We had several major project updates this month, let alone some administrative changes. We discussed:
- New Development team
- New Acting CMO
- New Development Process
We also discussed our project analysis and needs.
Questions & Answers
|Hi , Philip. when will cash out guys get tokens its been more than 8 months since we filled out that form. I literally put in all my life savings into this and now I am going through a very hard time for the last 6 months.||Jatin C||With the cash out, we have to enable the blockchain first - and the blockchain is being actively worked on. Right now, our previous team did the great work but didn't check in the code - it was half complete, but when they left, they decided not to check in that code. So our new devs will need to work on it again - but these devs are far more capable. Our goal is September/October for withdrawals.|
|Does SSD have experience in blockchain development?||Ravi J||Yes, extensive experience 🙂 On ETH, L2 and even Steem/Hive 🙂|
|What is the name of the companies who are SoMee's competition?||Denis C||Directo competitors are Steem, from a blockchain standpoint, and we have other social media apps that we compete against - our goal isn't to compete so much as it is to gain partnerships and help everyone with decentralized social Media.|
|Any info on when Prism staking will start again?||Vitlus V||Posiden (Felix) has been working with this staking, and we have staking live - they are reworking their staking system for SoMee specifically at this time. The previous thing about how they said we are not going to have a fee - there will be one, but you can roll over to the next pool if you chose. You can stake for 6 months, and then roll over to the next pool as desired. But, then when you unstake, you will have to pay that fee. The fee is 1.5% unless that has changed.|
|How many shares in total are you going have? and for sale? And price? And potential of dilution?||Stuart ,||No, there's no potential for dilution at this time, this is out of our existing share pool, we'll have a limited raise at republic, and not list everything. We have other investors that are coming in through Reg-D and we are just waiting on Reg-C attorney to deliver our final paperwork for Republic. It'll be probably 25 million shares in the company, and probably over a million will be available on republic. 1.25 million total or there about. The difference between the shares and the governance token, will be evident - we'll be relating different information on both. Shareholders are corporate governance and voting shares, whereas governance token is more decisions within the community and platform/ui/ux/features are coming into the application. It'll be evident for everyone. We are excited to go live on republic, and we'll have certain shares available there for their participants, and we'll have shares outside of that as well.|
|In the timeline I did not see a plan for governance, any info on that?||Vitlus V||I wouldn't put this into effect until Jan, we want to lock in all existing features before we introduce the governance token frontend.|
|Timeline for adshare||Ravi J||Adshare shalls till be September to October 2021 as planned - we are still pushing them for this - However it is a new development team, and we may have to redo the frontend - so it may be pushed out based on needs.|
|Are you saying mobile apps with web will be live by next year July?||Jatin C||No, that's just a few months away for the MVP, the entire app with all features, all DEFI elements, all news, everything should be ready by July next year, but basic functions, blockchain, withdrawals, adshare will be ready in a few months.|
|Is there reason to think the old team may be going their separate way (and didn’t check in the code) to start a competing project?||Nathan S||No, these are standup guys, and developers, and they are still under NDA with us, they are still providing technical standup work for us. They deleted all our code from all development machines to protect our IP. They are not the type of people to steal another's ip.|
|Thats great to see the new tentative roadmap.|
Can we expect a pathway that defines your proposed plans towards the market cap targets for each month etc.
|Shahzeb K||We really don't talk about market cap in that sense - what we are building is going to create inherent value for the community and for those who are participating on the network. So we don't really talk about target goals for market cap. Our goal is to meet our timeline.|
|How much withdrawals per day do you expect when you can cash out with skrill for the first month? 250$ per person adds up quickly after launch, thanks!||Michael H||We will check with Skrill - it's been awhile since we've had a discussion on that. Let's make sure they are still on board with that $250/day per person. But, once we have the blockchain enabled and going, we'll enable daily cash out limits for people.|
|When will the blockchain be live?||Jatin C||Blockchain is slated for September/October 2021|
|From where will this money come from?|
How is this sustainable?
|Jatin C||Users are using the application, points are being generated, users are powering up, buying power up packages, and rewarding each other for their actions. The model is sustainable due to the economy controls in place - power downs take time, rewards for posts are every 7 days, etc.|
|How will you guys make sure people get 250$|
everyday for people who powered up?
how is this practical?
If 10k people withdraw 250 a day, that is 2.5 million dollars a day.
|Jatin C||Remember, you are not guaranteed to get $250/day on SoMee. The point is there is design and AI in place to ensure that we are sustainable in the long run. What is powered up takes time to power down, and what is earned takes time to withdraw on the market place as well. All of these controls help prevent overloading of the economy.|
|Are their any utilities you expect will be usable with SOMEE before governance is mapped out? Thanks!||Michael H||Governance will happen one piece at a time; we still expect work to start on that come Jan 2022|
|what is the current circulating supply of the SAT token?||Ignacio D||You can view the SAT contract at: Token Contract: - 0xc9f1016d336ef77aee75fc11ad64c5ecf9121332|
|Video and chat launch was planned months ago, no info about that on the development timeline, so when?||Inigo I||Video and Chat are top feature priorities that the new team are working on implementing. Chat technically is already done, and Video has already been introduced, however VOD and recorded video need to be worked on. Those are slated for Sep/October releases|
|What is the timeline for adshare||Ravi J||Adshare shalls till be September to October 2021 as planned - we are still pushing them for this - However it is a new development team, and we may have to redo the frontend - so it may be pushed out based on needs.|
|When will the marketing campaign for the platform begin?||Damian D||Marketing is an ongoing effort. As per the tenatitive timeline, October, November and December see increased marketing|