Links
Youtube link: https://www.youtube.com/watch?v=MC3pscqnEjI&t=70s&ab_channel=Tellor
Project website: www.tellor.io
Twitter: https://twitter.com/WeAreTellor?s=20
Discord: https://discord.com/invite/n7drGjh
Summary
This week's call revisited the schedule for Tellor X release. There was a mention about the results of the audit, the hackathon and also some Ethereum events where the team will participate. A short status was shared on the progress made on the new website. After that a few questions were asked about future plans, and other future related topics.
Whole discussion
Nick: Hey everyone! Welcome Tellor community call, October 19th, 21. Should be a quick call but lots of really good updates. First one, last week if you guys remember, we had Tellor week. We had the whole team out and it was a really great time. We got to meet all in person, as part of the core group. Don’t know if there’s anything we necessarily need to add in there. It’s just great meeting everyone.
Mike: I think we have one good group photo we’ll share it on twitter so you guys can see the team.
Nick: I know it was really good, the community call last week was really good too and so make sure you go and kind of watch that. Other things; on the dev side the big news of the last week is we got the audit back. To kind of go over the audit, so we sent it out, it’s been tweeted out if you can’t find it or anything just ask. Ask in the discord or anywhere, we’ll send it to you. So, the results... there were a few issues in it, not going to lie, they found some bugs, but we paid the guy some good money to find some bugs and he did. He was really good at it. The contracts looked super clean and we’re very excited that we can kind of move forward with it. We’re making those, we’re just making the last few fixes now, the timeline for Tellor X at the moment; probably later this week we’re going to be deploying the audited, the fixed contracts and we’re going to be deploying them on Rinkeby. Not to the normal Rinkeby address, we’re going to deploy a whole new instance probably for two weeks, then we’re going to go through the whole process of upgrading the main Rinkeby contract. So, we’re actually going to do a vote, we’re going to simulate it all being on main net, that way we can kind of test everything out the votes a week and then we’ll launch it and then probably test another week or so on Rinkeby. Which would then put the vote sometime in about a month. That’s the rough timeline for where it is. So, the week-long vote to switch over to Tellor X, we’ll probably start in about a month, could be a little bit longer if there’s any hiccups along the way. Sometime in there we’re going to launch Tellor X. Everybody’s super excited and we’re definitely more excited than probably anybody else, but the building out of PyTelliot, it’s the website, that stuff is all sort of ready at the moment for Rinkeby to deploy and to start testing that stuff. So, we’re really super excited to get that out and you know if there’s anything you want to test on Rinkeby, if you want to write some new query that you think you may need some new piece of data, just let us know. I think that’s it on the dev side. Mike, anything?
Mike: Just a couple updates; we published a new article, we haven’t tweeted it out yet, but it’s published on our medium. You guys might have seen that but we were just waiting until later today to actually to shoot it out. It’s a good one, it’s called “Decentralization: How Tellor does it”. It’s a nice byte-sized light bit of material that I think you guys might find useful when talking about Tellor. It really sort of gets at the heart of why we do the things the way we do them and why it’s meaningful and what sort of separates us, not so much on the technical level of how oracle works, but how we built Tellor as a protocol, as a community, as a company. So, stay tuned for that, probably right after this call. Eth online ended last week and we congrats to paperfacts, they were our grand prize winner. Your bounty should be on the way I think, if not, it’ll be out on the way today, depending on whenever gas prices go back down, probably either tonight or tomorrow morning. So, thanks for contributing to the hackathon. Another bit of exciting news that we’re working on is, I don’t know if you guys have seen the, “just use Polygon” music video, but we’re actually really excited, we’re going to be working on two music videos that we’re going to launch sometime leading up to the launch of Tellor X. So, sometime around halloween, one will come out, so actually pretty soon and the second one sometime mid-November. I don’t want to give too much details about what those are going to be, but we’re really excited. It’s a ton of fun. We’ve been waiting to do some fun stuff like this and yeah, stay tuned for that.
