Month: November 2020

We are pleased to announce our next AMA on November 6th 2020 at 02:00 PM UTC Time: Satoshi Club x Bot Ocean

⚠️Click to see the hour
⚠️Total Reward pool: $2000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Bot Ocean Telegram group

We will have the following structure:

Part 1: 300$ /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: 300$/15 users – Open chat for 100 seconds. You can post Max 3 questions. Bot Ocean Team will select 15 questions and answer them.

Part 3: 1400$ – A quiz about Bot Ocean

For more details:
Bot Ocean – @botocean
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

At this time we would like to tell you about the crypto project Sögur Currency. The AMA took place on 2 November.

Our guests were: @idnisa, @Keorian, @Rsrs99, @Obeeones .

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS.

Mary | Satoshi Club:
Hello, Satoshi Club! We are happy to announce our AMA session with Sögur! @idnisa @Keorian @Rsrs99 @Obeeones welcome to Satoshi Club😀

Keren Orian Nadel:
Hey 😊

Yair Hada:
Hey everyone, great to be here 🙂

Ron:
Hey All, Pleasure to be here.

Ido:
Hello Luis and the Satoshi club community, Great pleasure to be here! thank you for having us

Luis Merino 🇪🇸 | Satoshi Club:
Nice to e-meet you :))

Mary | Satoshi Club:
Happy to have you here😀

Luis Merino 🇪🇸 | Satoshi Club
Feel like at home ☺️ Seems Sögur has a huge team… :))

Ido, [02.11.20 15:01]
Thank you. I have a 5 years old who constantly asks hard questions – so I’m used to it 😁

Luis Merino 🇪🇸 | Satoshi Club
Can you please guys introduce yourself and tell us your role in Sögur?

Keren Orian Nadel
Hi, My name is Keren, and I’m Sögur, Managing Director. I have over 15 years’ worth of experience in strategy, product, marketing, operations, and P&L management. I’ve held global senior management positions in both corporate environments as well as startups. I hold a BA in Political Science and an MA in Public Policy.

Luis Merino 🇪🇸 | Satoshi Club:

Political Science, so great! Thank you guys for your introductions. Sögur has indeed a huge and experienced team. I’m sure you’ll have great answers to our community questions

Yair Hadar
I am Yair, Sögur’s Marketing Manager

Ido
My name is Ido Sadeh Man, I’m the founder and chairman of Sogur. I’ve spent the last decade leading product and technology organizations, including Odysii (sold to Gilbarco Veeder-Root, NYSE: FTV), and at Mobli where he was COO.

Ron:
My name is Ron Sabo and I am Sögur’s, Chief Scientist. My background is in Physics and I have PhD in experimental Quantum Mechanics. After a few years in the algo-trading market and I have joined Sögur three years ago.

Mary | Satoshi Club:
You all have amazing background guys👍

Keren Orian Nadel:
We’ll do our best

Luis Merino 🇪🇸 | Satoshi Club:
Btw, what’s Sögur?

Ido:
We will surely do our best 😃

Luis Merino 🇪🇸 | Satoshi Club:
(A brief explanation)

Ido:
Sogur is the plural of Saga in Norse. It is the name of the nordic mythologies – the foundational ethos of the Norse culture.

Luis Merino 🇪🇸 | Satoshi Club:
Sounds great 👏

Mary | Satoshi Club:
Nice name, as I know, you rebranded from Saga, right?)

Ido:
As we see in Cryptocurrencies an evolution of money and economy, rather than a revolution, we believe this name reflects our perspective.

Ido:
Right. We were Saga and because of trademark issues had to rebrand – so we moved from the singular to the plural 🙂

Luis Merino 🇪🇸 | Satoshi Club:
Great idea 🙂

Mary | Satoshi Club:
I see👍 I like your name)

Luis Merino 🇪🇸 | Satoshi Club:
Are you ready to start with part 1? 😉

Ido:
We were born ready. bring it on 😊

Mary | Satoshi Club:
Q1 from Telegram Username @Rebel99

Your Whitepaper says that $SGR is backed by a variable reserve similar to the IMF’s SDR. Can you explain what this means and how it works?

Ido:
The vision of Saga is to offer a Global complementary currency. one that can serve as a store of value and medium of exchange. To do so it was important to us to create a volatility taming mechanism – a stabilization mechanism. But not less important – we did not want to rely on a single currency to implement this mechanism. we don’t want SGR to be influenced by any single nation’s fiscal and monetary agenda And so we chose the SDR.

Ron:
SDR is a basket of the 5 most traded fiat currencies used by central banks to hedge against single currency volatility. It includes USD, Euro, CNY, JPY, and GBP.

Luis Merino 🇪🇸 | Satoshi Club:
Thanks! Great graph.

Mary | Satoshi Club:
One of the main advantages of Sögur is that its reserves are stored in the SDR, a basket of currencies created by the IMF. The financial crisis of 2008-2009 and the current “coronavirus” economic crisis forced many experts to focus on the shortcomings of the Jamaican system and think about possible ways to reform it. .Do they have promising ideas for the future?

Ido:
It was issued in 1969 by the IMF, as an instrument for central banks to hold their reserves

Mary | Satoshi Club:
Yes, you are right)

Ido:
just a week ago, the IMF has published an extraordinary document, preaching a new ‘Bretton Woods’ of sorts, with the SDR as its basis.

https://www.imf.org/external/pubs/ft/fandd/2019/12/future-of-the-IMF-special-drawing-right-SDR-Ocampo.htm

Luis Merino 🇪🇸 | Satoshi Club:
I’ll check it as soon as the AMA finishes ☺️

Ido, [02.11.20 15:14]
I think it is becoming clearer, with the instabilities of the international market, quantitative easing (printers going Brr) that diversification of the reserve currency of the world is becoming ever more important.

Mary | Satoshi Club:
Haven’t seen this doc, definitely need to read this. Could you tell us in some words about it?

Keren Orian Nadel:

https://www.imf.org/en/News/Articles/2020/10/15/sp101520-a-new-bretton-woods-moment

Ido:
We have built Saga in 2017 on that basis. Done

Mary | Satoshi Club: And yes, we really need diversification, you are right 😀

Ido:
It is a continuation of the effort to create a synthetic reserve currency, taking into consideration real-trade volume, and not being prone to single state influence.

Luis Merino 🇪🇸 | Satoshi Club:
And that’s where more payment methods appear, such as crypto 😆

Ido:
indeed, and I believe we are seeing just the beginning of this volatility in the FX rate S

Luis Merino 🇪🇸 | Satoshi Club:
Same thoughts here

Mary | Satoshi Club:
Thank you, we got a lot of food for our brains.

Luis Merino 🇪🇸 | Satoshi Club:
Many guests, many answers, many info 😆🤪 Anything to add? Or can we move to Q2?😀

Mary | Satoshi Club:
Q2 from Telegram Username @justgata

Sögur is characterized by working under non-profit principles, so in what way does the project generate and obtain economic benefits if all its income is used in its entirety to promote its objective? Do they own shares and how can you become part of the shareholders of the company?

When we founded Sögur (then Saga) it was apparent that in order to design and carry out a successful project we need to raise money and find a way to remunerate investors and stakeholders.

Ron:
However, it was also clear that this remuneration cannot be giving investors control over the company – as from the start, our vision was those currency holders should be the owners of the project.

To this end, we developed SGN. SGN is a token held by Sogur’s stakeholders – Investors such as Lightspeed, Mangrove, Vertex, and others, the team, advisors – etc.

SGN can be converted to SGR through the smart contract.

BUT: It converts into a variable ratio that depends solely on the market cap of SGR.

Luis Merino 🇪🇸 | Satoshi Club:
Btw, when did your rebrand occur?

