This week, Kenneth Oh joined the SmartMesh ecosystem as an advisor. Kenneth Oh is a Senior Partner of Singapore office of global law firm Dentons, with over 20 years legal practice experience focusing on capital markets, M&A, cryptocurrency, DLT & Fintech. Kenneth is Ranked Band 1 for Fintech Legal by legal directory Chambers.
Under the close collaboration between SmartMesh and MeshBox, a brand-new blockchain business model, termed the “Value Internet MeshBox MBOX NFT Swap and optional MBOX Staking for De Yield Farming” is about to emerge. Users swap stable coins for an MBOX NFT, which funds the manufacturing of the corresponding MeshBox hardware. MBOX NFT holders then have the option to stake their MBOX NFT and become MeshBox Yield Farmers. The MeshBox equipment in the physical world corresponding to this MBOX NFT is then deployed in emerging markets that would benefit from Internet connectivity, to provide HyperMesh network services. The income generated in the physical world will increase the circulation of MESH and SMT tokens to support the token economy. This business model solves the liquidity problem of deployment funding and network asset costs that are needed to build the HyperMesh Value Internet, allowing Value Internet smart devices (such as MeshBoxes) to be deployed where they are most needed. This will greatly accelerate the deployment of the Value Internet, and bring rewards to liquidity providers.
Currently, SmartMesh and MeshBox are considering compliance issues for the first MeshBox MBOX NFT Swap and optional MBOX NFT Staking for DeFi Yield Farming launch. Such compliance is needed for the long-term viability of the project. After the compliance issues have been addressed, and smart-contracts are audited, SmartMesh ecosystem will start the Genesis launch.
Note that persons and entities in USA, China, and Singapore, are NOT eligible to participate in the MBOX NFT swap, and subsequently the MeshBox Yield farming process. Interested participants will undergo a KYC process to enforce such eligibility.
Since the first batch of MeshBoxes to build the HyperMesh Value Internet only consist of 85 units, the owners of these 85 MBOX NFTs are also called “Genesis Founding Members of the Value Internet.” In the future, the MBOX NFTs will be linked with encrypted art, Virtual Reality objects, etc., and can be transferred and traded within the SmartMesh ecosystem. Via our Atmosphere cross-chain architecture between SmartMesh Spectrum and the Ethereum ecosystem, exchanges such as Opensea and Rarible can be used to trade the MBOX NFT, bringing more benefit to the MBOX NFT owner.
The following is the work from the past two weeks in detail:
The specific work is as follows:
1. Photon optimization related work.
1.1 Analyzed the design of activating Photon deposits through a DeFi platform; discussed the process of locking funds into the agreement and generating income and interest, and provided technical support for the subsequent expansion of Layer2 DeFi.
1.2 Update the configuration of the operating environment of the Photon test chain, perform functional testing and storage optimization of related contracts and node data, prepare to support the subsequent expansion of NFT liquidity Layer 2.
The specific work is as follows:
- Atmosphere interoperability and preparation for Living Lab.
1.1 Conducted a comparative study of other technical solutions for NFT cross-chain. Considered cross-chain communication and NFT metadata discovery, authentication, and control process, providing references for NFT cross-chain design.
1.2 Paid close attention to multi-asset cross-chain management, constructed a cryptocurrency basket by pledging multiple encrypted assets, and introduced oracles to calculate the value for sharing rewards for analysis, and prepare for further expansion of multi-asset interoperability eco-system applications.
1.3 Continue to collaborate with JED Trade, make alternative designs for the cross-chain communication data structure, introduce the NFT_ID logo in some interfaces to provide support for subsequent project interoperability.
The specific work is as follows:
The Android version of the Tango APP ecosystem module, MBOX NFT Staking for DeFi Yield Farming, has passed regression testing. Currently working on the details and improving user experience. The updated APP will be released online soon.
The specific work is as follows:
- This week, Kenneth Oh joined the SmartMesh ecosystem as an advisor. Kenneth Oh is a Senior Partner of Singapore office of global law firm Dentons, with over 20 years legal practice experience focusing on capital markets, M&A, cryptocurrency, DLT & Fintech. Kenneth is Ranked Band 1 for Fintech Legal by legal directory Chambers.
2. On 2020.11.19, SmartMesh consultant Dr. Peter Yan was invited to present “SmartMesh -Blueprint for Mass Adoption” at the “Conference of the Movements 26 Virtual”. The main content of the speech was the application of Smartmesh’s blockchain technology after the epidemic, including inclusive communications, inclusive finance, and epidemic tracking.
- SmartMesh engineer Scott Wang, and Advisor Peter Yan have been collaborating with Nanjing University on several research areas. One of research areas is related to Photon Routing algorithms to dynamically re-balance the available-balance on Photon Channels. This has been published in a paper and a Book. Another collaboration research topic is related to Transactive Energy routing, which is directly related to Photon for the machine-to-machine payment, followed by the Energy routing itself. The goal is to optimize for both Photon routing and Energy routing at the same time. For Energy routing, the goal is to minimize battery storage, and transmission losses during the electrical transmission process itself.
Professor Ding graduated from Stanford University and returned to Nanjing, China to accept a Professor position at Nanjing University. One of the research areas for collaboration is Photon Routing algorithms to dynamically re-balance the available-balance on Photon Channels.
The paper was published in the Second CCF China Blockchain Conference, CBCC 2019, Chengdu, China, October 11–13, 2019.
The book can be purchased on Amazon:
https://www.amazon.com/Blockchain-Technology-Application-Conference-Information-ebook/dp/B084TLFW49
