Spelunker, Valis Co-Founder & CPO, Member of the private marketing-execution channel at the time:

“We need to reduce supply” We are not against reducing supply. In fact, Qsilver has helped to develop Qearn from the very beginning, and wrote the first post on the topic. However, reducing supply through staking, emission cuts, or developing numerous smart contracts is not the answer to the why question either. This approach attempts to manipulate supply and demand rather than focusing on creating a vibrant ecosystem. Even if Computors—those with the power to approve or reject Steco's proposals—might theoretically benefit from a reduced supply, it’s not without significant downsides. Slash emissions, and you slash their revenue. Redirect part of their earnings to grants, and they feel the pinch. These measures are only defensible if backed by a robust, strategic plan ensuring every dollar spent drives real value. However, Steco's proposal lacks a clear, strategic plan to genuinely foster a thriving ecosystem, relying instead on a basic grant program and vague promises of increasing smart contract deployments. More importantly, incentives designed for Computors or whales do not necessarily align with the needs of entrepreneurs. Entrepreneurs aren’t motivated by reduced supply. They are driven by opportunities to create and capture value. By focusing solely on supply manipulation, you’re not addressing the real needs of the target audience you aim to attract away from the thousands of other cryptocurrencies. To genuinely propel Qubic forward, we need to shift the focus from supply manipulation to value creation. This means developing policies that foster innovation, support long-term projects instead of short-term grants, and create an environment where entrepreneurs can thrive. Remember, if you don’t talk about the real issues, you won’t think about them, and ultimately, you won’t act on them.

Tom55, SteCo Member:

banned.

Spelunker, Valis Co-Founder & CPO:

I can no longer access the #marketing-execution channel. Have I been “banned” too?

MrUnHappyX, SteCo Advisor:

probably not. all roles have been reset and build new some days ago. do you still have the marketing role? or Qubic Team Role?

Yung-jeje:

Really appreciate what you bring with your post, seemed very constructive to me.

Kovuh:

i don’t get why reducing max supply and what the new article would be proposing would have to be mutually exclusive.

crypdro, SteCo Member:

Hello sir. We welcome your discourse (what you outlined in your blog post) and are happy to respond when the time is right. We use the marketing channel to elaborate on the response and there it makes sense to discuss in the team before going public.

Yung-jeje:

I agree with you, it doesn't have to be exclusive and I think that's what Spelunker explained here What I appreciate is making the focus on the development of the ecosystem which in my opinion is the most important thing. Doesn't meen that Project X isn't necessary.

Spelunker, Valis Co-Founder & CPO:

Hello Crypdro, Thanks for clarifying is not a Discord role issue. We value continued dialogue and are disappointed by the reduction in communication venues. Open discussions are vital for transparency and inclusivity. Notably, JOETOM previously used this channel for funding requests, encouraging questions, which suggests a broader discussion scope. Restricting discussions now seems inconsistent. We hope to maintain open, productive conversations in appropriate forums.

Foleycious, SteCo Member, in charge of Marketing:

(reacts with a 🤡 emoji).

Spelunker, Valis Co-Founder & CPO:

Marketing in shambles When even designing a conversion funnel for your ecosystem is no longer feasible, the only option left is to start tracking vanity metrics, superficial data points that look impressive but don't necessarily indicate true business performance or lead to actionable insights. Marketing, once a strategic endeavor focused on bringing a product to market by identifying target audiences, understanding their needs, and driving conversion, devolves into short-term tactics and tracking social media followers, X Likes, YouTube views, Telegram users, Zealy tasks, and number of grant requests received. No flywheel means no increased momentum. Without momentum, marketing inputs and outputs remain directly proportional—what you put in is exactly what you get out. No multiplier effect. The marketing team shifts from being judged on strategic impact to being measured by the hours they put in. Everything becomes about the immediate next task: the next “ann”ouncement, the next “AMA”. Over time, Mr. Market notices this short-term focus, and the price action starts to resemble the dreaded fishbone of death—a pattern of ever-decreasing pumps. Being addicted to shiny is like being addicted to sugar rushes; a non sustainable cycle of brief highs that feel great, followed by crashes that leave you drained and disappointed. Back to square one. Without a flywheel, long-term success becomes unachievable.

The final part of our series, “The Case for a Qubic Stablecoin" is live! In "Part 5 - Growing the Ecosystem", we detail our funding request to the CCF to kick-start a Qubic-based stablecoin and drive ecosystem growth. https://valis.xyz/blog/the-case-for-a-qubic-stablecoin-part-5-growing-the-ecosystem #crypto #tickchain #Qubic #Valis

TrustInCode, SteCo Advisor:

I've mentioned why I think it’s a fact that you won't get the license because of the missing fit and proper management team, its not about the capital requirements that's the least of your problems. Also I think the emoney license is the wrong license to issue a stablecoin. Specially in Estonia. Your proposal reads as a big dream but it's not feasible in my opinion.

