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Project Mycelium Community Call — Full Transcript​

(Original duration: ~1 hour. Speakers include Kristof (lead presenter), Mik (host/moderator), and several community members including Karl, Bruce, Libby, and SwissFold.)

1. Opening & Technical Setup​

  1. ..(Meeting begins — local recording started)...

2. Introductions and Context​

Kristof:

Thank you all for joining — it’s going to be a very interesting one tonight. I’d like to ask whoever can to turn on your video — it makes it so much easier to see the faces of people we’re talking to.

We’ve done a lot of preparation. I’m really happy to see people here who have believed in this vision for a long, long time.

I want to start by saying: it’s taken a long time — much longer than we had hoped when we started. But right now, we’ve reached a stage where we can go commercial, and things will begin to move much faster.

That means we must stop doing some of the things we used to — not in a negative way, but simply to learn from what hasn’t worked.

As you know, the first 1 billion tokens have already been minted. Now, we need to move into the next phase.

I also want to acknowledge everyone who contributed — whether through time, hardware, money, or other efforts. It’s our full intention to make sure that energy and effort bear fruit, and that everyone feels appreciated.

Please make this meeting interactive — ask questions. There will be new terms and ideas. I want us to focus on the future rather than the past because we’re at a critical turning point. We have a solid plan, and now we must execute it together.

3. Rebranding and Purpose of Project Mycelium​

Kristof: Great. Let’s start. I’ll show you some slides.

We’ve been speaking to the crypto community for quite a while now — and we even managed to raise some financing. We’re very grateful for that, and we made a lot of new friends, which is fantastic.

But we also learned something important: we’re a different animal. For many investors, it’s hard to understand who we are and where we fit.

There’s history, there’s an existing token — and objectively, that token isn’t doing well. We want to honor all commitments, but that has made fundraising very difficult.

So, back in September, as I mentioned in a previous call, we began fundraising for our company itself, because we need to pay salaries and keep the team going. That’s been progressing well.

We’ve received valuable feedback — from you, from investors. One comment we heard often was:

“Right now, this feels like a platform for techies. End users don’t know how to use it. You need to fix that, and you need to fix your communication.”

And they’re right. So that’s what we’re doing.

Our new platform (Version 4) will launch under a new name: Project Mycelium (previously referred to as Miscellaneum).

The name comes from an early component of our network we called Mycelium, and people loved it. So, we decided to keep that identity.

The project has multiple phases, hence the name “Project Mycelium.”

4. Philosophy and Community Vision​

Our goal hasn’t changed at all. It remains what we set out to do years ago:

To build a credible, decentralized alternative to Amazon, Google, and Microsoft — not to compete, but to complement — creating a truly sovereign system.

Many of us have been at this for a long time. We were too early, way too early. But now, finally, people understand.

Wherever we go — I just had incredible calls again today — people get it. It’s no longer about convincing the world why this needs to exist, but how to do it.

One of our tactics: show companies and people how to turn their infrastructure — their cost centers — into profit centers. That story lands well. People understand it immediately.

We prepared a small e-book for this meeting; it contains key slides.

We’ve always known we were different, but I want to emphasize it again because it’s crucial that we all share the same belief. Sometimes in the past, that alignment wasn’t perfect. Yet the community has kept going, and I’m very proud of that.

So let’s clarify what we stand for:

  • Digital sovereignty
  • Proven, open-source technology
  • Real-world utility over speculation
  • Stable dual-token model (finally being executed)

We’re also renaming some things. For example, our new token was previously called INKA, but people told us that’s not ideal — Inca represents a “dying civilization.” We listened. We adapt.

This is not about new ideas; these ideas are old. But we’re now executing them better and in a way that can succeed.

Yes, it took too long. But now is our time.

Today we’ll show you all the pieces we’ve prepared — not hype, but real work. We’ll make mistakes, as always, and we’ll learn. More people are joining us every week.

Where we must improve is clear: communication, documentation, community collaboration, and commercial execution.

5. Fundraising Reality and Communication Improvements​

We often hear the complaint that “you don’t communicate enough.” It’s true. We’re so busy coding and building that we neglect communication.

That has to change. And we’re asking for your help with that — learning how to do it better, together.

