Crowdfunding App Demo, Team Expansion, 1Protocol and New Whitepaper

Crowdfunding Video Demo

We’ve been hard at work building Boost, our crowdfunding platform. In this week’s update, we show a preview of the platform in action. Every user of our app can use Boost to raise funds for any project. In the demo video, the user first navigates to a crowdfunding section of the app, and then enters information about the crowdfunding event like duration, funding goal, and background information. This information is then stored to the testnet blockchain. Afterward, the crowdfunding event is viewable in the projects feed. We’ve set the app to automatically approve all projects for Alpha testing. Below we show a video demo of Boost in action:

Crowdfunding Smart Contracts

We’re continuing to build out various testing scenarios for our crowdfunding smart contracts. At this time, all crowdfunding scenarios run as expected. We’ll continue to test these rigorously over the next week. We’ve also already completed a draft of the documentation for our upcoming crowdfunding smart contract demo. This will allow other developers to test and interact with the crowdfunding smart contract.

1Protcol.com

This week, David met with one of the founders of 1Protocol in San Francisco. 1Protocol has created smart contracts allowing users with idle cryptocurrencies to stake them and earn interest. The platform was founded by Stanford dropouts Axel Ericsson and Zackary Lawrence. For a detailed description of their platform, see their white paper here. One example use case for their platform is Ether staking in the upcoming Casper upgrade. Using smart contracts, 1Protocol enables users to put idle value to use by creating “Virtual Workers” which link “Capitalists” (those staking currency) to “Operators” (those with idle computing power). Their smart contracts are generalized and can handle Ether and any Ethereum token, and they’re also developing an intuitive front end interface called 1Client to interact with their smart contracts.

Incorporating 1Protocol would be as easy as adding a button to stake idle ELIX and earn interest on our wallet page, and linking our app to their platform via a few function calls. We believe this could be another way to reduce the circulating supply of ELIX while allowing ELIX holders to earn interest. According to one of the founders, they already have strong interest in their platform from owners of cryptocurrencies who don’t wish to cash out their holdings. We anticipate their platform providing a service that if incorporated could further motivate people to use our app. We’re still exploring their platform and conducting further research, and will definitely be testing their Alpha in the next few months and seeing if there’s a fit for a partnership.

Expansion

We’re currently in discussions with AE.Studio, a software consulting firm cofounded by one of our contacts. AE would provide consulting engineers, product managers, designers, and any other product development resources necessary. We’d be working closely with them on our product. This has the added advantage of gaining help and insight from a team experienced with building and deploying great products. Over the next few weeks, we’re discussing the details, and if we choose to use AE we may start with several weeks of contracting work — testing and altering our smart contracts — and then move from there.

We’ve also had the opportunity to speak to several other engineers and one possible intern. We believe in the past week we’ve made significant progress in finding the people and resources to get our product to the next stage.

Updated Whitepaper

Our new white paper has just been added to our website! Check it out here. We’ve been working hard to incorporate the community’s feedback and provide an updated version of our company vision with in-depth discussion of technical aspects. Please provide your feedback on our social channels about the new white paper — we’d love to know what you think.

App UI Redesign

We’re currently discussing the possibility of having our previous designer also design our final App UI. We were proud of the new website design, and would like our app to have a similar sleek look. We’ll let the community know when we make a final decision regarding this. We’re also talking to several different designers at this time to allow us to choose from as many options as possible.

New Facebook Page

We now have a Facebook page! Check it out at facebook.com/elixirtoken

Follow and like the page to receive updates from ELIX in your newsfeed. Please help spread the word on Facebook about the platform by sharing the page or inviting friends to like it.

New Instagram Page

We also have an official Instagram page now. You can follow @elixtoken for updates and Instagram posts regarding ELIX.

Sign Up For The Upcoming Newsletter

We’ve enabled the Newsletter feature on our website! If you’d like to receive occasional email regarding development of the ELIX platform, you can provide an email in the sign up field at the bottom of the home page. We’ll keep the emails concise and important, and your email will never be shared with others on the list.

Be sure to checkout our website as well as connect to our social media on Reddit, Twitter, Discord, and Telegram. If you have any questions, let us know and we’d be glad to help clear things up!