Skrumble Network (SKM) AMA with Wolf Crypto — Part Two
We held an AMA with Skrumble Network (SKM) in our public Telegram channel on the 4th of April 2019.
Skrumble Network is a completely new, innovative blockchain and application that centers on creating the most secure connections for communication possible. Skrumble’s blockchain is uniquely optimised for secure communication-centric connections and transactions, a decentralized social media communication application and a communication layer for developers to build into any application.
With no middle entity or centralized server host in between to censor, block or manipulate any data, Skrumble Network’s blockchain and application is a catalyst for data privacy and allows for truly democratised communication on a global scale.
SKM recently listed on Huobi Korea and will be launching their mainnet in early April. Skrumble’s first dApp, Ally, has recently achieved over 100K downloads across the Google Play and Apple App stores.
We last spoke to Skrumble Network in April of 2018 in the lead up to their crowdsale. This AMA can be viewed here —
Here’s what Skrumble Co-founder Eric Lifson, Marketing Supervisor Shelby Pearce and Marketing Coordinator Soomin Lee had to say in Part Two of our AMA series with Skrumble Network.*
*This AMA has been edited for clarity.
WC (Wolf Crypto Telegram Member)
Welcome to yet another edition of Wolf Crypto AMA, this time with Skrumble Network!
Joining us from the Skrumble Network team are Eric Lifson Co-founder of Skrumble Network, Shelby Pearce, Marketing Supervisor and Soomin Lee, Marketing Coordinator.
TEAM & TEAM GOALS
WC
It’s been awhile since our last catch up with Skrumble, in fact it’s almost been a year now…almost an age in the Blockchain space.
What has Skrumble been up to since then?
SP
Well, suffice to say, it’s been a whirlwind of a year!
From announcing the Skrumble Network project in February last year, doing the crowd sale in May, selling out in an hour, to the widespread beta release of our first dApp Ally, the SKM World Tour, hitting over 150K users on Ally and growing, releasing the Skrumble Network testnet, decentralizing Ally on the testnet, announcing our contract to build GAX (a new global STO exchange), and now just recently, receiving a huge endorsement from Ethereum Co-Founder Anthony Di Iorio in an interview we posted this week.
And our team isn’t stopping there, we’ve got some big stuff coming in the next few months!
WC
As a recap, for those who might not know who the Skrumble Network team are, can you please tell us a bit about yourself and what led you to being involved with the project?
SP
Eric created a substantial name for himself in marketing by working with industry leaders to orchestrate multiple successful strategies and campaigns. With a BA in communications (Interpersonal & Mass Media) and an MBA in Marketing, Eric has surrounded himself with a top tier educational background, enabling him to establish 10+ years of directing globally strategic marketing projects.
Most notably launching the release of McCafe’s, their gift-card, as well as the entire brand’s marketing strategy Canada-wide. Eric began his career by making a splash in the marketing world and he continues to fulfill his thirst for strategic, successful projects today in the communication technology space. Eric continues to innovate and push the boundaries, and now devotes his expertise to the communication and blockchain technology sector with Skrumble Network.
SL
After starting a career in the non-profit sector organizing leadership tours and speaking in front of thousands of youth Canada wide, Shelby took her passion for community global by leading international development efforts in Kenya, Ecuador and Mexico working with local communities and building much needed infrastructure.
After studying advertising and marketing communications at Humber College, Shelby brought her expertise to the Skrumble team. Shelby now leads the marketing team in developing marketing and brand strategy including social media, community engagement, marketing materials, websites, sales materials, PR, copywriting for both desktop and mobile applications and plays an integral role in the product development of Ally.
SL
I’ve been here for a little over a month! I’m responsible for the social media channels as well as helping out in the Korean community!
WC
Again, to recap, can you give us an overview of what you’re trying to achieve with Skrumble long term and how using a blockchain/a token factors into this?
SP
Building game-changing technology on a unique and truly secure network.
With Skrumble Network, ultimately data privacy and freedom of speech globally to those in need, and the token is an integral piece in order to maintain the value and integrity of the blockchain, nodes and community for all current and upcoming dApps.
