I just went through the AMA answers. Did I understand it correctly that they will have two separate blockchains/tokens. One on the Ethereum blockchain and another blockchain, the so-called CovaChain to store data? So I assume all the token holders of ERC-20 COVA tokens will get coins on the CovaChain, too?
Yes and in addition to that they seem to cover everywhere aside medicals with their blockchain technology proving for the technology to have really a wide use cases Yes plus going ERC 20 is the only way they will be able to trade quickly; I don't it is wise waiting until the blockchain is ready along with the wallet. So it makes sense having the ERC20 Well, they are not replacing the ERC-20 token and are not only have it as a placeholder until the CovaChain is ready. In the end, we will have both, the ERC20 Cova token and the token on the CovaChain. And both will be tradeable (I guess). |
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I just went through the AMA answers. Did I understand it correctly that they will have two separate blockchains/tokens. One on the Ethereum blockchain and another blockchain, the so-called CovaChain to store data? So I assume all the token holders of ERC-20 COVA tokens will get coins on the CovaChain, too?
Not sure how that may work but i guess having the ERC-20 Cova tokens will automatically grant the holder the required access to utilize the facility that's available as a Cova investor, i'm really interested to see how this turns out and it will be lovely if we can get like a team member giving us some clarification on aspects such as this Yeah, there are still a lot of open questions. Like what will be the exact utilities of the token on Ethereum and the coin on the CovaChain? I hope they will release a separate article about this topic soon. |
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They both were in the same event I think two weeks ago? well the event was hosted by Bitmax and I think that could have lead to this. Bitmax has a decent volume with the models recently introduced (trans-fee and reverse mining) we could see bitmax somewhere soon and cova to jump in now could benefit from this uprising. Another exchange would be really nice news. I know a listing is not officially confirmed but for me, a partnership with an exchange means an upcoming listing pretty surely. |
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I just went through the AMA answers. Did I understand it correctly that they will have two separate blockchains/tokens. One on the Ethereum blockchain and another blockchain, the so-called CovaChain to store data? So I assume all the token holders of ERC-20 COVA tokens will get coins on the CovaChain, too?
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Thanks for sharing. I think they choose the best question that helps everyone to know Morse about COVA project. The team is being transparent about a lot of information and its good for a long term project like Covalent. Congrats to the winners. Hope to see more AMA from Cova team. Does anyone of you guys know if there will be another AMA from Cova soon? I missed to submit my question(s) and the possibility to win tokens just by asking questions sounds almost too good to be true. |
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I think it is more than just weak hands; I think the market is not able to recover because it is exchausted. I think it needs time for it to recover again; so project should be self sustainable now.
Now, during this long bear market, it will be really important that projects be economical with their funds. Only the best projects with a convincing idea and a strong team will survive this bear market. I am on Icobench every other days, the amount of ICO project coming out these days is drastically reduced, projects are no more economical, they are actually afraid to go on with fundraising Yes, projects don't raise that much anymore nowadays. But that's not really what I meant. I was talking about projects that already finished their ICO for quite some time. These are the projects that now need to come up with a plan on how to generate income because (maybe) they spent their ICO funds. |
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Can anyone sum up in a short manner the current state of the project? Is the tokensale still running? When will it be finished?
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I dont know even in current conditions investing from fiat is still the same as always and theirs more chance of an upside because the fact things are so cheap and low
True that, the current price of some of the most popular coins are very low compared to where they were few months ago, one can simply take advantage of that. Then I guess for investing in ICO FIAT option also would be great. Hope so Cova will keep the FIAT option whenever they will start sale. It has been stated already here in the thread that there are no plans so far by team to make a public sale at all. |
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Bitcoin has joined another class of superiority after becoming sound money or store or store of value and digital gold. That is going to become a thing of elite and institutional leveled player. There will be huge market for retail investors and traders under alternative coins. This is what UTruts is going to tackle and conquer and all preparation is in this direction.
Most crypto enthusiasts had high hopes for this project and I think its worth it. Hopefully we see some concrete results of the development in the next few months.  Been following their telegram and news. I agree that the developers are actively fulfilling their roadmap though we have not heard about the approval of e-license that is announced that the result will be this last quarter of the year. Either way, I am looking forward to the release of the platform this first quarter of 2019. I think with launching the platform according to roadmap a great milestone of development is achieved, and we can't blame them if they don't get the e-licence still in this year. I guess they did their best but now are dependent on others. I guess each project has its own setbacks and UTRUST is not an exception but the most important thing is that the team always strive and work hard to have a successful project completion and that is what makes them gain more supporters than ever. Imho. I wouldn't blame UTrust for the current situation. As you said, each project has its setbacks and in the case of UTrust I guess it's mostly caused by the overall situation that they crypto market is in now at the moment. They are very active and keep the community updated, so once the crypto market starts to recover, I am sure we will see growth for UTrust, too. |
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If someone decide to do an STO it means that is going to do it with full compliace, since by definition is a registered token offering. Like we see in these days with STOs on Swarm
Is Swarm another STO platform? Basically yes, it's a STOs platform, with voting on chain as well and masternodes. There are several STOs already but only one was very successfull so far (go to their website to know which one) Interesting. I did not know that there are already working competitors for DUSK. That will make it even harder to get a share of the STO market. Actually yes and there is more than one. Seems lots of team discovered there is a hole in this area and trying to fill it with their projects. I checked some and must say Dusk Network seems way better compared to them. Sure, once people realize that there is a niche where money can be made, new projects will emerge. Has any of the competitors of DUSK already a working platform? |
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How is Presale going on? Is there any info available on how much amount is raised so far?
