468,270,545 ERC Saito have been moved from the Seed and Private Round Vault for distribution to Investors. We are glad to get these tokens to our supporters and thank them for their continued contribution to Saito.

Not all funds will be vested immediately. We would kindly remind anyone who has been sent and has yet to respond to a conversion request or confirmation emails that our Terms and Conditions require active response and that distribution may be delayed. We plan to process late responses on a weekly or bi-weekly basis to prevent late submissions from creating an unnecessary processing burden on our admin.

No SAITO have been distributed for other reasons since our previous update.

Vesting disbursements resulted in an 28% increase in resulting supply.
This represents the last substantive distribution of ERC20 tokens under the vesting program.

We hope to provide a ‘year in review’ update on finances and tokenomics in the coming weeks via our blog.

Treasury Safes:

Saito Private Sale Token Vault

Saito Foundation Token Vault

Saito Contributor Token Vault

Saito Holding Token Vault

171,955,463.49 ERC Saito have been distributed to Seed and Private Round Investors. We are glad to get these tokens to our supporters and thank them for their continued contribution to Saito.

No SAITO have been distributed for other reasons since our previous update.
Some liquidity SAITO have been placed in UNISWAP liquidity.

Circulating Supply

Vesting disbursements resulted in an 28% increase in resulting supply.

Some funds remain outstanding from this vesting period. We would kindly remind anyone who has been sent and has yet to respond to a conversion request or confirmation emails that our Terms and Conditions require active response and that distribution may be delayed. We plan to process late responses on a weekly or bi-weekly basis to prevent late submissions from creating an unnecessary processing burden on our admin.

These tokens will be held in the Saito Holding Token Vault and are included in the Circulating Supply calculations.

An update will be provided on token distribution at the next substantive change.

Treasury Safes:

Saito Private Sale Token Vault

Saito Foundation Token Vault

Saito Contributor Token Vault

Saito Holding Token Vault

As a step that makes progress with this, we have worked with AnySwap to create a bridge between ERC20 and BEP20 tokens. This bridge allows anyone to move SAITO ERC20 tokens onto BSC where they are can be freely traded as BEP20 tokens (the BSC equivalent to ERC20).

The process of moving tokens involves visiting the AnySwap interface. The bridge is live on AnySwap and the contract address for the BEP20 SAITO created by the bridge is: 0x3c6dad0475d3a1696b359dc04c99fd401be134da.

Partnering with AnySwap on this cross-chain bridge is a step towards two common requests: cheaper purchasing and transacting fees for SAITO and access to more liquidity pools and options. We are exploring options and sharing this news as we welcome community involvement.

If you are a larger holder or members of the community interested in providing liquidity, please feel welcome to get in touch. We are not currently offering any guarantees as to the reliability of the bridge, but are looking into options and may provide this as part of launching an official BUSD/BNB-SAITO trading-pair.

Status

We have moved quickly to work with AnySwap to make this possible. We are excited to be partnering with the AnySwap team but note that, as with all DeFi infrastructure users should exercise their own judgement and caution.

Take-Away

We have partnered with AnySwap to promote two of our key goals for our community:

• provide cheaper non-custodial ways to obtain SAITO tokens
• create more ways for holders to be rewarded for holding SAITO

We are looking into supporting a liquidity pool on BSC, that can share trading rewards with holders. We are talking to community members and partners gathering input on the best options. We will also pursue wallet integration and other ‘nice to have’ features to help increase the visibility of the brand, and help users transact safely.

Watch our social channels and announcements for updates.

Saito-Lite continues to be the backbone of our current testnet. We’re continuing to build cool new features that will form the building blocks of the Saito DAPP ecosystem.

Saito-Rust has a lot of new code:

• The Keypair class has been added (Secp256k1), this can produce addresses and sign and verify messages, including transactions.
• Runtime data structures for Slips, Transactions, and Blocks have been added to saito-rust along with some basic functionality.
• Burnfee algorithm(Saito Routing Work Difficulty) has been added.
• Mempool(block production) has been added.
• Blockchain class(for managing longest chain, rollbacks, block caching) basic structure has been complete.
• Investigation of various encoding techniques is in progress on the serialization branch. Currently under consideration are serde/bincode, protobufs, and custom encoding.

All the new rust code can be seen on github, of course.

