Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.
Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Velas Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Velas
For more details:
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Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
At the finish line of the last summer month, SatoshiClub has prepared AMAs with the hottest and most unexpected projects. And today we would like to tell you about the AMA session with our friends from Stratera. The AMA took place on August 5 and our guests were G C and Abu-Bakr.
The total reward pool was 700$ and has been splitted in 3 parts.
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Serg: Hello dear community! Statera will be our guests today :blush:
Irina Kravchuk: Another great episode of our AMA series starting. Today we have as our guest @bakreemah.Welcome @bakreemah , thank for joining us. @derelick hello and thanks for joining
G C: Great to be here! Thanks for having us!
Abu-Bakr: Thanks. Am pleased to be here
Serg: Please tell us a bit about yourself and how did get involved with Statera 🙂
Irina Kravchuk: Please tell us a few words about yourself guys. Who’s gonna start?
G C: We are all actually community members, there is no team or business behind Statera. We strive to be a fully decentralized asset. Think more Bitcoin less XRP or TRON. Hopefully some day we will be a global immutable deflationary asset, a deflationary Bitcoin, if you will, though that is a big dream!
Abu-Bakr: In addition to this. We have remained decentralized from the beginning and will continue to do so. Today, myself and GC are here, but the next time may be some other community members I don’t even know. This is part of the essential vision of STAETRA PROJECT! A truly community driven decentralized deflationary project
Serg: Decentralization is one of the main advatages of the crypto world, it’s very important
G C: Yes it
provides many positives and makes for a much further reaching asset,
centralization would hold back a pure asset in many ways.
Irina Kravchuk: Maybe you can tell us how did you get involved in Statera, how did you discover the project and the community?
G C: I have been into digital assets since 2012. I have always focused on their ability to dismantle traditional financial systems and bring power back to the many. Classically speaking I received a masters from an Ivy League school and work in a job that wouldn’t love me doing this on my free time. 🙂 I found Statera through first hearing of a Deflationary Index Fund, that really piqued my interest, I began researching and writing about it, from there I started writing and doing research for the core team that are helping to steer the direction now. Though we plan on organically fading away and having the community lead in a decentralized way.
Abu-Bakr: I started learning about crypto 2 years ago and was interested in Ethereum and other dapp projects built on ETH. I came to know about Statera a long time before its creation. Launching Statera became successful as it is what we have always envisioned; a truly Decentralized Deflationary Project, owned and controlled by the community! Am so glad for we are and where we are headed!
Irina Kravchuk: The beauty of internet :blush:. Thanks for the follow up
Serg: Thank you for this introduction 🙂 The idea behind the project is noble. We’ve collected questions from the community. Are you ready to start discussing them?
Q1
from Bitcointalk
user kahlerr
Please
explain the Phoenix fund. What kind of income it generates? On what
is it based/backed?
Abu-Bakr: Basically, the Phoenix fund is our liquidity pool on Balancer, That is our Main pool drive, The Indexed pool. GC is going to respond regarding the ROI. Phoenix is STATERA’S Index portfolio consisting of WETH WBTC LINK SNX and DELTA. DELTA is a liquidity pool token that allow us to safely pool STA (Deflationary token) on balancer. It is a uniswap liquidity pool of STA/ETH pair. This method was deduced after the balancer exploit which drained our primary pool about a month back.
G C: The Phoenix Fund is a balancer pool that consists of LINK, SNX, ETH, wBTC, and Statera, Statera and ETH are wrapped in the Delta Token (This allows deflation to be securely and safely linked to the balancer pool). Phoenix acts like an index fund keeping the assets all balanced, this is ideal for investing it sells when assets go up to buy the other assets and buys when assets are low (automatically and continuously buys low and sells high). However, this index fund doesn’t charge a fee, it pays you to hold it. So you get passive income from holding Phoenix (the index fund is used to provide liquidity for exchanges, you get the fee the exchanges charge, you basically become Coinbase or Binance, decentralization at it’s finest). The returns on passive income are around 30% APY on the low end, but can stretch all the way to triple digit returns when volume is high.
One benefit of the system is that it actually thrives on volatility, the more volatile the market the more passive income you get. This is an AMAZING feature in the world of digital assets where there is unbelievable volatility. You just sit back and hold and enjoy the ups and downs while earning more crypto. The fees are paid out in the assets that are in the pools.
Serg: 30%? 😱
G C: That is a very conservative number:smile: If our June numbers were true every month (July is looking similar but haven’t completed calculations) it would be 900% APY, though we don’t think volume will stay that high all year, it is not impossible.
Irina Kravchuk: Sounds too good, Where’s the catch?
G C: There is impermanent loss, but if you go to the impermanent loss tab of the profit calculator you can see that it can be offset quite easily by the fees you earn. The main catch is that you have to be a long term holder, the more you pull out and put in the more you try to time the market the less your returns.
Abu-Bakr: Well, there is no catch. Our strength lies in the deflationary and Index aspect of the token mechanism. While there is continues arbitrage between the balancer trading the Index pool for balancing, there is a constant burn on every transaction being made, dwindling the supply, supporting the value of the token as it become scarce.
