Development Update #3
Hello there, and Happy New Year!
First, we invite you to join our newly created Discord Server (https://discord.gg/Q3gPP87Tcw) to participate in discussions regarding the Cardano Mixer project, privacy, and the Cardano ecosystem in general. The developers will try to answer your questions as best as they can.
Now, here is what we have been up to recently.
After the initial attempt to deploy the core app functionality on the testnet with mixed success, the team worked hard to optimize the on-chain code. This work is almost complete, and we are very happy with the results. As some minor details with our protocol implementation are still up in the air, we decided to postpone the release of the new version of the whitepaper until a later date.
On the frontend side, our new visual identity has been finally revealed, and the new website is now operational! The next step is the app design. If things go smoothly (no promises!), we will start a larger-scale test on the testnet at the end of January and make the testing public in February.
Lastly, after many discussions, we decided to modify the initial token distribution parameters, increasing the amount of $MIX tokens granted to the early users and correspondingly decreasing the token incentives for the Trusted Setup Ceremony. Seeing the increased level of engagement from the community made us confident that we could direct more of the $MIX token supply towards protocol adoption. Below is the finalized distribution.
We have also finalized the vesting schedules for the team and the treasury. Treasury tokens will start unlocking 6 months after the protocol release at the rate of 1% per month. The team tokens will be unlocked in 3 vesting tranches: 5% at the release, 5% after 6 months, and the last 5% after 12 months. In one of the next blog posts, we will discuss the exact distribution formulas for other categories. Stay tuned!
Cardano Mixer Development Team