Saito-Lite has shipped cool new features that allow DAPPs to interact with other cryptocurrencies.

The Substrate Crypto Modules have gone through QA and are now live on saito.io and available to be used by DAPP developers.

Poker and Blackjack have been updated to work with Crypto Modules.

Going forward, the Tech Team will be publishing bi-weekly updates to keep the public aware of our progress and to help orient anyone who wishes to contribute to the project.

With a growing team and a more engaged community, we’ve been thinking hard about how to support a bigger and more decentralized effort. In that spirit, Team Saito would like to formally invite the community to begin contributing by writing to us at dev@saito.tech or by joining one of our new dev channels on Discord.

We’d also like to point the community to our new Rust codebase which we’ve added on GitHub. This project will apply the lessons learned from Saito-lite, our Node.js implementation, to design the consensus and architecture. This codebase will support our next testnet and should eventually produce peta-byte-per-day transaction throughput. We will be redesigning the network APIs and applying best practices to help also support more seamless integration with other projects in the Saito ecosystem.

Milestone 1 for the Rust project will be a stripped-down version that can be used to benchmark the Rust implementation and give us some perspective on the tooling we’ll need to support development. We’re looking forward to sharing more on this next time.

We’ll be practicing Design By Contract and Test-Driven Development, which we believe will enable the team to produce both high-quality code quickly while also keeping the codebase clean and flexible enough to support changes later as we discover bottlenecks and approach the peta-byte-per-day level.

A significant amount of code has already been ported from our old Rust codebase. Architectural targets for our first few milestones are nearly complete and will be shared with the community very soon. Expect to see more Documentation, Roadmap/Milestones, Architectural Diagrams, Code Review Process, Bug Tracking, and Style Guides in the coming weeks.

GitHub link: https://github.com/SaitoTech/saito-rust

Saito is now live on UNISWAP. If you’re an advanced user and just want the raw information it is here:

• Ticker: SAITO
• Token type: ERC20
• ICO Token Price: 1 SAITO = 0.004 USD
• Uniswap Pairs:
  SAITO/ETH 0xdfcf744c8ae896e8631ba9b9dc717546646f6708
  SAITO/USDT 0x19f83460e387f1b01f94b85c2532ebc15b0b712e
• Token Contract: 0xFa14Fa6958401314851A17d6C5360cA29f74B57B

Please do not search for “SAITO” by keyword as scammers have created fake tokens to target our community. If you have any questions, you can find us online at saito.io or on Twitter at @SaitoOfficial or Telegram @SaitoIO.

How to Buy SAITO

Uniswap is pretty easy to use. To get started install Metamask and fund your Metamask wallet with Ethereum (ETH). Then visit https://app.uniswap.org and pull up the ETH-SAITO pair. To do this provide this token address: 0xFa14Fa6958401314851A17d6C5360cA29f74B57B in the box provided. This will pull up the SAITO-ETH pair and allow you to buy and sell SAITO by spending ETH.

DON’T FORGET: be sure to click on the “gears” controls and set your “Slippage Tolerance” to something higher like 4%. And set your “Transaction Deadline” to 2 minutes at minimum as if you go for lower your transaction could persistently fail. If your transactions seem to be taking a long time or have problems let us know in our group chat.

Info

• Ticker: SAITO
• Token type: ERC20
• ICO Token Price: 1 SAITO = 0.004 USD

Timeline

Saito Tokenomics

We currently have a proof-of-concept network running on Node.js that is supporting tens of thousands of daily transactions. We are looking to expand our development team and move beyond the prototype stage. We are supported by reputable funds such as Spark Digital Capital, DFG and Block Dream Fund by OKex and have launched an ERC20 which is growing our community and brand.

The next step in our roadmap is to build out a performant Reference Implementation of Saito while improving the javascript proof-of-concept into a robust user-facing platform on which it is easy to build and deploy high-throughput peer-to-peer applications. We’ve chosen node.js as our foundation for the user-facing stack. Our goal is to continue to improve this codebase and improve the quality and calibre of the applications running on it to increase network adoption.

Saito is currently a small team and as an early technical hire you’ll wear many hats. However, your primary responsibility will be continuing to develop the current javascript implementation: both improving the software stack (making it easier for others to build atop Saito) as well as improving the existing set of applications that are already running on Saito. The ideal candidate will be able to identify problems faced by users and developers, suggest new features and fixes, and implement those. We want more usable applications running on Saito, a better experience for users and developers alike.

