Sergey Shashev and Sergey Jurinsky answered the questions from the Everscale community regarding the proposal for the loan, put on EVER DAO.
⏺Loan amount — $8,000,000
⏺Collateral amount — 312,121,362 EVER
Loan-related answers
⏺The loan amount was based on the network's yearly budget
⏺The collateral will not be used within the Everscale ecosystem, including voting on EVER DAO
⏺The loan repayment is planned to come from the U.S. dollar income generated by projects launched in Southeast Asia and Oceania (multiple projects with different counterparties). The goal is to avoid the need for coin sales
⏺Everscale and the creditor share a common goal — the growth of the network's capitalization and EVER price (the creditor is involved in these new projects)
⏺The creditor's option is aimed at providing them with a fair value of EVER and returning the loan in network coins (with a discount)
⏺The key goal of the run is to adopt the Mesh technology, which allows for the integration of all TVM networks. It enables the creation of multiple independent economic actors interconnected with each other. The specification is being processed jointly by EverX and Broxus, and the information will be published soon
⏺Community updates on the progress will be provided through AMA sessions held quarterly. Details will be disclosed in agreement with the creditor
Plan for the use of loan funds
Core development, marketing, PR, and all applicable players in South Korea: ~$1.3 million per month (including development and servers: ~$500-550 thousand). Applied developments by Broxus are implemented on a commercial basis. The money will not go there.
Development team results for the summer
⏺Synchronization of work between EverX and Broxus teams
⏺Many optimizations for the hardware and memory
⏺Achieved the first fast finality and completed REMP
Everscale Roadmap
The actual Roadmap should be released within a few weeks after the launch of the Venom mainnet. It will be necessary to align the overall work plan of the two networks to maximize the efficient use of the core development resources.
⏺Current aggregate EVER Free Float is about 500-600 million.