Ron:
Currently, if SGN is sent to the contract, the sender will receive back 0 SGR. Only when the economy grows, then does SGN earn value, gradually, slowly.

Ido:
The rebrand took place this year, on October 8th, following a vote by all Saga holders to approve

Ron:
More details on SGN, including the full conversion model, can be viewed in our monetary model document – https://www.sogur.com/static/files/p/–4276ce95-657d-4e14-ae43-a4da72289291_Sogur%2BMonetary%2BModel.pdf

We are very proud of the checks and balances that SGN introduced in order to assure a fair launch.

Luis Merino 🇪🇸 | Satoshi Club:
Okay, thanks for the clarification

Mary | Satoshi Club:
Oh, got it. That’s the questions I wanted to ask you)

Ido:
So SGN remunerates Stakeholders. but that’s it. they do not control the project, and cannot draw dividends from it

More than that – the interests that the reserve is accumulating stays in reserve – translated into a price appreciation of SGR for its holders

I believe we have answered this one?

Luis Merino 🇪🇸 | Satoshi Club:
No questions for me

Mary | Satoshi Club:
My question was answered)

Luis Merino 🇪🇸 | Satoshi Club:
Let’s go with Q3 then

Ido:
Sure

Mary | Satoshi Club:
Q3 from Telegram Username @Jmagsss

Sogur’s main objective is to create a true global currency that no single entity has jurisdiction over it, meaning it’s decentralized, however, this concept may actually have a little centralized factor/aspect on it, how would Sogur ensure that the product you are serving is completely decentralized?

Ido:
I don’t think it will ever be fully decentralized. for 2 main reasons:

1. we are yet to find banks and institutions willing to open a reserve account in the name of a smart contract.

2. Full decentralization is denying the ability to utilize the expertise and urgent action.

Mary | Satoshi Club:
But did you find some?

Ido:
We have therefore chosen to decentralize whatever can be decentralized – Mainly – the control of supply of money. we cannot issue SGR. the only way to issue SDR is to send ETH to the smart contract

Luis Merino 🇪🇸 | Satoshi Club:
Hope you achieve that soon, a great milestone.

Ido:
Whatever we cannot decentralize we open for voting – so that the holders of SGR are the one determining the fate of the project

Mary | Satoshi Club:
Yes, I saw, some votings already ended)

Ido:
no, I think it will take time – this is why they have opened an account for the Sogur company instead.

Luis Merino 🇪🇸 | Satoshi Club:
Great

Ron:
This is all part of our governance model.

As part of the governance model, holders elect the Executive Council, the top management function responsible for promoting the currency’s success and for overseeing its functioning 24/7.

Luis Merino 🇪🇸 | Satoshi Club:
Governance is the way!

Ron:
In addition, holders also have on-chain veto power for any changes to the monetary model and hold other direct powers.

Luis Merino 🇪🇸 | Satoshi Club:
Not easy to change bankers’ minds… 😅

Ido;
We believe so too – therefore, SGR is not just a currency – it is a governance token as well.

Ron:
The governance model is implemented in a series of intermediary steps. Currently, we are in Phase 2 which includes the formation of the holders’ Assembly together with a dedicated voting system. The Assembly is responsible for electing, dismissing, and overseeing the Executive Council, as well as for aspects of reserve and liquidity management.

For more information see   https://www.sogur.com/governance

Mary | Satoshi Club:
Thank you for your answers 👍

Ido:
Just to conclude with an example: a week from now, the holders of SGR would have the ability to dissolve the board and management of the company and elect a new board

Mary | Satoshi Club:
It’s a big power for your holders👍

Ido:
literally, send me home 😢. and I’m very proud of it. If a currency is to be legitimate, it has to be accountable to the holders and not to whoever founded or invested in the early stage of the project.

Ido:
I hope to gain the holder’s confidence though 🙂

Mary | Satoshi Club:
I think with this mechanism it’s definitely possible 👍

Luis Merino 🇪🇸 | Satoshi Club:
You will! ☺️                                                                                                                                                                      

Mary | Satoshi Club:
Thank you for your answers 👍

Ido:
As it should – after all, it is the holder’s trust that gives value to currency, it is their money in reserve – the power should be theirs.

It is a pleasure to answer such in-depth questions.

Mary | Satoshi Club:
We have some more in this part 😉

Mary | Satoshi Club:
Ready?

Ido:
Sure

Luis Merino 🇪🇸 | Satoshi Club:
That’s the point. I think governance is extremely important for Sögur, allowing users to take important decisions

Mary | Satoshi Club:
Q4 from Telegram Username @Winterkom

Are there internal and external audits of the fiat money behind Sogur? Is it possible to access this information to generate confidence in the users?

Ron:
The banks that are holding the reserve are providing daily attestation of its size – allowing you to verify instead of trusting.

Ido:
There is a daily (business days) internal audit and an annual external audit.

However that’s not enough – Every business day, the banks that are holding Sogur’s reserve are publishing a Net-Asset-Value attestation – declaring how much money they hold on behalf of the reserve

These attestations are accessible on the Sogur web site – every business day.

Luis Merino 🇪🇸 | Satoshi Club:
Can you please share that link with us?

Ido:
This is the link above that @ObeeOnes shared

Keren will now share a deeper dive into the reserve management procedures.

This is to avoid anyone having to trust us in this regard

Yair Hadar:
Daily attestations of the reserve can be found here: https://www.sogur.com/performance/

Luis Merino 🇪🇸 | Satoshi Club:
Thank you!!

Keren Orian Nadel:
https://www.sogur.com/blog/blogPost/Xe84wBIAAB8AaStp/

Ido:
CNY holding is not offered by most banks, unfortunately.

Mary | Satoshi Club:
Got it😀

Ido:
we are now in the process of adding a bank that supports CNY

Luis Merino 🇪🇸 | Satoshi Club:
Hope you find one soon

Ido:
Meanwhile, we are covering by other currencies – and are supporting the spread risks with operational funds.

Mary | Satoshi Club:
Yes, risks are high now) sure, you will find a way)

Ido:
When the reserve grows, if we are still unable to hold CNY (or maybe the Chinese CDBC) – we will cover this portion of the SDR with Derivatives.

We refrain from using them now as they are expensive, but are ready to at any given time – if the risk becomes too high.

Mary | Satoshi Club:
Will it bring any changes to your mechanism? I haven’t seen Derivatives mentioned in your WP, but maybe I missed this part

Ido:
It will have to be voted upon by the holders. You are right. no derivatives in the WP and in the monetary model. because we want the reserve to be plane vanilla currencies. but, if we don’t find a way of actually holding CNY (which is unlikely) – we will have to settle by the near-best.

Mary | Satoshi Club:
Oh, understand, thanks👍

Ido:
I don’t think that in view of the political and monetary tensions between China and the US, we can afford not to maintain the SDR exposure to CNY

Mary | Satoshi Club:
I thought about this and I see that you also)))

Ido:
I believe we will probably be smarter tonight? or maybe not even 😅 tomorrow night rather

Mary | Satoshi Club:
I don’t know😂 let’s wait for the results)))

Thank you for clearing this question, can we proceed with the next?)

Keren Orian Nade:
Yep

Mary | Satoshi Club:
Q5 from Telegram Username @Manugotsuka

The Sögur cryptocurrency is a Stable growing currency, but isn’t a STABLECOIN right?, so considering the huge amount of confused persons, can you explain what are the differences between a stable growing coin and a Stablecoin?

Luis Merino 🇪🇸 | Satoshi Club:
Great question 🙂

Ido:
Indeed – Sogur only starts as a stable coin on the SDR, but implements a bonding curve – which means it deviates from being a stable curve – ACCORDING TO THE MARKET DECISION – The value of SGR is a function of the size of its economy.

Ron:
SGR can be described as a hybrid stablecoin and commodity, where all stakeholders can participate in its decentralized banking governance.

