We are pleased to announce our next AMA on December 15th 2020 at 02:00 PM UTC Time: Satoshi Club x SMARTS Finance
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join SMARTS Finance Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. SMARTS Finance Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about SMARTS Finance
For more details:
SMARTS Finance – @smartsfinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
“Propose the listing of a new token market.” Aren’t you concerned that sketchy elements could accumulate $SMAT and use the vote to vote in sketchy tokens on your platform? Is there a system to prevent accumulating smart token?
The APY yield is going to be announced when the dashboard goes live, but what percentage of APY can we expect, just give us a rough estimate? And lock in period too is yet to be announced, is there going to be penalty for leaving pool before the end of the lock in period! If yes what sort of penalty are we looking at?
SMAT is a tradeable token, which exchange/trading platform is SMAT token aiming to list on?
Currently there are many projects that are having difficulty solving the problem of persistent data flow .. What solutions does SMART offer to dynamically route data flow between clients and servers? How complicated is this process?
Everyone thinks that a successful blockchain or cryptocurrency project is measured by the price of their token and is less concerned with technology and its adoption in the blockchain world afterwards. So for SMART what success targets will soon be achieved beyond the price side?
How do I get $SMAT? Can it be mined, staking and yield farming? How do you handle security issues in your project? and is there any advantage for the developer if they get a bug on your platform?
What are special features that make Smart finance differ from others?What are the expectations of Smartfinance from crypto users?
How do you manage to make Smartfinance stronger because so many projects in Defi world are becoming flop?
What a special for your security? And what make you confident is safe? i think security it’s important, please tell us about security of $SMAT?
While studying your project, I observed that one of the peculiar characteristics of Smartsfinance is that you collects all the deposits in the pool and carries out transactions at once to solve the high gas cost. Of course, you said that this is done that to reduce the cost of gas, how does this system work? Can you please throw more light on this? Thanks
Smart contracts are vulnerable to bugs, and even recently big DeFi projects were victims of this, with such security breach resulting in unplanned financial harm. How is the security system in Smarts Finance smart contracts? I am asking because in one of your recent interview, you said you are tackling this issue by making a deep assessment of your smart contract and ensuring it pass certification by your internal audit CTO. Do you you think internal audit alone is enough? Don’t you think you should partner other professional bodies such as slowmist, certik or others to audit your smart contacts?
Most Defi projects are replica of others with no much sustainability plan for long time investment. Tokens are created, distributed, dapps gets listed while Investors deposit assets, make LP pool and mine tokens. After that, there is no long-term progress for the project. Any unique benefit why investors should buy and hold from this project? Also, Smarts Finance pre-sells about 12 percent of it’s tokens and similar projects with similar approach did this to increase their capital through presale. I’d like to know why you’ve planned this token matrix. Is it to raise capital? Do you have sustainable plan and methods in place to ensure the sustainability over a longer period of time?
To date, in all countries, Decentralized Finance, including borderless DeFi lending, has no regulatory umbrella. What about Smarts Finance regulations? In your opinion, can decentralized finance be legal in the world?
Upon reviewing your online content I see that you underline 2 main features of Smarts Finance: “Being Community-Centric” and “DeFi Services”. My focus here is the community part. Every project owner claims that the community is very important to them but we don’t see it very much in practice. So, what does being community-centric mean to you? How different is your approach to community? What is your governance model like? How powerful is the community in Smarts Finance governance system?
From your Roadmap, I noticed that your whitepaper will be released fully in Q2 of 2021. Why would it take this long for the full whitepaper to be released? What would you add to the full whitepaper that we need to know about now?
You had lot of plans for the Q4 of this year 2020. Like CEX listing, Staking Portal Release, Liquidity mining instigation, Token Sale and Uniswap Launch, Coingecko listing etc. How far have you gone in achieving all these plans? Have you achieved all yet??
You have a total supply of 400,000 SMAT. And majority of this token is allocated to Staking, mining, lending and governance. But a very little portion is distributed to your advisors. Who are your advisors and how have they helped Smart Finance?
According to your website, Smart has a unique staking features. What makes it unique? What’s the difference with other staking?
Transparency, trust, and openness are your team’s core ethos. Trust in the team and project management is an important factor to determine whether the investment, by looking inside the team we can see how this project will develop. Can investors see who is on your team? Where can it be seen?
Perhaps one of the biggest problems DeFi faces is the process of creating tough liquidity. How has SMARTS Finance addressed this issue through its platform? And how can you facilitate the creation of these liquidity? Is smart support on WEB3.0 a solution and what will this bring?
In line with your plans of being fully transparent you plan to adopt trustless operations with the use of a Multisig Wallet function for your smart contracts deployment and project development funds. You intend to achieve this by liaising with known influencers who have no direct connection to your project to be part of the key holder council for transaction signing and approval…. What progress have you made in this regard, How many influencers are you planning to on-board, have you contacted and gotten a positive feedback in this regard from any influencer and do you plan that the role of this influencers will be limited to just Transaction signings and approvals
It is stated that your platform is Cheap to use due to distributed gas cost which helps minimize transaction costs How is this gas cost distributed to help achieve this…
Ama is very important strategy for adoption. Do you have other strategy of communication to community know more about your project? What is the goals for the future?
What you say to your community now to trust in your project? Why choose it?
You will be implementing a double reward program by routing the liquidity pool of the contract to the latest strategy of a known Yield-farming platform while the primary incentive with SMAT token remains active… For how long will this run and what yield farming strategies will you route the liquidity pools to will it be for all the Tokens supported in your staking protocol..
I”m in a country and nobody know english. What strategy to people of other idioms? Adoption is important
As we all know that exchange listings are not to be made public unless they are confirmed. But at Satoshi Club, we love secrets and we always keep them as secrets. Other than your intentions on listing on Uniswap which is a decentralized exchange, are there any plans to list on CEX exchanges so as to complement the use choice of many traders and users alike? Please share with us.
Ethereum has a very huge adoption but it is very expensive to use. We thought And it would be an advantage for any new project (as well for the users of such project) to implement a feature that will ease the onboarding process. How does SMARTSFinance Aim to achieve this?
Lack of sustainability is what makes a project not to have a long term progress. How does SMARTSFinance Aim to effect sustainability on its platform so as to stand the test of time?
What do you mean by saying “A System Is Smart Only If Its Users Permit It”? How it can be possible?
On your roadmap Q4 2020 there is one thing I have to ask about… You will launch Updated Website.
What will be done on current website and why does it need changes?
– Smarts Finance has 10% of its total supply as a reserve for the project. Under what circumstances will these funds be available for use? Are those funds locked or available at any time?
– Many DeFi projects say “don’t invest the funds you’re not willing to lose” as an excuse for not rewarding their users in case of a security breach. Does Smart Finance have any insurance or funds in case a theft occurs due to a failure in the smart contract?
SMARTS Finance has posted on 4th Dec on twitter…
“Many of you have checked through the SMARTS Finance Whitepaper. We will like to know what you think about our strategy, tech, tokenomics, products and services in the comment section. ”
And in roadmap Q1 2021 there is updated whitepaper release.
Why are you updating white paper, what were responses from community? Do you update it because community didn’t like it or you want to add some changes to it? Please explain
– What are the advantages of being listed in DexTools? Is the Uniswap token already listed for the DexTools platform to provide all the charts?
Blockchain allows the need not to trust, but to verify. The network contract and token permission implementation function with SMARTS FINANCE is located with unrelated members through a multi-signature functionality. How efficient is this method? Why not use an AI or bots as many other projects have done?
In many games you have to wait for a positive market upturn before the shares become profitable. How do SMARTS FINANCE smart games and non-custodial contracts solve this? What have you changed about your platform in this area?
How can I opt for decentralized and frictionless lending in SMARTS FINANCE? How do your lending protocols differ from all others? What are the borrower benefits in your model?
A System Is Smart Only If Its Users Permit It. Smarts Finance is a community-centric and governance system with a novel and open approach to DeFi Services and Products. Holders of SMAT dictates all platform integrations and directions. So in this case, can you explain the process or way on how the SMAT Holder dictate the integration and directions of your platform? If almost all the governance of platform is from the SMAT Holder, what is the role of the team or the management? Why does your platform gives all the right to SMAT holders for the decision-making in SMARTS Finance platform? Can you gives us a real scenario or example that already done in your network wherein the SMAT holders dictates some integration and direction of your platform? Thank you
One of the highlight of feature in SMARTS Finance is having a Double reward or incentive mechanism. Can you elaborate more about this reward in your platform? How does it works for SMAT holders? Literally,how can I get double reward? Is this offer so good to be true or it is really possible?
Can you explain more about the non-custodial Smarts contract savings of your platform? How can we earn a passive income with this saving strategy? Thank you
“A system is smart only if its users permit it” it’s an interesting sentece since your holders are empowered to lead the success of the platform, it’s a lot of resposanbility that deserve good rewards, it says in your web you have a double reward or incentive mechanism, how is it for holders?
I’ve seen something unusual to see in a tokenomics. A 1% destined to advisory. What kind of advisors Smart Finance has or is seeking to enrich the platform?
SmartSfinance has a locked liquidity mining model with additional consolidation, high performance and sustainable features, if I am a $ SMAT holder could issue the platform addresses as changes as integration?
I understand that the network contract implementation and token permission function is located with members without direct relationship through a multi-signature functionality, contracts for SmartsFinance are audited before insertion into the project or are they tracked?
I understand that they have characteristics that have maintained the successful orientation of traditional finance, such as the intelligent loan model that SmartsFinance offers?
You have a term called “strength of SMAT (sSMAT)”. What is the function of this? Which pools will sSMAT generation apply to? How does it differ from the basic SMAT incentive mechanism?
How do you plan to ensure the stability of the entire system, and what mechanisms will you use to support the value?
What are the changes in tokenomics related to?? You have doubled the number of tokens allocated for the TGE and halved the time for blocking funds in the pool. Very interesting maneuvers and I would like to know what other surprises you have prepared
There is very little time left before the start of TGE. But we still do not know the conditions for how to participate. Are you preparing something special for early investors? Why such secrecy?
$SMAT holders will be able to redefine reward structure and their distribution. How often can be this changes made and what happens if a proposal gets less than 50 votes? Is it discarded forever or can be putted in the table again?
Part of this project’s vision is creating a system that erradicates the need to trust. What is the plan of Smart Finance to create something like this? Is this a way to put the whole purpose in your users decisions?
really, on which exchange platforms do you plan to list the native SMATS tokens? Do you only think of Dex platforms? Or will they also list on Cex exchanges as recognized as binance?
What is the minimum amount of tokens that users must have to be part of the community and support the fair democracy of SMARTS?
I understand that the launch of the SMARTS technical document will be in Q1 of 2021, why really launch it after the pre-sale? Wouldn’t it be of greater benefit to your users to learn more about your project and then invest in it?
Really, platforms that provide great rewards tend to be SCAM, which is why beginners are taught to invest in modest projects that provide rewards only in the long term, being like this, how to trust SMARTS that has a reward or incentive Mechanism double?
one of the problems experienced by amateur traders is missing the beginnings of the upward trends so they lose the opportunity to obtain great rewards, but really with SMARTS I can forget about being aware of each of the marketing candles and only invest in their platform and get exponential profits?
the only benefits of being ported from SMARTS are “Smarts Staking, Smarts Lending & Borrowing, Liquidity, Mining and Agriculture”? Or really in the long term could they have even greater benefits, because of new applications developed?
Like SMARTS, many other projects deliver total governance to the community through DAO and continuous voting in a democratic way, is this same system used in SMARTS or will they really implement a just democracy, but by another system of attraction and voting of the anonymous users?
I understand that the priority of SMARTS is the community, therefore they provide one of the biggest APYs to investors, right? But do you plan to increase your profits periodically to satisfy the community even more in the long term? or do you think they benefit you in other ways?
DeFi is still in an experimental phase and the next few years will be full of innovations and many changes… My question is: Was Smarts Finance designed to adapt to these future changes? Is its design and structure flexible and scalable?
You comment that in order for $SMAT Token holders to make changes to the protocol “it must meet the required threshold and other criteria included”. Can you tell us what requirements and criteria you are referring to? Number of tokens, frequency of participation, blockchain experience…
As I read in your publication, you have liaised with known influencers to be part of the key holder board for signing and approving transactions, all because of your anonymity. If we can’t know who is behind Smarts Finance can’t you at least tell us the names of these people you have linked up with?
I was very curious to see you say that you have “a distributed gas rate to minimize the transaction cost”. What does this mean? Is the rate divided among several transactions or something similar? And if so, wouldn’t this affect the speed of each transaction?
In one of the publications where you contrast Smarts Finance with other DeFi protocols you say that you have “a community-centered approach to consensus building” but… isn’t this precisely the goal of a DeFi protocol? Or are you compared to other protocols if you’re truly decentralized?
I read on your website about the distribution of the SMAT token, and among the percentages 10% is part of the project reserve. What does this reserve consist of? In what particular situations would this reserve be used?
In your roadmap you have for the fourth quarter of 2020 the release of your whitepaper, and for the first quarter of 2021 the launch of your updated whitepaper. What new features will this update include? How often will the whitepaper be updated?
SMAT will be the token to govern the use of Smarts ecosystem and network. It will be utilized in governance as you believe decisions should be made by participants of a system. Although the community plays a very important role, will it have voting power over 100% of the project? Isn’t there a percentage of the project that is only governed by the developers?
25% of your token is allocated for your Token Generation Event (TGE). How many TGE will you do? Is this the only way currently to get the $SMAT token? Is there a maximum number of places in this TGE?
Interested in your lending model that incentivizes both providers and borrowers. What kind of incentives can you offer us? What conditions do you propose in general in this direction: terms, interest, collateral? How is Smarts insured against unfair borrowers?
SMAT is The governance tokens power the blockchain-based voting in Smarts ecosystem . They are often used to signal support for proposed changes and to vote for new proposals. For example MKR in Maker Protocol. Are you planning to issue other tokens like the Maker project at Smarts Ecosystem?
Why did you decide not to rely on third-party services to verify, audit and authenticate contracts, but entrusted this mission to your CTO?
