We have received a number of questions from the community over Telegram this past week. Here's our latest list of FAQs.
If a developer uses a token to access and use the ecosystem as described many times, what will happen to the token?
The token is used to register and activate IoT devices on the Atonomi Network. For instance, device manufacturers ‘register’ devices on the Atonomi Network at the time of manufacturing completion. When devices are sold to the market (e.g., SmartTV sold to consumers), consumers have the option to ‘activate’ device on the Atonomi Network. As such, the token is the mechanism used to perform registration and activation. Additionally, device manufacturers and consumers/users of the Atonomi Network will be able to earn tokens as well for performing certain activities such as participating as a node in the network. This creates a circular system for the Atonomi token. No tokens are burned. Please refer to the Atonomi white paper posted on the Atonomi website for more information: https://atonomi.io
Do we expect the utilized token to come back into the circulation at any level or would that be burned for good? Or is there any other method of treatment which I might have missed?
No tokens are ever burned in the Atonomi Network. Atonomi Network is designed as a circular system where the token grants access to device manufacturers and consumers/users to register and activate devices on the Network. It’s very important to understand that the token is also used as an incentive mechanism to reward device manufacturers and users of the network. Rewards are paid to these participants for contributing computing power or positively adding to the overall security posture of the Atonomi Network.
Do you have a plan to make some user friendly dapp for mobiles or desktop with all functions and stats of your network?
Atonomi is considering some options to share network stats with the community. For instance, we are looking at a dashboard that can provide network stats (i.e., # of registered devices, # of partnerships) within the Telegram channel.
Are existing CENTRI partners testing the network?
Atonomi is utilizing the CENTRI partnerships and commercial relationships to discuss additional partnership opportunities for the Atonomi Network.
Will there be more partnerships announced? How many?
Atonomi is currently engaged in numerous discussions with potential commercial partners. We will announce these partnerships when appropriate.
What if a team member would be fired? Do they get the tokens with them? (In regards to the team vestment).
The team tokens are controlled by the company compensation committee and made available to team members based on their role with the company and accomplishing business and milestone objectives.
There are almost 100 million tokens available immediately from reserve and user growth. Does that mean it is one of the reason for price to fall below private sale price?
Reserve and user growth tokens are for the sole purpose of incentivizing commercial partners to test and use the Atonomi Network. These tokens are held by Atonomi and not intended to be freely circulated in the market.
When people research atmi one of the 1st things they will find is the ico review by Balina which wasn`t great. How do you combat that?
Atonomi understands there are many differing viewpoints and motivations for reviews that are outside of the project’s control. The IoT landscape is quickly evolving and Atonomi must focus on bringing the best product to market that builds trust and security for the increasingly connected world. Atonomi welcomes all criticism as constructive in nature and incorporates feedback where applicable.
Can we have a weekly tech and business journal mailer to list down the achievements and developments last week?
This is a great idea. Our marketing team will consider this moving forward.
First Atonomi main goal this year?
We have accomplished our primary goal; launch the Atonomi Network. We are now focused on building the commercial partnerships to use the Network.
Many iot devices are off grid meaning they are powered by batteries, solar etc. is there any issue with power supply? question is, does the additional blockchain layer like atonomi provides it have any additional effect on the power consumption of the device or am I totally wrong here?
The power consumption of devices is dependent on several factors – environmental conditions, computing capacity and amount of applications and processes on the device. The Atonomi Network agent on devices is designed for these conditions in mind with a small installation footprint of <100kB and low compute power utilization. The registration and activation of a device on the Atonomi Network which leverages the blockchain does not negatively affect power consumption as there is a simple script running only for this process.
Tech development--As it claimed product is already built why 23m?
The current product will continue to be refined and improved in two primary ways: (1) scalability; and, (2) interoperability. Scalability involves investments into level 2 blockchain solutions such as Plasma and ’state channels’. Additionally, Atonomi has a multi-chain vision for IoT of which will require Atonomi to interoperate with many other chains such as EOS and Hyperledger. Right now, Atonomi is built on Ethereum and believes this is the best platform in the short-term; however, we are committed to being ‘multi-chain’ which means we anticipate a world where Atonomi will facilitate device identity provisioning between many different chains.
Operational costs--can you give me office pic so that i confirm they have operational cost?
Sure, how about pics and videos? We will post this week!
Community Development---CENTRI already has a large customer base, so why would you do a token sale?
CENTRI solves a core problem for homogeneous IoT use cases (i.e., closed systems). Atonomi is solving a problem for emerging heterogeneous IoT use cases (e.g., autonomous vehicles entering a smart city for the first time and need to instantly authenticate and provision itself with many devices/sensors). Centri partnerships and commercial relationships along with its core IP/patents are being heavily leveraged by Atonomi.
Where are the updates now of:
1. Publishing the roadmap
While we have already developed and released the first version of the Atonomi Network SDK and smart contract, we are comfortable to publish an early roadmap of the product very soon. We are building a much bigger vision for the product that will require a little more time to share publicly.
2. New exchanges
We are actively engaged in dialogue with top exchanges. We are not in a position to comment on which exchanges will be listing the ATMI token before that happens but we expect the current list to expand. The AmaZix team will be able to share this with you any updates as soon as we have them.
3. Videos of the product
We will be providing a demo video of the product from our product/engineering team within the next few weeks. Please know they’re hard at work and we’ve been prioritizing their time to work on the actual product. We know the community has been asking for this and we look forward to providing it for you!
4. Bios of the entire team
We intend to update our expanded team on our website by the end of next week as we’ve added some new people to the organization in the past month.
As we mentioned in our latest newsletter update, we are in discussions with a number of potential partners and alliance organizations across silicon, IoT, blockchain and telco. We will announce these when they are confirmed on all of our social media channels and via press releases if applicable.
What is the staking process like for non developers or does that mechanism not exist?
Atonomi does not currently employ staking.
Why was team token unlock was not mentioned in whitepaper, however the same coded in smart contract. Why was team not transparent / hiding critical information?
The whitepaper was written to reflect the product specifications available at the time of token sale. Due to the regulatory climate leading up to the token sale, Atonomi decided to remove any reference to forward projections or future statements and focused solely on the features of the Atonomi Network available at the time of token sale.
Do you seriously believe those who participated in the private round did so for using the tokens on the platform? Not as an investment opportunity? If you do - can you tell the team to never release those private round tokens onto secondary markets but they can only be used within the platform only.
The private sale involved investment by accredited investors only. It is well understood these investors had an investment opportunity in mind, and therefore would not be using the token on the platform.
Companies are releasing info regarding partners even at MOU stages. What is stopping atonomi from doing the same? It's not like you are in the finance sector to maintain so much confidentiality.
Partnerships are bilateral and require all parties to agree before an announcement can occur. We will announce all partnerships as soon as possible.
What is the likelihood of CENTRI partners doing business with Atonomi?
Atonomi is actively engaged in collaboration with CENTRI in pursuit on the appropriate pathways to commercial partnerships.
Have you affiliated with DNA?
The DNA Fund is one of our investors and strategic partners.
Does Atonomi have a relationship with the 'Trusted IOT Alliance' ?
Atonomi is familiar with the Trusted IoT Alliance and not currently a member of the consortium. We are evaluating all industry groups and will be making decisions soon on which groups to join. Stay tuned for more information.
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We have received a number of questions from the community over Telegram this past week. Here's our latest list of FAQs. If a developer..