D’CENT x Kroma AMA archive

D’CENT x Kroma AMA archive

url: https://x.com/DCENTWALLETS/status/1754850503576740002?s=20

 

This archive covers:

1) Kroma’s Development

2) Goal for Kroma Network

3) Reasons for introducing own L2 network

4) ZK narrative on Kroma Network

5) Plan & Strategies for Kroma Network

6) Detail milestones

7) Air drops, Utilites, Tokenomics

8) Investors of Kroma Network

 

Q. Ways to be a Kroma’s Develpment?

 

A. There are 2 ways to be a part of Kroma’s Development. First, building a dApp in Kroma. We’re looking for new dApps to be on boarded on Kroma as much as possible.We are looking for mostly gaming but any DeFis, Dexs, NFT projects, marketplaces and Infras are also welcome. We do have a grant program for builders. Any builders may apply. The size of the grant may differ from project to project with different milestones. Please find more information about possible grants on our website kroma.network . Second way to participate in Kroma’s development is to run a validator node. For Kroma network, we are the first and the only layer2 with permissionless validator system where anyone who is willing to run their nose may do so without asking us. Currently, we have more than 170 volunteers working with us.

 

 

Q. Short term goal & Long term goal for Kroma Network?

 

A. Short term goal for Kroma is to build a strong and healthy community. Strong means to have a bigger than 20 dApps to be onboarded on Kroma. Being healthy, Kroma needs to have user friendly products where users seamlessly use those dApps without much difficulties. Of course, we need to have other infras as well as games to expand the network as well. For the long term goal, we strive to compose pragmatic, adaptive and user friendly L2 solutions and our mission is to create a future for blockchain technology serves as an essential infrastructure for borderless and limitless digital world with global connectivity. In order to do that, we should be customers’ obsessive bring up new and practical ideas and reduce fees. The highest challenges that we are facing are the same as the other blockchain companies are facing. We are still struggling to find more real world use cases for blockchain technology. Yes if there are much investments with fundings and few more resources, there will be innovations but it takes a lot of time. So everybody is challenging themselves to make the blockchain to the next level. There should be more web2 users coming into the WEB3 in order for the blockchain industry to flourish.

 

 

Q. Numerous strong contenders in L2 have already emerged and also actively building out the ecosystem now. I am expecting many popular games of WEMIX to be onboarded on Kroma. Therefore, I am curious about specific reason or background behind why Kroma has introduced own L2 network.

 

A. Yes, there are a lot of Layer2 out there competing against one another. Each one has their own way of survival and it is making progress here and there. For us, the reason why we made an L2 in the first place is to scale up the Ethereum network through cheaper gas fees, higher throughputs and better UXs. And the reasons to build a layer2 with Wemade is to connect WEMIX to the ecosystem to the Ethereum community. Unfortunately, WEMIX ecosystem is quite limited to Korean community. Kroma is a Layer2, innately connected to Ethereum community. So we can work as a bridge between two ecosystems. Users in Ethereum and users in WEMIX may enjoy each other’s ecosystem through us, Kroma.

 

 

Q. I understand that Kroma Network is enhancing ZK narrative for both technical and strategic differentiation. It initially started with optimistic rollups using ZK, with plans to transition to full ZK rollups once your development is done. I’m curious about the reasons behind this approach, the importance of reinforcing the ZK narrative, and the plans for demonstrating the development of ZK development in the future.

 

A. Cost to run a ZK roll up is extremely expensive. In order to run a ZK rollup, the chain needs to create a ZK proof within a certain amount of time. It takes a lot of computing powers in costs to create a ZK proof. It makes the ZK role of impractical to operate. Someone has to bear the cost and cost imposed upon the customer did not make sense in terms of having a great UX. That is why we want to start with an optimistic rollup which is much cheaper to operate and much practical.

