In this video we interviewed Zeus, founder of Ice Open Network (ION). We delve into the inspiration and drive behind their innovative 'Tap to Earn' and 'Tap to Mine' technology. Learn about Ice Blockc...
In this video we interviewed Zeus, founder of Ice Open Network (ION). We delve into the inspiration and drive behind their innovative 'Tap to Earn' and 'Tap to Mine' technology. Learn about Ice Blockchain's Layer 1 infrastructure and the user-friendly framework for building decentralized apps, aiming to empower micro-communities. Additionally, we discuss their scalable consensus model and the Hermetic Trading App. Big moves have been happening with the $ICE token including listing on tier-1 exchanges and Uniswap. Here's what you need to know.
Ice Open Network: https://ice.io/
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00:00 Introduction and Welcome
00:16 Inspiration Behind Ice Open Network
01:22 Expanding the Ecosystem
03:22 Layer One Infrastructure and Future Plans
12:02 Hermetic Trading App Launch
15:31 Conclusion and Final Thoughts
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AI Analysis
The Ice Open Network (ION) is embarking on ambitious new ventures, moving beyond its initial "tap-to-earn" concept to build a comprehensive Layer 1 blockchain ecosystem. Their goal is to empower a global user base by providing accessible tools for creating decentralized applications and fostering micro-communities, aiming for mass adoption rather than just financial innovation.
Here's a breakdown of the exciting developments at Ice Open Network:
* Inspiration and Tap-to-Earn Evolution: The core inspiration for Ice Open Network was to create technology that could reach everyone on Earth. They started with a "tap-to-earn" and "tap-to-mine" mobile app designed to handle hundreds of millions of users without issues. While mining for ICE tokens directly on the app has stopped, the technology proved so successful at attracting users that ION is now licensing it out to other projects. This allows external partners to launch their own branded tap-to-mine applications and build their tokens on ION's Layer 1 blockchain, leveraging what Zeus calls "viral marketing" to foster a sense of belonging among users, much like Bitcoin did in its early days. The aim is to onboard 50 million users across these partner applications by the mainnet launch in October. Zeus feels this approach recaptures Satoshi Nakamoto's original vision of widespread participation in mining, which was disrupted by specialized ASIC chips, by implementing security measures to prevent multiple people from mining on a single device.
* Layer 1 Infrastructure and Vision: ION's Layer 1 blockchain is a fork of The Open Network (TON) blockchain, chosen because it already had many features ION intended to build, avoiding the need to "reinvent the wheel." They are adding their own modifications and basing part of the protocol on Nostr, a decentralized social networking protocol promoted by Jack Dorsey. A significant part of their vision is a user-friendly UI framework that allows individuals without any coding or Web3 experience to build their own decentralized applications, such as social chats, wallets, and NFT platforms. This framework is cross-platform, working on mobile, desktop (Windows, Linux, Mac), and web. Zeus compares this to WordPress in 2003, which democratized website creation, emphasizing that ION aims to put the power back into the hands of the people. The community will be able to create templates for various applications, including e-commerce. This strategy aims to compete with tech giants like Meta and TikTok by fostering thousands of "micro-communities" rather than trying to build one monolithic application. Zeus believes it's much easier to onboard a large user base across 100,000 different applications, each with 10,000-100,000 users, than through a single app. A crucial feature is built-in interoperability, meaning different apps built on the network can communicate seamlessly, like chat apps allowing users to talk to each other without needing to download each other's specific application. The first version of this full framework is expected by the mainnet launch in October, with a public drag-and-drop builder coming a few months later.
* Scalability and Consensus: Scalability is a major concern for any blockchain, and ION addresses this with a design where adding more servers to the network makes it inherently faster, designed to onboard "the next billion users." Zeus says scalability isn't an issue, with the only potential bottleneck being a lack of people running nodes, which he believes will be solved as the user base grows. Their consensus model involves a main Layer 1 blockchain for smart contracts and important functions, but data for applications and protocols is handled off-chain by decentralized nodes. Crucially, each user has their own "chain" connected to a set of servers, and consensus is handled individually for that user. This gives users full control over their data, including the ability to move or delete it, which is essential for user adoption, especially with personal information. This user-centric consensus allows for very fast operations and is somewhat similar to sharding.