Now, let’s do a reality check.

Our project is ambitious, yes — but it’s also very timely, especially now with AI transforming the landscape.

Key Questions We Ask Investors​

  1. Do you believe it’s important that a true alternative to centralized clouds be built?
  • If the answer is “no,” then maybe you don’t need to be here.
  • If it’s only about token speculation, this isn’t the right project.
  1. Do you know of anyone else building a truly sovereign alternative, with their own tech stack, hardware, and OS?
  • Probably not. (And I wish there were more.)
  1. Are we ready to execute?
  • Yes.
  • But execution means we need everyone to get active again, deploying nodes, not just watching.

We’re currently losing nodes, and that’s not acceptable.

The good news: we have both offtakers (buyers) and hosters (providers) ready. Some projects involve 100–200 nodes, others are $5 million+. These are real commercial deployments — decentralized, yes, but at scale.

We also have AI nodes and non-AI nodes.

Now, if some of you are nervous about token performance or communication gaps, know this: we remain committed to the community, but we must add commercial momentum to scale.

To truly compete with the big players, we need millions of nodes, not thousands.

6. Technical & Commercial Roadmap (Version 4 Overview)​

AI has changed everything. The market is now trillions of dollars. We just need to carve out our space in it.

We learned to pitch differently — simpler, more concrete:

“Centralized data centers are huge, vulnerable, and energy-hungry. The alternative is small, distributed nodes and containers near users.”

That resonates with investors.

We now have a clear funnel and roadmap, with lead investors in discussion.

Deployment Tiers​

  • Tier-S: Container data centers ($5 – 20 million each)
  • Tier-H: Home or office boxes (the small nodes)

The containers are for larger co-producers and partners. The Tenstorrent workstations are amazing — about 2× as fast as NVIDIA at the same dollar value for larger units.

Even small $2,000 boxes can now run decent AI models. The hardware landscape has caught up with our vision.

7. Deployment Strategy and Partnerships​

Interlaken (Switzerland)​

The first container will be built in Interlaken by a local company (name under NDA). Funding for it is committed; the preparation work is done. Expected live in 4–6 months. Cost: $5 million.

Pipeline of Projects​

  • Zanzibar Digital Free Zone
  • Education Platform
  • ICA (International Cooperative Alliance) – massive rollout potential (1–2 billion people)
  • Kenya – micro-grids project
  • South Africa – renewable energy projects
  • France – municipal data initiative
  • Floating Solar + Water Systems

There are 6 offtakers and 6–7 hoster projects already active.

We’re also in dialogue with hardware partners like Tenstorrent (NVIDIA alternative) and others, allowing us to run inference cost-effectively with or without NVIDIA.

8. Tokenomics and Economic Model​

Let’s move to the tokenomics.

We’ve updated our model — incorporating community and investor feedback — and we now have a solid iteration.

The dual-currency system is based on Spore and AUR:

TokenTypeFunction
Spore (SPORE)Variable, deflationaryReward token for hosts, burnable
AURStable, gold-backedPayment token for users, entry point

The design draws from Bernard Lietaer’s Yin–Yang currency concept.

  • AUR – the Yin currency (stable, backed by gold).
  • Spore (SPORE) – the Yang currency (variable, burned as it circulates).

9. Conversion from TFT, Auctions, and Burning Mechanics​

For TFT Holders​

Each 1 TFT can be exchanged for 10 Spore, while keeping your TFT if you prefer.

Spore is valued at $0.01 USD (in gold equivalent). This means TFTs effectively gain a 20× uplift compared to current market value.

This also implies a $100 million valuation for the project — a fair and stable starting point.

Earning Model for Farmers​

  • Hardware divided into “slices” (like pizza slices).
  • Each slice can be rented independently.
  • A bidding system ensures constant baseline demand.
  • ThreeFold/Mycelium treasury places continuous bids — guaranteeing base revenue for farmers.
  • Farmers can still earn more through private clients on the marketplace.

Revenue Split​

  • 80% → to farmers/hosters (paid in Spore)
  • 10% → burned (deflation)
  • 10% → project margin (Mycelium/ThreeFold)

Deflationary Mechanics​

  • Every transaction burns 10% of Spore, reducing supply.
  • As capacity demand grows (AI workloads, storage, etc.), token scarcity increases, pushing value upward.

