As we approach the end of 2022, we want to give you an outlook on what will happen in 2023 and our release plan.
During the last couple of months, we have tested our Collector application and the TAP network extensively. We have made huge progress not only in the Collector but also in the entire network. This would not have been possible without the tireless support and help of our Beta Testers. So, a big thanks to you all!
Where do we stand today?
Collector: We’re releasing an updated version of the Collector before the end of this year. This version will now, in addition to the webpage’s text, also send any images that it finds. To reduce the data size, the Collector uses compression for the text and image size. As well as colour depth reduction for images before it sends the data to the GeoCore.
GeoCore: Speaking of the GeoCore, we have completed the TAP network protocol. Which is now fully integrated into the network. The GeoCore is the core application that coordinates communications between Collectors, Guardians, the search webpages and APIs.
TAP: This protocol is developed in-house, and we’re applying for a patent for the TAP. (To find out more about TAP read THIS article)
The Guardian: This node is our storage. We will start giving our testers access to the Guardian software very soon. Our last version did not pass our internal security tests which is why we had to delay the release. However, we have started deploying Guardian instances run by us to begin storing the index for the next phase of our program.
What does all of this mean? It means we are getting ready to launch!
Launch plan 2023
In Progress: Closed beta web search
This phase has started, and we have opened the application for the first beta testers of our web search. If you haven’t signed up, please head to our discord and sign up. Beta testers will have access to the web search in the 2. week of January. This phase will help us fine-tune the algorithm and any additional functions our web search offers. At this point, the web search page does NOT have the final design. Rather a simple white page, mainly used to complete the backend functions.
March 2023: Friend & Family phase
We will show Timpi’s UI/UX to the world. Ok, not quite the world but our friends and family. This gives us vital information about the final design. On top of keeping users’ privacy hidden, we are also delivering a unique and fresh approach in how we show the search results.
April 2023: Community & Partner Beta
Timpi’s community and our partner’s communities get the opportunity to experience Timpi’s search. Not only can they access Timpi, but partners can invite people from their community to join Timpi — A new way to search.
May 2023: Influencers Beta
We invite influencers from around the world to test and talk about Timpi. They can access Timpi and create social media content that will help us reach a larger audience.
June 2023: Private Beta Launch
In this and the previous 2 phases, we will have events and contests that allow anyone to win an invitation to the private launch. Here, many people can see Timpi and experience why we are different.
July 2023: Public Beta Launch
We are open to everyone. While still in Beta, we launch Timpi search and open up to the world. The Beta will continue till the end of 2023, and we aim to exceed Bing’s index size during this time.
Thank you all for your support, and let us know if you have any questions.
As many of you will know, there have been delays to our original plan to move into the second round of fundraising. Whilst this has meant a delay to our round 1 investors receiving their tokens, there has been a significant positive impact for both round 1 participants and Timpi itself.
During these delays round 1 participants have been able to protect themselves from the market conditions. The price at which they bought the tokens is still the same. Whereas the market has lost over 80% of its value since the first round, Timpi has lost 0% in this period and when we launch, we will be doing so at a positive price increase to our first round. Also let’s not forget about the 10% APY round 1 participants will receive during the delay. More on this later.
There have been 3 core reasons for the delay to the second round
Change in fundraising strategy
Development of Strategic Partnerships
Due to market conditions, we have made the decision to seek funding from venture capital. This has taken us on a very enlightening journey and one that has now put us in the amazing position we are in now.
However, in order to initiate conversations with VCs and other strategic partners, we needed to register a business in a crypto-friendly place so that they have an entity to which to do their due diligence against. For the crypto side of the business, we have now registered in Vanuatu, with the holding company being held in New Zealand. We have formed an organisational structure now that works for the short-term and also the long-term global rollout of Timpi. See update below on the business structure for more information on this.
A substantial amount of work needs to be done preparing for conversations with VCs. They are looking for high-calibre projects that have a great product, team, and future. It has been our job to show that we have all of this and much more. The VC raise is underway, and we have already had commitment of funds. This is growing every week as we talk to more VCs. The response we have had is overwhelmingly positive, and we have the attention of some very influential VCs that will be able to bring a lot to Timpi, not just from a funding perspective but also skills, resources, and partnerships.
When is the Token Generation Event (TGE)
Our previous plan to launch this quarter will be delayed due to the aforementioned items above. The time frame for TGE is significantly dictated by the duration of the time VCs need to make decisions. Typically, this can take anywhere from 2 to 6 months.
We started our conversations with VCs 1 month ago and have already had commitment of funds. We expect that we will be raising funds over the next 2 to 4 months. This will align nicely with our release plan for the search engine, Joerg will be releasing an update on this in the next couple of weeks.
10% Reward for delay
Because of the delays we have experienced, we are pleased to be able to reward our loyal supporters from round 1 with a 10% APY on the tokens they have not yet received. This will continue for the duration of the delay.
Token Distribution before TGE
As there is a delay in TGE we would still like for our round 1 participants to take ownership of their tokens. Because of this, we will be looking into distributing the tokens before we TGE. These tokens will be distributed to participants’ wallets. Please note they will not be tradable or transferable until TGE.