WC
I recall Skrumble Network as having quite a large team from the outset, have you had to hire more devs or other staff since you raised and do you plan to hire more employees in the future? If so are there any particular areas you feel your team needs to be bolstered in?
EL
25+ and we’re still growing.
SP
After the initial raise, we definitely added a few key team members where we needed to. Since then, our team has done an amazing job working hard and collaborating on every aspect of each thing we’re working on, and the team continues to grow.
WC
As an ICO of early 2018, have any of the project goals changed since then?
SP
With the Skrumble Network crowd sale in May 2018, our team vowed to build not only a communication-centric blockchain but a platform that could rival Telegram, Facebook, WeChat and all the others in terms of centralized communication. We also talked about building an ecosystem of dApps.
SL
I think if anything, the project goals have only been reaffirmed because the need for secure and private communication is so important. Ally is out there, fully decentralized, the Skrumble Network mainnet is coming soon, we’ve got GAX in the ecosystem now and we’ll be announcing several exciting dApps and partnerships in the coming months.
WC
What has the reception to Skrumble Network been like post raise, in both Canada and around the world?
SL
In Canada, there’s a pretty small, close knit blockchain community, and we’re active members. Worldwide, we’re of course big in China due to censorship the Chinese government has put on WeChat, and pretty much across Asia. While working on growing our footprint worldwide, we’ve also got growing Russian and Korean communities.
WC
How have you found the Korean market? It seems to have avoided the crypto winter?
SL
Our team was actually just there on our road show a couple weeks ago, and Eric spoke at TokenSky last year. We have a great partner called Synco who’s pretty big in Korea. We also just launched on Huobi Korea and we’re supposedly the second best launch on the exchange.
Our Korean community is growing and it’s definitely a big focus for us!
WC
Skrumble hosts a who’s who of advisors, can you give a rundown and what their various involvements have been over the past year?
SP
Anthony Di Iorio, Co-Founder of Ethereum: Founder of Decentral and Jaxx. Anthony meets with our team every few months, has opened his network to us and advises on business and marketing strategies.
Jinius Tu, CTO of Aion: Jinius has played an integral role in the progress of the Skrumble Network blockchain developers in building our testnet, mainnet, token bridge and swap, etc. He often comes by the office, meets with the team and advises on development process moving forward.
Jeff Pulver, Co-Founder of Vonage: Jeff helped us expand our audience by attending so many of his exclusive events and opening his network to us, giving us shoutouts on social and also advises on our communication APIs and layer.
Dr. Jiangang Wu, Co-Founder of Fusion: Dr. Wu has visited the Toronto office a number of times, advising on marketing strategy and participating in our blockchain education lecture series in the summer in China and Canada.
SL
Kevin Hsu, Founding Partner at BlockVC: Kevin has played an integral role in SKM’s success in Asia, advising specifically on the Skrumble Network token economics, holding events for us, and actually organized the entire Asia side of the summer World Tour. Kevin’s support is ongoing in terms of our strategy and business development models.
THE SKRUMBLE NETWORK
WC
Alright, now we’re recaped the team and everyone’s involvement, lets get into the tech…Can you break down the Skrumble Network into specific use cases? How does your average or generic user use SKM?
SP
Above all, Skrumble Network aims to bring security and privacy to people’s online communication and provide the tools and ecosystem for others to build with other use cases.
For example, Skrumble Network’s first dApp, Ally is focused on allowing users to communicate via text, voice, and audio in a fully encrypted and decentralized way.
As the lifeblood of Skrumble Network, SKM functions as a utility token within our network and by holding SKM, users can ensure the utmost privacy and protection while online.
WC
So how do users purchase SKM tokens and content on the network?
SP
Users are able to purchase SKM through one of the exchanges we’re listed on. Then, they can transfer their SKM to their native Ally wallet.
Users can then take advantage of decentralized file storage, messaging, audio calling, premium channels, premium groups, and a blog publishing feature (coming soon!).
WC
Is Skrumble Network’s blockchain PoW or PoS?
EL
Uniquely, the SKM blockchain is based on PoA — Proof of Authority.
WC
What is the difference between PoS, PoW and PoA?
EL
Proof of Authority (PoA) is a modified form of Proof of Stake (PoS) where instead of stake with the monetary value, a validator’s identity performs the role of stake.