SGR is based on a bonding Curve – which means that the price of the token is algorithmically determined as a function of the size of the SGR economy and Community. It is therefore more predictable.

The supply of SGR is determined only by the market – when one sends ETH to the smart contract to buy SGR – SGR is created.

When one sends SGR back to the contract it is immediately burnt by the contract.

When the number of SGR is small, it is fully backed by collateral. As this number increases, reflecting the increase in Sogur’s economy – Some volatility is introduced, gradually.

Which means that:
When the economy grows the price of SGR increases and the collateral ratio goes down.
When the economy shrinks – the price decreases and the collateral level goes up again.

Keren Orian Nadel:
attaching 2 blogs that we’ve written to answer this specific question

https://www.sogur.com/blog/blogPost/XqFYhBEAACAAojhU/

Keren Orian Nadel, [02.11.20 15:52]
https://www.sogur.com/blog/blogPost/XnIuWhEAACAAiKlg/

Mary | Satoshi Club:
Does that person, who sends ETH has to pass KYC and AML procedure?

Ido:
This obviously goes both ways – should the economy shrink (more holders selling to the contract than buying) – the price of SGR will go back down until it meets back the price of 1SGR=1SDR

To interact directly with the contract – buy and sell directly from and to the smart contract – Yes, KYC is required. However:

Luis Merino 🇪🇸 | Satoshi Club:
I think this article gives a clear answer to the question

Ido:
SGR is listed on Bithumb, Liquid, Exmo, EtoroX – where only the exchange regular KYC is needed and recently a pair was created with DAI on Uniswap.

Luis Merino 🇪🇸 | Satoshi Club:
Are you planning to list in more exchanges?

Mary | Satoshi Club:
As I saw your mechanism provides such a scheme – the higher price – the fewer reserves you have, right?

Ido:
Not exactly – the reserve value in absolute always grows. the % of the SGR price covered by reserve decreases.

Mary | Satoshi Club:
Got it)

Ido:
Of course. 3 more are in the pipes for the very near future.

Luis Merino 🇪🇸 | Satoshi Club:
Can you reveal one of them? 🤭

Mary | Satoshi Club:
Can you give us a hint?)

Luis Merino 🇪🇸 | Satoshi Club:
Or maybe give some clues

Ido:
Not yet I’m afraid 🙈

Luis Merino 🇪🇸 | Satoshi Club:
Come on! You still have till the AMA ends to give us some hints. Maybe you can change your mind haha

Ido:
A strong Asia focus is all I can say.

Mary | Satoshi Club:
It’s some kind of a hint 😜

Thank you) and the last question from this part?)

Ido:
You might very well think that I couldn’t possibly comment

Luis Merino 🇪🇸 | Satoshi Club:
Let’s go with Q6 Ready for the last one?

Shoot it @madamlobster

Mary | Satoshi Club:
Q6 from Telegram user @nagy_szabo
The token is backed by 5 international fiat currencies. Have you done this to make a stable price? Why have you chosen centralized currencies for the decentralized world?

Ido:
We departed from the principle that currency is a quantifier of trust.

And therefore, we have chosen to anchor to whatever it that the world CURRENTLY trusts while implementing a protocol to migrate that trust over the growth of the currency – this is exactly what the Bonding Curve is about.

Mary | Satoshi Club:
Btw, have you ever think about, gold, for example?

Ido:
Not really. when one wants to stabilize, the essential question is against what?

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts have earned cryptocurrency.

Q-1 from telegram user @HeRmAwAnTrAdEr

Can you list any unique that Sogur has that your competitors don’t have? give the reasons why we have to choose your project and what are the benefits for us?

Ido:
Thanks for this question. SGR is a hybrid between a stablecoin and a free float currency. we believe this is a unique offering:

What are SGR’s unique features?
A bonding curve protocol exposes SGR holders to carefully modelled volatility – using stabilisation mechanisms to temper risk in fast-changing and unpredictable market conditions while creating an opportunity for sustainable intrinsic value growth.

A model where early adoption is incentivized as the ecosystem grows, thanks to the bonding curve model.

Ido:
SGR is backed by a reserve configured to match the IMF’s basket of currencies. Funds are kept in a variable reserve composed of world-leading fiat currencies held in reputable banks. The reserve ensures the contract will always able to redeem SGR by drawing funds from the reserve.

A democratic governance model built on the premise that the SGR project belongs to the currency holders, allowing holders to vote and partake in decision making as well as elect the leadership of Sögur.

A team of experienced entrepreneurs, financial professionals, technology experts, economists, and academic researchers, all working towards delivering a truly democratic, global, digital currency.

Q-2 from telegram user @Bethel8

Does holding SGN gives me power in your ecosystem?

Ido:
SGR is the Currency. SGN is the token that was issued for the early stakeholders and is not traded. So, unless you are one of the VCs who contributed funds for the implementation of Sogur, or bought SGN from one of them, you are not likely to hold SGN 🙂

Q-3 from telegram user @zaferce

How does Sögur apply the binding curve model and what role does this model play in determining the risk-reward ratio to achieve independent value growth?

Ido:
The price of SGR is determined by a bonding curve protocol:
The initial and current price is 1 SDR (currently 1.41)
If the economy grows – more buyers than sellers – the price set by the contract increases slowly.
If the economy shrinks – more sellers than buyers – the price will decrease up to a minimum price of 1 SDR. Having said that, indeed, SGN has a voting power equal to SGR – for voting purposes, 1SGN=1SGR, this again to ensure, that early backers and stakeholders do not control the economy.

Q-4 from telegram user @CElllIFE

Could the Sögur team help create a digital currency for the national bank?

Ido:

In the past 3 years, we have been in discussions with many central banks as well as global organizations such as the BIS and the IMF. Being that we are open source, our IP is ready for them to use. some of them are showing a growing interest. Sogur’s framework could also be utilized by regions wanting to create a regional trading currency, based on a basket of currencies from the region’s states. such a regional currency is discussed in many areas of the world: by states in Africa, the Middle East, and South-East Asia, and Sogur would be very happy to contribute its knowledge and FW to such endeavors.

Q-5 from telegram user @Alika061

Does #Sogur have any Points that can attract investors to join #Sogur? and where can we buy the $SGR token?

Ido:

SGR can be bought in the following ways:

1. directly from the Smart Contract.

2. Through Credit card via Simplex

3. Through wire transfers via our partners

4. In the following exchanges: Bithumb, Liquid, Exmo, EtoroX.

5. Via Celsius – where up to 15%APY can be earned.

6. Through Uniswap

As to the points regarding why to buy SGR now:  SGR is currently at the base of the bonding curve – which means it is 100% backed by the basket. whoever buys SGR now is fully downside protected, but can enjoy the appreciation followed by the growth in market cap.

The bonding curve model is an inherent incentive for early adopters.

Q-6 from telegram user @ngoccam

I received an announcement for swapping from SGA to SGR token, so why do we need to swap, is there any problem with the old SGA token?

Ido:

Swapping SGA tokens to SGR tokens is part of the rebranding process we’ve gone through from Saga to Sögur, nothing wrong with their tokens, they can be swapped 1:1 easily:

https://www.sogur.com/blog/blogPost/X1dTZBEAACMAW7PV/

Q-7 from telegram user @rockmorti

Democracy is considered by some to be the art of oppressing minorities. How does Sogur consider these aspects in its governance model to offer something fairer?

Ido:

I believe that this will answer you’re great question. We’ve put a lot of thought into this mechanism. https://www.sogur.com/blog/blogPost/XRs7BBEAACIAzbB6/ we call it Democonomy

Q-8 from telegram user @Juanquic

Why did you decide to abide by applicable UK laws and regulations? How do you carry out your fight against terrorist financing and money laundering?

