Before we get started here is the last big article I did back in May. Take a look back if you want to know what my thoughts were then vs now.
https://www.publish0x.com/dynamic-weekly/dynamic-weekly-36-xykgwrd
Below are my thoughts and data on the last year
Long term price charts
BTC price chart
In terms of BTC DYN has reset it self over the the last year. Initially back in may we had reclaimed the 2700 sat level and were retesting it as support and building a nice lauchpad to go higher until BTC lost its footing and the entire market collapsed with it. Since then we have failed to break the downward sloping trendline and lost support at 1000sats. Note that the last few weeks whitebit and citex price data have not been recorded by CMC or Coin gecko so beware of that while looking at the rest of the data. DYN needs to break above the 1000 sat level.
USD price chart
USD chart seems to be setting up to challenge the red trend line like I thought it may do back in May/June when we initially bounced off the upward trendline before continuing the decline with BTC.
Both charts dont bother me, In fact to me they are showing that its time the price is going to turn around. Especially if BTC continues to hold and or resumes its climb to 100K+
Nodes/Holders
In the last year we went from 1102 nodes active to 4413 nodes active and that does not include nearly 200 nodes that remain inactive each week. Since I started tracking data we have averaged 79 nodes per week (3964 new nodes). 79 nodes a week locks 79k tokens, each week only 9450 coins are created..... that is pretty crazy by itself. We are ranked as the 6th largest masternode network in the world based on Active nodes, if you include inactive nodes we would rank 4th. We have ROI's on par with some of the largest tokens out there (Dash, SYS, Zen) and our nodes are affordable for anyone to run. In the last year the coin supply has increased by only 464K out of 15.565M. Roughly 3.08% inflation rate. However the both the total and percent of coin supply locked in nodes increased drastically this year. 3.964M coins have been locked in new nodes and % of supply locked increased from 35.78% to 55.67% (includes team owned coins)
Trading
Lets talk about volumes. Same Story as back in May. The amount of DYN for sale continues to decline. Volume in non existent, and Buy support it near its yearly low. To me this data with the Node growth tells me that there is a supply shortage in DYN which should drive prices higher but the real issue like we all know is there is no new buyers coming in. Existing holders make up the majority of buy support in my opinion and they are mostly content buying coins cheaply In addition the only sellers are people with short term outlooks and or miners. Lack of marketing, lack of any community outreach really outside of discord leads to charts like this. We all continue to express this to the team and seems like there is some movement coming. However don't expect it to be a new exchange listing or an expensive ad campaign. One thing we all can do is put a few buy and sell orders in the books even if they are tiny to reduce the spread. This is the reason given why CMC and coingecko are not tracking data from Whitebit and Citex.
Social Media/Community
While there was initially some very large growth this year especially in the China community growth has flatlined and is gradually declining. It is no surprise to me considering I post as much or more than the team itself does on twitter. That being said I also don't see anyone else promoting DYN on social media or writing articles. Instead its mostly complaining. Note that the massive increase in Dec/Jan was mostly addition of twitter metrics i hadnt tracked before but also aligns with the whitebit launch/trading competition when we had easily our biggest social media/community campaigns going. Everyone was posting/retweeting about DYN. We need to get back to that level of excitement and the team needs to make the effort to post more on social media even if it is just retweeting health care related articles or something to show they are still alive.
Development
While it may not seem like there is much to show after a year alot of the work that happened was setting up the building blocks the the big things to come.
This year saw the release of Dynamic 2.4 and 2.5 along with the newly sporked DAA and audit/certificate capabilities. The stuff we dont necessarily see is what will enable PIX and other DApps to bring DYN into the future of Healthcare. Smart contracts, SDK development, wrapped DYN, and the planned change to Masternode POS are just some examples of the many things in development.
Impromtu AMA with the team (summarized from Discord)
Q: Can you tell us about the status of pilot sites to test pix when released? How many locations/amount of patients per location etc. Are you actively signing up more test sites or seeing interest.
A: We have two hot leads and three warm leads. The hottest lead is a referral from Dell Med. They have seen are demo and are interested in integrating PIX into their telehealth environment. They are a large clinic network in Austin with approx 500k patients. The next step with them is for us to understand their registration process in more detail to see how we can fit in. If its a technology fit, there is a strong possibility we can pilot PIX when the MVP is released in Oct/Nov. The other hot lead is a private practice in Dallas. One of our advisors is a partner and she said whenever we're ready we can pitch it to them and see if they want to pilot. We've talked to them and at a high level they are interested. There are some technology constraints because they run Greenway while PIX is currently built for Epic. The next step with them is to finalize our sales presentation and schedule a meeting. The warm leads range from a large hospital system in Houston to a funded project within Dell Med. All the use-cases are a bit different. The goal is to find the perfect fit but we may have to pivot as things progress. Either way, securing a pilot site is our next big milestone and something that will have to happen before we move forward.
