Hello Endorians ,

Thanks to everyone who submitted questions to the AMA. Many of the questions were submitted prior to the detailed circulation supply breakdown we released on Friday, June 8.

The detailed breakdown answered the majority of the questions which were submitted, but we have answered them again in the questions below. Please be aware that certain questions were asked multiple times in different formats and therefore we have edited duplicated questions.

The support of the Endor community is our top priority and we believe that through transparency and accountability we will continue to move forward to reach new peaks TOGETHER.

For Reference, our two recent Medium posts:

1. Endor (EDR) Circulating Supply and Token Burn

2. Endor (EDR) Circulating Supply Breakdown

CIRCULATING SUPPLY:

Why was the circulating supply increased by 200m?

What’s the teams official response on the huge token increase? I haven’t kept up… hacked wallet? Early private investors didn’t have their tokens locked like promised? Foundation tokens been released?

The circulation supply is comprised of the tokens sold as part of the private sale plus additional tokens allocated to activities with the objective of accelerating growth and the creation of a sustainable ecosystem around it (as originally planned and published in our white paper and previous discussions).

Please refer to our Medium post above for full breakdown

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We very simply need to know if the team plans to do anything to make it right to investors?

The circulation supply completely complies with our commitments that were transparently and diligently published prior and during the private sale. Furthermore, we have even been able to accelerate our roadmap, while still reducing the tokens allocation with respect to the quantities we have published are going to be allocated.

Our goal is to create a stable token economy, that will continuously increase the demand for accurate automatic predictions, using EDR tokens. Having this goal in mind we believe allocating tokens for entrepreneurs to base their applications on our predictions, and to researchers who could experience with our technology in order to integrate their engines with the Endor protocol to be a desirable strategy (as was discussed in length in various occasions in the previous months).

Please refer to our Medium post above for full breakdown

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How can you collect so much money in ICO, create even more money out of thin air by dramatically increasing circulating supply, and still fail to give us the gold standard of exchanges?

Proceeds collected during private sale are and will be used towards building the team, implementing the technology, purchasing complementary technologies, and so on. Token allocations will be used to provide free access to the technology for entrepreneurs and researchers, for efficient market making, for team expansions and support, and so on.

As previously discussed, we believe liquidity to be a key factor of a prospering Endor ecosystem, being an efficient source for purchasing tokens that will be used for predictions consumption. Therefore, we are in advanced negotiating with a few of the leading exchanges in order to provide such access. We expect to provide liquidity in within the next few weeks. We are working hard to build one of the best projects around — we need your support and patience.

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You mentioned 20% private sale and 20% strategic partners. That is the only thing that could explain the supply now. Can you tell the community if the newly added circulating supply will EVER be on exchanges? Or if this will be purely OTC/deals for partners to not have to buy through exchanges

The “added circulation” is intended to be used on the platform to grow the ecosystem, by providing access to it by researchers and entrepreneurs (although as a crypto-token we cannot technically prevent it from being released to exchanges).

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Can we have a breakdown of the additional coins added to circulating supply just like the white paper? One we can see public, partnerships, development, team/advisors

Please refer to our Medium post above for full breakdown of the circulation supply.

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Why did you sit on the knowledge of such a high circulating supply for so long instead of being transparent knowing full well people were making investment decisions?

The circulation supply completely complies with our commitments as transparently and diligently published prior and during the private sale. In addition, we have even accelerated our roadmap, while further limiting the token allocation with respect to the quantities we have previously published.

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Why were the tokens not locked until you have a deal with an exchange?

For legal and regulatory requirements, we have released the tokens only after releasing the first alpha version of our tokens-based product. Our purpose is to create an ecosystem that is based on predictions on the blockchain using encrypted data. Liquidity is an important element of it,but does not imply tokens be locked. We are working hard to provide stable liquidity in order to achieve this goal.

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535m circulating right now is 35% of total supply. We were lead to believe only 20%/294m will be in circulation or what ever is sold. No ICO release tokens out of thin air first day. That’s just common sense to protect investors who helped kickstart project.

Please review our detailed Medium post from March 4 (as well as to the post) above which explicitly outlines the allocation of 15% of the tokens for research purposes, and 25% of the tokens for the creation of an ecosystem through the support of business entrepreneurs and catalysts. The 535M tokens include 1/3 of these which are enough to support these goals for the coming 2 years.

