Sesameseed — The Path Forward
Changes to SEED are coming !
- Sesameseed’s message of “Set it and forget it” is changing effective immediately.
- The time of asking SEED holders to be patient while Sesameseed focuses on Unifi is coming to an end. Be a part of the discussion of the changes to come.
- The trust invested by the Sesameseed community during the development of the Unifi Protocol has allowed for needed development.
- Changes to SEED are coming. These changes may require timely action on the part of SEED holders to achieve the maximum benefit. SEED holders should watch Sesameseed’s social media channels closely for announcements.
- Join Sesameseed’s social media channels that will have updated SEED information. Sesameseed’s Telegram, Twitter, Reddit, and Medium.
- Sesameseed’s commitment to SEED’s redeem value is strong.
- For any community members who are concerned about potential upcoming events, SEED continues to be redeemable through the existing process.
- Sesameseed strongly discourages taking speculative action based on this announcement.
What is Sesameseed working to accomplish?
Something we at Sesameseed have always been proud of is the way our journey began. In April 2018, a Reddit post and a Telegram post started it all. At that time, more altchains were emerging, and many were offering staking rewards for their native tokens. Sesameseed’s founders were drawn together by the realization that without community-first-style innovative solutions, blockchains and their governance would be dominated by corporate entities.
These corporations would be far from their community, and likely represent only their own interests. As in traditional business, this would make the individual person into a customer. Customers have the goal to protect their own interests, while the business has the goal to take as much as possible from the customer. This is not the type of relationship Sesameseed wanted with the community.
Many projects create restrictive systems where as more people join, the individual does worse and worse. This becomes a race where individuals try to take as much from the system as possible before leaving. They race to see who can leave first as those who are stuck until the end often do the worst. This lack of mutual respect creates an environment where the individual is alone in their goals, often only winning because someone else had to lose.
At Sesameseed, we build systems where as the individual does better, so does the community. This allows everyone’s interests to align behind the common goal of everyone doing better, and it incentivizes the community to grow. Our community is one of the strongest and long-lasting communities of its type, and is still growing to this day. This cooperative philosophy has created a community who helps each other in ways other projects can only dream about. It also inspires the type of trust shown by SEED holders during challenging times.
Like any project that is growing and innovating, Sesameseed and SEED had their challenges. Sesameseed’s multi-chain SEED Minting and Distribution System was a first of its kind way to share cooperative rewards to communities on multiple blockchains. Working under Sesameseed’s value of aligning the goals of growing communities, each blockchain added became part of the success of SEED. Each addition made the community stronger, and further diversified the rewards for all.
Unfortunately, SEED proved it could not ccale as fast as was needed to take advantage of available opportunities. Fortunately, Sesameseed had planned for ways to preserve available partnership opportunities for future use within the Node Operations Model. Under this model, partnerships with major blockchains were established. Test nodes were launched, and several test nodes are currently in operation today. Test nodes benefited SEED holders and the community by providing Sesameseed resources to continue to grow. This was far from an ideal solution as it did not directly include the community as a part of the solution. A better solution was needed. So more Sesameseed-style innovative development began, with a longer term goal in mind.
The Unifi Protocol — a path to growth
Sesameseed saw there was a need to create new processes and develop new utilities. It was clear that additional growth, support, and partnerships were going to be needed to move the Sesameseed community forward. Capitalizing on the years of experience gained, Sesameseed seized an opportunity to secure the future of the organization by creating the Unifi Protocol in late 2020. Unifi immediately opened doors for Sesameseed to create beneficial partnerships with blockchain industry leaders, developers, and exchanges. Sesameseed was recognized for its hard work as it partnered with Binance. UNFI token’s Launchpool listing launched Sesameseed to join a community of the most successful blockchain companies in the world. The Sesameseed team grew, allowing for even more innovative solutions to emerge.
It became clear very quickly that building the new systems, partnerships, and technology to advance SEED could not be accomplished efficiently without change. The amount of manual labor involved in the historic SEED vote tracking and distribution model prevented resources from being focused on the path forward. In February of 2021, Sesameseed announced a revised SEED distribution process. This revised process has paid large dividends, allowing for rapid behind the scenes development that will allow forward growth of the Sesameseed community.
Which brings us to the road ahead
The time of asking SEED holders to be patient while Sesameseed focuses on Unifi is coming to an end.
Sesameseed currently is considering multiple opportunities for organizational growth. These opportunities will result in the advancement of the Sesameseed community into a new future with a new vision for growth. These paths were made possible by the community’s continued support, and the benefits brought by developing the Unifi Protocol. Since Unifi was launched, Sesameseed went from an all volunteer organization, to having several full-time team members.
In short, the development of Unifi has been a great success for Sesameseed. The time of asking SEED holders to be patient while Sesameseed focuses on Unifi is coming to an end. Sesameseed is active working towards making SEED holders a part of Unifi’s success. The community is encouraged to be a part of the coming discussions on how that will be accomplished. This process will require the community’s involvement, and timely SEED holders action.
The first step in this process is Sesameseed immediately ending the policy of SEED being a “Set it and forget it” project.
The opportunities currently being explored could include the need for a token exchange, or other actions and choices made by SEED holders. In the coming days and weeks, Sesameseed will be providing more information on the result of these opportunities and how they will impact SEED holders. This is likely to result in the largest ever changes to SEED, even more impactful than when SEED went multi-chain.
For now, there is one very important message Sesameseed wants to ensure is heard by the community. Changes to SEED are coming. These changes may require timely action on the part of SEED holders to achieve the maximum benefit. SEED holders should watch Sesameseed’s social media channels closely for announcements.
The links to these channels can be found at the bottom of this article.
Sesameseed remains true to its promises
Sesameseed would like to remind the community of some important points:
Sesameseed has NEVER sold SEED tokens. All SEED tokens in existence were earned by community member’s actions to participate in the SEED ecosystem.
Sesameseed’s fundamental and most sacred promise to the community has been the redeem value of SEED. Sesameseed’s focus has always been SEED’s redeem value, and that is where our focus remains. For any community members who are concerned about potential upcoming events, SEED continues to be redeemable through the existing process.
Sesameseed has actively declined to discuss or endorse the trading value of SEED. SEED is intended to be earned by community participation. Sesameseed is very aware fo the trust placed in it by the community. Since we do not know the final outcome of this interactive process, Sesameseed strongly encourages the community to not take speculative action based on this announcement.
Blockchain and the Sesameseed ecosystem has changed dramatically since Sesameseed started. Because of this, Sesameseed is making a monumental change to one of its fundamental policies, Set it and forget it. Effective immediately, all Seed holders must watch for announcements and changes coming. For any community members who are concerned about potential upcoming events, SEED continues to be redeemable through the existing process using Sprout.
The intent is to bring SEED holders into the success of Unifi Protocol in a more direct way. To achieve this, Sesameseed must be able to adapt more quickly, which is why we are removing the “set it and forget it” policy.
Sesameseed does encourage community members to remain active, continue to stake to Sesameseed nodes, and to be a part of the coming discussions.