Q2 2020 ANO Report

Previous Updates

--Build a new paper wallet for Factom, including web app (grant)

--Technical integration with other blockchains


--Evangelize Factom at several blockchain conferences and events

--Sponsor the monthly chapter meetings of the Silicon Valley Blockchain Society in Austin (grant)

--Advise Factom on how to scale Facebook engagement

--Facilitate introductions to Huffington Post tech writer, community organizers in Europe and content creators in China

--Share internal solutions which protect against the exploitation of common attack vectors and crypto storage pitfalls

--Create a new Factom explainer video

--Work with cryptodisrupt.com to write and publish articles on Factom, distributed through their site and social media


--Two testnet nodes


--Participating in governance

--If not allocated grants, work will continue on proposed projects at a slower pace
@Prestige IT here with our Fall update for 2019. We have had quite the busy year, but wanted to take the time to update the community on everything we are currently pursuing to benefit the Factom ecosystem. We realize it has been a while since our last update, so lets take a look at our recent ANO contributions.


Over at Prestige, we are incredibly excited about Pegnet and the value a killer app like this can bring to the Factom Protocol. We are proud to say that we have become one of the largest mining infrastructure operators on Pegnet, and we have burned over 200,000 Entry Credits since Pegnet launch. In addition to our mining and infrastructure efforts, we have also volunteered to host/organize a Denver Pegnet meetup chapter starting later this fall to boost local presence and face-to-face community interaction. We have also committed to burning a percentage of ANO FCT profits into pFCT to help capitalize the Pegnet market and show dedication to this new initiative that could help transform the future of the protocol.


Some of you may be aware of Frostbyte, our offline Enterprise Key Management software that Prestige IT has been working on internally over the last year. We are extremely happy to announce we now have enterprise customers in our pilot program who are using our product to protect, secure, and apply organizational governance over corporate FCT holdings. While the product is not Factom specific, and can be used with most cryptocurrency protocols, we are incredibly excited to see the product gaining traction within the Factom ecosystem and the enterprise crowd as a whole. Much, much more to come on this product soon, as we are still in the very early phases and things are still very much under wraps.

ANO Pledges:

Since being elected as ANO, @Prestige IT has committed to upholding our initial campaign pledges. We have continued to meet authority node up-time requirements, server update windows, and operator response time during network stalls. All premium cloud deployment configurations remain at full original specs as promised in our campaign documents. We have done absolutely zero downgrading of main-net systems due to cost, and we continue to operate in costly regions to provide a South American presence as also pledged in our ANO election campaign. Throughout recent unfavorable market conditions, new company initiatives, and increased amount of time spent on ANO duties we have held an unwavering 50% operating efficiency as stated in our campaign documents.

We expect a strong finish in 2019 for the Factom Protocol, and we are super happy to help contribute. We will continue to strive for improvement and be the most valuable ANO we can be.

Thank you.
Prestige IT: Q4 2019 ANO Report

Protocol Contributions:

Q4 was an insane few months for Prestige IT. We saw the launch of PegNet on Factom Protocol which was a very exciting event for us all. We saw enthusiasm for PegNet unlike anything else during our involvement with Factom. Investors were excited and eager to participate in this novel new protocol, many chomping at the bit to invest after only a brief initial discussion about the capabilities of this new Stablecoin network. What many of you may not know, is that Prestige IT is part of a working group that helped facilitate in bringing over seven figures of new $ value into the Factom ecosystem on PegNet. A vast majority of this was done pre-listing on any exchange, meaning it was done through the burning of FCT, greatly contributing to the extraordinary FCT deflation we saw over the past several months. We technically assisted over 20 individuals and organizations in 5 different countries with entering substantial investments into PegNet, some are prominent names within the crypto space which now have a vested interest in making PegNet and Factom Protocol succeed. I would like to add that these numbers are not theoretical or anticipated future values, this work has already been completed for weeks, and the numbers are ticking even higher as time goes on.

Our team provided 24/7 technical support in this effort, trained new investors on using Factom/PegNet, and made sure their keys were readily available to them and stored securely offline via our FrostByte enterprise key management software. We continue to provide business continuity and disaster recovery services for these clients, as well as general Factom node support when they run into issues. In addition to the technical assistance, we have also been involved with and supported most community efforts to date on PegNet. Our group helps support paid marketing efforts, the development of the open-source Prosper Pool, and developer bounties with over 7 Million PEG already paid out to community members for their efforts. The fees collected from the public Prosper Pool are also used to help further these efforts. In addition to supporting others entering the PegNet Ecosystem, we also made the plunge ourselves. We burned 4 straight months of total ANO earnings into PegNet and intend on keeping it up, we plan on continuing to promote these deflationary tactics and smart selling of pAssets to the community. I hope more and more of us join in on this front as PegNet continues to gain traction with new exchange listings and media exposure.