As previously discussed in great length, we believe this is the optimal long-term strategy for the accelerated creation of a sustainable token economy around the Endor protocol for predictions on the blockchain.

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Why that is so high for those once said long term groups (all but public)?

The allocation for the researchers and catalysts is one third of the amount reserved for these groups, and covers their needs for the coming 2 years.

Additional tokens were reserved to provide discounted access to large enterprise customers — helping to promote adoption of the Endor protocol among this segment.

The allocation for the team is, as you can see from the breakdown, in compliance with our commitment for 24–36 vesting schedule.

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What happened to the ~they won’t be circulating~statement made by the CEO to some of this coins?

You are referring to the 98M tokens, purchase for Fiat and for high discount. These are indeed, as you can see in the circulation supply breakdown, not going to be released in the coming 18 months, and will be subject to an overall vesting period of 36 months.

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When will cmc add circ supply?

We are in communication with CMC in this regard. We will update once we have an ETA.

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Exchanges:

Will management take any steps like marketing more and hitting more exchanges (quickly)?

Liquidity is an important aspect of the Endor protocol token economy, allowing as many participants as possible to obtain access to predictions. We are therefore in advanced negotiating with leading exchanges, as well as market makers, to provide efficient liquidity for our community, catalysts, and future participants.

Please note that liquidity discussions are also being carried out with the most conservative regulatory and legal considerations in mind — which is the main reason for the length of the process. We expect to provide liquidity in within the next couple of weeks.

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SEC:

Regarding the unlocked additional tokens released/distributed in addition to the pre-sale tokens, for marketing and advisors, why was this pending action not disclosed to ICO investors prior or even after the sale?

At the same time, there has barely been any marketing of Endor that the public can see — can you provide any details of how this additional usd 30–40m is spent on marketing (and how much was given to the advisors)?

Did your legal team check and confirm that it is perfectly fine to not provide info/disclose on items 1 and 2 above to ICO investors in terms of SEC review?

The circulation supply completely complies with our commitments as were transparently and diligently disclosed prior and during our private sale (Please review Medium posts above).

Our goal is to create a stable token economy, that will continuously increase the demand for accurate automatic predictions, using EDR tokens. Having this goal in mind we believe allocating tokens for entrepreneurs to base their applications on our predictions, and to researchers who can work with our technology in order to integrate their engines with the Endor protocol to be a desirable strategy (as was discussed in length in various occasions in the previous months).

Please refer to the Medium post above for a full breakdown of the circulations supply.

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HACKED/COMPROMISED WALLET:

Why did you call the situation with the stolen wallet address (which we had to tell you about!) Non-material? Is 3% of your circulating supply being dumped on investors not important to you?

The interests of our community are always at the top of our priority.

We have thoroughly analyzed the activities on the hacked wallet.

At this time, it seems that the attacker did not obtain EDR tokens, that we believe (based on analyzing the transaction of the wallet, as well as on the declaration of the wallet’s legitimate owner) to leave the latter before it was compromised.

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TRUST/TRANSPARENCY:

Please disclose a copy of investor agreement for transparency?

We treat our legal material, as well as the business terms of our partners and contributors with extreme care and confidentiality. Everyone who purchased tokens should have a copy of their agreements.

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You just raised $45million the past 3 months. Why do you need to release 300 million EDR ($80million ICO value) immediately upon release? Why was this not communicated? All scheduling said there would be vesting and lock schedules.

Were those who purchased tokens in the pre-sale with big bonuses privy to the fact that there would be such a massive dilution immediately after tokens listed? They must have had some idea and got to operate under information the rest of us didn’t have, hence the bonuses which acted as an insurance policy for them after immediate surprise dilution. Why else would big money invest with you? Big money would not be happy about you diluting their investment by nearly 50% immediately after listing. Does that seem fair or ethical to you?

The circulation supply is comprised of tokens sold as part of the private sale + additional tokens allocated for a variety of other purposes aimed for accelerating the growth of the project, and the creation of a sustainable ecosystem around it. Therefore, note that this “increase in supply” is ultimately what will drive the business forward, as it is intended to be used for accelerating the creation of new businesses and developments on the platform by granting “free usage” of the Endor protocol — it is mostly intended to be used to foster growth and spark usage on the platform. This was completely disclosed multiple times before and during the private sale.

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What is the Endor team planning on doing to regain the trust of the community? The community meaning everyone apart from the corporate partners?

