The train keeps rolling with a new Store Oracle, a jump in fundraising, and decentralized governance on the way!
Since we last posted towards the end of February the rising tide in crypto has ebbed even higher lead by advances in traditional stalwarts such as Bitcoin and Ethereum, as well as new DePIN protocols such as STORE itself. The team is pushing hard to complete current engineering projects as well as finalize the design for the Store Association to lead protocol governance and enable token launch later this year. As always, thank you to our community, both our long-term supporters and the new folks who have joined us recently. Let’s dig into the updates!
Engineering
The STORE Engineering team has been dedicating significant efforts to enhance and expand the capabilities of the Store Oracle and its comprehensive set of APIs, which serve as the backbone of the platform. A notable milestone was achieved earlier this month with the completion of the architectural design for the Store Treasury APIs. Additionally, we have updated our test network to integrate with Sepolia for testing rather than Goerlie as that test network for Ethereum is being deprecated.
Since the completion of the architectural design, the team has been conducting daily stand-up meetings to ensure steady progress as we continue to iterate upon the product. In tandem with the Oracle, we have introduced 33 new decentralized cloud services to the Store VM, of which their pricing info flows through the previously mentioned Oracle. Upon the successful completion of the current sprint focused on database and API performance, the Engineering team will shift its focus to enabling support for multiple currencies and introducing gasless payments.
The Oracle is evolving into a highly sophisticated intelligence system that serves as the foundation for the protocol’s real-time decision-making and adaptability. As a self-governing and self-adapting system, the Oracle provides STORE with the necessary intelligence to generate incentives and maintain a publicly accessible knowledge repository. This enables all aspects of the STORE protocol to be transparently auditable and allows for comprehensive instrumentation of the entire economy. Moreover, it empowers governance to make informed decisions that drive the advancement of STORE, setting it apart from competitors such as Amazon Web Services.
Explorer Preview here: https://youtu.be/pC1iXMcJ05k
Operations
As part of our ongoing marketing initiatives, we recently showcased a GIF in this Telegram channel that highlighted several key features of Store Explorer. This GIF is one of several we have developed to for an upcoming marketing push involving folks who first gained familiarity with us back in the Storecoin days. These materials will also be utilized across various upcoming marketing efforts.
In addition to the above campaign, we are also working on a new, streamlined presentation deck that will serve as a companion to the more comprehensive, data-driven, and tech-focused version currently available on our website. The purpose of this new deck is to provide a concise and accessible introduction to STORE, making it easier for newcomers to understand the core concepts and benefits of our platform.
By creating a range of marketing materials tailored to different audiences and levels of technical understanding, we aim to expand our reach and effectively convey the unique value proposition of STORE to a wider audience. These efforts are crucial in building a strong, engaged community and fostering the adoption of our innovative technology.
Governance
Design details for the Store Association are nearly finalized as the team works with our legal partners in Switzerland. Within the past couple of weeks we’ve been able to resolve the majority of open items as we design for a governance model that is enshrined in both Swiss legal law and our own constitution. From here, we can then move into regulatory and FINRA sessions with our lawyers.
The governance model we have arrived at is designed to democratize decision-making power over time while not opening ourselves up to a populist bureaucracy where nothing gets accomplished. We think we have struck a good balance here. Most recently, we have started the initial draft of our Store Constitution, the leading document that will govern the protocol and broadcasts the various rules and processes that will make up Store Governance. We’ll iterate on this version until we can bring it to our existing First Governance voters to be ratified.
Wrap-up
As always, we thank the community for your continued support.
We encourage you to learn more by reading the STORE deck: https://docsend.com/view/hqcw598kjqt62azz
If you have questions, please send them to team@storecloud.org
