Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Did a bit of info re Dynasty/Googly.
When Googly launched earlier this year it was headed up by Shubhodip Pal CEO of Googly Media PTE Ltd
https://www.linkedin.com/in/shubhodip-pal-053b04/?originalSubdomain=in
https://www.companies.sg/business/202133049E/GOOGLY-MEDIA-HOLDINGS-PTE-LTD-
However looking at the GOOGLY privacy policy it appears the company is now registered as Topspin Technologies Private Limited
https://platform.googly.gg/privacy-policy
And looking up the details of Topspin Technologies - it was incorporated in July this year there are three Directors :
Kiran Sharma
Devottam Segupta
and……. Matthew Lodge (Dynasty co-founder)
https://www.thecompanycheck.com/company/topspin-technologies-private-limited/U62099DL2023PTC417263
Looks to me like the possible merger is more of a done deal
Blu - within the Pendulum repositories there is coding relating to a’ EuroBrasil project’ - This looks to be a project to automate transfers between BRZ and EURC via Pendulumpay and utilising the Nabla smart contract - I could be adding two and two, and getting five here but the designated off-ramp account is Mykobo so it looks like there is a ‘real world’ case for this development.
https://mykobo.co/#page-top
Worth a read for those interseted.
Crypto Trends to Watch for in 2024
https://www.thestreet.com/crypto/innovation/crypto-trends-to-watch-for-in-2024
Well here is something to cheer about.
Spacewalk Bridge: Public Launch on Amplitude Now Live!
https://medium.com/pendulum-chain/spacewalk-bridge-public-launch-on-amplitude-now-live-2d60b4b51392
Its also probably worth mentioning the expected upgrade release of Polkadot v2 in early 2024 - without going into great detail Polkadot is moving away from the limited parachain leasing model to a more pay as you go version which will make it far easier to develop on the chain and substantially increase the number of Parachains as well as greatly improve liquidity on chain. All good news for existing Polkadot parachains.
BLU- if I may just add to your optimism re Nabla - one of the most exciting things is the potential for RWA(real world assets) Nabla aim to become an on chain exchange for RWA and if successful the possibilities are huge. For those unaware of this development this link should explain the basics.
https://www.rolandberger.com/en/Insights/Publications/Tokenization-of-real-world-assets-unlocking-a-new-era-of-ownership-trading.html
India’s video game market is the fastest growing by gamers and revenue, which is forecast to reach $1.6 billion by 2027, growing at a 5-year CAGR of 17.2%.
https://nikopartners.com/india-games-market-report/#:~:text=The%20number%20of%20gamers%20in,%2Dyear%20CAGR%20of%2010.1%25.
GAZ - Please dont think i am questioning your integrity here you have always proven to be a very balanced contributor which is why i bothered to go back in the first place.
Slug - again thats R&D grant - not a loan.
Gaz - i've looked back through all RNS back to 2017 and can find no reference to the Stellar Loan notes you mentioned except the £550k USD in 28 May 2020. There was an R&D grant in 2021 for Pendulum development (no figures released) but nothing else that I can find.
Slug - you have made many very valid points and made everyone aware of the negative points to be wary of regarding this stock, but one has to question the relentless need to post the same points over and over again # Ariston :-)
BLU
Had a look at the finances and this is how I see it
Back in Nov 2021 Pendulum raised $5m (about £4GBP) and since then have received grants of £100k from Stellar for the spacewalk bridge and another 150/200k from Berkely Accelerator (cant remember the exact amount) so raised somewhere around £4.2m.
Since then the launch of Pendulum tokenomics has provided a treasury of 13% PEN tokens and with a fully diluted market cap currently at around $15m the value of the treasury tokens are around £1.5m ( these can be used to support the development of the ecosystem) and obviously the value of these can either go up or down. So all in all over the last two years roughly £5-6m is in the coffers.
We also have the upcoming Nabla launch – we don’t know the tokenomics of this but rest assured Pendulum will retain a sizable chunk of AMBR tokens as well
So from a Satoshipay perspective its safe to assume that Pendulum will be paying Satoshipay for the development costs ie staff costs (and especially for slug the networking/travel costs 😎)
Back in 2021 the staff level was less than 20 and has now been increased to around 30. Its almost impossible to estimate the wage bill. A blockchain developer can earn anything from 30k to 150k, but looking at the staff list it looks like many are working remotely and probably part-time and it is very common in this sector that basic wages are on the low side but with added token incentives - the tokenomics show 16% of tokens have been allocated to the team - (as an extreme example Gavin wood was paid next to nothing developing Ethereum, taking ETH instead -today hes worth £500m)
So my wild guess is that Pendulum will have paid Satoshipay between £2-3m over the last couple of years for development costs.
In addition to this they have 5.5% of PEN tokens currently worth around £800k and will be allocated 5% of Nabla tokens in the next few months. And the December 2021 accounts showed £442k cash at bank. There is also Satoshipay GMBH to take into account but we have no financial info there.
Finally there is also (I assume) limited income still being generated from Dtransfer
So the long and short of it is that Pendulum have at least 2 years of funds to continue paying Satoshipay development to before the need to create revenue from all the relevant partnerships/apps/gas fees etc
And that doesn’t account for the (probable) increase of the PEN/AMBR tokens during the upcoming Crypto bull market next year as well as the option to raise more money from the 10% PEN tokens already allocated for that purpose.
All in all finance is not a concern (to me at least) but I will concede that the development is slower than one would like, albeit often the case in the strange blockchain world.
Blu - I havnt done a deep-dive into synapse but they originally started as nerve finance and from memory the original whitepaper was 2019/2020 I think - No idea of delays along the way.
It was the creation of Dtransfer and the liquidity issues that instigated the whole Pendulum/Spacewalk initiative in the first place and much was made on a re-launch once pendulum had resolved those issues, so I assume that the ‘sidelining’ is simply down to the limitations that it experienced until the Pendulum/spacewalk protocol is truly functional.
Back in 2020 (i think) they hailed 1,000,000 USD cross border payments so one assumes that the existing (limited) transactions are quietly continuing as Tony clearly stated earlier this year that Satoshipay was now in profit. So its a wait and see situation.
Re satoshipay finances I dont actually think there is an issue, I will look at things closer and post my thoughts