Location: Our team is located in Beijing and Bangkok. Remote work is acceptable. While COVID makes travel impossible now, we prefer to work with candidates who are able to spend at least a month working on-site with us every year.

Roll: Full Stack Javascript Developer

Requirements: Javascript, HTML, CSS, NodeJS

Nice-to-have: Webpack, system administration, Rust, enthusiasm for blockchain technology, Chinese

Salary: Above market rate depending on experience, optionally payable in cryptocurrency

Benefits: standard benefits

If you’re excited by the idea of joining our growing community and working on a project that genuinely matters please send an email, including your resume, to clay@saito.tech.

As Milestone 1 for our grant, we’re building an interface to allow Saito’s DAPP Platform to integrate with Polkadot, which we refer to in the grant as the “Saito Polkadot API Module”. The major feature we’re actually delivering for this milestone is an abstract module called AbstractCryptoModule which could be used to integrate Saito with any other blockchain.

On the horizon, there is also a possibility of extending these modules to support what we call Saito Open Infrastructure. Saito Open Infrastructure would allow DAPP developers and DAPP users to run or interact with arbitrary blockchain endpoints which are serviced by being routed through Saito’s Open Network Layer. The prototype we built for Dorahack’s Substrate Hackathon was an example of this technique. For some details on this technique and the possibility of leveraging this in the future, we’ve recorded a recap of the hackathon presentation.

The benefit of routing your transactions through Saito is that this enables endpoints to be monetized in an open and decentralized way. For example, if someone wanted to run an Ethereum node, service it through a Saito Open Infrastructure scheme, Dockerize it, and open source the entire project, this would help solve the Infura problem.

If you’re in the Polkadot ecosystem and think this technique could be useful for your project, we’re ready to assist you. We hope you enjoy the presentation.

Like Vitalik, I also mistook him for a BSV shill. It’s hard to understand the Saito point-of-view when you’re trapped in the Proof-of-Work or Proof-of-Stake mindset.

At the time, I was stuck on one side of the debate between BTC, BCH, and BSV. The perspective which I now hold is that the fight is a consequence of the broken economic incentives at the core of PoW. It’s not that one side is dumb or corrupted so much as that all sides have problems. We’re all able to see the errors on “the other side” more easily than our own and no one within that debate is taking a step back to ask if we’re all making different flavors of the same mistake.

At first, I thought David was just shilling some weak project. Given the state of the industry, it’s hardly the wrong assumption to make. But, after speaking for few minutes, I could see that he was sincere. However, what he was telling me was “impossible” within my paradigm. Saito can scale to handle world-wide micro-transactions and it is safe from 51% attack? My initial thoughts were definitely skeptical. I assumed that David must not understand “blockchain”, or that Saito had relaxed some fundamental constraint in order to achieve scalability. However, it was some of my assumptions about “blockchain” which were incorrect.

As I dug deeper, it became clear that David understood these issues quite well, his motivations were pure and he had clearly put a lot of thought into everything I wanted to discuss. But, David had a different way of looking at the industry which was difficult for me to understand at first. Whatever topic I wanted to discuss, he would always frame it in terms of Game Theory.

David was claiming that the scaling problems in the industry were caused by bad economics, not just some technical issue. At first it only seemed like some theoretical viewpoint which may not have any practical implications…

When I brought up IP (The Internet Protocol) and BGP, he not only understood my comparison but elucidated how Saito might be able to implement a similar system. Strange… When I mentioned details of my own project, an Ethereum-based platform for app integration, he was able to explain why Ethereum was having trouble delivering scale. My customers would either have to run their own Ethereum node or find someone else willing to offer an API for free, the theoretical started to become quite practical…

“Blockchain”

Satoshi definitely created something brilliant, but is it “Blockchain”? And what is a Blockchain anyway?

As I’ve gotten more and more familiar with David and Richard’s ways of thinking, I’ve come to agree that Satoshi’s brilliant discovery was that digital systems can implement economic primitives and that those economic primitives, i.e. coins/tokens, can be used to incentivize clients to run a decentralized system. The tricky bit is only that the one depends on the other, so there’s a catch-22, but now that nearly everyone on the planet has accepted that coins can have real value, that’s hardly a problem anymore.

