Exploring Adeno Token: Insights from our first AMA

Last week we had our very first Ask Me Anything (AMA) session at Weaver Labs, and it was awesome! During the session, our founding team (Anthony, Alex and Maria) dived deep into the core of Adeno Token, our crypto that’s all about blockchain and Telecommunications coming together. Here we shared some valuable insights about Adeno’s role in the telecoms industry and our exciting plans for the network’s future. Now, we want to give you a quick recap of all the cool stuff we discussed during the session and shed some light on how Adeno is going to rock the Telecoms sector!

Tokenomics Overview

The network is built on a node-based structure, with nodes providing and consuming resources (access, transport, compute, storage). Participants’ work in the network, known as “resource mining,” is rewarded through block rewards, ensuring miners and contributors are compensated for service provisioning. All state changes, including rewards, consumption, and service provisioning, are publicly verifiable through the global ledger.

Token Allocations

We have allocated tokens to serve two main purposes:

• Resource Mining: The majority of tokens are allocated to incentivize healthy contributions of “work,” which involves resource mining or service provisioning.
• Mining Reserve: This allocation is intended for incentivizing future work on the network, allowing flexibility in defining work and ensuring appropriate rewards for all contributions.

Participants in the Network

The network encompasses several key participant roles:

• Developers: Contributors to the network through code, protocols, and clients, as well as problem solvers in integration, security, and network applications.
• Node Operators (Resource Miners): Actors who provide network storage, compute, and transport for consumption.
• Verifiers: Network nodes responsible for ensuring consistency in network resources over time, essential for upholding Quality of Service (QoS).
• Token Holders: A broad category including miners, users (consumers), or anyone holding ADENO tokens in their wallets. Token holders can promote the network through social engagement, and awareness, or participate in governance proposals.
• Users/Consumers: Entities that consume network services and pay for them using ADENO tokens.

Token Inflows and Outflows

Adeno tokens enter the network through two primary mechanisms:

• Unvested Over Time: Tokens are gradually released over a specified period, and used for bootstrapping the project.
• Mining: Tokens are minted as a result of mining activities, which occur in three distinct phases.

Token Inflows (Phases):

• Phase 1: Promotes network adoption with time-based rewards, using a modified exponential decay model.
• Phase 2: Rewards network capacity in computing, storage, and transport, encouraging resource contributors to maintain high-quality service provision.
• Phase 3: Promotes network utilization, with blocks and rewards increasing based on network usage. Sustainable monetary policy is implemented by inflating the token supply as the network is used.

Migration to Mainnet

We plan to migrate to our own mainnet in the future, building on the lessons and insights gained during our time on the Ethereum network. This migration will provide more flexibility and control over the network’s functionality and features.

Staking and Mining Rewards

Currently, staking is not considered a means of work in the network. Rewards are primarily given to resource providers (node operators) for maintaining the network’s integrity and performance. However, we have the mining reserve that is there for future cases that we see appear, so we don’t rule out staking completely, and we may introduce it in the future.

Pre-Sale

The pre-sale process involves registration, wallet connection, KYC approval, token purchase, and token claim with an 8-month vesting schedule.

Token Issuance

We have reserved pre-mainnet rewards to test the consensus before the migration.

Addressing Regulatory Scrutiny

We have followed the processes recommended to undertake a public issuance of a Token, including conducting several Legal Opinions that classify Adeno as a utility token. We have also looked closely into allowed jurisdictions and removed the public sale from those that present a high-risk to the company. When establishing a corporate structure that allowed us to follow regulation as well as tax compliance we have relied on our experienced advisors in transfer pricing.

Business Model and Adoption Strategies

We aim to foster adoption by engaging with the industry early on, building trust in our brand, and offering innovative solutions to industry problems. Our business model includes taking transaction fees from the network, licensing fees for enterprise usage of Cell-Stack (their OSS/BSS tool), and other revenue streams like Record and WireMQ.

Challenges and Competitive Edge

We acknowledge challenges like delivery, conversion into operational adoption, and slower-than-anticipated adoption rates. Our strategy involves smart project selection, working closely with partners, and showcasing benefits to ensure sustainable growth. Competitors range from large-scale OSS/BSS platforms to smaller orchestration tools, but we distinguish ourselves with its unique, blockchain-based approach and marketplace integration through Adeno.

Conclusion

Our first AMA with our co-founders provided invaluable insights into Adeno and its potential impact on the telecoms industry. The innovative approach of incentivizing network participation and resource provision through Adeno mining, coupled with future migration plans, showcases our dedication to driving real-world adoption of their technology. As we continue to evolve and build our own mainnet, the future looks promising for the Adeno token and the transformative impact it will have on the Telecommunications sector.