We view our community as our most important asset.

We further believe that trust is based on repeated demonstration of fulfilment of commitments, achieving previously stated goals, and sticking to one’s long term strategy, alongside a transparent disclosure of it.

We have been discussing our long-term strategy for becoming the world standard for predictions and artificial intelligence on the blockchain since the first introduction of the Endor protocol, and welcome the community to take part in this discussion

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Can we do this a weakly thing? that admins are taking questions and the team answers them? Because admin are doing their job very nice bit they cant answer direct questions because it’s not there derestriction…but if CEO or someone from the team will do AMA like this every weak it will mean a lot for community and investors…I understand that CEO can’t be here all days but if he take his time one a weak to answers questions it will be a lot for us…

In last AMA Yaniv confirmed that team will be more engaged with community going forward, however we don’t get that feeling . Now that token is out, are you planning to appoint a person who manages all social media outlet regarding this project. We feel less communicated from Endor team. What is your plan to fix that?

First, I would like to express my extremely high esteem to the Amazix team, who does amazing job bridging the community and the project’s team.

Second — yes, we are going to be more present, and are also hiring additional team members who will be more actively involved in the TG group and channel.

Having said that, please keep in mind that we have many other tasks we are taking care of — some of which are exactly the tasks the community keeps mentioning as being top priority.

Having Amazix collect questions and pass them to the team to answer on a periodical basis is a great idea, that we would love to adopt.

We appreciate your support and ask for some patience while we are prioritizing the different tasks and making sure all of them are being handled professionally.

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Could we have remake of smart-contract with vesting periods coded in? It will be solution to our trust issue with you, Endor. It wouldn’t be that hard right now, just airdrop exact amount and ask IDEX for forceful withdrawal.

Show me a wallet link where team and advisor tokens are locked?

We are implementing lock-up and vesting via legal agreements. Tokens are stored frozen in company’s safes, and are allocated to team members upon their vesting schedules.

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Was there insider trading that occurred? Did team members give friends and associates heads up to sell their coins knowing the circulating supply announcement would proportionally tank the price? What were the safeguards in place to prevent this from happening? How can you be sure this is not what went on? Even Coinbase had an insider trading scandal with Bitcoin Cash? Why should we believe the same did not happen here?

With the current price of the token half of the original cost, what steps are being taken to ensure it at LEAST returns to the original price? (Besides working on exchanges?) In terms of advertising, not only to the crypto community but also to the general public?

Did you expect the dump situation ? what do you think you did wrong ? What do you plan to do something to protect your investors? I lost $6000 dollars and this money is so important for me. Do you think we can gain our money back in a months ?

What actions do the team want to take to increase the value of the EDR token? And timeline on these actions?

We did not list the token in any official exchange.

Subsequently, we cannot address any questions that refer to prices of the tokens, being traded unofficially , without our endorsement or support.

Specifically, to your question — not one single EDR token that belongs to Endor’s team or advisors was sold in the aforementioned time period.

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Also, 40% of the tokens are reserved for future projects. Does that mean that the team will sell those 40% tokens to partners of future projects. If that’s the case, and if the venture is successful, team would eventually own 60% of the token supply? Do I understand this correctly or am I wrong somewhere?

The tokens that are allocated to the team + advisors are capped at 20% of the total supply. Furthermore, they are vested on a 24–36 months vesting schedule.

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BTW 30 million tokens were not burned yet. max supply is still 1.5b. You burn tokens by sending to 0x0000000….. and not sending them to some random address you own. Tell us when 30m are going to be actually burned.

Token burn was completed and communicated in our previous medium post (Please see Medium post above).

The best practice to burn the tokens is to send it to the smart contract itself and therefore lock it there for good.

This is the smart contract of EDR: 0xc528c28fec0a90c083328bc45f587ee215760a0f

This is the burned tokens that were sent for burn:

https://etherscan.io/address/0xc528c28fec0a90c083328bc45f587ee215760a0f#tokentxns

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Why did u announce 45m Hardcap while it’s actually way more than that?

The hard-cap was (and is) $45M. We stopped when we reached this number.

Additional tokens were allocated (as planned and disclosed) for partnerships, building the ecosystem, and professional services.

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Can you also comment on 43% average bonus on the non 233% bonus pool? The 43% is still not explained.

