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$/10 users – Open chat for 80 seconds. You can post Max 5 questions. QuiverX Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about QuiverX
For more details:
QuiverX – @QuiverXCapital
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Part 1: 250$ /12 users – We’ll select 12 questions from the community. A user can post maximum 3 questions. 12 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 250$/15 users – Open chat for 80 seconds. You can post Max 5 questions. DeFiat Team will select 15 questions and answer them.
Part 3: 1000$ – A quiz about DeFiat
For more details:
DeFiat – @defiat_crypto
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Today we have a guest SparkPoint crypto project. This Ecosystem is a ground-breaking payment gateway an alternative that will not just provide convenience to the market but will also, educate the people on financial literacy and satisfy the entertainment needs while rewarding its users. An all-in-one web-based and mobile application using Blockchain Technology and is integrated to use cryptocurrencies and fiat currencies.
Reward pool was: 500$
The AMA took place on October 28 and our guests were:
@andy_sparkpoint Andy Agnas Chief Executive Officer, Founder.
Rico Zuñiga: Hello everyone! Thank you, Serg for the welcome!
Serg | Satoshi Club: I received the usernames of the participants too late and for 10 minutes I didn’t have access to the Internet. Sorry f9r the delay
D. | Satoshi Club: @ricozuniga @mrmesias819 @andy_sparkpoint hello! there you are! 😀Welcome to Satoshi club!
andy.SparkPoint ( will never pm you first): Hi Serg, thank you for inviting us for this AMA.
Melissa Mesias: Hi, everyone at Satoshi Club!
Rico Zuñiga: Thank you! It’s our pleasure to be here!
Gold Rocket | Satoshi Club: Welcome guys and thanks for joining us. Please tell us a little about yourself. How did you develop in crypto? And also about your project. What is SparkPoint?
andy.SparkPoint ( will never pm you first): Hi everyone, I’m Andy Agnas, founder and CEO of SparkPoint. I’m CPA by profession and my background is in Finance, Accounting, Taxation and Management. Being a CPA, I’m running my own accounting firm and have been a consultant for various companies. I‘ve been a crypto enthusiast since 2016, being an investor before in various crypto projects and resource speaker in several cryptocurrency and blockchain technology seminars. In 2018, we founded SparkPoint and we have been more than two years already in this space.
SparkPoint Innovations Inc. or simply SparkPoint is a duly SEC-registered company in the Philippines. SparkPoint was founded on October 5, 2018. The company aims for a mainstream mass adoption of blockchain technology and cryptocurrency. With that, we have developed various products that comprise the SparkPoint ecosystem.
Sparkpoint has been around for more than two years already and continue building for bootstrapped and robust suite of blockchain products. Our utility token, SRK is one of the few tokens that has an ROI of over 1,000% according to CoinGecko and CoinMarketCap.
Our new ecosystem project is @SparkDeFi which is currently under development and soon we will launch our 1st product this quarter.
Gold Rocket | Satoshi Club: It means that we are a bit of a colleague. I am also an accountant)))
andy.SparkPoint ( will never pm you first): Glad to hear @GoldRocket27.
D. | Satoshi Club: Very impressive! and you survived the crypto winter, it’s an achievement as well! 😊👍
andy.SparkPoint ( will never pm you first): Yes, we grew out of the bear market and managed to have more than 1,000% return per CMC and CoinGecko.
Rico Zuñiga: Hello! My name is Rico Zuñiga, I’m the Chief Technology Officer (CTO) of SparkPoint. I’ve been with SparkPoint since it launched in 2018, initially as a technical advisor. I joined the company full time as their CTO last year in July 2019. Prior to SparkPoint, I was a blockchain architect for Wylog, a French IT company. I’ve also launched a few of my own startups during my 15+ years in the tech industry. I was introduced to crypto by a friend of mine who introduced me to Bitcoin back in 2011 🙂
D. | Satoshi Club: Did you mine bitcoin from the beginning? 😉
Rico Zuñiga: I didn’t, but my friend who introduced me to Bitcoin did mine early, and he profited a lot from it 🙂
Gold Rocket | Satoshi Club: Are you an early adopter? It is very interesting.
Rico Zuñiga: I dabbled early but only took crypto and blockchain seriously on a deeper technical level in 2017.
Melissa Mesias: Hi, I’m Melissa Mesias! I’m one of the Senior Marketing Specialists of SparkPoint. I have just recently joined the team and I’ll be leading the SparkLearn platform. My journey into cryptocurrency started when I was in college, that’s around 2016.
D. | Satoshi Club: Awesome! I started my crypto journey in 2017 as well😄Thank you guys for the great intro! I think we ready for the first part of our AMA! are you ready? we have 6 preselected questions in this part.
Melissa Mesias: Yes, after that I started my career in teaching and marketing at one of the universities in the Philippines, then I’m bringing my expertise to help SparkPoint grow more. 🙂
Gold Rocket | Satoshi Club: Thank you for the great presentation! Can we move on to questions from the community?
Melissa Mesias: Yes, we’re ready!
andy.SparkPoint ( will never pm you first): Sure and we’re already excited.
Rico Zuñiga: Yes! Ready and excited!
Q1 from Telegram user @arlarson You established the project in December 2018, almost 2 years now. Yet, I have seen that you didn’t manage to get into top projects at this time. Let us know what went wrong, what has to be changed in your opinion in order to get to the top.
Rico Zuñiga: Great question! Thanks, @Arlarson!
Let’s see, first, let’s put it into perspective to get a clearer picture.
We’ve raised less than $50k in funding when we launched compared to millions of dollars from other projects.
Most of these projects with millions in funding have already failed, and here we are 2 years later with less than $50k still standing 🙂
With $50k funding, it is very hard to reach a top project status for any company, but what our team has done with so little is hard to replicate. This can only be achieved through patience, tenacity, discipline especially in handling the limited resources, maturity, and strong leadership.
From this meager $50k funding, we’ve launched 3 games and 2 apps (including our SparkPoint wallet) and these apps have collectively reached tens of thousands of users. We’ve also grown our team from 2 to 10 full-time employees.
With only $50k funding, we’ve turned the SRK token from $0 into a $20M market cap token during its peak ATH. Now imagine what we can do with the $330k+ funding that we’ve raised so far in SparkDeFi.
D. | Satoshi Club: It’s really impressive! btw I know you conduct a presale right now (if I’m not mistaken), please share with us information about it😊
andy.SparkPoint ( will never pm you first): We are conducting a private sale for @SparkDeFi and will end on November 15, 2020. So far, we have already raised $340K. We will not conduct an ICO rather we will be listed directly initially at DEX.
Gold Rocket | Satoshi Club: Oh.. soon! Keep us updated!
Rico Zuñiga: There were things that went wrong of course which is normal with any project or company. And I think one of the biggest hurdles is the amount of funding and resources that we had. Which is what we’re trying to solve now with a bigger round of funding for SparkDeFi 🙂 Yes! As of now, the private presale for the SFUEL governance token of SparkDeFi is ongoing and we’ve raised around $340k so far in less than a week. Our target is $850k and we hope to hit this by the middle of November. And thank you!
Gold Rocket | Satoshi Club: Thank you for the honest answer. Anything else you want to add? Or can we go to the next question?
Rico Zuñiga: That’s it for me, thanks @GoldRocket27!
