AMA Recap: July 10th, 2020

Friday’s AMA saw Jason Jang from TNC join Chris, Arthur and Joseph. It covered a wide range of topics and a lot of ground, with 43 questions over 3 hours.

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🔗Question 1

🔗Can you confirm the OTC deal?

Jason Jang: There was an issue about this OTC deal due to the delay of Aladdin Pro Wallet. It was among the merger company and TNC, but not ready for the public. We are doing careful review at the moment with our legal team. TNC is always put users benefit up front

🔗Question 2

🔗When will you finally build a community with a chat with TNC employees active? (not just hired moderators but actual employees who can ask other employees stuff and communicate to the community)

Jason Jang: On the way of our merger process, we believe there will be large amounts of users that will join this chat group. We don’t want the room to be without answers, so we are taking time to activate this matter. It’s not that simple to just open the chat room and leave it to the public. We must manage to operate with real time monitoring which will take manpower and expert attention online 24/7. We hope to open the chat group before the 2nd merger group joins the project.

🔗Question 3

🔗What are the concrete steps TNC will take to improve communication?

Jason Jang: For now, TNC communicates with each merger company for the public communication. Also, we do have SNS posting and other ways to connect. This is the minimum way to communicate at the moment, yet we’ll try our best to open up the channel in near future.

🔗Question 4

🔗Kucoin claims that TNC decided to halt the listing process. Why has TNC decided to stop listing on Kucoin?

Jason Jang: TNC did open up the wallet with Kucoin yet it was Kucoin’s decision to cancel the listing, and we are still in contact for the listing matter.

🔗Question 5

🔗Does TNC see a need to get people to invest in TNC in the next years or is the plan to use its own funds to keep up the price at a decent level?

Jason Jang: Most token companies are depending on investment and market trading. Yet TNC’s focus is on utilization of our own token in the market. This is the major difference from other token companies. TNC will balance the future investment plan and market penetration in step by step.

🔗Question 6

🔗Will there be a professional PR agency handling TNC’s affairs to improve its image and communication to outside investors & businesses?

Jason Jang: Since 2017, crypto market has been experienced false advertisement and wrong news. TNC wants to spend our asset toward real work area. Do you really want to hear the fake news with tons of positive information? TNC will not waste our money on advertisement like others. We will only focus on make the result for the public. Once we are ready with the platform, then you will see tons of great news and PR about TNC.

🔗Question 7

🔗For Arthur/Joseph: When will the storage beta be released - it has been getting delayed since 2018, is it actually still in development?

Arthur Mingard: Storage has been in active beta for the past 10 months, following nearly two years of development. The architecture for the setup has evolved significantly, with private keys now part of the system, enabling end to end encryption and a completely private and secure setup. Storage is central to future services and to enhancing CDN for longer form video for example. As such it’s essential that we get it right. I dont have a deadline that I can share with you today, but I can say that it is progressing well. As soon as I have more to share, you’ll be the first to know.

🔗Question 8

🔗What happened with the mobile edge application? Development was started in 2019 and there was supposed to be a beta version last year but then things got very quiet.

Arthur Mingard: It remains in development. There are a series of complications to overcome, especially on iOS where accessibility and performance requirements can shift dramatically between major releases. But we have a working build that is active for storage.

Joseph Denne: Whether or not we can go beyond storage in iOS is a question because the ability to background tasks is very limited. It’s possible in Android however.

🔗Question 9

🔗Is network audit/open sourcing as previously promised still something that is being pushed for?

Arthur Mingard: It should be noted that the core web services under Edit are fully Open Source and are used in production widely. What we’re really talking about is network code. In short, yes, we’re moving towards a full Open Source footing. Nothing has changed in terms of our plans on this front. We’re opening up components as we go, but are only really to do so when we have documentation in place for individual packages. Without documentation there’s little community benefit and we just end up creating more work for ourselves, where our effort is best directed to moving forward the core tech.

🔗Question 10

🔗When will Edge build up a sales team and really work focused and with massive actions to get more customers?