There is a batch of high-discount tokens, 98M EDRs, that is frozen for 18 months and vested over 36 months. The bonus for these tokens should not be compared to the other unlocked tokens, naturally.

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I hope the team have a solution to deal with those zero cost holders, those holders are dumping their zero cost tokens , I almost cannot believe the team make this mistake , it is better to lock up those zero cost tokens.

Can you let team lock up those unlocked tokens right now ?

70% discount tokens are locked for 18 months, and then vested for 36 months.

Team tokens are vested for 24–36 months, and only a very small portion of it was allocated (and — was not sold).

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OPTIONS/OPERATIONS GOING FORWARD:

Why distribute tokens individually over 3 days without locking them, giving the 1st receivers significant advantage?

The reason for the length was extreme ERC20 network interferences. We wanted to make sure no bugs would take place, and the team worked diligently during this in order to guarantee secure and accurate token allocation.

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They should do an airdrop to every token holder. So whoever held tokens at the time of releasing the info on doubling circulation should be given whatever was in their balance. That’s the fair way to do it.

The best and cleanest option as far as I am concerned is to relock some of the tokens so that the market cap is a truer reflection of the token sale. In any case why will the team want such large reserves of tokens at this early stage? Doing this will help rebuild lost confidence.

Can I have a refund? I would like to get back my investment in ETH

Would Endor team consider collecting the extra unlocked tokens back and make them vested as it supposes to be? This will help solving all concerns. Circulated supply will be down back to 294M or around that for some good period

The circulating supply that we published recently is in complete compliance with the future plans for tokens allocation as discussed and transparently disclosed by us both before and during the private sale.

Ultimately, it is intended to promote the creation of the Endor ecosystem and accelerate the adoption of the Endor protocol by as many participants as possible. This is true both for developers of future prediction engines to be compliant with the protocol, as well as business entrepreneurs to demonstrate the creation of prediction-oriented value using Endor predictions.

The fostering of this ecosystem can best be done using a dedicated allocation of tokens for prominent partners, that will provide them access for predictions, free of charge. This allocation was discussed in exact details among others in our post of March 4th, 2018.

We believe, and have been for the entire journey of the project, that this strategy is the optimal way for creating a sustainable ecosystem, and a flourishing token economy. We invite our community to assist us by nominating potential catalysts, and taking part in our R&D endeavors.

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If the SAFT agreement somehow conflicts with the reality, will you refund private investors?

We make sure to strictly adhere to all legal agreement with are part of.

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Will the Endor team be hiring a salesforce on the ground around the world to sell Endor tokens to mom and pop shops, auto dealership, etc. as well?

We are hiring a world-grade sales team as we speak dedicated to selling Endor predictions to SMBs as well as enterprises. Please stay tuned.

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I have many friends in the fund company in China. If you are willing to take a road show in China, I can help you.

Please contact our team directly on Telegram .

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Any plans to publish wikis on github?

Yes

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Does ENDOR have any plans to (decrease token velocity by) implementing incentives for token holders… maybe like a Jedimaster-node where if a certain number of tokens is held for a certain length of time, holder could get a free use of the Endor protocol?

Thank you for the idea — we will examine it.

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Do you foresee scaling issues later on if you stay on Ethereum? Do you have any contingency plan for migrating to a different DLT or building your own if the situation warrants it?

Our initial research implies that we can support all of our expected growth in the coming 24 months (at least) on Ethereum before we encounter any meaningful Blockchain scaling issues (off-chain scaling is being handled separately, mainly using highly hyper-elastic Spark clusters running Scala, and a large number of low-spec servers running our highly-optimized dedicated code, compiled and deployed using Docker).

Having said that, we have already started planning for the next generation of the Endor protocol — looking at ways for mitigating such expected scaling issues. One of the venues these efforts are being carried out is the new Alliance for Crypto and Blockchain Systems at MIT, recently created by founding partners Endor, ORBS (developing highly scalable consumer oriented blockchain) and Bancor (analyzing scalable liquidity).

We enthusiastically invite our community members to take parts in such discussion, both internally at the TG group, by directly communicating with Endor’s research team, and by attending the technological events we are organizing or participating in.

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For companies like Coca Cola to continue to using the predicting platform Endor is providing, do they need to use Endor tokens? More specifically, does Coca Cola own any Endor tokens?

At the immediate first phase — enterprise customers will continue paying in USD, and our professional service team will convert these USD to EDRs to use them in order to produce predictions required by the enterprises.

