June 6, 2018
Hello Scroll Community!
While there is a formal thank you at the end of our first community update, we want to say up front how extremely grateful we are for all the support that the community has provided. From Scroll Boy tweets to random questions on Telegram, we enjoy all of it.
We intend to put out a bi-monthly update on our current projects and the progress as a company. This allows for transparency on our end for token holders and gives us the ability to announce the awesome things we are building. We would update the community monthly, however, we usually see objectives to completion. All and all, we want our updates to be significant, not something that you may expect nothing from. We hope that the updates included in this document are received well and, as always, feel free to join Telegram to ask any questions you may have. We are usually very responsive!
Our objective was to raise a minimum of $1MM as our seed round of capital and we have exceeded that. In reaching the soft cap, we realized that our resources were starting to pull away from development and that the team was focusing more on the raise than the longer-term objective. Since the conclusion of our ICO, we have reached multiple development milestones and are starting to scale extremely well with the funds we raised. It is important to note, that we currently have a separate institutional sale taking place. Upon the conclusion of the institutional sale, tokens will be moveable to another storage medium (IE: Ledger/Cold Storage). For future funding, we are beginning to work with our connections in venture capital in anticipation for our Series A Round of capital. For those of you who are not well versed with startup funding rounds, they typically go as follows:
Pre-Seed --> Seed --> Series A --> Series B --> Series C (Onward until IPO)
Since the ICO has been our Seed round of capital, we will continue to raise additional working capital as we begin to generate sales revenues and launch our projects for the world to see. We are also evaluating the merits of other funding mechanisms for the future, but we will always be working with our advisory team and connections to scale efficiently.
On top of the ICO, to conclude this round, we are also going to be raising another round of capital from Angel Investors in our network. This round, however, will not affect the token sale as it will be for equity. If you are an accredited investor interested in purchasing Equity in SoluTech, Inc. / Scroll Network, we will be opening more angel rounds in the future. Do not worry! You will have ample opportunity to invest for equity in the future.
We are happy to announce that Scroll is fully operational in a full-service facility. Yes, we have office space! We are beginning to scale properly and will start the hiring process for new development talent in the coming weeks. There will be plenty more office related pictures coming to our social media channels in the future.
SlideDrive is well on its way into the first round of BETA testing. As for the first round of signups, we will be primarily selecting industry professionals to test it. If you do not hear back from your application, you have NOT been declined, we are simply holding onto your application until you can be opted in. If you are declined for beta access, you will receive an email stating such. Expect responses to applications within the next coming month, and then the opt in round later. In a percentage scale, we are about 70% of the way to our first round of closed BETA testing. The percentage is not a direct correlation to a time scale. Since our raise has progressed smoothly, we anticipate community interaction with the platform will progress quickly. In short, SlideDrive will be here soon and we will keep everyone posted.
SlideDrive's first round of testing will be Desktop to Desktop (that includes laptops). We are currently working on bringing in mobile development talent to have SlideDrive available on those additional platforms as soon as possible. SlideDrive's complete launch will feature a mobile and desktop client, but we will be testing them in two different phases to ensure robust security.
There have been a decent number of requests for something like this, so we have listened. We intend on launching a public API for SlideDrive in the future. While we are still piecing together what it will include in totality, we will keep everyone updated regularly on changes regarding the API and future releases.
4.) Scroll Development
Scroll's MainNet will be released in the coming months. Currently we are operating on a private TestNet and doing everything from stress testing to adding new features into Scroll prior to its launch. Due to intellectual property finalization, we cannot make this update very “techesque”, however, expect more of that in the next update. We are releasing a supply chain product for Scroll. This will make our MainNet multi-variable as we will be able to service diverse companies in both their supply chain and data management, transfer, and storage needs.
ERC20 vs. SCRL Standard
Important update on this front. We want the community to know that we will continue our ERC20 support post MainNet launch in conjunction with our SCRL Standard for the following reasons:
1.) Most exchanges only provide ERC20 support.
2.) ERC20 works well in conjunction with a lot of existing systems
We do not want to alienate our existing supporters while at the same time, we want to provide our own standard of technology for the world to see and interact with. In short, we are still going to be providing SCRL standard support for Scroll Tokens but we are not abandoning ERC20 support either. They will coexist.
Transparency is important, and as such we want everyone to be able to experience the Scroll MainNet first hand. That being said, we are looking into releasing an interactive client interface for the Scroll MainNet. From the client dashboard, you would be able to access existing DApps that run on the Hypernode Protocol. Community DApps created on the Hypernode Protocol would need to apply to be listed under our community DApps criteria (to be announced) but DApps created by SoluTech, Inc. would be listed as standard products in the client.
The Scroll client would be used for much more than interacting with Dapps and the Scroll MainNet. From the Scroll client, you would be able to use it as a cold storage medium like MetaMask, and you will be able to move your SCRL to and from exchanges as needed. To create an easy way to access Scroll Tokens from anywhere, users can define their wallet private keys to their client account (SoluTech account) to be able to easily access their SCRL wallet by just logging in. This is just an OPTION that we are providing to help Blockchain/cryptocurrency adoption. You do not have to bind your private key to your account, and doing so is for quality of life. More information to be announced!
Scroll Dev Tools
We feel like it is important that developers have easy access to our Hypernode Protocol. After the release of the Scroll client, we want to release a dev tools client to be able to create your own DApps on top of our Hypernode Protocol. This would also allow verified individuals to apply to have custom smart contracts generated for an existing project to eventually launch a related token on the Scroll MainNet. We are requiring that any existing DApps MUST be in BETA stages of development to have a smart contract issued in anticipation for a token sale. This allows us to host legitimate projects on our MainNet and eliminate questionable projects in our Blockchain space altogether.
As a developer, you would have the following resources at your fingertips:
1.) Access to the Hypernode Protocol
2.) Scroll DApp Builder
3.) SCRL Standard Token Launch Option (ERC20 standard option as well)
4.) All existing APIs created by SoluTech, Inc.
We will be releasing more dev tools as well, so stay tuned!
Scroll Supply Chain / Shipping / Freight
As some of you already know, we have joined the Blockchain in Transport Alliance (BiTA). In examining further options for our technology, the development team was able to bring the power of the Scroll Network to the supply chain industry. We are now actively looking to support supply chain systems in conjunction with our standard storage/scaling options to expand our data management technology. In creating a supply chain option, we look forward to servicing many companies looking to make the switch to blockchain as we grow.
We want to make the Scroll Network a one stop shop for all things data from supply chain to storage. So far, we believe we are on the right track to doing so!
This is a frequent question asked. What we can definitely say is that we are working toward Scroll being listed on exchanges soon. We are also looking to list on future exchanges that will offer listings with the same compliance requirements that we adhered to during our ICO. Once the institutional sale has concluded, we will be regularly updating our Twitter about specific exchanges and WHEN we list.
We apologize if there are those of you in the community that feel like there is a lack of transparency on this front. We understand that exchange listing is integral to our ecosystem and we are working diligently to ensure that we list properly in accordance to standard rules and regulation. We will consistently update our community through our media channels, but it is important to note that we are close to the result that our community is expecting.
Our UI/UX and design team is currently working on a brand-new website. This website will be our definitive hub for downloads, updates and purchases. Like existing data storage platforms, we will be integrating enterprise purchase options into the new website. You will then be able to purchase Scroll storage options (per package) directly from the site or from the Scroll client. Upon release, the Scroll client will be available for download on the site and features of it will be released in waves.
As you can see we have been very busy! But, our success would not be possible if it was not for our supporters. For everyone that purchased tokens, thank you for believing in the project. For those that believe in the project, but were not able to purchase tokens at this time, thank you for your interest! When supporters send us messages saying how much they love the project and the team behind Scroll, we appreciate the feedback. We let the entire team know when someone sends us a message telling us that they applaud our project. We would not be where we are today without your encouragement! A few years ago, we were working hard to advance to the point where we could have an inspiring office and increase work efficiency and productivity. Today, we are at that point! You helped us get there. We hope for your continued support in our project and, as always, we will continue to update you.
Thank you again,
-The Scroll Team