Chris Mair: This is in plan. We’re currently focused on retooling the site to provide clarity around service availability as well as strong landing pages focused on conversion to subscriptions. We’re also working on a series of partnerships, and have a direct sales function in place, led by myself, that is showing green shoots in terms of conversion, which is very encouraging given the current climate. My partners and I are the first to state that we’re not hardcore sales people. We can pitch with the best of them, but that’s a different skill to hitting the phones day in day out. So, we’re looking to build a sales organisation around us. It’ll take some time, but the wheels are in motion.

🔗Question 11

🔗What makes your advisors so special?

Jason Jang: TNC tried to choose the various specialists around the world to evaluate the merger company’s potential ability and possibility. Our advisors are already special in their domain. In future, each advisor will support TNC’s new project and spread the news also.

🔗Question 12

🔗Jason, a question, if the tokens are locked in the wallet, who are all trading on various exchanges at the moment. Why not let people withdraw their original coins till the time you can confirm the OTC deal & provide confidence to people?

Jason Jang: Due to the hacking issue on the certain exchanges, TNC stepped forward for smart contract upgrade. This will cause massive traffic for the swap again. We do want to create a clean market for all our users. OTC deal was talked about before. It’ll happen for sure but we just need to finalize the wording and terms and conditions.

🔗Question 13

🔗What will be the benefits of TNC having its own blockchain and why can existing solutions not be used?

Jason Jang: TNC uses ERC20 to open up the speed for the merger process yet once we finalize the merger then we’ll initiate our mainnet process. The main reason to have a mainnet based coin is having control over the market.

Here are two main reason we are not opening our mainnet yet:

  1. listing and swap process matter
  2. cost effective and speed of expansion

🔗Follow up: What you mean with ‘control over the market’? The price or is it about transaction speed?

Jason Jang: TNC utilization and transaction speed. On top of this, we do have special reasons to have our own mainnet in future. It’s not about market price, it’s more toward business orientation.

🔗Question 14

🔗What will the business relationship between TNC and Edge be after Edge relaunches its own token (EDGE2)?

Jason Jang: Crypto merger plan includes the building the “decentralized workforce” for the group. EDGE will be one of the core tech partnership company for TNC’s future project.

Joseph Denne: We have a clear plan for relaunching Edge but no specific timings are available yet. It’s focused on driving the network forward by enabling deeper integration between token and functionality. The plan is to continue to offer TNC as an alternative method of staking and as a method for purchasing services alongside other coins such as BTC. And the Edge Network will be providing cloud services to the group. Every company in the group has a function to perform; Edge is no different.

🔗Question 15

🔗The first 6 projects that joined TNC M&A obtained around 1B TNC each. Will this continue for the next crypto projects that will join TNC?

Jason Jang: We do have the first 5 projects to be correct. The 1 Billion offer is only for the first group, and it’ll be different for future joined merger companies since TNC has already obtained the market value.

🔗Question 16

🔗When will TNC be listed on the King of all exchanges, Binance!? Do you have the ambition to be on Binance, Kucoin, Upbit, and Bitfinex?

Jason Jang: TNC will never stop for listing on major exchanges. We do have clear purpose to be listed all around the world. It is so sad that we are slaved by exchanges yet soon we will see the different market trends. Hopefully, we can make this together in the crypto market.

🔗Question 17

🔗On what basis is the circulating supply of TNC on CoinMarketCap shown and why is TNC ‘not eligible for normal listing’?

Jason Jang: It is CMC regulation which we don’t have any control over. We only follow their regulation to make the position in the ranking system. Circulating supply of TNC is limited to 20 percent right now, 80 percent is locked in a frozen wallet. We are working with CMC at the moment to get the actual ranking.

🔗Question 18

🔗When will we be able to stake devices for the network again?

Chris Mair: Staking will be opened up again in line with the first release of TNC. Staking will be in TNC. We have enough capacity for the time being, so there’s no threat to existing business as a result of staking being unavailable.

🔗Question 19

🔗When will payouts for staked devices happen?

Joseph Denne: Payouts are on hold until the first release of TNC. Earnings are still accruing, and at the end of the month post the first release of TNC they will be paid out. Payouts will be in TNC moving forward.

🔗Follow up: I dont see the logic, because the EDGE payment model is connected with the direct redemption of tokens from the exchange. The TNC token is currently available for purchase on many exchanges, you receive money in dollars and can buy TNC from the exchange right now.

