Trias x Satoshi Club AMA

Dr. Anbang Ruan, Trias founder and CEO, was in @Satoshi_Club on Telegram at 14:00 UTC 25th Feb for an AMA. Here is the recap of this AMA.

Q1.Trias invented DSaaS, so how is DSaaS and SaaS different? What are the benefits of DSaaS for the TRIAS ecosystem?

The main difference between DSaaS and SaaS is, obviously, with the “D”, Decentralized. Just like the difference between DApp and App. We use the “Decentrlaized” methodology to help solving the “Trust Issues”.

The reason that we need DApps is proprobaly that we don’t genueinlely trust an App, either an App on a smart phone, or as complicated as a large distributed web App. We don’t usually know for sure whether the App will behavior as expected; whether it will process our data as instructed.

The reason that we need DSaaS is similar: for companies, they need to ensure that their business logics are implemented and executed correctly and their business data, especially, customer data, are not abused or leaked; for auditors, they need a much more efficient, effective and cost-saving methods to inspect any data-accesss violations instantaneously; for end-users they need to be sure that their interactions with the SaaS provided by a third-party is trustworthy and reliable.

Certainly, the current concept of DApp may incorporate the DSaaS’s definition. But what we would like to emphasize with this new terminology is that: we cannot build a large-scale industry-ready enterprise application with the existing techs — e.g. we cannot implement the entire SaleForce on Ethereum. We need a new tech.

Q2. Most investors simply focus on the price of the token in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of an investor in a TRIAS in the long term?

I agree that there are quite a few investors focusing on the relatively short-term gains. And yes, not all of the investors understand the real value of many great projects. But I think there is nothing to blame: because it is such a fast-moving industry. And I am even a bit grateful that: even without fully understanding, there are still many investors actively in the space! Blockchain-space is a high-tech space. It is a rocket-science. If only tech-savvy investors would invest, it wouldn’t the most fast-moving industry so far.

For Trias, we are even fortunate to have a few investors who really believe in our visions, like NGC, DHVC and Reflexion (a less well-known, but it is among the first investors). We all believe that it is essential to have a global-scale of trusted communing infrastructure to support trustworthy and reliable large-scale industry-ready enterprise applications.

From the investors’ side, building techs and products for enterprise as a start, can help us to accelerate adoptions. By building DSaaS for enterprise customers, not only can we acquire the real pain-point more quickly, but also allow us to create revenues. The verified requirements and products further help us to expand the business and tech adoption. And this is why Trias didn’t raise too much from the crypto space.

And certainly, in an even longer term, we also believe that need solid techs to build Trustworthy and Reliable Intelligent Autonomous Systems, i.e. TRIAS. The market for solving the general trust issues towards machines (software and hardware systems) is beyond imagination.

Q3:Why did TRIAS aims to create New-Generation public Chain?Recently many project also have similar target, but I do believe TRIAS have special Fiture that other Public chain project don’t Have, Can You explain the fiture?

The sort-term goal of Trias is to build Decentralized Software-as-a-Service, the (DSaaS), to root trust into large-scale industry-ready enterprise applications. We think that we cannot simply migrate every component implementing a SaaS to any single existing chain, such as Ethereum, EOS or Hyperledger Fabric.

It is mainly due to the scale and complexity of the SaaS itself. For example, different components may have different security and performance requirements. The component implementing the SaaS’s user account system or financial data system may need higher security guards to protect the user passwords, personal addresses or credit card information. It can tolerate relatively low latency. Meanwhile, storage or warehouse management systems, for example, may trade security with relatively higher performance and throughput.

More importantly, it is not feasible nor practical to migrate (rewrite or even redesign) every existing enterprise software component to the current blockchains to run their smart contracts. Substantial costs will incur, not to mention the current low latency issues of different chains.

Trias’s idea is: we don’t migrate every piece of software from the old world to the new world. We build, execute, and manage all the legacy applications in a brand new way.

Trias is designed with a three-layer architecture targeting at building and supporting a DSaaS.