Alber, SteCo Employee:

The application of a EMI license in Estonia is a suicide. From experience the legal expenses are too low and it can take years, specially if you are going to explain that your goal is to develop an stable coin. Why is not an option to partner with a healthy cripto bank not an option?

TrustInCode, SteCo Advisor:

I was advising many crypto business on EU regulation.

TrustInCode, SteCo Advisor:

True! I spoke to the top 3 lawyers in Estonia and they confirmed this. There are much better ways. But Valis does not listen to advice. And Spelunker does not want advice. I will not pursue to help someone who does not want my help. Free help by the way.

imanu

Could you show an alternative way to achieve it?

Alber, SteCo Employee:

A CEO that is launching a stable coin, had to go full crypto as EU was an absolute nightmare

imanu

Give your support might help.

MrUnHappyX, SteCo Advisor:

Wrapped USDT would solve the absence of a Stablecoin on Qubic

Alber, SteCo Employee:

It might lose a piece of the business: banking, that I don't know how crucial it would be for their business model.

TrustInCode, SteCo Advisor:

True. Just wrap an existing stable and bridge to qubic. No centralized risk no regulatory risk.

MrUnHappyX, SteCo Advisor:

No costs in millions.

TrustInCode, SteCo Advisor:

We just need liquidity on both sides of the bridge. Bridge options we already have.

Alber, SteCo Employee:

and there are also business models capable of making money without the banking and regulation issue

TrustInCode, SteCo Advisor:

A stablecoin is not a business model in my opinion. A dapp that uses that stablecoin and earn fees has a business model.

Alber, SteCo Employee:

Based on fees it can be.

TrustInCode, SteCo Advisor:

Yeah, try to compete with usdt and usdc on fees. And onramp offramp options.

MrUnHappyX, SteCo Advisor:

And when DEXes and usecases are all established there still can be a own Stablecoin developed.

TrustInCode, SteCo Advisor:

And liquidity.

TrustInCode, SteCo Advisor:

Using an existing stablecoin would be the first option yes.

Spelunker, Valis Co-Founder & CPO, responding to Le Renard: “somebody stole valis qus”.

It is not us who don't know where their QUs are going: ⁠#price-discussion Not much left in CCF :cfbtroll: ⁠#price-discussion As said I have no idea where some of the funding exactly goes. I’m not involved with SteCo. #price-discussion But valid point, should be transparent.

Tom55, SteCo Member:

ok you claim steco doesnt know where the funds are going. clear fud, ccf is not even controlled by steco. 24h to, see you tomorrow and read the rules.

PeterB:

He was just quoting me and I was referring to all SteCo/payouts. To be honest all payments from CCF to SteCo are just general descriptions. Nobody knows except SteCo where all money exactly is going :cfbtroll:

Spelunker, Valis Co-Founder & CPO:⁠

#price-discussion #price-discussion Even after PeterB clarified that the comments I referenced were his, not mine, you kept my time out. Think about it.

Spelunker, Valis Co-Founder & CPO, responding to Salar, SteCo Community Manager: “I do have a lot of respect for Qsilver and so the same for you guys (Team valis) but don't you think in your every comment you are dragging SteCo?”:

We believe that a flawed marketing strategy is harming Qubic, and since this strategy is developed by SteCo, addressing the issue requires discussing how to fix it. There’s no way to have this conversation without examining SteCo’s unique aspects—its leadership, selection process, interests, agency costs, performance, accountability, and transparency.

Come-from-Beyond, Founder of Qubic:

Why price has risen 5 mins after I talked to marketing dept? Coincidence?

Spelunker, Valis Co-Founder & CPO, responding to Come-from-Beyond, Founder of Qubic: “Why price has risen 5 mins after I talked to marketing dept? Coincidence?”:

⁠#price-discussion Having access to the marketing-execution channel provides a clear advantage—any seasoned trader knows this. So, if you're looking to benefit from insider information (like the next exchange listing, major announcement, or timing), it’s in your best interest to do whatever it takes to stay in that channel. SteCo members are aware of this and use “access” as a tool to co-opt people into an unspoken agreement: stay agreeable, and you’ll keep your access—and your gains. This setup is problematic because it discourages people in the channel from being too outspoken in their critiques.

Spelunker, Valis Co-Founder & CPO, responding to Come-from-Beyond: “How to fix this problem, any ideas?”:

There are some low hanging fruits. Look at how many people has access to the channel. Do they really need to be there? When I was in that channel, before being kicked out for being outspoken about SteCo's performance, I noticed that members are probably well above 30. Thanks to Discord permissions, many with access don't appear in the "on this channel" list.

oppa (Greek letter):

Why @Come-from-Beyond don’t say a word about valis project, and this guy Spelunker?

