Firstly, we want to congratulate the entire ALLY team for being selected by Gate.io Startup program, one of the best and trusted exchange platforms out there for IEOs.
Please see this article for the details re. Ally’s IEO announcement: https://www.gate.io/article/17016
This is very exciting news, as this marks the first project using components of Skrumble Network’s technology issuing its own token, it is only going to be the first of many. We are looking forward to seeing the great value this will add to the entire SKM network and its token holders.
Below are a few questions we’ve received from our community, and we want to answer them here:
- What’s Skrumble Network (SKM)?
Skrumble Network is a public chain, similar to Neo or ETH, but it specializes in communication and media specific requirements. It is the first of its kind. Skrumble Network is also building its ecosystem by investing and incubating multiple platforms and dApps. In the future, as these projects grow, we believe that it will also naturally help SKM and its public chain adoption and awareness.
- Relationship between Ally and SKM?
Ally is an independent team and is built using Skrumble Network at its early stage. They are also working on a complimentary incentive layer, their own technology which will help other projects in the SKM ecosystem.
SKM and Ally have a deep level of collaboration; SKM is an early investor and supporter in Ally. In return, Ally has built its first-generation token economics based on Skrumble Network. SKM is the first token which was supported by the built-in Ally Wallet within Ally Chat. SKM’s community group is also the first of Ally Chat.
- Will SKM continue to be supported on Ally Chat and in Ally Wallet?
SKM will be continued to be supported on Ally Chat and in Ally Wallet. Other incentives and partnerships are being worked on as well.
- Why do you need ALY token?
Naturally, a token designed for a public chain is very different than the token designed for an application-focused ecosystem. As Ally grows more mature, Ally needs its own token economics to grow its ecosystem and get more users.
Please refer to Ally’s whitepaper to learn more about its token utility and economics.
- Why is Ally an ERC-20 token currently?
Ally’s first version is an ERC-20 token. The reason for this is simply that it is faster to use ERC-20 tokens to get quick approval for multiple exchange listings currently. However, this will change in the future.
- What’s the implication of Ally’s IEO on SKM token holders and Skrumble Network Ecosystem?
Ally was the first dApp built on Skrumble Network. Now, Ally has not only leveraged the technology and protocol from Skrumble Network but has also started building its own complimentary incentive layer to grow its ecosystem.
Skrumble Network, itself is a communication-centric public chain, and will continue to support similar platforms and dApps to start-up and grow. This way, we will have a stronger community and ecosystem.
We believe that after Ally’s IEO on Gate.io, it will help further grow the users and ecosystem of Ally and SKM. Also, Ally will focus on bringing more projects to the Ally Wallet and Ally Chat. As Ally becomes more famous, SKM will be more well known.
- What’s the token usage for SKM? What’s the plan to grow the ecosystem of Ally?
We believe that any network is only as good as the applications and platforms using it. Skrumble Network will continue building its public chain usage and will have more collaborations with other projects. As Ally becomes more mature and successful, this will truly help build SKM’s ecosystem as a great case study example for more projects to build with Skrumble Network.
In addition, Skrumble Network has already set up an ecosystem fund to continue the growth of its ecosystem. This will start in Toronto, Canada locally and then will be expanded globally. If you are an awesome team/developer and are interested in building within the Skrumble Network ecosystem, please contact us via firstname.lastname@example.org.
The community and core developers building on Skrumble Network are very excited! We will reveal more after we finalize exact terms with the Ally team in the coming weeks.
We are also happy to hear from you re. How to build the SKM ecosystem! Let us know your thoughts!
Thank you all for continued support. We are very excited for the future of SKM!
Skrumble Network Website: https://skrumble.network/
Ally Official Website: https://getally.io/
Ally Official Announcement: https://getally.io/news/?lang=en
Ally Official Telegram Group: https://t.me/allyecosystem
Gate.io’s Announcement: https://www.gate.io/article/17016