  • The Leviatom system builds a global-span trusted computing infrastructure which ensure the genuine executions of ANY given compiled codes. This includes all the legacy codes. This is achieved by integrating the trusted computing technologies (including the TEE/SGX) and graph computing algorithms. We build a decentralized network of nodes which will constantly attesting to each other that whether the given codes are genuinely executed. All the nodes actually forms a “social network”, which allows the gossips of whether a node is “good” or “bad” to be quickly disseminated. A misbehaving node is identified very quickly within Leviatom network.
  • The Prometh system builds a traceable software building framework. It utilizes distributed ledgers to track and trace any piece of binary codes back to all the source codes and building configurations, intermediate binary object and the trustworthiness of their building environment. Prometh helps identifying the misbehavior within each piece of software. It ensures a given software will behave as expected.
  • The MagCarta system is a service orchestration and management platform. It connects the “good” software built by Prometh together, and distributes them to the “good” nodes in the Leviatom network. MagCarta than chains and track the data flow through these software and nodes. Hence it creates a software service with: verifiable software components, verifiable computing resource, and verifiable data flow among them.

For example, to run an entire CRM or ERP system on blockchain, we genuine have three (extremely simplified) ways: 1. we link all the machines into a Leviatom network; 2. we recompile/rebuilt all the CRM/ERP with Prometh framework; 3. we configure and deploy the Prometh-built CRM/ERP on Leviatom network with MagCarta.

In short: as oppose to port a software as smart contracts of any kinds of chains with different specific properties (security-focused or performance-focused, etc), we build, execute, and manage all the legacy codes to make it as trustworthy and reliable as smart contracts.

Q4:Adoption is a headache challenge for every blockchain projects, especially at this sensitive period of the whole market when many blockchain projects were dead since no-one uses their blockchain. What are your team’s strategies and visions on this problem to onboard more users for Trias platform?

We solve the adoption challenge with a business-oriented approach: we firstly build and run Trias-based DSaaS solutions by ourselves, and sell them to enterprises; and then, we will open our sdk/api to developer to acquire more applications, given that our current customers might have more needs; and finally we open our mining mechanisms to acquire more computing resource, given that more applications are developed and will be deployed.

Therefore, different from most public chains’ bottom-up development route of “releasing main network”-“publishing development frameworks”-“building ecosystem applications”, Trias adopts a top-down strategy of “building MagCarta ecosystem applications”-“publishing Prometh application framework”-“releasing Leviatom main network”:

At the first stage, Trias team will deeply participate, support or incubate MagCarta ecosystem applications. At this stage, the Leviatom network and Prometh framework will adopt the super-node mechanisms, and MagCarta application service providers will carry the super-node responsibilities of Leviatom and Prometh. Specifically, the early computing devices of the Leviatom network and the software system of the Prometh framework will first be provided by MagCarta application service providers. These genesis MagCarta ecosystem applications builds-up the genesis Leviatom network and Prometh software stack.

At the second stage, with multiple MagCarta applications been built, we will release the Prometh application framework and start the Prometh mining mechanism. This will firstly attract developers to build value-added software services for the existing MagCarta applications.

At the third stage, with further prosperity of the MagCarta ecosystem, we will release the Leviatom network and start the Leviatom mining mechanism. This will help finally recruiting more computing equipment to further scale the entire network.

We believe that the top-down and demand-driven development model will effectively promote the cold-start and further development of the Trias ecosystem, especially facilitated by the strong commercialization capacity of the Trias ecosystem companies.

Q5:Why does crypto space need new generation public blockchain?What is the deficiency of the traditional blockchain system we are using right now that Trias Team trying to solve/fix ?

I think if we all believe that blockchain is the next-Internet, then apparently, it is still not as ubiquitous as the Internet. So there is always the need for new techs. And, if we want to run every single piece of software on blockchains, as smart contracts, we definitely need to solve the compatibility issue: as we discussed before: rewriting all the legacy software as smart contracts is not feasible. We need a brand new way to build, execute, and manage the legacy software. And this is the key problem, the Trias team is focusing on at the moment.

Q6. Can you tell us a little more about your strategic partnership with CertiK?

The partnership with CertiK is twofold: firstly, we will be workin very closely them with have our own codes verified, and as well as the apps in our ecosystem. This will be especially challenging for Trias’s platform, as we are targeting at building the DSaaS.