* ICE Token Utility and Milestones: To give the ICE token more utility and make it deflationary, ICE will be used within the new tap-to-mine applications for various benefits. All ICE used in this manner will be "melted" (burned), not flowing back to the project's funds. Upcoming milestones include the official announcement of the first major project, a large electronic music festival adopting ION's tap-to-mine technology. For those interested in joining the network, following ION on Twitter and Telegram is recommended for official announcements. A neat feature is that the Ice mobile app is also accessible directly within Telegram, allowing users to engage with the tap-to-mine functionality without downloading a separate third-party app, which Zeus appreciates for its convenience and reduced perceived security risk.
* Hermetic Trading App Launch: A surprising new development is the launch of the Hermetic Trading App. This trading bot was developed by ION's team developers over four years and has a remarkable track record of not losing money, even during significant market crashes like Bitcoin's 50% overnight drop. It's being released as a mobile app, making this powerful algorithmic trading tool accessible to the public. The bot is non-custodial, meaning users create a sub-account on their Binance exchange, and the bot only has trading access, not withdrawal capabilities. The fee structure is particularly appealing: no monthly payments, only a 20% success fee on profits generated after a month. If the bot doesn't make a profit, there's no fee. In a powerful move for the ICE token, 50% of these success fees will be used to buy and "melt" (burn) ICE from the market, further contributing to its deflationary mechanism. The bot employs multiple backend strategies but simplifies the user experience by automatically deploying the "safest" strategy to minimize risk. While it might not deliver 10x returns, it aims for stable income (e.g., 50-150% annually). Zeus is confident in its scalability, having tested it successfully with $20 million in assets across various trading pairs, which helps mitigate issues like slippage that can arise from a large number of users on a single trading strategy.
Overall, Ice Open Network is positioning itself as a platform that prioritizes user accessibility and empowers community-driven growth through innovative technology and a unique approach to mass adoption in the Web3 space.
Transcript
Hey guys and welcome back to VoxFinding. Today we have a very exciting interview with Zeus from the Open Network. Hi Zeus, how's it going? Hi Michael, nice to meet you. I can tell by your energy you're really, really excited. For people to see what Open Network is and to see what's going on. So let's go back to some of the basics. What's kind of your inspiration and drive behind everything here? The inspiration that made me start the project was to build something that could get into the hands ...
Hey guys and welcome back to VoxFinding. Today we have a very exciting interview with Zeus from the Open Network. Hi Zeus, how's it going? Hi Michael, nice to meet you. I can tell by your energy you're really, really excited. For people to see what Open Network is and to see what's going on. So let's go back to some of the basics. What's kind of your inspiration and drive behind everything here? The inspiration that made me start the project was to build something that could get into the hands of all the people on earth. So basically we build a tap-to-earn, tap-to-mine technology that can handle hundreds of millions of users without any issue. The app has evolved a lot since our early stages. We've added a lot of new functionalities, gamifications and so on. Now, in December we announced that we're going to stop the mining and we're going to do a Uniswap listing. And that's when we also got contacted by a lot of exchanges and we also did listings on KX, KuCoin, Gates and so on. It was a successful launch for us and we launched our testnet in March. And we saw an opportunity with the technology that we built that it was attracting a lot of users. And we've also launched a startup program on which we already signed with some really good products to be launched under our ecosystem. The first project was announced last week. It's about a festival, one of the biggest electronic music festivals in the world. We're going to adopt our tap-to-mine technology, which means they will have their own mobile apps and so on, where people could start mining their coins. And also deploy their token under our layer one blockchain. We are starting with the user base as we have our mainnet launch in October this year. So by the time we have the mainnet launch, we have our target to reach about 50 million users within all the tap-to-mine applications that are going to be launched under our ecosystem. So it's kind of interesting origins because you started off with the concept of tap-to-earn, but you actually found that this is a very useful strategy for other projects too. Right. So right now it's no longer possible to mine on ice, but you're actually allowing your ecosystem, you're kind of licensing technology out to your ecosystem to mine. Exactly. Because we tested it on ourselves, you know, and we saw the potential. So why not give it to the others that are going to be launched under our ecosystem? So yeah, it's viral marketing, right? It allows people to participate and it makes people feel like they belong to something, which is what really Bitcoin did, right? Well, if you remember in the early days when Satoshi Nakamoto created Bitcoin, his vision was everybody with a desktop device, yeah, with a PC to be able to earn. But later on, people started building those ASIC chips and so on. So basically his vision was kind of destroyed, you know, but with this technology that we build and also we have built security measures inside. So no more than one real person can mine on a single device. Can