Now this recent work is confidential by nature, and we had to legally ask for client approval just to share these contributions with you all. I am honestly not one for self praise, so I want to mention that my only reason for doing this is to fend off the recent attacks on me and my teammates both here on Factomize and the Discord channel. We have been recently attacked for silly things such as “lack of twitter followers”, when behind the scenes we have been working in silence for months, both day and night to create additional value for the protocol and its first killer app (PegNet). We are not making outlandish claims of the future value our work will create, we are actually bringing that value today. Now, I hope this can be taken as evidence that new investors or money alone can't fix the problems we are seeing. Bad community decision making can easily wipe out all of this progress. We saw this on PegNet with one whale having an insecure config, resulting in getting hacked and causing the entire market to bottom from reckless selling of stolen tokens, even with all the incredible progress we made over the past few months. We are seeing this on Factom with the grant pool's quarterly token dumps on a limited liquidity market, only to fund inessential projects that aren't actually bringing any increased usage or token demand. My firm personal belief is that all the recent progress makes both Factom and PegNet strong enough to recover from these events and lapses in judgement. However, we cannot afford to keep making the same mistakes, the past year needs to be a learning experience we use to improve our tactics and move forward into a better tomorrow.

In other news…

You may have noticed we keep talking about a secret project called Frostbyte over the past year. This project will not be held in secrecy much longer, as we have very exciting news just out on the horizon. Some important details are still underwraps at this time, but here is some of the recent progress:
  • FrostByte was spun out into its own legal entity under the Prestige IT umbrella
  • We have secured a deal with a reputable Venture Studio for future development and UI/UX work. We currently anticipate our partnership to be finalized and contracts signed this week and work to begin next month
  • We are at work securing our patents for the new groundbreaking features being added later this year
  • Big announcement and product reveal coming in Q1-Q2 of this year
We are so excited for the ANO community to get their hands on this product as it's something we all have a viable use case for within our respective teams. Big reveal and much more info coming very soon.

Looking Forward with 2020 Vision:

Lastly, I want to apologize for this report coming late. We were hoping some solid Frostbyte related news would be ready to share in time for this report, but the recent drama and accusations made me realize we needed to get this out to the community ASAP. We realize that you all can’t know of contributions we are making unless we tell you about them, so we hear your recent concerns, and pledge to increase our communication to the community going forward. In addition, I am also pledging to take a more active effort in addressing the problems in our governance I have been publicly critical of lately. In the past week we have created a small working group to create a possible plan for improvement, and will create a dedicated discussion thread here on Factomize to discuss our preliminary ideas for a possible ANO success metric framework and community efficiency guidelines later this week.

2020 will be an exciting year of continued progress for Factom Protocol. If we continue to build on what we already have and strive to always improve as a community, we will be unstoppable.
General Protocol Contributions

Q1 of 2020 has been as exciting as ever. Even with the uncertainty all around the world, our team has been able to stay on track as we work to support the Factom Protocol. As you read further on, it's important to note that the entire scope of our work completed was either self or privately funded. None of these activities were subsidized in any way by the grant pool.

As always, Prestige IT does its very best to provide meaningful input to major governance discussions. We continue to vote regularly on community matters, maintain 100% uptime on our authority nodes, and respond promptly to network stalls. Our protocol related operations have consumed over 650,000 EC in the past 6 months, and we look forward to continuing to contribute to the increased usage of the Factom Protocol.

Please keep in mind that not all of our contributions could be listed here for the security and privacy of our clients. We appreciate your understanding in this regard.

Prestige IT has helped introduce many new clients recently to PegNet. Our primary role is that of hand holding these whales/partners/service providers through the process of engaging the PegNet market, obtaining/converting pAssets and most critically, offering cold storage and disaster recovery solutions to ensure security and customer confidence. These engagements to date have introduced over 1.5M of private investor and institutional funds into the network. We believe this kind of work is instrumental to the healthy growth of the community. As we have continued to see PegNet evolve over the last few months in terms of new capital entering the ecosystem, we have also had the unique opportunity to assist in hosting and administrating some of its core tools while providing continuous internal security reviews of these new public services. Specifically PegNetMarketCap.com, pTrader.co, Prosper Pool, pWallet, and the ERC-20 pAsset Gateway.

In addition to our involvement with the tools listed above, another unique way in which we have helped inject new talent to the community is by overseeing the community bounty program and providing necessary DevOps support for any freelance devs sourced from these open bounties. A worthwhile note regarding these development efforts as a result of the bounty program, is that they have cost a fraction of what equivalent proposals were quoted through the Grant Pool. These bounties were either funded privately or through community donations.

Hosted PegNet Infrastructure

A couple months ago, a client of Prestige IT took ownership of PegNetMarketCap and we have since hosted and maintained this site on their behalf. PNMC is not only a popular community resource, but has evolved into a critical data-source for miners on PegNet.

(Big thank you to Factomize for the excellent work on PNMC and all their support throughout the ownership transfer process.)