As there’s no stake to validate, transactions can occur very rapidly. This gives a nice initial overview on the system.
WC
How do miners mine the Skrumble Network chain?
EL
They don’t. There’s a set level of native coins. It’s all about the staking.
All SKM coins are pre-mined, so there is no need for miners to actively mine new coins. However, validators are needed in order to ensure the validity and integrity of the SKM blockchain.
WC
How many nodes are currently active on the Skrumble Network?
EL
88 Masternodes and 12 Grand Masternodes for now. Will expand and scale with user growth.
SP
Our hope is to add more so we can make Skrumble Network as decentralized as possible while still ensuring secure and fast performance.
WC
Can you go into a bit more detail as to how these nodes work?
SP
Grand Masternodes are responsible for ensuring the network is up, voting and achieving consensus, and the distributed storage.
Masternodes perform contract verification and ensure growth and support for the ecosystem.
WC
So how are users incentivised for running nodes on the Skrumble network?
SP
Currently, we are offering a very enticing promotion where Masternodes can earn a reward of 25% on an annual basis once their tokens are staked for at least 3 months.
WC
What is the stake required for each node type?
SP
Currently Masternodes are 500,000k SKM and Grand Masternodes stake will be announced soon.
Grandmasternodes are required to stake more SKM than regular masternodes because are responsible for ensuring the network is up, voting and achieving consensus, and the distributed storage.
Masternodes perform contract verification and ensure growth and support for the ecosystem.
WC
How can a user run a masternode on SKM?
SP
It’s really pretty simple! Currently, we are running the process manually to ensure all goes well. Those interested in securing a Masternode just send the required amount of SKM (500,000 for standard Masternodes) to our wallet address. You earn rewards after holding for 3 months!
They can contact @MrJonathanCunningham (on Telegram) to sign up for the waiting list!
WC
I have to send tokens to you to run a node?
EL
Believe it or not, our Chinese community prefers a hands on approach and we have a huge Chinese contingency.
WC
It’s not very decentralised if you’re holding tokens for users…
EL
That’s correct. The Masternodes are a placeholder until mainnet launch.
WC
So once mainnet launches, I can send tokens to the smart contract and register an address with you…and do KYC?
EL
Yes but KYC is only required for Grand Masternodes.
WC
Do you have a reward calculator for nodes and staking?
SP
Currently, we are offering a very enticing promotion where Masternodes can earn a reward of 25% on an annual basis in SKM once their tokens are staked for at least 3 months.
SKRUMBLE NETWORK — FROM TESTNET TO MAINNET
WC
Your mainnet is scheduled for this month, what effect will moving over to your own network have on the functionality of Ally and the overall Skrumble Network ecosystem?
SP
Releasing our mainnet has huge implications for the entire Skrumble Network community. Not only will Ally be moved over onto mainnet, but we’re going to be announcing new projects building on mainnet very soon that are currently in stealth mode. The dApp ecosystem will only continue to grow!
WC
Do you have a fixed date for mainnet release yet?
SL
We do internally, but we haven’t announced it yet!
EL
It will just show up with a bang.
WC
How has your testnet performed and can you give any details as to performance metrics?
SP
The entire team has been really happy with the performance and progress of the LUNA testnet.
As for key metrics, we reached over 3000 TPS. Based on Ally’s usage requirements, this would help us to scale to at least 7–10 million users.
WC
Has your testnet been open to the public and have you had any community participation in regards to testing/bug bounties etc?
EL
Nope. Just internal and strategic partners.
SP
We’ve always stood by the fact that SKM is a community project, however, we did not release the testnet binary to the public because we wanted to ensure the integrity and uniqueness of the project.
WC
Who are the strategic partners?
SP
We did have our advisor Jinius Tu, CTO of Aion, in to do some whitehat testing a number of times and held a private hackathon event using the TestNet.
WC
What blockchain was testnet based off?
SP
Our testnet is based off of our own version of a PoA consensus. We’ve completely customized it to suit our communication requirements.
WC
What are the advantages to using Skrumble mainnet over the ETH network?
SP
ETH was built for fast and secure financials transactions. We’ve built a unique blockchain optimized for private communication.
