Newsletter — 2–20–2017

Dear followers of Vega,

I would first like to start this newsletter with a thank you to all that have taken an interest in the project and those who have helped us so far. This newsletter will provide a reflection on the past few weeks and a summary of our plan for the coming week. Before you begin reading, I would like to share a quick quote that I think is really highlights, in a simple way, what the potential of new decentralized technologies can bring to the world we live in.

“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.” — Vitalik Buterin

A Quick reflection

It has only been four months since William and I decided to commit ourselves to build what we believe is something truly important and needed. I have worked on several projects throughout my life, and I was amazed by the high level of interest and enthusiasm from the community that Vega garnered compared to my other projects. The past two weeks have been especially busy for the project as we have exploded in terms of exposure and followership.

Last week, we formally introduced the project on Reddit and the post gained quite a bit of attention. We have been constantly developing and refining the Vega White Paper, and have decided to release a first draft of it on the website. Last week, Luca Sabia — a former blogger for the Financial Times — reached out to us for an interview on Vega and our thoughts about crowd-equity funding. You can find the interview on his alternative-finance blog, OLIVER. Finally, a few days ago Token Market.Net decided to list Vega on their list of digital assets.

We are actively looking into providing updates through Token Market.Net, therefore we recommend if you are interested in upcoming events to follow Vega on Token Market.Net to receive those updates.

The present

We are currently developing the Vega Token and Developer Funding Initiative contracts. In addition to contract development, we are starting to model possible expected outcomes of token distribution and valuation (more coming soon). We are also looking into the possibility of certain legal structures for the project.

The future

William and I have decided that the most critical aspects of the project to build out right now are the Developer Funding Initiative and a smart-contract system that can handle asset liquidation from the fund via a decentralized exchange. In addition to this development, we are going to put together a clear picture of development costs to prepare the project for an ICO, which is likely to happen close to the summer.

We are looking forward to making more exciting announcements very soon. Please, email or Slack any questions or feedback to us, as reflection and revision are the most valuable parts of creating a successful venture.