James Ahn’s Letter to the Community
Dear Edenchain community,
The team behind Edenchain has been working hard for the past three months since our massively oversubscribed ICO concluded on 25th May.
Yesterday, Edenchain tokens (“Eden coins”) are finally distributed successfully to all our early supporters and have been unlocked. Market conditions have been less than ideal for crypto assets, but we have decided to unlock our tokens by 3Q2018 as per our commitment to the community and strategic partners.
To us, any promises that we made to the community should be upheld and we will continue to do our utmost best to be a global leader in driving the advancement of blockchain technology. With that being said, my vision for Edenchain is to become a sustainable blockchain project delivering value to our long-term supporters. Among cryptocurrency communities, there seem to be a belief that the value of crypto projects would fall in the long run. However, our goal is to buck that trend and remind people of how good projects — such as NEO (previously Antshares), Stellar Lumens, and Nano — can deliver sustainable long-term value to supporters.
Kucoin is the first exchange that Edenchain has partnered to ensure that there is steady liquidity for our tokens to be traded. We have every intention to list on every reputable exchange, including Korean-based exchanges, to ensure that our global community can have access to a safe exchange where they can purchase Eden Coin for their use.
A key belief of Edenchain, that I cannot stress enough is that we want to deliver sustainable value, through steady and incremental developments on both technology and business development. This includes our plans for listing on exchanges and our ambition to grow communities around the world. Edenchain will continue to build on strong foundations and to gradually bring the project to much greater heights.
A key motivation for us to unlock the tokens is also to enable continued growth in the Edenchain community. Edenchain tokensale was oversubscribed by more than 40 times of our hardcap. In the past few months, many of our supporters have expressed desire to be a part of the Edenchain community and wanted an opportunity to own Eden Coins.
Now, with the launch of our testnet on 21 September, Edenchain will start to host and create dApps on our platform for testing. Many of our strategic partners will be the first to gain access to the testnet and ensure that Edenchain platform can achieve the high standards needed to become a world class, enterprise ready blockchain solution. Having actual users building on the testnet is a crucial step to know what the real performance of the Edenchain platform.
After testnet launch, Edenchain will also post a public repository of our Github for the community to gain access to several APIs and resources that would be needed for them to use the testnet. Parts of Edenchain will remain in our private repository as we are not an open sourced project for security reasons. We will also be posting a demo on our testnet for our general community to experience using Edenchain.
The next steps for Edenchain is to generate real demand for Eden Coin through the creation of use-cases and popular dApps to be used by the community. We see that the blockchain industry will grow in maturity and that hype alone will cease to drive prices for crypto assets. As such, we will be working intensely to develop use-cases and dApps that will drive real demand for Eden Coin.
We have also been carefully pondering on the structure of masternodes and we are happy to say that we will be able to deliver the proposal for masternodes by mid-October 2018. The proposal will include details on how the community can participate, expected yield from operating a masternode, and how we will reward early supporters of Edenchain through exclusive masternodes with enhanced yields. We look forward to hearing feedback from the community about how the masternode structure can be improved upon.
I sincerely thank our community for the support and patience that you have shown us, and we hope that you will continue to support Edenchain as we look to achieve our vision of enterprise adoption of blockchain technology.
Yours sincerely,
James Ahn
CEO, Edenchain
