First thing first: we apologize to you, our community, for leaving you with very little communication during these past 4 months. Yet we thank you for your support during that time, and your faith in the DTube project.
We owe you some explanations
Launching 1st Round of DTC sale finally gave us an understanding of how big the demand for the DTC would be. We quickly noticed that the current fundraising situation would never give us the financial means we needed to achieve our ambitious goals in the whitepaper.
- IEOs require heavy "security deposits" that we can not afford with current Round 1 funds.
- Our STEEM income from the 2M SP delegation has been going downhill, and we are unsure what the new delegation committee wants, and whether we can actually rely on this income.
- Programmatic DTC dumping on markets was never an option for funding our company and hiring staff, since this model had already been tried without success by SteemIt Inc.
Obviously after more than two years of work on this project, it was a hit to realize that we had to tune down our ambitions by a lot. We took advantage of this period to re-think our long term strategy on how to make Dtube scalable and sustainable with limited resources. After all, Dtube's end goal was never about making money and giving people jobs, but about building a libre alternative to YouTube that would resist censorship and stand the test of time.
Mainnet Launch Adjustments
Given new circumstances, DTC's mainnet is scheduled on the 10th of May 2020.
Round 1 will be our first and last funding round for DTCs original supply, for reasons mentioned above.
The DTube Coin initial supply will be 4 millions DTC instead of the original 100 millions. Effectively, DTC will be 25 times more scarce than what originally planned.
Initial supply ratios we announced in the whitepaper will remain the same:
- 50% to the community through an airdrop (unlock mechanisms will be explained in the next blog post): 2M DTC
- 25% to Round 1 investors: 1M DTC
- 25% to Team and collaborators (core team, github contributors, curation team, translators, etc): 1M DTC
If less than 1M DTC are sold in the token sale on 10th May, the remaining tokens will go to the @dtube account and will be sold on the d.tube website at markets prices after the mainnet launch.
What should our users expect and what we will be working on until the launch of the mainnet ?
- Implementing different upload methods (BTFS, WebTorrent). We need more people to start self-hosting videos and the upload page will finally start reflecting that
- Polishing the sign-up process and more instructional information in the UI to make Dtube more user-friendly and easier to get started with
- Coding and testing the airdrop mechanisms
- Preparing for centralized exchanges listings
- Creating DTC-pegged tokens for decentralized exchanges such as Steem-Engine
- More documentation to experienced users willing to run a DTC node
- More documentation for new users coming from outside the crypto-sphere
- A new improved homepage
What will happen after Launch ?
No matter the financial situation, we still want to make Dtube a fully complete scalable product which can thrive in a decentralized way (i.e. without corporate funding).
Round 1 funding and our STEEM stake will be used principally to keep our infrastructure running for the years to come. All other expenses will be put on hold.
Development will continue at the same pace than before, with major patches coming in once every few months, introducing important features that already exist on popular video platforms.
Token Sale still continues
The token sale for Dtube coin still continues. If you want to participate in 1st (and last!) round:
Go to the Token page
Visit https://token.d.tube to learn everything about the DTube Coin economy and Buy DTCs.
Purchasing process: 3 easy steps
- Sign-in to your DTube account (or create a new one)
- Fill in the required information
- Select the amount of DTC to buy and pay with either STEEM or Other cryptocurrencies and check you Mailbox for confirmation
For support from the team and the community, please comment this post or go to our:
If you have lost your private keys, please read this article.
The DTube team
P.S.: A poll is running on our twitter about the recent Steem/Tron news. Feel free to participate :)