AMA Answers from the Aventus Founders – Aventus Network
A few weeks back we asked our community which questions they had for our founders. Here are the main questions, answered directly by Alan Vey & Annika Monari.
1. Did Artos use Aventus funds?
Artos has over time had funding from multiple sources, which include grants from Aventus to develop the Aventus Protocol.
2. What is the use case of AVT that will increase demand for the token?
The new white paper that is due to be released in the coming months will make this very clear but fundamentally, AVT will remain the fuel and the due-diligence (fraud prevention and governance) mechanism of the Aventus network. The amount AVT paid in fees and the amount staked on the protocol will scale proportionally with usage; details of the updated economic model will be released over the next couple of months.
3. In your website, you mentioned that event creators can prove the legitimacy of their events by locking or voting with AVT. But a scammer who spent 10 000$ on AVT at 0.1$/AVT have more power than an authentic event creator who spent 10 000$ on AVT at 5$/AVT. How can you address this problem?
What we are now calling Aventus Classic, our fully Ethereum-based version of the protocol that satisfies the original whitepaper with all ticket and event-based logic on-chain requires event creators to stake and vote with AVT. The AVT required is intended to encourage use and fairness but we do not control the AVT to USD exchange rates. Aventus Classic on Ethereum lacks scale so while it provides a solution for the long tail of ticketing it is not viable for large events (for which ticketing companies typically perform due diligence before paying ticketing monies to the organisers). So Aventus could serve the entire market we have designed a much more scalable layer-2 solution running on Ethereum we’re calling the Aventus Network (see the tech update here (@Robyn please link to the blog post you released explaining the epics)). We will be releasing both Aventus Classic and the first version of the Aventus Network in coming months, and explain more of the reasoning in the upcoming whitepaper.
4. Can you tell me something about the state of the release that was firstly announced for May and than for early June? (No dates were given, they were just told that we were working on something that would be announced shortly. When asked when they were told perhaps May and then perhaps beginning of June. You know what they’re like…)
We expect press around our big announcement in the next couple of weeks, it is an exciting application of the technology. Further technical releases will follow in coming months including a new white paper and more commercial partners.
5. How will the demand for the token go up?
6. Is the protocol meant for the ticketing businesses and the independent artists? And is it meant for both online and physical tickets?
The protocol is for any business or artist that sells or has rights associated with ticketing. Independent artists can greatly benefit from adopting the protocol, especially with regard to increasing the control they can exert over their tickets. The protocol is a digital solution and does not add much value to physical tickets. It is also an infrastructure solution that existing ticketing technology can plug into, and therefore artists, teams, event organisers and other ticketing stakeholders need to plug their existing technology into the Aventus infrastructure to leverage its benefits.
7. There is only one question we care about, that is, the AVT token price issue, and when will it be listed on other exchanges?
We do not solicit exchanges, and are focused on building fundamental sustainable utility through innovative technology and adoption. We are now in a position where we can engage with large enterprises to fulfil their ticketing needs and expect to see significant adoption by the tail end of this year and rapidly expanding in 2020.
8. When do you expect to sell the first ticket? Is it a chance to be this year?
The Aventus approach is to sell infrastructure to the ticketing industry and allow existing ticketing market participant to leverage the benefits this new and revolutionary technology can bring. The ecosystem currently focuses on ticket delivery and transfer for which we’ve run a number of private trials, and is not a sales platform.