WC
Do token holders need to do anything for the token swap or can they just hold their tokens on a set exchange/wallet?
SL
The token swap will not be immediate, we’ll be scaling it out accordingly.
WC
How does that work when it comes to exchanges?
EL
We will work them to shift and support to the native coin in the future.
SL
Details will come soon!
SKRUMBLE NETWORK — THE ALLY DAPP
WC
So Ally, what is it, what does it do, where do you want to go with it?
SP
Ally is a decentralized crypto transfer and communication app! We want to create data privacy and give users freedom of speech worldwide!
WC
Can you link us to the Ally app so we can check it out?
SP
You can download the APK from the Ally site! You can also download Ally from the Google Play Store and Apple’s App Store.
WC
How far into development is Ally and how many users have been onboarded since its inception?
SP
We’ve come a long way since our MVP back in April 2018, and the first public beta release in August 2018. While Ally is still currently in beta, we recently released Ally beta V.2.0 where we’ve introduced P2P SKM crypto transfers, decentralized messaging, decentralized file storage, premium broadcast channels, and bottom bar navigation (Android), improved interface and copy changes, enhancements for the Chinese community, and general bug fixes and performance improvements.
Since our public release, Ally has over 150k users.
WC
What is the growth rate like for the Ally app?
EL
We get about 5–10k active users every day and growing.
WC
What can end users do on the Ally app, is this purely just a messaging application?
SP
Ally is way more than just a messaging dApp! Users have the ability to do P2P audio calls, store files, send SKM in a P2P way (in-chat and via wallet transfer), join groups or channels they find interesting, access premium channels, send ephemeral messages, conduct polls, earn exclusive stickers, join our VIP program, and use our Discover feature to find group conversations that interest them most!
WC
How does Ally differ from the standard clients like Telegram, WhatsApp etc?
SP
All of these platforms are centralized. They found a backdoor into groups chats on WhatsApp last year, Telegram was hacked and banned in multiple countries, the Chinese government came out and said they are actively censoring conversations on WeChat, and don’t even get us started on Facebook!
There was another Facebook scandal just yesterday.
WC
I assume that when mainnet is released, Ally goes from Beta to Production?
SL
When Skrumble Network launches on mainnet, Ally will still be in beta for the time being. But the plan is to launch it on mainnet within the next couple months, so stay tuned!
WC
Is there a subscription model for using Ally? What’s the cost and how do you keep this subscription cost stable?
SP
Ally functions on a sort of “freemium” model whereby users can access some features and functions of the dApp without paying anything, such as decentralized messaging and audio calling.
However, to take advantage of higher level features such as premium channels/groups, decentralized file storage, or premium stickers, users would have to hold a certain number of SKM tokens in their wallet.
WC
What markets are you currently focusing on for Ally?
SP
We spend the bulk of our time on resources focusing on the Asian market, specifically China. However, we also have Russian and Korean communities that are growing quickly. Also, we’re currently doing market research and plan on expanding to a number of communities coming soon.
WC
What countries have the highest use rate of Ally?
SP
Definitely China has the highest overall use rate for Ally. The Chinese people are avid fans of our project and fully embrace our mission. Our team has also spent a great deal of time on the ground in China getting a feel for the market and understanding how we can make Ally into crypto’s first “killer” dApp.
WC
Why would Chinese use Ally over WeChat?
SP
WC
What about your claims that Skrumble Network (and by proxy Ally) cannot be blocked or banned?
SL
WC
Has this been tested on testnet? Have you run Ally in China on testnet and still been able to communicate?
EL
Yes. Most of our users are Chinese.
SP
Yes! We recently made quite a few performance enhancements for China and the app is working well!
WC
The Ally application contains both a wallet and content. Can you go into more detail on the wallet itself? Does it only accept SKM tokens or other cryptocurrencies?
SP
Currently, the native wallet in Ally can only transact SKM. As a way to encourage in-app wallet transfers, there are currently no gas fees for P2P SKM transfers and other utility functions within the dApp!
SKRUMBLE NETWORK — THE DAPP ECOSYSTEM
WC
How exactly does the dApp ecosystem work?
