Piconbello Report
Hello, dear ICONists. As Piconbello, we would like to dedicate this report to give you an insight into our status, our change of plans and new product.
Inactivity
We haven’t been much active lately, and we would like to make an explanation upon this. As a team of 3 developers, we all work full-time on our regular jobs. We dedicate our spare time for developing services in the ICON ecosystem. We are not backed by any company and we are not working on any other chain. Our products so far have been monitoring systems for the network and Ledger private key extractor. Although these products are used by many, they are simply not marketable. We designed these in order to overcome some issues in the network, never had any plans to get a benefit from them. Our main idea that could be marketed was the DEX. As our rewards have been low for such a project, we applied for grant request Community focused 0 trading fee dex — Grants. Since our application was also rejected, this idea ceased to exist.
However, we couldn’t stop thinking about what to build on the chain that would be used by many, strengthen the ecosystem and be marketable at the same time. As a group of blockchain enthusiasts, we observed different ecosystems and observed that their Telegram interactions included tipping bots. These tipping bots were utilized frequently among many Telegram groups, which increases interaction between the community members, as well as creating an easy medium to transact assets. Thus, we worked hard upon creating a Telegram integrated tipping bot for the ecosystem and we have succeeded. We are working upon creating a more capable bot, which would create a more valuable experience to the end-user. When we are satisfied with the overall capabilities of the bot, we will release it for you to utilize. We expect it to be released around the end of Q1 of 2020.
Bot
Here is a sneak peek of the tipping bot. This video only demonstrates the initial capabilities. We plan much more, stay tuned.
I-Rep Value
We would like to talk about I-Rep value in this report since it is a hot topic within the ecosystem currently. I-Rep is the value which determines every P-Rep’s reward rate. Main P-Reps decide upon increasing or decreasing the I-Rep value, which makes the rewards given to P-Reps increase or decrease, respectively. Since we are relatively far away from being the main P-Rep, we cannot have a saying in this process. We cannot vote on changing this value. We would like to highlight that there are sub P-Reps who try to look like anti-inflationist and try to prove this attribute by mentioning I-Rep value. Again, I-Rep value cannot be changed by any sub P-Rep, thus as Piconbello, we want you to understand that sub P-Reps who claim to change this value are simply false marketing.
Transparency
We have been highlighting how important being transparent is for our team so far. We have been trying to be transparent until now, we tried to share our transactions to and from our wallet, and provided an explanation for them. But, our idea of transparency was different. We were thinking about a legal company in which every record of the transaction was kept and could be seen by anyone in financial reports. However, for us to build a company, we required a lawyer, an accountant and we had to pay taxes. We are currently having a monthly reward of 600$ and these expenses were around 300$. We thought it would be unsustainable for us to spend half of our income upon being transparent, thus we cancelled this idea. However, we will continue to share our transactions and the reasons behind it.
Latest transaction out of our wallet was payment of tipping bot to some outsource software engineers and monthly server costs. After this transaction, we still hold around 23.5 thousand ICX. We liquidated our funds only for important operations and will continue to do so. If you have any questions about any of our transactions, feel free to contact us and we will provide you with an explanation.
Voting
We have been highlighting the importance of community and their inputs until now. We had an idea of a voting system in which our voters could decide upon our actions. ICXStation has developed such a service on Mainnet and we would like to thank them for creating this opportunity. We want to utilize their service as our voting service for our community. However, for this system to work, we need you. We need an active community that debates upon improvements in the ecosystem, as well as our operations. Please, do not hesitate to join our Telegram channel and share your opinions. We would be more than happy to engage in conversation with every ICONist.
If you consider our efforts for developing the ecosystem valuable, please consider supporting us with your votes.