Secondly, we will be working very closely in exploring the Chinese domestic market. Currently we have quite a few big customers, ranging from the financial sectors, manufacturing industry, electricity grids, local government, commodity trading etc.Our strategic partnership can also help CertiK to get more business in China.

Q7. I read that the Trias project does face some problems and uncertainties during its innovation process. Firstly, its TEE solution to data computing and privacy problems are still in the early stages of the blockchain industry, how are you going to address this?

TEE is a relatively new tech, especially the Intel SGX. But Trias’s underlying trusted computing network (the Leviatom) is not bound to TEE/SGX, that is why we propose the idea of Heterogeneous Consensus Graph (HCG). With HCG, different trusted computing techs can be used for remote attestations (a technique used for verifying the genuinely loading sequence of applications on a computing platform).

These will include SGX, but also the TPM/TPCM or ARM Trustzone.

The idea is that: firstly we need the supports from trusted hardware to “look into” what is really going on inside the loaded software (the memory space). and secondly, we cannot lock us in a specific trusted hardware, which allows the manufacturer to become the new center (like Intel for the SGX case).

So with HCG, machines equipped with different Trusted Computing techs will attest each other, and broadcast the results to their neighbors, who further reply the broadcast.

Q8. Can you tell us the motivation and benefits for investors to hold TRY token long term? What plans do you have to help drive demand and scarcity for the token?

The current business model for Trias is: we sell Trias-enabled information systems directly, and build it as replicatable use cases; and our collaborators (the Trias Alliance Companies) can then copy and sell the system in their countries or regions, as long as they stake certain level of TRY; after they managed to sell the product, they will share a bit profit by giving back certain amount of TRY for incubating more projects, or by burning the TRY directly.

So as long as more applications are building, more usage scenarios are creating, countries and regions around the world may keep copying and distributing Trias DSaaS, more staking, burning, ecosystem investing will happen. round and round.

This is why we believe in the value of TRY.

Q9. Do you plan to create new use cases for the TRY token to increase its value? If so, what will they be targeted first? Can you tell us about the motivation and benefits for investors, to keep TRY in the long run, how are you fighting inflation?

Yes. Currently we have developed a business-oriented usage for TRY, the franchiser/franchisee model. it helps a DSaaS developer to replicate it product around the world. The second step, after we have released the Prometh framework, a model for paying software components development / testing / verifying / distributing will be developed.

And finally, with the Leviatom network, TRY will be further used for sharing computing resource, implementing remote attestation / verifications to the computing nodes, and broadcasting / routing the trustworthy information among the networks.

So basics, for our visions, TRY lives in the circulation of executing, developing and managing software services, the DSaaS.

Q10. What is your long-term vision about the industry which Trias project is working at? Are you afraid some day there will be another project with more innovative technology can replace Trias?

From my vision: Trias is the Airbnb for cloud computing. put it another way, Trias builds a decentralized trusted cloud infrastructure. This actually stems from my research since 2007, my previous academic paper can also be located from our website.

For building the Airbnb for cloud, two critical trust issues need to be solved: how to trust the host, and how to trust the guest.

Leviatom solves the first issue and Prometh solves the second, and MagCarta is actually the AppStore (the DSaaS Store) for this cloud.The reason why this directly is so intriguing to me is that: it a big big market having enormous potential. Think how many applications could been enabled because the difficulties in trusting clouds, and not to mention in difficulties in trusting machines, and regarding the continuously improvements of the tech, we agree that it is a space fully of challenges.

On one hand, we are still working very closely with the academia: we have built joint laboratories with Peking University and Tsinghua University respectively, the two top universities in China. and we are working very closely with professors from the University of Oxford.

More importantly, we need helps from the community, the talents who share the vision with us!

Q11. And financially, does DSaaS behave similar to a SaaS?

Great questions: totally different. It will run with Trias’s token model.

Q12. During the previous days I was asked a lot what has happened. Trias have a partnership or an announcement? It is related to the price spike of course 🙂 Can you share with us some reasons of the previous growth?

Yes, and thanks for the attentions! I believe it is because that we have shared a few collaborations that we have had in China. One of them is with SooChow Securities, one of the top listed securities companies in China.