Liquidity & Auctions​

To prevent dumping, liquidity will be managed via weekly Dutch auctions:

  • Buyers and sellers submit bids.
  • The clearing price is where total buy = total sell.
  • All orders execute at that single price.
  • 0% fees.

The treasury acts as stabilizer — placing both buy and sell orders using a small percentage (around 5%) of the liquidity pool each week.

This ensures value protection: the system prioritizes valuation stability over liquidity.

10. Demonstration: Mycelium Cloud Platform​

Kristof (screen-share):

This is our first user-friendly cloud interface, built by the team — very simple and commercial.

  • Users can deploy their own Kubernetes clusters.
  • Manage payments, billing, and SSH keys.
  • Pay via credit card or stablecoin.
  • Select nodes (GPU or not), regions, and configurations.
  • Monitor cluster health and metrics.

Everything is connected through the Mycelium Network, including VPN and DNS.

Let’s deploy a cluster together:

  1. Create cluster “MIC1000.”
  2. Choose 2 masters (redundancy), some workers.
  3. Pick locations.
  4. Click Continue → deployment begins.

Within minutes, a full Kubernetes cluster is live — something that takes much longer in other clouds.

Next, the Virtual Data Center (VDC) layer will make deploying entire applications just as easy — selecting from verified nodes, even community nodes like Nelson’s machines.

11. Q&A Discussion​

Karl: Have you built a container prototype yet, or is it still conceptual?

Kristof: The first one — in Interlaken, Switzerland — will be real. The preparation work is done. It will cost about $5 million, and should be operational in 4–6 months. More are planned, but we need funding to scale production.

Libby: Can I participate?

Kristof: Of course. We’ll need validators later, but not yet. Originally, we wanted to deploy on Cosmos, but it turned out more complex than expected. So first, we’ll decentralize governance through cooperatives, then revisit validator roles.

Question (chat): Which blockchain will host Spore and AUR?

Kristof: Initially, we’ll use our own backend. Later, we may migrate to Peak (Ethereum-compatible) or another chain depending on funding and ecosystem alignment. We could even run our own open-source chain on our infrastructure.

Bruce: When will the new token go live?

Kristof: Target date: January 1st. We’re running out of the old token’s capacity, so it’s time to transition.

12. Community Participation and Next Steps​

Next week, we’re meeting on the Nile with all engineers — including new Polish developers — to finalize decentralization and remaining tasks.

This isn’t just a ThreeFold project anymore — it’s a community-driven system. We’ll have commercial partners joining soon, adding momentum.

Let’s stay realistic: it’s a journey. There won’t be instant liquidity; farmers and hosters get priority, as they have energy costs. But the auctions will provide liquidity gradually.

We’ve worked on this for six months intensively, incorporating everyone’s feedback. Now we’re close to the final iteration.

Community To-Do​

  • We’ll publish a bucket list of open tasks (possibly on GitHub + forum).

  • If you want to contribute or develop, reach out.

  • We can’t pay immediately, but treasury tokens and later funds will be available.

  • We especially need people skilled in:

  • Community outreach

  • Marketing / influencer relations

  • YouTube or tech review content

  • Farmer relations and onboarding

We’re missing contact info for many old farmers — no emails were collected early on. If you know farmers, reach out so we can include them in this migration.

13. Closing Remarks and Summary​

Kristof: We’ve spent an hour together. Thank you all for joining and for your patience.

This is the moment we’ve been waiting for — time to make 2026 the breakthrough year. Let’s combine community and commercial energy, protect the new token, and finally align economic logic with the mission.

We’ll continue improving documentation and outreach. Farmers will be prioritized; liquidity will grow organically. The system is built to protect long-term value while rewarding real utility.

Let’s keep up positive momentum in all chats, support new members, and drive the migration from where we are today to the next version of our ecosystem.

Mik: Thank you, Kristof, and thanks everyone for joining. See you at the next session.

Kristof: Thank you all. Bye-bye.

(Meeting ends — local recording stopped.)

✅ End of Transcript Edited for clarity and structure. All factual, financial, and technical details preserved in full.

You can find the raw recording here.