Extensive research work conducted in Q1 and mid Q2 and the current market situation entail several adjustments to the current roadmap that re-prioritize some of the outlined releases.
Today, we encourage the DAO to vote on the following amendments to the roadmap:
I. Ethereum as the primary network
Being focused in Q1 with establishing core protocols on Fantom, conducting research and involving the Fantom community and partners, we reached many important goals. As ETHDubai co-organizers, we were also able to establish many connections within the Ethereum ecosystem, which can help us to concentrate on Ethereum as the platform of choice, as well as our own L2 network. Therefore, in line with the plans for the GTON Chain, envisioned as an Ethereum L2, we suggest prioritizing Ethereum as the primary chain for deploying the core protocols such as Pathway, Bonding, and Staking. Ecosystem products, such as farming, DEX, and other dApps, will be launched on GTON Network (GCNet L2). Thus, the expansion to other EVM networks is being moved to a later date.
Staking and bonding have been audited and are ready to be deployed on Ethereum upon the approval of the DAO.
II. GTON Chain is the key priority
In the current market, fundraising and deals with strategic partners and investors are more feasible for infrastructure-oriented projects. From a technical perspective, having a proof of concept on Ethereum means that it will take less effort and time to develop an L2.
Deployment of the envisioned DeFi products on our own blockchain also brings additional advantages as it automatically brings value and utility to the network. Moreover, taking into account the planned design and architecture of the products, we will be able to pre-select all the necessary features for the network design.
Therefore, we propose to move the development of GTON Chain (L2) from Q4 to Q2 and make it the key priority.
III. Whitelisting as the key short term marketing focus
The whitelisting approach to bonding is a great opportunity to revive the existing partnerships, provide value to the partners’ communities and establish new collaborations. We will focus on adding our current partners and recently emerged collabs into the bonding whitelist during the next two months.
IV. Bonding target price
Deployment on Ethereum will allow for using Uniswap V3 pools (USDC market) for Pathway which seems to be the best option, considering the current FTM volatility. This move will allow for the increase of liquidity necessary for Pathway V1 launch.
With establishing a higher price level that will trigger bonding, we ensure beneficial terms for the early investors (EB).
There are some points left that are the subject for the DAO approval:
- Currencies to purchase GTON with
With the approval of Ethereum as the priority chain for launching products, USDC and ETH on Ethereum become the most reasonable purchase currencies. The expansion onto other tokens and networks are subject to separate DAO votings.
- Bonding activation target price
The proposed GTON purchase price for bonding is $5. Thus, for the bonding activation trigger to switch on, the weekly average/median price should be at $5, and bonding will operate only if GTON price is higher than the activation target price. The DAO is allowed to vote to update this parameter as any other parameters mentioned earlier.
Rationale: monthly bonds get 60% ROI in GTON, that is why the weekly average price must be higher than EB price and Pathway floor price.