Serg: BTW, I see you have a picture from the currency of Zimbabwe. Are you implying the hyperinflation with this? 🙂
G C: lol, yes it is a slight dig at the many fiat currencies that have failed in the world. You can see why a global immutable deflationary digital asset would be good for the world. Many people think of deflation as bad, because it disincentives consumerism (which traditional economies LOVE), however a lot of research is beginning to surface showing the positives of deflation https://www.investopedia.com/articles/markets/111715/can-deflation-be-good.asp
Irina Kravchuk: good resource. Thanks for sharing
Serg: Your answers are very explanatory and I think that you partially covered some of the next questions 😁
G C: We foresee a world where Statera is used as a deflationary hedge against other assets. Not to name drop other currencies here but: Bitcoin – Inflationary AMPL – Elastic Statera – Deflationary
Abu-Bakr: In addition to this, Statera tends to serve as a proof of balance between Inflation, elasticity and deflationary.
Q2
from Bitcointalk
user saner2324
Can
sudden changes in coin price cause unbalanced coins to experience
liquidity problems? In this case, does joining arbitration solve the
liquidity problem?
G C: If you have very low liquidity it can cause issues, though the issue is just that you have wild price swings (there is never a failure of liquidity unless there isn’t enough for the trade or there is a smart contract exploit). Arbitrage (not arbitration) solves liquidity problems by pushing against inorganic price swings, our balancer pool also pushes against wild or inorganic price swings, if the price of Statera drops the Balancer uses it’s six figures of buying power to buy Statera at that artificially low price and bring it back up. All the while people in the Balancer and Uniswap liquidity pools get more fees. If you have high liquidity (say six figures) there will never be an imbalance the market adjust constantly and instantly to any coin movements, not allowing the coins to be imbalanced.
The only “imbalance” would be an inorganically high or low price, which the market (and arbitrage bots) would quickly remedy
Q3
from Telegram
user @olivegreece
What
is the purpose of your deflationary model? Which are the advantages
of this compared to other projects?
Serg: partially covered
G C: Deflation has many economic benefits: 1. Incentivizes Saving 2. Moves capital to worthy investments 3. Retains the value of capital Within our ecosystem it also produces positive price pressure and in turn reduces volatility. As trades are made every trade reduces supply which pushes up on price and down on volatility. The dwindling supply and in turn moving price also increases volume as the market reacts to the price changes. Deflation also acts as almost a loyalty reward (in relation to incentivizing savings) as you hold longer term there is no burn to your personal supply (no deflation) but all the traders, people in the market, and balancer pool keep on burning and deflating the supply. This makes your holdings more valuable, so it rewards you for buying early and holding long. While you are holding you can add to delta or phoenix to get even more rewards! While you are in those your supply also isn’t burned (it is in a secondary way as people trade, but not directly and not as much as you personally moving it around).
Abu-Bakr: Statera’s Deflationary mechanismreduces the supply of STA to help bring value to the currency, Deflation also creates a loyalty and holding incentive. The earlier a user buys STA, the higher the supply will be. The longer they hold, the lower the supply will go. As the user continues to hold, the decreasing supply continues to put positive price pressure on their holdings. This incentivizes the best practice of buying and holding, while intrinsically rewarding brand loyalty to Statera.
Serg: Is there a hypothetical posibility that it can get to zero? by deflation
G C: No, it is an asymptote, it nears zero but never reaches it, unless you go to infinity, in which case the earth would be engulfed in flames from the sun, so deflation would be the least of your worries. https://en.wikipedia.org/wiki/Asymptote
Serg: I didn’t ask for me. I asked for my grandgrandgrandgrandgrandgrandgrand children 😁
G C: add an infinity amount of “grands” and yes it would affect them
Irina Kravchuk: Sounds very tempting 😊
Serg: the deflationary model is a very interesting model and attractive for investors
Abu-Bakr: What is more interesting is the Deflationary being Indexed.
G C: and attractive for economies!:smile: If you run a country out there we’d be happy to discuss becoming your national currency :laughing:
Serg: Did you get in touch with the Zimbabwe central bank? 😁
G C: not yet, do you have their telegram username?
Irina Kravchuk: They didn’t have money to pay for their internet 😊
Why is it (the deflationary model) viewed as negative then? For states I mean
G C: It reduces spending and investments in “malinvestments” (deflation makes it so you don’t invest in bad investments, like Kodak or Hertz). The US has pumped out over 10 trillion in dollars to force people to buy things, hence the stock market at a all time high in the middle of a pandemic. If you want people to keep spending, which can produce jobs and spending in the economy do inflation. Unfortunately these are artificial boosters and the house of cards may come down sooner than later. The best answer is responsible inflation/deflation unfortunately we have gone FULL inflation, hence the global debt levels and artificially pumped up markets. Now a days the success of your company depends on getting government handouts more than providing actual value
Abu-Bakr: Centralization…
Irina Kravchuk: You mean a deflationary system is more decentralized?
Abu-Bakr: Nope…
Q4
from Telegram
user @Dzikray
Statera
claim to be a ”smart-exchange” which features make it ”smart”
and putstand in comparison with other exchanges and how can it
benefit traders?
G C: Not sure exactly what he is getting at but centralization is bad for economies (having a central bank decide your monetary policy on the fly without say from the people), that centralization when it forces deflation or inflation without regard for reality or the want of the people is an issue. Which is why immutable and sound monetary policy (which Statera has) is so powerful.
