XYO Network GAMMA Sale Mission Status: COMPLETE!

Scott Scheper

Published in

XYO Network

18 min readNov 30, 2018

Blockchain Hacker HQ
1133 Columbia St.
Second Floor
San Diego, CA 92101

From:
Scott Scheper
email: scott@xyo.network
telegram: sscheper

Friday, 8:19 a.m.
November 30th, 2018

Dear Friends & XYO HODL’ers!

The GAMMA Stage XYO Token Sale is officially closing tonight at midnight!

Some stats:

Over 580 Million XYO Tokens sold during GAMMA Stage Sale!
Over 1,700 people have participated in the GAMMA Sale!
1,700 people now HODL XYO (people who otherwise would not have!)

It also helped the XY Team grow over these past 6 months to continue building the XYO Network.

The GAMMA Stage XYO Token Sale was important in rolling out a healthy XYO Network ecosystem. Let’s face it, though. When the XYO GAMMA Stage Sale launched on May 21, 2018, it was a controversial one.

Yet, the community rallied behind us. It took a little time, but you realized our goal is one thing: XYO universe domination.

No seriously.

Our goal is to create an INTER-PLANETARY decentralized location network… Powered by YOU — our community. Our XYO Founding HODL’ers. OUR PEOPLE!

With the way the cryptocurrency market has turned out in 2018, the GAMMA Stage Sale proved to be a success. In fact, it was a key factor in us THRIVING during this 2018 Cryptocurrency Bear Market.

It created a larger ecosystem for the XYO Network. It also provided our team with the resources needed to make the XYO Network Built-to-last!

Courtesy of XYO Community Member, PizzaMind

Average companies die in tough times.
Good companies survive.
Legendary companies get better.
XYO continues to get better. Period.

But before I write another word, I need to get you up to speed.

I need to SHOW YOU PRECISELY WHAT the GAMMA Stage Sale helped us to achieve here at XYO Network:

Listed below is our month-by-month breakdown of what our team has achieved:

June 2018

XYO Network team grows to 20 full-time people! New key hires include: Head of Design, Data Scientist, Head of Marketing Operations, Head of Talent, Three Blockchain Developers, Developer Evangelist, Front-end React Web Developer and More.
User Adoption Stats: 15,000 Email Subscribers, 1,038,455 Unique Website Visitors, 847 XYO Gamma Platform Users, 2,381 XYO Geomining Hardware Device Users (Bluetooth Beacons):
Detailed Posts on June 2018’s Progress: https://medium.com/xyonetwork/archive/2018/06

July 2018

XYO Network partners with three companies: 1) China’s CAS Smart City. CAS Smart City, which features some of the greatest minds from the Chinese Academy of Sciences, provides the intelligent platforms keeping smart cities running as smoothly as possible. 2) Ryzgo, a trust and security company to remove the doubt and uncertainty of using decentralized blockchain apps (dApps) for lending and extending credit, trading goods and services. 3) CYBR, a cybersecurity company boosting the safety and security of blockchains, smart contracts, and cryptocurrency transactions.
XYO Network integrates “LayerOne” into its Geospatial Blockchain stack. XYO integrates “Quadhasing” protocol. A Quadhash is the fastest, most versatile storage protocol for saving locations on the blockchain. On the blockchain, every Bit counts, and location storage needs to be fast, efficient, and precise.With Quadhashes, everything about a location can be packaged into a single unsigned integer.
XYO Network introduces breakthrough caching technology for use in Geodapps.
XYO Network releases new dApp library for React Apps. When we first started building the app, we tried a new React-Blockchain library called Drizzle. After weeks of trying to figure out how to make Drizzle play with our redux architecture, we decided to roll our own. The gist of it is simple — on app load, create a singleton instance of web3. This can be modified to be anything which talks to the blockchain, such as MetaMask and Portis.
XYO Network releases a new dApp deployer for Web3 dApps. Development tools are lacking for blockchain developers. The Dapp Deployer is a program for building, migrating, and deploying your smart contracts. It also imports them with deployed configuration into your React project.
XYO Network hires more team members: a Senior 3D Animator (for Geodapp Games built on the XYO Network), a Senior Copywriter, a Content Writer, Product Manager and Consumer Hardware Manager.
XYO Network hosts a sellout Meetup AMA with ConsenSys on Location Technology and Digital Identity.
Detailed Posts on July 2018’s Progress: https://medium.com/xyonetwork/archive/2018/07

