Here we go with our September recap! 

 

Korporatio aims to create a new generation of cutting edge, truly global businesses, led by entrepreneurs who are citizens of the world. A new era in which everyone is empowered to incorporate, innovate and realise their dreams.

 

GENERAL

Q3 is officially getting to an end and it has been another busy month for the team. The range of offers we provide to our users has not reached a new level. And with still 3 months to go before saying goodbye to 2020, I am very excited to add even more.  

 

DEVELOPMENT IN SEPTEMBER

Last month, we shared about the new update on our website. If you haven’t read our previous monthly recap I would suggest to give it a few minutes of your time.  

The new pages as well as the new payment options have been a big improvement on our website. And we are amazed about the fact that every single one of them got used placing orders last month. 

Obviously, we’ve also found some issues in the workflow. The email notifications weren’t coming in correctly but luckily, the problem was just a minor issue and we managed to fix it quite fast. 

L2 Migration

For the rest, the team is now busy working on the L2 migration. I shared last month that this update is essential to make sure we can keep delivering Smart Companies to anybody. Most importantly, however, it’s to make sure a lot of headaches will be left at the door and time will be used in a better way than just waiting for the ETH gas price to go down. 

We are aiming to launch everything by the end of the year and I can share we have finally decided we will use xDAI as selected L2. 

We have considered every possible option and xDAI has become our final option. This is simply because today, it is the solution that requires the least amount of work to migrate as well as the one that keeps the current workflow as similar as possible. 

Unfortunately, there are some issues with such a migration, and to be specific, two: 

  1. xDAI doesn’t support Oraclize which is the oracle we have been using since the beginning to capture the USD/EUR values needed when shares are transferred. We got, however, a very good surprise workaround on this issue. xDAI uses a wrapped DAI to run, which means instead of having a price volatility correlated to ETH, with xDAI the price will always be US$ 1.00. This is not a total bulletproof model, but we believe we can remove those lines of code and calls to external services. In this way we should be able to optimize the code more than when we were on ETH. 
  2. xDAI doesn’t support the gas station. To be honest, this was a bit of a surprise. We have been big fans of Portis as we have integrated their wallet months ago already. Portis is also one of the official validators of the xDAI chain, but unfortunately the gas station is not available there. Hopefully it will be implemented at some point. For the time being, however, we will need to transfer xDAI manually to each wallet that needs it. 

Having said all that, however, we feel confident we’ll be able to deal with such issues and the workflow should remain quite smooth for non-blockchain users that wish to use the Smart Company model. 

MARKETING IN SEPTEMBER

Our collaboration with the team at hardforking is growing and we have managed to create some more videos during this month. 

We have managed to record a total of 7 videos together: 

  1. The first is about the new show that the channel has launched;
  2. The second is about a quick review on the market crash that happened few weeks ago;
  3. The third is about the second episode of the show;
  4. Number four is about a bit of technical analysis with a daily trading;
  5. Five is about the Uniswap airdrop;
  6. Six is about episode three of the show;
  7. And the last is a small explanation of the play-to-earn game Axie Infinity.

These videos are not related directly with Smart Companies. But for people interested in learning more about the blockchain world and this industry, there is enough material to have a first general view of how the space is evolving. 

As we have started this video strategy approach for marketing, we had to add something else on the plate 😀

Sylvain Cloutier has asked me to have a nice chat about Korporatio, the good and the bad around it. You can find the full interview here.

DAO, FOUNDATION AND SMART COMPANY

We will probably write a dedicated article only about this topic. But I thought it would be good to add this here; as well as that is part of the new products we are now offering. 

DeFi is currently the hot topic in crypto (and NFTs too). Therefore it comes as no surprise that a lot of new requests around this topic are coming our way.

The main situation is the following

There is a use case developing a smart contract wishing to airdrop governance tokens to the token holders and do all of this in a legal way to ensure everything is done correctly. 

Thanks to a group of lawyers and incorporation agents, we have reached an understanding of what can be done. 

The team can create a foundation and place the address of the smart contract as an asset owned by the foundation. The foundation is in charge of managing the assets, but cannot carry any business activities. Therefore a Smart Company is created as well so that the foundation is able to hire the Smart Company for jobs such as improvement of the smart contract, security checks etc. The beneficiaries of the foundation are the token holders. This means the holders can vote via the DAO to decide the future of the token. And the foundation can ensure that such decisions are executed. 

We will write more about this as it is a very unique model to merge blockchain and real world. But for the moment, we wanted to share that we can help with this if anyone is interested in having a chat 😀

 

For this month, this is everything we have to share, as usual, if you like to chat feel free to join our Discord at discord.gg/g3m33DZ . 

Monthly recap Smart Companies