The “smart exchange” is in reference to this sentence I’m assuming “smart-exchange routing, including, but not limited to, Kyber, 0x, Relays, Uniswap, & Balancer” (on our website) What this means is the liquidity pools we are in (on uniswap and Balancer) route trades from all of these exchanges, so if you buy delta on Balancer it may actually pull from the liquidity pool on Uniswap and visa versa. Our liquidity pools route trades to whatever exchange needs them most.
These exchanges are
better because they are decentralized, give the fees to people
(rather than coinbase or binance), and give you the best prices
possible for assets.
Q5
from Telegram
user @bangkokwild
I
don’t get what is Delta token doing? why do you need it beside STA?
any benefits for the hodlers? Thanks!
Abu-Bakr: I think it has been covered above. DELTA is a liquidity pool token that allow us to safely pool STA (Deflationary token) on balancer. It is a uniswap liquidity pool of STA/ETH pair. This method was deduced after the balancer exploit which drained our primary pool about a month back
Serg: yes, some of the questions we discussed at the beginning
G C: Delta Token provides liquidity for STA on Uniswap (it is 50/50 ETH/STA). Anytime someone buys or sells STA it uses that pool for liquidity and pays Delta Token holders the fees. So if you are holding Delta token you are earning more ETH/STA about 30% APY but it can be much more. It is needed to provide liquidity for STA and to provide holders with passive income. Yes, it also allows us to link deflation to any ecosystem even if they can’t securely handle deflation, forgot that part in my answer.
Q6
from Telegram
user @Rosane1a8
How
can I as a Statera participant participate in liquidity mining, and
receive BAL as reward?
Part
2 — live questions from the Telegram community
Q1
from Telegram
user @kokonh
Marketing
is a central element for every project, so that everyone knows the
potential that a project can bring is vital to achieve the goals set.
What is your strategy to attract new users and Investor to $STA and
keep them long term?
G C: Attracting new ones: we have been very aggressive with marketing and have some more big things lined up. One of the biggest Youtubers covered us in actually one of the most comprehensive videos out there: https://www.youtube.com/watch?v=RRlJbe7ZUh0&t=2s We have more collaboration with big name companies and influencers on the way (we also partnered with the crypto app for marketing two weeks ago).
For keeping people long term our ecosystem is designed from the ground up for that. With the passive income and deflation it incentivizes people to stick around long term.
Q2
from Telegram
user Amina Peter
One
of the Statera portfolio options is Phoenix Fund Which you said it
was choosen by your team as best of the best option. Can you tell me
in details the benefits investors stand to gains if adopting this
option?
G C: You are diversified into some of the biggest names in crypto (LINK SNX wBTC wETH) and you get at least 30% returns on those, paid in each token, so you build your stack while you wait for the next great bull run.
Q3
from Telegram
user @DiegoRME
What
is Statera’s deflationary system like? How do you reduce total
supply? And how much will be the maximum supply that will be reduced?
Abu-Bakr: Deflationary happens on each transactions, and 1% is being burned. It is all on chain.
Q4
from Telegram
user @Car1a
What
technology stands behind Statera and why it’s better than the
existing one?
G C: It is a fully audited, immutable, and released smart contract. All supply is in the market and the developer wallet holds less than 5% of supply. Our token is more immutable, more decentralized, quicker, and cheaper than Bitcoin. It is set up to be a great currency/asset and it also deflationary! Not to mention it will benefit from the upgrades of ETH 2.0 making it even better. The token can never be changed and is now owned by the community, that is an innovation in and of itself
Q5
from Telegram
user @Jejelane
Why
should I invest in your token, do you guarantee I’ll be profitable?
Regulation
is very important. Many projects were closed in many countries due to
failure to use the correct regulations and permits. In order to go
global, how does the STA team deal with these issues?
G C: That is a big part of being decentralized. In the legal ruling on Ethereum a major factor was how decentralized it was (for why it wasn’t named a security and subject to more regulations or even banning). By being fully released and community owned we are as decentralized as you can be, which makes regulations fall much more in our favor (see: bitcoin)
Q7
from Telegram
user @BboyForteVZLA
The advantage of Statera over other projects is what you call the deflationary index fund, can you tell me more about that in more detail? What is the long-term benefit for a Statera investor?
I
am an ETHICAL HACKER AND EXPERIENCED DEVELOPER, do you have plans for
HACKATHON so as to check the security of your ecosytem periodically
and also invite developers to build STATERA
G C: We are always looking for community members to engage, if you or other people have a particular set of skills please DM Abu or myself! Our contract is third party audited by Hacken so we feel good on that, but we’d love to discuss other things to code!
Q9
from Telegram
user Amila19932
What
is your long-term vision about the gaming industry which STATERA
working on? Are you afraid some day there will be another project
with more innovative technology can replace STATERA ? Because we can
see many crypto projects related with this concept recently.
Abu-Bakr: Statera is not working on any gaming industry
Q10
from Telegram
user Arya
Why
not integrate with an better and more scalable network as Algorand or
Tron instead of Ethereum?
G C: In the simplest terms, two numbers: 100 million unique addresses 1 million daily transactions There are limits to ETH currently, and they are being worked on as we move towards ETH 2.0. There are also second layer solutions that could allow for more functionality at lower costs. We see our project as long term and long term we foresee the limitations of ETH being ameliorated. We don’t see it’s network effect or spread being beaten anytime soon, if ever. As technology advances and cross-chain interactions become more prevalent we would love to be available across all blockchains, if interoperability ever becomes that functional.