Spelunker, Valis Co-Founder & CPO:

Maybe, but CfB asked here.

tomsar:

Although it is secondary really. The only pumps we have had were for exchanges and cat jpegs.

Spelunker, Valis Co-Founder & CPO:

Not true. Ask @TrustInCode.

TΛO (permanent victim)

And why is dumping now? Coincidence?

tomsar

He drove the cat JPEG’s. There were no other meaningful pumps. So it ain’t insider trading. And it ain’t development as you say. So process of elimination - what’s next?

Spelunker, Valis Co-Founder & CPO:

What's next is asking TrustInCode.

TrustInCode, SteCo Advisor who led a SteCo-orchestrated pump and dump:

No comment.

Spelunker, Valis Co-Founder & CPO:

Of course.

TrustInCode, SteCo Advisor, who led a SteCo-orchestrated pump and dump:

I'm busy reviewing marketing plan.

neener neener:

how come no one asked when marketing will release what cfb just told them? :cfbtroll:

Tom55, SteCo Member, responding to Spelunker, Valis Co-Founder & CPO: “No more troll faces, kiss emojis, sarcasm, and time outs?”.

thank you for your kind response. you are right. cause defamation is a directly bannable offence. feel free to appeal with prove. (posts a screenshot of the Spelunker’s comment:)

Having access to the marketing-execution channel provides a clear advantage—any seasoned trader knows this. So, if you're looking to benefit from insider information (like the next exchange listing, major announcement, or timing), it’s in your best interest to do whatever it takes to stay in that channel. SteCo members are aware of this and use “access” as a tool to co-opt people into an unspoken agreement: stay agreeable, and you’ll keep your access—and your gains. This setup is problematic because it discourages people in the channel from being too outspoken in their critiques.

Kovuh:

before oct 9th

Spelunker, Valis Co-Founder & CPO:

Should I post screenshots from marketing-execution?

Epsilon 2.0:

please guys stop

Come-from-Beyond, Founder of Qubic:

I'm afraid you should

Yesterday, SteCo banned #Valis from the #Qubic Discord, ending our chances at CCF funding. We are shutting down all our services effective immediately. All codebases are open source. We remain committed to Qubic and will seek private funding to continue operations.

Come-from-Beyond, Founder of Qubic:

Even if there was CoI, Tom did it in a too soft manner. Defamation against a group of people can incite hatred. Such deeds are criminal offence. Serious enough for a straight ban without warning.

Come-from-Beyond, Founder of Qubic:

So you trying to find excuse to a statement which probably incited hatred towards all 4 people in the mentioned group despite of not more than 3 of them being involved in that questionable practice? (0 were involved IMO, but I take your assessment as axiom). Responsibility of a single person for actions conducted by a group is in the list of top crimes among genocide. It's condemned and prohibited by many international conventions. You stepped on a wrong path, Lex. Sad.

We present evidence of a pump-and-dump scheme orchestrated by the Qubic Steering Committee (SteCo). We understand this may be upsetting, but we ask that discussions remain respectful and fact-focused. https://valis.xyz/en-us/blog/good-morning-exit-liquidity #crypto #tickchain #qubic #valis

Come-from-Beyond, Founder of Qubic:

Thank you for your opinion. Incitement of hatred is permanent ban in this discord without warning.

b1b4a:

Ban - beautiful memories

Come-from-Beyond, Founder of Qubic:

Even if Spelunker finds a mod who will unban him, I'll ban him again and will be doing so until he provides proof of his claim. So not much to discuss.

Column 1 (SteCo Announcement):

Introducing the Qubic Incubation Program Qubic Incubation Program provides initial funding and support for developers to bootstrap their projects. By providing initial funding, developers will have crucial support in the early stages of development. Developers selected for the program will receive funding from the Qubic Ecosystem Fund, which currently has 200 billion QUBIC available. The program will incentivise development of innovative for-profit projects and contribute significantly to the further growth and adoption of the Qubic network. Current Projects Several projects are currently underway. They include: - QX UI: The user interface for QX, the Qubic decentralised exchange (DEX). - Liquidity Pools: Smart contracts that will pool coins to be swapped. - Custom Bridges: Bridges facilitate transferring coins between the Qubic (non-EVM) network and the Ethereum/Arbitrum One networks. Support for additional networks is underway. - Launchpad: A dApp for fundraising which allows community members to launch their own tokens and projects within the Qubic network.

Column 2 (Valis Projects):

- SteCo-funded Qx UI vs. Valis Wallet running on Valis Network (Delivered). - SteCo-funded Liquidity Pools vs. Valis Liquidity, a.k.a. VLIQUID (In process). - SteCo-funded Custom Bridges vs. Valis Stablecoin (To be done).