STORE Community Update - June 2024

Greetings, STORE community! We're thrilled to announce that we are approaching a significant milestone in our journey: on July 22nd, we'll be unveiling STORE to the world through CoinTelegraph's Pitch Room. Our team has been diligently finalizing the technical specifications and refining our demo for this global presentation.

In addition, we're preparing a comprehensive State of STORE update for our community. This package includes an updated launch plan,a comparison chart showcasing our position against competitors, and an investment memo for potential partners. It's an important time for STORE, so let's explore the progress we've made.

Engineering

Our engineering team has made substantial advancements this month.We've completed an update to our Dynamic Proof-of-Stake(DyPoS) engine, incorporating the protocol's compute utilization rate into the algorithm. This allows for more accurate compensation for decentralized infrastructure, positioning us competitively against established players like Filecoin and other protocols in our space.

We're also making significant progress in developing gas-less and multi-currency payments within the STORE protocol. This feature has the potential to transform user interactions with decentralized applications across various industries. By simplifying transactions and reducing barriers, we aim to facilitate wider blockchain adoption.

Looking ahead, our team is focused on several important projects:

·      Finalizing the specification for Store Cloud production costs (a key milestone that includes Total Infrastructure Costs)

·      Drafting documentation on how to run a STORE node

·      Developing new API endpoints for the Store A.I. Oracle

·      Enhancing our checkout process and integrating external wallets

·      Offering a payment option in STORE Credits

Operations

We've completed studio recording for our latest technical demo, a key component of our CoinTelegraph presentation. This new demo showcases the functionality we've added in the past quarter, and we're currently in the compilation and editing stage.

As we prepare to begin our internal raise at the start of July, we're developing a suite of materials for potential investors.This includes a one-pager chart highlighting STORE's unique position in the DePIN space, a comparison chart pitting STORE against its competitors, and an investment memo outlining the business opportunity STORE represents.

Our launch with Coin Telegraph's Pitch Room presents an opportunity to reach a broader audience through one of the industry's respected publications. We'll be showcasing our latest materials that we have discussed above.

Governance

In governance, we're working to ensure STORE's decentralized democracy is built on a solid foundation. We've re-engaged with our legal partners in Switzerland to develop a governance constitution that is both innovative and legally sound.

Our next steps include drafting the Articles of Association and working towards the official inauguration of the Association in Switzerland. This is a crucial step in our path to launching STORE and establishing a governance structure that can support the protocol's growth.

We appreciate your continued support and look forward to sharing more updates as we approach our global debut!

‍Wrap-up

‍As always, we thank the community for your continued support.

We encourage you to learn more by reading the STORE deck or our brief one-pager.

If you have questions, please send them to team@storecloud.org

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