August 2018

XYO Network launches “dapploy” — a one-click dApp Deployer. Here is the blog post and video explaining dapploy: https://medium.com/xyonetwork/meet-dapploy-our-one-click-dapp-deployer-b170cbc8645b
Here is the Github code for dapploy: https://github.com/XYOracleNetwork/tool-dapploy-nodejs
XYO Network launches Archivist White Paper. In order for the XYO Network to operate at greatest efficiency, data must be distributed amongst many platform users and components must work together with little redundancy in their tasks. (Post and Video Explainer on this can be found here: https://medium.com/xyonetwork/white-paper-cooperative-data-handling-in-the-xyo-network-64fcf985a945)
XYO Network releases Yellow Paper, which lays out in detail how the XYO Network protocol works (Detailed here: https://medium.com/xyonetwork/xyo-yellow-paper-network-implementation-and-the-sharing-of-binary-data-797d2f0ac9a1)
XYO announces its first annual conference to be held November 9–11th called “SPATIAL”. This conference aims to bring together the XYO Network community and grow BOTH the Geospatial Blockchain ecosystem AND mainstream blockchain adoption.
XYO Network partners with three companies: 1) Blockchain In Transportation Alliance (BiTA). Blockchain in Transport Alliance (BiTA) is fleshing out the rules, protocols and standards of how freight and blockchain will play together, and SAP, UPS and FedEX are a few of the alliance’s 445 members in 23 countries. 2) Anyledger. Anyledger has created a digital wallet for the blockchain. It connects physical objects to the blockchain — any blockchain — so these objects can exchange data, value, and information, and use smart contracts. 3) XYO Partners with MOBI (Mobility Open Blockchain Initiative, the consortium designed to create the blockchain rules for the future of transportation. By partnering with MOBI, XYO Network joins BMW, ConsenSys, the World Economic Forum and other global brands to make mobility of the future greener, safer and more accessible.
XYO Network headcount grows to 36 Full-time Employees. New hires include Customer Support Manager, Sr. Android Developer, Head of Communications, Head of Social Media and Business Development Manager
Detailed Posts on August 2018’s Progress: https://medium.com/xyonetwork/archive/2018/08

September 2018

XYO Network launches the Kotlin Bridge and Sentinel SDK. This Bridge and Sentinel SDK allows you to create a history of your interactions in the XYO Network. In fact, in the words our hard-working, genius Blockchain Developer, Carter “Big Head” Harrison, who is the exact opposite of the same-named character in the show Silicon Valley, this SDK not only works on all Java devices, it allows one to create your own origin chain. Blog post here: https://medium.com/xyonetwork/introducing-the-kotlin-bridge-and-sentinel-sdk-3c000070c730
Github source here (https://github.com/XYOracleNetwork/sdk-core-kotlin)
XYO Network launches two new sites for its community: 1) A hub for our XYO Network community (https://community.xyo.network/), 2) XYO Developers Hub (https://developers.xyo.network/)
XYO Network launches its C-Core SDK. This library takes care of the logic for Bound Witnesses and the logic for Networking. Blog post here: https://medium.com/xyonetwork/introducing-xyo-c-core-sdk-turn-your-iots-into-nodes-fe9467870c77
C-Core SDK Github Repo here: https://github.com/XYOracleNetwork/sdk-core-c
XYO Network launches 5 new partnerships: 1) XYO Network partners with Portis for its use in XYO Network Geodapps. Portis connects dApps right to the Ethereum blockchain right in the web-browser (WITHOUT needing a Browser Extension). With the Portis Javascript SDK can use dApps right from their browsers. 2) XYO Network partners with Infiniverse, an AR world running on the EOS blockchain, where you can buy swaths of land to build digital assets, trade items, and run a thriving business. 3) XYO partners with DOVU a blockchain-powered mobility company rewarding people for making the right moves on the road. 4) XYO partners with Run2Play, an app that helps users raise money for charity when they run. 5) XYO partners with The Spark One, a distributed, education-focused, technology-based network tailor-made for collaboration.
XYO hires Technical Support Lead, Technical Support Staff, Hardware shipping department, video Content Producer and more engineers. Total headcount: 57
Detailed Posts on September 2018’s Progress: https://medium.com/xyonetwork/archive/2018/09