Valuation and Supply
When we first reached out to Venture Capitalists, all had the same feedback firstly, that we are significantly undervaluing ourselves and secondly, that we should look to raise more funds to ensure the ongoing success of Timpi entering the market.
In order to address these points, we are increasing our supply from 200m to 400m. This will enable us to ensure that we have the liquidity to raise the funds that we need and set our valuation to one that is in line with market expectations.
The first thing to point out is that round 1 participants WILL NOT BE DILUTED. You will receive 2x your original amount due.
The TGE price will be set once we have finalised the VC round in conjunction and with consensus with all the VCs that have come onboard. What we can say is that there will still be at minimum the effective 15% above round 1 price.
Summary for round 1 participants:
You will receive 2x your tokens which is aligned with our increased token supply.
You will continue to receive 10% APY for the duration of the delay to TGE.
TGE price is still at a minimum, targeted for effective 15% above round 1 (includes dilution).
You will receive your tokens ahead of TGE, but they will not be transferable until TGE.
Business Registration and Structure
There have been significant delays in our ability to move forward with strategic partnerships, mainly due to the business registration of Timpi Ltd in Vanuatu. This has taken over 3 months to register but has now been fully formed. In contrast to the holding company (Timpi Holding) that is registered in New Zealand and took us just 2 hours to register.
We appreciate the overwhelming support we have had for the decisions that we have made over the last few months. However, we do also understand that there are a few that bought tokens relying on the fast launch that we originally planned, and this is why we made the decision for the 10% APY.
Please consider that we need to make decisions that are for the betterment of Timpi’s future and our token holders. Sometimes this means making hard decisions that we know not everyone will support, but we cannot make business choices that we know will impact the token and business negatively. We believe in what we are doing and the impact that it can have on the global stage, so will continue to make those hard decisions to ensure Timpi becomes a reality for everyone here.
With the crypto market having suffered significant losses over the last 6 months and bad players coming to light every week, Timpi is holding strong and will be seen as a shining light within the crypto market very soon. We will endure the winter and continue to go from strength to strength. Be strong and continue the fight for information freedom.
We are excited to announce that Timpi has been accepted to be part of the Cosmos Interchain Builders program!
What is the Cosmos Interchain Builders Program?
The Cosmos Interchain Builders Program is a mentorship program that provides structured support and access to a wide network of partners. The program offers participants the opportunity to receive guidance from the Cosmos team, as well as other mentors in the space. The goal of the program is to provide entrepreneurs with the tools and resources they need to succeed.
The program is “made by builders for builders, linking together [our] team of entrepreneurs, software engineers and designers with years of experience in building and launching chains”.
What services does the program offer?
The Program helps teams navigate the ecosystem by giving access to Cosmos’ large network and wide range of services. They support projects with:
– Incorporation and Fundraising Support
– Marketing and GTM Strategy
– Tokenomics & Token Distribution
– Network Bootstrapping (Validator Nodes)
– Engineering, Product and UX Development
– Community & Governance
– Access to investors and infrastructure partners
How does this partnership benefit Timpi?
Being part of the program will benefit Timpi in two main ways. Firsly, we will receive technical support to progress the project. Secondly, it will enable us to make connections and build relationships.
The technical support ensures that our blockchain follows Cosmos’ best practices. Also, through this program we have access to vetted auditors to ensure it is secure. Further, when we launch, we will need validator nodes (as Cosmos is Proof of Stake) to run our blockchain. Priority to run validator nodes for the TimpiChain will be given to our community. But we will also have validators within the Cosmos ecosystem available should we need it. Even mature projects like Timpi canutilize the validator network that’s already established in Cosmos. Our validator nodes will need Timpi tokens, so the moment we create our network we will also create the Timpi tokens.
Being a partner in the Builder Program will also enable us to build relationships with various projects within the ecosystem. We are hoping that these connections will blossom into long-term, mutually supportive relationships.
We are grateful to have such strong support behind Timpi as we develop and prepare to launch our testnet and mainnet in the upcoming weeks.
You’ve heard us claim that Timpi is the world’s first decentralized search engine with its own index. Perhaps you raised an eyebrow. Aren’t there other decentralized search engines out there?
We told you that we will focus on your privacy. You wondered, doesn’t Brave and DuckDuckGo already do that?
You may probe us and wonder what sets Timpi apart? Why should you pay attention to us in a sea of competitors?
We hope that by the end of this article you will have a clear answer to these questions. And you will see how Timpi is different from all our competitors and how we are revolutionizing the search engine market.
Search aggregator vs search engine indexing (web index)
To answer these questions, it is paramount that we make a clear distinction between a search aggregator and a search engine index, or web index.
A search aggregator is a type of metasearch engine that gathers information from many search engines.
On the other hand, a search engine index is the database of web pages from which a search engine aggregator draws to populate its search results. It uses complex and interdisciplinary concepts. These include linguistics, mathematics, informatics, cognitive psychology, and computer science.