Ido:

We chose to abide by a reputable jurisdiction such as the UK for several reasons:

1. The regulation is strict enough to keep our holders protected but forthcoming enough for the crypto project to operate with relative clarity.

2. It allows us to work with reputable banks.

3. As we are witnessing in the past months, more ‘traditional’ actors are entering the crypto playground. from institutional to payment networks. Being incorporated in the UK, adheres to the regulatory frameworks of such institutions.

As to Anti Money Laundering. Even before The 5th European AML directive, applying AML regulation to crypto projects in the EU and the UK, Sogur implemented its own AML policy – executed when onboarded on Sogur.com.

We did not have to change this policy when the AML regulation was introduced – we were already in full compliance with it.

Q-9 from telegram user @jpsarmah

Sogur has many contributors like Lightspeed, Vertex Ventures, Lool Ventures, etc. How have these contributors helped you and why did they trust you?

Ido: 

I love this question. Actually, lool answered this question, so I think their words will answer that perfectly https://medium.com/looltalk/saga-why-we-invested-1baa6e70c28c (Sogur, previously known as Saga)

I think that the fact that Sogur was though first, was in the works for 3 years, diligently crafting the model before addressing the public, was a great source of comfort to such investors.

Also, the fact that we were not afraid to declare what we DON’T KNOW – Which lead us to form an advisory of global leading economists such as Prof. Frenkel (ex. Governor of the bank of Israel and Chairman of JPM international) and Noble Winning Prof. Scholes.

Those great minds had only one task – to attack the monetary model and have us respond by fixing it.

I believe this was another source of comfort.

Lastly. We take our time. we prefer a slower, but more sustainable growth. we balance stability and volatility. We are here for the long run.

Q-10 from telegram user @wonderkit

What benefits do you get as an SGR holder?

Ido:

Sögur is designed to be a more mature global crypto token. It was developed by a multidisciplinary team together with a formidable group of world-class advisors. It balances stability with volatility It implements blockchain reliability were most effective It offers true global hedging It has a transparent and smart reassuring reserve It is owned by holders and managed by professionals It is built to incentivize early adoption.

After AMA session

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Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300 $ in crypto-currency was distributed between the crypto-quiz winners.

For more details:

English Telegram group: 

Russian Telegram group: 

Spanish Telegram group: 

Telegram Channel: 

Website: 

Twitter: 

Our Crypto Partner by this AMA:

Sögur Currency 

Telegram Sögur

Twitter official Sögur Currency

We are pleased to announce our next AMA on November 9th 2020 at 04:00 PM UTC Time: Satoshi Club x Sifchain

⚠️Click to see the hour
⚠️Total Reward pool: $800

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Sifchain Telegram group

We will have the following structure:

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 100 seconds. You can post Max 3 questions. Sifchain Team will select 10 questions and answer them.

Part 3: 500$ – A quiz about Sifchain

For more details:
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The future belongs to those who believe in the beauty of their dreams, Eleanor Roosevelt told. Satoshi Club and its guests always believe and follow dreams. So, future is ours. Today we would like to tell you about the AMA session with our friends from Sentivate. The AMA took place on November 02 and our guests were Thomas Marchi, Co-founder and Chief Executive Officer at Sentivate, Sentivate Mod, Official Sentivate Stuff and Prod and Value Whose from Value.

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

D. | Satoshi Club: hello Satoshi club!

Tom | Sentivate: Hello everybody I am Thomas Marchi, Co-Founder & Lead Developer of Sentivate.

D. | Satoshi Club: today we are welcoming our guests from Sentivate @WhoseForgotten @Prod_Value @SentivateMod @TomMarchi hello guys! welcome to Satoshi club!

Prod: Hello Satoshi Club!

Value Whose: Thank you for having us. Excited to be here today in Satoshi Club!

Mary | Satoshi Club: Hello again, Satoshiclubbers! We are happy to announce our AMA session with Sentivate ! @WhoseForgotten @Prod_Value
@SentivateMod @TomMarchi welcome to Satoshi Club:grinning:

D. | Satoshi Club: hello, hello guys! please introduce yourselves and tell us briefly about your project! :blush:

Tom | Sentivate: We over here at Sentivate have a very special Announcement to make. We have JUST launched three new pools in concurrence with today’s Satoshi Club AMA which can be viewed at: https://valuedefi.io/

The full details of the program can be viewed at: https://sentivate.medium.com/sentivate-partners-with-value-defi-a1ad87ac1e6f

I will let the Value team take over and talk about their project and products for now and comeback to Sentivate when they are finished 🙂

Mary | Satoshi Club: Wow, super:+1: can you tell us more about this pools?)

Tom | Sentivate: This link will lead directly to them: https://valueliquid.io/#/faas

Starting at November 2, 2020
Block Timer: https://etherscan.io/block/countdown/11178700
DAI <> SNTVT at a 2/98 Ratio
The DAI <> SNTVT 2/98 Pool will be dubbed the “SNTVT-Staking Pool.” For the protection of Liquidity Providers this pool will have a lock-up of 7 days. This pool will run initially for 32 weeks and distribute a total of 75,000,000 SNTVT Tokens.
10% of tokens staked during the stated period will be unlocked immediately for claiming. The other 90% tokens will be unlocked after 32 weeks, then unlocked linearly every block for 10 days.
USDC <>SNTVT at a 40/60 Ratio
The USDC <> SNTVT 40/60 Pool was chosen to give outside LPs an extra incentive to provide liquidity and to be a lower risk pool; less affected by impermanent loss. This pool will run initially for 16 weeks and distribute a total of 90,000,000 SNTVT Tokens.
10% of tokens staked during the stated period will be unlocked immediately for claiming. The other 90% tokens will be unlocked after 16 weeks, then unlocked linearly every block for 10 days.
wBTC <>SNTVT at a 50/50 Ratio
The wBTC <> SNTVT 50/50 pool will run initially for 16 weeks and distribute a total of 95,000,000 SNTVT Tokens.
10% of tokens staked during the stated period will be unlocked immediately for claiming. The other 90% tokens will be unlocked after 16 weeks, then unlocked linearly every block for 10 days.

Prod: Hi Satoshi Club, on behalf of Value DeFi thank you for allowing us to be a part of this AMA. For those unfamiliar with our fairly-new project, Value DeFi is a decentralized finance protocol whose mission is to make DeFi safe and accessible to everyone. We design every step with the intention of simplicity and peace of mind for our users.

For users unfamiliar with decentralised finance, DeFi is an unconventional method to banking and everything finance. An up-and-coming industry, fighting the corruption of the centralised banking world. Sadly, the current DeFi sector unfairly gives advantages to those with large amounts of capital and technical proficiency. Not to mention the countless projects that offer very different products, confusing any potential new user. At Value DeFi, we pride ourselves to be the first project to bring them all under one platform. Simply a “one-stop-shop” for everything DeFi. Our product line includes: Governance Vault, Value Vaults, our very own decentralised exchange – Value Liquid, and the product which has built this amazing partnership with the Sentivate Project, farms-as-a-service or FaaS.

Mary | Satoshi Club: Great, thank you) tell me what products do you have?

Prod: Value DeFi’s team is building such sophisticated contracts that becoming a new DeFi investor has become almost autonomous. Simply deposit your tokens into any of our cutting-edge products, and let our smart-contracts do all the work for you. Under our project, no matter how big or how small, generating profit on your capital has never been so safe and efficient. At Value DeFi your safety and profit are our top priority, and everyone is welcome.

Mary | Satoshi Club: Which one of the pools is more profitable?)

Value Whose: The pools are currently live and calculations for most profitable will be shown soon but WBTC/SNTVT pair does have the most rewards for those providing liquidity.

Mary | Satoshi Club: It’s interesting when we can mix technologies with profit)

Prod: This partnership is the genesis for an entirely new service. We are very proud and excited to share it with Sentivate.