What staking conditions can you offer us?
I think DEFI is really popular in 2020. If there a new DEFI project launch, it looks like the token price will be good. Don’t you think it will same with Smart Finance? Do Smart Finance have some unique mechanisme to make your token ‘moon’?
As an investors, i very concerned about the trustworthy of project. but, why i can’t find any information about SMARTS Finance team? As you know, scam projects are constantly appearing, they come up with a dreamlike route, then abandon the project and disappear. And the biggest damage are the investors. So, Could you give me some team’s information for investment?
After I read your telegram, on 15th December that mean today Smart Finance will do TGE (Token Generation Event) what event is this like? How to participate in this event?
Defi projects are of interest to many people because of the sudden increase in the price of many tokens and I think SMAT tokens are no exception. So, what methods will you use to increase SMAT token price in the future (buy&burn, staking…)?
How will the participants be decision makers in determining the first members of our governance system with an open invitation letter and how will decision makers function in the governance system?
What will be the criteria for achieving an APY return of over 200% for the first few weeks and what are the privileges of early access to the liquidity mining program with a 4x reward increase?
Soon, you will conduct Token Generation Event and honestly it’s my first time to hear this kind of event. Could you introduce to us more about this event and what kind of benefits it gives to the participants?
What is the significance of SMARTS Finans’ strategic partnership with the Korean community “ICO Pantera” and how will SMARTS Finans provide privileges in accessing the Korean market?
Like most Defi projects today, SMAT allows users to vote and change governance as well as receive high APY from staking SMAT. And as you said that investors using LP will get preferential through SMAT, so how about the APY rate? So if I early participants for staking SMAT, will I get any incentives?
I read your whitepaper, the unique that Smart Finance have than other DEFI is reduce the cost of gas fee. But as I know your pool $SMAT use ERC20 which ETH gas fee still high right now, So can you please explain what system did you use in your platform to reduce gas fee?
Actually there were so much DEFI project out there with same cycle like make a token, do audit, do AMA, do presale, list dapps, add liquidity and got share from pool. But
many of them not growing and don’t have long term progress. Is Smart Finance same like that, what is the different?
Who are Anthony P & Hillary S mentioned on the whitepaper. Are they part of Smarts Finance team?
The total supply of $SMAT tokens is 400,000 but the maximum supply is 1 million $SMAT. Where are the remaining 600,000 $SMAT Tokens and what will you do with it?
In Smartsfinance ecosystem, you said that Distributed gas fees to minimize transaction costs, but as we can see, many customers complain and disappoint for ERC-20 network because high fee and slow than before. So how does this system work to deal with this problem?
10% of $SMAT tokens are allocated for the team and advisors. Is there gonna be a lock-up period for the teams token? How many months will it be lock and will it be gradually release.
Many Defi projects ensure the quality and security of their produc by an independent third party, but on your website you claimed that disclaimer and can’t guarantee they won’t misbehave from faults due to bugs or other uncertainties. Do you think this will cause investors to underestimate the security and stability of SMARTSFiance project?
Max token supply is 1,000,000 tokens,but total supply just 400,000 tokens. Among of them, there are nearly 20% of team and project reserve. It will lead to investors worried about the dumping, so how do you think ?
As a can see on the website, whitelist there is no information about the partnership. So, in 2021 will SMARTSFinance focus on about partnership? If yes, which partner do you expect to associate with to promote your product even further and bring it to other big exchange ?
I have read your Medium article about Token Generation Event. In this article you inform, that you will held 2 TGE events and for both those events you will minted 250000 SMAT. My question is – when are the rest tokens will be minted? If consider that at start your total supply, should be – 550,000 SMAT, as written on your website. Thanks.
DeFi products and services are still at an experimental phase and call for cautions in their handling. Always afford to make your research and invest what you can afford to lose when you interact with their different components. Although, Smarts Finance will employ the versatility and experience of accredited auditing firms to ensure the safety of our contracts. Nevertheless, we cannot guarantee they won’t misbehave from faults due to bugs or other uncertainties. Use the products with care.’ I found this statement is posted on your site and as stated you are taking off any SMART Finanse’s responsibility for your users funds loss. Maybe, after all, members of your community and investors deserve, for example, insurance of their investments?
Smarts finance parnered with ICO Pantera and they will be your Gnosis multi-sig wallet key holder. Does this in any way mean that you don’t have trust between team members?
Is there any timeline to transfer Governance to the community from Founding members after TGE and isn’t a year lock-up too much for submitting a proposal ?
In white paper you say .8% fees would be charged on SMAT/ETH Trades out of which .5% will be used for buybacks. Why exactly buyback function is implemented ?
Fundraising wallet for contract deployment will be co-hosted with independent influencers using a multi-sig wallet format. Can you please name those influencer’s if it’s not confidential ?