It has been a massively busy month here at Unification central, listing on 3 major exchanges with enterprise and tech being developed under the hood, sometimes we forget to take a moment to breathe and stop to update our amazing community on what is going on behind the curtain — This update will come from the perspective of CEO and try to lay out all of the moving parts we are juggling to move this mountain.
The 3 aspects that blend into our daily efforts are centered around
1- Exchange/Token stuff and current metrics
2- Enterprise stuff
3- Tech Stuff
We can take some time to give full updates on each of these subjects. If you have been following every single piece of information we produce, some of the below may be redundant, however we think it is good to have it all neatly summarized in one piece
This is likely where you have seen most of our movements — earlier in Feb/March both Digifinex and IDEX informed us that they had listed the United Network Distribution (UND) token on their platform and it was trading through those months with a very limited amount of volume and circulation.
In an attempt to further distribute UND so that it would be available for MasterStakers to accumulate, it was arranged that it would be listed on Bitforex with an initial distribution. This has succeeded in putting a little over 30million UND into circulation out of a total of 1Billion.
Many people are asking us everyday “do you have plans for more exchanges?”
We are the evangelists of United Network Distribution and our job is to make UND as accessible as possible. There are numerous conversations in place which will lead to making UND more accessible for all. That is all I can say on this particular subject! You can of course keep an eye out on CoinMarketCap for updates
More interestingly there has been much talk in our telegram on the exact details of Circulating supply. This is understandable because math is always king. Token purchasers want to know exactly how much is in the market, how much will be released when and who owns what. This way they can do their proper calculations and assist in fair market discovery and plotting to become a MasterStaker. So there are a few topics to cover here:
First off is Circulating Supply. This is a script a community member uploaded to our github that is based off of the math presented here on this page. What you see on that page should be the current Circ supply.
To break it down into plain English, as of right now we have 15 COLD wallets and 2 HOT wallets- When UND tokens get moved out of HOT wallets they get put into circulating supply. Typically what happens is they will be moved in bulk to a feeder wallet for ATD and then be distributed slowly from there (more on that in a moment). So you will see ATD tokens technically in circulating supply before they actually hit anywhere. This means practically the stated circ supply will be much larger than what is actually in rotation.
If you have had a chance to read the original article on ATD — it is presented that ATD only activates when the market is healthy and there is significant cross exchange arbitrage. So I can tell you very directly as of right now there is no intent to start ATD anytime soon.
To state clearly we are raising a child with UND and the purpose is to create a long lasting healthy environment — the foundation has no need in the near or medium future to sell off more tokens to the open market. To put it in perspective, as of the writing of this article there are approx 30m+ tokens in circulation mathematically out of a total of 1 Billion — or about 3%+ of the entire supply. If you compare this to nearly every single project — that is a vast fraction of the supply in circulation. As of right now the market cap is barely 1.5m USD.
To the direct question of “when will you start ATD” — we will announce when we do, however do not expect it to be anytime soon (meaning in the next 3–6 months). Practically it only works when there are massive amounts of cross exchange arbitrage happening in real time via APIs. As this is not close to happening, we can say that ATD is not close to happening.
There is one more metric that needs to be declared — On May 30th there will be an increase of approx 3.5m to the circulating supply and on August 30th another approx 3.5m -these are the only further scheduled hard releases that are not ATD. This practically means that approx 96% of the remaining token supply after August 30th will only be released on controlled ATD drip.
The next topic that came up during an impromptu telegram AMA recently was the matter of MasterStaking and “house wallets,” a community member was asking if house wallets would be used to MasterStake one of the 96 nodes- they particularly wanted to know if the community would be competing against the house for rights to stake.
The first and only real answer is that anything in circulating supply can be used to MasterStake so if it is in circulation then it “can” be staked whether by the house or by someone that acquired the tokens in whichever way.
The follow up answer which is more of an opinion and not backed by math, but needs to be said regardless is that the house has no need nor interest in collecting block rewards. To put it plainly the house has more tokens than they are able to healthily distribute to the market so there is really no reason to accumulate more. That being said, if for some reason the “house” does stake and claim a few masterstaking nodes they will be clearly declared and we will work out a system where the block rewards collected by the house are redistributed back to the community in a fair way (the purpose of the house masterstaking will not be for collecting block rewards, but for other possible and still to be defined purposes).
