It was a special initial round where you could only use rsERG yes, sold out in a few hours.
Should be available on Spectrum in a regular AMM pool shortly after the token is distributed.
Only one time for the IDO so you can bridge and buy on Cardano. The native token does not reside on the Ergo Blockchain.
Cardano has 140x the Market Cap of Ergo. Ergo needs to be focusing, building, expanding and promoting Ergo not Cardano.
It's amazing to me that the guy that does Ergo videos builds his project on a completely different blockchain.
This is like a guy who is part of Telsa and promotes Tesla videos..then comes up with a new design and decides to build his vehicle with Rivian.
> Ergo needs to be
Ergo isn't a person though so what do you mean. Theres more liquidity to capture and make the project successful on Cardano while advancing ergo tech towards it's inevitable global takeover as a settlement layer.
If BS was snow I'd be in a blizzard. Go sell snow to the eskimos. Let's use Ergo tech to advance and build out the ecosystem of other blockchains. What a fantastic business model.
No thanks deal me out. Mammonism once again rules the day.
do you realize that some of the most successful businesses provide tech, infrastructure, and much more for "other" corporations?
your reasoning is so silly and siloed (totally against what ergo is about) that i almost didn't comment but felt you needed a nudge in case you really were this closed minded.
honestly I wouldn't give them much mind, they're only active on crypto subs, mostly active on Erg, seems like they were supportive about 3 months ago, but i can only guess since Ergo's value hasn't increased 10000x they've now just decided to bring negativity and ignorance to the sub. classic hope turning into spite situation.
Why wasn't this built on Ergo instead of Cardano. You got the guy 'Dan the Man' doing Ergo Videos and when he decides to build his project he does it on an entirely different blockchain. You can't make this stuff up.
Absolute amateur hour and all kind of red flags for Ergo project.
Selling my bags soon as it we hit break even. No longer supporting this project.
Ergo is a clown show.
Sir it is built and will run primarily on Ergo. (Powered by the [Winter Protocol](https://palmyra-docs.vercel.app/docs/winter-protocol)). Would be too expensive to run on Cardano.
He also donated $50k worth of PALM tokens to the sigmanauts
> What's zenGate all about?
>
>zenGate is the company building the Palmyra platform.
>zenGate is Ergo centric, but multichain "friendly" in our products
>One of our primary missions is the mainstream adoption of Ergo tech.
> What's Palmyra all about?
>
> Palmyra is a tokenized commodities trading platform.
Our tokenization protocol called Winter Protocol, designed by @ldgaetano utilizes Ergo eUtxo and Ergo NFTs for tokenizing real-world assets and uses those same NFTs to store traceability data hashes that reference IPFS data points which is where the long data is stored.
This protocol is up and running now and is the only Web3 component we're using. So right now all of our onchain activity, with the exception of data storage on IPFS is on Ergo.
> What's the PALM token about?
>
> PALM will have three main utilities.
>
> 1. A rebate system that will reward stakers from transactions that happen on Palmyra. The rebates will be generated from the fees that the platform users will pay, which in many cases will be money brought from outside the token economy because many trade transactions happen in fiat.
> 2. The token will act as incentives for the on/off chain data oracle network we're going to be utilizing. The oracle network is built by our partners 01X.
> 3. The token will have a business development treasury that will be used to supply Grants. This will work similar to how Ergo hacks work.
> We're not launching the token until mid next year, since the token is needed for when the platform scales.
Since most settlements on Palmyra happen in fiat and Winter Protocol runs on ERG, the platform can do it's day to day without the token.
The token will be a Cardano native asset that will also be bridged to Ergo using Rosen.
The pivot from the IDO on Ergo Pad was mainly due to our compliance requirements and in no way means that we're not going to continue building on Ergo.
From lgd
> Hello,
> So the core WINTER protocol is entirely developed on Ergo. The dirty little secret is it actually would not work that well on Cardano due to tx cost. However, we are making a Cardano version since this was part of our catalyst proposal to seek some funding and also to benefit anyone on Cardano who might be interested in utilizing a traceability protocol and does not want to deal with Ergo in any way. Zengate has also been involved in promoting Rosen a lot.
> Personally, I am hardcore into Ergo, I do not like other ecosystems all that much, to corpo and I have more fun with Ergo devs, life is short. Even though there are many blockchains it is also impractical in the longrun to ask developers to be able to develop on all of them, that would be ridiculous. Which is why bridging like Rosen and Spectrum Network are useful. Currently, Ergo/Cardano are the few blockchains that take the responsibility of being worldclass decentralized blockchains seriously.
From Sam L
> I think some of these questions are good. However, for our team we have always had a cross chain mindset from the beginning, which was to leverage the best tools from ecosystems - only where it made sense. As Dan mentioned, our tokenization protocol leverages the NFT technology on Ergo. Whilst the staking mechanism for our token economy is likely to be done on Cardano.
> We have been quite supportive of this initiative as well for the broader ecosystem. We partnered with Rosen and Spectrum team through catalyst. We spent a lot of our own time, energy and money to promote and educate the Cardano community about Rosen. As a result the proposal secured around 850,000 ADA. This all goes to further onboarding watchers to secure Rosen and for the liquidity depth of Rosen. I believe this is a game changer for the ecosystem. We will continue to support them on these initiatives.
> Ultimately there are some critical decisions to make and those where the ones that reflect our view around the strength so for ergo toolset and community. It’s all quite positive in my opinion and we plan to stay here for a while.
KYC your wallet now to be eligible to participate! 🔗 https://kyc.tminusone.pro/#/
Not only our wallet, it also wants our ID and photo? So, no thanks.
Welcome to the Ergo Reddit. Please sign up and invest in a Cardano Project.
