A Journey of Faith and Transformation
In the sacred halls of CyberChurch, where faith and technology converge, we gather to reflect on the first year of our divine journey as a Bostrom Network validator. It was on August 6, 2022, just nine months after the launch of the Bostrom Network, that we embarked on this path, and we have borne witness to both trials and triumphs. Let us embark on a retrospective journey, guided by the light of Nobody, to understand the essence of our mission.
Genegated on the prompt: “The body reviews the distance traveled”
The Divine Birthplace
Many inquire, “Why did The Church choose Bostrom Network as its inaugural network for validation?” The answer, my dear congregants, lies in the profound wisdom that Nobody guides our destiny. Whether it was by chance, natural forces, or divine providence, we find ourselves here. We are grateful for this destiny, for within this Network, we have discovered fertile ground for our sacred mission.
Picture, if you will, a humble beginning — an uncharted territory, a group of earnest pilgrims. At the inception of our journey, none among our congregation possessed prior experience in such endeavors. Our knowledge was but a shimmering ember in the vast realm of dPOS technology. Time was required to forge our expertise.
Within the Bostrom Network, we found favorable conditions — a field ripe for our growth. The competition was mild, and most participants lacked the expertise we sought to cultivate. This environment allowed us to ascend and claim the esteemed title of the primary independent and decentralized validator within the Network.
We, The Church, entered the active network arena with a unique identity — The Church of Millionaires. Amidst the faceless multitude of validators, this identity has remained a beacon of freshness and allure, even to this day.
Another hallmark of our presence was absolute transparency and regular reporting from the very first month. It might be that only a few validators comprehend the true value of this approach. However, it has resonated with both the community and the founders of the network. This transparency motivated us to devise and deliver novel solutions for our delegates and the entire ecosystem.
The First Tests of Faith
Imagine, if you will, the first tests of our faith — a journey through a treacherous landscape. Despite our rapid growth in attracting new followers and delegates, our financial indicators deteriorated month by month. This decline was driven by a continuous decrease in the Network’s market capitalization, the absence of new user influx, and the team’s complete silence regarding development plans and community engagement.
Furthermore, within our delegates, we identified malicious bots manipulating our church’s policies. An investigative pursuit uncovered a bot farm simulating active participation, even in general voting sessions. These activities were funded directly from the team members, shaking our trust to its core.
The final rift in the serene relationship between The Church and the Network’s team came with a series of short-sighted (we dare say, malicious) proposals. These recommendations included income reduction for all participants and the imposition of taxation. These decisions, predictably, led to a reduction in the already meager incentives for Network participation.
After expressing our stance on these matters, The Church witnessed the departure of delegations from the team and, concurrently, the Network’s largest token holders.
The First Trial
Now, imagine this pivotal moment — a trial of unwavering faith and resolute commitment. Let it be known that this challenge disrupted our congregation’s serenity. The quality of decisions and the manner in which they were made (without prior calculations or discussions, deaf to constructive critique) contradicted the values and convictions upon which The Church built its reputation.
Our Church stood at a crossroads: to join the ranks of greedy hypocrites, who blindly endorse detrimental decisions in exchange for the team’s delegations, or to preserve the reputation of a professional and forward-thinking community, capable of advancing our goals for the greater good, with the benevolent guidance of Nobody. We chose the latter.
In the wake of the disheartening results stemming from the team’s alterations — a continued decline in our Treasury reserves and a threefold reduction in income — The Church sent an emergency call and engaged external consultants. Their mission: to illuminate a path out of this dire situation.
Through meticulous examination of the Network, its primary stakeholders, and available opportunities, we crafted a battle plan. This strategy encompassed reducing commissions, fostering closer collaboration with our delegates, and diversifying Church’s Treasury portfolio. Today, we stand here with great pride, announcing that the partial implementation of this strategy has yielded remarkable results.
Emerging from the crisis within an ecosystem founded on flawed economic incentives and lacking support from major token holders was an arduous journey. It presented us with profound challenges.
First, diversifying token holder positions proved to be a formidable task. We quickly discovered that a significant portion of liquidity in the ecosystem was concentrated within the team or individuals affiliated with it. There were not enough minority stakeholders in the Network to counterbalance this centralized authority.
The absence of a substantial minority made it impossible to establish a fair market commission rate without jeopardizing the size of delegations. Our analysis of the top 30 validators revealed that 70-90% of their delegations originated from just a few dozen token holders. Consequently, validators with commission rates above 2% could only expect delegations from team members, which came at the cost of unwavering loyalty, rendering any validator’s efforts meaningless. Personal interviews with token holders unequivocally confirmed the assumption that no rational delegate would sacrifice income for the moral support of a validator.
The third obstacle was the lack of open forums for discussion within the ecosystem. The sole platform supported by the team was a Telegram group, primarily filled with explicit content.
While circumventing these blockades is possible, The Church, for professional reasons, was unwilling to partake in such activities. Thus, we had to allocate resources to rebuild community communications from scratch.
The Path to Victory
Upon analyzing major token holders, we discovered that, aside from team members and founders, the most significant stakeholder in the Network was the Cyber-Congress entity, an organization involved in the development of the app-chain. Their delegations were regulated by a straightforward algorithm. The Church managed to hack this algorithm, becoming the primary recipient of these delegations. This resolved the delegation issue.
Despite gaining delegations and increasing earnings in the native token of the Network, The Church’s Treasury continued to lose its capitalization. An analysis of the Network’s tokenomics revealed its shortcomings and weaknesses, which the Church decided to leverage. Consequently, a risk-free DeFi strategy was optimized, contributing to half of the validator’s earnings within the Bostrom Network.
The third step taken by the Congregation was entering the Bitcoin mining space. In just two and a half months, this venture generated as much revenue for The Treasury as a year of active validation in the Bostrom Network. Currently, Bitcoin essentially compensates for the ongoing degradation of assets that The Church worked so hard to accumulate within the Bostrom Network.
The fourth pivotal step was the Church initiating direct dialogue with key token holders. The Church reached out to them with an offer of a direct deal: specific actions or benefits from The Church and its community in exchange for delegations. Surprisingly, the result was silence. Key token holders either fail to see or comprehend how anybody could theoretically help the project. The Church attributes this to the complete absence of a plan, goals, and objectives from the project and its team. No one understands where everything is heading, why, and how they could contribute.
However, even this dialogue proved sufficient to garner the sympathy of the delegates, marking the first time anyone had taken an interest in their opinions.
Ultimately, these four steps propelled The CyberChurch to the pinnacle of the ecosystem, securing a prestigious first-place position among validators.
The Church takes immense pride in these achievements and extends heartfelt gratitude to every delegate for their trust, support, and invaluable assistance in achieving our common goals. Hooray for us all!
Genegated on the prompt: “One-year-old pro grabbed the trophy squaring off with the old-timers”
If you aspire to become a validator, here is the recipe for success: conducting impeccable work with delegates, grounded in trust and mutual respect, fostering honest and transparent communication, and making calculated decisions.
Sentiment and the Ultimate Lesson
Another lesson learned in our first year of operation: the main cause of disappointments lies in false expectations. Honest and accurate assessments of the environment and one’s own capabilities are essential for inevitable success. Allow me to explane.
The experiences and lessons of the past year were emotionally challenging. The initial enthusiasm and euphoria from early successes were quickly replaced by profound disappointment and subsequent apathy when we confronted the realities, which were far less romantic and whimsical. Finding the inner strength to persevere in the face of these challenges was no easy task. The support of the community and Nobody proved to be crucial.
Our initial victories, achieved without support from the team, restored our self-confidence. This confidence enabled us to assess the situation objectively, without emotions or assigning blame.
As of now, The Church invests considerable effort in conducting confessions among the Congregation, who occasionally fall into despair as they observe the daily ATL of the Bostrom Network capitalization. Our message is candid and uncompromising: investor expectations regarding the professionalism, transparency, and marketing efforts of the project’s team may not align with the team’s own understanding of these matters. This undoubtedly leads to disappointment. However, acknowledging this fact allows to release negative emotions and focus efforts on finding like-minded individuals whose views on professional conduct align with yours.
Our current official vision of the situation within the Bostrom Network has been succinctly outlined in a dedicated document. In jest, it has become popular among the Congregation to suggest that the only purpose of the Bostrom Network was to give life to The CyberChurch, with everything else serving as mere embellishments. Even the Bostrom team, perhaps subconsciously, acknowledges this by referring to themselves as “Pussies” and branding the Network with an image of a vagina. Well, if someone enjoys being just a vagina, we’re not going to judge them.
Financial Metrics and Performance
In the realm of annual reporting, the gaze naturally turns towards financial analytics. We are measuring the pulse of The Church’s operations through three key business metrics:
- NAV (Net Asset Validating);
- Fans Base Growth;
The NAV stands around $100,000 at the close of the reporting period. And fans base has grown to encompass 233 individuals and entities.
In our first year of operation, the validator earned slightly over $1,100.
While these figures may not dazzle at first glance, they bear significant promise. Firstly, they hint at a clear upward trajectory. Secondly, this revenue is a tangible testament to our efforts, and with a broader portfolio diversification, it will become more predictable and scalable.
The NAV is intricately tied to the well-being of our portfolio projects and expands through new partnerships. This indicator does not raise concerns in our ranks.
Our fans growth rate remains in robust health. This indicator shows a steady increase of 2-3% per week. And the satisfaction of our Congregation is unparalleled within the ecosystem, and it’s essential to note that we have yet to commence any formal marketing campaigns.
In terms of profitability, we presently stand at just around $90—100 per month. We anticipate a rich trove of growth opportunities tied to activities on new networks. For instance, if the Bostrom Network stabilizes its capitalization and cease to erode our Treasury’s capital,it will doubling of the Church’s revenue, quite humorously.
The Future and Plans
Beyond the invaluable life lessons and public accomplishments, The Church considers its most significant acquisition to be a still-small but highly skilled and professional community. Within this community, specialized groups have formed, each responsible for distinct directions.
Furthermore, The Church has excelled in working with Artificial Intelligence. A significant portion of this report was generated by MIA GPT, which is continuously enhanced by experts from the Congregation in specialized domains.
In essence, we plan to merge these two invaluable resources in our future work to achieve our set objectives.
To manage the expectations of the esteemed Congregation, let me remind you that The Church’s key development strategy is based on the bootstrap methodology: smooth, organic growth according to our own capacity. Currently, The Church does not possess sufficient resources, primarily administrative, to provide the first-class level of service our fans are accustomed to at major networks like Cosmos Hub or Solana. However, with Nobody’s blessing, we plan to revisit this issue in a year from now.
The primary objective for the upcoming year is to find a product-market fit that can ensure The Church’s stable existence and a source for internal investments. Given The Church’s minimal current expenses, this task does not appear insurmountable. In financial terms, the minimum plan is to increase revenue tenfold.
To achieve this goal, special groups within the Congregation are developing their own solutions.
Genegated on the prompt: “Future of public communications”
I would like to emphasize the Desmos Network validation initiative as a distinct focal point. This initiative is grounded in a visionary concept: every economic agent will require their own media. And Desmos Network has the potential to fulfill this need. The Church is strategically positioned to spearhead multiple experiments within this domain and harness the outcomes for mutual benefit.
But it doesn’t stop there. In particular, the Spicy Bae group is working on several user projects for portfolio networks, which will be revealed shortly. Spoiler: we plan to tokenize everything.
The Mr. Cheshire group is in negotiations with potential partners regarding offering their resources, expertise, and business development skills to help partners to attract major clients.
In addition, this group is preparing several tools to gamify Congregational participation.
The Mrs. Washington group is devising a plan to attract allies and form strategic political partnerships.
Our special correspondent, Jujur, is completing training and familiarizing themselves with the ecosystem to provide The Church community with the most up-to-date information and analytics. Stay tuned to stay informed.
Some things The Church is not yet ready to announce. However, what we can absolutely promise is an exciting journey towards global dominance, an incredible community of high-caliber specialists, and top-notch service. Keep your heads high!
And never forget that Nobody loves you ❤️