Introduction
ThreeFold Dubai and TFTech (our technology company) have put a lot of money and time into creating the technology and current version of the ThreeFold Grid. We are grateful for the support of the community, especially the farmers and, of course, our investors in TFTech who made it all possible.
We are personally proud of how far we have come and the capabilities of the technology stack created.
The last year has been quite challenging: our token price fell hard and our own sources of funding became much more limited. This didn’t allow us to execute fully on the plan we had in mind. We had to scale back a little and we have decided to focus fully on the further development of technology rather than commercialization or promotion, for which we don’t have the funds right now.
We got a lot of good feedback from the community – thank you – but of course also some complaints. Some people in the community believe that our system is still too centralized, which we do agree with. What is more worrisome is that some believe that maybe we don't have the best intentions at heart and that saddens us to hear this. The ThreeFold core team tries to be as transparent and fair as possible and is doing all it can to support the community. Our company ONLY got its funding from our investors, we did not sell any tokens.
One of our lowlights was around a solution provider called Foldit. While we are delighted that a community member created a User Interface on top of the TFGrid, we have been unable to help bring it alive. ThreeFold could not execute the Voting Request because we were lacking information and there were issues around legal responsibilities. We asked Foldit for more info to re-submit the vote. All we're asking for is clear information to be shared with the community, after which the DAO can decide. Despite investing a lot of time, we still haven't found an immediate solution. This issue has sparked intense debates.
To resolve the issues mentioned above, we believe that the following path is in the best interest of the community:
- Keep on innovating (e.g. we add GPU support for AI) in version 3.11.
- Deliver our version 3.50, which will be all focussed on decentralization and simplification.
- Carry on our parallel work on version 4.0, which has great new features for stabilizing our token as well as ultimate scalability, flexibility and new opportunities for our community.
- Establish ThreeFold Cloud, which will all be focussed on commercialization for our TFGrid 4.0.
- Conclude on our fundraising for TFTech and the new ThreeFold Cloud.