October 2018

XYO End-to-End TestNet Released (Detailed Post: https://medium.com/xyonetwork/updates-from-the-dev-cave-working-testnet-edition-b542538330ba)
XYO Network launches Archivist SDK: https://medium.com/xyonetwork/introducing-the-xyo-archivist-sdk-31fa0d36a808
XYO Archivist SDK Github Repo: https://github.com/XYOracleNetwork/sdk-archivist-nodejs
Detailed Posts on October 2018’s Progress: https://medium.com/xyonetwork/archive/2018/10
XYO Network completely sells out its SPATIAL Conference (over 700 tickets sold!). Speakers include: CIVIC Founder, Wikipedia Co-founder (Everipedia Founder), CBC Casper Proof of Stake Developers, CTO of National Geographic, and many more.
XYO launches 6 new partnerships: 1) RE/MAX Mexico the real-estate titan. XYO featured in front-page Business Section of San Diego Tribune (https://www.sandiegouniontribune.com/business/technology/sd-fi-xyo-blockchain-20181012-story.html). 2) Rivetz, a blockchain project securing digital assets, processing payments, and pioneering what is known as the Trusted Execution Environment, or TEE. 3) Blockfolio Signal: an app that pushes the latest news about a crypto project to anyone holding that project’s token or coin in their portfolio. 4) Bit Design a dApp studio that gives Digital Items a Unique Identity with Blockchain. 5) Fysical a platform enabling Big Data used to make big decisions, from adding a new retail space to re-configuring traffic patterns. 6) RadMaps a company creating colorful, iconic maps featuring local businesses. XYO Network will be integrated to help them verify business reviews.
XYO Network hires more Technical Support specialists, Media Buyers, a Senior Business Development Manager and more.

November 2018

After 10 months of development and 500,000 lines of code, the XYO Network went live on November 9, 2018 at 10:25am. In front of 1,000 of its community members at its First Annual Geospatial Blockchain conference “SPATIAL”. The world’s first peer-to-peer location-reliant transaction was executed when the Ethereum Blockchain called out to the XYO Network, which resulted in 0.25 ETH being transferred from one wallet to another after two devices came into contact. If you haven’t viewed it already, you can watch the launch of the XYO Network here: https://youtu.be/rbmDd_Nml9I?t=920
XYO launches the world’s first Geodapp. A dApp that is powered by the XYO Network (https://saverasheed.com/).
XYO Network launches novel Simple Consensus Smart Contract (SCSC) platform enabling atomic swaps across blockchains powered by IPFS (https://medium.com/xyonetwork/special-update-from-the-dev-cave-keeping-things-simple-with-ipfs-208ee0c9d0d8)
XYO Network launches its Android App (Beta!): Details here (https://medium.com/xyonetwork/were-beta-testing-the-xyo-network-android-app-873ba73a19db)
XYO Network launches 3 partnerships: 1) FedEx Technology Institute, the Applied Research Arm of the Division of Research and Innovation. This is a FedEx incubator aimed at adopting and integrating game-changing technologies. This partnership is massive for XYO Network. 2) Esri the multi-billion dollar enterprise leading geographic information systems (GIS) 3) Verses a non-profit foundation creating a binding, binary fabric for the “Spatial Web”.
Total Headcount 73 people!
Detailed Posts on November 2018’s Progress: https://medium.com/xyonetwork/archive/2018/11

Whew!

This catches you up to the present day!

What you have just read is a fraction of what we’ve been up to.

Now… Our MainNet has launched and our community boasts tens-of-thousands of XYO “Geohackers”.

We feel ready to turn our attention towards exchanges. This will get XYO into the hands of more people.