SP
It’s pretty simple! For those wanting to build on the Skrumble Network chain, we provide binarys, access to the network, unique communication APIs, marketing and consultative support, and much more.
WC
Have you had any developers commit to building on top of the Skrumble Network via the dApp ecosystem?
SL
Several teams are already currently in development in stealth mode and we’ll have some exciting things to announce soon.
WC
Can you go into some detail on the API tools you have released for developers and how this helps expand the dApp ecosystem?
SP
For sure! The Skrumble team has actually built an extensive developer portal for other software and blockchain engineers to use our proprietary communication technology in their own applications, like messaging, calling, video, team creation, etc.
It’s an ongoing project that the Skrumble team continues to work on, and once parts of the Skrumble Network binary are released, community members will have access to blockchain elements as well.
WC
Is there a set limit as to how many dApps can be built on Skrumble Network and what sort of dApps are you targeting?
SP
There is currently no limit to the number of dApps we are able to support, as Skrumble Network is designed to focus on use cases with high transaction volume. Ally as a use case is around secure communication and media, but we’re also pursuing a number of other opportunities.
WC
Have you had any interest from upcoming or already existing dApps to move over to the Skrumble Network once mainnet is live?
SP
We’re in talks with a few different teams who have existing products that can be more secure and have improved functionality by moving onto the Skrumble Network blockchain.
However, we haven’t announced anything formally yet!
WC
Sounds like there are still a lot of announcements still to come!
SP
Hell yeah!
WC
A B2B dApp is mentioned in the roadmap, what is this and do you have clients already signed up to leverage this?
SL
Because we haven’t released anything publicly yet, all we can say is that the MVP is complete, our team has been testing internally for a few months now and we have a group at Ernst & Young signed up for a pilot.
SP
We’re super excited for this one!
WC
As of now how has the calling and video calling been done, this is currently via centralized servers etc?
SP
Audio calls are currently decentralized on our testnet using the authentication and identity management protocols we’ve developed, bringing users a secure connection.
A basic version of video calling has been developed and we are planning on implementing it in the app after Ally is on mainnet. We have lots more planned for these features, including group video and streaming as well.
THE SKRUMBLE NETWORK — THE COMMUNICATIONS LAYER
WC
Can you go into more detail on your proprietary SKRTP and what makes this unique as opposed to other communication protocols?
SP
We’re finalizing a more in depth yellow paper that goes over all these updates. As you can imagine, with any technology project, our technology architecture has evolved since the initial whitepaper. We’ll be releasing that soon.
WC
How are files stored on the Skrumble Network blockchain?
SL
Files will be encrypted using an algorithm then sliced into several pieces, distributed, and stored on servers.
WC
What type of communication methods are supported on the Skrumble Network and how do these differ to traditional communication apps?
SP
Ally is way more than just a messaging dApp! Users have the ability to call, transfer crypto to one another, send disappearing messages, access groups and channels from different communities around world and so much more.
We’re different because we’re decentralized, and we’re dedicated to building features into the app that our users want to use because the other options out there aren’t private.
TOKEN UTILITY
WC
What are the specific utility use cases for the SKM token on Skrumble Network in general?
SP
Generally, SKM will function as the lifeblood of Skrumble Network and be the currency in which other dApps transact with.
However, we imagine that SKM will be used to power other dApps with missions to revolutionize financial transactions, facilitate smart contract usage, develop virtual showrooms, and establish a freelance marketplace.
WC
‘Premium Storage, paid in SKM’ Can you please go into detail regarding this? Size, costs and how exactly data storage works on the Skrumble Network?
SP
Our current plan revolves around Premium Storage costing $5 USD per TB monthly with a 5% burn rate. Decentralized storage is the future and we’re excited to be on the forefront of that! Of course by distributing data we can ensure a higher degree of privacy and security.
WC
When users purchase SKM tokens on the Ally dApp, where do these tokens come from? Skrumble or an exchange?
SP
The functionality to buy SKM within Ally hasn’t been implemented yet, but we’re working on it! Right now, users can buy SKM from any of the exchanges we’re listed on.
WC
Are any SKM tokens burned when using the app or do all payments go to the SKM foundation/team?