What is the point of waiting 3 months?

Joseph Denne: A fair question. The answer is because of the weight of work in handling payouts through Aladdin. The network has automated processes, and it’s these that we need to be using. I’ll chat to the team to see what we can do in the interim.

🔗Question 20

🔗Which services is Cookalong TV using in the network? And what plans are there for video?

Chris Mair: Cookalong is built using Edit and is running on DNS and CDN. Video is currently facilitated by Zoom, with live playout and archived content being provided by YouTube. We’re talking to them about the feasibility of moving from Zoom to a voice layer in the Network, and video capability of this nature remains in the longer term roadmap for CDN.

🔗Question 21

🔗Will all merged projects be put on the EDGE network?

Jason Jang: If we start the mainnet development and take the EDGE tech as the core, then yes, all the merger projects will be put on the EDGE network. In the future, we’ll make a task force team for the development. I’m sure that EDGE will be the center of the team.

Joseph Denne: Network services are available on a partner basis to all group companies, and we’re hopeful that it will drive significant network usage as well as providing a good feedback loop for our dev team.

🔗Question 22

🔗Will the EDGE team collaborate on updating the TNC website, both visual and technical? If yes, when will we see changes?

Jason Jang: Yes, we are open for collaboration with the EDGE team. We’ll see the change within this year I hope.

🔗Question 23

🔗I am a strong crypto holder, will there be any benefits for those who want to hold TNC long term?

Jason Jang: TNC is not just a crypto merger oriented company, it is our first step only. I would love to say that we hold the greater pictures for the holders. My answer is Yes, for sure.

🔗Question 24:

🔗How is TNC solving the issues with merging for future merges? What are big technical risks with merging that you have run into but have not yet been able to solve?

Jason Jang: For now, we are concentrating on erc20 token companies. Each mainnet developed coin companies are hard to merge. The reason is very simple:

  1. Listing problem with their coin structure. Exchanges will have hard time
  2. Swap check-up process problem since they hold their own block explore, etc.

We do have more development for these issues, and when we are ready for the 3rd group of mergers, it’ll be ready for coin swap also.

🔗Question 25

🔗Why are you moving away from Consul. Q. for Arthur

Arthur Mingard: Consul is spoken about as a decentralised project, but it requires a single server to manage ACL, so it’s not the decentralized solution it’s often claimed to be. Through Q3/4 this year we’ll be moving away from it entirely. Work on this has been underway for a long time, and we’re already well on the way to rolling our own solution which is better suited to the requirements, both current and future, of the network and edge services/solutions in general.

Joseph Denne: There’s scope for this portion of the network as a service for VPCs in its own right btw. Something we’ll be considering.

🔗Question 26

🔗Why did you start with CDN?

Arthur Mingard: We used it as a test to see how far we could push the decentralised cloud concept: CDN requires huge CPU, storage and bandwidth capacity. Its pipeline architecture is infinitely more complicated than a 1:1 rental model for CPU for example.

Having CDN down gives us huge confidence in the potential for the platform as a whole. It’s a proof point if you will. Plus, it’s a really expensive area in the cloud right now, meaning that our competitive price gives us a far stronger edge. (Pun intended.) Loads more to do on CND too - audio and video in particular.

🔗Question 27

🔗Are you on course to unlock TNC on October 01st, and could it happen sooner?

Jason Jang: Yes. TNC is working at full speed to make it sooner for all of us.

🔗Question 28

🔗According to the TNC Book, number of exchanges and number of wallets make up 80% of the grading of a M&A Project, while volume and & marketcap only makes up 20%. Fundamental value/proposition is not considered at all in this grading that determines the number of tokens a project gets. Can you explain the thoughts behind this system?

Jason Jang: Two major grading elements were user count and exchange listing status. TNC’s project name is “Crypto merger” with “token swap” process. This project doesn’t involve any fiat value of the token. We concentrated on the potential ability and community power. TNC believes that we can provide a platform and ecosystem for large amounts of users. Also, all the users want to have a massive number of exchanges where they can trade and liquidate their assets. These are the reasons for the grading. We do respect the merger company’s tech, and leave the rights to them. This intention is for working together in the future for blockchain projects.

