Another quarter has passed and so another quarter’s contribution rewards have been evaluated by the IOST Foundation and ICAC. We are pleased to announce we have been selected as a tier one node, now for the 3rd straight quarter. Currently there are only four nodes who have received tier one each quarter: Sutler Ventures, Metanyx, Bitboy and Inside IOST (all of whom are U.S. based!). 

In Q3, we submitted as a content creator, but our contribution included more than just content creation. Each category below shows how we contributed to IOST in quarter three. 

Content Creation

  • Created and distributed a podcast and technical analysis videos each week for the entire quarter
  • Nearly 12,000 viewers / listeners across iTunes Podcasts, Youtube, SoundCloud and more
  • Three IOST Dapp rankings blogs that generated over 3,000 reads on Dapp.com
  • Over 1,400,000 impressions on Twitter across all of our content 

Integrations of Dapps/Protocols

  • pixEOS: We introduced pixEOS to IOST in an effort to onboard them to IOST. The IOST Foundation discussed the integration, but ultimately passed due to pixEOS’ focus and intent on funding from whichever protocol they move to from EOS. 
  • Minglechain: We introduced Minglechain to IOST in an effort to increase the number of users that exist within the IOST ecosystem. Minglechain boasts over 20,000 users and believed they could help move these users to IOST. However, Minglechain’s focus on fundraising from the protocol they move to did not allow the integration to occur

As a general note, we find that projects who are able to complete the integration and become a node under the current IOST staking structure is the best way to go about receiving funding from IOST or other IOST fundraising partners. It is very common in the industry right now to see projects asking for fundraising in order to port over to a new protocol, when actually fundraising is not needed for the integration to occur. For some time, projects were able to leverage their current users or *potential* for success in negotiating fundraising with layer one protocols (like IOST). This might act as a great short-term marketing play for protocols, but long term generally does not end in ROI for the layer one protocol or its fundraising partners.  As the industry has matured and ROI has become more difficult at the application layer due to a lack of user engagement, it has been a harder sell for projects to raise money just for porting over to new layer one protocols. We expect that as the market sees additional recovery out of the 2017/2018 bear market that this fundraising process will be a bit easier. 

Integrations of Wallets/Partners

  • Staked: We have been trying to build a larger relationship with Staked in order to eventually assist in onboarding Staked as a staking partner for IOST. Based on the business model that Staked runs, it is unlikely IOST will be onboarded until Staked sees additional institutional interest in staking for IOST. We believe that as IOST grows, especially in North America, it is important we have established relationships with larger, more institutional-focused staking companies in order to quickly capitalize on the growth of IOST in North America. Members of Sutler Ventures met with Staked team members in NYC and are attempting to include Staked in the Layer 1 podcast in quarter four. 
  • Ledger Wallet: Ledger wallet is the largest and most widely distributed cryptocurrency hardware cold wallet on the market today. By integrating with Ledger, IOST expands its reach to hundreds of thousands of Ledger customers. Sutler Ventures lined up a developer for the Ledger wallet integration, but was told by IOST the timing was not yet appropriate. As we roll into quarter four, IOST has asked that we revisit Ledger integration and thus this will be a major focus for Sutler Ventures this quarter. 

Initiatives

  • IOST Global Alliance (IGA): Sutler Ventures devised and helped launch the IGA in order to improve communication between english-speaking nodes and the IOST foundation. Further, we believe that the IGA will be a trusted organization within the IOST ecosystem that could help improve decision-making processes during the quarterly contribution evaluation processes. Finally, as IOST continues to further decentralize itself we would like to see the IGA be included as a major decision maker within the ecosystem. With all of this being said, we believe IOST is still in need of a strong presence from the IOST foundation for the foreseeable future while the ecosystem continues to grow. It is very important to Sutler Ventures that the IOST team continues to build the IOST ecosystem while the node partners continue to grow and figure out the best ways to collaborate towards the general growth of IOST. 

Stay tuned for an update on our Q4 roadmap!

Mike Finch

Mike Finch

Founding Partner, Sutler Ventures

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