That's a good question. But since they don't have a softcap that needs to be reached, I don't think it's that important to always know how much has been raised already. |
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I think it is more than just weak hands; I think the market is not able to recover because it is exchausted. I think it needs time for it to recover again; so project should be self sustainable now.
Now, during this long bear market, it will be really important that projects be economical with their funds. Only the best projects with a convincing idea and a strong team will survive this bear market. Agree, This is really now a survival of the fittest plus it's on bear market now. Those project that have a low and not good idea will going to be leave behind by those project who have a great way of showing their ideas. True but I also think projects should shift focus to getting paying customers; I know without funds it is impossible but what I have seen many do; they try to get everything in place and not get the customers. It is like they try to perfect everything first. You're right. Projects need to find a way to generate income. How exactly will Cova monetize their idea/protocol? I haven't seen anything about this on their website. |
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The first time I see such a simple and open communication in the project.It is very nice and inspires confidence.
Yeah, it's great that Chris is so actively posting here in this thread. That's something I wish from other projects aswell. |
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I think it is more than just weak hands; I think the market is not able to recover because it is exchausted. I think it needs time for it to recover again; so project should be self sustainable now.
Now, during this long bear market, it will be really important that projects be economical with their funds. Only the best projects with a convincing idea and a strong team will survive this bear market. I think that's clear enough for project teams to understand the basics of economics when it comes to spending in this critical period, they should focus more on creating value around the brand by implementing essential parts of the brand, its really needed, as that will give the community the feeling that the brand is alive and well, which is what cova is doing Yeah, it should be clear for projects during this time that they have to spend their funds wisely but apparently, there are already projects failing to do so. For example, SirinLabs (the ICO that had Leo Messi as their marketing ambassador) which raised more than 158 million USD and now only got enough funds left for 6-12 more months of operations. |
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I think it is more than just weak hands; I think the market is not able to recover because it is exchausted. I think it needs time for it to recover again; so project should be self sustainable now.
Now, during this long bear market, it will be really important that projects be economical with their funds. Only the best projects with a convincing idea and a strong team will survive this bear market. |
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From their token metrics, I understand that they will have their own blockchain with block rewards. Does anyone know when they will release that mainnet? And will they make a swap from ERC20 to the native token of their blockchain?
I believe they stated something about updates coming up soon, probably in a couple of weeks or months we will get to know when they will have their mainnaet released to the public, due to the fact that the project is a huge one, i think they will want to swap from ethereum network to their own blockchain, i maybe wrong though but only time will tell I am eagerly waiting for news about this topic. It isn't even clear which consensus algorithm their blockchain will use, or did I miss this information? |
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From their token metrics, I understand that they will have their own blockchain with block rewards. Does anyone know when they will release that mainnet? And will they make a swap from ERC20 to the native token of their blockchain?
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A couple of new announcements from Covalent team, most of which I find exciting and a relief to much asked questions like the tokenomics. The on a popular ICO review website, ICODROPS, you can find details of COVA tokens. Also, No Public Sales. Really?
Yes, that's correct. They don't have plans to hold a public sale due to regulatory concerns. The only way now to get tokens is to buy them on Huobi once COVA got listed there. Because both the Airdrop and the private sale are already over and the only other way you could've gotten tokens was when voting for Cova to get listed on Huobi. Nice update, but selling the token through the Huobi exchange, how will it be done? Will it be sold through COVA's own personal account? Seeing that there is no public ssle and it's not logical that people who acquired through private sale will sell this early. They are not selling tokens through Huobi! The tokens you'll be able to buy there are from private-sale or airdrop participants or from people who got them for voting. The team is NOT selling their devs token on Huobi. Now, this is confusing, definitely, the team must have had a certain percentage of token up for sale, let us say they managed to sell all of it during the private sale, what is the guarantee that those who bought during private sale will be willing to sell off so soon? You can find the number of tokens they sold in the private sale here ( https://medium.com/@covatoken/cova-token-metrics-992a4de20755). And about your concerns that people might not be willing to sell their tokens 'so soon' .... then the price they got offered for their tokens is probably to low. You can transfer this 'problem' you are worried about to any other token sale. But the fact is that most people are in for a quick profit, so they bought the tokens to sell them for profit, not to hold them forever. |
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A couple of new announcements from Covalent team, most of which I find exciting and a relief to much asked questions like the tokenomics. The on a popular ICO review website, ICODROPS, you can find details of COVA tokens. Also, No Public Sales. Really?
Yes, that's correct. They don't have plans to hold a public sale due to regulatory concerns. The only way now to get tokens is to buy them on Huobi once COVA got listed there. Because both the Airdrop and the private sale are already over and the only other way you could've gotten tokens was when voting for Cova to get listed on Huobi. Nice update, but selling the token through the Huobi exchange, how will it be done? Will it be sold through COVA's own personal account? Seeing that there is no public ssle and it's not logical that people who acquired through private sale will sell this early. They are not selling tokens through Huobi! The tokens you'll be able to buy there are from private-sale or airdrop participants or from people who got them for voting. The team is NOT selling their devs token on Huobi. there really was a misunderstanding for a long time, which tokens are now sold on Huobi. I also thought for a long time that Cova would sell the tokens for public sale via Huobi. But unfortunately this is not the case. I hope that some will sell their private sale tokens, because I really want to have some. You think it's bad that the team doesn't 'dump' their tokens on Huobi? If you ask me, it's great that they are not selling their tokens. They have gotten a sufficient amount of money in the private sale to fund the development and they don't rely on additional funding at the moment. So that they hold their tokens just shows that they believe in their project and do not only sell them for a quick profit. |
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