Hi Aventus Community! We’ve had our heads down working hard developing our first protocol component that will be launched next week on Halloween, and we are excited today to share a hefty update with you. Today, we will notify you about:

Information about the first protocol module: a more in-depth description of what it will consist of, a clickthrough of the UI, and the open-sourced code along with a bug bounty!

a more in-depth description of what it will consist of, a clickthrough of the UI, and the open-sourced code along with a bug bounty! Media updates: we did a podcast and a presentation at Imperial College London yesterday about our journey through the token sale and where we are today. Slides, photos, and a description are attached below.

we did a podcast and a presentation at Imperial College London yesterday about our journey through the token sale and where we are today. Slides, photos, and a description are attached below. Exchange listings: we are making progress with two exchanges. More information hopefully to come next week.

First Protocol Module Upcoming Release: Voting on Protocol Direction

We are pleased to announce that our first protocol module beta release on the main-net on Halloween, the 31 October 2017 (next Tuesday)! The Aventus team has been working hard to make this happen. The module implements our voting protocol and storage patterns, a lot of which we have adopted from Colony and tweaked for our usage. The code has been open-sourced and a bug bounty has been launched, which you can see here. Also, we have released a clickthrough of our voting UI/UX on InVision here. We encourage everyone to have a look at both and give us feedback so we can make improvements. Thanks to the Colony team for their great innovations in the space that have set a high quality standard for smart contract development!

The module and accompanying DApp allows community members to create proposals which will advise the Aventus team about directional changes to the protocol; for example, “should we tweak the voting protocol from x to y to improve liquidity and security”, or “should the data incentivisation protocol become part of Aventus core”. They can choose up to 4 options that the community can then stake AVT and vote on to determine direction and proposal outcome. At this point in time, these directional proposals will be advisory; this is because currently the Aventus team has asymmetric knowledge about the protocol, its direction, and its state as the code is not open source and we are still in early stages of development. In the future, after all of the code has been open-sourced and the core protocol is in production, such decisions will be binding and the community of AVT holders will together determine the protocol’s future direction in a decentralised manner.

Please note: this voting module will not include rewards for staking AVT as these votes are on general protocol direction and therefore no further incentivisation is needed for voters since all stakeholders lose if the direction chosen damages the value of AVT. Next week we will be releasing an in-depth technical and cryptoeconomic analysis of this module that will further explain this point.

Our release on Tuesday will be a beta version with many security measures; for example, an individual address can only lock and stake up to 1 AVT in votes, and the deposit/withdrawal of AVT for voting can be switched on and off by us in case something goes wrong. Over time, as we collect feedback and watch the community’s interaction with this module, we will loosen these restrictions and start formally collecting data so that we can determine parameters such as minimum quorum size and deposit amounts for future voting modules on events and applications.

Media Updates

Yesterday, we did a podcast with Amin Siala, who hosts Imperial College’s Business Podcast series, about our journey from the start of Aventus straight through to the token sale and beyond. You can see a photo of us below. The interview should air in the next few weeks, and we will let you know as soon as it does!

Annika, Amin, and Alan at the Imperial College Business Podcast studios.

We also did a 40 minute presentation at the Imperial Blockchain Forum in the evening alongside Iain Stewart from the Imperial College Centre for Cryptocurrency Research and Engineering, and Navin Ramachandran from IOTA. We discussed our journey from Imperial College masters students, through to our pivot into ticketing, and finally through to our token sale and our current state of rapid growth and product development! You can check out our slides below. All feedback and questions is always welcome: you can find us on Discord.

Exchange Listings

We wanted to let you know that our discussions with two exchanges have progressed, and we hope to have good news for you in the next couple of weeks! One is in final stages, and we are focused on “dotting the i’s and crossing the t’s” to make sure everything finishes up smoothly.