Prestige is actively hosting and providing dev ops support for the first PegNet trading bot and Trading View integration tool pTrader.co. A resource the community has sorely missed since PegNet’s launch is familiar GUI based tools to interact with pAssets. This web app also seconds as an easy to use “normie friendly” web wallet. We believe that this is a major milestone for the PegNet community and is one of the key tools separating the technical few who are able to navigate the use of PegNet in its current form from the average crypto enthusiasts which do have not the time or technical knowledge to fully utilize or get involved with PegNet. pTrader is a first of its kind stand alone web-based trading bot that offers:
  • Secure account creation with 2FA offered
  • Management of all pAssets
  • Conversions between all pAssets in wallet
  • Deposits and withdrawals with the added feature of QR codes for ease of use
  • Integration of trading bot linked to Trading View
  • Export of Private Keys
Check out the beta release at https://pTrader.co.

Prosper Pool
Prestige IT continues to host and administer the public PegNet mining operation, https://prosperpool.io We have seen regular growth with a constant flow of new users who are passionate about participating in PegNet and helping to grow the community as a whole. We continue engagement with community sourced developers on continual improvements and additions for Prosper Pool. Being open source software, Prosper Pool is now running the majority of miner hash-power on the network.

pWallet will provide a polished iOS/Android/web app wallet experience for the PegNet community. Something that has been sorely missed is the lack of any mobile wallet for pAssets, this will hope to fill that gap and give users a simple, convenient, and secure platform to store their PegNet holdings. Beta testing coming soon.

ERC-20 pAsset Gateway
The Factom to ERC20 address gateway for pAssets is operated in order to facilitate pAssets being deposited on IDEX, Uniswap and other Ethereum based liquidity pools, Dex's and wallets. Generally the gateway extends the reach of PegNet to the Ethereum community. We recently took on the responsibility of maintenance and operation of this gateway, and are happy to provide this service for the PegNet community.

Internal Development

As we alluded to in our Q4 2019 post, Prestige continues to push forward with the development of its Enterprise Key Management software, FrostByte. With patents filed and developers working hard over the past several months, we have nearly finished a complete branding and UI/UX redesign which has been dubbed Phase 1. With this, we now have a sleek mobile app in the works that will offer not only the ease of use and polished experience necessary for general public adoption, along with added functionality to be the foundation for Phase 2.

This phase will include the addition of critical functionality that is not yet offered in any other wallets or key management software. As of right now, we are on schedule for a public announcement and marketing site release in Q2 as initially planned. We appreciate your patience, however we have no doubt it will be worth the wait. We are especially excited for our fellow Factom community to begin using this tool to start protecting and managing their sensitive data.

Looking Forward
We are excited to continue to grow in the value we provide the protocol, along with the continued growth of the Factom ecosystem. The past few months have not been easy, but we still believe at our core that there is a bright future for Factom Protocol ahead. We appreciate all of your continued support on all of these endeavors and look forward to the future ahead. Working together, we as a community can overcome any obstacle that stands in our way.
Current Update: Q2 2020 ANO Report

We continue to host and operate the following sites and services (New items for this quarter will be highlighted in bold):
  • Pegnetmarketcap.com
  • prosperpool.io
  • pTrader.co
  • pWallet.co
  • Explorer.pegnetmarketcap.com
  • OPR Microservice (Pegnet 2.0)
  • Pegnet FCT/ERC20 gateway
In the past quarter, the PegNet community desperately needed a working explorer, as https://pexplorer.factom.com was, and still is, non functional. Community member @Antoncorbn created the explorer for the community and we offered to host it on a subdomain of pegnetmarketcap.com. In addition, the implementation of PegNet 2.0 requires a new OPR Microsevice that we are also hosting. You can see how the OPR Microservice fits into the Pegnet 2.0 architecture in the following diagram:


Kyber Network listing
In the past few weeks, Saul worked with Republic to complete the ERC20 PEG listing and automated price reserve deployment on Kyber Network. Smart contract deployment to Ropsten testnet was completed last month, and after thorough testing, we completed the mainnet smart contract deployment last week. The APR is currently awaiting funding, and should be going live on the platform soon.

900,000 EC consumed
Since the launch of PegNet, our public services have consumed over 900,000 Entry Credits on the Factom blockchain. We realize that organic EC consumption is one of the best ways to directly improve the tokenomics of the Factom Protocol, so we are proud to say that we are now consuming over 2000 EC per day on the Factom Mainnet. We hope to see this number keep increasing with each quarterly update, as the use of these services grow.

Continuing Efforts

We have had so much interest from the community on FrostByte, so we know you are as excited for our big product reveal as we are! Fortunately, the wait is almost over. While we were hoping for a Q2 announcement, COVID-19 has caused several delays for our team and our partners. We are currently putting the final touches on the website and the UI/UX of the app redesign. We believe we are only a few weeks out from a public announcement and product reveal, and we can’t wait to share with you all.

Auth Nodes
Prestige IT provides two authority nodes at over 99.999% uptime, with 24/7 monitoring for these systems. We continue our commitment to respond in a timely manner to network events, and perform mainnet updates within the specified update window.

We continue to participate in governance efforts, discussions, and votes.


Amid dwindling FCT prices, Prestige IT continues in its effort to provide real value for the Factom Protocol community. As most ANOs are pulling back their involvement, we continue to increase ours. None of the work discussed in this update was either directly or indirectly grant funded.