Weekly ADK Vol. 53 January 7 - January 13 2019
Translators (hajime, kazu, HALO)
(http://twitter.com/3284_hajime)
(http://twitter.com/nishinokazu)
(http://twitter.com/subjayc)
Hello! This is Yusui (@hirochang).
This week, I have too many topics to tell you!
However, I tried to write them as briefly as possible.
So I hope you can check them quickly!
=== Contents ========
1. About CryptoDAO
2. About the ETF
2.1. When will the listing start?
2.2. How many ADK will be locked up?
2.3. How much is ADK-ETF?
2.4 Progress of ADK-ETF
2.5 Summary of ADK-ETF information
3. About stadium construction & football business
4. About Banking business
5. About technology
1. About CryptoDAO
[Ricardo]
From what I had to cover from my pocket the number was around 220-250k ADK.
[Ricardo]
We have no way of tracking it as ADK is anonymous and we never know who owns each Wallet / address.
The only way I know about the amount is because I did give ADK to people who lost / could prove they lost ADK. So, the number comes from that fact. There might be more I do not know.
But again, from what I had to replace it can not be more than 300k ADK.
[Yusui]
If my memory serves me, CryptoDAO erased all evidences of the incident after all...
So, I think the quantity of ADK stolen by CryptoDAO should be larger than Mr.Ricardo has compensated.
Of course even if CryptoDAO's selling is the cause of the decline in ADK price, it is not all of the causes.
Anyway, I hope declining would stop soon...
☆Point
The stolen ADKs were compensated
from Mr.Ricardo’s wallet, not from Foundation’s ADK.
*The word "foundation" is parenthesized.. I guess it is because the Foundation is not an officially registered organization.
2. About the ETF
2.1. When will the listing start?
[Questioner]
Two months ago, you told ETF would be listed in December or January on Twitter, but now I recognize that it changed to Q1 or March.
Is that correct?
[Ricardo]
We did say Q1 2019, and also as always others can cause delays. Remember both banks? They were delayed but they were done.
2.2. How many ADK will be locked up?
[Ricardo]
With NSE, we have agreed to lock 10% of the total circulation as a security.
As for other countries stock exchange, we have not gone so far as knowing if we need to lock down with them as well.
2.3. How much is ADK-ETF?
[Ricardo]
The ETF will be offered at higher price then the "regular" ADK .
We are still talking with ETF advisors on how to price it, but it looks like we will release first ETF at 150-250% higher then the regular ADK price on that day.
The trick here not to go too high on the ETF and scare investors and not to go to low and ruin Regular ADK price.
2.4 Progress of ADK-ETF
[Ricardo]
Please keep in mind ETF has already started.
It did start when we did register Badoer Group ETF ... When it is fully listed is not in my hands. As stated by CMA and myself we are now testing in Sandbox mode
*Sandbox mode?
It is the stage where ADK team are testing off-line their technology and other things. Compliance such as AML is already cleared.
2.5 Summary of ADK-ETF information
· From here it is the work of CMA and NSE, there is a good possibility of being late.
· Current job on the ADK side is online banking, that is, it is possible to complete Sumac's online banking, update Sumac’s website, and enable to open banking account remotely.
· Of course, as mentioned in the past, the account opening fee is collected by ADK. By doing this, real demand of ADK will begin.
And the collected ADK returns to the Foundation, and it will not be sold unless funds are required for additional budget.
In the first place, we will not sell ADK without any reasons, and Mr.Ricardo said he does never and ever.
In other words, the Foundation's holding amount will be
*9.8 million ADK foundation possesses
*Account opening fee (collected by ADK)
[Note]
The actual sports required for ADK-ETF will be deducted from the holding of foundation.
· Account opening fee is the same price for both Kenya (local people) and online (foreigner). Just the tax will change.
· Account opening fee will be different for individual account and corporate account. (Since the amount of work required for KYC increases, corporate account price is higher)
3. About stadium construction & football business
[Ricardo]
We are going to build new stadiums that also will be used for promotion of our bank and ADK.
[Questioner]
Medias are more attracted to WasitoFC than ADK? Hahaha.
This is what we want, as ADK will come as well.. We are going to upgrade our current field, and ADK will be one of the main sponsors. As said, just sit big things are happening as always.
[Ricardo]
This is again what our football project in kenya will help along with the banking.
No bullshit banners, no bullhit paid articles that do not bring anything to the table. Just pure value is what we are going to offer
[Yusui]
Not only Football team, but also the stadium.
By the way, I saw the SPINDLE(is likely to scam coin) banner today.
4. About Banking business
☆Barry Silbert Buys an Actual Bank
https://www.trustnodes.com/2018/02/27/barry-silbert-buys-actual-bank
*Roughly speaking:
A cryptocurrency business company has bought out an actual state chartered traditional bank.
☆Uncharted Bitcoin OTC Markets Gear Up For Institutional Inflows
https://www.forbes.com/sites/astanley/2018/10/23/uncharted-bitcoin-otc-markets-gear-up-for-institutional-inflows/#79609667bacd
*Roughly speaking:
Even if people do OTC or use exchange, cryptocurrency friendly bank is very important.
[Ricardo]
Thank you Mr Black . This is why I made ADK and took over banks. I think slowly it will be clear how big adk and our banking will be.
5. About technology
[Yusui]
I can’t understand the talks about technology, even if those are written in Japanese. Leave the details to those who are familiar with it ....
*Roughly speaking:
(1) We write things at that time in white paper.
(2) Therefore, when shifting to STEP 2, update contents at the time.
(3) It is undecided what happens to the signature method, but let's look forward to update it in the white paper.
[Questioner]
Thank you again Rico. Super responsive as ever. Shitcoins would have banned me from the chat inside of 30 seconds but not ADK. Kudos and thank you again.
As he says ADK is not shitcoin, and questions about technology are welcomed on ADK telegram!
That's it! Well, I'm happy if you read next week again!