GAMMA Stage Sale Closing

Now, as I wrote in my legendary blog post (legendary in my own mind), titled “An Update From Our Mission to Decentralize Location”, I outlined the GAMMA Stage Details:

The XYO GAMMA Platform sale will continue up until either the launch of the XYO Mainnet and/or the XY Oracle Network is running on stable ground via a healthy ecosystem.
What does this mean? It means, when the XY Oracle Network has an active economy with the following characteristics:
1. There are over 10,000 unique end-users per day utilizing XYO for location-reliant transactions.
2. There are at least 100 active DApps built by Blockchain Developers that utilize the XY Oracle Network (with at least one “Killer DApp” that uses the XY Oracle Network).
3. A healthy crypto-economic market for providers of network data: i. Sentinels, ii. Bridges, iii. Archivists, iv. Diviners (More in white paper).

Guess what?

We successfully launched the XYO MainNet (“WinterNet”) at SPATIAL in front of over 700+ passionate Geohackers!

Yet even though we have not yet achieved those three conditions above, we heard our community loud and clear. They wanted us to begin focusing on having XYO distributed through exchanges.

Even though the Cryptocurrency Market is still in a Bear’ish state, the benefits of exchanges means getting XYO into more hands of people around the globe. It means spreading XYO to geographical markets that we’re not yet present in.

With this in mind, we decided to go forth and pursue exchanges!

We announced at SPATIAL the GAMMA Stage Sale of XYO would conclude on December 1st, 2018.

Well, it’s official.

GAMMA Stage Sale is closing December 1, 2018. Those who purchased XYO Tokens before December 1st, 2018 are forever locked into the Founding HODL’er Registry!

The snapshot of Founding HODL’er Addresses will be created shortly after it closes.

Congratulations to all our Founding HODL’ers!

We could not have achieved what we’ve achieved WITHOUT your help.

“Behind Mountains, There are More Mountains”

A mantra I’m fond of is: “Behind Mountains, There are More Mountains.”

You better love what you do, because guess what?! Things don’t get easier. Behind Mountains, There are More Mountains.

The Next Mountain…

First, Exchanges!

Operation Exchange Domination is finally here!

Up until this point, we were listed on a Decentralized Exchange called IDEX. Our goal is to now make XYO available to access in more geographies and in more global markets.

Now…

When we analyzed the ecosystem of cryptocurrency exchanges, we needed to start with the most basic question…

WHY is it important that XYO be listed on more exchanges in the first place?

Here’s the reason.

Actually… There’s two:

#1. Global Exposure.

The XYO Network is founded on the idea of creating a “people-powered” location network.

Being listed on exchanges (especially the overseas ones like Bithumb for instance, which is like the Binance of South Korea, actually perhaps even bigger), will get XYO into the hands of people who otherwise would have never heard of XYO. This increases the number of people that can learn about the world of Geomining and Geodapps.

The more suppliers (Geominers), the more valuable the network.

Fact of the matter is… some geographical markets are hard to access unless one partners with exchanges in that market.

#2. Price Stability.

More exchanges should create more price stability for XYO.

Let me explain.

See, if XYO was only available on one exchange, and the exchange goes offline or delists XYO, the price of XYO could be harmed. To have a healthy network ecosystem, more exchanges create a better chance of a more stable XYO price. This creates a more attractive incentive mechanism for Geominers.

These two factors are important because there are two primary uses for XYO Tokens.

First off, XYO is the “digital gas” needed for dApps and smart contracts to make requests to the real world.

Second, XYO is used to “Stake” four different XYO Network Geomining Components (Sentinels, Bridges, Archivists and Diviners). Staking provides more trust and certainty behind data. For more on this, read up on Ethereum’s FAQ Concerning Proof of Stake.

The GAMMA Stage XYO Token Sale mechanics were broken into segments of 50 Million XYO Token tranches. After each 50 million tranche of XYO was sold, the next stage carried forth with an exchange rate 2.5% higher than the previous rate.

This served as a good mechanism for the token sale in the beginning; yet, it actually created an “artificial” price ceiling as we later found out!

There were times when the price of the XYO Tokens were cheaper on the GAMMA Stage Sale Website than XYO Tokens on exchanges like IDEX. This took place even though purchasing XYO Tokens via the GAMMA Stage Sale resulted in being added to the XYO Founding HODL’er Registry (“FHR”)!

