Previous Updates

Valentin Ganev


--Facilitate protocol evolution through consulting of new and existing businesses

--Active development of applications running on the protocol

--Apply for a grant to develop a Factom explorer with advanced features

--Apply for a grant to develop an identity app on the Factom blockchain

--Provide up to $25,000 of self-funding for the operation of Authority Nodes, if Factomatic is operating at a net loss

--Envision & develop the on-chain voting protocol in collaboration with other community members


--Operate two testnet nodes


--Hold at least 75% of our net income from the operation of Authority Node(s) for a period of at least one year, or 50% if OTC is utilized. Note that the Factoids received in our two coinbase addresses (FA2svZ8yzBMQ4bbuM8b1uA8j2V5ApYWRjk4N75PFnk8CU9taWUkr and FA2KA6uNfQhtUgh5kjYFBNjaAgDUKd1JetoU354DZemN9irwRKYc) will be distributed further among members of the team, but all addresses will follow the same 75%/50% policy.

--Serve as a liquidity provider for Factoid transactions handled by Decentriq AG


2 nodes: 20%
1 node: 20%
Following a short internal discussion at Factomatic, we have decided to temporarily increase our efficiency to 25% on both Authority Nodes that we are operating. This will result in an overall 10% efficiency increase (5% per server). We deem a healthy grant pool to be of great importance to the ecosystem, and as such we are very happy to make a larger contribution to it.

Factomatic has been operating at our originally pledged efficiency of 20% since our onboarding in September 2018. At the time of our ANO application submission, the price of FCT was $25-$30 and despite the significant drop since then, we have not considered decreasing our efficiency because we believe in the long-term organic evolution of the protocol which would lead to increased usage and a predictable price of FCT. At the same time, we have been making continuous contributions on the legal, technical and community support sides of the protocol: from helping to bootstrap the testnet prior to the first ANO application round to hashing out the non-profit bylaws and making financial contributions to various activities. We also expanded our engineering team, with the addition of Peter Asenov in February. In a short time frame, he has already made major contributions to our DID grant, as well as done some excellent work on internal projects and we are looking forward to a continued fruitful collaboration.

What does the increased efficiency mean for our operations?

We are not considering slowing down and we will continue to operate in the same capacity on all fronts. In fact, we have onboarded two additional front-end developers to help with the remaining DID work and to revamp the UI/UX for our DID applications. Following, the completion of this project, we will evaluate a continued collaboration with them.

Our increased efficiency will become effective towards the end of the coming week (i.e. until July 7).

Valentin Ganev

We've released a public beta of Kambani, the MetaMask for the Factom blockchain:

Kambani is open-source under the MIT license and the code is available at

This Chrome extension provides:
  • an in-browser encrypted vault for your FCT, EC and DID private keys
  • digital identity management (creation, updates and deactivation of a digital identity, based on the Factom DID standard we co-authored)
  • an ability to import existing FCT & EC keys
  • encrypted backup and import of existing vaults
  • most notably, the ability for any site to integrate with the extension and to send signature requests to it
Kambani supports signatures with FCT, EC and DID keys as well as several types of special requests (such as signing PegNet txs).

We encourage you to download the extension and we would appreciate if you could also rate it in the Chrome store.

Valentin Ganev

We are very excited to release the first GUI wallet for PegNet: .

The wallet has support for burning FCT to pFCT, as well as for PegNet transfers and conversions. In order to use the wallet you will need to first install our Chrome extension Kambani: Kambani is a MetaMask-like browser extension, which creates an encrypted vault in your browser and allows you to sign PegNet transactions from the web wallet. Your private keys are never exposed to the wallet and never leave your encrypted vault! After installing the extension, you can access the wallet at

The wallet has undergone substantial testing in the last few days and we haven't had any reports about missing funds or otherwise faulty transactions. HOWEVER, THE WALLET IS STILL IN ALPHA, SO ALWAYS TRY INITIAL TRANSACTIONS ONLY WITH SMALL AMOUNTS.

If you have any questions about or problems with the wallet, please direct those to the #wallets channel of the PegNet Discord. We would like to thank @Carl @David Chapman @David Johnston and @Who for their support and feedback, and all testers for trying out this early version of the wallet!
Current Update: Resignation

Valentin Ganev

Factomatic is resigning as an ANO, effective immediately.

After a lot of consideration, we feel we are at a juncture where it doesn't make sense to take funds from the protocol for operating our servers and hence we would rather dedicate those resources to the Grant Pool. The ecosystem is sufficiently decentralised with & without Factomatic as an ANO, and hopefully those funds can be put towards more productive endeavors than operating our Authority Nodes.

What does this mean for our current commitments? We are involved in a technical role in a couple of Factom-related projects and will continue to be, but we won't be an ANO anymore. We are also committed to finishing our work on the verifiable credentials grant. Kambani will continue to be available on the Chrome store and we will continue to operate the PegNet web wallet for the foreseeable future.

All the best,
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Thanks for all the hard work you've done over the years. You guys bring skills that will be sorely missed and I am sorry to see you resign. I am pleased to hear you will be still be around in some capacity, and wish you all the best in future endeavours.