In later phases, we expect internal data-science teams within enterprises to directly connect to the Endor protocol, running predictions using EDRs that they would purchase directly at liquidity providers. Keep in mind that this use-case could be done in parallel to the enterprises’ use of predictions that are based on their own data, since the Endor protocol enables the creation of predictions that combines the enterprise’s own data together with public data that is uploaded to the Endor protocol, while maintaining complete privacy for the enterprise.

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GENERAL QUESTIONS

Apart from seed funding what added value does VC Innovation Endeavors provide? Why did you choose them?

Innovation Endeavors led Endor’s $5M Seed round at the end of 2014. During the past years the IE team (both partners and associates) had provided assistance in a wide variety of topics, ranging from the best business leads imaginable (imagine intimate dinners with CEOs of the world’s largest enterprises), through invaluable advices regarding go-to-market, business growth, and marketing strategy, and to personal mentoring. The Endor team is proud to work with IE, being one of the world’s highest quality VC. In addition, being the “Google for Predictive Analytics”, it of course makes perfect sense working with IE, given the identity of its LP… ;-)

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What was meant by this comment? “A premium project, that has vendors who believe in it — get “special treatment”?

Usually vendors (such as high quality accountant and lawyers) request payment in Fiat. However, many of our vendors highly believe in the long term potential of the project, and therefore get paid by a composition of ETH and EDR.

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You already had a working product in the demos, the coca cola, why would you need a “blockchain” for it? Would you not just need some AWS cloud computing only?

Mainly for the following reasons:

Providing the possibility to purchase predictions in any quantity (using tokens) and not just as a “bulk” (of $500K \ year). This opens the way to small and medium businesses, as well as data-scientists from large enterprises who want to start “low capacity”.

Allowing for data providers to onboard new types of data, having the Endor protocol selects automatically which pieces of data should be used for which predictions. This would enhance the accuracy of predictions and will compensate data providers using tokens.

Social physics technology analyzes the data once (every day), and the extracted behavioral clusters are being used for all the different questions. This significantly lowers the cost of predictions.

These 3 reasons will enable the Endor protocol to become the standard for predictive analytics on the blockchain.

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With such large corporations involved in taking part in this program/system. Do you anticipate small businesses really to be able to afford the service? In your “predictive model” what have you estimated using this service will cost small to medium size business on a yearly bases?

Of course! This is the entire essence of the Endor Protocol (see more details in our white paper) :

Positive network effect — the more SMBs use it, the cheaper each prediction gets.

Large enterprises cover the AWS costs of small businesses.

Token allocation for catalysts — assisting small businesses to adopt Endor until they generate revenues.

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I knew they can’t talk names but can the team say something about those company’s that will pay for yearly use of platform? I knew they will pay with fiat? will the team convert that in tokens? Tokens from the market or tokens from them or how will it goes? and when company pays for yearly use of platform(BIG company) are we talking thousands, millions or ten of millions dollars? Tnx

At the immediate first phase — enterprise customers will continue paying in USD, and our professional service team will convert these USD to EDRs and use them in order to product predictions required by the enterprises.

In later phases, we expect internal data-science teams within enterprises to directly connect to the Endor protocol, running predictions using EDRs that they would purchase directly at liquidity providers. Keep in mind that this use-case could be done in parallel to the enterprises’ use of predictions that are based on their own data, since the Endor protocol enables the creation of predictions that combines the enterprise’s own data together with public data that is uploaded to the Endor protocol, while maintaining complete privacy for the enterprise.

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How many tokens have you predicted that your corporate partners will need to use from there bag to pay for their license to use your service on a yearly bases?

Please see the answer the Medium post above.

We are allocating 37.4M EDRs, which constituted $10M worth of predictions.

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What is the development team working with at the moment? Is there any plan to increase the team size in the near future?

We are actively expanding the R&D team, as well as building a strong global sales team, aiming to add 4–6 additional skilled researchers and engineers, and 6–8 marketing, sales and operation people in the coming 6 months, bringing the overall team towards 30 in by the end of the year. We will make sure to share the (impressive) background of all new hires with the community!

The R&D team is currently working hard to complete the roadmap (and accelerate it), so we can release the product for use as early as possible.

In addition, the team is onboarding new data types, as well as working on architectural solutions that will make the system cheaper to run and support a larger number of predictions per minute.