Mary | Satoshi Club: Does this event have any timeframes?)

Value Whose: The pools for Sentivate will last a minimum of 8 weeks. And could go on for as long as 35 weeks!

Tom | Sentivate: Maybe even more 🙂

Mary | Satoshi Club: So, we will have a lot of time to join, earn and enjoy :+1:

Prod: And, from Sentivate’s announcement above, these pools are currently open for all users!

D. | Satoshi Club: nice! lots of time for liquid mining:blush:

Prod: Before we hand over the stage to our fantastic partners, we have prepared a detail summary for what this partnership is about

Now to discuss the product that has brought us here today, farms-as-a-service. FaaS is one of the latest innovative concepts to stem from the Value DeFi development team. We are very excited to be working with Sentivate as the first partnership on this new platform. FaaS will be the first of its kind, a liquidity mining contract designed to assist any project in safely distributing their tokens. To make this process as simplistic and safe as possible, currently in development is the FaaS Pool Creation UI. Soon any project will be able to utilise this interface to create their own unique liquidity pools. Projects will have the ability to control their desired pairs and ratios between the tokens, plus customize the exchange fees for any trading using those tokens.

Our plan for FaaS are very ambitious, so the UI will be available in 2 phases. The first phase of FaaS is for projects which have already succeeded in launching their tokens and want to use FaaS tech to bootstrap their liquidity mining to distribute their tokens, such as Sentivate. First phase is almost ready, live testing of the UI is currently undergoing. The second phase provides a complete customization package for projects who wish to create their yield farming token from scratch.

As our mission is user safety and accessibility, FaaS has an underlying key security feature for user assets. In conventional yield-farming, tokens are first required to be locked away to receive a Liquidity Pair Token. At Value DeFi, these are called VLP tokens. A Liquidity Pair Token is used to enter pools to start yield-farming. The security issue this imposes is that users essentially send away their assets to receive these tokens. Having no direct access or control over them. With Value DeFi’s FaaS, assets now stay directly into the pool being farmed, and the VLP ownership tokens stay entirely in the pool, attached to your Ethereum address. FaaS gives direct control back to its users, preventing any chance of their assets being stolen.

I hope the viewers enjoy a nice reading, after a few minutes my associate will announce our little treat for everyone reading.

Value Whose: In honor of this partnership, we have created this NFT to be given away during the AMA to 3 lucky members in Satoshi Club. Here is the talented artist from our Value community that has created this NFT for a partnership of the ages between Value and Sentivate. https://app.rarible.com/token/0xd07dc4262bcdbf85190c01c996b4c06a461d2430:69117:0x6e9222e61962edfc8393d751a8cb068388bbfa9f

D. | Satoshi Club: wow beautiful work!

Mary | Satoshi Club: Is Sentivate the first project you made such kind of partnership with?)

Prod: It definitely is, we are very privileged to start this platform off with such an amazing team like Sentivate. They are the first partnership, and certainly not the last.

Mary | Satoshi Club: Congratulations with such exciting beginning :+1::confetti_ball:

Value Whose: Thank you and with FaaS more safe liquidity mining pools will be open for any project who wishes to launch their own token distribution through FaaS. Complete customization with pool ratios, swap fees and unique deflationary tokens such as CORE.

Mary | Satoshi Club: Sure, i think you will have a lot of partnerships very soon)

Prod: I can tell the Sentivate team are itching to speak, so I’d like to thank everyone again for allowing us to be here today, and reading our technical summary, which basically turned into a novel. We will provide details to our NFT giveaway at the end. I’d like to present the Sentivate Team!

D. | Satoshi Club: projects needs some requirements to be launch through FaaS?

Value Whose: The FaaS creation UI will be available soon for any project wanting to use the service free of charge and no barrier for entry.

Mary | Satoshi Club: Thank you for being with us:+1: it was very informative and i think we will definitely meet with your project in the future) see you later)

Tom | Sentivate: The Sentivate Network is a hybrid network that incorporates both a centralized and decentralized approach to its architecture. This is because the project aims to merge both worlds’ best and achieve the best user experience, speed, reliability, and security. It’s important to note that Sentivate is composed of two networks with opposite topology one The Universal Web & the other Viat. They have opposite topological balances.
The problem is the current system was designed a long time ago. Since then, the World Wide Web has evolved into a global scale interconnected communication with ever-increasing demand and use-cases. Besides communication, the modern Web has enabled economic globalization, but the outdated protocols aren’t equipped to handle this ever-increasing demand.
This has created a bandwidth crisis that threatens to compromise net neutrality to resume business as usual. Sentivate Network wants to solve this issue by creating new protocols to revolutionize existing components.
You can read up on some of these specific issues over at: https://sentivate.com/information/sentivate-the-future-of-the-internet-eli5/
Originally we were designing Sentivate to be a solution for private government intranets or private Webs. After going through the web’s many faults and finding that many vulnerabilities were inherent, we slowly started to change direction. Eventually, we realized the scope of what we were building and what was actually being created. As we continued to research solutions for things like built-in congestion control for packets, cryptocurrency started to move into the mix. Decentralized aspects were initially part of the original design as it improved the availability of static assets and increased scalability and centralized services.

Mary | Satoshi Club: Can I say it will be something like WEB3?

Tom | Sentivate: Not exactly. We shy away from that term although it’s easy to use and it helps get some of the points across. However, we are in direct opposition to all current Web 3.0 platforms which are solely decentralized and blockchain based. More on that here https://sentivate.com/info/the-issues/the-decentralized-web-isnt-the-answer/ I got into detail regarding that view and the issues.

D. | Satoshi Club: so you guys want to reinvent internet? 😉

Tom | Sentivate: It would be more precise to say the Web as the Internet is more of the hard infrastructure that connects everything together. The Web is more of the software side. For those interested in looking at the difference between the two if you search for the difference between the Web and Internet you’ll find a great deal of technical and some simple articles that elaborate on this.

Here are some helpful links for this interested
https://www.geeksforgeeks.org/whats-difference-internet-web/#:~:text=The Internet is a global,on top of that infrastructure.

https://www.pageonepower.com/linkarati/difference-between-internet-world-wide-web

We find things very amusing when seeing projects that claim a new Internet but they really mean Web. However, we do have hardware related proposals but those are behind closed doors for now and are for much later down the road.

Mary | Satoshi Club: I know what i will read during this rainy days:+1:

D. | Satoshi Club: ohhh thank you! it will help me understand these things! 😊

Tom | Sentivate:

• 

Value Whose:

• 

currently the most profitable still (;

Q1 from Telegram user @nerddutch

The project has a revolutionary approach as opposed to an evolutionary one. Also, you require hardware modification to the existing internet. What modifications exactly? how much funds does this require?

Tom | Sentivate: Let me address the question itself first. In related to the Web there are only software related changes and those are our primary concerns right now. The software bits are the only thing that will be related to Sentivate.
We have proposed hardware additions for the Internet to make it safer and more effective at dealing with cyber related crimes none the less is a separate piece entirely and as noted above are behind closed doors. What I can say is they function in a similar way to black boxes and there are two types we are suggesting but that would be for discussions with NSPs and ISPs. It doesn’t play a role here and what we are concerned with now.

The question I think may be a bit confused with what we are doing and what we have as hardware proposals for the long term. We don’t require any new hardware to summarize.

Mary | Satoshi Club: And what are you concerned with now?

Tom | Sentivate: All the software bits. The Web is a very complicated place. There are many components that make the Web what it is today some are HTTP, DNS, TLS, Browsers, Javascript, CSS, HTML, Servers, Clients, and new additions such as cryptocurrency which we believe has become a new focal point for any new Web to emerge out of what we have now. There are many aspects to the Web that make it less intuitive, safe, private, and performant. Our focus is precisely on all the components that are causing these issues. Including adding additional components wether that be cryptocurrency, decentralized components, or blockchain all of which we have additions for.

