Folderlabs 2021 First Half Report
Folderlabs released Folder Protocol’s periodic report for the first half of 2021.
Half year report includes: roadmap, business performance, R&D development, global exposure, man of half year and token distributed & current supply.
The purpose of this report is to inform our community of the development results in first six months of the year. Your support has helped us to get where we are today.
Folder Protocol is layer-2 solution for decentralized storage. Currently IPFS is the main choice for many developers for the decentralized storage, however, it has several issues when user wants to move large data or need enterprise scale performance.
Folderlabs is committed to contributing to the society building enterprise scale decentralized storage solution and Folder Protocol ecosystem will offer additional guarantees of open governance, transparent storage infrastructure for any data.
3. BUSINESS PERFORMANCE
- Team building
- Roadmap update
- Build own Filecoin mining facility
- Listing at Bittrex exchange, a global top-tier exchange
- Development of FOLKEE, Folder’s NFT+ DeFi platform
4. R&D DEVELOPMENT
- Major technical update to the technology section of the current whitepaper
- Published several technical articles explaining the current issues facing IPFS, and Folder’s approach to enterprise level performance and latency for decentralized storage solutions.
- Discussed the technical vision of creating densely connected virtualized gateway networks as part of Folder Protocol solution to the decentralized solution
- Negotiating with several IPFS and ex-Filecoin engineers for potential fit and hiring opportunities to build Folder Protocol
- Discussion about partnership with Algorand and Dfinity, Director of Product and Partnerships.
5. GLOBAL EXPOSURE
5–1 PR Release
- Participants: Approx. 2,500 people
- Rewards: Approx. 30,000FOL (Distributed on July)
6. Man of the First Half Year
Nagu Thogiti (CTO)
Nagu is an innovative Analytics and Engineering leader with expertise in driving customer-focused product development, and he was one of the early developers of the IPFS dab ecosystem and supported many projects related to decentralized storage, and now he is performing a crucial role in the development of mutual technology partnership among L1 protocols and L2 decentralized storages for all those L1 protocols such as IPFS.
He is an expert in the field of MIT-accredited big data, AI blockchain, and artificial intelligence with more than 20 years of experience. Nagu has worked with AI teams on numerous blockchain projects as well as Google, Adobe, Amazon, Facebook, and IBM, and recently as a head of analytics at TeamViewer.
- University of Southern California
- PhD drop out, M.S in Applied Mathematics
- MIT Continuing professional education & certifications
- Indian Institute of Technology
- B.S in Civil Engineering
- TeamViewer — Head of Analytics
- Decentral — Partner, Product and Project Manager
- Programfy — Principal Architect
- Viking Cruises — Head of Analytics
7. Token Distributed & Current Supply
- Token distribution is held as it scheduled.
- Current supply: 11,000,000FOL
8. Plan for Second Half Year (July ~ December)
- Launch Decentralized storage for NFT data and metadata for the FOLKEE, NFT+DeFi Platform
- FOLKEE NFT platform 2nd Phase:
* Launch Folder staking algorithm and integrate it into the FOLKEE NFT platform for different staking rewards. This will potentially build new ways to create demand for FOL token by the users so that they can get annualized interest and other staking rewards.
* Integrate with other NFT blockchains (Binance, Polygon, etc.)
* Create more DeFi Products within the NFT platform
- Develop Affiliate partnership programs to promote and sell the Featured NFTs real estate on the FOLKEE NFT platform. This will create new value for Folder and potential revenue opportunities.
- Build strategic partnerships for business sustainability
- New exchanges listing
- For Core protocol developments, Folder Protocol will hire more engineers (development, R&D, security, and privacy engineers) to (1) create technical specifications documents (2) design and architectural document (3) Implementation towards a light beta. The scope will be highly dependent on how much funds are available, when they are available and how soon we can align the engineers to work on different aspects of the blockchain design and development tasks.