23 Feb 2024 4 min read

First AMA Recap!

In the world of cryptocurrency, community engagement is crucial. That’s why the recent AMA (Ask Me Anything) session hosted by Jacek…

The First Solar Recap

In the world of cryptocurrency, community engagement is crucial. That’s why the recent AMA (Ask Me Anything) session hosted by Jacek Studzinski and Elaine Egan, the first in a series of monthly gatherings, was such a pivotal event.

The community enthusiastically embraced this first AMA, submitting 60 questions. Whilst Jacek and Elaine could only answer some of the questions in one AMA, rest assured they will do their best to answer them in the coming months.

Introduction and Team Updates

The session began with a vibrant start as Jacek set the mood with music courtesy of Fat Freddy’s Drop.

During the hour-long AMA session we delved into a wide range of topics. Here is the TL;DR version!

Solar: moving from a start-up-type project to an organised operation!

We are transforming from a small team where everyone is wearing multiple hats and planning as we go — to a structured operation, with a vision and Strategy.

Introducing New Key Roles in Solar Network/Dokdo Management

COO Michiel Simons. An experienced manager with a decade-long track record of building and managing companies. His role is to help put the vision of Solar into operational tasks, products, and manage their development and completion.
CTO Armand Habets. Fully in charge of the Dokdo Development. operations, and responsible for the in-house development capabilities.
CMO Jacek Studziński. A seasoned Marketer and strategist with a track record of working for the largest brands and ad agencies. His responsibility is to coordinate the Marketing team and ensure consistent communication — both external and internal.

Community Engagement and Feedback

Our regular monthly AMA, followed by a recap, is intended to give YOU a higher sense of participation and influence on the development of the ‘Solar System.’
Solar and Dokdo are committed to improving the quality and frequency of communication with the community.

Recap of 2023

There was a brief rundown of key events from 2023 to bring everyone up to speed.

Closure of the Swap Portal, June 30th marked a huge step forward in the history of Solar.
Exchange listing and collaborations were discussed including Binance, Huobi, Whitebit, Exolix, Ivendpay.
The new look block explorer Solarscan was released.
Team visits to Japan, Korea, Turkey provided opportunities for networking and brand exposure.

Product Highlights and Future Plans

The Solar Mobile Wallet has been launched, it boasts multi-currency, user-friendliness, voting for block producers, and new coins are added frequently.
Contests on the Dokdo X (Twitter) account will run to ask the community to choose 2 new coins to add to the Mobile Wallet.
Plans to expand into the African market and other markets were discussed.
New exchanges Coinstore and Biconomy are coming soon.

District 53 and tymt Game Launcher Updates

Capture the Flag events are being held every 2 weeks with a fantastic prize pool of typically 2500 SXP.
A new D53 website and exciting new features and functionality for the game are in development.
Two new developers are working on District 53.
The games launcher tymt is undergoing a makeover with a new look website and functionality launching soon.
A fantastic Spring event is coming with an Ultimate Egg Hunt, SXP prizes, contests and fun for all.

Interoperability and the Future of Solar

Solar remains focused on interoperability, breaking down barriers between chains with projects like Solar Core and SVM in development. As soon as we have any further information on these products we will be shouting it from the rooftops!

Specific Community Questions Answered

Q 1. During early bird registration, the solar card was only available for some African regions. I am from Kenya, so when should we expect to join the bigger family? I would love to be able to access my crypto through my card @ltkhamis

A 1. Solar Card would be unavailable in African countries straight away. However, Solar is certainly not ignoring its African community. We will be undertaking several marketing initiatives aimed at the African market, and we are looking forward to expanding Solar’s reach into Africa. Helping people access financial services is one of the core principles of Solar.

Q 2. This is more of a request than a question since you guys are in this crypto space every day and can see all these successful projects publishing news about what they’re doing and what’s the possible outcome multiple times a week and that obviously results in attracting new investors. It would be real nice if you guys did the same? let people know what you’re developing and maybe they’ll be interested to invest on the project @The1PriNc3

A 2. We’ve intensified our communication efforts recently. We avoid hype and focus on listening and delivering quality products. This AMA is itself a demonstration of our commitment to improving communication. We will be bringing you more articles, tweets and Social Media as well.

Q 3. Despite the large amount of foundation and developer SXP, there is currently no locked-up volume. Foundation and developer SXP volume lock-up is required. What do you think? @Gorgeous416

A 3. No, there is no locked-up volume. However, we need to spend money to earn money. Quality developers, management team recruiting, sponsored articles, etc, all require spending. However, Dokdo will create income which will be channeled back to the foundation. This makes Solar a sustainable project. Solar aims to be around for the long haul, developing sound products that enhance the crypto space. Developing great products that will create traffic and increase SXP transactions.

Q 4. How does Solar Network differentiate itself from other delegated Proof-of-Stake (DPoS) blockchains in terms of energy efficiency? @harlyn_monroe

A 4. DPoS is inherently more energy efficient because it does not require expensive rigs running 24/7. On a side note, Solar differentiates itself from other DPoS projects in that voters’ SXP is not locked, and they can freely move it in and out of wallets.

The next AMA will be held in March stay tuned for the announcement!