Nick: And then, other announcements, tonight, Ryan, any preview what’s to come?
Ryan: I think we’re all kind of in the dark on the preview, just because it’s going to be our very first twitter space, where we’re going to have a very casual, open talk about DeFi space, about oracles and just kind of where that discussion leads us. I’m excited to see if you want to come and join and speak. We’ll definitely open the platform so put your thinking caps on and get ready for some thoughtful discussion.
Nick: Then also, if you guys are going out to Lisbon, Portugal, we’re going to have our very own Ryan and Brenda be out there. Hit us up or if you think we should meet, let us know, that should be a really good time. Jealous that they’re the only two that get to go but...
Ryan: We’ll take lots of pics.
Mike: It’s really exciting because when we first heard of Eth Lisbon, it was this, you didn’t really know if it was going to turn into something that well attended or that big of a thing and it seems like if there’s a ton of interest in going to that event at least for people in Europe of course. We think it’s going to be a big event and it’s going to be great to have you Ryan and Brenda out there representing. Have fun and send pics.
Ryan: And then Eth Portland right after that, back-to-back.
Mike: You’ll be doing a talk on oracle extractable value, hot topic nowadays. It’s just great to have events on the horizon and on the docket here. Hopefully much more of that.
Nick: Alright, and then questions.
Mike: So, we’re going to get to some of the questions you guys sent last week, because we didn’t get to them, so, sorry about that, but we’ll answer them now.
Question1: What is the next step after Tellor X?
Nick: I think we had sort of talked about it. We’re trying to keep our focus a lot on Tellor X, so we don’t get too excited and we have to make sure that this is successful first. I think that’s the big thing and then it’s just off to getting more users. You know, really trying to sell. Tellor X has a lot more capability, so just making sure people know about them and trying to find the right projects whether it’s projects even on Ethereum or getting Tellor X onto some other chains and able to use those ones if people are being scared away from Ethereum. So, focusing on getting users maybe the next place.
Mike: I know we’ve had a number of conversations recently, since we’re, so people know that Tellor X is coming. In terms of integrating with Tellor, there’s a sentiment of we’ll just wait until Tellor X comes out because we’re just about to launch this thing so we’re in this lull period where if we’re not already through the integration process, people want to wait and see how Tellor X works and how it goes and then have those discussions afterwards, but we’re like super excited about that because it’s just a much better product. So, next question.
Question2: Where is Josh? Who’s working on the new website ui?
Josh: Where am I? I mean in Colorado, I don’t know what’s... But yeah, that’s an interesting question.
Mike: Where you want to go?
Nick: It’s coming along nicely Josh?
Josh: Yeah, it’s coming along nicely.
Nick: I think the repo is open source, right? What’s the repos name?
Josh: Tellor IOX.
Nick: So, Tellor IOX, go head over to the github if you guys want to help out.
Josh: Definitely help is always welcome, but I don’t know as far as timeline-wise and just everything... Ben’s design is fantastic and I know that he designed that with the help of everybody else in the biz dev side, and I don’t know, it’s just coming along really great and I’m excited to show it with you guys, but it’s not just me obviously, it’s everybody. Hopefully that answers that question.
Mike: Thanks for your interest, if you have any questions about the UI or feedback or whatever, go ahead and watch last week’s video where we did the walkthrough. That was last week Ryan?
Ryan: Two weeks ago.
Mike: Two weeks ago. It’s on the youtube, I...
Ryan: It was last week but earlier in the week.
Mike: Right. It’s uploaded on youtube, so give it a whirl and let us know what you think.
Josh: And if you’re on discord or anything like that, you want to hit me up if that’s what was the intent behind that question. Is like being part of it, or wanting to help out, just reach out to my discord, that’s just my name; joshua samaniego, s-a-m-a-n-I-e-g-o, the number is 64-73.
Ryan: I’ll throw that all in the description.
