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 Sakata
Why BandChain? Why not utilize resources that are closer to us over at the BPSAA, such as Oracle Pools at Ergo?
The integration with Band Protocol was in the works before Komodo joined the BPSAA. We are not restricted to one oracle provider, so Ergo could be an option in the future. Work is being done to achieve Cosmos compatibility, so the Band integration is beneficial towards that.
Our own oracle tech needs to be matured. Komodo’s DTO solution is currently a proof of concept and not quite production-ready. We’ve been focused primarily on building AtomicDEX the past year. We’re looking forward to maturing this and other Komodo technologies as time goes on. Anyone can come in and use the oracle tech Komodo built, but Band (for example) is focused solely on oracle tech, so we want to use mature tech for production applications.
Why Band Protocol and not Ergo? Band Protocol was extremely easy to integrate, and the dev team was very active in helping. This made it an ideal situation for getting set up.
That being said, we’re not locked to just using Band. Oracles are not exclusionary, and we could easily add Ergo & Chainlink later.
Question from Mylo
Are there any ideas, possibilities, or plans for a feature that would reward users for completing atomic swaps? Example: https://shapeshift.com/rainfall
Rewards are an ongoing exploration. We have a few ideas like ‘paying makers directly’, which is one option that lets us bypass regulation, but this would require information collection. That is something we don’t want to do. Recycling fees like the taker paying the maker directly is another option.
ShapeShift Rainfall is a lottery program, and we can’t really implement that as it’s not a long-term solution.
We plan on releasing a maker incentive program, and we have to do it without creating a legal burden on our end.
For incentivization, we have to think about 3 main groups: service providers, makers/ liquidity providers, and takers.
The two main solutions being used at the moment are 1. Rebates or 2. Yield/Fee Benefits.
The former is difficult to implement, and the latter presents a a securities issue. Both options are currently being explored.
Question from joe2x4
What is the Composer? Is it Open source? Can it be forked and modified?
The composer is a GUI that implements Komodo core tech. The web app is not open source. However, the composer tech itself (through the Komodo daemon CLI) is open source.
The goal with the module tech (UTXO contracts) is to become the blockchain equivalent to WordPress hosting. Users who aren’t tech-savvy can use Komodo’s rapid deployment tool However, Komodo’s open source module tech is currently only accessible/ easy to use if you’re a very experienced blockchain developer. Future refinements will make this technology more accessible to both non-devs and junior developers.
Question from joe2x4
There has been talk about trying to cultivate junior developers, has there been any talk about creating a Komodo academy or just Online classes you sign up for that are taught by someone.
As part of Audo’s path clearing initiative, one of the things we’ll be doing in 2021 is working with the Komodo community to create content!
Audo has talked about running another internship opportunity in 2021, and we’ll be spinning up a junior developer program in 2021 to create a space for devs that are interested in learning to build with Komodo tech. Komodo Academy was something that was starting to get spun up earlier this year, and we intend to continue to build this out into a front-facing engagement space. Education is a key pillar that we should focus on, especially as we want to create a community of builders and creators.
The idea right now is to connect on a smaller level initially. We don’t have to build a platform for thousands of devs right now. Currently, we want to create a launchpad that is built around understanding our devs’ needs and where we should put in the effort. It’s going to be a very personal campaign for a while. If you want to join the effort over the next couple of years. will be a good time to get involved.
Question from joe2x4
Custom ERC tokens can be added to AtomicDEX, can we also add custom Komodo smart chains to AtomicDEX?
Yes, this is a possibility for the future, and something we have discussed.