D. | Satoshi Club: You can share links with us of your presale? if you want to ofc😀
andy.SparkPoint ( will never pm you first): To those interested you can fill out this Private Sale Whitelisting form: https://forms.gle/ML8ZENTmEq7z3daJA
D. | Satoshi Club: Thank you for the answers guys! let’s jump to the second question?
andy.SparkPoint ( will never pm you first): Sure.
Q2 from Telegram user @konditer_rolex I have been watching your project for a while now. I have your CryptoShooter application installed. Tell us about other games and ways of collecting tokens. And explain how to use them. Since I learned how to play and how to get a token is not clear
D. | Satoshi Club: Speaking of games
Gold Rocket | Satoshi Club: These are your fans 😁
Rico Zuñiga: Thanks for the question @konditer_rolex!
Melissa Mesias: Thanks for the question, @konditer_rolex!
Crypto Shooter is one of the mobile game applications under SparkPlay. Aside from it, the other game apps are Crypto Slicer and Crypto Burst. You can earn SRK tokens in these games by either joining our organized tournaments in Crypto Slicer or by completing tasks for Crypto Burst. You must register an account at https://earn.sparkpoint.io/ to participate in bounties and tasks.
D. | Satoshi Club: We can download your games for free or need to pay something?
Rico Zuñiga: In the future, we will come up with a more decentralized way of earning tokens, but for now, the tournament approach is the more feasible one. It’s free to download 🙂
D. | Satoshi Club: Nice! I bought myself a new phone so I will try these games for sure! 😁
Rico Zuñiga: That’s great to hear! I hope you enjoy our games! 🙂
Melissa Mesias: The game apps can be downloaded for free 🙂
Gold Rocket | Satoshi Club: Excellent! I will try this
Rico Zuñiga: We earn through IAP (In-App-Purchases) of our game items, and through very minimal ads. We use a portion of this revenue to buy back SRK tokens from the market as part of our deflationary token approach.
andy.SparkPoint ( will never pm you first): Our other games are https://srk.sh/slicer https://srk.sh/burst where we are applying the Play to Earn model. In Crypto Slicer, we conducted several tournaments before where players were rewarded with SRK tokens along with our Sponsor’s tokens. In a crypto burst, players are rewarded with SRK in completing certain levels. Of course, they have to register in our https://earn.sparkpoint.io/ platform to claim their rewards.
Gold Rocket | Satoshi Club: thank you very much for your reply. want to add something or can we jump to the next question?
D. | Satoshi Club: how much tokens are possible to earn? if I will play these games 24/7 can I eventually become a millionaire?
Rico Zuñiga: Probably not a millionaire but definitely more rewarding compared to playing other games for 24/7 😆
Rico Zuñiga: Yes let’s jump to the next!
andy.SparkPoint ( will never pm you first): Definitely, more rewarding as compared to others. 😊
Q3 from Telegram user @Angieleal Besides the Philippines, are there other countries where you want to introduce the project? On the other hand, what is SparkPoint’s “CORE product”? What are you working on in a few months to end the year 2020?
Melissa Mesias: Thanks, @Angieleal for that question! Aside from the Philippines, SparkPoint plans to introduce our projects in other Southeast Asian countries like Indonesia, Singapore, etc. and for the remaining months of 2020, the SparkPoint team is working on the Q4 of 2020 targets related to SparkDeFi.
Please check out SparkDeFi’s roadmap at https://srk.finance/#roadmap.
D. | Satoshi Club: thank you! any upcoming partnerships you guys can talk of?
Hmmm…I see a magic word – airdrop, in your roadmap..how can I participate to get that sweet drop?😁
Rico Zuñiga: SRK holders will get SFUEL as an “airdrop” similar to how Uniswap distributed UNI to early adopters. We’ll have more details about this in the coming weeks, stay tuned on our Medium blog 🙂
Interesting question, @Angieleal! Our focus right now in the Philippines and we believe we have an unfair advantage here in terms of established expertise and familiarity with the place. We are in a great position to disrupt the remittance market once we’ve secured our VCE license next year (in progress). We’re also introducing SparkDeFi as a decentralized banking option to Filipinos while also taking care of the education aspect to attract more informed users to the platform.
Gold Rocket | Satoshi Club: Thanks! We will follow the news
D. | Satoshi Club: Very nice! looking forward to it!👍
Rico Zuñiga: Thanks @Cool_as_Ice and @GoldRocket27 !
We’ve sent an application to Binance for the $100M DeFi Support Fund for BSC projects and it’s still ongoing 🙂
andy.SparkPoint ( will never pm you first): Our flagship product is our own wallet ( https://play.google.com/store/apps/details?id=com.sparkpoint ) which we are continuously improving for the benefit and enjoyment of our users. Our latest feature is Uniswap integration and soon we will integrate other DApps. We are also planning to integrate fiat in our wallet once we get the coveted VCE license in our country.
Rico Zuñiga: Our SFUEL token will be launched as a native BEP20 token (Binance’s ERC20 equivalent) on Binance Smart Chain next month and most of our SparkDeFi solutions will run on BSC.
D. | Satoshi Club: That’s big! btw why did you choose to launch your project on the Binance chain?
Rico Zuñiga: Yes we did! Our SRK-ETH liquidity staking will still be launched on Ethereum, but most of the other SparkDeFi solutions will run on BSC (Binance Smart Chain).
We’re currently trying to develop a good relationship with Binance, I’ve personally volunteered to be part of their Binance X Evangelist team to help promote Binance Smart Chain to more developers.
Aside from the faster and cheaper transactions, we also like Binance’s strong support of the developer ecosystem, like the $100M DeFi support fund for Binance Smart Chain projects.
D. | Satoshi Club: Yeah this is great bonus! 😉😁
Rico Zuñiga: Yes indeed! 🙂
Gold Rocket | Satoshi Club: Thanks for sharing!
D. | Satoshi Club: thank you for your answer! if you ready we can proceed to the next question?
Rico Zuñiga: Yes! Let’s proceed 🙂
Q4 from Telegram user @Jonahapagu For Q4 2020 you planned to launch NFT mining Testnet and Sparkswap testnet ..NFT mining is not well-practiced at the moment. Can you explain how users can Mine NFTs using your platform when this goes live and what NFT’ Will they be mining
D. | Satoshi Club: NFT mining, this is something new👀
Rico Zuñiga: I think it’s mostly practiced in crypto games like Axie Infinity, which also recently launched their token on Binance Launchpad 🙂
D. | Satoshi Club: Need to try this as well. was never trying NFT mining…
andy.SparkPoint ( will never pm you first): Yes you can try first our own NFTs😊
Rico Zuñiga: We’re hoping to launch on Binance Launchpad this year, and highlight our own Crypto Slicer NFT offerings
D. | Satoshi Club: It would be awesome news! your project will skyrocket after this 😁👍
Rico Zuñiga: We share the same excitement @Cool_as_Ice 😁
andy.SparkPoint ( will never pm you first): Thank you and we are looking forward to it.
Gold Rocket | Satoshi Club: And I think so! Great chance to try it!
D. | Satoshi Club: I hope you will do this! 🚀
Thank you for the answers! and our next question about NFT as well! ready? 😇
Gold Rocket | Satoshi Club: Do you have something to add or can we proceed??
Rico Zuñiga: Let’s proceed 🙂
Gold Rocket | Satoshi Club: Let’s continue the topic of NFT in the next question.