Question3: When are we going to see more utility?
Nick: I’m guessing they mean for the token.
Mike: Or for crypto in general.
Nick: I don’t know. I feel like you may be disappointed as far as the correlation between utility and price. A lot of people make that mistake, so you know utility people are using stuff way more and more just the UX on this stuff gets so much better every year and it’s going to continue to push forward. What that means for price is absolutely nothing. Just take it with a grain of salt.
Question4: After Tellor X the dev share mechanism will change. How much will the team’s rewards be? Will they have vesting schedule? How will they be sold on the market?
Nick: I love how Brenda, the person writing the contract literally just leaves as soon as... Yeah, so the first piece is, we’re going to be the way that the devs payments are going to work in the future, and now we get sort of a payment of the minting rewards basically at a fixed rate, since that’s how minting rewards work. Since we’re switching minting rewards, we have to vote them in with Tellor X initially for the first, I think, it’s the first year, what we’re planning on doing is just keeping, we’re just minting the original minting rewards and then we’re minting the dev share and everything like that. Just all on its own and then once that stuff runs out, we’ll have to come back begging to you guys for more money to vote to keep the team alive. That’ll be up to the community. We’re putting it on investing schedule, basically we’re just keeping it the exact same that we have now for the team and then we’re going to get it at the exact same rate that we have now. That would be just to keep it simple and uncontroversial as far as what we’re doing.
Mike: In terms of how they’re sold on the market, we’ve mentioned before that we just sell them on “as needed” basis. We try to be regularly, scheduled with that you know, we have monthly expenses, just like anybody. Salaries and bills and all that stuff and so we usually sell a small chunk off every month to cover those costs. And at the price you know, like if there’s crazy price movement or something we might take a little extra just to capture that moment. That’s kind of how we do things.
Question5: Is the release of Tellor X still on schedule for the beginning of November and are there any partnerships in the works?
Mike: I think that this question obviously was before. We mentioned that it looks more like the middle of November.
Nick: Yeah, we’ll kick off the vote probably mid-November, so end of November launch.
Mike: Sorry I have a small one here, I have to meet sometimes...
Question6: Will there be a channel for different languages and various ambassador programs?
Nick: Probably not.
Mike: Probably not. Unless there’s a huge demand for a specific language, but we get these questions all the time, do we want somebody to launch a Tellor channel in Saudi Arabia or something, or do you want us to translate your documents and this language or that language. I mean, maybe language, but we’re not really interested. It's most people just want this stuff in English really and not until there’s a real reason.
Nick: We’ve never had a way, to maybe once the community gets bigger, and we can have more of a vote, but we’ve never had a way to check up on it. If we pay to translate an article, we just have to believe you that it worked, because we don’t really speak many other languages.
Spuddy: I think it would be great if somebody starts a channel in another language and it grows. If you want to start another channel, it’s amazing and then if it takes off, that’s great, just start the channel, see what happens.
Mike: Usually, people want to make money off of this sort of service to offer and there’s just not much value there. I mean we did actually, we do have a Chinese speaking WeChat that is one of our early, probably earliest community member other than you Spuddy, remember key or however you pronounce the q-I.
Spuddy: I still have no idea how that guy found Tellor.
Mike: Yeah, neither do we.
Nick: Some Chinese guy bought like; he was the first person who reached out to be a miner.
Mike: He had a lot of TRB, it’s funny because I connected with him earlier this year out of nowhere and doesn’t hold anymore, but he was like he’s got broken English and he just sent a bunch of crying emojis, he’s like I sold too early. Anyway, he started a WeChat, so there’s definitely a few WeChat groups out there about Tellor but they’re not official, none of us are in them. We’ve done a few AMAs over there and then sort of left. Anyway, that’s it, those are the questions, thank you guys.
Nick: Thanks everyone! Looking forward to have a call next week and just send us an opinion. Until next time. See you!
Spuddy: Thanks, bye!