Q11
from Telegram
user @nazmudsadat
Southeast
Asia is a very challenging market and many are competing campaigns
here to attract investors, users and grow, with Statera do you see
how Southeast Asia is and do you plan to develop & update here?
G C: We have done some AMAs with local groups there and are expanding to exchanges in the area. We feel our setup as fully decentralized and being a deflationary asset makes us especially desirable to any developing nations. Deflation can be especially beneficial to investors from areas where their local currency is not strong or they want to start securing their wealth long term.
I’ll stick around
I’m on a call for a meeting but can answer questions here and there.
Q12
from Telegram
user @ttbqb3st
As
I see,STA contract is writed by Hacken AI but why do you use Ethereum
blockchain while Hacken AI use VET blockchain?
Abu-Bakr: The contract was deployed on Ethereum blockchain, Hacken as a smart contract security audit company auditted our contract to be free from bugs or other security issues.
Serg: Thank you guys! We will proceed with the quiz now. we know that your schedule is tight. There is no need to stay live during this if you have to go. We will tag you once the quiz is over
Abu-Bakr: Thanks for having us!
Part
3
– Quiz
Results
In the final part we would like you to check your knowledge in terms of Stratera. They’ve prepared 4 questions for this part, so everyone could be a part and answer. All the correct answers you will find at the bottom of this Recap. Enjoy!
Q1
What are the two functions of the Delta Token? A. Gain passive income on ETH/STA and safely bring deflation to any ecosystem B. Gain passive income on ETH/STA and run a Statera Node C. Invest in ETH/WBTC/LINK/SNX and get passive income D. Participate in an hourglass app and gain passive income
Q2
The Phoenix fund keeps you diversified and gives you passive income, which assets are in the Phoenix Fund? A. STA/ETH/wBTC B. STA/wBTC C. Delta/wETH/wBTC/LINK/SNX D. LEND/KNC/DELTA/wBTC/wETH
Q3
Liquidity pools function similar to a Crypto Index Fund, what are the benefits of being in a liquidity pool? A. Easy diversification, automatic rebalancing, and gain passive income B. Earn rewards when you enter and exit them, get staking rewards, and incentivize long term holding C. A way to reduce fees, increase your returns, and invest in new crypto each week. D. Automatically reinvest your passive income, keep your investments balanced, and benefit from Proof of Stake.
Q4
How does deflation benefit assets? A. Increases positive price pressure, creates a hard asset, incentivizes better economic decisions, and incentivizes long term holding. B. Increases the desire for consumers to spend, increases investment in any and everything, and increases economic output. C. Increases liquidity pool passive income returns, decreases supply over time, and reduces network costs. D. Increases the amount of the asset, responds to the price changes, and increases your gains.
The cryptoworld has become a financial support for millions of people, it grows every day more in number of projects, in the same way our telegram community grows and has exceeded 20k members. Today we would like to tell you about the AMA session with our friends from DEXT. The AMA took place on July 30 and our guest was @FredericDEXT.
The total reward pool was $800 and it was splitted into three parts.
In this AMA Recap we will try to summarize some of the most interesting points for you.
Frederic | DEXT: Hi, nice to be here with you, Congratulations
for your 20k members.
Irina K.| @Satoshi_Club: How are you? Thanks for the kind
words. 🥰
Serg | Satoshi Club: We are glad to have you here 🙂
Please tell us a bit about yourself and how did you start DEXtools 🙂 What was
the idea behind it.
Frederic | DEXT: Well, I am Frederic Fernández, i’m
the CMO and CoFounder of DEXTools. DEXTools borns of the need of a group of
cryptotraders that want to be better, so with our coding skills we tried to
build the best trading assistant for ourselves, so the result is DEXTools.
DEXTools is
a trading application created by Crypto-enthusiasts that aims to be the best
trading assistant for crypto-currency trading. From the beginning, our goal has
been to convert all the information provided by the APIs and the blockchain
into an intuitive and fast graphical environment, so that users do not have to
search for all the information step by step and thus save time and earn more
money due to the increased reaction time. As you know…In Crypto-Trading, a
few seconds can turn a good operation into a failed on.
Irina K.| @Satoshi_Club: So you are the first users of DEXTools? Where
you involved in finance before that? Before DexTools I mean.
Frederic | DEXT: We started as Cryptotraders at the
end of 2017, most part of the team worked as developers, and crypto was just a
hobby for us, after a promising months in the 2017 bull our gains were drained
due the hard bear market. so We had to adapt, because we fall in love with
Crypto, when most of our friends leave the trading, we adapted, and from that
strategies we develop and primitive tools, DEXTools was born.
Serg | Satoshi Club: you’ve entered the market at its
worst point. 🙂
Frederic | DEXT: Yes, i joined crypto in November 2017
and you always spend some months learning, at first you don’t nothing about
crypto and all is new. I think most people has the same feelings at the start.
Serg | Satoshi Club: Yes, my first interaction was to
build an ETH rig in 2016. 🙂
Frederic | DEXT: Nice investment.
Irina K.| @Satoshi_Club: Is the team located in a country or you work
remote?
Frederic | DEXT: We work remote by now, but we are all
from Spain.