Mary | Satoshi Club: Yes, you have a lot of work to do :+1:

D. | Satoshi Club: by the way as i see you are not so active on your github, you have 10 repositories there and most of them (8 of 10) were last time updated more than a year ago. why that? don’t need to improve anything there?

Tom | Sentivate: Yes, we don’t allow anyone to publish code to the GitHub besides our main account. We typically do large commits and follow by a few small patches. If you look at our actual code updates and commits you’d see it’s in the 10s of thousands of lines pushed at a single time. Rather than committing a bunch of small stuff it’s better in our case considering the scope of the project to push in large patches.

We have Utility libraries they don’t need changing or updating they are for doing things like looping through objects and such. Essentially things you’d do with just about every project and thus the code remains the same for it.

Q2 from Telegram user @crypto_zones

Your VIA swap has a deflation rate 1000:1. I tried to read more about this but didn’t understand. What does 1000:1 mean? Is it sustainable?

Tom | Sentivate: VIAT** & yes it means that for 1000 SNTVT you will receive 1 VIAT.

It just means for every 1000SNTVT that turns into 1 Viat. It’s essentially the same thing nothing changes besides the measurement. For example if you go to your doctor and he prescribes you 1000mg pill and then you go the next time and he writes one for 1 gram instead. Nothing changed just uses a different name and measurement.
This is primarily related to how we want to keep the Viat swap small and the release cycle super slow and as small as possible. While ensuring value in the decimal ranges.

Mary | Satoshi Club: Yes, that’s simple. For what reasons did you decide to do this swap?

Tom | Sentivate: The primary reason is of course to bring folks over to our native cryptocurrency Viat. Viat is deeply connected with the Universal Web and it’s important to have full flexibility there and doing that on any pre-existing network wouldn’t cut it. Although we have some ideas like how you could potentially mine Viat on ETH via a smart contract but that’s food for thought and a discussion if it becomes a desired method.
Since Viat is so deeply wired into the UW and example being packet Puzzles, identity certificates, and domain certificates we need ultimate flexibility and thus swapping to Viat is the only logical choice so that we aren’t tied into Ethereum.

Q3 from Telegram user @POSITIV8TY

What’s Sentivate economic model and how will its architecture ensure scarcity of the $SNTVT token and help to growth token price?

Tom | Sentivate: We have been very consistent on this note. When we are speaking about “price” we can’t answer in any capacity. Hence why we tend to restrict it even in our own community chats. There is a very gray legal line there and we won’t be crossing it any time soon.
With that said in the short-term in regards to technological value changes we are doing a soft launch of the Universal Web in December.
There after our focus shifts to Viat which will then shift SNTVT into Viat and for right now all SNTVT will be burned. The economic models behind Viat is essentially the network design when both the UW and Viat are put together.
That full picture is extremely complicated because it’s two separate networks with their own mechanisms and even self-sustaining model.

With that all said I suggest looking at the upcoming Viat white paper. The White paper will discuss many of the mechanisms like mining, artifacts, and districts which is unique to Viat, especially the last two.

The pools as mentioned prior are also a technological value add but not to be confused with price discussion.

D. | Satoshi Club: when we will see this white paper?

Tom | Sentivate: It’s set for early 2021 as the year of Viat is so far sat for 2021.

Mary | Satoshi Club: What do you mean by Soft Launch of Universal Web?

Tom | Sentivate: The first network out of the two is the Universal Web – this is our replacement for the World Wide Web and our main network. Think of the UW as the foundation. A soft launch is essentially training wheels and a learning period to figure things out that may come when out to the public. During this time the public and community can have things altered and changed quickly and we can test things out without much worry. Once the standard is set though it’ll become more difficult so this is a learning period for the network with fast modifications. A fail fast recover quick mindset similar to startups.

Mary | Satoshi Club: Everyone will be able to test it?)

Tom | Sentivate: Yes, technically everyone could test it now but this is when our core systems go up so they’ll be testing our core systems/components at that point.

Q4 from Telegram user @ion_cristescu

Sentivate has a hybrid topology which incorporates both centralized and decentralized topologies. What exactly is centralized and what is decentralized? Can the centralized part be a vulnerability?

Tom | Sentivate: On that note I’d be far more worried about a decentralized network being vulnerable than a centralized one in comparison. The topology isn’t relevant rather how you build it is. In our case we have a lot of checks and balances so this is much less of a concern for us. All computer systems have some sort of vulnerability that’s part of life but on that notion the Rust language from Mozilla is a step in the right direction. It finally addresses the many issues that plague software built by languages that don’t take security seriously.
We do have plans for Rust and from the software side it should make things very secure. I expect during the soft launch that we learn a lot regarding which parts of the network could use improvement and extra features we may want.

D. | Satoshi Club: could you elaborate on your hybrid topology?

Tom | Sentivate: Yes, so we have two networks the Universal Web (UW) and Viat. The UW is centralized focused with decentralized bits as back-up or to further enhance the network. This is very important because of the inherent design flaws of decentralized blockchain based Webs that will never be capable of competing with our current centralized WWW. It’s actually a rather simple physics/logic problem.
Viat is decentralized and blockchain based but the chain is more like a well organized tree similar to a DAG. Viat also has additional centralized systems that provide extra features like wallet security.

Mary | Satoshi Club: Which concerns do you have?

Tom | Sentivate: In regards to a decentralized network the primary concerns are the consensus and mining process. For centralized networks, simply put access.

Q5 from Telegram user @julioceazar

Nowadays, most people heard about ‘dApps’ are, but what is ‘hApps’ that you market on your website. What is the difference?

Tom | Sentivate: hApps was a very early term and we still use it but that would only be for apps which are hybrid apps. Meaning they offer both centralized and decentralized technologies in their app which can be configured in anyway the developer so chooses with some preference and option given to clients. Depending on what a dev goes with the difference could be vast or it could be small. However, the key difference is that hApps make use of both worlds and don’t shy away from either but it also doesn’t force you into a mindset or at worse an ideology.

We tend to use the term Universal Web Apps or UWA or UA more but we do still use hApp from time to time.

Mary | Satoshi Club: Can you give an example of hApp?

Tom | Sentivate: Yep, let’s say you have a website that shows wallpapers. When a user connects to your site it may force the user to instead use a Peer-2-Peer CDN in addition to it’s own servers.
This is an example where a rather simple app is using two different topologies to maximize the user experience. This is especially useful in cases where the central servers are being bogged down.

Q6 from Telegram user @leixagarcia

How will the search engines work in Sentivate? Any difference with the one we all know?

Tom | Sentivate: We are working on again a revolutionary change regarding search engines. Something that will save search engines and sites a lot of potential resources which can also work on the WWW. By first providing a standardized way for search engines to pull data from sites and then a standard format for sites. This is also tied into what is useful for our sight impaired users.
We would like a more public and decentralized version of search engines to take a foothold on the UW. The big guy lets call him Mr.Ggle we intend to work with if it were ever required but we want to ensure we give users the ability to get legit information without it being edited or removed.

Mary | Satoshi Club: Good buy Google?:joy:

Tom | Sentivate: Haha we expect them to still stick around but to what degree that only they would have a full idea of.

D. | Satoshi Club: what problems a new engine will be solve? can you give an example? if it’s not a secret ofc

Tom | Sentivate: The biggest one is the selective editing and removal of information. In the US we have seen the Gov have a sort of public hearing on that matter and I’d direct folks to that first in order to get an idea of how big of a problem this is becoming. It would be especially interesting if regulations come into play there.
I’ll avoid giving direct examples as there are some legal concerns there. This is in regards to the selective editing and or removal or information or links.