you tell me a little bit about your layer one as well? So we are a fork of the open network of the Tone blockchain. We've chosen to fork Tone because it already had a lot of features that we were planning to build. So there was no point in reinventing the wheel. Of course, there are also some modifications that we are adding to it as well. Part of a protocol that is based on the Noster, the one that Jack Dorsey, the CEO of Twitter, was promoting it. We are also building a framework on which everybody can run distributed nodes across the world. And also we're building a UI framework where users without any experience in coding our Web3 can build their own apps like social chats, wallets, NFTs and so on. Basically, everything is cross-platform. So it works on mobile, on desktop devices like Windows, Linux, Mac and also web as well. So imagine what WordPress did in 2003, right? When they brought the CMS for everybody to be able to choose a template and create their own blogs, website and so on. So this is our vision for what we are trying to do with ION. Basically, we want to give the power in the hands of the people. The community will be able to create templates. Users can choose what templates they want to build. Let's say even e-commerce will be able to build. We are also supporting e-commerce as well for the protocol. So everything that you want to do, you can build it within the protocol, which is built within the whole network. We had a struggle competing nowadays with big corporations, you know, Meta, TikTok and so on. It's like impossible. But if we do it differently, if we build a framework where, let's say you have 10,000 applications, each with 10,000 users, 100,000 users and so on. Then you can compete at a network level with big corporations as well, you know. Because everybody is trying to build the next big thing, you know. We are trying to actually make it for everybody to build their own micro communities, you know. We call them micro communities. So this is much easier to gather large user base on 100,000 different applications than one application, you know. And the nice part with all this protocol that we are building is that it has interoperability by default. It supports interoperability. So basically, everybody can communicate with each other through different apps. So imagine having you have a chat app, I have another chat app, we can talk to each other without you having to download my app, you know. This is how everything should work within the internet, you know. You should never be forced to install a specific application. But if the protocol supports it, you should be able to communicate, transmit data and so on over multiple applications. So let's say, for example, I opened the box mining coffee shop. And then you have the Zeus lightning bolt swords, okay. Then we can probably swap coffee for swords or something like that, right? Yeah. And be able to communicate. That's actually a very interesting vision because not many people are building these kind of drag and drop that builders, like, for this ecosystem. When do you expect this to be out? Like, what's the timeline for everything like this? So the first version of the full framework, yeah, with the support and everything we expect it to be by the minute launch, which is scheduled for October this year. Probably is going to take a few more months until we're going to release it to public. But the application that we are going to launch on October is going to contain all the framework that it needs for the drag and drop. So developers can get early access to it and then eventually the drag and drop for public ecosystem. That's going to be out a few months after that. Exactly. Got it. Right now, let's say, for example, you designed all this. You have the division of everyone being able to build your micro communities. Obviously, scalability comes into mind because we've seen with the growth of Ethereum, things got expensive very fast. So what are your scaling plans? So this part with the data storage and accessibility of it, writing data in a decentralized environment, having to have a consensus between the nodes and so on. So basically, our network is designed in such a way that the more servers are being added to the network, the faster it's going to work. So scalability, it's not an issue for the way we design it. And it's designed to onboard the next billion users without any issue. The only issue that it will always be the lack of resources. But, you know, if you have user base, then there's going to be people running nodes as well. So I don't see this as an issue. So how does consensus work like that? We have the layer one blockchain, which we do some important things on smart contracts and so on. But we have this part with the decentralized nodes where the data is kept up for the protocols for the framework. These are called off-chain. So basically, they are not going through the blockchain. Each user has their own chain. So each user is connected to a certain amount of servers and the consensus is being done only for him. So basically, the user can choose if he wants to move his data from a node to another node, if he wants to delete his data and so on. Because in order to have adoption, you need to give this freedom to the people. Because if you are playing with personal details like profiles on social posts and so on, you need to also have this flexibility of deleting data and so on. So basically, each user has its own consensus, which means that it's working very, very fast by default. So it's okay. So it's a one main chain, but then every user has its own kind of instance. It's almost like sharding, right? Yeah. Yeah. Something similar to sharding. Yeah. Yeah. Got it. Okay. So last thing I want to say. So it's a very different concept, I think, versus everything else. Because everyone else is thinking of, oh, let's just make DeFi happen and solve a big financial problem. I see what