Serg | Satoshi Club: It’s a nice country 🙂 I hope to
revisit it soon.
Q1 from Telegram user @romanstrode
Who is your target customers,
professional traders or the ones that are just getting started? Who can benefit
the most from the tools that you are offering?
Frederic | DEXT: Very good question. We ourselves
thought about that many times, when you have years of experience it’s hard to
think again like a newcomer. But I think our target are simply traders that
want to go one step further and take advantage of the tools we gave, a better
trader will benefit more of our tools, but a newcomer can also find it easier
to understand market movements and learn trading with our tools.
We try to
keep the app the most user friendly we can.
Q2 from Bitcointalk user pedronino
May I know where will the
subscription funds go? Directly to the team? What are you planning to do with
them? Are you planning to burn?
Frederic | DEXT: Yes, of course, the subscription fees
return to the team, but we do have also a burn feature, we will burn 50% of the
collected fees until 20 million are burned, and after that 10% of the collected
fees forever, that makes us a deflationary coin.
The rest of
the fees go into the team’s budget, but we may consider doing more burns in the
future or increasing the current ones. We want to keep it sustainable and think
long term.
Serg | Satoshi Club: And how will you use the rest of the
budget? Is there a plan for that?
Frederic | DEXT: We will adapt to the economic
conditions depending on the token price too. But we have not so many expenses
right now. Most of the budget will go to marketing and New exchanges, by now we
develop all tools by ourselves, so until we need to hire more team (which is
likely to do in 2021), we don’t have many expenses like other teams.
Serg | Satoshi Club: That’s a healthy plan, well organized.
In this way you will not run out of funds.
Frederic | DEXT: Thank you, as I said we try to think
long term.
Q3 from Bitcointalk user albert3990
You can talk a little about the bot
project that will be launched in the third semester in the premium plan. How
will it work?
Frederic | DEXT: Yes, the bot in which we were working
and that we have more advanced is the IDEX trading bot, that is likely to be
included in V1. It is an automated buy and sell bot, the first version will be
integrated into IDEX exchange, you can choose a currency and set some
parameters like a buy range (between 50-60 for example) and a sell range
(between 70-80 for example), so the bot will always try to buy in the buy range
and sell in the sell range maximizing the profit.
If you sell
your tokens, they can automatically put the buy order again until you give
another order or stop it.
Serg | Satoshi Club: It’s a good thing. I always set some
notifications for this but with a bot I think it might be easier.
Frederic | DEXT: We are working also in the token
catcher bot, if a big amount of tokens are deposited in the exchange, they will
put the order and try to catch the dip.
Irina K.| @Satoshi_Club: Does it use machine learning or AI
technologies? Or just plain buy/ sell functionalities?
Frederic | DEXT: It’s a feature that we already have
in idex, but you need to do it manually. I think trader should act and at least
give some parameters, but we are not against experimenting with some Trader IA
in the future. But the best results always come from traders’ experience and
good knowledge about the market.
Serg | Satoshi Club: So, basically, it is not giving me
advices or smth but is helping me organize my trades better.
Frederic | DEXT: Yes, the advice comes from the other
tools that show all the info you need to make better trades.
Serg | Satoshi Club: Let’s suppose that 100% from the IDEX
traders are using your services. What then? How will the trade go? I mean
wouldn’t it be influenced? can someone see what orders were made in the bot and
influence the trades?
Frederic | DEXT: The bots always try to put itself in
the first place, the rest comes from idex limitations. We will try that premium
users have preference obviously.
Serg | Satoshi Club: and btw, what revenue do you expect?
or how many subscriptions?
Frederic | DEXT: We have by now, in the lastest check
24000 users yesterday. We were growing in users 100% everyday last week.
Irina K.| @Satoshi_Club: Users with subscription? Or in general?
Frederic | DEXT: I cannot give an estimation because
we never expected those huge numbers. So next week when we close the beta we
will see. In general, beta by now is open and free for all.
Serg | Satoshi Club: Do you plan to add more use cases for
the token? beside buying the subscription? I hope you don’t mind my questions 😁 I am very curious.
Frederic | DEXT: Yes, of course, we have benefits for
the big holders, like a premium membership with free access to the app and some
of the top tier features will be only accessible by holders. The best trading
bots for uniswap for example, that I hope it will be released on Q4 2020 or max
Q 2021.
We will keep
developing and improving the app everyday since then. So it will be a soft
transition. One of the things that is important for us since the beginning is
to have a fully usable app so community could use it without long development
times.
Now we apply
the same philosophy to our development and we want people from community can
see the improvements of the app every week or month max.
Serg | Satoshi Club: that is really important to get ahead
of projects which are starting just with an idea.
Q4 from Telegram user @JP_Morgan_Chase
Will DEXTools have tutorials for
novice traders? How to use DEXTools tools correctly and analyze the market with
their help?
Frederic | DEXT: Yes, we are working currently on a
user guide to explain all the features we were including these last updates.
We have some
videos in our YouTube, but they are a bit outdated. We hope to release a new
one soon.
Q5 from Telegram user @Brainchest
In the roadmap, I saw no intention of
listing DEXT token on exchanges like Binance, Huobi and e.t.c.. Is this not
included in the immediate plans or not at all?
Frederic | DEXT: We are a small team, we had no ICO
and we released in Uniswap at first, so our budget by now is limited, and we
prioritize development, so TOP exchanges like that are a little far ahead from
our current situation in the market. But of course, we are open to list in any
of them. If they make a good offer and they show interest in our project.
But we are
focused on DEX mainly so it’s good our main exchange is a DEX like uniswap.
Serg | Satoshi Club: Do you plan to attract investments in
a form of private sale or a public one? in the future.
Frederic | DEXT: Yes, we are in touch with some
Blockchain Venture Funds and even some Spanish companies that are very
interested in our idea. But I cannot disclose our negotiations by now. As you
will understand.
Serg | Satoshi Club: I am glad to hear about that. wish
you good luck with that!
Q6 from Telegram user @occupyingmars
Please explain how your UNISWAP Pool
Explorer does function? How does it know when there are manipulations or when a
project is a scam?
Frederic | DEXT: Pool explorer works in the same way
as uniswap info with some additional tools, price chart and dext score are the
most popular by now. Chart works in real-time with the last 800 trades by now,
we will improve the history in v1 so you can change the time frame like the
charts from tradingview for example.
Irina K.| @Satoshi_Club: How is the dext score created?
Frederic | DEXT: About DEXT score, it’s based in 15
different parameters that are given to an algorithm we designed, usually most
info= most dext score, the info is taken from many sources. Time since contract
creation, number of holders, number of transactions, pool size and verified
contract on etherscan are some of the most important points.
We will keep
improving it with more parameters to give even a most accurate score in the
future.
Serg | Satoshi Club: That’s really nice, I don’t think
there is an equivalent.
Frederic | DEXT: Sometimes we cannot found info about
a token, so we included a warning symbol with and advice that every people
should know. Do Your Own Research Always. DEXT score is not infallible even if
it can filter 99% of uniswap scam.
……………………………………….
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The
chat was open for 80 seconds; around 500 questions were posted by the Satoshi
Club community. Our guest chose ten of them.
Q1 from Telegram User @Gladushka
The Polkadot ecosystem is actively
developing. Are you planning an integration with Polkaswap?
Frederic | DEXT: We are closely following the
development of new exchanges such as polkaswap and hope to be able to integrate
it when it comes out if it is successful.
Q2 from Telegram User @SIRJEETU
I read the intresting story behind the
idea of creating #DETX tools. My question is what was motivation for a small
team of traders who decided to create this massive. And are you guys adding
more clients like Uniswap in future?
Frederic | DEXT: We like crypto, we spend years trading
and developing for ourselves while we saw nice communities growing, we thought
that it will be nice sharing our tools to people and participate in the
ecosystem creating our own community in crypto.
Q3 from Telegram User @putu45
What is the structure of the company,
is it a decentralized, open sourced protocol where everybody can contribute? If
so, how does the governance plan on being handled?
Frederic | DEXT: We are a small team, so we are
organized by skills, all people in the team has a unique skill or more
experience in a particular thing. So we organize and work together very close
even being in different places. The best part of this team is that we are
friends, not only workers of the same project.
Q4 from Telegram User @Termuxnih
I believe in security, may I ask what
program is behind DexTools, whether C ++ or Php. if one or the other why you
use the program?
Frederic | DEXT: We use many technologies, the most
used in our project is Javascript and its framework Angular. For the backend,
we are developing in Node.
Q5 from Telegram User @Cuzz1
Can customers get support by DEXTools
without delivering sensitive personal information? What information do you save
on the system? Is it necessary to present the information? How does the system
protect users from risks?
Frederic | DEXT: We don’t have any kind of KYC and we
have not planned to have it, so no sensitive information is saved in our
system. We do not have any risk for users by now, we only provide information.
Q6 from Telegram User @Royalzackie
What is the importance of DEXT erc20
token and why DEXT choose Ethereum based Blockchain? There are many Blockchain
available. DEXT can choose trc20 also, but why erc20?
Frederic | DEXT: We choose ERC20 because it has a
bigger ecosystem, it’s easier to work with it because there is a lot more info
about everything you want to develop. It’s also easier to list on exchanges
like Uniswap that only works with erc20.
Q7 from Telegram User @erven12
Is using DEXTools Platform Affordable?
Frederic | DEXT: Yes, we will try the platform will be
affordable for most people, you can also use it for free if you are a top
holder, so you can buy our token, use it for free and after that selling it
(with profit if you are lucky or do it well).
Q8 from Telegram User @Lanre_Akorede
DEXT is the transaction data in the
new DEFI era. What I worry about is how you can provide accurate market data
considering the market manipulation of cryptocurrencies. Do you have Oracle to
ensure accurate transaction data?
Frederic | DEXT: We take most of our data from
Blockchain, so you can’t falsify it, also DEX in general have a more organic
volume and don’t falsify orders, volume or other things like other shady
exchange could do.
Q9 from Telegram User @T_ashish08
What do you think is
the biggest advantage that enables the team to lead the market? On the
contrary, what are your weaknesses? How do you plan to overcome it?
Frederic | DEXT: Our biggest advantage is that we are
crypto enthusiasts, experienced traders and experienced developers, so we have
a good mixture for doing a great job, our weakness is that is hard to compete
with bigger projects that have more money or connections than us. But we will
do our best.
Q10 from Telegram User @Alisonm1
What do you think are the issues that
IDEX & UNISWAP users are facing today? And What are the unique key factors
that DexTools has to offer?
Frederic | DEXT: The issues in IDEX and Uniswap are
very different, in IDEX you have to pass an interview to list, so there are few
scams in there, but the biggest issue is the lack of liquidity in most pairs, in
uniswap is the exact opposite, you have plenty of liquidity but there are many
scams because everyone can create a scam project and list.
So
we have to adapt to every exchange with the tools that they need.
Frederic | DEXT: Thank you too. Very good questions,
it was hard to choose.
……………………………………….
PART 3, QUIZ AND INFO
As
usual, for the third part, Satoshi Club Team asked the chat 4 questions about DEXT.
A link to a Quiz form were sent into the chat. Participants had 10 minutes to
answer. 500$ were distributed between the winners. You can check the list of
quiz winners here: https://t.me/Satoshi_club/189902
1.Out
of the first tokens that the users will use to pay for the subscriptions, how
many will be burned?
b)50% of the first 40 Million.
2.How
many dext tokens do I need to hold at least to use the complete pair explorer
during the beta phase?
a)5000 DEXT Tokens.
3.Which
features include the IDEX DEXTools?
c)Token Catch, Wallet info, Spread Hunter,
Ob search and Exchange Data.
4.
What is the planned date for the launch of the 1.0 version of the DEXTools
platform?
b)Q3 of 2020.
For more information and future AMAs, join our
Social Media channels:
You are in the right place now if you have at least a bit of excitement. Today we would like to tell you about the AMA session with our friends from BC Game. The AMA took place on July 30 and our guest were Coco ₿C.Game and SabrinaBCGame.
The total reward pool was 1000$ and has been splitted in 3 parts.
In this AMA Recap we will try to summarise the most interesting points for you.
Part
1 — introduction and
questions
from the Telegram&Bitcointalk
community
Serg: Hi! Today our AMA is with BC.Game. @BCGame_Coco welcome!
Irina Kravchuk: Hi everyone 🖖welcome @bcgame_coco How are you today?
Coco ₿C.Game: sup yall
Serg: Please tell us a bit about yourself and about BC.Game 🙂
BC.Game believes
that technology creates the future. That’s why we have open source
code and provably fair games.
We also support INSTANT Bitcoin
deposits and withdraws through our Lightning node and LNURL.
We is a fair and
impartial prediction and guessing platform. Our goal is to eliminate
all unfair factors and make players feel comfortable and have fun.
Irina Kravchuk: Thank you. I think we have more insights about this topic in the next questions from the community. Ready for the first question?
Coco ₿C.Game: yah
Q1 from Telegram user @Kinkai69
How
does BCGAME address crypto online casino issues such as market
regulations, money laundering, fraud, matchmaking and underage
gambling?
SabrinaBCGame: Take our classic dice as an example. To get the results, first we combine your serverSeed, clientSeed, nonce: combination = serverSeed + clientSeed + nonce. Second, we calculate the hash value of the combination with SHA-256. This gives us a 64-character hexadecimal string: hash = SHA-256 (combination). Finally, we take 8 characters of the hash and convert it to an int32 value. Then we divide the converted value by 0x100000000, multiply it by 10001 and divide it by 100 so that the resulting number conforms to the constraints of the dice range.
Everything can be verified by players themselves
Serg: advanced mathematics? 😁
Irina Kravchuk: Sounds fair indeed
Coco ₿C.Game: We have set up the API of the anti-fraud system to prevent fraud and money laundering. At the same time, we are actively applying for licenses to meet regulatory requirements.
Irina Kravchuk: Is BC Game’s license approved somewhere at the moment? Or is it still in the process of approval?
SabrinaBCGame: We’re still in the process. But we’re under good preparation of Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) policy and procedure
Q2
from Bitcointalk
user Zygote59
There
have been many crypto online casino mergers in the market since 2016.
Every company wants to seize the opportunity to find their
cyrptocurrency integration. So in terms of BCGAME, how can
cryptocurrency be redefined? What additional value will
cryptocurrency bring to online casino games?
Coco ₿C.Game: Some people say that cryptocurrency is just a means of payment, but I think this is a bottom-up revolution, financial freedom. BC.Game belongs to all community members, so the cryptocurrencies we listed are all supported by the communities, such as turtlecoin, doge, chainlink and enj
Q3
from Bitcointalk
user linderm
I
am interested in withdrawals. How do you assure me that my
withdrawals will be processed? How can you assure me that you will
not just put them on hold and confiscate them?
SabrinaBCGame: Reputation is our core foundation. We would never risk that for just your personal withdrawal. Unless it’s a billion dollar value BTC (JK
Serg: then I am safe 😁 , I don’t have 1 billion
Irina Kravchuk: Is it governed by some smart contract? The withdrawal process?
SabrinaBCGame: Yes of course
Q4 from Telegram user @ravi2139
What
algorithm is used to check the fairness of BC.Game? And does AI have
to do anything to break winning streak?
Coco ₿C.Game: thats the old question
Irina Kravchuk: The AI part was not covered. You can answer to that part only if you want
Coco ₿C.Game: And does AI have to do anything to break winning streak? old question lol
Serg: ok then )) This question was cleared
Q5 from Telegram user @kenny_vermaelen
Are
you going to add sport betting and live betting on sports? like
tennis, football and so on
Coco ₿C.Game: We have that plan, but will do it after we get the license
SabrinaBCGame: That’s in our plan and we’re on the right track. Hopefully it will be realized soon. Yeah after we obtain the license
Serg: in what country have you applied for license?
