So there we were: plucked out of the ocean, sipping warm coffee, blankets wrapped around our shoulders and flying the friendly skies toward home. The only thought plowing though our muddled minds... Rescued! ...then... Screech! Bam!! What was that? Next thing we know, we're shoved out the chopper door and back in the frigid sea, left to fend again for ourselves.
Yes friends, the results from the #EOSHackathon are in, and we're not among the chosen. Bummer.
What do you do when your rescue helicopter crashes? Well, if you're like us, you start swimming, and that's exactly what we're going to do.
I believe when the universe sends a setback your way, it means you've approached something wrongly, and our team has spent the last 24-hours re-evaluating our past choices.
The receptionist calculated that if she could say "ed-na" instead of "ad-ult ge-ne-tic ed-it-ing" when answering the phone it could save her over 10,000 hours of otherwise productive time over the course of her career (we're not sure we believe her calculations - but we get it that she likes the new name a whole lot more). So the re-branding of the project is on, and we're going forward with the name change.
The other place we concluded we went wrong was with our AGE Token.
We saw the token as a way for people who wanted get our service to help us build up capacity to serve them. It would have been convenient for us to know in advance how much DNA we would be processing on a daily basis, and having a token sale with no hard cap would have probably shown us just how much lab expansion we needed to build out.
The problem with this thinking (we think) is that the token was designed to serve us well, only marginally serve end users, and really didn't take into account much of what an investor would find attractive.
End users really don't need to buy a token to get a service. Just because part of the purchase price will be converted to #EOS to cover the cost of storage and processing on the blockchain. We can do that conversion process for them.
Investors don't really find a token with no hard-cap very attractive, especially one that is tied to a service that is getting less and less expensive by the day to deliver. They want things that are scarce, and getting more and more expensive by the day.
To that end, we've decided to drop the ERC20 token we had running on the Ethereum network, and prepare to be one of the first to offer an EOS Token sale contract to raise funding for lab expansion and marketing of our service. So please bear with us as we swim our way to shore - and stay tuned for the blowout beach party!
If you bought AGE Tokens - not to worry, the contract has a refund function built in which will trigger as soon as the sale time-frame completes. If you need help - please email me greg.simpson@adultgeneticediting.com and I'll be happy to walk you getting your ETH refunded.
The video I recently promised will be delayed a bit. But here's a spoiler - it's a walk though of the entire process of taking saliva, extracting the DNA, sequencing it and securing it and sending it to the EOS network. Since I had to delay it (I ran out of Nuclease-Free Water) I expect the EOS platform to be up and live by the time my water arrives. This should let me demo the entire process of getting DNA up and stored. I hope you like the sound of being able to see the whole thing run live.
As always, Grateful for your kind attention and support,
Greg