Welcome to your May issue of Callisto Network Insider, a look at what has been happening recently inside Callisto Network.
Happy Birthday to Us
In America, April 15 is one of the worst days of the year – the day Americans cough up their annual tax payments to the government. Here in Callistopia, April 15 is a much happier occasion.
It’s a birthday.
Five years ago, on April 14, 2018, the Callisto Network and the CLO coin were born.
Over those five years, CLO has continued to grow as we added SOY Finance, Absolute Wallet, and other projects. We’ve expanded the team, and we’ve innovated all along the way with projects such as ERC-223 that prevent crypto users from inadvertently sending tokens to a wrong address.
But that’s just the beginning of what’s to come.
Our birthday present to the Callisto Community is the release of the updated roadmap on May 1 that shows where we’re headed.
So, Happy Birthday, Callistonians. Five years old and many, many more years to go.
I Read It on Reddit
The Callisto Network is not only a year older, it’s growing larger!
Our membership on the Callisto Reddit is now approaching 7,500, an indication that more and more people see value in being a part of the Callisto Community.
As part of our growth, we’ve redesigned and updated our crypto subreddit, which you can see here.
For the team, the growth and the redesign represent an opportunity to tell our Community that “You play a pivotal role in the crypto project!”
In recent weeks and months, we’ve been improving our communications with the Community by publishing more news (like these newsletters), through videos on our YouTube channel, by regularly distributing articles about the latest goings on inside Callisto Network, and by regularly hosting AMAs.
Our goal is to keep the Community informed and updated about project developments and milestones and to foster a greater sense of transparency and trust.
The next step: Encourage the Community to take an active role in shaping the project's future. A part of the CLO treasury will be allocated for that purpose, but more to come in the next few weeks.
Moving on to…
The CLO Money Machine
Slovakia’s Bitcoinmat, a provider of ATMs focused on crypto-based transactions, has officially added CLO as one of its available currencies.
That’s huge news because it increases CLO coin’s visibility and recognizes Callisto Network on the same level of legitimacy as Bitcoin, Ethereum, Tether, Solana, BNB, and others.
Through Bitcoinmat, crypto investors can buy CLO by way of a bank payment card and have CLO deposited directly into their Bitcoinmat wallet. Or they can convert CLO into fiat currency on the spot and withdraw it for spending needs when they’re out and about in any of the cities in the Czech Republic, Slovakia, and Greece where Bitcoinmat operates its 60 ATMs.
As Bitcoinmat expands its operations globally, it means more and more eyeballs have a chance to see and learn about Callisto Network and our CLO coin, which can only help us grow even larger.
Next, we move to…
333 Down … More to GO
In the five years we’ve been around, Callisto’s Security Department has gained a name for itself as one of the best in the business of security audits.
Well, we’ve recently just completed our 333rd security audit.
That audit was the ever-popular USDC, the U.S. Dollar stablecoin widely used globally.
As you might expect, there are no truly severe issues with the USDC contract. However, there is one low-severity issue to note: The known vulnerability of the ERC-20 token. As the Security Department noted the problem is a “Lack of transaction handling mechanism issue. WARNING! This is a very common issue, and it has already caused millions of dollars in losses for lots of token users!”
You want to read the entire USDC security audit here.
The Next Iteration of AI
By now, everyone paying attention has heard of Artificial Intelligence and all the ways users are calling on Midjourney, ChatGPT, and other programs to help with everything from creating hyper-realistic art to writing college term papers.
Callisto Network aims to be part of the process by designing so-called “neural networks” that will be able to automate the process of bulk code reviews. That will save days’ worth of time since these networks can analyze code—and even fragments of code—in the blink of an eye.
The team, led by Dexaran and Yuriy, has begun creating what they call a “security crawler.”
As it is now, 90% of the DeFi dApps that currently exist are essentially clones of one another without much custom coding. Thus, a security expert looking for vulnerabilities like won’t find many because the coding is pretty much all the same from one platform to the next.
As such, Dexaran and Yuriy realized that to improve smart-contract security, they needed a security crawler that will continuously analyze the code of newly created contracts in order to check for well-known vulnerabilities that hackers have used in the past.
If a vulnerability is found early on—before the contract has accumulated significant sums of money—the problem can be fixed long before the site attracts the interest of hackers.
We’ll have more on this later as Dex and Yuriy build out the product.
Community SOY Listings are Back!
As of April 10th, the community is once again involved in picking the next projects to be listed on SOY Finance. And the winning projects will not only be subjected to a smart-contract security audit, but they’ll also earn a 5x boost in yield farming.
The process occurs in three phases:
- The Soy Finance community submits on Reddit tokens for a potential listing.
- A poll is set up in which community members vote on the proposed tokens.
- The top three tokens head to a Twitter poll, where the whole crypto community votes on which one to add.
In the most recent listing poll, the infamous Doge Coin won. It has been audited, and a listing date will be announced soon.
More listing competitions are coming, so stay tuned.
Keeping with SOY for a moment longer…
25% of SOY – Dead Forever
As part of the Charity NFT upgrade, Community members spent 1.3 million $CLO to buy almost 500,000 $SOY in order to upgrade Charity NFTs into the new Callistonian collection that offers yield boosts when staking.
All those $SOY tokens have now been burned, proof of which is here on the Callisto Network explorer. We have also burned 5.7 million $SOY from the undistributed tokens that were part of the Soy Finance Airdrop Phase 7. That proof is here.
As of now, the max supply of $SOY is down to 450,723,166 … meaning that overall we’ve now burned 24.9% of the original supply—a quantity of $SOY that will never return.
And the burning continues. More soon.
Also in SOY news…
SOY Roadmap 2023
SOYFinance has released its roadmap for 2023, our path forward over the remainder of the year. (You can see the roadmap here.)
Among the various improvements, upgrades, and new products on the way are:
- Decentralized Insurance: SOY will be the first platform ever to offer its users insurance to guard against a hack …meaning Soy is about to revolutionize the DeFi space.
- Soy Cross-Chain Bridge: This will allow SOY Finance to further leverage Callisto blockchain advantages in a seamless way for users.
- SOY Governance: DeFi is all about decentralization, so will prove that by giving the Community the power to control the SOY platform.
Also coming is SOY Finance v3, a redesigned platform aimed at making the DeFi space easier to navigate. You can learn all about that in a special YouTube video we published in which Dr. ZS, and Nadia, a talented UI designer, talk about the changes.
And with that, we end our look back at April and look forward to an exciting spring in the world of Callisto Network.