In regards to a technological concern here are a few. When crawling a site it would be best to instead return a MSGPack or JSON object that is an organized representation of the Web Page instead of all the HTML content. A sort of good faith measurement can take place after the fact if the web pages true content matches the data pulled via the standardized method we are implementing. This provides some quick decisions regarding the algorithm and site ranking.
Another point the ties in with the above is more of a plus by doing it our way. You end up saving a ton on resources for both your network and theirs and don’t require very complex software to decipher the web page.

In a nutshell it’s sort of a public transparent search engine for the UW.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @DiegoRME

How much is the minimum $SNTVT I need to have to be able to participate in your POOLS? How long does it take to claim recommendations and remove the POOL balance?

Value Whose: You need sntvt and the other pairing token to add liquidity and the exact ratios for that pool in the $ amount.

Tom | Sentivate: Check our Twitter post for more in-depth for this but essentially they actually have a decentralized “brain” to keep it short. They have computational units all over them and still a core one.

Prod: No minimum, as long as the ratio requirement is met. For example, the VALUE/SNTVT pool is 50/50. You can deposit any amount of tokens as long as the $dollar amount of both are 50/50.

Q2 from Telegram user @Maksyrn

Anyone unfamiliar with technology with Internet access will be able to use Sentivate?

Tom | Sentivate: Yes, as Sentivate is a Web+crypto. If you can use a Web browser you can use The Universal Web. If you can use cryptocurrency then you can use Viat.

Q3 from Telegram user @apocan99

Is your browser compatible with every technology currently needed on the web, such as Web3.0, JavaScript, Java, Flash, Frame/iFrame, etc.?

Tom | Sentivate: Yep although I highly suggest you don’t use Java or Flash on the Web ever again and suggest that you disable them from browser access. In regards to compatibility we are using Electron which is what Brave uses and countless others. We share the same base as Chrome which means it’s the same base as Edge, Opera, Brave, and others. With still a great deal of similarity with Webkit based browsers like Safari, any browser that uses Chrome tech is basically using all the work that was put into Webkit and then google forked and called it blink.

Q4 from Telegram user @BJosefina61

Why does Universal Web require a native token like SNTVT or VIAT? How are the two currencies different?

Tom | Sentivate: I’d point this to the founder of Twitter Jack as he put it bluntly. Which was that essentially cryptocurrency would bring about a new Web. Crypto has become a much needed part of the Web and is here to stay. The differences are vast our code base for Viat started with a white page and isn’t a fork of anything.

Q5 from Telegram user @NSQEA

I understand that the Faas plan will be executed in two phases, according to this phase one is about to start, in this sense, you have an estimated time of when the second phase will be ready?

Prod: Thanks for the question. Since Phase 2 is significantly more sophisticated, it will take a few weeks longer. We don’t like putting specific dates down in case of interruptions that halt development.
With this question I can announce to all my Value DeFi readers that the November Road-Map is being put together currently, also no-date for release, but will feature another round of amazing innovative concepts, notably our new vUSD Lending Platform concept.

Q6 from Telegram user @chelyabinsk_crypto

What kind of plans do you have with the expansion to the US, who has rather strict regulations towards crypto in general and especially towards privacy-related tokens?

Tom | Sentivate: Me, Matt, and Lew are based in the US. None the less we didn’t ICO etc and we have stayed within regulations best we could. We setup an entity in Wyoming as they have some crypto friendly movement there. I expect this to be the case for the coming years. The US will get more and more crypto friendly but first it’ll get a bit bumpy.

Q7 from Telegram user @surendra040

What are your motivations of the project? Do you have any story behind it ?

Tom | Sentivate: We were building an Intranet that we intended to be for private government buildings/installations for example say a DHS building that has a network which is only accessible inside. Over time we knew we had to expand the scope of the project to eliminate threats. We wanted a system that was made of components meant and designed to work with each other. There is a much more fun and interesting story behind that but maybe one better done over voice instead of text.

Q8 from Telegram user @NataliyaKil

Why is your roadmap only 21% complete in October? Are you having a disagreement on this in your community or are having difficulties with partners?

Sentivate Mod: Roadmaps are not updated dynamically but quarterly

Q9 from Telegram user @ngoccam

Talking about Liquidity Providers, there was some attacks in past, so how could Sentivate protect FaaS Pools on Value DeFi such as DAI | SNTVT; USDC | SNTVT, wBTC | SNTVT?

Value Whose: User’s funds still stay at the pool and their ownership tokens in our case VLP (similar to BPT or UNIv2) stay 100% at the pool. It is safer than normal yield farming projects where you stake these pool ownership tokens on a different platform. With Value and FaaS it is all done on a single platform in which you start earning rewards immediately as well.

Q10 from Telegram user @BeastIncarnate7

How do you plan to become “Universal “‘ ??

Tom | Sentivate: This is a great question. A lot of planning went into “How would a Web that was on a bunch of planets across the Universe have to work?”. This is played a huge role in deciding how components would work and the hybrid nature of the network. It even plaid a role in our custom UDP protocol design. As you know WE ARE THE ONLY WEB replacement initiative with our own custom built from the ground up reliable real-time UDP protocol built to replace HTTP for data transport. Something that is over used a lot is in crypto is the word protocol when in reality they mean more of network design or an API. HTTPS and QUIC are “real” protocols the rest are just using the term loosely maybe to sound cool.

Q11 from Telegram user @bitgraile

Any plans to integrate SNTVT as a built-in in computer devices or any partnerships with tech companies in the future?

Tom | Sentivate: We are indeed approaching a tech company and we spoke with them prior but knew the deal wouldn’t be in our favor so we built us up to that point instead. Now we know going to them will be a much better deal this time around. When we first spoke to them we didn’t even have a website.

Q12 from Telegram user @Gutike95

Could you really tell us a little more about the features of hApps? I understand that they are more beneficial than developing dApps or web applications and they are more robust, but what makes it up? and does it have any disadvantages? or is it just win-win?

Tom | Sentivate: It’s win-win in regards to capabilities and could be a win-win regarding security, reliability, availability, and performance if the Dev’s chose and design their app as such. Like all things it’s up to the wielder of the weapon to display graceful skill with their weapon of choice. You can only do so much before it turns into limitations and restrictions.
With that said I will summarize it
IMAGINE WALKING ACROSS A BRIDGE THAT BUILT ITSELF WITH EACH STEP YOU TOOK. This is how apps on the UW work they are streamed in real-time as they are used and you’ll only get the sections you need at that point in time.

Q13 from Telegram user @Jmagsss

Do you plan to create a mobile version of your web?

Tom | Sentivate: Yes, and we also intend to support ARM devices which means IoT, smart watches, iPads, and other mobile devices. It’ll be done with swift for iOS devices.

Q14 from Telegram user @apocan99

Do you have a reward system for the users of Universal Web Browser?

Tom | Sentivate: Yes, there will be new bounties coming out over the next few months.

Q15 from Telegram user @Maksyrn

Anyone unfamiliar with technology with Internet access will be able to use Sentivate?

Jordy: Anyone will be able to use the Universal Web to browse whether they are familiar with technology. If you are using the Universal Web browser you are essentially using the tech.

Q16 from Telegram user @BlancaSdF

Your technology is awesome! But sometimes these technological changes require new infrastructure and new hardware. Does this apply to Sentivate?

Jordy: The heart of our tech is software networking, no major need for “hardware” per say. In the case of the Universal Web there will dedicated centralized hardware but the tech can be implemented to already existing hardware/networks.

Q17 from Telegram user @Beterror203

🖐How does Sentivate intend to adapt the blockchain-based decentralized Web 3.0 approach to the Defi system to solve solutions to the problems encountered?

