Distribution of Lightstreams Photon (PHT) Tokens and Upcoming Exchange Listing
And the brief story of how we got here.
Today, I am pleased to announce that the Token Distribution of Lightstreams Photon (PHT) Tokens will occur on July 18, 2019. This will be followed by an exchange listing on July 25, 2019. You will be able to deposit on the exchange on July 24 2019. The official announcement by the exchange will be made on July 22, 2019.
Our mission is to transform the way humans collaborate with technology that puts people in control of their data, money, and assets.
It has been an incredible journey so far and we have achieved so much since our humble beginnings at Consensus NYC 2017, where we won an award for our initial proof of concept.
In just over a year, we created the Blockchain for Speed and Privacy that we had envisioned when we first started. With 50x the transaction speed of Ethereum and near-instant settlement time (3s), our blockchain enables responsive applications that people can use today. Combined with a unique decentralized storage layer called the Smart Vault, we created the missing piece for truly decentralized applications.
From seed to presale
After raising a seed round in January 2018, we began expanding the team and raising awareness for the project in preparation for the Lightstreams Token Sale.
We initially planned to raise $20M to accelerate the development and adoption of our network. We successfully raised $4.7M during private and presale rounds. In a short few months, we were able to turn the prototype into a working MVP by using the Ethereum network as the blockchain layer. Our MVP was comprised of a Decentralized Secure Storage Layer (now called the Smart Vault), an SDK that interacted with the Lightstreams node, and a demo application showcasing the features of the network.
Like many other projects, the market conditions of 2018 affected our roadmap. The public sale (and subsequent ERC20 token listing) planned for September was delayed after we carefully considered the feedback from stakeholders and advisers on the viability of undertaking such a sale at that time. From this point, we decided to accelerate execution on the delivery of the network and skipped doing a two-stage launch (first issuing on Ethereum, then on the Lightstreams network).
From Go-Live to today
On March 31 2019, the Lightstreams’ mainnet had its Go-Live. Since then, we have done exhaustive integration and security testing as we ran the mainnet in a Beta mode in preparation for partners, developers and users to begin using the network.
As we mentioned in a previous post, we had been considering a Launch Pad scenario. After much consultation with exchanges, our legal counsel and observing the results of similar projects, we came to the conclusion that launching on such a platform would put the project and network at risk and was neither desirable nor feasible from a compliance standpoint.
Exchange plans & network adoption
We have been working with a number of exchanges on bringing Lightstreams to a wider audience. As mentioned above, the first exchange on which we will list has provisionally given us July 22nd as the announcement date. In the coming weeks and months we expect further exchange announcements, as we bring more companies, developers, and users to the Lightstreams ecosystem. Of course, increasing network adoption and application usage is crucial for this to happen. We will be focusing our attention on growing the number of use cases on the Lightstreams network as well as showcasing our own applications, such as Fanbase, Passport, and others.
We have been talking with several projects about integrating the Lightstreams Network. Here is a preview of what’s coming next
- Pocket Network — We’re super excited to share that we’re partnering with Pocket Network to help decentralize blockchain infrastructure. Pocket enables developers to easily connect to their application to any blockchain network and from any device. We’ve been collaborating with the team and truly believe in their vision to decentralize blockchain infrastructure. We’ll be publishing a longer blog post detailing this partnership and the numerous benefits to both Pocket and Lightstreams users shortly.
- Portis.io — Lightstreams will soon be added as a network on the Portis Wallet. Portis is a platform for making decentralized applications accessible to mainstream users. It offers developers an SDK that they can integrate into their DApp to make it familiar and easy for their users, just like using a regular web app. Users can also purchase additional crypto straight to their wallet using their credit card. Finally, developers enjoy additional features to improve their DApp UX, such as “trust this dapp”, gas relay, (analytics coming soon) and more.
MyEtherWallet support is coming
Just yesterday, we submitted a Pull Request (PR) to the MyEtherWallet (MEW) repository to add support for the Lightstreams Network directly from the web interface. We’re hopeful it will get integrated soon so that people can start using MyEtherWallet to make transactions on Lightstreams.
Additionally, our infrastructure team also successfully ran a full security audit and no security issues were found, which means that the infrastructure is ready for prime time!
Marketing relaunch #Lightstreams
We’ve been working hard to reposition Lightstreams as a network that is relevant to mainstream users, not only crypto-enthusiasts. This effort will translate into a new website that will be launching in the upcoming weeks. We’re excited to get feedback from the community and will be sharing some previews on our Telegram group and on Twitter, follow us there to get access to the latest information. We’re also launching a bounty campaign on Bounty0x and will release more information about this next week.
Lightstreams Governance Model
Today, we also published our yellow paper for the proposed governance model of the network so that it can be reviewed by the community and peers. The paper expands on certain aspects outlined in the Lightstreams’ white paper with a focus on creating a decentralized governance structure where users of the network are given a voice in deciding the direction and future development of the protocol. We would love to hear your thoughts and feedback on this. Read the Lightstreams Governance Model.
Last but not least
A lot people from our community have been supporting and following us from early on. To everyone, we would just like to take the opportunity to say THANK YOU. Thank your for your patience. Thank you for your continued support. A new chapter begins. We really believe we can make an impact. Now is the time for all of us to get the word out and show what an amazing project and core community Lightstreams has!
Still have questions?
How do I claim my PHT Tokens?
After distribution occurs, you should follow the instructions available here.
What’s the final Token Sale allocation?
The final Token Sale allocation numbers will be published on 16 July 2018.
What exchange will you list on?
The first exchange on which we will list has provisionally given us July 22nd as the announcement date. We will publish a formal announcement on this date.
Are you going to list on exchange x, y, or z?
In the coming weeks and months we expect further exchange announcements, as we bring more companies, developers, and users to the Lightstreams ecosystem.
Please clap and share the article if you liked it! You can do more than one clap :) And if you want to get the latest information about our project, subscribe to our newsletter.