Here comes the first AMA of the new year! We’ll carry on our monthly AMA with our CEO in 2023. We’ll be glad to hear your questions and ideas as long as they help Trias. Also, participants will receive incentives. Let’s head to the AMA without further ado!
1 What will be the most exciting development for Trias in 2023?
The upgrade of the Trias Layer ‘-1’ network will be the most exciting development for me in 2023. We had initially planned to release our new Layer ‘-1’ by the end of this year, and the good news is that our technical teams are currently very optimistic about launching its first version by the end of Q2. Moreover, we have ported a Layer 1 EVM-compatible public chain on top of our new Layer ‘-1’. This integration of Layer 1 and Layer ‘-1’ will become the first iteration of our next eco-project Leviatom network’s testnet and will be launched as early as Q2 as well. With Leviatom, we’ll finally have a two-layered testnet with Trias HCGraph that can run DApps that are compatible with EVM.
Moreover, the true power of Leviatom is not merely to host an enhanced Layer 1; it will further host a ported Service Mesh network, which will support the running of general-purpose Docker images. This will allow developers to deploy existing Web 2.0 applications/services directly on Leviatom to gain execution trustworthiness equivalent to DApps running on Ethereum. With this capability, the DApps running on top of Leviatom’s hosted Layer 1 will directly make function calls to the web 2.0 service dockers running in parallel on Leviatom, having the same trustworthiness assumptions as calling other DApps running on Ethereum. This capability will ultimately allow most legacy applications from the Web 2.0 space to run on Leviatom. Leviatom will be the ultimate solution to public chain scaling and become a crucial infrastructure for the entire Web3 space. We will start to integrate the Service Mesh with Leviatom in Q3, and hopefully, by the end of this year, we can see a running example.
Also, the Tusima network, which is currently running on Ethereum’s testnet’s Layer 2 network, will move to Leviatom’s Layer 1 in Q3. Tusima will then achieve even faster and more robust performance; in fact, the performance of Tusima has already surpassed that of many well-known privacy computing networks. I’m pleased to see that the current experimental data on all aspects of our Tusima testnet is among the best in the sector and is highly praised by potential partners. And with the commerce of Tusima’s Test Driven Offering (the ITO), its true capability will be validated by communities soon. Really looking forward to seeing what Tusima can achieve with dedicated Layer 1.
Additionally, when the Service Mesh adaptation is ongoing, we will start migrating Triathon’s underlying CORE platform, currently running as Web 2.0 application servers, to Leviatom. This decentralized general computing infrastructure will address the present centralization issue with the CORE platform and improve the stability and credibility of the testing. This work will be started in parallel with Leviatom’s Service Mesh upgrade in Q3. Hopefully, we will have a functioning version by the end of this year.
In short, if things go well, we will have the dedicated standalone testnets of 3 chains, Leviatom, Tusima, and Triathon, running up and collaborating by the end of this year. And along with that, we will start the token mapping and node staking schemes.
Also, Ethanim and FLock have many exciting development plans for this year. A complete upgrade to the entire Trias ecosystem’s vision, branding, and website is also on the way. I would like to save them for the next AMA.
2 When will the 2023 roadmap be published?
We are currently at the crucial stage of tangling hard technical issues, building the executive team for each eco-project, and rolling out detailed development plans accordingly. The complete roadmap may come by the end of Q1, along with the major upgrade and rebranding of the Trias ecosystem. But we will first release critical milestones for Q1 very soon.
3 The community has talked extensively about Trias tokenomics since the previous AMA. Will the TRIAS maximum supply be altered?
The entire Trias ecosystem is very complicated. We need meticulous and sophisticated designs. Due to the complexity in the scope of matters that we are challenging, we need multiple eco-projects to work harmoniously together, each with its own tokenomics. The maximum supply of TRIAS is only one factor we must consider. Among others, the interplays and dynamics among TRIAS and our eco-tokens are more of our considerations.