Tom | Sentivate: To be accurate here we are not a “solely decentralized blockchain based Web 3.0” Web. The UW is centralized focused with decentralized components while Viat is decentralize focused with centralized components for backup.
With that said the integration is very tight nit and it gets down to the packet level. I’d wait for Viat to comprehend the full interoperability between the two.

Q18 from Telegram user @Brainchest

What role of your token will be in life of Hybrid network is it will be like Google adwords

Jordy: VIAT will play a crucial role in the Universal Web as it will act as a token for congestion control.

Q19 from Telegram user @jerryziz91

Could you please give us some metrics regarding your Hybrid Browser – how many users do you currently have?

Jordy: We don’t have a count for current users as the browser is still in beta, the heart of our tech and development is our network and protocols.

Q20 from Telegram user @K2ice

What plans do you have for Rust?

Tom | Sentivate: We intend to finalize our “recommended performance & security version” using Rust. When it comes to performance and security Rust is without a doubt the best option. However, the Node modules will also make use of Rust in the future and convert much of the code base over to it so that it may be used as a native module in Node and still get all the performance and security benefits out of it.

Q21 from Telegram user @jerryziz91

Would you consider browser projects such as BAT and DEC as your competitors or how would you relate yourself to these projects?

Jordy: It is hard to say that they are direct competitors and no one in the space is pursuing the approach we are taking, building from the ground up. As a matter of fact those projects could actually implement our technology to their own.

Q22 from Telegram user @Arisabela

What is most important por Sentivate at this point? Digital marketing or getting to new partnerships?

Jordy: We believe the greatest benefit would be to continue expansion of our partners that can use, implement, and supplement our technology. Marketing is a constant effort, mainly depends at the stage of development and whether it is relevant at the specific time.

Q23 from Telegram user @BboyForteVZLA

Why did you decide to choose the Octopus as your project logo? Does it have something to do with sentivate?

Jordy: https://twitter.com/Sentivate/status/1223346825630892032

Q24 from Telegram user @Maksyrn

Has Sentivate always positioned itself as promoting DeFi since 2018?

Tom | Sentivate: Yes, it was prior actually. None the less we didn’t focus heavily on it at the time but we have things like a DECENTRALIZED ON-CHAIN EXCHANGE that would be essentially impossibly to take down unlike all other DEXs which use a domain and host front-end resources. Our on-chain DEX would be fully on-chain and couldn’t be taken down which means we have no control over it and users couldn’t be compromised so easily with say DNS or BGP attacks.

Q25 from Telegram user @surendra040

Does your project have threats and weakness?

Tom | Sentivate: We have less than both if properly utilized. It’s up to the user and the service to decide what combination and security measures you want to take. We simply provide you a framework to do it. Viat would be one of if not the most secure native cryptocurrency/network to date once at full operation.

Q26 from Telegram user @PaoloMonte87

What’s main competitive advantage of Value defi compared to its defi competitors in the crypto space

Value Whose:

• 

Multiple strategies in place for Vaults is a key innovation that we currently have in place compared to Harvest and YFI playing catch up. This tech is available and this week there will be many more Vaults supporting different assets as well as a stable coin vault.

Q27 from Telegram user @PaoloMonte87

What’s main competitive advantage of Value defi compared to its defi competitors in the crypto space

Prod: At Value DeFi, we have several products under the one project/token. So instead of having to inefficiently go into several tokens for specific products, we offer them all, in one user friendly and safe project. Let us do all the work for you!

Q28 from Telegram user @AugusS7

You want this hybrid website to achieve that “Both sides of the coin work together to maximize the potential of the Internet”, if you want this project to be totally efficient and compact, then why use two different currencies ($ SNTVT and $ VIAT)? do you need to use both?

Tom | Sentivate: There is only 1 SNTVT and when the swap comes there will again only be 1 being Viat. The SNTVT will be burned during the swap. SNTVT was the most logical path for building adoption and support for the project and then bringing over those users to Viat. Being a ERC-20 token has many major advantages the first being anyone could easily make use of it and don’t require that you install all new software a simple easy to use chrome plugin is all that’s required. When that support is at a max we can then swap everyone over to Viat and there would be an incentive and need to swap.
We are exploring having other tokens on other blockchains to help interface between the two but that is still in talks and yet to be decided upon.

Q29 from Telegram user @me6calito

How is ValueDefi different from Balancer and what advantages does FaaS give?

Value Whose: Chi gas integration can save over 50% on gas fees, the minute a user adds liquidity on a FaaS pool such as Sentivate they start earning rewards immediately. Compared to Balancer and other projects who use Balancer pools for liquidity mining, the user will have to leave Balancer and stake the pool ownership tokens on a different platform. FaaS is all in one place available for any project to natively distribute tokens through liquidity mining without leaving the platform and saving fees with Chi gas integration.

For more questions since we are limited time we welcome you to the telegram chat https://t.me/ValueDeFi and our discord server https://discord.gg/4QUBnC4H where we are more than happy to answer in more details!

Q30 from Telegram user @tolgaozek

I am living in a country where ICT government authority might block websites and make hard reaching websites through browsers. How will you deal regulators if needed?

Tom | Sentivate: The only regulator we intend on working with is the US Government. If they don’t block the site then it’ll be easily available via centralized DIS. If they do it may still be accessible via the decentralized DIS but it’s still possible to take down truly horrible content for example one that exploits human beings or is used for illegal gang or terrorist operations. However, we intend to only support the US Gov in filtering as they have a good track record over all and the legal landscape is much better when it comes to the sharing of information.

Q31 from Telegram user @Odino7

are there other pools available in the future?

Prod: Hi Odin, thanks for the question. We most definitely do have more pools coming to FaaS! Sentivate marked the beginning, opening the ‘flood gates’ into something very big. And the best part is that the FaaS platform allows for as many pools as we want! The more the better! More options and more rewards for our users.
I can confirm, that after the success of this partnership with Sentivate, we have many, many more lined up. Some of which are quite large and have massive influence and technological plans. We are very excited to work with all our potential partners.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Sentivate. They’ve prepared 4 questions for this part. The total reward pool for quiz was 700$.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Sentivate Community: https://t.me/sentivate

We are pleased to announce our next AMA on November 4th 2020 at 10:00 AM UTC Time: Satoshi Club x YFC

⚠️Click to see the hour
⚠️Total Reward pool: $600

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join YFC Telegram group

We will have the following structure:

Part 1: 100 /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 100/10 users – Open chat for 100 seconds. You can post Max 3 questions. YFC Team will select 10 questions and answer them.

Part 3: 400 – A quiz about YFC

For more details:
YFC – @yearnfc
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on November 3rd 2020 at 04:00 PM UTC Time: Satoshi Club x AURIC

⚠️Click to see the hour
⚠️Total Reward pool: $2000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join AURIC Telegram group

We will have the following structure:

Part 1: 300$ /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: 300$/15 users – Open chat for 100 seconds. You can post Max 5 questions. AURIC Team will select 15 questions and answer them.

Part 3: 1400$ – A quiz about AURIC

For more details:
AURIC – @auricfinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on November 5th 2020 at 12:00 PM UTC Time: Satoshi Club x Dopeswap

⚠️Click to see the hour
⚠️Total Reward pool: $1500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Dopeswap Telegram group

We will have the following structure:

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 100 seconds. You can post Max 3 questions. Dopeswap Team will select 15 questions and answer them.

Part 3: 1000$ – A quiz about Dopeswap

For more details:
Dopeswap – @DopeswapOfficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on November 4th 2020 at 03:00 PM UTC Time: Satoshi Club x Oasis

⚠️Click to see the hour
⚠️Total Reward pool: $900

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Oasis Telegram group

We will have the following structure:

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 100 seconds. You can post Max 5 questions. Oasis Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about Oasis

For more details:
Oasis – @oasisprotocolcommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish