SERO Foundation’s First Important Public Affairs Disclosure Announcement
SERO Foundation Working Principles: Democracy, Transparency, Trust
Dear SERO Community. Here , we officially release the SERO Foundation’s first important public disclosure information.
In the future, the SERO Foundation will practice open and transparent working principles and invite the community to supervise, actively participate in and contribute to the development of the foundation and other work.
Foundation Structure
The SERO Foundation is a non-profit legal entity registered in Singapore called “SERO FINTECH FOUNDATION LTD.” , which was established to promote the ecological development of the SERO public chain. The development and construction and community governance transparency advocacy work, hereinafter referred to as the SERO Foundation.
The current staff of the Foundation mainly include Robert Bao, Durant Duan, Jason Pope and Gordon T., who were early founders of the SERO project and most of whom are members of the private company SERO MATTER PTE.LTD.
The company will now recruit more members from the SERO community to work on the SERO Foundation, including decision-making and leading on important issues in the project development process.
After the Pullup Decentralized Light Wallet introduces the community voting function, the Foundation will promote some important matters to make decisions through community voting, including but not limited to:
- The Foundation’s large amount of token spending
- Ecological project investment
- Third-party marketing activities and cooperation
- Community and global outreach efforts
- A list of community members who work for the Foundation for SERO MATTER PTE.LTD.
- Exchange cooperation, etc.
SERO Circulation Overview
As of 2019.8.29 13:00, the total circulation of SERO: 150,653,645 , including:
- The institutional financing share of 48,000,000, the unlocked part contains 20% (9,600,000, unlocked before 209.6.30), and 1/12 (6,400,000) of each of the remaining unlocked in July and August, for a total of 16,000,000;
- Gate Startup IEO : 46,000,000
- The remaining financing donations: 6,000,000 (the project team and the early investment institutions have repurchased and donated to the foundation)
- Mining output: about 78,803,240
- Team released the unlocked portion: 3,850,405 (participating in PoS)
Remarks
- The current coinburn mechanisms of PoW and PoS have destroyed: 30,646,154 SERO
- The total amount of institutional financing locks is 32,000,000 SERO and the lock contract is:
2BTxsNcruqBksd46eBWgMds9Etr9mZ8yqj15p8mSm958hx2KMgQZW2kdfi9Yz92m7EM9aM2zLLfrAVrbtSQTLzqc , the lockout period is 2019.9.1–2019.9.3
(Remarks: The Foundation is about to launch a community decentralized vote to decide whether to participate in the PoS, PoS Output Donation Foundation for SERO global ecological promotion activities and other expenditures;)
- Since the mainnet launch on January 7, 2019, the team has released a total of 9,850,405 SERO (1/8 of the mining output). Currently, it has 6,000,000 SERO locked in the contract. The contract address is:
3hANf5idzFiHrH6ynvDdzK9HnmXhsPCGrEXz9scs96R5Rq5kTHnTvd9Tt22SnSjvQcXgrGfxar4TSSdFycCQZaEW
- The remaining unlocked portion of the team’s share (3,850,405) entered the PoS equity pool and the PoS revenue portion was used for project operating cost expenses.
Foundation Received Donation and Expenditure Report
Currently, the Foundation’s financial disclosure information mainly includes SERO and SERO community contribution coins (THE_CONTRIBUTE_CERTIFICATE) based on SERO .
