Who is CR’s Newest Council Candidate, CR Frigate?

By Kenneth K.

– Due to personal reasons Charles has moved to the back-end and could not be one of the public faces of our team.

– We have an addition to the team, KK Chen:
“Trained in Finance and Information Systems, KK has founded his own software company, offering solutions to clients including Fortune 50 companies. He separately founded a popular e-commerce solution company and a blockchain media, blockspaper.com. Multiple international hackathons’ awardees.”

CR Frigate is the newest CR Council Candidate. They are focused on building business verticals, with an emphasis on businesses in China, Hong Kong, Singapore, and Korea, with Europe being another major target.

CR Frigate is a team that is well-connected. With their networks, they believe that they can succeed where others are not.

Amongst the team members are Kiana Shek, co-founder of Digifinex and once Deputy General Manager in Baidu, Charles Chiu with 10+ years in senior management in corporate finance, KM Lung who has background in AML/KYC for several investment banks, and CR Press’ own Joel Ma—writer and translator; he is the co-founder of two start-ups in retail and the owner of the ELAONSEN Supernode. They are all bilingual, which will give them the ability to communicate well with both East and West communities.

In a community Q&A, they answer several common questions which can be found in full, here: https://crfrigate.org/qanda/

In summary, CR Frigate believes that the most effective way to Elastos’ adoption is not only killer Dapps, but a direct monetary incentive to change people’s behaviors.  Uptick would be an example in which both ticket sellers and resellers benefit from running businesses on the platform.

In terms of Marketing, they believe that now that most the infrastructure of Elastos’ technology is ready, Marketing should be done strategically and effectively.  They intend to focus on media exposure and education.

And, with Kiana Shek, the co-founder of Digifinex on their team, the importance of liquidity is obvious to the team. Not only can ELA be listed on Digifinex, but the team’s understanding of finance makes their desire to facilitate additional listings considerable.

As for their stance on the token burn debate? The team is in support of a partial token burn, and that the resources should focus on the near term.  They would support a burn of 60% of CR’s supply.

CR Press has asked for further clarification on this matter, and CR Frigate explains:

“The proposed 60% is based on the assumption that we stick to the old plan for the first 5 years and release a reasonable amount of ELA during this period. The results are the first 5-year funding remains unaffected and lower the supply the ELA which help attract investors.

“As planned, EF will finish building all fully-functional infrastructure in less than 1.5 years. By that time, DApps and business can be built on a complete platform. If resources are dedicated into the first 5 years, by that time we still have 3.5-4 years spending. This is the golden period to strive for the success of Elastos. After that, the inflation will support the growth spending.

“We have read various proposals from the community and there are some brilliant analysis such as Alex’s paper on Elastos Ecosystem Tokenomics. There could be the need to refine the amount of tokens released each year. We would like to see a new model favorable to allocating resources in the near future and are open to discuss the detailed numbers.”

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