The fundamental difference between Saito’s way of framing problems in the industry is that we always thinking in terms of Game Theory, not just technically. Of course, once the design has been done within an economic frame-of-mind, the implementation is technical, leveraging hashes, digital signatures, “difficulty”, et cetera. Once you accept this way of thinking, many things in the cryptocurrency space start to make more sense.

Web 3.0

Vitalik often speaks about building systems which can accurately reflect the incentives surrounding a Public Good. Most people will have heard him advocate for Quadratic Payments. I believe this is related to a common dream in the CryptoCurrency space, an intuition we all had in the early days that we’ve lost as we intellectualize the problem and start to believe in things like the Blockchain Scaling Trilemma. Those of us who joined the movement early on and can still remember dreams of Web 3.0, micro-transactions, and a blockchain that could operate at Internet Scale, when “Colored Coins” was still an idea and the only other Blockchains beside Bitcoin were Litecoin and maybe Dogecoin.

A blockchain is a Public Good, so it’s natural to ask, if we want to incentivize the funding of a decentralized network that optimizes for network throughput, how might that be done? The answer, which David and Richard have discovered, is that the fundamental unit of work must be the fees themselves.

It might seem purely academic and irrelevant to have something like a blockchain which is “more correct”, however, the effects which come as asides to solving this problem correctly at the fundamental level are absolutely huge. Not only is Saito secure against 51% attacks, but it is also happy to allow micro-transactions, something which in the early days it was assumed Bitcoin could achieve. Now it seems that for most people in the space this has become a forgotten dream, a dream which underpins any hope of creating Web 3.0 or anything more interesting than a transferable token or Uniswap.

Accepting that Saito can do all these things is difficult for many people in the industry to accept. Saito achieves things which seem impossible to those of us who have been stuck in the Proof-of-Work paradigm for years.

It was unclear to me how bogged down the cryptocurrency space had become before I met David and Richard. I had some intuition from the early days that cryptocurrencies could become so much more. Over seven years the vision became narrower and narrower. It’s only now, standing in the light of Saito that I’m able to see just how dark my path had become. If, like me, you also have some intuition that the cryptocurrency industry could be so much more, or that your favorite project isn’t quite what it could be, take a look at Saito. 

Please feel free to contact us on Twitter, Telegram, or Discord. If you want to try to fork our code and make something awesome, I’ll see it most quickly if you ping me on Telegram. Follow along with our blog.

职责范围

• 执行项目推广和营销计划。
• 与创始人团队规划、参加活动并在活动中发言。
• 在海内外媒体和渠道上进行项目宣传。
• 建立并执行成功的中国社交媒体策略。

目标

• 搭建Saito中国社区。
• 推动Saito网络的使用率。
• 在投资者社区等更多社区中建立项目形象。

备选人要求

• 拥有积极自主开展工作和独立工作的能力。
• 在早期区块链项目中有工作经验。
• 对区块链和加密货币技术有扎实的了解。
• 深度理解Polkadot生态，加分项。
• 母语级的中文读写和演讲能力。能够和英语为主的国际团队协同工作。

岗位信息

办公地：北京总部（优秀人选可考虑上海或杭州）
年薪和绩效奖金可商议。

申请

将您的简历和您的申请信发送至jobs@saito.tech

或：

China Marketing and Operation Director

Responsibilities

• Execute project outreach and marketing program.
• Work with founder team booking, attending and speaking at events.
• Promote the project on domestic and foreign media and channels.
• Build and execute a successful China social media strategy.

Goals

• Build the Saito China community.
• Drive Saito network usage.
• Build project profile among investors and broader community.

Candidate Profile

• Ability to take ownership and work independently.
• Experience in early stage projects.
• Solid understanding of the blockchain and cryptocurrency technology space.
• Understanding of the Polkadot ecosystem especially valuable.
• Native or very close Chinese writer and speaker. Ability to work in an English speaking international team.

The Role

Beijing based. (Shanghai and Hangzhou also considered for good candidates.)
Flexible package of fiat and tokens to suit seniority and bonuses for performance.

To Apply:

Forward your resume and a note about you to jobs@saito.tech

or scan: