Casper X Space returned with a packed session with valuable updates from the Casper Association CTO Michael Steuer. Read our recap to stay updated on recent developments and Casper’s direction forward.
You can access the recordings of this space on our X account.
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Shedding light on the recent focus and organizational changes within the Casper Association, Michael said: “Transitioning of core engineering fully to the Casper Association was a top priority,” and explained the background as well as the reason for these changes:
“Initially responsible for protocol development, Casper Labs focused on enterprise clients after mainnet, while engineers were contracted back to the Association via an SLA to maintain the public network. However, as Michael noted, engineers had a reporting structure that put Casper Labs in a middleman position,” he said.
Now that the Casper 2.0 development has been streamlined under a unified team, the development process will continue without any inconsistencies. “We conducted a comprehensive review, creating a ‘single source of truth’ that identified completed and pending tasks and centralized information for clearer tracking,” said Michael regarding Casper 2.0.
This effort required an extensive review across multiple sources of scattered and, at times, duplicated information. “We clarified the Casper 2.0 release scope, categorized pending and future features, and consolidated project management cycles,” said Michael, and now, the team is finalizing open pull requests, aiming to cut Release Candidate 5 by the end of this sprint.
Michael also implemented a change back to semantic versioning, “Condor only refers to the 2.0.0 release.” Going forward, minor releases (e.g., 2.1) will add new features, while patch releases (e.g., 2.0.1) will handle bug fixes.
Michael explained that one of the most important goals for Casper 2.0 is ensuring it integrates smoothly across the entire Casper ecosystem. “Finishing core engineering is just the first milestone,” he noted. “Backward compatibility is critical as we don’t want Casper 2.0 to break the entire ecosystem.”
Minimizing disruption is part of Casper’s commitment to keeping the development process as frictionless as possible. Several changes have been made to the way key features are implemented in Casper 2.0. Additionally, close collaboration with SDK developers is underway to ensure smooth adaptation for apps, wallets, and platforms. Once Casper 2.0 is activated CSPR.cloud and CSPR.click; tools that many developers rely on, will continue seamlessly.
One of the priorities Michael highlighted was to position Casper as a competitive option for mass-market and DeFi applications. While historically perceived as enterprise-oriented, Michael said that Casper’s technology and developer ecosystem are suited for broader use cases: “Our technology is competitive in the broadest sense of the word,” he said, making clear that Casper’s tooling is a strong differentiator among non-EVM chains.
To support DeFi growth on Casper, we launched the Casper DeFi working group, which recently held its first meeting with more than 30 projects. The group will meet monthly to discuss ways to strengthen DeFi on Casper, analyze gaps, and identify collaboration opportunities.
“I engaged directly with numerous DeFi developers, both those already in our ecosystem as well as those outside, about developing new apps on Casper, and to discuss ways we can improve the attractiveness of DeFi on Casper Network. The results of many of those conversations are expected to see the light in the next few weeks and months,” he concluded.
Michael has prioritized making himself available, regularly participating in chats, organizing AMAs, and implementing more transparent community management guidelines. He shared, “You guys are the network. Without community, nothing else matters.”
Read the AMA with the Interim Board.
Since its launch, CSPR.fans has brought in over 400,000 users. Over 6 million tasks were completed in its first month, many of which included social amplification and interactions with Casper’s ecosystem.
Due to this success, Michael announced that the program would renew on November 1st with doubled rewards, acknowledging the community’s role as “great ambassadors of the Casper Community.”
Michael introduced the Casper Association’s new approach to governance, which aims to make the network more community-driven. Here is the outlined multi-phase decentralization process:
He noted that the process of decentralization is underway, and is expected to conclude in 2025.
Michael acknowledged the recent rebranding of Casper Labs to Prove AI and choosing Hedera for future projects. He explained that Hedera presented a business proposal that Prove AI could not ignore, stating, “While regretful, it is the unfortunate reality in business that no partnerships are eternal.”
Prove AI’s decision was strictly business-based and unrelated to Casper’s technology. Michael also shared that Prove AI is expected to donate most of its remaining CSPR treasury to the Casper Association.
Michael concluded by sharing future plans, starting with the upcoming Casper 2.0 rollout. “The team has reached feature completion and is now focusing on testing and ensuring downstream compatibility,” he said.