SP
Currently, all SKM P2P crypto transfers are free and the burn rate is 2% of the network fee (which equates to about .02%).
WC
Are there any incentive programs in place in which users can receive SKM tokens for participating on the platform?
SP
We’ve actually built a VIP Program into the Ally wallet so users who hold a certain number of tokens will receive discounts on the utility functions within the dApp.
Check out this blog post for more info —
PARTNERSHIPS
WC
BlockVC was a investor and are very well known and connected in Asia. Can you please provide some detail as to what they have helped you achieve since investing in SKM?
SL
Please refer to the initial explanation. They did the entire roadshow for us, in August.
WC
How have your other partners been supporting Skrumble since the ICO?
SP
We’ve been getting a lot of great feedback from a number of our early supporters, investors and partners.
Check out this video where one of our investors, Richard Wang, Partner of the Draper Dragon Fund, came to Toronto to visit —
WC
Has Skrumble announced any further partnerships since the ICO that we should be aware of?
SP
We recently announced our partnership with GAX, a new institutional grade trading platform for buying and selling security tokens.
Check out more info on this blog post —
COMPETITORS
WC
In our last AMA, you identified Blockchain competitors such as Mainframe and Status. How do you feel Skrumble is progressing compared to those two projects?
SP
I think we’re progressing quite well. Our mainnet will be launching in the very near future and then it’s off to the races!
Ally has over 150k users and we’re actively expanding into new markets.
Check out this link to learn more —
WC
Nice plug, thanks guys!
WC
Would you be open to integrating other tokens into your wallet, and potentially other blockchain communication/content providers into the Ally app?
SP
Absolutely! We’ve got plans to build in a multi-currency wallet and we’re open to partnering with other blockchain communication technology in the future.
ICO & TOKEN SUPPLY
WC
When did Skrumble Network initially raise funds and how much was raised in total?
EL
Feb to May 2018: 20k ETH.
WC
What was the bonus for the seed and private sales and how long were they locked for?
SP
Private A was 20% and Private B was 12.5%, both with a 3 month lock period.
WC
What percentage of tokens were sold to the public?
SP
26% was allocated for the public.
WC
What is the current circulating supply of SKM and how much of the overall supply does Skrumble control?
SP
Please see —
WC
Did you run any sort of bounty or airdrop during your ICO or bootstrap users of Ally? If so, how many tokens were allocated to this?
SP
Yes, we did roughly about 200 ETH worth of SKM in airdrops.
EXCHANGES
WC
Where is the SKM token currently listed?
SP
SKM is currently listed on Gate.io, Huobi Korea, LBank, Hotbit, Coinbene, as well as some smaller, lesser-known exchanges.
WC
Do you have any other plans to list on additional exchanges in the short term?
SP
Absolutely! We will be listing in the very near future on ChainX, an emerging Korean crypto exchange. We are also working on plans to launch on other top-tier exchanges very soon!
WC
Nice, you must have some good hookups to swing that!
EL
You know it! Big shout outs to Wolf Crypto for that!
ROADMAP & FUTURE GROWTH
WC
Your roadmap mentions the Korean community, how has Skrumble been received there and are Koreans currently using the SKM token?
SL
1200 people in 1 month, second best launch in Huobi Korea’s still new history and that’s clearly a clear market for growth for us. Next up, ChainX.
WC
An intended figure of 2M users is stated in your roadmap by August of 2019. How close are you to this and how is such a large user base being created?
SP
After we hit 150k, we slowed down the marketing pipeline to focus on optimizing Ally, making it fully decentralized. With the release of Ally on mainnet, we’ve got a big marketing push in the works for late April, early May, including multiple user acquisition strategies.
WC
Outside of the upcoming mainnet what else is planned for the future of Skrumble Network?
EL
A dApp revolution. Partnerships. Lots of users on Ally. Global domination!
WC
What do you view as the potential barriers to the success of the project and have you encountered any thus far?
SP
To be totally honest, the bear market hurt us, as well as everyone else. We definitely scaled back our marketing efforts and user acquisition according to the market. However, our team’s development has always had a solid trajectory and we continue to meet those objectives.