Q13. You said you will open our sdk/api to developer to acquire more applications, given that our current customers might have more needs. Will it be free of charge?

It will be charged with TRY.

MovieBloc x Satoshi Club AMA

Participants:

Community— @satoshi_club

Chris Kang – Founder and CEO of MovieBloc

Part 1

The community has sent in advance 200 questions. 5 questions that were selected will be answered here.

First Question

Serg:

It belongs to @sicxa

Are there any new partnerships and interesting upcoming use-cases?

Chris Kang:

Thanks for your question @Sicxa

We actually just announced our acquisition of Cobak, Korea’s biggest ICO Platform / community. It was a huge news in Korea, especially in Crypto market 🙂

Beside this acquisition, we do talk with more Korean film distributors to acquire more content from them. We do believe we will be able to stream new films on our service by the end of March.

Right now, users can pay with MBL to watch films on moviebloc.com, and in the end of first quarter, we will add an event feature ‘MovieBloc PICK’ which will be very similar to Biance voting. It is voting for better films every week to win the bounty, and the MBL holders or bigger contributors to the ecosystem will have more votes to win more bounty 🙂

Irina Kravchuk:

Is the distribution on your platform only?

Or also in physical locations?

Chris Kang:

Yes, but we do have some channels on other online platform, especially some Chinese channels, too.

Upon the distributor’s agreement, we will also stream their film on those platforms too.

We try to focus more on the online streaming, but irregular offline screening could be a fun event that can be mixed with our offline meetup!

Second Question

Irina Kravchuk:

This is a question from @iulya_i 

How many people use your platform at the moment?

Chris Kang:

Hello @iulya_i

Our platform is only a two month old, so it is at its very early stage.

Nevertheless, we have about 10,000 users, and i think this fast growth was only available thanks to our community’s support.

We will also use KMPlayer to promote the service to our existing users, and hope to have more growth on our platform user base quickly!

Irina Kravchuk:

Wow. 10k users in 2 months is a lot.

Chris Kang:

Couldn’t done it without the community members’ support 🙂

Irina Kravchuk:

How will the partnership with KMPlayer work? Streaming directly in their software?

KMPlayer is my favourite player, by the way. The colours and sound is better than on any other desktop player software.

Chris Kang:

In the later phase of the cooperation with KMPlayer, yes.

We will start from simple and small cooperation first. Pushing some of the featured content with the banner on KMplayer would be the example.

However, we are very careful on this content pushing, as we do not want to negatively affect KMPlayer users’ experience watching their own content 🙂

Third Question

Serg:

It belongs to @mladen_zivkovic

Is the platform fully functional? Do creators already get rewards for their posted work there?

Chris Kang:

The creators can get reward for their work, yes. As said earlier, there are some few features keep being added to this service, and the service is getting more and more stable.

The word ‘fully functional’ is quite tricky since we do expect more features to be added on our platform haha.

Irina Kravchuk:

What other features are there now for both creators (video and subtitles) and consumers?

Chris Kang:

From this Monday, we allowed individual users to upload their own films or videos to MovieBloc.com, so the platform is becoming more and more open to the public and the filim creators.

The revenue sharing has been functioning perfectly since the beginning.

If you are an audience and can help with the translation, he or she can provide the localized subtitle to that content, and earn 5% of the creator’s revenue. We already see a user uploading her localized subtitle to some of Korean films we have.

Irina Kravchuk:

5% for all translators or for each one?

Chris Kang:

for each one, only if his or her subtitle was used by the audience to watch the content.

Fourth Question:

Irina Kravchuk:

How do you technically ensure that a video/ movie that is posted on your platform won’t be stealed/ copied and used somewhere else? @endtimeprophet

Chris Kang:

A great question @endtimeprophet 🙂

All the movies uploaded to our service are fragmented to every minute, and have DRM. Even our team won’t be able to have the full file version. Once the payment is made, then the user gets the access to view the video.

It is not easy to explain this as a non-tech guy, but we do provide a good level of protection for the uploaders’ work 🙂

Fifth Question

Serg:

Why did you choose a blockchain solution instead of a traditional one for MovieBloc?  @crypto_monkk

Chris Kang:

Glad you asked! @crypto_monkk

Few synergy points we expect when blockchain is applied to content distribution platform.

1. Transparent revenue share

2. Encouraging and rewarding the users’ contribution

3. Safer copyright management

4. Faster and cheaper revenue settlement for the uploaders, especially for cross-border transfer

Part 2

The community posted hundreds of live questions for 3 minutes in the Telegram group. Chris have chosen 5 best questions to answer.

First Question:

Edgardo Tico:

Can you explain about theTheta integration going live in MovieBloc platform?

What is the role of Theta in MovieBloc ecosystem?

I support MovieBloc in Binance coin listing

20 votes i reserve for you

Chris Kang:

the Theta integration going live in MovieBloc would be around the corner. If you checked the “My Bloc”-> Wallet page, you will see one logo added to your wallet 🙂

We have discussed and communicated with Theta’s team and Mitch for over a year now, and since we do have a functioning platform, we believe the time to adapt Theta is approaching quickly 🙂

It will help us to reduce the CDN and streaming cost and share more with the creators and users.

Second Question

Oathbreaker:

What are some of the major achievements that MBL has achieved and what milestones are planned ahead in the next 6 months, 1 year and 5 years?

Chris Kang:

MovieBloc has been less than a year, and we achieved a lot: listing on major exchanges, launching the service, Cobak acquisition, partnership with great global projects and film & content entities.

We announced 2020 1st half roadmap on our medium, which is about detailed function of MovieBloc.com service. We will also launch the fundraising feautre on MovieBloc.com in the 2nd half of 2020.

In the long term, we want MovieBloc.com to be the place where a talented rookie filmmaker can gain his or her fame and rewards in the film industry. Like said earlier, the next Oscar could be the director who used to upload his or her early works on MovieBloc!

Third Question:

Dalmasca Blockchain:

I am Video content creator on Youtube, I want to move into MovieBlock platform, what should I need to do?

Any requirements?

Chris Kang:

Thanks for considering uploading your videos on MovieBloc!

It is an open platform, and as long as you have your “own” videos, there aren’t any requirements.

However, we do only publish videos that are considered as “films,” “TVshows” or videos with some kind of storytellings.

Fourth Question:

S.A.M. Crypto Trader:

I use KM Player from 3 years when i was not in crypto ! So, like me many users still use KMPlayer of MovieBloc.. But, they are not aware with Blockchain & MovieBloc platform!

So, How MovieBloc platform create awareness to KNPlayer users about Moviebloc as well as Blockchain technology?

Chris Kang:

Great to find another KMPlayer user here! We actually are opening and pushing MovieBloc to KMPlayer users small by small.

We are approaching to these useres in different ways, with banners, pop ups, background images to find the best and most efficient way for KMPlayer and MovieBloc.

Please stay tuned with KMplayer and you will see MovieBloc is up there pushing some featured movies to you!

Chris Kang:

Now I think i have last question to answer. Our whole team and CM are also watching this AMA and are reallly impressed with the questions. Very insightful. We will try to answer more on our Medium channel after this session 🙂

Irina Kravchuk:

We’ll give you a list with all the questions guys, from the part 1 also. Surelly you’ll get great feedback/ ideas in them.

Fifth Question:

Nguyễn Duy Bảo:

Last time I gave VOTE to DREP because they had a very good ecosystem, so why should I VOTE for MovieBloc instead of V-ID this time? What is MovieBloc stand out from similar projects?

Chris Kang:

Great to know you will be participating in this vote round. I wasn’t able to study VIDT project close enough, so I will just emphasize our strength 🙂

We have a strong background company KMPlayer (500 million monthly playback), streaming tech and experience on PandoraTV (A video platform for 15 years)

We are officially backed and supported by our crypto partners Ontology, Nebulas, Tomochain, Contentos, Theta, which are all already on Binance.

MovieBloc only had less than a year, but we were able to accomplish many milestones, and with our partners and background company’s asseets and assist, the future of MovieBloc is always bright! 🙂

Irina Kravchuk:

Great. Thank you for the answers and for your time @yeonkang . It was a great discussion.

Serg:

Thank you Chris!

Chris Kang:

Thanks for organizing this @Iri_kravchuk and @sspurss 🙂 and thank you all for your participation Satoshi Club!

Have to say, you guys have the best community name lol

Congrats! Satoshi CLUB x MovieBloc AMA Winners.

They will share a bounty pool of 200 USD (MBL)

Part 1 Winners:

@sicxa

@iulya_i 

@mladen_zivkovic

@endtimeprophet

@crypto_monkk

Part 2 winners:

@Leralover

@oathh

@Agz18

@duybaoxzx

@sam_cryptotrader

Part 3 winners – AMA QUIZ

Question 1 Winners:

@teshiagates

@huydo

@cattaccat

@Bitcoin_warrior

Question 2 Winners:

@cattaccat

@hg144

@Swapanpal1009

@rein_hard

Question 3 Winners:

@Mjsg98

@cattaccat

@dumontiskooo

@srksalman96

Question 4 Winners:

@Bitcoin_warrior

@LeridaGUADA

@NO4M3

@dumontiskooo

Question 5 Winners:

@NO4M3

@hg144

@murderrat

@Miles_toyo

Part 4 winners – Registration contest on moviebloc.com

@Magoy12

@jacob1

@Hasankpi

@akiraduy

@chrismutan

@endtimeprophet

@howaq

@an442018

@zepet

@yesspapa

FinNexus x Satoshi Club AMA

Participants:

Community— @satoshi_club

Serg — Host from Satoshi club

Boris Yang — FinNexus Founder & CEO

Ryan Tian— FinNexus Financial Specialist

Part 1

The community has sent in advance 185 questions. 5 questions which were selected will be answered here.

First Question:

Serg:

1. What are your strategies to assure that investors will hold FNX in the long term, and not just profit in the short term and damage the project?

Boris Yang:

In general, our strategy is making FinNexus launchable, not like air or always developing in the lab. That is why when we issue FNX, there is a tokenized product issued together. So FinNexus will produce a fee from this product and share it with FNX holders. In the future, more products including tokenized and pure decentralized ones would run on FinNexus.

FNX holders will share more from FinNexus eco increasing.

Irina Kravchuk:

What does it mean launchable? Could you make it more clear?

Boris Yang:

Launchable is means we will not let FinNexus stay in development for a long time without anything could be launched or used by users. Another important thing is FinNexus designing inflation of FNX seriously. FNX will increase very slowly, so holders do not worry depreciation of FNX by inflation.

Serg:

Do you have any approximate percentage of inflation?

Boris Yang:

For token supply, we trust less is more valuable like Bitcoin. There is a model we designed on the paper. Inflation will be based on eco increasing. So there is not a fixed rate. If FNX eco does not increase, holders do not need to worry depreciation by token increasing.

Second Question

Irina Kravchuk:

Is Finnexus buffer like a central bank? Does it have outside money or the fund is developed from a % of raised money? How does it work?

Boris Yang:

In the beginning buffer fund is operated by the foundation. But in the future, it will be combined with a decentralized way and our protocols. We will make it more transparent and perfect step by step.

Anyway, the meaning of buffer fund is keeping FNX price increasing in a healthy way and make the project run in a long time. In the beginning, more than 15% of the raised money will be in the buffer fund. And in future fees produced in the eco and other sponsors’ money will be put in.

Third Question:

Serg:

At the moment I see that FNX is a utility token. Do you plan to add any incentive-generating functionalities to it?

Ryan:

The nature of the FNX tokens will not become a disadvantage against incentivizing the holders. Frankly speaking, most of the tokens on the market are with hybrid nature. In specific, holders of FNX are eligible for the following rights or benefits:

I. Rights of a higher rate of returns on tokenized products

II. Rights to invest in or transfer tokenized products with lower cost

III. Derivative rights, like early settlement, resale, interest swaps, etc.

IV. Comprehensive participation in the decentralized models

V. Staking benefits

VI. Interactions with other tokens in the ecosystem

VII. Benefits on the FinNexus’ gains and development from the operations

• Underwriting

• Investment banking

• Market making

• Transaction commissions

• Direct investment in the tokenized products

Also, you may have noticed that we designed a unique mechanism in the process of ICTO, to let the market decide the circulation amount of FNX. The converted FNX will be burnt and decreased from the issuance.