Now, with the completion of the GAMMA Stage XYO Token Sale, there will no longer a price ceiling on XYO Tokens!

The market will now determine the price of XYO Tokens. Period.

An Update on the XYO Founding HODL’er Registry (FHR)

Speaking of the XYO FHR. Yes, that’s coming!

The feature has already been designed, developed and will be rolled out soon (hoping to have it live in 2–3 weeks from today). Depends on how fast our brilliant engineer Rasheed can code it up. 😉

Here’s a preview of the FHR…

Back to Exchanges!

Anyway, back to exchanges. We have received proposals from 10 leading exchanges thus far.

By “leading”, I mean they’re in the Top 100 Exchanges according to the exchange marketcap listing websites.

We plan on rolling them out INTELLIGENTLY over the coming weeks AND months.

We’ll be starting with a “smaller” one next week. I’m really excited about this one because the user experience is PHENOMENAL! (At least compared to IDEX 😋).

IDEX’s avg daily volume is ~$600k.

The one we’ll be announcing and hopefully launching with next week is ~$50 Million Daily Volume!

Get ready.

Using XYO Tokens: XYO GAMMA Platform and XYO Network Viewer

We will be rolling out updates to the GAMMA Platform Web App (https://gamma.xyo.network) and also will be pushing live the first public version of the XYO Network Viewer.

The XYO Network Viewer is kinda like Etherscan for the XYO Network.

Here’s a preview of XYO Network Viewer:

XYO Tokens can be utilized in both platforms. We may merge and streamline these web apps. But for now, they’re separate.

Mission Critical: Developer Adoption

Our focus will be shifting to growing network DEVELOPER adoption.

This is CRITICAL in the months to come.

How One Can Purchase XYO Tokens Going Forward

For NEW GEODAPP DEVELOPERS they will need a way to purchase XYO Tokens. If a user wants to purchase XYO Tokens, they will be sent to a list of sources where they can do so.

**Now This Part is Important: We Have NOT Figure Out How This Process Will Be Yet**

We need to make sure that the experience is SIMPLE and EASY for developers to get started.

When a user clicks the button to purchase XYO, they’ll be taken to a page of sources — this will be the exchanges that have XYO.

We are also STILL EVALUATING if we should make the XYO Tokens available to purchase from the fixed XYO Token pool allocated to the public for the GAMMA Stage XYO Token Sale.

**A WORKING PROPOSAL is as follows…**

End-user Flow:

New XYO Geodapp Developer visits https://gamma.xyo.network or XYO Geominer visits New XYO Network Viewer and does not have any XYO (required for staking or to call out to oracle network).
User clicks button to purchase XYO needed to do so.
User is taken to a page that lists all of the cryptocurrency exchanges where one can purchase XYO. One of the options is “Buy via this website directly”.

We would want to do this because we believe we can streamline the process of purchasing XYO vs. having to sign up for an exchange (which can turn away many developers).

Now, for this “streamlined process” of purchasing XYO directly, here are some PROPOSED mechanics that we like for purchasing XYO via this option:

The XYO price would be tethered to the average of all the exchange prices, BUT 5% MORE expensive. This way, it would not create a price ceiling like the GAMMA Stage Sale.
The XYO would NEVER be sold at a cheaper rate than the GAMMA Token Sale ENDED at.
There would be a daily limit. For instance, 2 Million of XYO Sold Per Day (i.e. around $4,440 USD per day).

Now How About The XYO Tokens Allocated to the Public Token Pool Supply?

We are still working on this.

A decision here is permanent and we need to make sure to get it right.

The ultimate goal to do what gives us the best chance in achieving our mission: creating an inter-planetary decentralized location network. One that works from Earth to Mars.

We need to put XYO Network in a position to succeed and be dominant not 5 months from now, not 5 years from now, but from AT LEAST 50 years from now.

If you attended SPATIAL, you heard me say what the 10-year vision of XYO Network is.

Sorta like how you saw “Intel Inside” on most PC’s. We want every IoT device, smartphone, computer, smart refrigerator, etc. etc. to have an “XYO Enabled” sticker on it.