Q5 from Telegram user @yzmoney One of the unique offerings of sparkDefi is the p2p lending and leverage NFT as collateral. Since NFT price is volatile, can you explain how the NFT collateral works? how does p2p lending works?
andy.SparkPoint ( will never pm you first): The process in P2P Lending in @SparkDeFi is very simple and straightforward both for fungible and non-fungible tokens. Generally, there are two parties involved who are the lender and the borrower. Parties should consider first certain economic factors such as interest rate, collateral, maturity date, and principal before proceeding with the loan agreement. So P2P Lending in SparkDeFi will work like this:
For the borrower (Request a loan) : 1. Request or apply for the desired loan 2. Accept the terms and deposit the collateral 3. Receive the amount borrowed 4. Repay the principal including the interest and get back/recover the collateral
For the lender (Create an offer): 1. Pick up or create a loan offers 2. Negotiate and agree with the terms 3. Transfer the principal amount 4. Receive full payments including the interest minus platform fees.
All transactions will be executed through a smart contract deployed using blockchain technology in our P2P Lending platform.
andy.SparkPoint ( will never pm you first): NFTs are a growing industry and its popularity has jumped considerably, as the concept is seeing a massive inflow of funds. For this reason, we also include NFTs as an important feature in our lending platform where users can use their NFTs as collateral. The approach is the same as the fungible tokens being used as collateral in our P2P Lending.
Gold Rocket | Satoshi Club: What detailed сlarifications!👍 Thank you very much!
andy.SparkPoint ( will never pm you first): Thank you @GoldRocket27
Gold Rocket | Satoshi Club: This is definitely a promising direction for crypto.
andy.SparkPoint ( will never pm you first): We will also support microlending to be more inclusive.
Rico Zuñiga: And soon we’ll also see NFTs that represent physical assets like real estate or physical works of art 🙂
Gold Rocket | Satoshi Club: It’s impressive!
D. | Satoshi Club: Oh yeah, I’ve heard about this approach as well. this is will be very interesting to see!
Gold Rocket | Satoshi Club: Can we proceed. Or you want to add something?
Rico Zuñiga: Let’s proceed 🙂
Q6 from Telegram user @HurricaneLad You claim to have strong track records of launching blockchain products 2 years ago. Can you name some of these products which you claim to have launched in the past years?👌
Rico Zuñiga: Thanks for the great question @HurricaneLad !
This is very much related to question #1 🙂
So far, we’ve launched 3 games and 2 apps. The first app we’ve ever launched last year was Delivery Expark which is a food delivery and logistics app. We’ve had early traction but had to put it on hold for now.
The second app we’ve launched is our flagship app, SparkPoint wallet which already has 12k downloads the last time I checked (earlier today).
Next, we’ve launched 3 games, Crypto Slicer, Crypto Burst, and Crypto Shooter. Collectively these 3 games have 40k downloads.
We’ve also launched SparkLearn, our E-learning platform with 2 exclusive free courses on cryptocurrency and investing.
Lastly, earlier this year, we’ve launched SparkEarn which is our cryptocurrency earning platform through simple bounties. We’re planning to relaunch SparkEarn as a central SparkPoint platform to access all our apps and services.
SparkEarn has 30k+ registered users which we’d like to leverage for all our platforms.
D. | Satoshi Club: You guys did lots of hard work! 👍
Rico Zuñiga: Thank you @GoldRocket27 and @Cool_as_Ice!
andy.SparkPoint ( will never pm you first): Thank you @GoldRocket27 and @Cool_as_Ice. @SparkDeFi which is under development: https://srk.finance/app/stake
Melissa Mesias: You can know more about SparkLearn and at the same time register as well through here https://learn.sparkpoint.io/.
D. | Satoshi Club: And I know you have a Youtube channel with some educational videos if am I right? please drop the link in the chat 😊
Gold Rocket | Satoshi Club: Btw how big do you have a dev team?
Rico Zuñiga: We have 7 full-time devs including me 🙂
Rico Zuñiga: But we’ve launched most of our products with only 3 devs!
D. | Satoshi Club: 👍thanks!
Gold Rocket | Satoshi Club: you are doing a great job!
Rico Zuñiga: Thank you very much @GoldRocket27!
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS.
In this part the chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose the best of them.
Q-1 from telegram user @AugusS7
SparkPoint really is the first non-custodial wallet in the Philippines, which is great! But there really are many worldwide, apart from having a diverse ecosystem of games and training, what other benefits it has over other non-custodial wallets? is it safer than the rest?
Rico Zuñiga: Thank you for this question, @AugusS7 ! As for safety, it’s as safe as how the user makes it which is what non-custodial wallets are all about, giving back the power and control to users.
As for advantages, be the default, it is the best wallet to use for holding SRK, and soon SFUEL. We’re also going to fully integrate the wallet with our SparkDeFi platform so it’s going to be the best wallet to use for it. Outside of these default advantages, I’d say it also has the benefit of having a passionate and high performing development team behind it 🙂
Q-2 from telegram user @jpsarmah
Will the introduction of SFUEL divert the team’s focus and dilute the growth, value and users’ interest in SRK?
andy.SparkPoint ( will never pm you first): SRK is still the primary token in SparkPoint’s ecosystem. SFUEL is the governance token in SparkDeFi platform like other DeFi projects which have a governance token also. SRK will also be utilized in SparkDeFi platform such as liquidity mining rewards, collateral, etc. For more details, please visit here: https://sparkpoint.io/token.
Q-3 from telegram user @JoxesXIII
Do the SparkLearn courses have any cost? which and how many modules are available at the moment? Does it have accredited experts?
Melissa Mesias: SparkLearn offers two free courses, one for Cryptocurrency 101 and one for Investing 101. The next course is about DeFi 101 which is a free course and it will be available on Oct 30, 2020 so watch out for it. 🙂 As for the mentors, we are currently in the process of onboarding them and we are looking into their background and what they have to contribute to the SparkLearn platform aside from creating and teaching courses.
Q-4 from telegram user @Rebel99
I see that you currently have an ongoing private sale, targeting a raise of $950,000. I would say that’s a very conservative amount, with the planned implementations as contained in your roadmap, would this amount be enough?
Rico Zuñiga: Great question @Rebel99 ! Indeed it’s a small amount compared to others who are raising millions of dollars. We’re basing our estimates from our previous performance with our first round of funding (the less than $50k initial fund) and we believe that $950k is enough for us to deliver our 2020-2021 roadmap for both SparkPoint in general and SparkDeFi in particular. Our team is well-positioned to be located in the Philippines which enjoys a lower cost of living for the developers and lower operational cost for the company which we are leveraging to maximize the $950k funding.
Q-5 from telegram user @WillyJohnsen
Can I still get SFUEL if I’m providing liquidity on Uniswap between SRK and ETH?
andy.SparkPoint ( will never pm you first): Yes you can get SFUEL when you provide liquidity for SRK and ETH pool. You can also get SFUEL when you choose SFUEL and ETH pool. You can check our web app preview here for more details: https://srk.finance/app/stake
Q-6 from telegram user @Brucedt
Is your team the best? Do you have any blockchain engineers on the team or have plans to add additional?
Rico Zuñiga: We’re not the best, but we continuously improve and strive to be the best 🙂 I believe that having a growth mindset is better than being “the best”. As of now, we have 4 senior blockchain engineers in the team (including me) and 3 junior developers which we are training to become senior blockchain developers too. We’re planning to continuously hire more talented developers in the coming months!
Q-7 from telegram user @Alika061
Can you give me the unique features and what is important in SparkDeFi in #SparkPoint?
andy.SparkPoint ( will never pm you first): I think our unique features are: 1.) NFTs can be used as collateral 2.) Supports microlending to democratize finance 3.) NFT mining and 4.) Other crypto assets can also be used as collateral which is currently untapped by existing lending protocols. With the introduction of SparkDeFi in our ecosystem, SRK utilities are enhanced and more new users/investors will be more aware of SparkPoint.
Q-8 from telegram user @sentung5
DeFi is booming. Lots of new projects and users are popping into this space like a war. Offering their respective features and advantages..the importance is now, what are the impressive features that make SparkPoint not the same as others?
Rico Zuñiga: DeFi is actually now losing some steam 🙂 But we’re not in it for the short-term, unlike most other projects who are in it for the quick buck. We have a deeper and more long-term view of DeFi We believe it is the future of banking and will take the power from the bankers (the middlemen) and give back control to the users. Our advantage is our patience and long-term outlook.
Q-9 from telegram user @kun4321
Who can use SparkLearn? How do you plan to attract more users?
Melissa Mesias:
Anyone can use SparkLearn, just create an account at https://earn.sparkpoint.io/register and use your SparkEarn account to register on the SparkLearn platform. To attract more student users, the SparkPoint team is enhancing the UI/UX of the platform, the onboarding of new SparkLearn mentors, and the adoption of the Learn-to-Earn model so student users can earn rewards through activities, quizzes, or completion of the course, etc. 😊 SparkLearn will also be offering a certificate of completion for some courses, soon!
Q-10 from telegram user @baimwong1
What blockchain network does SparkPoint belong to or has its own network?
Rico Zuñiga: SparkPoint Token or SRK lives on Ethereum as an ERC20 token and will continue to do so in the foreseeable future. SFUEL will be launched on Binance Smart Chain as a BEP20 token to take full advantage of BSC’s faster and cheaper transactions as well as Binance’s strong support of its developer community. We’re also avoiding putting “all our eggs into one basket” 🙂 If Eth2 launches and it becomes even more dominant, we have SRK, and if BSC becomes one of the most dominant blockchains in the near future, we have SFUEL on it to take advantage of this.
One more question (not rewarded) from telegram user @soleh2001
Now, the token launch process is easy, but to develop the ecosystem, stabilize prices, expand the market is a challenge in every project? So what are your team’s first steps towards solving this problem? what is your plan to maintain token price & supply in the market?
andy.SparkPoint ( will never pm you first):
Yes this is correct. A lot of projects failed even though they raised millions of dollars. Our approach is pragmatic. We primarily focus more on product developments without leaving behind our project’s marketing. We do not build hype rather we are working around the clock to meet our roadmap or timeline. With this approach, we are able to stabilize our token price ( we belong to a few projects that have an ROI of 1,000% per cmc and coingecko and at its peak more than 2,000%)
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ was distributed between the winners.
And here we go with new series of AMAs in Satoshi Club! Today we would like to tell you about the AMA session with our friends from Poolz. The AMA took place on October 25 and our guests were Guy Oren, Liam Poolz and Stan.
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
Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Poolz! welcome to Satoshi Club:grinning:
D. | Satoshi Club: hello all!
Liam Poolz: Hello everyone, great to be here 🙂
Guy Oren: Hi all 😊
Mary | Satoshi Club: Happy to see you here guys! Could you introduce yourself and tell us how did you start with Poolz?:wink:
Guy Oren: Hi, I will start with intro about Poolz. The idea of Poolz came up as our own idea, the founders participated in a number of early-stage token sales over the past few months. In some of them we have achieved good results in terms of ROI, and in others we get some “scams” and in this point we understand that the existing model has a few improvements to do. In this stage we “jump” to a deep research in order to investigate this issue and understand what exists in the market today, what the problems are and how we can make a better solution accessible to the ecosystem. and as said, the rest is history. Welcome to Poolz.
Liam Poolz: Regarding Poolz Founders, We are tech serial entrepreneurs with a history of working in the computer software and blockchain industry, personally been a crypto investor for over 6 years, and have gained a lot of connections and knowledge in the field. In his most recent role, he managed community engagement at Endor Software, a MIT based startup that raised over $ 50 million, including from the Google Founder VC. Guy CEO: is a Serial tech entrepreneur and founder of 2 startup companies, which employed over 40 people. In his most recent role, Guy was the COO & Founder of Fokoya, A Fintech company that provides a gamification platform for the financial market based on P2P technology and operated across 60 countries. He is experienced in managing operations, go-to approach, P&L management and fast-moving environment. Stan CTO: Experienced and out of box Founder and developer with a demonstrated history of working in the computer software industry. Skilled in Management and Strong business development working to bring the future closer. He loves cutting edge technology, and has entered the blockchain space in 2016, where he co-founded Cryptonex – Algo Trade. His main focus is on Poolz Defi with helping build the first cross-chain decentralized environment architecture designed uniquely for DAO ecosystems.
Mary | Satoshi Club: How much time elapsed between the idea and the creation of the project?
Guy Oren: All started 4 months ago when we realise the problem with the existing model for fixed price token sale, and from there we jump fast in order to create Poolz and develop the platform.
I always read about the 2-layer protocol but your Poolz project have a layer-3 swapping protocol. Can you please explain how a 3-layer protocol works on your platform and its difference on a 2-layer protocol?
D. | Satoshi Club: but please, first of all, tell a bit about layer 2, what kinda possibilities and solutions this layer provides? 😊
Liam Poolz: Layer 3, is the place where general applications developed on the second Layer could be used for develop specific solutions. Using smart contract or atomic swaps or lightning networks for APIs, developers can integrate and build applications that serve a narrow and specific function. Decentralized Finance (DeFi) is one of the application built on the third layer, and here Poolz for this space we are aiming Poolz
Guy Oren: Layer-2, on the other hand, is an overlaying network that lies on top of the underlying blockchain. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system.
Mary | Satoshi Club: It’s like specific solutions for specific solutions)))
Guy Oren: Lol. we can said it.
Mary | Satoshi Club: Ok, tell me in simple words – why Layer 3 is better for Poolz? Something will be faster, cheaper, safer? Or all of the above?)
Guy Oren: Or all of the above (: Layer 3 allowing us build apps on top of the existing solutions and providing cost effective, cheaper abd faster soulition. The Poolz code architecture is clean, modular, and decluttered. Following a minimalistic approach to code development, the platform ensures resource-optimization, such that only the essential data is anchored on the blockchain and in the best-suited format. Together, the practices ensure a perfectly balanced and minimal gas fee for transactions on the Poolz platform. As per the latest tests, the cumulative gas used for transactions was 284322, costing a gas fee of $23 (given, ETH = $350). we were able to lower the costs compared to our competitors in the market (75% less).
Thank you layer-3 (:
Mary | Satoshi Club: Oh, yes) that’s impressive :+1: Now it is clearer) numbers always speaks louder 😂
I can see from your lightpaper that apart from DIRECT SALE POOL which we are familiar with,you also conduct TIME LOCKED POOLS.Please can you explain more on this time locked pool?
Guy Oren: Hi @Splendicity, There will be two types of pools on the platform—Direct Sale Pools (DSP) and Time-Locked Pools (TLP). Direct Sale Pools (DSP): These are pools without any lock-in period, where investors get the token immediately after the swap. Time-Locked Pools (TLP): These pools have a predefined lock-in period and investors receive their swapped tokens only after the completion of this duration. Poolz’s smart contract will also enable pool creators to define custom lock-in periods, thus releasing the swapped assets incrementally. For instance, say, disburse 40% of the swapped tokens immediately and, after say 1 month, the remaining 60% in 6-equal monthly vesting.
