Bi-weekly Report (08.04.2018~08.17.2018)

We provided the biweekly report on M.I.T&TNB project to all the supporters, communities and followers.

Important Announcement

According to TNB white paper, M.I.T Foundation had planned to transfer MiaoA China ecology, which accounts for 18% total supply of TNB. However, due to policy and business model upgrading, etc, the plan only implemented user migration incentives and about 1,025,728,386 TNB were left unused. As the white paper said, this portion of TNB should be burnt on August 26th 2018.Given that the TNB white paper does not reserve TNB share for mining incentives, changing usage of this portion TNB to mining incentives is also an option for the long-run development of TNB.In line with the intention of community autonomy and determined by M.I.T Foundation, the following three options are provided for all the TNB holders who will vote by shares (1TNB = 1vote).

TNB Team will not participate in voting and the vote announcement will be released on August 26th 2018.

1) Burn it all.

2) Reserve it all (mining incentive).

3) Burn a portion and reserve a portion (mining incentive).

Announcement: https://tnb.fund/votingAnnouncement

Voting page: https://tnb.fund/vote/voteoobt

M.I.T&TNB Development

1. Decided by the M.I.T Foundation and MiaoA board of directors, “community vote one 1 billion TNB” activity has been published on TNB official website. All the community members are encouraged to vote.

2. The X.509 contract and personal token contract testing are coming to an end. The X.509 information on Explorer has been developed. We will soon announce the contract sample and token issuing process with X.509 authentication information.

3. M.I.T is developing necessary programs related to nodes and the official public nodes will be released soon.

4. The 3rd round of testing for the mainnet security has been completed, community members please feel free to actively test the mainnet. M.I.T promises that as long as long you submit vulnerabilities of mainnet and get confirmed, certain matched bounties will be given.

5. M.I.T is actively engaged in developing relevant interfaces, packages and documents, community members are highly welcomed to join into developing and the Developer Community will open accordingly.

Actions

1. In order to make more people truly understand the value of TNB and expand TNB global influence, TNB Team promoted the volunteer recruiting plan and was officially launched on August 8th 2018, and submission deadline is August 18th , 23: 59(UTC+8). We will soon announce volunteers of the 1st round of recruiting.

2. In order to improve the global community activeness and increase community cohesiveness, TNB team launched the “T-shirt design contest” on August 11th and submission deadline is August 20th and contest results will be released on August 24th.

TNB Team

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TNB is token that represents MiaoA International Timechain (M.I.T). That is dedicated to building a precision time-value based transmission network.

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