you guys are doing with ION as you're trying to really make it so it's really got a mass appeal and really leverage the tap to earn kind of mechanism or tap to mine mechanism. So what kind of milestones and what are you expecting soon? We expect in the next couple of weeks to announce officially the first project, which is the festival that is going to launch their tap to mine application. We're also going to announce some of the changes that we've done in the past few months on the tap to mine technology since we stopped it for ICE. We've also implemented ICE within the tap to mine application. So basically, we'll be able to burn ICE in order to get certain benefits within the app. So all the ICE used within the app is going to be burned and not going to our funds or whatever. This is the device a bit more utility and to make it deflationary because we have a vision. We also have a lot of features in the mainnet as well to make it deflationary. I find ICE melts, not burn. It's going to melt. So you have an ICE sublimation or burning mechanism. Sorry, I'm geeking out with science. But okay, so you're adding more utility use cases and then the projects and of course the mainnet launch coming. Is there any good call to actions? So any users watching now, what can they do to be part of this network? If they want to be part of the network, they can follow us on Twitter and Telegram and wait for official announcements on the new projects. There is also another update which we've made the mobile app available also on Telegram. So basically Telegram users can engage with the Tap to Mind from within their Telegram app without having to download the third-party application. They can download the app. They can use the web version. They can use the Telegram version and so on. So everybody can choose. That's much cleaner as well because I hate installing things. I mean, especially because we're in Web3. Installing things, it's like a virus risk or whatever. So just being able to play around with them on Telegram, that's really exciting. I'll share that link. So by the time that this video is released, I'm very sure that everything is operational. So I'll share that link on the bottom as well. So recently, the most exciting thing this week is that you launched the Hermetic Trading App. That's a good question. The Hermetic Trading App is a technology that's been developed by developers that were working on our team four years ago. We are using their technology for the past four years and it's been successfully trading without losing any money. We've had even the last bear market with 50% of Bitcoin crashing overnight. It handled it properly and so on. So after the discussion with our devs and everything, we managed to change their mind. And they are almost ready with making this as a mobile app. I think it's a user interface for everybody to be able to start using the trading bot. So basically, it's quite simple. You download the app, you create a sub-account on your Binance account. The bot does not have any access to with or the funds and anything. The moment you start, you have one month until you will be asked to pay for the success fee. We do not charge payment monthly because we are so confident in what the bot is doing and how good it works. We only work with the success. So basically, there is a 20% success rate, but from which 50% of it is going to be used to burn ice from the market. So it's a powerful trading bot that you've already used. And then when you use it, it's non-custodial. So you don't have to send the funds to the bot, but rather you give it access to a Binance sub-account. And then the bot manages the funds and starts trading automatically. And in terms of payment and fees, it occurs after a month. And then it's 20% off the money that it generates. So if it makes a profit, it'll take 20%. If it doesn't make anything, then it doesn't take anything. If it makes $100, there is a $20. All right, there you go. Done. Easy, easy. Easy to understand model. Cool. That's really exciting. And I really want to play with that too, because using algorithmic trading is actually very, very powerful, especially in the market nowadays. How many different strategies does that have? Does it have one main core strategy or does it have different strategies? We have different strategies in the backend, but we made it in such a way that we do not give the user access to choose strategies. Basically, we are always playing the safest strategy in order to minimize the risk. We didn't lose any money in the past four years, so everything is working very good. Of course, there are years when you are doing like 50% per year, but there are years when you are doing 150% per year. But this is not for those that are looking for 10x in crypto, but for those that are looking for stable income, this is a really good option. And last thing is, you're asking a lot of the general public to join. And something I've seen with trading strategies is that the more people that join a particular strategy, the less successful it is because other people start kind of realizing what the strategy is doing. Or the orders are so large that it causes a lot of slippage. How will you deal with that? We are resolving this by doing trades on multiple pairs. So basically, you don't have only Bitcoin or Ethereum or whatever. So there are a lot more. We've done tests so far with 20 million under assets and everything works okay. So we didn't saw any differences from 1 to 20. So we don't expect to have any more differences from here going up. I would love to visit how that works in the future as well. So really excited to see that happen. So thank you, Zou, so much for coming on and talking and sharing about what's happening. I definitely like a different approach and I hope things go really well. Thank you, Michael, for having me. Nice to meet you and all the best. Nice.
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