Mary | Satoshi Club: So, DSP – i pay and recieve tokens immediately, in the case with TLP – i will receive tokens after lock up period, right?
Guy Oren: Exactly.
Stan:
Hi all, I’m Stan (CTO of Poolz). this is the full flow of the Poolz:
D. | Satoshi Club: great! this scheme clearly shows how pools work. thanks
Mary
| Satoshi Club: It’s common
practice for seed investors, as i understand. Which projects you see
as competitors in this field?
Liam Poolz: One competitor who made great success within the last month is Bounce.finance”, symbol- BOT. The huge difference between us is that they can’t do cross-chain pools, but only ERC20 blockchain.
Mary | Satoshi Club: Yes) i know this project) did you already test cross-chain pools?
Guy Oren: Yes, at the moment we are working on new integration regarding cross chain solution. I believe we will announce it officially in the next few weeks
Stan:
I can add this here, about the cross-chain:
Mary | Satoshi Club: Don’t forget to share this info with us:wink: we like to hear such news)
Guy Oren: Deal. You will be the first to know.
Mary | Satoshi Club: Btw, with which blockchains you plan to work?
Guy Oren: We aim to providing fully-cross chain solutions. it’s mean that we are targeting the Blockchain (layer 2 solution) in the space. At the begigng we will start with the one and icrusing the numbers of integratsions during the time. As our code code design uniquely and already allow us to scaling our platform
I read on your website that Poolz “provides an immediate cash flow option for promising projects”. My question is, what do you really call “promising projects”? Based on what metrics or data do you decide a project is worthwhile or not? Is it up to you or the community?
Liam Poolz: In the end, it is the investor’s choice in which project to invest. From our side, we aim to bring promising projects and make serious and professional DD. We are going to work with several ”labs” that will help us make DD better while selecting legit projects. Besides, our team will work with a reputable company that will do the audit for all the smart contracts of the projects that will raise money for our platform, and another step that will help minimize risks.
Mary | Satoshi Club: DD?)
Liam Poolz: Due diligence is an investigation, audit, or review performed to confirm the facts of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.
Mary | Satoshi Club: So, you will need several partners – for DD and audit, right?
Guy Oren: Yes. As Liam said , there are a number of tactics that can be used and intargre in our system in order to help investors make the right decisions.
Mary | Satoshi Club: Can you give us some names? Or it’s still on early stage?
Guy Oren: Yes, it is to early yet. We cannot show all our cards. But yes, we are on it and hope to ann very soon. Let’s keep someting to the next AMA (:
There is a Pool Status called “Out of Stock”. Why isn’t the pool switched to “Finished” status automatically when the tokens are sold out? Is there a chance for returning the tokens purchased during this period, so that the pool will be available again for other investors?
Stan: Hi @apocan99 , its very nice catch from you. this status is for the TLP, that the “sale” part is over, but its mark the pool in this status until all the tokens get to the right owner, the investor.
D. | Satoshi Club: and after that pool will change its status?
Stan: Yes, its more administrative status.
Mary | Satoshi Club: Btw, what about POZ tokens?) Are they out of stock?)))
Stan:
That was is left on the TestNet:
Mary | Satoshi Club: Where and how can i get POZ tokens?)
Liam Poolz: Actually our Private sale is currently running (about to end) while focusing on strategic investors. We will also planning to schedule a small allocation event to our community members, really soon 😉
Mary | Satoshi Club: Oh, that’s what i am interested in) waiting for your announcements 😉
16.6% of the daily earnings will be burnt as I understand. Explain what will be the earnings. How much do you approximate the burn in tokens?
Guy Oren: As part of our long term strategy our aim is to keep and incesie the token value. We are putting a lot of efforts in order to define a strong strategy and to build a burning mechanism that will be implemented from day one at Poolz Platform. Token Burn: PoolzDefi will follow a Limited Top Value burn policy, using 16.667% of its daily earnings to market buy POZ tokens (upto 20% of total supply) and burn them. This, in turn, will enhance the ROI for the entire POZ holder community, by enhancing the token’s inherent value. Our Business model based on total swapping volume in the platform. Poolz will earn up to 2% from the total daily swapping turnover- It’s will dependent of some parameters. (%2, can be changed by governance in the future)
Mary | Satoshi Club: So, POZ token will be also governance token?
Guy Oren: Not just the token. The whole system. As our core code is designed uniquely for DAO ecosystems and based on smart contract.
Mary | Satoshi Club: It’s interesting, pure decentralisation)
Guy Oren: Such, POZ token holders will have a say in product features, token utility, auction types, platform fees, conditions for pool creation, the terms of governance, as well as the platform’s future plans and trajectory.
Common problems of DeFi projects come from bugs smart contract, poor user experience due to lack of UI / UX. But Poolz can solve this with the React Native tool. So what is React Native and how does it work?
Stan: Great point, @minhtuyen0711. we try to make the UX/UI smooth as possible. Using react and web3 to do so. very soon you can see (and tell us your opinion) the system in the testnet.
Mary | Satoshi Club: Who can join testnet?)
Stan:
This is the last update from the testnet:
Guy Oren: The testnet will be available to the community/to anyone that have Metamask. We are want to learn from them in order to providing better solution to the ecosystem.
D. | Satoshi Club: will you have a bug bounty program?
Guy Oren: Absolutely, under the Rinkeby.
Mary | Satoshi Club: Oh, it’s always interesting to join such programs and learn:+1: And now our Satoshiclubbers are waiting for this chat to be open:wink:
Part
2 — live questions from the Telegram community
Q1 from Telegram user @Winterkom
–
In Poolz there are 2 types of pools, Direct Sale Pools and
Time-Locked Pools. What additional benefits does TLP have for users
by locking their tokens in that pool? Do you get a better yield?
Stan: Its up to the project owner.
Q2 from Telegram user @Jmagsss
In
your platform, do I need a background knowledge on programming like
C, C++ or Java to fully develop a product under Poolz?
Stan: We aim to give you A-Z solution without any programing background (spoiler: even making a token)
Q3 from Telegram user @Jmagsss
Integrations
and partnerships are somewhat important to greatly increase the
progress of a project, for Poolz, do you already have established
partnerships with other projects/companies that and will there be
many to come in the future?
Liam Poolz: Agree, that is indeed very important issue as you mentioned. To date, our investors & Official Partners & advisory include: Market Across- The crypto world leading PR & Marketing company. Representing leading and successful brands as Binance, Tron, Polkadot and more. Aggressor Capital- Private equity VC. OMS Capital- Investment firm specializing in emerging cryptocurrencies technologies. Invested in very successful and known companies as: DIA, RioDeFi, Chromia and more. Big partnerships to come within the next weeks:) even this week 😉
Q4 from Telegram user @jpsarmah
How
are your Cross-Chain Swaps different in functioning from your Poolz
Bridge?
Stan: The Bridge is part (one of many) of the cross chain.
Q5 from Telegram user Harsha
A
defi project=money making project
On this time it is the only
legit project that I know in these days… Everyone knows a defi
projects price will boom after the launching….
My question is
: Aside listing on uniswap will POZ be listed on any other CEX OR
DEX?
Guy Oren: Is a great question and we had a lot of inside discussion regarding this topic. We are aiming to do build solution on the of the exsiting infrastructure, and absulotly the CEX will be part of our lonf-term solotion as they are still the biggest player in the space.
