Thursday Townhall: How Do We Reach Mainstream Adoption?

AudoOctober 22, 2020

Join us for our new weekly town hall meeting on each Thursday from 3 to 4 PM UTC on Komodo Discord in the Town Hall voice channel. Have questions you want answered? Drop them in the Town Hall questions channel before the meeting.

Question from Zanzarismo

How can the DigitalPrice team help the Komodo team?

Continue using Komodo technology and help with general marketing efforts. Even small tasks like sharing a post or giving feedback can help us grow and strengthen the community. We’re going to be releasing a white-label solution that enables anyone to launch their own atomic swap-powered DEX. Stay tuned for more information on this topic.

 

Stephen Hawking

What's the plan to increase the demand for KMD? From which future projects will KMD benefit directly?

A KMD taker fee on AtomicDEX is one idea currently being proposed. Paying the DEX fees on AtomicDEX with KMD would benefit both KMD and the users, since they can avoid paying higher fees for coins like BTC, ETH, and ERC-20 tokens. The drawback is that users will need KMD to trade, but this could become a configurable feature that users toggle on/off.

Beyond this, there are discussions about how KMD can be used on AtomicDEX to unlock premium features.

The following use cases are currently being explored:

  • Collateral/Locking Mechanisms Find ways where users can lock up KMD for yield earning deposits or crypto loans.
  • Wrapped ERC-20 Allows KMD to be traded on ERC-20 DEXs and used in various Ethereum-based DeFi applications.
  • Dual Daemon KMD You can run the Komodo native chain alongside a second chain on another blockchain protocol. This could be used to build a bridge to various protocols (e.g. Cosmos, Tezos, and/or Ethereum).
  • dApps  By making Komodo technology more accessible to junior developers, it will become easier to create decentralized applications for gaming and other use cases that integrate KMD.

 

Question from Cryptosaurus

With crypto becoming more mainstream and adopted by more and more businesses, how does Komodo plan to profile itself here? How does Komodo plan to convince/get the attention of executive people with low/zero technical knowledge on blockchain?

Three points come to mind when talking about how we can move adoption forward in regards to both the business/enterprise audience and developer audience.

  1. Messaging   There will be a new website for komodoplatform.com to reflect product brand architecture changes and our renewed focus on the community. We are also thinking about how we can better tell the Komodo story. 
  2. Technology Projects will need blockchain security and developer tools. These are two areas that we will work to better present our value proposition. For example, PYCC will become an effective solution to enable independent developers to create apps more easily with Python. This solution will also help blockchain development agencies to adopt Komodo tech and offer it to their clients. The objective is to create technologies that are easy for anyone to use. 
  3. Education  This will be a vital part of our 2021 strategy. We will focus on targeting junior developers by providing the documentation they need to start building applications with Komodo tech.

 

Question from Actionslacks

Is the Amazon Web Services (AWS) partnership still a thing?

Composer is still available via AWS; however, Komodo will have to reapply for AWS partnership. It’s something we can revisit at a later time.

 

Community Spotlight: CHIPS Project

By special request, we had a guest appearance from sg777, a member of the CHIPS community. He explained a lot about the project, and townhall attendees had a chance to ask a few questions. Here's a very quick summary.

Pangea Poker is a fully decentralized Texas hold 'em poker game built on the Chips blockchain. The protocol has no centralized entity. Anybody can take the code from the repo, run their own backend node, and play the game.

 

Question from last week

When will it be possible to test and play the Pangea poker game?

You can play Pangea Poker by following the instructions on the Chips GitHub repo. It’s a straightforward process. You can play via the CLI or use the GUI version.

 

Question from Stephen Hawking

CHIPS are used to play on the poker table, but how do you buy CHIPS? Only with KMD, or can you also buy with other coins?

CHIPS is listed on AtomicDEX Desktop. You can store and trade CHIPS as well as a variety of other Komodo-based coins against BTC, ETH/ ERC-20 tokens, KMD, ZEC, and other assets.