SabrinaBCGame: Curacao
Serg: I think that Malta also is a place for this Gibraltar
Irina Kravchuk: Good luck with this. Hopefully you’ll have it soon
Q6 from Telegram user @mohitku1
Can
you please tell which are the other games you are planning to bring?
Irina Kravchuk: We know about the sports already, what are the others?
SabrinaBCGame: We are in the process of building partnerships with other game providers to bring in more fun slots and live casino
Irina Kravchuk: Nice. When do you expect this to happen?
SabrinaBCGame: Soon enough players will have a lot more choices for games
Irina Kravchuk: I mean the new games, when are you planning to launch them?
SabrinaBCGame: The following months
Irina Kravchuk: The future’s bright. Thanks for your answers. This was all for part 1. Part 2 coming.
Part
2 — live questions from the Telegram community
Q1 from Telegram user @CryptoLove97
For an Online Blockchain Casino , The Biggest Issues are Fairness , Security & Transparency to its Users . How Does BC Game provide all These ?
Coco ₿C.Game: We keep open source, keep provably fair and verifiable and guarantee cold wallets to store assets. hell yes
Q2 from Telegram user @jobel4
BC.Game
is a gambling and casino platform but we know gambling is illegal. So
do you comply with some SEC requirements to run this kind of
platform?
Coco ₿C.Game: Gambling is illegal in some areas. I think the root cause is that many gambling companies provide unfair products and the government cannot control them. BC.Game is actively communicating with the Maltese government and the Curaçao government to establish a physical company,regulate our games and obtain licenses. btw i am very glad to meet you Jobel:hearts:, often see you active in the community. BCGame welcomes you!
Q3 from Telegram user @luckydraw66
This COCO I know you have a nice butt and like to brag it in all the community, so is there any way to prove that BCGAME is as beautiful and amazing as your butt?
SabrinaBCGame: What can I say? Just like you’ll know how great coco’s butt feels like unless you give it a real touch. You’ll only understand how wonderful our site is if you come to play
Q4 from Telegram user @ttbqb3st
Do
you have any plans to add blockchain into Bcgame?
Coco ₿C.Game: Yes! This is a good idea, we thought about uploading the results of each game to the chain to make sure we don’t change it. But obviously we will not use a large block like BSV (we are all Satoshi, except CSW)
Q5 from Telegram user @Santa077
How
big is the cryptocurrency betting market? What is BC Game’s target?
Is it available for all countries or are there restrictions?
Coco ₿C.Game: high-money bettors will be loved by coco and will have high rakeback The cryptocurrency betting market is as big as the moon :crescent_moon:, BC’s goal is to da moon:crescent_moon:
Q6 from Telegram user @asuop
How
does BC Game community so strong than the others blockchain game ?
And why people love coco so much when he appear :v ?
Coco ₿C.Game: Coco is a shitter with shitcodes ))) so ppl love him as love shitcodes
$[BCGAME-15ASM7RDP658C5BKSXI12BZOHBJ4Z2X5PQ]$
Irina Kravchuk: what is this?
Coco ₿C.Game:
shitcode
Q7 from Telegram user @ruhel00786
What
are the affiliates program of bc game can you please explain
SabrinaBCGame: We’re going to release our new affiliate project My Casino within this week. My Casino on BC.Game sets up a reward of 100 USD for each referral you invite in addition to commission rewards. It’s hard to build a casino, but you can start from managing your own table on BC.Game
Q8 from Telegram user @FrankLampardVN
How does bc.game have a healthy community and how do players trust on the casino system for bc game to be successful today?
Coco ₿C.Game: because we have you guys who support BC as always
Q9 from Telegram user @boom_cha
How many people or users do you already have on the BCGame platform? What is your strategy for growing a base or attracting users over time?
Coco ₿C.Game: we got 1.6M visits per month and keep going
Q10 from Telegram user @CryptoDurden
Is
the BC community involved in making games? Are there any plans to
host a Game BC Design where the community will create the rules for a
new BC game?
Coco ₿C.Game: So far, all the games are made by BCGame ourselves )))
Q11 from Telegram user @MrHappy1987
Can
you list 1-3 killer features of BC.game
that makes it ahead of its competitors? What is the competitive
advantage your platform has that you feel most confident about?
Coco ₿C.Game: we have shitcodes lol, no worry, I just answered
Part
3
– Quiz
Results
In the final part we would like you to check your knowledge in terms of BC Game. They’ve prepared 4 questions for this part.
Q1
Which
BC game has the best odds.
c. Black Jack
Q2
The
best way to increase your odds of catching rain is
Part 1: 300$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.
Part 2: 300$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Zelwin Team will select 10 questions and answer them.
Part 3: 900$ – A quiz about Zelwin
For more details:
Zelwin – @ZelwinRussia
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Part 1: $100 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.
Part 2: $100/10 users – Open chat for 80 seconds. You can post Max 5 questions. Statera Team will select 10 questions and answer them.
Part 3: $500 – A quiz about Statera
For more details:
Statera – @stateratoken
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