We are working on a master spreadsheet which will track in real time all of these movements. It likely will be released around the same time that ATD distribution begins. If you read this aspect and have productive ideas or implementations on how we can improve transparency, please get in contact and we can work together to improve visibility for the entire community.
2 — Enterprise Stuff
The Enterprise team is working hard on a few initiatives that we can tell you about and a few that we have to keep under NDA for the moment. You have likely heard already about our Brazil health care initiative. This will actually be covered as a feature article in a major tech magazine in the next week and enter a proper news cycle.
The summary is that Unification, in conjunction with INLAGS (Latin American Institute of Health) are creating a public/private WRKChain to consolidate EHR (Electronic Health Records) via a consortium in Brazil that puts patients in unilateral control of their data. This means that patients have unilateral control over their health data and can freely share/revoke that data to various health providers. To learn more about the deep tech behind this initiative we recommend reading our identity paper focused around DiD and HAIKU.
The other main initiatives we cannot publicly comment on just yet, however what we can say is that numerous amazing things are in progress, including an A-Level partnership in Korea that will likely put us ahead of the pack. Ultimately the end goal of the Unification ecosystem is NOT to have us handhold and “partner” with every single client. This is born out of a need and necessity because of the youth of the network .
Currently we are developing out a training and certification protocol for CWIE’s or Certified WRKChain Integration Engineers. Remember that UND is an open source platform and technically anybody can do anything they like with it. Just in the same way that Linux is an open source platform .
The next Phase of our growth will be aggressively pursuing systems integrators in a swath of industries and educating them on how they can add WRKChain integration to one of the line-items they offer clients. In this way we remove the glass ceiling on scaling and open it up to the limitless and beautiful possibilities of n+1
3 — Tech Stuff
Much happening on our Github and our dev team is small but focused. Being involved in software development for over a decade, often times we have found that more team members doesn’t always mean more productivity. That being said there are 3 specific movements in progress in our tech dev environment
i — The WRKChain SDK and deployment — This is the bulk of the work happening as of right now (it could have changed by the time you read this) and involves a package that will allow devs to easily deploy and configure WRKChains
ii — Mainchain — Foundation pieces are in place and we expect a public deployment Q4 2019
iii — Tech community and outreach. I talked with our CTO the other day and asked him about starting a developer Discord to interact and engage with community members and he said that it is a good idea but he did not want to manage it as that is a job in itself and he would have to choose between managing the community or being hours in his coding cave producing great code.
There is not time for both. His concerns are valid and we are currently in process of hiring a community tech liaison whose job it will be to actively manage the github commits and establish and work with a community on Discord. If this role fits you, then please get in touch. It obviously is a role that requires some technical coding ability and ability to navigate around the various communities. Hiring for this role will also allow us to make more comprehensive tech updates- those in development know that explaining what you are doing coherently to outsiders is almost just as much work as actually doing it!
4 — The Road Forward
So much to do, even this update is a fraction of what we can say and what we can’t (yet) say. Just know that you are in the right place. We are on a multi-year roadmap to make UND the most widely adopted public/private chain in the industry. We don’t expect this will happen magically because of “good tech” or because of “vague partnerships” as we see with many so called projects.
For Unification a “partnership” doesn’t mean anything — what means something is if this partner is
a- paying our enterprise division real fiat currency to build and integrate a WRKChain
b- an enterprise has deployed a WRKChain and is actively using and spending UND as tax to access the network.
These things move the needle and matter because it is actual use. The dawn of blockchain adoption is not far in the future, it is here and now.
Moving forward, we will be in NYC in May for Blockchain week for Consensus and the Ethereal Summit and then over to Malta after that.
Get in touch — we are in this together.
- Neyma Jahan, CEO, Unification
- You can follow neyma at http://www.twitter.com/neyma
ATTN: Press — Please visit https://unification.com/foundation/resources