Fourth Question

Irina Kravchuk:

What are the advantages of ICTO over other forms of raising money for a project?

Ryan:

It is true that fund-raising activities provide an important channel for investors to participate in the blockchain projects. After the outburst of ICO and IEO in 2017 and 2018, they cooled down rapidly, mainly due to scams, Insufficient information disclosure, and high speculations.

In the former ICO and IEO, one may not need to be responsible for their representations. Several people with a copied and pieced white paper can raise money. Sometimes there is insufficient and misleading information disclosure, which causes investors to make a bad judgment on investment,

Also, ICO and IEO are born with high speculation. Prices may be shooting to the moon and falling to hell, just in a blink. This phenomenon is not healthy for the project either; especially the ones having the models with high interactions with the native tokens.

Therefore, FinNexus creates the concept of ICTO. Advantages of ICTO are more choices provided for investors, satisfying the need of investors with different risk preferences and letting the market mechanism decide the FNX tokens in circulation.

Investors of FNX in ICTO are granted with a second choice. One may either choose to convert FNX into UM1S, to enjoy a lower risk with fixed returns, or hold FNX to benefit from the future development of FNX. Also, this conversion choice will be a risk adjustment factor for the investors’ portfolio. A more conservative investor may choose a greater amount of FNX to convert, according to their risk preference.

Moreover, the conversion will act as the market adjusting mechanism to balance the issuance of the FNX in circulation. The converted FNX will be burnt and cease to exist on the market, which will decrease the final FNX traded. We will let the market decide how much FNX will be left on the market.

You may refer to this article for more details.https://medium.com/finnexus/deciphering-the-finnexus-token-offering-model-the-icto-6029dbe02610

Fifth Question

Serg:

Whom do you see at the moment as your most important and big competitors?

Ryan:

Defi is young, starting from 2018. As a newborn, it has achieved great development. The lockup value in ETH reached 1 billion USD recently, with an over 360% growth rate compared with one year before. We tend to call the other projects in Defi the ‘bother projects’, rather than competitors.

We have witnessed there are a number of projects working in similar directions as FinNexus. Projects like Realt, Konkret, etc. are working on the tokenization models in their own way. Traditional finance is measured in hundreds of trillions, yet Defi just locked up the value of 1 Billion. The legacy finance has provided assets with so many varieties and such a huge amount; together with all kinds of financial instruments and models, it is safe to say that there are hardly any competitions right now in the business model that FinNexus is working on.

On the contrary, we would more than willing to see other projects making achievements in the same direction. Also, interoperability is a natural and important essence of Defi. We would like to be the foundation piece of the Defi legos. We are creating a new world of Finance and would like to do it together

Part 2

The community posted 453 questions for 3 minutes in the Telegram group. Ryan and Boris have chosen 5 best questions to answer.

First Question

Julye:

FinNexus’ goal is to provide diversification and convenience with the tokenized real-world assets. Users will be able to find assets with various risks and returns here, and can easily choose to their preferences like in a supermarket.

Boris Yang:

Yes of course. We try to build the protocols on which more assets from the different regions could be issued and operated on FinNexus. And in another way, users could see and choose these assets with different returns and risk easily. For users, it is like a supermarket of course. For token operators, it is like a tool to manage their assets process. In tech, we call it protocol clusters or stack.

Second Question

S.A.M. Crypto Trader:

What’s the main Role as well as Benefits of WanChain in the Finnexus Project? Also, If there anything wrong happened with Wanchain then, is there any effect of that on Finnexus?

Boris Yang:

Wanchain is one of our stone investors. Wanchain will support FinNexus on marketing and community, especially on technical things such as cross-chain protocols. I worked with Wanchain for a long time. We have a good relationship with the founder and members of Wanchain and cooperate smoothly. Because FinNexus is a protocol connection to different chains, So we will connect more in the future. We do not only depend on Wanchain. This year we will connect XRP too in the plan.

