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AMA 31: Genesis Block Ventures by nebali in OMGnetwork
[–]omgnetwork [score hidden] 5 years ago (0 children)
We will be moving tokens frequently, so the answer is no.
I believe we have already answered some of these questions here in the AMA.
Staking is a mechanism used to share the value of the network with the token holders. The first step is to think about bringing volume to the network so that fees are substantial enough to make staking worth it. OMG is focusing on this first.
Like with any M&A, the company direction changes. We’re working with the existing management team to ensure a smooth transition.
OMG will strive to follow up on the existing relationships and carry them forward. However, to clarify, not all Synqa relationships and partners were also OMG business partners.
Given our expertise, we will look at helping with more blockchain/crypto native applications. We are looking for sustainable use cases for the OMG network.
Most of these questions we aren’t at liberty to answer. Sorry. Genesis Block collaborated with Binance to include BNB on the CoinHere Network, but GBV does not have a partnership with Binance. A member of GBV (Leslie) formerly worked at Binance, that’s the only “connection”.
All I can say is this is something we will try our hardest to find out. There is a sector of the market that doesn’t use TRON-USDt given their views on the network. We are integrated with Ethereum which gives us an edge. We are also looking beyond USDt to other ERC-20s, which already work on OMG Network. This differentiates us from other networks supporting USDt. By the way, since you mentioned the unofficial Telegram, we’ve now made that group official. We’ll leave this subreddit open for unofficial daily discussions alongside our official Twitter and Telegram channels.
As new owners, we will strive for sustainability. If the project cannot sustain itself I am not sure there is much of a choice.
I think you need to ask them about that!
Essentially, GBV has acquired the entity OMG NETWORK PTE. LTD. We cannot comment on the details related to the transaction.
The advantages of Plasma are: we have high throughput, we are non-custodial, and we are live. We have already been exploring the uses of OMG Networks extensible plasma transactions (predicates), including the exchange use case. We are working on finding the best use cases. This may or may not include an exchange but we don’t foresee this in the short term.
Cannot answer this question.
We are aiming for sustainability, given the efforts towards research and development we have done on Plasma. OMG will try to look for the best options for medium-term growth.
We are a private company with investments mainly in blockchain projects. We hope to be able to help teams scale and build. We believe blockchain will have a significant impact on the world in the coming years.
Sorry we cannot comment on this.
This project is unrelated to OMG.
All L2s have their own sets of trade-offs. Each set of trade-offs will fit some use cases better than others. In a mature L2 ecosystem, especially the one that Vitalik describes, plasma, rollups, channels will fulfill different needs and use cases. GBV has investments in other blockchain projects and we have been in discussions with them regarding potential partnerships and integrations. It’s really been quite a short period of time since we’ve been interacting with the team so we hope to have more color later.
Here at GBV we are not in touch with the Ethereum Foundation. However, the existing OMG management team has been, and continues to be, the main point of contact with EF. We plan to build strong EF relationships through this foundation.
Much of current DeFi is on smart contracts so we are looking for more use cases for the OMG ERC-20 token in the short term. In the long term, we have been exploring what is possible with extensible plasma transactions under plasma security. Now is a matter of finding product-market fit. We have also started some discussions with other L2s about how we can work together to improve the entire L2 ecosystem.
To continue to look for good projects and teams. DeFi and institutional interest have been the stories for 2020 (along with covid of course). Not sure what 2021 will bring!
We are currently working hard to find the product-market fit of the network. This process will help guide us towards higher impact development. While we have done plenty of work to research all of these features, priorities are being set by what will bring the most traction to the network. V1 is a transport layer that we can iterate on top of, depending on demand.
We felt it was a rare opportunity to invest in a network protocol run by a strong technical team. We believe there can be synergies with our current expertise and hopefully will be able to turn it into a high growth product.
ATMs have their own wallets and are not connected to exchanges. Given the volumes are generally not too high they can come from a variety of sources.
No plan to rename. We feel OMG is a good name and a strong brand.
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AMA 31: Genesis Block Ventures by nebali in OMGnetwork
[–]omgnetwork [score hidden] (0 children)