Founder AMA Recap: April 13th 2022
4 min readApr 15, 2022
- (2:30) NFT series will feature “rare” versions of each founder. There will be teasers dropped every few days showing what each rare will look like leading up to the launch.
- (3:26) Elias is producing educational short videos for YouTube with walkthroughs for various features on the Sonar Platform.
- (4:21) Sonar Academy is entering internal testing phase.
- (5:20) Jacob goes over again the advantages of our long incorporation process. Sonar is now registered as an LTD in Malta. The final step to complete the process is passing a security protocols audit with the MFSA. Once this process is complete we are clear to apply to tier 1 exchanges.
- (7:45) We are seeking funding and have prepared a pitch deck to present to potential VC investors. We have defined a multi-year business plan, revenue streams, and growth models.
- (9:00) Mike explains in detail the new doors and opportunities that have been opened with the steps of incorporation that have recently been completed.
- (12:00) How does getting VC funds for Sonar benefit holders? Funds flowing into the ecosystem help us continue to hire top talent, quicken development pace, deliver products quicker and of higher quality, and with a fully realized ecosystem, the value of the PING token is bolstered further which benefits all holders.
- (14:50) What does it mean to build value through utility? By adding uses, value, and further utility to the PING token it creates further incentive to buy and hold the token. In the coming days, the utility of the PING token will be increasingly compelling to new and prospective holders. Jacob uses the utility and incentive of holding BNB as an example and as a basic blueprint for PING.
- (17:05) Cristiano shows many slides from the Pitch Deck which has been prepared to show VC investors. Gives an explanation of the business plan ideation and our approach to market.
- (21:12) Pitch Deck slide of the technology stack development tree.
- (22:49) Explanation of how the technology stack translates into B2B revenue streams for Sonar.
- (25:00) Breakdown of various planned revenue streams.
- (30:41) There will be a public version of the Pitch Deck for the community to share with friends and family to summarize the long term goals of Sonar and the value proposition.
- (32:32) Will the BTC Lightning Network be integrated in the wallet? Eventually, yes. But it is a more complex integration and will not be in the first few releases of the wallet. It will be implemented as soon as possible. Partially dependent on speed of development and level of funding we are able to secure.
- (36:00) Sonar is building custom smart contract integration into the platform which will interact with other protocols and DEX’s for various uses. Such as to aggregate lowest possible gas fees for trade execution as one example.
- (37:10) Staking is dependent on establishing alternate revenue streams in order to avoid price dilution. Other revenue streams will be able to fund and sustain a staking pool.
- (39:00) With the formation of the companies complete, the final step will be registering the Whitepaper and MFSA audit. Finishing these steps will put Sonar far ahead of the curve when it comes to approaching regulations concerning crypto in the EU.
- (44:11) By increasing the value of the ecosystem behind PING, by the relationship between supply and demand, the value of the token will follow in kind. By expanding use-cases and demand for the use of PING, a sustainable system will be implemented to incentivize and drive holders.
- (47:50) One of the cornerstone utility functions of PING in the near future will be the relationship between the token and the blockchain data extraction architecture we are building.
- (49:05) Will we be attending any more conferences? Yes, we will be attending WebSummit again in the fall.
- (51:20) Updates are continuing to be pushed for bug fixes, feature additions, and implementing feedback from the community. Your feedback is invaluable to us during this Beta phase of open building. Also coming soon is the release of Sonar Academy as a component of the platform.
- (54:20) FUD seems to be dissipating, which the team is grateful for. We appreciate the chance to be able to build Sonar in relative peace.
- (55:20) We are re-starting our talks with Indacoin and are working through the legal requirements in order to reactivate that fiat onramp.
- (1 Hour) NFT’s will have a variety of uses and benefits to holders. Many of which are not yet released and announced, but will be in the coming days.
