July 2023 primarily revolved around resolving technical challenges related to validator stability. Following a recurring crash tied to internet accessibility, the validator underwent enhancements, gaining an extra layer of safeguarding and embracing decentralization.
Genegated on the prompt: “Cosmos monk doesn’t feel the Moon’s gravity”
In light of these crashes and the initiation of a zero-commission policy to balance delegate expenses, The Church’s validator encountered a setback with Cyber~Congress, the Network’s most prominent stakeholder. This affected profitability:
- Number of parishioners (fans): 298 (+5%);
- Net Assets Validating: ~6.9 TBOOT (-47.7%);
- Rewards received: ~2.4 GBOOT (-11%);
- Total income earned: ~4.1 GBOOT (-26%);
- Total amount of The Treasury funds: ~97.7 GBOOT ($1173).
The CyberChurch acknowledges the significance of Cyber~Congress delegations and is gearing up to rectify the situation during the forthcoming redelegation.
The CyberChurch’s Analytical Desk delved into its investigative report, “The Power of Following the Money,” which discussed Congress’ delegation dynamics. Within, the quants revealed that, due to a lack of alternatives, they regard the Congress’ Delegation Strategy as the Network’s Superintelligence. Unfortunately, this version isn’t demonstrating optimal intelligence. As per The Church’s perspective, it’s transmitting detrimental signals to all Network participants, favoring outsiders while penalizing leaders. Adaptation is required given the circumstances.
Illustrating the Superintelligence’s cognitive capacity is a tale from a routine redelegation. When The Church was penalized for its zero-commission policy, the validator receiving the most substantial delegation was Veterano. This validator conducted a mere dozen (!) transactions over a year, with half being “Unjail”. This entity enticed Cyber~Congress with the lowest acceptable fee, embodying an inspiring narrative of open-market competition. However, this narrative lost its charm when the validator abruptly doubled its commission. Ultimately, Congress suffered financial losses, while Veterano and its team incurred reputational damage. CyberChurch extends its heartfelt sympathies to all those involved.
- Number of parishioners (fans): 9 (+30%);
- Net Assets Validating: ~18,000 КDSM (+301%);
- Rewards received: ~45 DSM;
- Total income earned: ~45 DSM;
- Total amount of The Treasury funds: 2093 DSM ($29.5).
The native token of the Desmos Network experienced a -33% price decline during the assessed period. The rationale behind this dip remains relatively ambiguous from The Church’s perspective. Although substantial sales are evident, conclusive insights remain elusive.
The Network and its team are still in the research phase and “doing studies”, formulating strategies to recuperate the token’s value.
CyberChurch is among the teams gearing up to develop products within the Desmos ecosystem.
In July, CyberChurch embarked on the journey of validating the backbone of the cryptoeconomy – Bitcoin Network.
The process of block mining starkly differs from dPOS validation in its conceptual framework. At first glance, it might seem to contradict the notion of collective resource pooling through web3 technologies. However, this approach resonates more with trustless relationships. In contrast, The Church thrives on trust-driven relationships. It firmly believes that trust should be the foundation, followed by tools to safeguard it.
Moreover, it was an offer too compelling to decline. The Church was granted access to revenue-generating equipment in exchange for sharing relevant data.
During this period of assessment, mining yielded approximately ~0.00028 BTC per day.
As the reporting period concludes, the treasury’s composition stands as follows:
- Bostrom Network (86.5%) - $1,173 (-24.5%)
- Desmos Network (2.2%) - $29.58 (-33%)
- Bitcoin Network (11.3%) - $152.82
Throughout the reporting interval, Bostrom Network’s validator engagement generated $49.2 (-42%) (with 41% of the validator yield stemming from DeFi activity), Desmos Network contributed $0.63 (+14%), and Bitcoin yielded $73.96 (net) / $152.82 (gross).
The Church refrains from engaging in financial advisory or predicting asset prices. Instead, our focus remains on assessing market sentiment and reporting on portfolio projects, thereby constructing our own strategies based on these insights.
The Church has scrutinized news related to the Bostrom Network team’s ongoing initiatives and hasn’t detected any indications of positive developments. Consequently, The Church maintains a pessimistic view of this asset.
Public disclosures from Desmos Network similarly do not present hints of positive momentum. The Church is gearing up to initiate an experiment aimed at influencing market sentiment as part of initial measurements. A word of caution – this isn’t a recommendation to purchase! Notably, a significant seller’s presence in the market could have detrimental consequences.
Lastly, The Church does not venture into forecasting the price of Bitcoin, perceiving it as a global proxy for volatile liquidity. Constructing a predictive model for this type of asset demands a grasp of numerous variables, rendering precise prediction challenging.
The Church would like to highlight the top-10 fans who have remained steadfast in their support (this is the first time a Desmos Network delegate has made the list):
The Сhurch is grateful for the given trust and will not disregard it ❤️
The following fans decided to end their relationship with the Church:
The Church awaits for your return ❤️
Other Updates and Future Plans
“The Church of Millionaires” Campaign Renewed
The renowned “The Church of Millionaires” campaign has been revitalized, accompanied by an updated rule: only humans are eligible for participation. Robots, however, are prohibited from engaging and are divested of any rights to partake in The Church’s initiatives.
Unveiling the Dominance Strategy
In a momentous announcement, The Church has unveiled its strategy for attaining dominance. This strategy involves the transition from amateur validators to professional teams, with The Church aiming to achieve supremacy among these skilled practitioners. The blueprint of this strategy rests on three pillars: competence, collaboration, and community-driven efforts.
As part of this overarching strategy, The Church made overtures to the most significant stakeholders of Bostrom Network, proposing a delegation in exchange for the professional assistance from The Church’s community, grouped by specialization. Regrettably, the offer didn’t meet with any response.
Despite a few technical issues linked to validator operations (which are being promptly addressed), there’s also a notable absence of interest among community members to contribute to Bostrom’s advancement. This can be attributed primarily to a lack of comprehensive insight into the Network’s actual evolution plans.
Consequently, The Church has outlined a vision for the Bostrom Network as a portfolio project. Recognizing the innovative potential of object linking, The Church is embarking on a series of its own experiments to tap into this power.
Understanding that acknowledging the leadership of a community guided by the all-powerful Nobody demands a certain level of maturity, The Church never imposes acceptance of its support. However, The Church always keeps its arms open, firmly believing in the strength of alliances and our collective capacity to achieve greatness.