DUE DILIGENCE CHECKS
WC
Treasury management is something that always come up due to the fact a lot of ICOs have proven themselves incapable of managing their funds. Considering you raised funds almost a year ago, how has Skrumble managed their treasury since raising, what is your monthly burn rate and how long is your current runway?
EL
We sold most of our ETH right away before the bear market, we have a solid 1–2 years without selling tokens to sustain the team.
WC
So you haven’t had to liquidate any team/foundation tokens for operational costs?
SP
We distribute according the the token economics document, our team is definitely holding for the long term.
WC
ADVISORS
10% of SKM tokens will be allocated to advisors, key influencers, and other community contributors. The lock up period is about 3-month to 6-month.
EARLY STAGE CONTRIBUTORS
20% of SKM created during the Contribution Period will be allocated to the early stage contributors. Any unallocated part will be reallocated to the foundation. The tokens will be distributed in 3 parts (1/3 for early contributors. The rest will be distributed over two months).
FOUNDATION
29% of SKM created during the Contribution Period will be allocated to a foundation for the purposes of ongoing management, talent acquisition, community contributions, development and stewardship of the SKM Network. The lock up period is 6-month and the vesting period is another 10 months (vesting 10%/month)
WC
Have you published any wallets of team or foundation tokens?
SP
No, due to security purposes.
WC
Which country was Skrumble Network founded in?
EL
Our global team spread out around the world with the token sale out Cayman Islands and the foundation out of Marshall Islands.
WC
Does Skrumble Network have a publicly available Github?
SP
We haven’t published any binary yet, however, we will be later this year.
Here’s a link to our current Github page —
WC
What about the team trying to raise $3–5M for a separate exchange project called GAX? How does that impact or alter focus on the current project?
I also read that Skrumble made $5M in revenue last year, is the company profitable?
EL
Skrumble is a private company that has been around since 2014 that incubated SKM. SKM has its own foundation. GAX is also a separate entity with its own team, But will partner with Skrumble and SKM.
WC
Maybe I’m missing something, but don’t think that was very clear out of the gates. The logo, branding, everything is identical. How is one to differentiate the two?
EL
Skrumble is an established blockchain and communication tech provider. SKM licensed the brand and tech to get going.
Here is Skrumble’s website —
WC
Skrumble using the same masthead for separate capital raises without clearly identifying who is doing what is shady. I would like to see a clear breakout of the Org Structure with who supports what, how the org breakdown works, etc. Is that something you all can provide?
EL
It’s actually not, each has its own team and some people work on multiple projects.
WC
The fact that Skrumble (be it the company, foundation, whatever) is going for a separate capital raise makes me think their focus is being drawn elsewhere. If they can’t clearly define their team by org, who reports to what function, etc. it makes me seem like they could continue spinning up additional subsidiaries and additional capital raises and not be forced to support their initial project. It’s a slippery slope. I’m not inferring that is what they are doing but I think we deserve more information on the breakdown of entities and who reports where.
SP
Listen, the market had a huge drop in the last 8 months, and we didn’t abandon Skrumble Network and Ally. In fact, we pushed our team harder so that when the market eventually goes back up, we have a bomb product and mainnet out! SKM is a project, and we’ve delivered on our goals.
EL
SKM is not Skrumble Technologies it is is s utility token project with a foundation. GAX is also a separate entity that has plans to do an sto with its own team.
As a holder of SKM you should feel good that SKM is backed by a real profitable company, not some sketchy random people in a basement with no tech team.
CLOSING THOUGHTS
WC
Alright guys, that a 3 hour AMA right there, getting close to the record! As a FYI Skrumble Network will also be holding another AMA on the 10th of April in CryptoSmart.
SP
We loved coming back into the group and hanging out for a few hours! Gif games on point guys!
SL
Thanks for having us!
EL
Thanks guys! Appreciate all your support!
Skrumble Network Resources
Website: https://skrumble.network/
Telegram: https://t.me/skrumble
Blog: https://skrumble.network/blog/
Whitepaper: https://skrumble.network/whitepapers/
Wolf Crypto Resources
Public Group: https://t.me/WolfCryptoPub
News Channel: https://t.me/WolfCryptoAnnounce
Twitter: https://twitter.com/WolfCryptoGroup