Q6 from Telegram user @Rebel99
What
is the minimum amount of Poolz to be own in order to take part
Stan: It will be around 80 tokens. to be eligible for the POZ holder benefit. but this number can change (using the governance)
Q7 from Telegram user CRYPTOCOMMUNITY
The
marketing strategy is the keyrole is every project,without presale
how are going to market this and develop your community?
Liam Poolz: As the CMO of Poolz, I have to gree 😉 At the level of PR, we work and are accompanied by “Market Across”, a leading company in the field that works with top brands as “Binance”, “Polkadot” and Tron. In terms of marketing, we are connected to a number of well-known communities and crypto influencers who will help us spread Poolz to the world. We plan to launch a significant PR campaign next week, which will include reviews and articles on leading technology and economic sites. We work also to establish communities run by local community leaders in various countries such as Vietnam, Korea, Japan and more. we will forge strategic collaborations with leading blockchain companies, in order to allow them to do cross chain swaps on Poolz platform – our ultimate customers, as part of an agreement with each blockchain we plan a joint PR campaign. The collaboration will bring new relevant users to the platform.
Q8 from Telegram user @K2ice
I
don’t have the knowledge of liquidity pool and I don’t seem to
understand it so far. How can I be a part of it?
Guy Oren: Nice to meet you first of all. Swapping Rewards (LP) In proportion to their contributions, liquidity providers will gain a percentage of the total liquidity deposited over the current week. Swapping rewards on the platform will be calculated and disbursed every 4 hour and in weekly cycles. Mechanism: Suppose, LP (A) contributes to Pool (1) in the first 4-hour slot of Day(1)—Week(1). Now, if LP (A) is the only investor during this period, he/she get 100% of the swapping reward for that slot. Then, say, on the third 4-hour slot of Day (2)—Week(1), LP (A) would still be eligible for swapping rewards, but in proportion to the total liquidity deposited in the meanwhile. Likewise, LP (A) continues to get some reward for the remaining week. liquidity providers can claim rewards in POZ for contributing to the network. at the beginning the calculation will be every 4 Hours, can be changed by governance in the future
Q9 from Telegram user @KevSalom
–
As an investor or liquidity provider, as I read in your litepaper, I
will have the option of joining two types of groups, “Created
State” and “Open State”, what is the difference
between the two? Which one gives greater benefit?
Stan: The Created give you the discounted price (set by the project owner). So you can be first to take part on the project.
Guy Oren: The Defi is the hottest topic in the space and there is a reason for that. As the infrastructure and the ecosystem recognize that the most important issue in order to grow is continue to build the Defi space provide the best solution for this issue. Due to the decentralized motive that anyone can be part of a bigger picture it attracts many investors and developers that help to increase the “trend”. Regarding the future there is a reason why the top blockchain infrastructure such as Binance chain, Solana, Eos, Polka. and more provide numbers of accelerators and programs that focus only on companies best on Defi. At Poolz we aim to keep all the projects and technologies under fully decentralized world even when we spoke about Cross chain which by now have a big problem to use the Cross chain under decentralized and we are already halfway to find a solution the will help the ecosystem. Poolz cross-chain structure: Poolz aims to connect the 2 blockchains with a bridge to enable users to transfer tokens from one chain to the other. As the main goal of Poolz, this system will be full DeFi, but the first stages of Poolz server will be doing part of the verification. As the system will grow, we will be able to benefit miners to calculate the transaction and keep the stability. To make sure at any given moment the balance of the Lock Liquidity in chain A MUST be equal to the Total supply of the Tokens made by the factory for the Transaction. The Equilibrium will be the Trust of the system and the key from a fully DeFi system. In our case the Equilibrium=Synthetic tokens.
Q10 from Telegram user @lopyou01
Can
you tell us what are the main benefits of a $POOLZ holder? For
investment purposes, why do we have to invest in $POOLZ & what
benefits does $POOLZ give to holders?
Stan: In the tokens sales, you can be the first to invest, before the non POZ holders. In the NFT bids, you got the right to the last bid.
Part
3
– Quiz
Results
In the final part we tested your knowledge in terms of Poolz. They’ve prepared 4 questions for this part. The total reward pool for quiz was 600$.
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$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Vanilla Network Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Vanilla Network
For more details:
Vanilla Network – @Vanillafinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Part 1: 150$ /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: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. BOOMswap Team will select 10 questions and answer them.
Part 3: 700$ – A quiz about BOOMswap
For more details:
BOOMswap – @BOOMswap
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. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. noob.finance Team will select 10 questions and answer them.
Part 3: 500$ – A quiz about noob.finance
For more details:
noob.finance – @noobfinance
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. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Uniris Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Uniris
For more details:
Uniris – @uniris
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. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Sögur Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Sögur
For more details:
Sögur – @SogurSGR
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
On October 23 Satoshi Club had an AMA session with our friends from Vox Finance. Our guests were @cr4zi3st (lead blockchain engineer) and @walkeraki (software engineer).
The total reward pool was 1000$ and
was divided into three parts. In this AMA Recap we will try to summarize some
of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello, Satoshi Club! We are happy to
announce our AMA session with VOX Finance! welcome to Satoshi Club.
Walkeraki @ Vox Finance: Happy to be here!
Craziest @ Vox Finance: Hello everyone! Happy to be here
with you guys from Satoshi Club 🙂
D. | Satoshi Club: hello guys, kindly introduce yourselves
to us.
Walkeraki @ Vox Finance: Hey! I am Jure and I am software
engineer at Vox Finance. I was introduced into crypto world around 2015 with
small bitcoin investment and later on I had small mining farm. I am programmer
for my whole live and have been working in various well respected companies
across the Europe.
Craziest @ Vox Finance: A nice welcome from the team at VOX
Finance as well. My name is Luka and I’m the lead blockchain engineer at Vox
Finance. I have a background from economics and finance where I was active for
the last few years and I’ve been a crypto enthusiast since 2016 when I started
with a mining farm. After getting a lot of experience and getting involved in
programming and especially blockchain, we’ve decided to join our forces and
create our project – $VOX.
Mary | Satoshi Club: So, why Vox.finance?
Walkeraki @ Vox Finance: Our main token’s name is Vox and we have
governance token (later more about that) named Populi. Combined they form
“Vox Populi” which means – voice of the people. We believe name fits
our mission for this defi project. Token driven by the community for the
community. Latin word basically.
Craziest @ Vox Finance: So, to answer it briefly to the
audience. With VOX, we’re trying to redefine the yield-farming and DeFi
platform with a clean and professional approach to the topic. If you visit our
website, you’ll see what we mean. We’re not connected with any fruits,
vegetables or food in general. Of course, we’re not saying that the other
projects are not brilliant, we’re just trying to bring a wider audience into
the field. We’ve also created an interesting tokenomics structure as well as
governance model.
We want the community to become the
main focus of our project and that’s why we’re here today. We want everything –
yield farming, staking, lending and borrowing to be under one roof – the Vox
Finance ecosystem and where each user has the power to be a part of it. 🙂
Q1 from Telegram user @max_serbov
Around 70-80 VOX are minted per day. Isn’t too
much for your inflation? the token costs more than 700$ at the moment
Craziest @ Vox Finance: Sure, the tokens minted per day right now may
be high – but you need to remember it’s still a little amount. We’ve only had
an initial supply of 1250 tokens and we only raised 20 ETH in the presale. We
need to assure that our tokens can be distributed fairly between many users.
