We have been busy behind the scenes, and this last week has been decisive on many levels.
But first….I want to thank the community for its overwhelming support for the project and its continuity. I am buoyed by the community’s outpouring of good tidings for the project. So from the bottom of my heart, thank you.
The core technical team has finalized the proposition for the implementation of a new oracle feed and a modular architecture enabling a certain level of flexibility for the project to ensure that it can remain on top of unknown challenges in the future.
The first feed used will be Uniswap and Kyber Network. In the future, others should be added by the Foundation’s team.
Production begins this week. We are working night and day to resume trading activities in the shortest possible time.
The next step will be a new audit. It should be relatively short as only a few elements in the code itself will be changed, with most changes occurring on the structure level.
We have received commitments from our dedicated partner, HTrust, to subsidize the opening of the Foundation.
To be very clear, HTrust is NOT and will NOT be the owner of the Foundation. HTrust will be the first technology provider for the sake of efficiency. The Foundation will be autonomous and will decide on the continuation of this relationship in time.
We are working with an experienced PR team and legal partners to have the Foundation become fully independent in the shortest amount of time. However, we will not sacrifice good governance for speed. It is imperative that we make the correct decisions to ensure the stability and longevity of the Foundation.
The goal is to allow the community to grow and build a stable democratic base to manage the HODLC smart contract infrastructure.
The Foundation will become the owner and custodian of community-related property such as the official website, domains, HODLdex, smart contract maintenance and upgrades, and governance/voting infrastructure.
The intention is to give the project the flexibility it needs to ensure continuity and a strong decentralized community. To the best of our abilities, this will respect the core vision and promise of this new economic model.
It is impossible at this moment to estimate precisely how much time and effort will be required to accomplish what we’ve set out to do. Having said this, we are not deterred and are moving forward.
To this end, we are acting as a transitional custodian. We will set up a governance structure and protocol to ensure a smooth transition to grassroots democracy once we are assured that the Foundation has reached a maturation point where it can survive on its own.
At every point in this process, we are keeping in mind the goal of a decentralized, autonomous cycle of wealth generation as espoused in the original whitepaper. However, we are mindful that we must ensure the project’s longevity and survival by lighting its path.
The HODL team
A personal note from Jean-Philippe…”The further I get into this project, the more this universe and its possibilities open up. HODL is an amazingly intricate and deep wealth generation tool. I hope you’re enjoying this ride as much as I am.”