Hello! I’m Dmitry Gerasimov, CEO of Demlabs. Welcome back to our AMA stream, where we share with you the company’s most important news items, and answer all your questions.
Today is the first stream of 2023. Here are the topics we will be covering:
- Launching the new V3 staking program
- New LP positions
- Development news for Cellframe and KelVPN
- Progress on the Cellframe mainnet roadmap
- Our plans for Demlabs and all our projects for this year, 2023
V3 Staking on the Ethereum Network
So, we are now launching V3 staking! V2 staking on Ethereum has been active on the Cellframe staking site for several months now. And now we have added the possibility of staking $CELL-ETH LP tokens, with a subsequent migration to the V3 protocol.
Here’s how it works: When you create a stake, you select a range of price of $CELL per ETH for Uniswap V3 transactions. As a result, your LP tokens will trade only within the range you have selected.
By doing this, you will reduce the potential amount of rewards for providing liquidity, but you also reduce your risk of impermanent loss.
In addition, we also provide a way to migrate V2 tokens to V3 without LP staking, but with keeping all bonuses that long-term staking provides. This is important for old holders who staked a long time ago. By adding liquidity to LP tokens you are already staking, you improve your position in the pool. This increases the coefficient of your participation in the Cellframe staking pool and increases your share of the rewards.
New LP Positions
Moving on. As we promised on the final stream of 2022, we have added new LP positions: СELL/DAI, CELL/USDC and CELL/USDT. On Uniswap, you can already find the option to create new pairs and provide liquidity.
The rewards for these positions come to a total of 0.3 million for the first year of the staking program. You can find more details in our article: Tokenomics 2.0. Please find the link in the video description.
LP Staking Functionality
New LP staking functionality for the Cellframe Staking site is now being developed. We will make a separate announcement about the launch date, so follow our announcement channels.
Now we are planning to move on to supporting more LP pairs on the BSC network: CELL/BUSD, CELL/DAI, CELL/USDT, and will then launch the staking for these pairs. It will be soon.
Cellframe Staking Site UX/UI
Moving on. We are actively working on improving UX/UI on the Cellframe staking site. We are fixing bugs as quickly as we can and reacting to user concerns that come into our tech support.
One question that came up is something I would like do discuss in detail:
This is the issue of problems in displaying statistics and in processing harvest requests. These and other problems of data display are directly linked to issues of chain synchronization.
They are appearing because the number of transactions on the network is growing quickly. The network became more popular. The development team is solving this issue, but it will take time, as you understand.
The synchronization mechanism is one of the most complex and sensitive components of the Cellframe node software. For this reason, we must work very carefully when making changes, so that they make it better and do not make it worse.
In the next major node release, which will be released together with the mainnet, a new synchronization algorithm and new mempool refresh logic will be implemented. It is possible that this will fix all problems of this type. I believe we will see this update next month, February, when we will have a release candidate. You will see the release date for the algorithm we are planning when we show you our current roadmap.
Let’s move on to post-quantum security. A new post-quantum signature type, Falcon, is now available in a development branch, which will soon become a release candidate. Soon this fix will be available in the master branch.
The next news item related to security: we have completed integration of the PQLR library from our friends at QApp. It’s important for enterprise adoption, because the PQLR library will get certified and become a kind of standard for corporations.
Now the Node and SDK can be compiled with this library. This may be useful for corporate blockchains who need to maintain algorithm certification.
Cellframe Wallet for Android
The next topic of the day: Wallet for Android. We ported the Cellframe Wallet app to the Android platform. I just got information 10 minutes before the stream that a working build is ready. So in the near term we will see a new Cellframe wallet build. We are now finishing MacOS and iOS builds as well!
Cellframe Wallet is an app with a simple interface to manage your funds across various Cellframe networks. It is intended for those who do not need the full Cellframe Dashboard functionality. You can call it Dashboard Lite.
We started building the MVP for this app in the final quarter of last year. The desktop version of the app has already been given to the Beta Testing group.
With the help of our testers, we were able to find and fix several major bugs. We also listened to all their suggestions for improving functionality, and have added some of the suggestions to our roadmap. Thank you all very much for your help!
Cellframe Mainnet Roadmap
Next topic: Progress in the Cellframe mainnet roadmap.
The mainnet roadmap is the plan for development for our main network up to the middle of March. It will be adjusted as needed during the development process, taking into account the developing situation. But, in general, overall, we will be trying to keep to this plan. And since our last AMA we are still on track.
So let’s look at this roadmap. It has some updates, but the release date is still the same — beginning of March. Yes, it can be adjusted, but for now we are on track and very optimistic.
On each of these AMA sessions, we will share progress on the roadmap, and inform you of any changes.
Let’s move to our next segment: plans for 2023. For us this will be a year that we will systematically finish and continue everything we started in 2022:
- Fully functional mainnet
- Fully functional, working auctions
- Smart contracts that allow us to integrate with other ecosystems, plus support for NFTs
- Developing the ecosystem, creating a natural tokenomics
- New projects on the Cellframe ecosystem. Right now we have one Demlabs project, but we hope the number of other projects built on Cellframe will grow. One other such project is coming soon. I think we will announce it in about March, and I think they will be one new participant in Cellframe auctions. Anyway, it’s now a real project, already spending resources, money. People are working. So, be ready!
- And, we plan to support the adoption of Cellframe by businesses and communities. We are in negotiations with different organizations. So adoption will be one of the key strategies for the next year.
Some of our plans in the near-term are:
- Stress-testing TPS (transactions per second capacity) in the Cellframe network. I believe next month we will see the real numbers.
- Releasing Cellframe Dashboard and Cellframe Wallet on Android and iOS. The first Android build is ready and iOS is next.
- Launching a new version of our VPN service, which will be available for client integration with Cellframe Wallet and Cellframe Dashboard. This is the so-called no-CBD mode for KelVPN.
- Completing an MVP of our videoconferencing service ConfCall.
- Launching a fully functional mainnet.
- Conducting auctions.
- Launching a bidirectional bridge. First we need to run the mainnet, then we need to wait a little to collect as many master nodes as possible at the beginning. We need to have a significant number of active verifiers in the network. When we see that we have it, we’ll open the bidirectional bridge. We’ll try to run it as soon as possible; it may be the end of April. It depends on you! If you run, say, 1000 master nodes in the first week, we will open the bridge in the second week. If not, it will take a little more, maybe 2 months. Either way, we will run it as fast as possible.
Q: Is there something we as a community can do to help with liquidity on the new BEP contract?
A: We’re doing our best to produce some more liquidity, but what community members can do is participate in our staking program. Just add liquidity by yourself and stake the LP tokens on our staking site. And you’ll obtain rewards for LP-providing.
Q: Are the previous auctions still in progress? I submitted some CELL to support Kel during that process. Should I be expecting to receive Kel for supporting, or do we plan on rerunning the auction, and my cell will be returned?
All your submissions will be counted after the launch, so don’t worry. The relaunch of auctions we will announce later, when it will be ready.
Q: Since Cellframe positions itself with services being able to build on itself, does it mean Ethereum, Solana & Dot can be integrated into Cellframe for quantum protection?
To be quantum-safe, you need to use quantum-safe signatures. If you’re on Ethereum or Solana or Polkadot, unfortunately they operate with classical cryptography that can be hacked by a quantum computer. So protecting the services built on different blockchains is something that unfortunately we can’t do. To protect these services, they must be based on Cellframe. Maybe they can work on Solana/Dot and Cellframe as well, but all other users from other blockchains will not be protected. This protection doesn’t depend on the service developer, it depends on the blockchain. If it’s on Cellframe, it’s safe. If it’s on Solana, it’s not safe unfortunately, with all respect to Solana.
Q: Will ETH contract address change and will we have to migrate after mainnet launch?
A: No, we are not planning to migrate the ETH contract to a new contract. Migration to the native network is not necessary for everyone, but it is required for single-token staking, and then for running a master node in the Cellframe network.
Q: Cellframe will be resistant to quantum computing, but what about BFT (Byzantine Fault Tolerance)? How will Cellframe solve this in the POS consensus?
A: We don’t have to worry about BFT in the proof-of-stake consensus, because approval of decisions happens using a stake, and if something goes wrong then that stake can be slashed. Everything is simple. Yes, there is a quantum threat for proof of work, but for proof of stake I don’t see any threat. Possibly for voter selection, but I don’t think so. I think that threat is only for proof-of-work. Please correct me if I’m wrong.
Q: Will the amount of KEL needed to run a master node change based on token rate the same as CELL?
A: Yes, it can be changed. And if you staked more for your masternode, the rest of the tokens can be unstaked. So don’t worry about over-staking.
Q: How will KelVPN be used in the Cellframe ecosystem?
A: It’s an example of truly distributed applications that can be built on our technologies.
Q: When will the page be updated to pay with the KEL token for the VPN service?
A: Tokens can now be used to pay for the VPN, and you get a 30% discount. If you are not able to do that, please contact the support team with a description of your issue.
Q: How many people are currently working on Cellframe? Are you hiring?
A: Yes, we’re hiring, we’re constantly looking for new, talented team members to help our development. To prepare for mainnet launch we increased our team of backend coders writing in C. Right now we have about 36 team members.
Q: I saw on the dashboard there is a DEX “in progress,” I was wondering when and how it will work.
A: We’re planning to release a DEX that will support the Cellframe network and all cryptocurrencies that will exist in the network. It will be launched after (or together with) the launch of the mainnnet. However, some parts of this are already working. For example, you can create orders, you can exchange. Just some things with the UI are in progress. And we are waiting for things like commission collection. When we finish such things, we may launch it before mainnet, maybe in February. Its 98% ready.
That’s all the questions! Thanks and see you at the next AMA!