Q: How many devs/other employees are currently employed by duality solutions and duality health? Do you plan to expand the team anytime soon to accelerate development and or growth in other areas (marketing/sales/advisors)
A: Between both companies we have a total of ten employees and nine advisors. We do not plan to hire any more employees until our next funding event. We've made a conscious effort to use all resources to get to revenue with PIX. This will drive demand to the blockchain and DYN. Without use-cases we have nothing. The majority of other crypto projects rely on token sales to survive. We do not believe this is sustainable so our goal has always been to generate revenue from a real-world application.
Q: Outside of selling DYN assets held by the team approximately how many months of operating expenses can be covered without new capital or something else changing. A: Our runway gets us through April 2022. We are actively raising our preSeed round. Q: I know you have been taking meetings and getting intros with new investors, where are you at with a new/existing capital round , and how would you generally expect to allocate new capital whenever it came (dev, marketing in crypto space, healthcare industry outreach brand awareness, new hires/growth, exchange listings, expand reserves, sdk, mobile app, etc)
A: I have a least one meeting a week with an investor. The majority of them have said we are too early, that we need more traction (i.e in pilot or paying customers). Thats why securing a pilot site partner is number one priority right now. At a minimum, we need it to raise institutional money. I have a long list of VC's that have told me to contact them once we hit this milestone. Worst case scenario, if we can not raise outside capital by the time we run out of money in early next year, we will continue to self fund. When we do close our preSeed round of $1.5m, 50% will be used for dev (new hires) , 30% for commercialization (sales & marketing) and 20% working capital.
Q: Why $1.5m? Can you need more? I don't think the $1.5 m team will last long and can't expand the market quickly.Duality needs a lot of VCs to come in. Even if each VC invests a small amount, We needs their resources too(For example, Coinbase Venture means that it can directly connect to Coinbase Exchange).There are many such cases:Dozens of venture capital institutions have invested in a project. But the total investment amount is not large.So, I suggest that the team can also take the number of venture capital companies introduced as the evaluation index. If the team can't solve more funds , I think this slow development process will continue,Maybe this time next year, we are still discussing funds.
A: Yes, I agree, raising more funds will theoretically make things go faster but it is a strategic process. We're not just selling tokens, we're also selling equity. If we raise $10m when the company is only worth $10m then we give away a large chunk of equity. The idea is to raise the minimum amount to hit the next big milestone that increases the company's valuation and then raise more money. That's why you have Series A, B, C, D, etc.
Q: What is status of DGA? Roadmap claims December but I doubt that is the case. Any more information you want to share at this time?
A: We will release an updated roadmap next week. Yes, everything is delayed including DGA however it all is still very much in play.
Q: If the pilot is successful, Are you considering introducing crypto venture capital for DGA or Company? Crypto venture capital,Not traditional capital. Can Dualtiy's resources and channels connect with the well-known crypto venture capital?
A: Yes, absolutely! The pilot is vital to both traditional and crypto VC. It provides traction on both the application level and blockchain infrastructure. Once we begin pilot we will immediately begin raising capital on both fronts. we have connections but are always looking for warm leads so if you know anybody please don't hesitate to share.
Q: Everyone's EMR is unique, and NFT is also unique. Have you considered NFT EMR？Unique NFT EMR +Unique PIX=Double Guarantee,Whether it is easier to convince hospitals to understand and adopt？
A: That is an interesting idea and something we can do a tech dive on. You're right, convincing hospitals to understand and adopt such a technology will be difficult. We must slowly bring blockchain into healthcare and from my experience on the HIMSS Blockchain in Healthcare Taskforce, something like NFT's would be in the 3-5 year horizon. Always good to plan ahead though and have a roadmap to stay competitive in the future!
Q: Can you give us an updated timeline for wrapped dyn? Is there any plan to incentivize lp?
A: WDYN is ready, the tool for wrapping/unwrapping is not yet. October 1st is the date I'd like to push everything live assuming everything goes mostly smooth.
Latest news/developments
With 2.5 released and the new DAA spork activated we should be a bit safer from future unintended forks from anomp mining pool. Target for WDYN is Oct 1st.
I was hoping a new roadmap would be shared before this article was released but for now we all just have to wait and watch for team update soon
#HODL