The main issue we face when we attempt to make a distinction between Timpi and other search engines is that often search aggregators are referred to as search engines (because they are a type of metasearch engine!). This means that much of what we call search engines on the market are in fact search aggregators.
Search engine indexes (web indexing)
So, when people ask us about our competition, they often refer to search aggregators. However, search aggregators aren’t our competitors — our true competitors are web indexes.
In fact, there are only four large scale and well-maintained web indexes in the world. Yes, you read that right. Only four. Google, Bing, Yandex and Baidu. Most other search engines pay one or more of these corporations every time they search their web indexes. For example, DuckDuckGo takes its search results from the indexes of Google and Bing. Thus, we can’t, in the true sense of the word, qualify them as running their own search engine since their search results are provided by Google & Bing and are not their own!
Is Timpi a search aggregator or a web index?
Timpi will be one of only five web indexes and the only decentralized one on the market. We are not, however, a search aggregator. Now that we made a clear distinction between a search aggregator and a web index, let’s return to what sets up apart.
Often there is a confusion when it comes to decentralization of search engines and between Timpi and Presearch.
The difference between Presearch and Timpi, is that Presearch runs a decentralized advertising platform, while we are the world’s first decentralized search engine index. Presearch gets their search results from centralized web indexes.
Timpi’s proprietary decentralized network will allow us to compete globally within a monopolized industry. This is not just wishful thinking. We know that we can do this as our beta tests have shown that our network is already capable of indexing 5 billion pages every 48 hours!
As for the other search aggregators and search engine indexes — they are all centralized.
The other significant aspect of our decentralization will be our decentralized governance. This is unlike anything that is out there. Our community will play a central part in our decision-making process. The community will also determine Timpi’s future and how content will be ranked. This will be done through TAG (Timpi Autonomous Government). You can read more about TAG HERE. Our decentralized governance model is completely unique in the search engine market.
Timpi’s decentralized platform is not hindered by large upfront costs in centralized infrastructure. Nor do we need large teams to run it. We grow incrementally as our popularity grows; rewarding those that support the network. Decentralization is secure, immutable and is governed by $TIMPI token holders via TAG.
Independent search engine index (web index)
TAP (Timpi Autonomous Protocol) is our proprietary communication protocol that It will be run by our search engine infrastructure. TAP is an article for another day, but essentially this protocol allows the search network to run autonomously.
We achieved 2 billion indexed pages per week with only one GeoCore during our beta testing. When we go live, we will have about 200 GeoCores! At this point our web index will be more extensive and accessible than BING’s. That’s huge.
When Timpi launches its beta search engine in Q1 of 2023, it will join the big players: Google, Bing, Yandex and Baidu. We will be the newest members in an exclusive search engine club that operates their own proprietary web index. With the difference that we will present users with truly independent access to the web.
Timpi’s capacity to collate and maintain an independent web index cannot be understated. There are many data aggregators that have abandoned previous indexing projects (including DuckDuckGo). This was due to unsustainable costs and external data storage solution’s inefficiency. Timpi’s decentralized network capabilities set it apart.
Impartial search results
Timpi’s ethical mission is to produce search results which are objectively factual and subjectively representative. Without agenda and absent of commercially motivated intent. Our team’s approach is to ensure that Timpi always shows all sides and facts of a particular topic. We have no motive to promote any political, religious, or societal agenda. Instead, we allow society to collaborate, curate, or find consensus on any given topic.
For this reason, we are developing a rating system that will enable users to influence search results and rankings. This, combined with TAG (read more HERE), will mean that our search results will be truly impartial and in the hands of the people.
Decentralization enables us to scale quickly. Even more, through our TAP this happens autonomously and in real-time.
Protects privacy & no user tracking
When you use Google, it tracks you. If you use other search aggregators that use Google’s index, Google might still track you. So, even if you use a different search aggregator, your privacy can still be unprotected. Unless they have specific arrangements with Google not to show ads, or if they have an in-built ad filter, or another way to prevent you from being tracked. DuckDuckGo and Brave are two aggregators that have these kinds of security measures set up. Most others, as far as we know, don’t.
Low carbon footprint
Decentralization, combined with our system requirements, mean we have a low carbon footprint. Afterall, our system can be run on any computer with the right specs that is already in use. In fact, computers can be switched off and not be in use 24/7 if we have a large enough web of node operators. This makes us have a truly low carbon footprint.
Like Brave or Presearch, Timpi rewards its users. With Timpi, users can collect $TIMPI for reviewing websites.
A final word
We discussed at length what sets us apart from our competition. It is important, however, to mention that we don’t see our competitors as “competition” per se. The search engine market, let’s be frank, is completely dominated by one player: Google.
Google owns 95% of the search engine market. They would love us all to compete against each other. But our philosophy is different. Many search engines are working together towards a common goal — to make this space better for the end user.
Timpi wants to work with and support other search aggregators and search engines, so they can move away from Google’s index to our unbiased and decentralized index instead. As a bonus, this move would fit many of their brands better, such as Brave or DuckDuckGo.
When we are at a web index size to compete with Bing or Google there is no reason why other search aggregators shouldn’t use our API layer instead of what they use today. And that is much sooner than many think.