And we’ve already achieved that – just look at the top holders. We’re also
going to cut the emission rate by 45,0 % every two weeks starting 01.11.2020.
And don’t forget – there’s also the
2,0 % burn rate. So while we may have a high inflation right now – this will
change very quickly and will max out at 4250 tokens.
D. | Satoshi Club: And what will happen when all tokens be
minted?
Craziest @ Vox Finance: That’s our first experiment – the tokens will
never stop to be minted. We’ll just lower the mint rate periodically so low
until it will be at the same level as the burn rate. Yield-farming and staking
will be able to continue despite being maxed out at a certain supply – current
estimate is 4250 tokens in March 2020. If you’d like, we can share our in-depth
tokenomics article 👍🏼
It will ensure that our tokens remain
at a constant amount and therefore we will massively limit the inflation rate
after this first period. 🙂
Mary | Satoshi Club: But do you assume that there may be
some changes in tokenomics in agreement with the community later?
Craziest @ Vox Finance: Yes! That’s why we’re working on
getting our governance forum out until the end of this month. Our governance
token holders ($POPULI) will be able to vote, propose and stake their
governance tokens in exclusive staking pools that will pay out additional
rewards.
All you need to do is stake your VOX
on our platform. Any amount, any period.
Mary | Satoshi Club: And how can i receive POPULI token?
Craziest @ Vox Finance: You can receive $POPULI tokens by
depositing VOX into the staking pool on our platform. Until you withdraw them,
they will be available to stake, vote and participate in discussions on the
governance forum. When you want to withdraw your VOX tokens, you will need to
have POPULI tokens in your wallet, so that they can be burned. There is no minimum holding period,
no withdrawal fees.
D. | Satoshi Club: Any plans to create another token? in addition
to these two😉
Craziest @ Vox Finance: No, there will only be two tokens –
$VOX and $POPULI. We’ve already got more than enough work with these two. We’re
not looking to create anything else – our focus is on this project.
D. | Satoshi Club: Awesome! got it.
Mary | Satoshi Club: While we cannot prohibit people from
trading the tokens – if they do so they will be responsible if they cannot
redeem them anymore. There’s clear disclaimers on our website that warn the
users of the risk.
Q2 from Telegram user @HurricaneLad
Your initial supply is 1250 VOX, 500 VOX will
be sent to the seed investors… Why allocating almost 35% of your supply to
seed investors, don’t you think that will discourage adoption by newcomers and
at the end affect the price in long term (because many investors run away from
projects with many seed investors).
Craziest @ Vox Finance: We don’t think 20 ETH is a lot of
seed capital. And almost all our seed investors exited their positions already.
The 20 first addresses can be tracked. We’ve also needed to guarantee initial
liquidity in Uniswap – while not creating too many tokens. We needed to find a
good allocation for this.
Mary | Satoshi Club: Yes, they got very good profit 😀
Craziest @ Vox Finance: That’s why we’ve also made staking
available from the start – people are inclined to keep their tokens staked and
not be so focused on the price.
Mary | Satoshi Club: And, yes, 20ETH very modest. Did you
even expect such growth from the beginning? 😉
Craziest @ Vox Finance: Honestly, we didn’t expect such a
response. This is our first project in the DeFi sphere – we’ve done a lot of
blockchain programming before, but we want to continue building our project
organically. In a fair and transparent manner with the community.
Mary | Satoshi Club: It shows you are choosing the right
way.
Craziest @ Vox Finance: Our wish is to put the control of our
project in the hands of the community – while we’re not there yet, it is the
goal.
Q3 from Telegram user @tronsupporter
When you made the decision to make
the maximum supply of 4250 tokens, was it based on the assumption that it will
be a free marketing for you? What I want to say is: a low number of tokens, means
eventually that the price of 1 unit would be higher, thus attracting attention
to the project. When I see a token which costs 1000$ it is getting my attention
to see what is it about.
Craziest @ Vox Finance: Bigger price numbers do raise more
attention, yes – but it’s not the goal of the project. Whether the price is
high or low, we’re creating a scarce token which will have a lot of attributes
to it.
The goal was not 4250 tokens – we just
wanted to make sure the inflation rate is not too high and that investors at
all stages will not lose all of their capital.
Mary | Satoshi Club: But it worked like marketing.
Craziest @ Vox Finance: If that’s how the public sees it,
then so be it. In any case we think it’s not a bad feature of the project and
the token. It brings more value to it.
Mary | Satoshi Club: Guys, i know that you have roadmap
and it is finishing in the 1st quarter of 2021, if i am right) what’s the next?
Craziest @ Vox Finance: We’re going to look to extend with
new features that the DeFi sphere will create – I’m sure Uniswap and lending
& borrowing platform are not the final projects. We’ll listen to the community
– we’re capable programmers and we’ll work on the projects our community will
choose for us.
There will also be Layer 2 and Layer 3
implementations, cross blockchain liquidity and who knows what else.
Mary | Satoshi Club: So, next desicions you left for the
community. When they will start to vote? Or already voted?
Craziest @ Vox Finance: We will always be a part of the
integral team of the community – we’re just going to bring in a lot of
contributors that we’re sure are all specialists in their field to bring their
experience and ideas.
Voting starts in the first week of
October. Governance forum alpha version also comes out at the same time.
D. | Satoshi Club: What about NFTs are you planning to work with
that kinda stuff?
Craziest @ Vox Finance: Everyone is crazy about NFTs right now –
honestly, that’s not our (and also not my) focus. It’s an interesting idea but
we won’t be integrating it into the platform right now. At least not in the way
other yield-farming projects are doing it.
NFTs are more interesting when it
comes to lending & borrowing. Look at a project such as Centrifuge and what
they’re doing with it. It’s very interesting.
Q4 from Telegram user @CLOVER_JR
VOX, wants to provide high quality and cost
effective services, based on community participation, so what strategies are
you using to create and connect with a community that is truly interested in
your project?
Craziest @ Vox Finance: We’re creating local communities,
supporting contributors and we’re constantly active on our social channels.
We’re developing every day, describing each step. We’re also rewarding the most
active members and contributors with small rewards of VOX for their help – the
same will be true for our governance platform. Someone asked us for Coinbase
Wallet two days ago, today we’ll have it live by the evening. This is how we
work!
Mary | Satoshi Club: Btw, do you plan any bounty program?
D. | Satoshi Club: What should i do to get rewarded?
Craziest @ Vox Finance: To answer both your questions 😀
Bounty programs will be launched,
we’ll reward bug trackers, testers, developers, designers. Anyone who can
contribute to the project in a meaningful way.
You just need to join our channels and
we’ll accept your work and the community will decide as well. We have a contributor’s
page on our website which we will develop even more so we can have transparency
around our contribution system.
In your instructions on how to start
making money in paragraph 10 it says: “Open a champagne bottle and enjoy the
sweet, plentiful farming rewards!” This is the only paragraph written in the
language I understand. Just tell me how much can I earn by buying VOX tokens
for $ 1000? will my profit and champagne brand depend on your scheme?
Craziest @ Vox Finance: We wanted to make the last sentence a
little bit funny. In all seriousness, our staking ROI is currently at 1337 %
(no joke). Our liquidity pools are currently paying 3000 %. Don’t completely
trust these numbers however – you know they will change when more people come
into the pools. DYOR!
