk to the Team event. I will be here for the next one hour to answer all of your questions. Shortly the chat will be unpaused briefly, once the first 5 questions have been posted the chat will again be paused to give the team time to answer. Once Answered the chat will be unpaused to allow for more questions. Once the questions have finished or the one hour time is up the chat will be unpaused and the team will stay for a further 10 minutes for general chat.
During the main question time, we ask that no general discussion takes place for clarity.
Are you ready?
Let’s go!
Q: Is the mainnet fully tested or is it still in process?
A: The DigitalBits blockchain mainnet is fully operating. It has been for a while. You can see this with organizations like Fireblocks recently announcing that they have completed their integration of the DigitalBits blockchain. Any Fireblocks customer today can custody mainnet tokens and any fungible token and NFT minted on mainnet using the Fireblocks platform.
Q: Is the team working on integrating any well-known NFT marketplace or metaverse dapp ? Today these dapp could be working on Ethereum but not happy with gas fees so may welcome having an alternative second chain like DigitalBits or completely migrate. This is very important to move existing mature communities towards DigitalBits ecosystem and create more adoption. If yes, Can we see some completed integration within Q3 ?
A: Yes and Yes
Q: Is ZUSD and DigitalBits ecosystem ready to comply with existing EU branded crypto and branded stablecoin regulations? Will ZUSD be backed by real usd?
A: The Zytara dollar (ZUSD) is already backed 1-to-1 with USD held in custody with Prime Trust, a regulated financial institution. It has been this way since day1 when it first launched. The Prime Trust account is also reviewed by a renewed CPA firm that provides monthly reports.
Q: Could we expect any branded stablecoin and/or brand loyalty points program to launch in Q2 ?
A: We assume you refer to Q2 2022. There are many ongoing developments, however, I cannot comment on one launching on June 22.
Q: For the Chili platform, will people be able to pay via XDB mainnet or ERC-20?
A: We are excited to see Chili.com become the first European video-on-demand platform to accept cryptocurrencies as a method of payment. Milestones like this are contributing to the path forward towards driving mass adoption. This launch is set for June 15th and will initially start with XDB ERC-20. The payment processor (CoinbarPay) will have this also followed by adding XDB mainnet tokens upon completion of the token swap.
Q: Can we expect any form of staking to come soon?
A: As mentioned in my previous “Talk to the Team” on April 29th, a staking-like program is expected to be announced in Q2. This will also be followed by the announcement of a 2nd program shortly after. Thanks for the encouragement! Indeed we all keep up😁
Q: Will the next NFT drop be possible with XDB token? keep on your hard work👍
A: There have already been a few NFT drops and in-stadium NFT giveaways that were minted on DigitalBits blockchain. On a separate note, I am also pleased to report that the Hyprr team has informed us they are adding XDB as a payment method. They have informed us that this process will be completed by Q3.
Q: Which rules apply to becoming a validator?
A: Anyone can deploy and operate a validator node on the DigitalBits blockchain. Like with any other blockchain, a minimum level of technical expertise is required to deploy and operate a validator node (or participate in mining if this were PoW like Bitcoin).
Q: About the staking program, we are waiting for it in Q2. How the program will work and if you can tell us the APY, thanks for everything!
A: You will need to wait for the official announcement in June by the ecosystem. We cannot prematurely discuss or disclose any detail, especially since this involves an ecosystem partner.
Q: Timeline-wise, is the token swap weeks away or months away?
A: Upon the participating exchanges confirming that they have completed the DigitalBits mainnet integration, an announcement will be made with details including dates. We cannot state a specific date at this moment because the participating exchanges need to first complete their technical work. The latest crypto exchange to confirm participation in the token-swap is DigiFinex, as you can see by their announcement here: https://digifinex.zendesk.com/hc/en-us/articles/6752267856409--New-Coin-Listing-DigitalBits-XDB-to-Be-Listed-on-DigiFinex-
Q: Has there been any new developments with onboarding new brands to the ecosystem or new brand ambassadors?
A: There are both new organizations and ambassadors that have officially joined the DigitalBits ecosystem. We are excited to see these upcoming announcements soon, including in June.
Q: When will the expected T1 exchange listing be? Thanks for all the efforts you and the team are doing
A: I’m sure that many of you are aware that exchanges have policies that restrict premature disclosure. However, I can confirm that this is a priority and they are actively engaged with us as recently as yesterday to facilitate this process forward. Obviously very exciting!
Daniele Mensi closing statement:
I’m sure that many of you saw the Chili.com announcement this weekend!
Chili.com in numbers is as follows: 5.5million registered users in key countries like Italy, Germany, UK, Austria, and Poland. They have streamed 7m hours over last year with 48m accesses. They have chosen the DigitalBits token along with 3 other cryptos (Bitcoin, Ripple, and Tether) and it is a big validation for the whole ecosystem. Furthermore, during the live speech on Blockchain Week in Rome, the choice of DigitalBits was heavily spoken about during the Chili’s panel as being extremely fast and efficient. This is a huge catalyst to expand the ecosystem throughout retail-based use cases because of the relevance of the Chili.com platform, the markets where they operate, and the criteria they have adopted to select which cryptocurrency to add. We are confident that other platforms will adopt similar criteria.
And one final note..
I’m curious as many of you must also be after seeing this…it sounds like something big is coming! 👀
https://twitter.com/AlBurgio/status/1531559697874096128?cxt=HHwWgMC4gcjbmMEqAAAA
Thank you everyone for joining today’s session and interacting together!
Any further questions will be more than happy to address over the next “Talk to the Team”! #StayTuned