Casper is welcoming Router Protocol, which will connect Casper to over 30 chains, and Helix Markets, expected to launch alongside Casper 2.0.
A new liquid staking product is in the works, supported by partners Odra, Shiboo, and Router Protocol. This product will enable cross-chain liquid staking and offer investment opportunities to users on other networks.
Talks with Sarson Funds and Circle are ongoing to enhance stablecoin support, and the Casper team is in discussions with Friendly Market, the leading DEX on Casper, about enhancing user experience.
Korale AI will launch on Casper in mid-November, it is the first fully AI-based token minting platform that allows users to describe the functionality of a token in plain language, and Korale will write the source code for your smart contract, compile it, and deploy it to the Casper Network for you.
On the developer support side of things, a completely new documentation portal at docs.casper.network has been launched recently and soon will host much more detailed Casper 2.0 information.
New token standards are being completed, as we are about to open source the CEP-85 standard, which is Casper’s implementation of a multi-token standard, and akin to ERC-1155 on EVM chains. It allows for fungible and non-fungible tokens to exist in the same smart contract. “We cannot wait to see what our ecosystem developers will build with it,” concluded Michael.
Casper Association CFO Matt Schaffnit joined Michael during the live community Q&A session.
Q: What will happen to the remaining CSPR tokens held by Casper Labs? Will they be burned or airdropped to holders?
Most of the remaining CSPR tokens currently held by Casper Labs, now known as Prove AI, will be donated to the Casper Association. There are no plans to burn or airdrop any of these tokens.
Q: Are the previous NDAs with Casper Labs still active?
I don’t have direct knowledge of those historic NDAs, as I have been outside the Casper Labs team since 2019. My understanding is that the NDAs referred to proof-of-concept projects Casper Labs pursued with specific companies. If those projects are now public, the NDAs may no longer be relevant. However, this is only my deduction, not an official statement on behalf of Casper Labs or Prove AI.
Q: When will Casper Labs' treasury be transferred to the Casper Association, and what is the total amount?
The remaining CSPR held by Casper Labs/Prove AI will be donated soon. The amount will be made visible on-chain, but we currently don’t have a specific figure to disclose.
Q: Is ACTUS still in play?
Yes, ACTUS remains active. This foundation supports a standard that has the potential for industry-wide adoption, bridging TradFi and DeFi. We have a strong relationship with the foundation and are optimistic, although I’m unaware of any imminent product launch.
Q: Is the WEF (World Economic Forum) partnership still active for the Casper Network?
The partnership was primarily between Casper Labs and other firms at the WEF Blockchain Hub. The Casper Association participated in events and showcased projects like ACTUS but was not directly involved in financial or operational support for the WEF.
Q: Is Casper Network part of the DeRer Alliance?
Yes, Casper Association is, and will remain, a member of the DeRec Alliance.
Q: There are reports of people being blocked by Casper Network for criticizing the handling of the hack. Could you address this?
During the July-August network attack, we informed the community transparently, sometimes twice a day. We are unaware of anyone being blocked solely for asking questions about the hack. The decision to halt the network was based on input from a decentralized group of validators. The Association is working with law enforcement to recover blocked funds, though it is a lengthy process. If anyone believes they were unfairly blocked, please reach out to us on Telegram, and we will address it.
Q: Will the Casper Association allow the community to vote on changes to CSPR tokenomics, like implementing a max supply or a deflationary burn mechanism?
With the new and interim board in place, clear steps are being taken to ensure community involvement in governance. Validators, token holders, and other stakeholders will have a say in the blockchain’s development, specifically around inflation rates. Configuration changes can be implemented through delegated proof-of-stake, with validators acting on behalf of the community.
Q: What plan is in place to attract developers en masse?
Our goals include building a solid blockchain foundation for multiple industries and focusing on projects that clearly define product-market fit. With Casper 2.0, we are targeting a broad range of use cases. We aim to lead innovation and create a welcoming community, establishing Casper as “the friendly community chain.” We are also implementing a process that gives the community direct participation in Casper Association’s decision-making, including on-chain governance with real legal implications.
Q: Is CSPR.fans on Telegram legitimate?
Yes, CSPR.fans is supported by the Casper Association. The first season concludes at the end of this month, and we will kick off a new season with doubled rewards.
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