Quote from: cyle_collective on April 21, 2019, 02:51:47 PM

Hello Qiwiman2,

I'm gonna split up the answer so I can be more specific

Quote from: qiwoman2 on April 21, 2019, 01:11:19 PM

What will be the actual use case scenarios for this token?

The token will lateron empower you to do two things:
1. It will be the fuel for our instant swap platform. You can get a brief overview on our homepage - check out the voiceover too!
2. It will be your stake once we get the community involved on further developments. We do not see ourselves as white bearded men making decisions in their chamber behind closed doors. We will heavily rely on the input of our community in the future.
3. Once we are on exchanges you can sell them for sure. Most likely to people who need them for point 1.

Quote from: qiwoman2 on April 21, 2019, 01:11:19 PM

So basically it's an ERC20 token that we mine by paying you the gas fee in ETH, is this correct?

The gas fee goes to the Ethereum miners, not to us. We are not generating profit by your mining attempts. This would not meet our transparent plans and would not be fair at all - as not every attempt is likely to be successful.

Quote from: qiwoman2 on April 21, 2019, 01:11:19 PM

I would love to know what are your future plans to make this a big token and how do you see it evolving over the coming say next 12-18 months?

I can feel you. We discussed for many hours if we should launch with a fully qualified white paper or with a position paper (can be found here: https://cyle.cc/assets/pdf/CYLE_Position_Paper.pdf). As we wanted the distribution to start, we chose to go for the smaller position paper.
Currently we are working on those things:
1. Getting exchanges on board
2. Setting up a technical white paper
3. Setting up a technical white paper that non-techies are able to understand
4. Evaluation of different Frameworks that will power our platform. (Own ETH fork, public Quorum chain, open Hyperledger format, Corda, ...) There are many pros and cons to consider in terms of transparency, privacy and performance.
5. Get a PoC out for 3-5 Chains

Those are the top 5 objectives of our Objectives-And-Key-Results (OKR) board (yes, I mixed objectives and key results up here for better understanding, and no there are of course qualified and measurable key results linked to our objectives). But those here should give you a quick overview on what is currently happening.

We set up our board for the timeframe of 3 months. From our experience in software engineering, things change too quickly to be planned for a whole year. The goal is set to bring all currencies together, by providing an instant swapping solution. How this will be implemented and what other functions we provide may change over time (new technologies, new laws, etc..)

Quote from: qiwoman2 on April 21, 2019, 01:11:19 PM

It's an interesting concept, but always am wary to part with my ETH and like to ask questions and do a lot of research first. It did pique my interest but I am going to look further into it before I decide if it's for me or not. I do wish you though good luck with this endeavor, does sound quite interesting.

Loved those honest words. But you seem to be the kind of people we would love to have around: people who care, read white papers, pay interest and not spam channels for when there lamb will arrive. That's a reason, why we didn't do an airdrop, but rather chose such a "new" way of distributing coins.

Hope this helps. Feel free to ask further questions, if the occur on your end

That is some nice overview of your plans. Thank you for this level of transparency!
Which exchanges did you contact already?

Mr. CoinLove

Posts

Merits