 

One of the shortcomings of optimistic rollup is that it takes 7 days for the block to be finalized by definition of optimistic rollup. On the other hand, ZK rollup may ensure the instant finality by making ZK proof for each blocks. That’s why ZK rollup is known to be the next big thing and why Kroma is trying to move from optimistic to ZK later on. To make the ZK proof cheaper, we’re working on a project called Tachyon, which uses a GPU acceleration to create a ZK proof faster, which is make it cheaper. So Tachyon is based on C++ and is uploaded on Github with the most recognition stars from the users. We’ve also launched ZK Research Center working with the 6 cryptography professors who are the experts on zero knowledge. They will be working with us, Kroma, to make the ZK technology to be implemented in the real world through blockchain.

 

 

Q. It seems inevitable for Kroma as an L2 will have to compete in ecosystem building with other L2s and mainnets. I am curious about Kroma’s vision for its future L2 position, including the broader blockchain ecosystem involving Kroma and L2 Networks. How does Kroma plan to expand its ecosystem, and what strategies do you believe will lead to achievable outcomes?

 

A. It’s known that there are a lot of competitions in L2 spaces and it’s a tough market. At the end of the all L2 wars putting technology aside, I think it’s all about the contents that each L2 has. For Kroma, we have Wemade game coming onto Kroma which works as an anchor for the growth. One of the recent titles that Wemade has launched last April was called ‘Night Crow’ and that game has reached about 150,000 concurrent users playing games together at the same time. They’re also earning a billion dollars per day. Web3 international version is coming out on March 12th of this year, and it will be onboarded to Kroma as well. If any of the listeners today plays MMORPG, it will be great to meet everyone at Night Crow game on the server. Not only that we’re talking to many dApps and builders for future ecosystem development, we do have a grant program like I mentioned and if any builders out there would like to work with us, please let me know I can give you more information about it.

 

 

Q. Detail milestones of Kroma Network — what does Kroma focus on 2024 and what the listeners should expect for the upcoming season ahead?

 

A. One of the recent achievement that we had was the Kroma Guardian House NFT which was sold to the public. Each KGH had 100 crows within the NFTs, it doesn’t have the functions yet, but we’ll have the staking open, so each NFT can be staked to the validator node to receive more rewards. Each NFT was sold at 300 dollars from the start and after a 100 NFT sales, the price goes up to 350. And there is a different number of NFTS to be sold for to go up to the next tier. It started with 300 dollars and currently it’s at 1150, which means about 5,150ish NFTs were sold. The sales started last Monday so we’ve ended up selling more than 3.3 million US dollars worth of NFTs and a lot of people has enjoyed the participation. This was one of the achievements that we made last week.

 

We also finished with our Galxe quest which started last December. It went on for 9 weeks and we partnered with about 10 dApps for the Kroma’s first Galxe campaign. The next one’s coming up in the end of February or early March because Night Crow launch will be happening on March 12th. We’ll be celebrating with the Galxe campaign as well.

 

We’re talking to about 10 other games to have the Galxe campaign with, and each Galxe week will have different quests for different games. That’s one thing that we are looking forward to. We are thinking of having a TGE on June of this year, and also listing different exchanges within this year for TGE. The transforming from Optimistic rollup to ZK Rollup will be happening next year. That’s some of the milestones we have in mind.

 

 

Q. Can you share a little bit more about the tokenomics, utilities, air drops?

 

A. We do not disclose any specifics about air drops. Of course, any participation within our ecosystem making transactions or using dApps on our ecosystem will be considered for future air drops. If you wish to know more details about air drop, you can find them on our docs kroma.network or hub page. The 70 percent of the whole tokens are assigned for the air drops. Those air drops are not going to be used at the same time from the beginning but some of them will be used after the TGE right away in order to compensate for all the participation on Kroma which will spark some interest from the user side.

 

 

Q. Does Kroma have investors?

 

A. Currently we are going through a fundraising period we have completed investment for four different entities. The 5th entity has just confirmed their investment today and we’re looking for some more. We are not disclosing their names at this point yet, but we’ll be disclosing names and the amount of funding that we received by April. Our team is going to the ETH Denver to meet with other investors for the final and the last fundraising before the TGE.

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