🔗Question 29

🔗Will TNC burn tokens to change the total supply?

Jason Jang: Yes, token burning is going to happen. We’ll share the news with you guys when we are ready to initiate the burning.

🔗Follow up: Can you share how much % will be burned - previously it was stated 90% will be burned, is still correct?

Jason Jang: 500 merger companies, now we are in the stage of first 100. This means only 20 percent is open, and 80 percent is ready to burn if we don’t continue with second 100 companies.

🔗Question 30

🔗When will stakes be returned for nodes and why has it gone beyond the 30 days from requested return?

Joseph Denne: This is in progress. The delay is our side, but it’s in hand. We should be distributing back stakes in TNC next week.

🔗Question 31

🔗What do you say to those people claiming that Edge hasn’t delivered anything?

Chris Mair: Well that’s demonstrably not the case. There is end to end utility available in the network today. You can sign up and start using the first service on site in minutes. And it’s a powerful service: a fully decentralised content distribution platform with all of the functionality of high-end media manipulation services built in and provided without additional cost. You can host images, audio, video (with some limitations in file size, currently being expanded Arthur, you might want to elaborate on that), HTML, CSS and JavaScript. That means you can go as far as hosting a full site on the platform if you want. And we’re constantly building! Lots happening around performance, new services and of course Console itself. There’s a changelog inside of Console to remember. Here:

Fudders will FUD. It’s a reflection of their own issues, and despite our best efforts I’m not sure it’s something that we can help them with.

Arthur Mingard: To expand on the video limits currently in place, this is mainly down to the limitations of the low powered devices on the network and their inability to fetch and return huge files in a short time. What were working on at the moment is the ability for multiple devices to contribute to a single video stream, and for this to leverage the power of Storage to distribute shards of files.

I do love the notion that theres actually someone out there who has followed this project and doesnt think weve done anything. As Chris mentioned, you can sign up and actually use Content Distribution to handle image manipulation. I promise you, when you request a cropped image, Im not sitting at the other end downloading your photo, popping it in to photoshop and then quickly uploading it. I dont even have a photoshop license.

🔗Question 32

🔗What’s the financial situation of Edge?

Joseph Denne: We have a 12 month+ runway and are continuing to push forward new engagements and initiatives. Some we can talk about, like Cookalong. Some we can’t. Everything we’re doing ladders up to the network. I think that the speculation on this front is driven by fear, triggered by the fallout from the bear market in crypto, which is understandable. But it ignores the fact that Edge is a real business. And it does nothing to help move the proposition forward.

🔗Question 33

🔗Can you please provide details for the smart contract auto distribution system that’s in development?

Jason Jang: Once it’s finalized then you may see the smart contract and other information on the registered site. Since it’s still in erc20 form, it’ll be clear for you to see the upgrade once we post the content.

🔗Question 34

🔗How are token withdrawals from Aladdin handled once unlocked - Manually (delayed withdrawal) or is it coded to allow transfers of no more than 10% (immediate withdrawal)?

Jason Jang: I do believe that Aladdin Pro Wallet will operate automatic instead of manual now. All the lock-up systems are set already for automatic operation. Anything related to the wallet should be communicated with this website:

🔗Question 35

🔗In a video interview you mentioned the idea was for TNC to branch into financial services. You mention TNC will have a security token, a trading token and a stable token. Can you elaborate on that so the community can understand where we might be going long term?

Jason Jang: 3 layered token structure is still in the working process yet we will reveal along the way of development. In the long term, TNC would like to separate the functions of the token in 3 ways. I do believe that this separation will create a new trend for crypto trading.

🔗Follow up: So, 3 tokens or one?

Jason Jang: In future, it will be 3 different tokens yet work as one.

🔗Question 36

🔗How would you rate how the merged communities have been treated by TNC up until this point? Thus far the acquired communities have had to endure zero communication, 5 months delay in token distribution (and counting), unconfirmed OTC offers, seeing fake volume on exchanges with zero liquidity, mislead in terms of token burns and circulating supply, merged Advisor having 900+ million tokens and the list goes on. And please don’t cite the OTC offer as a means to mend the fence as, unless it’s confirmed with some hard proof funds will be distributed, it’s just another promise to be broken.

Joseph Denne: Communication hasn’t been as good as it could have been, but it’s not right to say that there has been zero communication. There’s been a lot, both broadcast and through the various community channels. I take issue with the word promise. It’s prevalent in crypto communities, but is pretty childish. No business makes promises; rather they communicate what they’re doing at a given moment in time, often through the use of roadmaps. They then respond to market conditions as they find them, pivoting as required to achieve the best outcome.

Jason Jang: The token burn will happen, as I covered in an earlier question. The OTC offer to merger company communities will happen, and is currently under legal review. I can’t comment on individual project terms other than to say that everything we’ve structured we deem to be fair and equitable. With regard to exchanges, we’re getting as broad an array of exchanges in place as possible. The full launch of TNC hasn’t happened yet. Given this I think its a strong position, especially when compared to the position of the projects pre-merger. TNC is doing our best to provide a strong market for all the users.

🔗Question 37

🔗Whats the status of the SGX implementation?

Arthur Mingard: We’re constantly working on the SGX implementation despite the various setbacks caused by delayed progress from Intel. We’re hopeful that these issues will be resolved soon, however we’ll avoid releasing a production version until we’ve seen a sustained period without any reported issues.

Joseph Denne: The issues we see are security related - flaws being continually found. We’re waiting for stability basically.

🔗Question 38

🔗Why are GPU-enabled hosts not on the roadmap anymore? It could provide lots of new applications - especially for running ML models and video processing on the edge.

Arthur Mingard: The engineers at Edge have always been focused on using the correct tools for the job. With Content Distribution, we have regularly benchmarked image manipulation methods that are both CPU and GPU based, and the current position is that CPU based asset manipulation has proven to be superior in terms of performance vs cost. That said, as we move towards video manipulation (transcoding for e.g.) this is likely to change, and we will then push more for performant GPU device onboarding. For now, it would not be sensible to preemptively onboard these devices because GPUs tend to lose value quicker than CPUs, and this would be unfair to the device owners.

Joseph Denne: With reference to ML models, and the potential of powering learning algorithms like recommendation engines, we see these as eminently possible in the stack. But there’s a requirement for storage to be in place first, as we need a fast, in-network, data ingestion system.

🔗Question 39

🔗Can you talk about what plans TNC has to create value for its token. Any plans to add staking or other defi elements?

Jason Jang: Defi will come in later stage, and I believe it’s too early to share this information now. We should focus on what’s in front of us now. For future reference, TNC will show more plans about Crypto banking in the next stage of development.

🔗Question 40

🔗Whats the value proposition to use TNC for the Aladdin shopping mall compared to other cryptos that are available?

Jason Jang: FYI, Buyaladdin will only allow 5 crypto to be used within its platform, and TNC is one of them.

🔗Question 41

🔗Edge has stated that the merger will accelerate the product development. Does TNC directly help in hiring & funding new team members for the projects, e.g. new developers for edge - or does this work solely through selling tokens?

Joseph Denne: It helps us through partner organisations being hands on with the tech. We have a bunch of companies with us in our Slack channels for this reason too. TNC also have a broad array of developers on hand, which are available for us to lean on as required. And of course, we see addressing the tokenonmics as a critical step in the path to broader adoption and growth.

🔗Question 42

🔗After TNC swap, how many TNC will be required to be locked for the Node hosting and stargates?

Joseph Denne: TBC. We’re looking at how we can broaden the scope of the network as far and wide as possible, so we expect the value of stakes to come down. Additional reward metrics are also being looked at, such as a loyalty bonus for long term stakers. Also, in a mixed device environment (mobiles + dedicated hardware for example), having a flat rate for staking wouldn’t really make sense.

🔗Question 43

🔗Why can’t TNC be listed on OKEX? Is it because the BANKEX team has withdrawn the deposit?

Joseph Denne: It’s a funny question, akin to “when moon”, but it’s also one that masks the effort and spend required to deliver on exchange listings at scale. As you know, our focus has always been on tech first. Edge is a long-term play. But no exchange is off the table - we’ve spoken to most of them, often extremely in depth and over long periods of time. Decisions on where to list and when we’re always a balance of the need for liquidity and the cost of the undertaking.

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