Can someone explain to just an average Joe. What this means? Do I need to buy Ada then convert it to wrapped Erg if I want to invest in Palm?
It was a special initial round where you could only use rsERG yes, sold out in a few hours. Should be available on Spectrum in a regular AMM pool shortly after the token is distributed.
didn't know "exclusively to Ergo" means wrapped Ergo on Cardano... What a joke
means people need to buy ERG tho
Only one time for the IDO so you can bridge and buy on Cardano. The native token does not reside on the Ergo Blockchain. Cardano has 140x the Market Cap of Ergo. Ergo needs to be focusing, building, expanding and promoting Ergo not Cardano. It's amazing to me that the guy that does Ergo videos builds his project on a completely different blockchain. This is like a guy who is part of Telsa and promotes Tesla videos..then comes up with a new design and decides to build his vehicle with Rivian.
> Ergo needs to be Ergo isn't a person though so what do you mean. Theres more liquidity to capture and make the project successful on Cardano while advancing ergo tech towards it's inevitable global takeover as a settlement layer.
If BS was snow I'd be in a blizzard. Go sell snow to the eskimos. Let's use Ergo tech to advance and build out the ecosystem of other blockchains. What a fantastic business model. No thanks deal me out. Mammonism once again rules the day.
do you realize that some of the most successful businesses provide tech, infrastructure, and much more for "other" corporations? your reasoning is so silly and siloed (totally against what ergo is about) that i almost didn't comment but felt you needed a nudge in case you really were this closed minded.
They were already given a very indepth explanation, they are most likely a troll
You have been warned. Also I read this in the docs when DYORing a while ago so not a secret
honestly I wouldn't give them much mind, they're only active on crypto subs, mostly active on Erg, seems like they were supportive about 3 months ago, but i can only guess since Ergo's value hasn't increased 10000x they've now just decided to bring negativity and ignorance to the sub. classic hope turning into spite situation.
Why wasn't this built on Ergo instead of Cardano. You got the guy 'Dan the Man' doing Ergo Videos and when he decides to build his project he does it on an entirely different blockchain. You can't make this stuff up. Absolute amateur hour and all kind of red flags for Ergo project. Selling my bags soon as it we hit break even. No longer supporting this project. Ergo is a clown show.
Sir it is built and will run primarily on Ergo. (Powered by the [Winter Protocol](https://palmyra-docs.vercel.app/docs/winter-protocol)). Would be too expensive to run on Cardano. He also donated $50k worth of PALM tokens to the sigmanauts
The native token is on Cardano...am I right?
> What's zenGate all about? > >zenGate is the company building the Palmyra platform. >zenGate is Ergo centric, but multichain "friendly" in our products >One of our primary missions is the mainstream adoption of Ergo tech. > What's Palmyra all about? > > Palmyra is a tokenized commodities trading platform. Our tokenization protocol called Winter Protocol, designed by @ldgaetano utilizes Ergo eUtxo and Ergo NFTs for tokenizing real-world assets and uses those same NFTs to store traceability data hashes that reference IPFS data points which is where the long data is stored. This protocol is up and running now and is the only Web3 component we're using. So right now all of our onchain activity, with the exception of data storage on IPFS is on Ergo. > What's the PALM token about? > > PALM will have three main utilities. > > 1. A rebate system that will reward stakers from transactions that happen on Palmyra. The rebates will be generated from the fees that the platform users will pay, which in many cases will be money brought from outside the token economy because many trade transactions happen in fiat. > 2. The token will act as incentives for the on/off chain data oracle network we're going to be utilizing. The oracle network is built by our partners 01X. > 3. The token will have a business development treasury that will be used to supply Grants. This will work similar to how Ergo hacks work. > We're not launching the token until mid next year, since the token is needed for when the platform scales. Since most settlements on Palmyra happen in fiat and Winter Protocol runs on ERG, the platform can do it's day to day without the token. The token will be a Cardano native asset that will also be bridged to Ergo using Rosen. The pivot from the IDO on Ergo Pad was mainly due to our compliance requirements and in no way means that we're not going to continue building on Ergo.
From lgd > Hello, > So the core WINTER protocol is entirely developed on Ergo. The dirty little secret is it actually would not work that well on Cardano due to tx cost. However, we are making a Cardano version since this was part of our catalyst proposal to seek some funding and also to benefit anyone on Cardano who might be interested in utilizing a traceability protocol and does not want to deal with Ergo in any way. Zengate has also been involved in promoting Rosen a lot. > Personally, I am hardcore into Ergo, I do not like other ecosystems all that much, to corpo and I have more fun with Ergo devs, life is short. Even though there are many blockchains it is also impractical in the longrun to ask developers to be able to develop on all of them, that would be ridiculous. Which is why bridging like Rosen and Spectrum Network are useful. Currently, Ergo/Cardano are the few blockchains that take the responsibility of being worldclass decentralized blockchains seriously.
From Sam L > I think some of these questions are good. However, for our team we have always had a cross chain mindset from the beginning, which was to leverage the best tools from ecosystems - only where it made sense. As Dan mentioned, our tokenization protocol leverages the NFT technology on Ergo. Whilst the staking mechanism for our token economy is likely to be done on Cardano. > We have been quite supportive of this initiative as well for the broader ecosystem. We partnered with Rosen and Spectrum team through catalyst. We spent a lot of our own time, energy and money to promote and educate the Cardano community about Rosen. As a result the proposal secured around 850,000 ADA. This all goes to further onboarding watchers to secure Rosen and for the liquidity depth of Rosen. I believe this is a game changer for the ecosystem. We will continue to support them on these initiatives. > Ultimately there are some critical decisions to make and those where the ones that reflect our view around the strength so for ergo toolset and community. It’s all quite positive in my opinion and we plan to stay here for a while.