Dear Deru Community,
We are forced to pause development of Deru Truth Bonds due to a shortage of funds.
The last progress made was the release of an early Beta version here: http://jungle.deru.io/home
It’s running on the Jungle Classic chain. Here is a tutorial about how to create accounts in Jungle Classic: https://www.youtube.com/watch?v=6Yf-cHg4k90
In this beta version you can make promises, file claims against them, and the white listed arbitrators can rule on the claims. Some major functionality is still missing thought — the promises don’t expire as they should, and the UI is a bit rough.
We also made a verbal agreement with the great guys from EOS Metal to merge with their Tungsten project, which had the same goals and a very similar approach.
So that’s where we were.
In November, our vote rewards shrank to where we had to make trade offs and difficult decision how to spend our limited resources. We decided to improve our History Node and hope for a change of fortunes to continue Deru development.
Now, the CryptoLions history node is running from two powerful servers and a third is synchronizing. It runs the MongoDB plugin, and uses the popular Mongo API developed by our own Bohdan Kossak (https://github.com/CryptoLions/EOS-mongo-history-API). This proved a good use of our resources, as last month saw many history nodes crashing. We were able to pick up some of the slack. We’ve been getting steady periods of usage of 20-30 requests per second every day.
Our fortunes did indeed change with vote rewards, but then the price of EOS tanked.
Anyway, as I’ve said during interviews, Truth Bonds are not too hard to build. The bigger challenge is making them matter with community management and orchestrating an arbitration solution.
I’m sure that either we or someone else will launch such a project soon. If anybody is interested in funding the project, please let me know. We need about $20k to make an MLP (minimum lovable product) and give it a good push for lift off. Good times those were.
This isn’t much money – in fact it is about as much as CryptoLions donated to the EOS Community Conference in SEOUL back in July. So I’m confident that when our fortunes change, we’ll be back at it — unless someone else builds it first, which is also fine.
Deru is the prototypical DPOS project. It has no business model, but it was a platform on which other business models (arbitration as a service, escrow, letters of credit) could be built. If I were to launch it as a startup, I would try to make awesome interfaces that funnel people into my own arbitration forum (or into forums which pay a fee for work). The only thing stopping me is the opportunity cost of other projects and initiatives.
We’re still here, were still building, and still excited. Big things are coming.
all the best,