SERO
As of August 2019, the number of SERO coins that SERO Foundation received through community donation are as follows:
- Community and project team donations: 20,000 SERO
- The project team and early investment institutions repurchased and donated to the foundation from the market: 8,000,000 SERO
- SERO awarded by the exchanges: 59,482 SERO
- Contribution coin received via SERO’s PoS income: 3,555 SERO
Total:8,083,037 SERO
As of August 2019, the foundation’s SERO expenditure information is as follows:
- Participate in the Beta network mining airdrop: 1,000,000 SERO
- Community Photo Contest Awards in October, 2018: 10,000 SERO
- Offline activities and roadshows : 300,000 SERO
- Community work incentives such as white paper translation: 100,000 SERO
- Flight Light Wallet Airdrop: 169,694 SERO
- DERO community exchange event: 2,000,000 SERO (this part of the Dero currency has been circulated in the market and donated to the project team for operating expenses)
- Project evaluation rating: 126,000 SERO
- In May 2019, community P Map and other activities donated: 10,000 SERO
- July 2019, main network commemorative T-shirt (500 pieces) production and logistics costs: 19,386 SERO
- Exchange listing and activities: 3,200,000 SERO
- Other community activity expenses: 1,000,000 SERO
Total:7,935,080 SERO
Community Contribution Coin (THE_CONTRIBUTE_CERTIFICATE)
As of August 2019, the fund community contribution currency exchange information is as follows:
Total supply: 1 million
Expenditure:
- Given back to the community as donation money: 1,700
- Flight Wallet Airdrop: 3,660
- Flight Wallet Exchange: 1,190
Total:17,261
Income:
Exchange T-shirt: 3,200
SERO Foundation Account Balance
Community Contribution Coin (THE_CONTRIBUTE_CERTIFICATE): 985,939
SERO: 147,957
Foundation Work Summary and Plan
Under the auspices of the Foundation, the 25 exchanges that SERO has partnered include:
Exchange Name
During the period of 2019.6–2019.8, SERO technology advances include:
- SERO Main Network: A total of 17 versions of the total number of 149 code submissions from BetaNet-R7.1-Hotfix.1 to MAINNET-V1.0.0-RC8
- This includes the release of the official version of MAINNET V1.0, the official release of the Staking and StakingNode mechanisms
- PoW mining based on ProgPoW algorithm GPU is lauched
- SERO’s PC Full-Node Wallet released two new versions, 0.1.6 and 0.1.7
- On July 22nd, SERO released a new Decentralised PC Light Wallet called Pullup, and released a total of 8 versions of the update, the wallet directly supports PoS participation
- In August, the new version of SERO’s Pullup PC light wallet supports smart contract calls and is launched on the DApp application market portal, which can be accessed by third-party DApps
- In August, the technical white paper version 2.0 was released
- The SERO block explorer currently supports existing circulation supply queries and also shows daily/total coins burned
- Provides a complete wallet and exchange listing API
During the period of 2019.6–2019.8, the SERO ecological progress includes:
- Since the launch of the Staking mechanism, a total of 27 StakingNodes have completed registration and maintained network services
- As of 2019.8.26, a total of nearly 70 million SERO participated in Staking
- There are currently 59 tokens issued based on SERO
- During this period, F2Pool, Bee Mine Pool, Shanshui Capital, HyperPay, CMC, MinerOS, BeeStore, Wanwei Chain and other institutions and platforms have become the strategic partners of SERO
- The number of SERO ecological projects currently known to be in contact with the SERO Foundation for support or cooperation has reached 12
The next steps in the work of SERO technology are now included:
- Real-time transaction verification based on Layer network, storage, encryption calculation, Oracles and other functions
- The world’s first mobile-centric decentralized wallet based on zero-knowledge proof privacy chain
- Cross-chain technology based on SERO network
- A stable currency distribution platform with privacy features
- Optimization of ecological products including wallets, browsers and official websites
Official links
Official website : https://sero.cash
Tencent : https://v.qq.com/x/page/s0792e921ok.html
YouTube : https://youtu.be/UNG2boG49Io
Twitter : https://twitter.com/SEROdotCASH
Medium : https://medium.com/@SERO.CASH
Github : https://github.com/sero-cash
Reddit : https://www.reddit.com/user/SEROofficial
BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=5123382.0
Linkedin :https://www.linkedin.com/company/sero-global-inc/
Facebook : https://www.facebook.com/SEROProtocol
Gitter Community : https://gitter.im/sero-cash/Lobby?utm_source=share-link&utm_medium=link&utm_campaign=share-link
SERO VS Zcash encryption speed comparison :https://www.youtube.com/watch?v=bc6yHTLSl5M
Telegram Community
Chinese group : https://t.me/SeroOfficialChs
English group : https://t.me/SeroOfficial
SERO Announcement : https://t.me/SEROannouncements
SERO Official Technical Support : https://t.me/SeroFans