So with the XYO Network Token Pool Allocated to the public:

How should it be distributed?
In what manner should it be distributed?
Over what period of time should it be distributed?
And what “network participant(s)” should it be distributed to?

You see, we have the following “network participants”:

1. XYO Founding HODL’ers

These are our community members who purchased XYO

Tokens directly from the XYO Network in 2018 up until December 1st.

One of the most popular proposals is from our awesome community member Abramelin. Of the 4.5 Billion XYO Tokens, this would entail allocating 2.5 Billion to Cryptoeconomic Reserve; and distribute the remaining 2 Billion to the Founding HODL’ers. To prevent dumping it could be distributed via smart contract over a period of time.

2. XYO Token HODL’ers Who Purchased Through Exchanges (i.e. IDEX)

Those who purchased their XYO through IDEX are participants who we also should consider. They aren’t too pleased with the Abramelin plan because had they known of this, they’d have purchased directly from XYO Network in the first place.

Like most things, whatever option is chosen, there’s bound to be someone out there that’s unhappy!

3. XYO Geodapp Developers

As I stated above, growing this base of XYO Network community members is critical for us. It’s a pain in the butt to signup for exchanges and get started. What if certified developers were incentivized and provided with XYO Network Tokens for developing on the XYO Network? Thus the XYO Network tokens would be allocated to the cryptoeconomic reserve for this purpose.

We want to make it EASY as possible for new Geodapp developers to get up and running and get their XYO balance loaded up in order to beginning developing.

Should we allocate some for this network participant?

4. XYO Geominers

In the very beginning stages of launching the network we’ll likely have a demand problem, not a supply problem.

We’ve created a MOVEMENT! We have an amazing number of Geominers. Or a large number of those who are ready to become Geominers.

However, it’s a network. A supply-demand ecosystem. And the CRITICAL PIECE is obtaining the enterprise partners. And getting them in place where they’re willing to pay for the supply of cryptographic-backed location data (which Geominers SUPPLY!)

Should we allocate tokens to this pool to subsidize and incentivize early-stage XYO Geominers?

5. XY Shareholders

We also have a very important participant and supporter of the XYO Network ecosystem: our XY Shareholders.

I have a fiduciary duty to do what is in our XY Shareholders best interest.

Distributing a $10M+ Asset on our balance sheet that we are stewards of, definitely will impact our Shareholders. We at XY, are bound to do what is in THEIR best interest.

Yet, what’s in their best interest is the success of the XYO Network. So we’re all aligned there!

But if we’re giving away XYO Tokens to Founding HODL’ers because of early support, by that standard, should we also distribute XYO Tokens to XY Shareholders, too?

It creates a tight-rope and we must balance. We must try to do what’s right considering ALL these network participants.

6. XY — The Persistent Company (aka “XY”. Formerly known as, “XY — The Findables Company”)

Last, XY is indeed a network participant. This is the company that I work for. It’s the U.S. Delaware C-Corporation that is helping to jump-start the XYO Network in the very beginning stages.

Not many community members think of it, but if the XYO Token Pool allocated to the public was distributed 50% to Founding HODL’ers for instance, who then dumped their XYO on the market (tanking the price) it could result in XY the company having to lay-off 70+ employees! Thus, severely disincentivizing XY — The Persistent Company from continuing on!

We allocate our entire 70+ person staff and the majority of our resources to ensuring the XYO Network is a success! I don’t think anyone would want to lose that network participant!

But, not to worry. I’m determined to NOT screw this up.

We need to make sure we get it right.

And we need some time.

If you’d like to provide your feedback on this, please do so!

Submit your feedback, ideas or proposals to: proposals@xy.company

I myself, Johnny Kolasinski our Head of Community, Arie and Markus get email proposals sent to that email address!

Our community is everything. We want to grow this the right way. So please share your ideas if you have any thoughts!

Wrapping Things Up…

Arie, Markus and I are having a Founder Retreat this weekend and will be planning out our roadmap, mission, vision and strategy for 2019.

I guarantee one thing: We’re not planning on slowing down anytime soon!

Thank you for EVERYTHING.

And remember…

Screw it, let’s do it.

Press on,

Scott Scheper