So you
should have 13.370 in one year if for some reason all the other factors stay
the same. Plus your
initial amount so there’s your bonus! 🙂
D. | Satoshi Club: Ok, and a little
question about security from me) smart contracts audit – do you plan it or it
is already done? I don’t want to lose my campaign. 😂
Craziest @ Vox Finance: We’re already in contact with
auditing firms. Hopefully we’ll have an answer to that question very quickly –
it’s our priority. But we would just like to point out that all contracts are
public and viewable. We’ve tested everything more than 5 times on the Ropsten
testnet and we’re programmers in our previous daily work. We know what we’re
doing and audits can also be misleading sometimes – but since we’re listening
to the community, it will be done quickly.
Q6 from Telegram
user @OlegDubinskiy
How the cost of the
VOX token affects the development of the project? What will happen to the
project if the token price is $ 10 and $ 1000?
Craziest @ Vox Finance: As mentioned before – we’re not
focused on the price. Of course we also want to get a salary for our work –
we’re devoting almost all our time and efforts. But the development will not
stop. We’ve got a lot of exciting things coming and we want to bring it to our
community as soon as possible.
We’re
transparent with our members and we don’t hide to any questions – we’re also
looking to disclose more information about ourselves if the people promise to
not come knocking on our door.
D. | Satoshi Club: You can do a podcast 😉
how about that idea?
Craziest @ Vox Finance: It is exactly our intention. We’re
currently thinking of creating regular Twitch streams for our community to tell
them what we’re doing and what’s in development.
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The
chat was open for 80 seconds; a lot of questions were posted by Satoshi Club
community. Our guests chose some of them.
Q1 from Telegram User @CryptoDurden
A lot of DEFI users use mobile
phones. Are you planning to release your own application on Android and IOS?
Are you considering partnering with the DEFI mobile aggregator Frontier?
Walkeraki @ Vox Finance: Great question! We think DeFi
products are currently lackluster on mobile platform. Somewhere in Q1 of 2021
we are planning to launch our mobile application where you will be able to buy,
stake, trade and learn all information needed related to VOX.
Q2 from Telegram User @K2ice
I can see that VOX is trying to give
power of shaping coin to smaller investors like me and I really hope this will
continue to be the case. My question is how can smaller investors like me help
in making the VOX community stronger? I really want to be a part of your
project.
Craziest @ Vox Finance: Hi Hakeem, great question! We’re
focused on small investors as well, correct! We’re going to make sure that no
matter your staking size, you’ll be able to share your vote and ideas on our
governance platform. We’ll use a special quadratic function with that that
we’ll tune to give the small investors a “relatively” small boost.
For now what
you can do is contribute. Share our project, come join us, help us to grow!
We’re creating many local communities and if you can also create something like
that, please tell us! We’d be more than interested to have you on our team. 🙂
Q3 from Telegram User @Nickkiii
What is the the principle of your governance
token $POPULI, and how can become users become a part of your governance model?
Walkeraki @ Vox Finance:
When you stake VOX
token you gain equal amount of POPULI token. So in ratio 1:1. With POPULI token
you will be able to participate in our forum where you will write prepositions,
vote on other ideas and comment if you find anything attractive or bad for VOX
project. So basically everyone staking
VOX will be part of our governance model.
Q4 from Telegram User @KelierTG
I think I’m asking the right people…
What do you think is the value of the community (and their opinion) within
projects like Vox Finance? Is it totally indispensable for the success in the
short, medium and long term? or are they only heard as initial marketing
strategies to invest in the newly launched project?
Craziest @ Vox Finance: Hi MataMostro! The value of the
community is our greatest value. Any project cannot succeed without a community
behind it! That’s why we’re constantly doing AMAs, asking our members to tell
us that they think. It’s not just a marketing trick and soon we will be able to
prove it to you with our governance platform. Every voice will be heard!
Q5 from Telegram User @Lady_luck2
When I make a transfer under a smart
contract, is 2% burned? Do I not lose 2% of my tokens when staking?
Craziest @ Vox Finance: Hi Jessica! All transfers between
addresses are generally cut by a 2,0 % burn rate, correct. However, our staking
pool (master address) is whitelisted in the token contract so that deposits and
withdrawals in the staking pool do not remove burn amounts. So you’re able to
stake/unstake whenever you want without losing your tokens!
Q6 from Telegram User @AugusS7
If decentralized finance (DeFi)
really seeks to achieve a totally independent financial system, then why create
a community that manipulates and manages the course of the projects? So, it
wouldn’t be totally independent right?
Walkeraki @ Vox Finance: We just want to deliver platform
where future and main decisions aren’t based on 2-3 people that are in charge
or have a lot of money but on ideas of majority – no matter how small of an
investment you made.
Q7 from Telegram User @Baby_Crypto
Vox Finance has a unique tokenomics
model. Will the 2% burning and mining of 75 tokens per day remain the same?
Craziest @ Vox Finance: The 2,0 % burn rate is structured to
say the same. However, the mint rate will be heavily impacted. Every two weeks
starting on 01.11.2020 we’ll be cutting the emission rate by 45,0 %. This will
continue all the way until the mint rate will be so low that it can stay the
same with the burn rate.
Q8 from Telegram User @apfelbbrot
Will you be using the private farming
pools for Populi holders as launchpads for new projects that align with the
vision of the Vox ecosystem and the sentiment of all Populi holders?
Craziest @ Vox Finance: Hi TOM! Great questions and already a
great preposition! Yes, our wish is to connect with growing projects such as
ourselves to distribute their tokens and their project between our community
and stakeholders! This way we’re helping the crypto sphere grow and we’re also
benefiting ourselves by the bigger community engagement!
Q9 from Telegram User @CryptoDurden
A lot of DEFI users use mobile
phones. Are you planning to release your own application on Android and IOS?
Are you considering partnering with the DEFI mobile aggregator Frontier?
Craziest @ Vox Finance: Hi Serg! We’re focusing heavily also
on providing mobile services. We’ve worked hard to make our website responsive
on mobile as well and we’re proud to say that the platform can be used via
mobile phones!
But this is
not the end of our focus into this topic. As our first goal in the year of 2021
we have the wish of creating a truly unified mobile application that will
combine all aspects of DeFi in one single, usable app. Yield-farming, staking,
governance, landing & borrowing. All within a few clicks on your phone!
Q10 from Telegram User @Maksyrn
I saw in the last
couple of days the price of the VOX token has normalized and stopped falling.
What is expected in the future?
Walkeraki @ Vox Finance: We don’t really focus that much on a
price itself. We have our roadmap and ideas that we want to implement into our
project. We think bringing quality product will increase the price of VOX but
our focus is on product itself rather than the price. I also believe that we
have a lot of potential to grow as a community as a platform and in the end the
price of VOX since we are at the very begging of this beautiful road.
Q11 from Telegram User @PaoloMonte87
In your tokenomics paper you wrote
that you might change the emission cut are o 35% or 25% depending on current
market conditions – can you please be more specific? What kind of factors might
influence your decision?
Walkeraki @ Vox Finance: Yes, we mentioned that the community
and development team together could make changes to the emission rate – why?
Because sooner or later the emission rate cuts will make the circulating supply
become lower and lower – and we don’t want the token to become deflationary –
we’ll need to carry out rebalancing to make sure it stays above the level of
the burn rate. That’s why we have this possibility.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about Vox Finance. A link to
a Quiz form were sent into the chat. Participants had 10 minutes to answer. 600$
were distributed between the winners. Please check the winners list here:
For more information and future AMAs, join our Social Media
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