Another Link In The Chain
We are very excited to announce the beginning of our technical collaboration with Chainlink labs! This collaboration cements a milestone of significant importance. With the first steps of integrating Chainlink price feeds, we have begun to secure one of the needed data solutions for our platform back-end. However, price feeds are just the first step of many in our relationship of deep collaboration. Our team has had several productive meetings with the Managing Director, the Technical and Engineering Department lead, Head of Operations, and Marketing to outline the scope of our cooperation to build new tools together.
Sonar and Chainlink will join forces to push the boundaries of technology in the crypto space, and work together to develop new use-cases for data solutions. Chainlink is the gold standard for Oracle and data solutions in the crypto space, but they do not simply end at Oracles. Chainlink represents the forefront of burgeoning innovation in many aspects data science, and the Sonar Platform is the ideal fulfillment of the Chainlink use-case. With our combined vision and technical innovation brought to bear, new ground will be broken together in the coming months and years.
What is on the horizon?
We have spent much time speaking on the subject of incorporation. As of now, we still remain deep in the process of becoming a full fledged legal entity and registered company. Originally when we first announced the start of the process, we gave a timeline of several weeks that has since passed. It is a departure from the norm for us for a stated deadline to have not yet been fulfilled, but there is good reason as to why.
As we have embarked on the lengthy process of incorporation it became clear that there were two distinct paths to choose from. The first path being the quick and dirty path which anyone with a few thousand dollars can attain. Registering a business address in a country with lax regulations is unfortunately the norm in the crypto sphere, and a path that many choose to take in order to tout so called ‘incorporation’. However, this is an incomplete and insecure form of incorporation in the eyes of regulators and serious investors as it does not carry the weight of true regulatory oversight and compliance. It is only an address on paper, a slight formality, and nothing more.
The path we have gone down is the lengthy one, the legitimate one, and the only one that will support our long term plans and growth as a company. Yes, it takes significantly more time and can be a point of confusion for some investors. But know this, every step we take is the step that allows us to build a true foundation that will support our sustainability, growth, and all future endeavor's for the the years to come. It is the framework for plans we have yet to announce, and ideas which we have not yet revealed. The weed quickly shoots out of the ground and reaches knee height within days, but withers away as quickly as it appeared. The Oak tree takes time to spread out its roots, absorb the nutrients from the earth, and slowly but steadily climbs until it towers into the sky, casting its great shadow on all that is below. No storm or wind or rain can displace the Oak tree. Sonar is that tree, and our path of true incorporation is the system of roots that will sustain us.
Strategy and Marketing
Like with our path of true incorporation, our marketing strategy follows similar thinking and breadth of scope. We are very close to announcing some very big news with a new partner. One who has global recognition, and a very large audience with a blossoming interest in crypto. We have had several meetings to finalize concepts and ideas. Both sides are quite excited to work with one another, and we foresee a strong relationship going into the future. Soon, a formal announcement shall be made on this matter. This one will not disappoint!
Additionally, we have successfully cleared with the Bitboy team. We will have more details soon to announce of our exposure to the massive Bitboy audience. This has been a work of ours in progress since July. This is one example of the future-oriented marketing approach we employ.
For the near future, Finstreet will be producing a series of educational and promotional videos on our concept and the products under development. Finstreet has an audience of millions in the Asia/India regions, as well as globally. The videos will be a short form (think high-end TikTok) style with easily digestible information for both new and experienced users.
We continue to employ traditional marketing efforts such as trending Reddit posts following every large announcement, Telegram engagement, email campaigns, ad banner campaigns, and soon to be launched marketing through Gate.io. Our social media ad campaign is increasing in engagement exponentially generating 1,000 website visits every 30 minutes. Phew!
Founders AMA 9/22 “John Edition”
- Merch store is live! Community members have begun to receive the first of the orders.
- We have been invited to attend Web Summit Lisbon 2021! We will have access to the VIP areas. Jacob, Cristiano, Michael, Eli, and Oki will be attending.
- We have been approved for promotion by the Bitboy team. A lengthy process which has now yielded a result. We are currently awaiting a date and more details on which we will be featured.
- Finstreet is producing a series of short educational videos about Sonar. Finstreet has a large Asian and Indian audience. They have worked with other crypto blue chips in the past such as Aave and Matic.
- Gate marketing is about to begin. We have supplied them with a $180K budget with which to market to their audience of 6 million active users.
- Suleman shows graphs of our social media and Google ad interaction which is increasing exponentially! We are now generating on average 1,000 website visits every 30 minutes!
- We are simultaneously seeing an exponential growth in interaction with our Facebook advertising campaigns which are bringing thousands of fresh eyes to our platform.
- Our Chief Security Officer, John, introduces himself to the community for the first time. John has a background in investment banking and big tech. He has spent many years developing software based solutions for financial firms in his field and specializes in code security. He is overseeing the development on the Ethereum bridge and Platform from a security standpoint. He encourages the community to send him any news of recent security exploits so that we can review and learn.
- A semi-public testnet of the Ethereum bridge will be available before the end of September! If everything continues on the current trajectory, we are slated for a full release of the bridge and a launch on Uniswap Oct. 10th.
- The first core feature of the Platform, the charting tool, is nearing the point of a public demo being available to view. Cristiano gives a timeline of 2–3 weeks until we are able to show a demo of the charting tool in action.
- Cristiano goes into more detail about the development process and how timelines are created. Much of the development work is conceptualizing and creating what the end product will be. Creating the ideas takes time and even more so bringing them into reality. Then, the code must be integrated with the design and the user experience, and undergo extensive testing. Since before our token launched, we have set out a clear achievable roadmap of how long we think each stage of development will take us. So far until now, we remain on time and even ahead of schedule. Some features that were slated for Q1 of 2022 may even be available in Q4 of this year.
- The Whitepaper is being updated and added to in order to conform with Maltese regulatory standards, which are some of the highest in the world. Our Whitepaper will be an officially registered entity and will be the first milestone complete before full incorporation. The timeline given by our legal counsel is somewhere in the range of a few weeks to a couple months. The ball is in the regulator’s court on this matter.
- We have an upcoming text AMA with the Chainlink community on Oct 6, 1pm UTC. We will post a link in our Telegram announcement channel as the date draws near.
This has been our most announcement packed month to date. September has been full of market turbulence and some red scares. As always, diligent Sonarians have held on strong. We are so proud of the community as we seem them supporting each other and educating others during times of market uncertainty. From the team to you — we are so proud to be Sonarians!
-The Sonar Team