Third Question

Aluta:

Financial principles compromises of two fundamentals which are Value creation and appreciation on investment. People keep digital assets at a distance if they are categorized and labeled as “security” tokens because of regulatory issues. However, finance reflects our real economic lives, digital finance cannot totally abandon traditional real-world assets and live in the virtual world alone. Though, certain traits of traditional financial products limit the liquidity of assets around the globe. This can lead to regional barriers between supply and demand.

How can FinNexus help play a role in providing a solution to this issue?

Ryan:

You addressed the value creation in your questions. Actually, there are normally two aspects if we are talking it into the building of one blockchain project. Whether the business of the project creates or enhances the value and whether the token model captures the value in the operation of the business.

Most of the projects in Defi are building themselves based on crypto-initiated logic or ideas. Like the ETH ecosystem, Makerdao is the foundation of the Defi lego and is acting as sth like the central bank. Many other projects like compound, dydx, Uniswap, and many others are built on top. The value became interoperated and magnified by the Defi mansion.

However, there is still some distance away from the real-world application. FinNexus is building interoperable protocol clusters that enable a new world of open financial applications. It will introduce the real-world value inside the blockchain and treat the technology as a tool. With the FinNexus protocols, we may build sth different from the traditional finance and the Defi we have right now, with the merits of blockchain’s borderless, interoperable, trustworthy essence.

Fourth Question

lai Otacer23:

What does the FinNexus team think about long-term competitors such as traditional financial institutions, and what long-term strategies do they have to embrace traditional financial consumers?

Boris Yang:

We think traditional financial consumers are the future of blockchain and crypto-world. It is not good that we play a game in a small circle. That is why we think crypto-world need more assets with different risk and return. More assets could attract more traditional investors to join crypto-world. In the long-term, we have to face competitors from traditional finance, which means FinNexus is big enough. When it happens I think FNX will increase to a very high price.

Fifth Question

Maximar:

What was your inspiration to choose the name “FinNexus”? In which mind-born this project that seems amazing?

Ryan:

Finance here includes the traditional and the decentralized, and here we call it open finance. The traditional finance and the decentralized finance lie on each side of the finance continuum.

The significance of open finance is ‘open’, which means it is transparent, programmable, composable, and open-coded. It may be deployed decentralized, or with the combination of the centralized and decentralized means, for the purpose of openness, efficiency, and friendliness, to meet the specific stage requirements of current economic formats, regulators, basic assets and investors.

Nexus has the meaning of connection, bond, and integration.

It is the connection between the ideal and application. The ideal of the decentralized establishment gives us belief and impetus, while application concentrates on the implementation and down-to-earth. The nexus is aimed at casting the dream into reality.

It is the connection between technology and scenarios. Every success of technology is connected to its application, and the decentralized should discover its value in real-world scenarios.

It is the connection between traditional finance and blockchain. The blockchain technology bears the dreams of many developers and describes a world that is fully decentralized, trustworthy and bondless, especially in the field of finance. But Rome was not built in one day. Apart from the application in the crypto assets, more importantly, the blockchain should introduce itself to the traditional finance field, while benefit from its successful models and risk control systems.

It is the connection between technicality and practicality. The success of blockchain technology is depending on the acceptance of the social public and friendliness of the applications. It is necessary to combine the theoretical and the practical, and to disclose the information of risks and logic of returns in an efficient, precise, understandable and fairway.

Congrats! Satoshi CLUB x FinNexus AMA Winners.

They will share a bounty pool of 200 USD (BTC+FNX)

Part 1:

@mjorje

@marvelbounce

@pandas_btc

@vasekmures

@smithitty

Part 2:

@Boylut

@NickyJack1

@MaxiVV

@sam_cryptotrader

@moonsoon23

Part 3:

Question no.1: 84 answers/ 72 correct

Winners:

@popov77

@parisienne_a

Question no.2: 84 answers / 64 correct

Winners:

@malachi456

@bitociok

Question no.3: 82 answers / 53 correct

Winners:

@Dong_jun

@bitalik_vuterin

Question no.4: 89 answers / 42 correct

Winners:

@nguyenhn74

@trustmywallet

Question no.5: 88 answers / 24 correct

Winners:

@ieo_alert

@crypto_propeller

Satoshi Club contacts:
https://esatoshi.club/

https://t.me/Satoshi_club