In general, the total amount of all tokens combined in the entire Trias ecosystem will increase gradually with the release of our seven eco-projects. With each of them getting listed, the total mc of Trias ecosystem can grow exponentially. I can see that each eco-token’s mc to exceed TRIAS’s greatly in the near future. Meanwhile, due to the swap-and-burn mechanisms, TRIAS tokens will decrease to a certain level. But how low this level will go and whether to dynamically adjust the level with liquidation compensation mechanisms according to the token dynamics of the entire ecosystem, just like every country adjusts its fiat currency to its economic situation, are our key concerns.
We have already started designing TRIAS tokenomics with our scientists from our Joint Lab with Oxford, who are among the greatest in the world in financial mathematics and economics. During the process, we will undoubtedly consult KOLs from our communities. And we will have dedicated AMAs to communicate with our communities directly when necessary. In late Q2 or early Q3, we will roll out the upgraded tokenomics, before the full unlocking of TRIAS tokens in October.
Regarding the current circulating statistics with CMC and CoinGecko, we started to communicate with them over a year ago about correcting the figure. But it is still hard for them, at present, to figure out the correct number given that we have different smart contracts on two public chains. We will keep communicating with them again soon to continuously discuss how to fix the problem.
4 There are concerns over the minting function of Trias’s contract. Will the contract be updated?
This is a historical problem. When we embraced the BSC ecosystem and then the HECO, we needed to issue a certain number of tokens on them. But considering the liquidation compensation, to allow tokens to be easily transferred among these chains, we needed to have the number of tokens on each chain no less than the total circulation amount. One easy way is to issue 10 million tokens on each chain in one batch, but we chose to issue them by minting in smaller batches timely to match the growing circulation amount.
This is a short-term strategy. This year, with the launch of the new Layer ‘-1’ and the token swap schemes between TRIAS and eco tokens, TRIAS tokens will be mapped to our native chains gradually. The contract will be updated by then, certainly. This problem will be solved naturally.
5 For better communication with the community, our community has suggested establishing a DAO. What’s your opinion?
It is an excellent suggestion to establish Trias DAO to better hear the opinions of members who really care about our projects and have heavily invested in Trias. In the Triathon community, we have already begun the practice. Other projects will start soon. Later this year, more stakeholders can participate in project governance when we introduce the TRIAS and eco-tokens’ staking and community governance mechanisms.
6 Are there any updates about the cooperation with Japanese partners?
Trias Japan has been working hard to promote the JPY stablecoin project, and they now have the license to develop a fully regulated and legally compliant stablecoin project. This is a new startup with high potentials. Our team has been in constant contact with the relevant regulatory bodies in Japan, and we’ll keep track of changes in stablecoin policy and promptly apply for more necessary licenses. Our Japanese team will give a more thorough presentation after the Yen stablecoin is formally unveiled. Our next goal is to have big Japanese companies enroll in Tusima’s node programs. We are also developing PoCs for some of the critical application scenarios mentioned before. Please actively engage in Tusima’s stablecoin test if you’re interested in privacy-preserving transaction technology, so we can find issues and demonstrate our stability.
On the other hand, we are continuing negotiations regarding the partnership with NTT Docomo, though it has yet reached a final, publicized stage. Since December of last year, we have been expanding our business team in Japan, and in Q1 of this year, the Japanese team will do more business promotions. We’ll keep you informed of important news.
7 Avalanche recently teamed with AWS to help integrate blockchain technology. Now that institutions are adopting chains, how will Trias compete with AWS?
Today, we see a lot of cryptocurrency projects working together with established cloud service providers. Their collaboration typically takes place in two ways. The first is when crypto projects deploy their nodes on cloud platforms to have access to specialized services. This type of collaboration is currently prevalent. However, despite these projects having very decentralized nodes, this represents a retreat in the level of decentralization of the crypto projects because it is relatively simple to manipulate if the nodes are all deployed on one cloud platform. The famous public chain’s outage is an example of how the underlying technology is increasingly centralized. So, we don’t see any positive outcomes from such cooperation.
Another scenario is cloud service providers begin actively adopting public chain technologies to offer new decentralized cloud computing services. This will have an impact to some extent. But as Google can’t beat Facebook in the social networking space, cloud computing giants do not have the DNA to fight in the Web 3.0 era, which requires the courage to overwhelm their entire infrastructure and management practices.
A new creature is needed, and I believe Leviatom will bring many surprises.
8 Can you tell us more about FLock?
FLock is an eco-project we initially funded and participated in the incubation process. I’ve previously said that Trias’s eco projects differ from others because each one is fundamental to the technology that underpins Trias. So far, our team has participated in building several eco-projects from scratch, including Triathon, Ethanim, Tusima, and Leviatom. As each eco-project develops, it would run on its own as Trias’s spinoff company.
On the other hand, we are experimenting with a different incorporation way with FLock. We didn’t have a big hand in FLock’s early product development. Instead, we helped FLock’s co-founder build management teams and only gave the company the support it needed. So FLock has been a separate company with an independent management team from day one. In the future, new eco-projects may also be incorporated in this manner so that we can expand even faster.
Even though our work on FLock is different from what we do on other eco-projects, it is still closely related to Trias. FLock shares many of the core technology stacks with other projects. They also collaborate to satisfy different usage scenarios. Moreover, the swap-and-burn and staking mechanisms are also available for using TRIAS to get FLock tokens.
9 Since all our eco-projects are supported by Octa, do they need to fund themselves by selling tokens?
There are, in my perspective, two kinds of crypto projects. One depends entirely on its tokens to make a living. They must rely on selling tokens to survive. Only a very small portion of such projects succeed due to the teams’ perseverance and the variable market environments. Their tokens are the bloodline of their survival. They must constantly draw big pictures, make optimistic and often unrealistic promises, or satisfy the community’s instant and short-sighted needs to attract more individual investors so that they can sell their tokens at a higher price.
The other kind of project involves a group of people with aspirations who want to implement technologies they believe in continuously. The tokens are merely an accessory to help them draw in potential users to test and validate their concept, or as exchangeable assets to gain collaborations from the industry. In this regard, Bitcoin is a sound pioneer. In its early years, Bitcoin’s developers seldom contributed their energy only to make money. They persisted in delivering the technology regardless of the price of Bitcoin. We are lucky to be able to lead the Trias projects in this manner.
Trias was initiated in late 2018, and in 2019 it was listed on the exchange. We merely raise less than $3 million in total with the private round investments and the public raising and have used our funds wisely to develop and commercialize our technology. We accumulated revenues and continuously invested in new developments, even in the bear market. Although there were low points when we were almost at the edge of bankruptcy for many times, there were still numerous highlighted points when we delivered products gradually, which convinced me that our initial persistence was worthwhile. We have already achieved so much more than many projects, which raised hundreds of millions. With all that we have been through, I am confident that we can one day achieve more rapid growth than we did in 2021 if we keep delivering according to our original purpose and do not live by selling tokens.
We can’t count how many times BTC has been called a scam by mass crowds, top media, or even governments. The capacity of the Bitcoin development team to insist on continuous delivery without outside influence has brought them to where they are now. This is the status we have been chasing for. With the market’s ups and downs, many of our community members have received a lot of misinformation, and many whiners and FUDers believed we were the first kind of project. They thought we would operate similarly to those first-kind projects so that they could manipulate us so that they can sell their tokens when prices were high and buy them when prices were low. This is not the kind of community members that we care for.
Here, I want to clarify that we have never been afraid of individuals who spread FUD and attempt to sway project progress for their short-term benefit. Even if our token goes to a very low price, under any unprecedented situation, and even with every single person in our community calling us a scam, we will keep building and delivering. For the past four years, we have already invested funds that we earned many times much more than the current mc of TRIAS, and we have kept investing.
So, for a short and straight answer, we don’t care to sell the TRIAS tokens we hold, as those are only pocket money compared to what we have already invested. What we only care about is how our technology will impact the industry. I want to share this thought with our community at the beginning of the year. This year, we will devote more time and effort to the commercial implementation of our technology and engage in in-depth discussions with researchers, engineers from our labs with top universities and research teams, and potential evangel users who really understand our ambitions. My full attention will be on the delivery of Trias’ true power and the accomplishment of its vision.
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There are 17 highly-voted questions that were answered for January’s AMA. As announced before, users whose questions were chosen will share a prize pool of 200 TRIAS; additionally, an extra 15 questions from the question pool will be chosen and rewarded with bonuses. Next week, the winners will be revealed.
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