Month: November 2020

Today we are glad to tell you about the AMA session with our friends from Tapmydata. The AMA took place on November 19 and our honorable guest was Gilbert Hill.

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.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Tapmydata! @Gilbert_Hill welcome to Satoshi Club 😀

Gilbert Hill: Hallo good to be here!

Mary | Satoshi Club: Please, introduce yourself and Tapmydata project.

Gilbert Hill: I’m based in Uk and ran a web agency for 10 years, where I got fascinated about how our data is used and monetized. I built a software company to do auto cookie scans and produce those banners everyone hates – sorry! That grew real fast and we sold to a US company which is now first privacy tech unicorn.

I wanted to do something which would help people get their share of all this money being made on the web, and use the blockchain.

Mary | Satoshi Club: Ahaha so, that were your banners.

Gilbert Hill: Yeah I keep seeing them 🙂 With Tapmydata, I knew we needed tools which are easy to use and plug in to the data which is out there, so we started with mobile, because that is the way we all interact now. So you can have your data in your pocket, and start to control and share that.

Q1 from Telegram user @parisienne_a

You are aiming to help people control and receive income by using their data. There are already projects which aim to do this like Brave browser and other platforms for ads and so on. What new are you bringing on the table and what experience your team has in this field?

Gilbert Hill: While projects like Brave and Swash have helped make people aware their data has value and this can be realised through crypto, they still work in the limits of the current AdTech system; I get paid for my attention, or for my browsing history to be sold to advertisers. We’re creating the building blocks for people to play a new role with their commercially-valuable data, where they’re in the driving seat. Rather than see ads for something I bought last week, I can let companies know I’m in the market now to buy a kettle, hardware wallet or an insurance policy. Advertisers can buy these consent artefacts at scale, incentivizing users with tokens.

We’ve got a background in AdTech ourselves so have the relationships to help them change, rather than just try to destroy it. This is also good for advertisers – no more buying fake attention from bots

Each user can manage their own digital identity, mint NFT’s of Blockchain Verified Consent and license this for use across the web, receiving value (ERC20 tokens) from organizations.

Mary | Satoshi Club: Ok, what is the exact steps I need to take to realize what you’re saying now? Do you have instructions how to use your app now?

Gilbert Hill: Yes! The first thing to do is download it, and start to add, verify your data. These are the things that help you get a better response from companies now…

D. | Satoshi Club: And people who use Tapmydata now, can they earn already some tokens?

Gilbert Hill: And are also the actions that help the community so are the ones you’ll receive tokens for.

Mary | Satoshi Club: I already earn 1😀

Gilbert Hill: Haha well done that is our stellar token, we use it to fuel the transactions, but it will be the new ERC20 after launch. SO keep using the app! Also the app is how people will pre-register for public sale using app. So it’s the first step of KYC.

D. | Satoshi Club: Very nice! when are you plan to launch a new token? and i assume people will swap current token to the new one, in which ratio?

Gilbert Hill: Now for the first time my window cleaner is asking me about data, and about crypto, so this helps get him on board. New token will launch during public sale, we will do 1:1 swap for stellar in app Q1 next year.

Q2 from Telegram Username @Rebel99

How is Tapmydata able to provide the data being requested by a user? Also, how are you certain that the person requesting the data is the owner of the said data in order to prevent one’s personal data from falling into the wrong hands?

Gilbert Hill: Great question! We make it easy for companies to provide data using our secure channel. It’s really important to verify person requesting data is who they say they are. So we encourage to verify their ID – then we use public key cryptography to create secure P2P channel between that person and the company, no-one else can get access, including Tapmydata.

Mary | Satoshi Club: Is this 100% guarantee or some minimal risks exist?

Gilbert Hill: Finally, we are building now an integration with a personal data store provider (DataSwift) so you can export your data securely off your phone. You still need to be careful of course, but it’s a lot safe than trusting a random marketing company to have your data! Or when a company asks you to send your passport, utility bills docs to info@… Now you can say, I use Tap for this and more companies are realising this protects them, too. So no, nothing in life is 100% 🙂

Q3 from Telegram Username @PaoloMonte87

Nowadays data represents a big concern. Many unscrupulous social media & advertising companies, often politically-tied, are learning and have learnt to a degree how to use that data to manipulate people for their own ends. Probably one of the creepiest scenarios is one where this information can be used at an almost non-detectable level by governments, for example, to emotionally influence our decision-making, therefore diverting significantly our opinions/choices/behaviors. I know I’ve brought up a big topic, but I wonder if TapMyData can a positive role in helping people overcome data manipulation? Are you also working on more ambitious and wider scopes to propose TapMyData to institutions and help avoid the weaponization of data I’ve evoked above? Can the blockchain be a potential solution?

Gilbert Hill: This is a big question, and so important – thanks! Data has been weaponized and used most recently in US election to confuse and deter voters from showing up. Both sides and their partners have used data scraped from platforms to give people info that they are ineligible to vote, or turn up at wrong place.

The current lawsuits are showing how trust has been lost in physical, postal voting – blockchain is a great solution and there’s nothing which stops it being used and Tap can be used in this context – I chatted with Matt Aaron on decrypt.io about this here https://podcasts.apple.com/us/podcast/oct-23-the-voting-dilemma-your-data-voting-on-the-blockchain/id1520762610?i=1000495862662

And yes beyond that, people are just sick of the creepy use of data in advertising – as a privacy expert, I’m always asked ‘is my phone listening to me? Phone manufacturers and platform say they don’t listen, because they have enough data points to know what we want, when we want it, but it’s still a creepy feeling and if our data is being used to deny us life opportunities, like a new job or access to a loan, then that gets really sinister. That’s what DeFi blew open, that you can get access to whole new areas of funding. And while not all of us has crypto to stake, we all have our data… We’re now linking up to the places where people can sell their data, like Ocean and Streamr.

Q4 from Telegram Username @Tony253210

Tapmydata helps the users to have control of their personal data, enabling the users to tokenize it. But the cheater or dishonest users always appear, so How do you prevent that an user can pretend to be someone else? In few words How do you prevent the multi-accounts creation?

Gilbert Hill: We already since the early days of the project had people trying to game the system and have developed steps to stop multi account creation, and auto-monitor suspicious activity, but you understand I can’t go into more detail here!

D. | Satoshi Club: Got it! confidential information. 😉

Gilbert Hill: Yes, you never know who is listening – especially when new token sale is happening!

Q5 from Telegram Username @Jonahapagu

Tap implements end to end encryption for requested data and you stated that by default you can also decrypt this data for unregistered organizations but you claim your never do this How can we trust you on this why don’t you disable the ability for you to decrypt this request data are there cases where you will have to decrypt this request data if yes does this not make you a part of the problem you are trying to solve… (Unverified Consent)

Gilbert Hill: The data dialogue takes place between the 2 counterparties, the user (or data subject) and the organization (the Data controller) and they hold the public and private keys. We have no access to the keys and the data is effectively useless to any third party, including ourselves. We don’t want to add to the big problem which exists, so built the whole system to privacy by design principles with input from Dr Ann Cavoukian.

D. | Satoshi Club: Good remark about keys, i think it would build more trust. 👍

Gilbert Hill: This means it took about 40-50% extra planning and dev up front, but is a model for low or zero- data use business models which other projects, Dapps can follow.

Q6 from Telegram Username @yzmoney

“The Tapmydata solution is a framework of tools, ledger and decentralized protocol for people to reclaim their digital identity, crystallize unique, verified elements of consent in an NFT and provide a new, transparent channel for legitimate counterparties to blend data and exchange value.” since Tapmydata is using NFT as identity token, will these NFT be transferable or can they only be minted on the phone and non-transferrable? The app uses facial recognition for onboarding, does it support other biometric feature like fingerprint, voice etc.

Gilbert Hill: Our NFT will be transferable to other marketplaces, to allow your data to be monetised, but it’s always tied to your encrypted identity on the ‘phone. We already support voice recognition and will be expanding to other biometrics next year.

We’ve got a lot of academic and business interest in the protocol and our application of Blockchain Verified Consent.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram User @tuvalunia

I am still not clear about your earning model for users. Can you elaborate on this please?

Gilbert Hill: The app awards TAP tokens for activity which benefits the community, like sharing data or verifying credentials. You can then use these tokens (or buy more) to mint your own Blockchain Verified Consent artefacts. Companies buy these with the ERC20 tokens directly and can use them for marketing, or to purchase our own services.

Data sets from users verified credentials can also be placed on decentralized marketplaces like Ocean and Streamr. We will provide the interface to do this via the app initially, then with the web interface you can manage and license consent to sites which you engage with.

Q2 from Telegram User @BeastSanmao

What is your Short term Goal? And when whitepaper will be published?

Gilbert Hill: TAP token is our currency within the TAP protocol, you earn it and use it to verify and mint NFT tokens enabling you to licence your data. Here is a link to our token distribution https://tapmydata.com/tap-token and we will be publishing further details of our token economics within the next couple of days.

Q3 from Telegram User @zaferce

What will be the short-term and long-term advantages of holding the TAP token for investors, and how important will the TAP token be to your ecosystem?

Gilbert Hill: The TAP token is a utility token – it’s value exists in our protocol, so the value of it short or long term depends on how you wish to use it within our protocol – pay for minting of an NFT, or an independent verification of your data from a licensed third party.

Q4 from Telegram User @BeastSanmao

What is your Short term Goal? And when whitepaper will be published?

Gilbert Hill: Our short and long term goals and white paper info are gathered here: https://docs.tapmydata.com/

Q5 from Telegram User @melanintrish

How can I find out if my personal data has been involved in a data breach?

Gilbert Hill: We have integrated Tapmydata with the HaveIBeenPowned API so if you enter your email, it checks it against known breaches every time you launch the app https://tapmydata.com/new-release-have-i-been-pwned-feature-lets-you-find-out-if-your-email-has-been-compromised/

Q6 from Telegram User @Mohitku1

When Public sale will be available? And from where we can buy token?

Gilbert Hill: Public sale is 14th December – if you download the app you’ll be ready and we’ll keep you informed on our telegram community.

Q7 from Telegram User @Mohitku1

Through whom Tokens in the public sale will be distributed? Kyc is required to be eligible for distribution?

Gilbert Hill: We’re using Balancer for the public sale and the KYC will be required and handled though our app https://balancer.finance/

Q8 from Telegram User @LLeeKuanYew

I find Tapmydata’s vision, solution and mission to be amazing. But that is in theory, and in fact is a different story. For Tapmydata to be as realistic as you say it needs a strong, experienced team. So can you recommend your team (Founders, R&D, Developers, etc…)?

Gilbert Hill: Tap’s team is our strongest asset! We span out of a blockchain agency which built MVPs for projects back in 2017 and this is our first project where we created new IP. For me personally, this is the natural evolution of the journey which started with cookie banners…

We operate on an Agile basis so can react super quickly to new developments and opportunities in a space which changes daily.

Q9 from Telegram User @Shuvo39

Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to $Your platform and keep them long term?

Gilbert Hill: Partnerships are key – we already have rights groups, academics and public bodies interested in our data and building out corporate relationships will be key in 2021.

Q10 from Telegram User @chunhocxitrum

What is data portability?

Gilbert Hill: It is the right in GPDR to get your data from one party and seamlessly transfer to another. Our mission is to make that frictionless.

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Tapmydata. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 400$ were distributed between the winners.

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

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

Tapmydata: https://t.me/tapmydataofficial

We are pleased to announce our next AMA on November 28th 2020 at 12:00 PM UTC Time: Satoshi Club x BarterTrade

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join BarterTrade 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. BarterTrade Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about BarterTrade

For more details:
BarterTrade – @BarterTradeofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

PART 1. Introduction of BuySell DeFi project and community questions.

Hello, Satoshi clubbers and guests of this site. Glade introduces to you the BuySell DeFi project. The one-stop platform to manage and control your DeFi portfolio.  Within the ecosystem, you can interact with the advanced DeFi products and services. This enables you to do more by simply holding the BSE Token. The AMA took place on 23 November.

The plan of AMA session:

1.  Part – Introduction and preselected questions.
2. Part – Live questions
3.  The Quiz about Buy-Sell project

The reward pool is 1300$.

Leading the AMA our clever and fun admins:

@madamlobster and @GoldRocket27

The Representative of the project: 

Manaforth | Buy-Sell.io – @manaforth

Z Z | Buy-Sell- @zurume

Introduction of a crypto project.

Mary | Satoshi Club:

Hello, Satoshi Club! We are happy to announce our AMA session with  Buy-Sell! welcome @manaforth @zurume to Satoshi Club😀

Gold Rocket | Satoshi Club:

Good evening Satoshi clubbers! We are starting today’s AMA with Buy-Sell. Our guests today are  @manaforth & @zurume. Welcome to Satoshi Club.

Z Z | Buy-Sell:

Thank you.

Mary | Satoshi Club:

Happy to see you here😀

Gold Rocket | Satoshi Club:

Thanks for joining us.

Z Z | Buy-Sell:

I’m glad to be here

Mary | Satoshi Club:

So, we can start?😀 Can you please introduce yourself and tell us more about the Buy-Sell project?😀

Z Z | Buy-Sell:

I’m Zurume, I am the co-founder of Buy-Sell. I’m a blockchain and crypto enthusiast for a long time, trader and analyst. Powerful team members such as manaforth, bamanga_1, that cut across different regions and different fields have come together to present and add more value to the blockchain and DeFi ecosystem.

Gold Rocket | Satoshi Club:

Sounds good!

Serg | Satoshi Club:

Welcome to Satoshi Club

Z Z | Buy-Sell:

Buy-Sell is a DeFi and non-custodial ecosystem that brings services such as aggregated decentralized and synthetic asset swap, governance, staking, farming, lending, borrowing auction, NFT, through a BSE membership mechanism.

BSE is the utility token for the ecosystem whereby BSE holders earn 75% of the fees we charge, while the remaining 25% is used to buyback BSE and burn which automatically increases value by increasing demand. With 3 unique types of staking, BSE holders earn daily or monthly BSE and other assets reward depending on the staking type joined.

DeFi aggregator swap enables people to instantly swap all major erc20 tokens at a very cheap rate from best and competing price and very low gas fee.

Pool staking enables people to earn up to 7% from staking and Unstaking fee, and also share from daily BSE distribution from the 20% of total supply allocated to staking, also, fees earned from exchanges and borrowing are distributed to all pool stackers.

Asset staking simply enables people to permanently stake their BSE and earn UNI up to 300% yield. and this has been working perfectly fine for over a month with interest up 11% weekly

Governance will enable everyone to make proposals and vote on projects and events on Buy-Sell and share from the BSE allocated for this. To participate in this, users need to own BSE.

For NFT’s and Auction, utilizes xBSE, which the farming just got launched about 24 hours ago and it has a powerful yield.

Mary | Satoshi Club:

Congrats on the successful launch👏

Gold Rocket | Satoshi Club:

Congratulations👍

Z Z | Buy-Sell:

Thank you…😊

Mary | Satoshi Club:

Thank you for the intro, you create a powerful ecosystem 👍 and I think we can talk about it in detail while you will answer our community questions 😉 Ready to answer them?🚀

Z Z | Buy-Sell:

Sure, we will do our best to do that…😊

Preselected questions

Gold Rocket | Satoshi Club:

Q1 from Telegram user @balabas4bounty

I have read that you distribute a certain % of the fees to the holders of the BSE token on your pool. Please give us more details about the % and how much shall we stake to be eligible.

Z Z | Buy-Sell:

First of all, this goes to all Pool stackers.

We have allocated 20% of the total supply to staking and this is locked and released on a monthly basis which gets distributed to pool stackers.

— Also, when someone uses our exchange, fees charged are distributed to pool stackers,

— and also other numerous activities.

The minimum stake is 100 BSE and which anyone can purchase BSE directly from our DApp or from Uniswap.

Mary | Satoshi Club:

Can you tell us how many staking pools do you currently have?😀

Z Z | Buy-Sell:

3 days of accumulated pooled staking will be distributed today. I think is a wonderful opportunity for everyone to buy BSE, stake, and take part in this distribution today.

There is what we called “Pooled staking” that’s strictly for staking BSE and getting rewarded from what I mentioned above.

Then we currently have xBSE farming that has 3 pool. BSE-ETH, xBSE-ETH, BSE-xBSE with over 10,000 APY. this is massive, as xBSE will be using a bidding power in our auction that is launching soon.

Mary | Satoshi Club:

Sure 👍

Gold Rocket | Satoshi Club:

Yes! Good chance!

Mary | Satoshi Club:

A lot of opportunities 😀

Z Z | Buy-Sell:

Yes.

Mary | Satoshi Club:

Do you plan to add more pools or you think it’s enough?😀

Z Z | Buy-Sell:

For now, we have just planned for these 3 pools, and give people the opportunity to farm CBSE and get ready for the powerful auction we are launching which utilizes the xBSE.

Mary | Satoshi Club:

Got it👍 to thank you) ready to jump to the second question?

Z Z | Buy-Sell:

Yes.

Gold Rocket | Satoshi Club:

Q2 from Telegram user @mag_crypto

BuySell is an All-in-1 blockchain ecosystem that includes non-custodial exchange, DeFi exchange, staking. There are plenty of exchanges that are doing this. So, besides the cool name, why else would I want to use your services?

Z Z | Buy-Sell:

As we offer 2 unique exchange categories,

1. is specifically for other cryptocurrencies (non-custodial)
2. is for aggregated swaps for erc20 tokens.

So we make sure people get unique and reduced fees, security, and fees we collect are redistributed to BSE pool stackers, and lower gas fee.

Mary | Satoshi Club:

Do aggregated swaps for erc20 already work?

Z Z | Buy-Sell:

Not yet, but our devs are rounding that up. Lots of works surrounding us.😊

Mary | Satoshi Club:

Yes, I see😀 when do you plan it to go live? And can you explain how these swaps will work? Does it mean that I will be able to exchange any erc20 token to another using it?

Z Z | Buy-Sell:

Yes, sure, it searches best rate prices from totle, Uniswap, 0X, Falconswap ad more.

Should be up within a few weeks, Next month.

Mary | Satoshi Club:

Amazing, so we will wait for its launch👏 Ready to go forward to the next question?

Z Z | Buy-Sell:

Yes, sure

Gold Rocket | Satoshi Club:

Q3 from Telegram user @george_benderos

It’s very cool that I can manage all my assets from an ERC address, but I for example have several addresses that I use. Is it (or will it be in the future) possible to connect multiple addresses as well and to have a unified view of all assets from multiple addresses?

Z Z | Buy-Sell:

Yes, of course, we have the feature coming up, if you check our roadmap, we have similar things coming in the future.

Mary | Satoshi Club:

This will be after the erc20 tokens swap launch? Or at the same time?

Z Z | Buy-Sell:

After erc20 swap. After most of our major updates and services, because the hub will incorporate everything we have we usually use zerion to site example.

Mary | Satoshi Club:

Yes, I like zerion😀 got it. Thanks, ready for the fourth question?)

Z Z | Buy-Sell:

HaHaHa… Yeah

Gold Rocket | Satoshi Club:

Q4 from Telegram user @lissabeth

In the staking dashboard section of your platform, there is a timer with the text “time to the next reward”. Can you tell us what reward does this timer refers to and how big are they?

Z Z | Buy-Sell:

Sure, proceed. This timer is in both pool and asset staking. Is the timer that indicates when the next reward will be distributed.

The reward depends on so many factors;

1. when there are stake and unstake, a total of 7% is distributed proportionately to those in the pool
2. Also, the staking allocations and fees distributed are also other factors.

So the system checks what comes in based on the activities, and redistributes it to everyone when the timer ends the next day.

Mary | Satoshi Club:

Btw, can we claim rewards anytime or at the end of staking?

Z Z | Buy-Sell:

It can be claimed anytime.

Mary | Satoshi Club:

If they are not claimed are they adding automatically to the staking pool?

Z Z | Buy-Sell:

It will be there until the user claimed it to his or her wallet.

Mary | Satoshi Club:

Thanks,😀 ready for the next question?

Z Z | Buy-Sell:

For pooled staking, there is a “Sell Stake” button, for asset staking, there is a “Withdraw button”

Mary | Satoshi Club:

Ah, understand 😀 as usually, you need to try first to understand how it works😀

Z Z | Buy-Sell:

Yes, you are right…😊

Mary | Satoshi Club:

I like to try everything new) ready to jump to the next question?)

Z Z | Buy-Sell:

yes

Gold Rocket | Satoshi Club:

Q5 from Telegram user @occupyingmars

What would be the utility of the token besides staking it in the pool and getting a fraction from the exchange fees? would there be any governance as well?

Z Z | Buy-Sell:

It will be used in the governance, holders of BSE will be able to vote on projects and make proposals, and at the end, there will be a BSE reward distribution.

Mary | Satoshi Club:

And we will have the second live part soon😀 Which kind of proposals they will be able to make?

Z Z | Buy-Sell:

It will be related to Buy-Sell development and service suggestions and updates, all will be surrounded by Buy-Sell dApp.

Mary | Satoshi Club:

So, if, for example, a BSE holder will vote/make some proposal he will be rewarded with BSE? For both – voting and proposals?

Z Z | Buy-Sell:

Yes, according to what is allocated.

Mary | Satoshi Club:

Nice, so, hold and participation in governance will be profitable 😀

Z Z | Buy-Sell:

Excellent

Mary | Satoshi Club:

Ready for the 6th question from this part? Also, we will have 6 more questions which will be answered in the article after this AMA session 😀

Z Z | Buy-Sell:

Yes.

Gold Rocket | Satoshi Club:

Q6 from Telegram user @fabricino

I tried to locate your whitepaper to take a closer look at the tokenomics, but couldn’t find it. Can you tell us when do you plan to launch the whitepaper? And if you’re not planning to, please explain why, because this is not something that I see often. Thank you.

Mary | Satoshi Club:

And we will have the second live part soon😀

Z Z | Buy-Sell:

Of course, we will release the whitepaper soon, we wanted to capture exactly what we are building and their modalities. As for tokenomics, we have a medium article where it’s been outlined.

Gold Rocket | Satoshi Club:

Can you share a link to this article for our community?

Z Z | Buy-Sell:

Ok, can’t let me share the link.

Mary | Satoshi Club:

Sorry

Z Z | Buy-Sell:

https://buysell-network.medium.com/the-tokenomics-a444dbde1919

That’s the link for tokenomics.

Gold Rocket | Satoshi Club:

You can also share useful links for our community before opening the chat, Thanks!👍

Mary | Satoshi Club:

Ok, thanks. Can you tell us when the approximately White paper will be launched?

Z Z | Buy-Sell:

https://buy-sell.io/

Mary | Satoshi Club:

Yes, I like your site, sure, when all features will be launched it will be ideal 👍😀 And now it also looks great, good job😀

Z Z | Buy-Sell:

Thank you. What we have coming soon will be huge for every BSE holders. Thanks a lot.

Mary | Satoshi Club:

Yes, they should be happy people. And, btw, where we can get BSE tokens now? Uniswap and your swap exchange?

Z Z | Buy-Sell:

Yes Uniswap, and also within Buy-Sell dApp under swap BSE

Mary | Satoshi Club:

Thank you👍

Gold Rocket | Satoshi Club:

So, what is the difference between the token xBSE and BSE?

Z Z | Buy-Sell:

Xbse is token your farm by providing LP which will be USD for bidding in the auction and NFT trade

Mary | Satoshi Club:

NFTs, sweet hot topic😂

Z Z | Buy-Sell:

https://app.uniswap.org/#/swap?inputCurrency=0xa30189d8255322a2f8b2a77906b000aeb005570c&outputCurrency=ETH this is Uniswap Link

Gold Rocket | Satoshi Club:

Thanks! And that’s all in the first part. the chat will now be open. and you will have to choose 15 questions and answer them.

Mary | Satoshi Club:

You caught all tendencies 😀

Z Z | Buy-Sell:

Yes, will come after we launch the auction.

Mary | Satoshi Club:

Patiently waiting for it😀 And are you ready now for the live questions from our community?

Z Z | Buy-Sell:

Sure.

Mary | Satoshi Club:

Let’s go 🚀

PART 2.Questions about BuySell project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 100 seconds. Then the guests from the crypto project choose the top 15 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @eeaq15

Do you have partners like LIQUIDITY DIVIDENDS PROTOCOL, DEX TOOLS, TOTLE, O TRANSAK, do you have any other project in mind as a partner in the future?

Manaforth | Buy-Sell.io:

Yes, we have a partnership with the above-mentioned and also be adding more partners like simplex, go block, and more.

Q – 2 from a telegram user  @melanintrish

What are the economic incentives for been an active holder of BSE Token?

Manaforth | Buy-Sell.io:

For the active holders of BSEtoken, if it’s been staked on liquidity pool, you will share from the daily BSE distribution, also from fees we charge from our services and distribute to holders.

Q – 3 from a telegram user @Beterror203

Can I make a compound balance with this staking system without having to withdraw the token daily?

Manaforth | Buy-Sell.io:

No, we don’t have a compound yet. Any reward you get, you simply withdraw.

Q – 4 from a telegram user @KelierTG

When will the Buy-Sell mobile application be officially launched? Are you all set? What’s next for us?

Manaforth | Buy-Sell.io:

According to our roadmap, that will be early next year.

Q – 5 from a telegram user @araceley

Buy-Sell introduces the Pooled, Classic, and Assets stakings, can you tell us the difference between these three and which one offers more rewards?

Manaforth | Buy-Sell.io:

Pool staking enables you to earn when someone stakes and stakes and also from the fees we charge

Asset staking enables you to permanently stake your BSE and earn UNI tokens up to 300 APY.

Q – 6 from a telegram user @A5loveZ3

Can you tell us what in #Classic_Staking how its work in Buy_Sell_Network?

Manaforth | Buy-Sell.io:

This actually means to stake BSE and farm xBSE which we already discussed so you can provide LP for 3 pairs BSE-ETH, XBSE-BSE, xBSE-ETH and farm xBSE

Q – 7 from a telegram user  @notulu

What is your next step? Listing on other exchanges or other activities?

Manaforth | Buy-Sell.io:

Listing on other exchanges is on the way as we have started the process.

Q – 8 from a telegram user @AmirJosh

Swap BSE is already operational. What other tokens we can swap? Or Is it only BSE token for now?

Manaforth | Buy-Sell.io:

For now, is the only BSE, others will be added soon.

Q – 9 from a telegram user  @ontortk

The high gas fee is a great problem. Did you guys found any solution for this as you built on the Ethereum blockchain? Or do you have a plan to move on to another blockchain?

Manaforth | Buy-Sell.io:

With Gaston. This makes low gas fee very possible.

Q – 10 from a telegram user  @leixagarcia

Will Buy-Sell transactions be available through the TRON network (TRC 20)?

Manaforth | Buy-Sell.io:

For now, no. As we continue to progress, we will see if this is going to happen. Definitely, we will make an announcement about it.

Q – 11 from a telegram user  @Rebel99

According to your Medium post, one of the perks of trading through the buy-sell exchange is that you instantly get back $BSE upon trade completion. Where does this $BSE come from and is there a limit to the amount of $BSE that one can claim?

Manaforth | Buy-Sell.io: 

The fees we charge are used to buy back BSEand distributes this BSEto pooled stakers.

Q – 12 from a telegram user @Jonahapagu

I see that your decision-making process and Community Governance will be done through “Govblocks”…Govblocks is quite new to me… can you explain how your governance process through “Govblocks” will work..and why you decided to use the Govblocks platform for Your Governance.

Manaforth | Buy-Sell.io:

Govblock is really a wonderful platform to integrate with, as it provides everything we need in DAO.

Q – 13 from a telegram user @BERTA2020

What is the % that I can receive when entering your staking system? The % I can get can vary by the amount of your BSE tokens or does it have a fixed %?

Manaforth | Buy-Sell.io:

It varies base on the no. Of BSE you hold. For asset staking is up to 300% yield.

Q – 14 from a telegram user @yosoyelimar

Are you planning to enable new services for Buy-Sell in the future?

Manaforth | Buy-Sell.io:

Yes, if you visit our roadmap, you will see the wonderful features we have coming soon.

Q – 15 from a telegram user @KelierTG

During your explanation of how Buy Sell DeFi Exchange works you mentioned that “Is connected to top decentralized exchanges and synthetic asset providers” This means that it works through intermediaries? How does this affect commissions?

Manaforth | Buy-Sell.io:

There are fees when using intermediaries, whatever we charge as fees go to pool stackers.

Part 3 – Quiz about InvestroFund DeFi project

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. 900$ was distributed between the winners.

Questions and Right answers:

1. Which one of this does not utilize BSE token

A. Staking
B. Exchange
C. Lend and Borrow
D. Auction
*Correct answer D

2. Which one of these is not part of Buy-Sell products and services?

A. Staking
B. Exchange
C. Gaming
D. Lend and Borrowing
*Correct answer C

3. What is the total supply of BSE?

A. 300,000
B. 100,000
C. 10,000,000
D. 10,000
*Correct answer B

4. What are the nain core utility of xBSE
A. Auction and NFT
B. Auction and Staking
C. NFT and Lending
D. Exchange and Lending
*Correct answer is A.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: BuySell

Telegram  |  Tweeter  |  Website  |  Medium  |  Network Stacking  |  🎲 Uptrend  |  Traders group  |  Reddit

Trias, strategically partnered with NUTS Finance

Recently, Trias has reached a strategic cooperation with NUTS Finance, the acBTC product development team. NUTS Finance will implement a secure and scalable blockchain financial infrastructure project based on Trias TEE. As a strategic partner of NUTS Finance, Trias will provide NUTS Finance with the security of trusted applications and the flexibility of consensus network structure.

In the process of building a blockchain financial project, data privacy is the most concerned issue for enterprises and users. TEE based on Trias trusted technology is an independent execution environment, which can ensure the security and consistency of financial data and programs. Through the establishment of a trusted environment, the security of the data and model of NUTS Finance project in the communication and calculation process is ensured, and the whole process monitoring and control is carried out to prevent the third party from attacking.

Through the privacy computing technology of Trias, it can protect NUTS Finance data from leakage, and solve the problem of mutual distrust among the participants in the network, so as to better protect the financial data security. In the process of financial data encryption, the sensitive data related to identity is removed, and the corresponding relationship between data and source is cut off to achieve better security.

NUTS Finance is a decentralized development organization composed of technology and financial geeks, focusing on the development of infrastructure projects of blockchain finance. Its productacBTC is a set of protocols designed for native BTC and ERC-20 BTC, including swap, lending and interest generation applications, with the design goal of security, high efficiency and ease of use.

acBTC is a group of protocols, not just a protocol. Around the asset of BTC, a set of protocols is used to solve the heterogeneous problem of BTC after cross chain. Specifically, there are swap, interest generation and lending, which are planned to be gradually launched through a period of development and liquidity reserves. In conclusion, acBTC is a single asset multi protocol, and its goal is to solve all problems after BTC cross chain.

acBTC is an asset basket, which can contain BTCs of various formats. This basket supports the exchange of BTCs of different formats. acBTC itself is a stable asset, with a minimum of 1:1 anchoring the native BTC. This makes it easy to enter into the defi agreement, such as lending.

The best scenario of BTC in Ethereum and other chains is as collateral. acBTC is not responsible for mapping, but is responsible for the cost and ease of use after mapping.

acBTC plans to establish multiple DeFi protocols, so that all kinds of ERC-20 BTCs can get rid of the current constraints, freely flow in a variety of DeFi protocols, enhance the liquidity, and play and capture more value in the DeFi.

November is almost over, but our Amarathon continues. And today we would like to tell you about the AMA session with our friends from HPB Global. The AMA took place on November 25 and our guest was Xiaoming Wang, Founder and CEO of HPB Blockchain.

The total reward pool was $500 $HPB and has been splitted in 2 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 High Performance Blockchain! @lvxing welcome to Satoshi Club

D. | Satoshi Club: hello again Satoshi club! @lvxing hello and welcome! 😊

Mary | Satoshi Club: @lvxing welcome here 😀

Xiaoming Wang: Hi everyone, this is Bob (Founder and CEO of HPB Blockchain). Glad to be here and have a fireside chat with the Satoshi Club community. Thanks Satoshi Club for the invitation to have this AMA.

D. | Satoshi Club: good to have you here!

Mary | Satoshi Club: And thank you for coming today 😀

D. | Satoshi Club: Can you tell us more about your role and your vision for HPB?

Xiaoming Wang: I am the HPB Founder and CEO. I myself was a tech geek in the early Ethereum community, so I acted as a technical evangelist at HPB’s early stage, and now my role is shifting to HPB’s strategic plans. Currently, there are some on-going projects on HPB MainNet, although encountering some progress delays, I believe we will see some killer applications built on HPB blockchain.
Regarding the vision of HPB, it’s still the same. We are dedicated to building a high performance blockchain accelerated by hardware for ultimate scalability and security. To build a prosperous ecosystem; hardware acceleration is the carrier. Together with confidential computing, it enables privacy sensitivity and computing values for broad commercial uses.

Mary | Satoshi Club: Nice

D. | Satoshi Club: impressive! thank you for intro! Now we will jump straight into the 10 best questions from Satoshi Club members

Q1 from Telegram user @Legrosbatard

I saw on the monthly report you work on an anonymous payment module. Is it compatible with China regulations and UnionPay partnership ? Could you tell me more about this feature?

Xiaoming Wang: Anonymous payment is a tentative project initiated by HPB to enable HPB to support private payments. The current account system used by HPB does not have privacy. That is, the payment amount of HPB is transparent and the payment path can be traced.

This new initiative aims to combine contract status privacy and zero-knowledge proof so that HPB can be paid privately. The general technical route is as follows: HPB is first converted to the token Hcash in the confidential contract, and then Hcash is used as the carrier of private payment, combined with zero-knowledge and mapping for state transfer, and then hcash is converted to HPB. At present, the project has been under development. For more details, we will publish more documentations on this project, please stay tuned with our official social media.

Currently, this project has nothing to do with the UnionPay Smart partnership. But based on the previous agreement, if this project has mature outcomes and applications, UnionPay Smart has priority to use it.

Mary | Satoshi Club: Thank you for this complex answer

D. | Satoshi Club: thank you for answer! im a big fan of anonymous coins and tokens

Q2 from Telegram user @konditer_rolex

On your website, you presented scenarios for using your blockchain. But as I understand it, these are just examples of what could be. Do you have examples of the implementation of your blockchain already implemented?

Xiaoming Wang: HPB is a technologically innovative public blockchain, and the blockchain has a strong community with open source geeks. HPB Foundation is dedicated to developing high performance blockchain infrastructure for blockchain innovations, and we are open to innovative blockchain projects deploying on HPB MainNet to build a prosperous HPB ecosystem together. Moreover, we provide bounty rewards for development contributions. Developers can make development proposals or claim development tasks on gotoken.io.

HPB already supports the following infrastructure and DApps:
1. HPB official：
HPB Wallets (hot and cold)；HPB Scan (block explorer)；in-wallet staking, pledge, voting, and rewards supported by smart contracts, etc.
2.HPB community initiatives：
Online interface for use with Ledger/Trezor: https://myhpbwallet.com/
HPB Raffle Game in Telegram channel @hpbprice
Blockchain explorer & DEX under Alpha testing now

Mary | Satoshi Club: I really like HPB infrastructure, thank you:

Q3 from Telegram user @PaoloMonte87

In one recent interview, one of your HPB partners (Jason HU) reportedly admitted that one of the main issues that the blockchain world as a whole is facing is related to consensus algorithm issues. Also, many public chains have already experienced security breaches.
To address the security issues HPB already responds by adding another layer of security with the BOE hardware, which adds up on top of the “software” ledger component of the blockchain and embeds itself an hardware RNG (random number generator), therefore greatly increasing security.
At the same time, we’re also hearing more and more the word “quantum computing” from news and media alike and – while quantum computers don’t exist yet – it’s general consensus that existing cryptography would be potentially vulnerable to it. Is HPB’s software + hardware already designed to face this issue? Or maybe you’re treating this as a concern that can be postponed, given the mainstream technological means currently available?

Xiaoming Wang: Like most blockchain systems, currently HPB Blockchain does not have the ability to fully resist the attacks of quantum computers. Technically, blockchain technology still can’t resist this systematic problem of quantum attacks.
Right now, our focus is still on HPB Blockchain and its ecosystem development. We may start some study on quantum computing later and will update the community accordingly.

Mary | Satoshi Club: Sure, great times ahead and with current progress we will see even more innovative things in the future

Q4 from Telegram user @AmirJosh

The HPB MainNet is running and stable for 2 years now with high security. The HPB Partner Jason Hu said in one of your AMA;
“HPB’s MainNet is a parallel world of Ethereum, with the same virtual machines, smart contracts, and account system; but HPB transactions are faster and cheaper; and the code has been audited by KnownSec.”
With this statement, it looks like HPB is ahead of Ethereum when it comes to efficiency and cost, but why can’t your platform gather more attention and support from the community? Is there marketing plans prepared by HPB to address this.

Xiaoming Wang: 1. First of all, HPB and ETH isn’t a competitive relationship, but a cooperative relationship; the two parties have their own technical advantages, and have complementary needs for technology and business.

2. Before the emergence of DeFi and NFT, there was less demand for low gas fee and TPS, and these current problems have restricted the ecosystem development of DeFi and NFT on ETH; and HPB blockchain is complementary to Ethereum for better scalability, which can lower blockchain projects’ innovation cost.

3. We always bear in mind that we are a blockchain technology driven project, and our marketing plans should always support the R&D. Over-marketing or over-exaggeration will bring adverse effects to the project, but as a part of the project operations, we will continue our marketing campaign to improve the awareness of HPB in the industry and build HPB’s leadership in hardware acceleration blockchain. So, more and more developers will come and build on HPB MainNet.

DeFi.Fund, a new investment initiative, has announced support for the development of the DeFi ecosystem on HPB. Also, DEX and NFT projects initiated from the HPB community are also developing to a tight schedule now. We believe that more and more developers will be attracted to the HPB MainNet with the growing awareness of HPB blockchain’s strengths.

4. At the same time, we are upgrading the virtual machine of the HPB mainnet to support the latest virtual machine of ETH, which is scheduled to be released on 15 Dec 2020 with our next version of the MainNet. Moreover, we are also actively moving forward our research work on cross-chain technology. This will allow projects on Ethereum to migrate to HPB MainNet smoothly and seamlessly. We believe we will see an unimpeded exchange of assets, data, and users across chains in the future.

Thanks for the question, we can move to the next one.

D. | Satoshi Club: thanks a lot for such a detailed answer!

Q5 from Telegram user @brodzonl

On twitter one of HPB team members sent this message to Vitalik on twitter.
Hello, Vitalik. Faced with the rapidly developing DeFi project on ETH, and the current high gas costs and transaction congestion problems.
Do you consider cooperating with HPB to help solve these problems on ETH?
How HPB can help Ethereum to make gas fees cost lower than now and help in transactions problem Ethereum blockchain currently has? (Asked by Jake Micheal

Xiaoming Wang: The scalability problem and high gas fee with transaction congestion hinders the development of Ethereum. As for HPB, it is a high-performance blockchain accelerated by hardware. Our BOE (Blockchain Offload Engine) is unique and innovative in the blockchain industry. With a TPS of 5000, the gas fee on HPB MainNet is comparatively low.

Concerning your question, at the start of our technical design of HPB, we made HPB support Ethereum’s system for user accounts, virtual machine and smart contracts, which provides a high performance on-chain scalability solution (hardware accelerated). Meanwhile, our team is also exploring secure and stable cross-chain solutions, so HPB and ETH ERC-20 assets can exchange freely and trustlessly.

By doing this, HPB can help ETH Devs by giving them access to a parallel public chain that looks familiar in set up (supports ETH VM, similar smart contract template to ETH), but can cater for high on-chain transaction volume services for which Ethereum is not yet ready.

About the gas fee solution, the overall gas consumption is greatly reduced on HPB MainNet. You may wonder that by simply reducing the gas fee, could it make the system vulnerable and bring more attacks. Of course, we have considered this beforehand and have worked on this to make our system more robust. For example, by adding the low-gas replacement function of txpool, HPB MainNet is more secure in resisting DDOS attacks.

Mary | Satoshi Club: Yes, Ethereum gas fee solution is really actual now, it’s very important that you pay attention to this things

D. | Satoshi Club: it would be interesting to see how HPB and ETH can be work together. thank you!

Q6 from Telegram user @Idee01

Defi has continued to dominate the trend while yield farming is pulling a huge traffic but lack of security and privacy protection may hinder its development. How does High Performance Blockchain plan to provide Defi with reliable security and privacy protection, paving the way for entry of institutional investors?

Xiaoming Wang: The HPB team is putting a lot of efforts in researching confidential smart contracts. Confidential smart contracts can ensure privacy protection when the contract is executed correctly. More specifically, a confidential smart contract guarantees input privacy, execution privacy, and output correctness. Actually, DeFi itself is driven by smart contracts, and we believe that HPB’s confidential smart contract can provide DeFi services with more security and privacy protection.

Mary | Satoshi Club: Crypto definitely needs more security and privacy protection! Thank you

Q7 from Telegram user @Brainchest

What is the main goal of creating HPB blockchain? I think the importance of such development is too overestimated. Creating your own hardware, creating your own software. All to create a unique random number? Is it really so important or am I wrong and the HPB blockchain solves more serious problems?

Xiaoming Wang: The starting point of HPB was to use the advantages of hardware to accelerate the blockchain performance. To date, we have been working on: (1) Using hardware random numbers to make the consensus algorithm of the blockchain more secure; (2) Using hardware to accelerate transaction verification, thereby increasing the TPS of the blockchain; (3) using hardware to accelerate the zero-knowledge verification process (researching and exploring).

D. | Satoshi Club: thank you! HPB can improve lots of things in crypto

Q8 from Telegram user @Pratze

I’ve read from the HPB whitepaper that you have a partnership with UnionPay, but there is a rumour that HPB partnership with UnionPay is already over, which one is true? Can you please give an explanation?

Xiaoming Wang: HPB and UnionPay Smart established a formal collaboration very early, and completed the first phase of technical research and development cooperation towards the end of 2019, providing UPS with a user authorization / deposit authorization system. UPS has paid for
the work we have done for them. Because of the non-disclosure agreement signed with UnionPay Smart, it is currently impossible to publicly disclose more specific information, but we could show you the Agreement in person if any community member visits our office.

Due to the regulatory environment changes, launching it on the public blockchain is not currently feasible for UPS; we are also very disappointed with this.

Mary | Satoshi Club: Yes, regulations are pure pain! And it’s really great that you don’t stop and moving forward to the new partnerships!

Xiaoming Wang: At the same time, we are still actively working on new commercial applications, such as HPB’s integration with SZ (https://www.sz.cn), a decentralized social e-commerce platform. Right now, SZ has already built a 100,000 person community with over 200 BD Partners involved..

We keep working on the HPB blockchain innovation and application and have never stopped. Please stay tuned with us on our latest.

Q9 from Telegram user @mikenit890

Why exactly does your team need a sidechain of the HPB MainNet, capable of acting independently? Since most activities are run on the mainnet, why do you propose that the sidechain speed ought to be x50 faster than the Mainnet? Isn’t the faster speed supposed to be on the mainnet? Please explain.

Xiaoming Wang: The sidechain independent of HPB MainNet is an exploratory project based on HPB’s consensus algorithm, which can transfer the storage pressure caused by high volume of transactions. This project is still in the laboratory phase, and the team will disclose more information on concrete outcomes later.

Mary | Satoshi Club: Nice, more announcements are on the line

D. | Satoshi Club: very nice! interesting things ahead of us

Q10 from Telegram user @KhaleesiTheCryptoLady

What is the BOE Hardware Accelerator, what is its use? What are the advantages and benefits it provides in HPB’s ecosystem as well with the users?

Xiaoming Wang: HPB’s hardware accelerator, called the Blockchain Offload Engine or BOE, is installed inside each of the high-spec servers running an HPB node across the globe. These BOEs take pressure off server CPUs and drive some of the fastest transactions in blockchain (5000 TPS average). You can read more about our BOE blockchain accelerator here: https://www.hpb.io/boe

Mary | Satoshi Club: Unbelievable speed. Thank you for your answers

D. | Satoshi Club: OK – we have some time for a few more topics that were raised from the advance questions from the community…

Q11

The recent decision to suspend staking caused a strong reaction in the HPB community? What happened and what are your new plans?

Xiaoming Wang: Here is a video about BOE： https://www.youtube.com/watch?v=BepjNeUa5_s&ab_channel=HPBCommunity

Compared with the current mainstream public chains, the HPB team found that staking alone for a 5% annualised return is unsustainable; therefore, we initiated a community vote, which has not passed at present, so staking is suspended. A survey has been set up to get community input on 10 additional options here: https://forms.gle/yg89T9DfEJfYY49Z6 and the discussion can be restarted on the topic, once the community have responded to the survey in higher numbers.

In addition, the DEX built on the HPB main network is undergoing testing. It has a liquidity pool and order book function. After it goes online in the future, it will provide the HPB community with the opportunity to trade assets.

Q12

How many node operators do you have and how can I apply to become a node?

Xiaoming Wang: At present, HPB has more than 100 hardware acceleration nodes on the entire network. The new node election has not yet started. You can send an application email to node@hpb.io for communication.

The specific requirements are as follows:
You need to have a minicomputer with a bandwidth of about 100MB. Please refer to this link for details:
https://www.hpb.io/static/file/node/HPB_NodePlan_en_英语_English.pdf

Q13

We notice that some of our members are sceptical about the 5000 TPS claim. How do you respond?

Xiaoming Wang: It is planned that after the latest HPB virtual machine goes online in December, further online blockchain pressure test results will be given. We provided a report already in 2019 here: https://www.hpb.io/post-362. Without sitting at the same test bench, it will be hard to convince a sceptic. But, the relative speed of transactions on HPB should be clear when you transact with our wallet, or play the raffle @hpbprice as this records all transactions on-chain.

Q14

We hear that you have some wallet options? Can you tell us more?

Xiaoming Wang: The wallets currently supporting the HPB MainNet are:

1. The official wallet download address:
Hot wallet: https://www.hpb.io/wallet
Cold wallet: https://www.hpb.io/walletC

2. Community-developed wallet to use with Ledger and Trezor: https://myhpbwallet.com/

3. Metamask wallet: configuration guide https://www.hpb.io/question-132

Part 2 RAFFLE

$250/100s users were tipped $HPB to try HPB’s rapid fire rolling raffle, with a 1 in 5 chance of winning 8 HPB in each round! Raffle was hosted by HPB Price

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:

HPB Global Community: https://t.me/hpbglobal

We are pleased to announce our next AMA on November 27th 2020 at 12:00 PM UTC Time: Satoshi Club x Morpheus Game

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Morpheus Game 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. Morpheus Game Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Morpheus Game

For more details:
Morpheus Game – @morpheusgamechat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on November 26th 2020 at 02:00 PM UTC Time: Satoshi Club x PapaWeirdo

⚠️Click to see the hour
⚠️Total Reward pool: $1000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join PapaWeirdo Discord 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. PapaWeirdo Team will select 10 questions and answer them.

Part 3: 700$ – A quiz about PapaWeirdo

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

Hello, Satoshi clubbers Another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from Ethereum Yield. The AMA took place on 19 November at 2 PM UTC.

The AMA session was divided into 3 parts with a total crypto reward pool of 1000$

In this AMA Recap we will try to summarise the most interesting points for you.

Mary | Satoshi Club

Hello, Satoshi Club! We are happy to announce our AMA session with Ethereum Yield! @liaofu welcome to Satoshi Club :grinning:

Liao Fu

:hand:🏻

Gold Rocket | Satoshi Club

Hello, friends! Today we are pleased to introduce you a project Ethereum Yield!

Gold Rocket | Satoshi Club

Today is our guest @liaofu. Welcome to Satoshi Club!

Mary | Satoshi Club

Hi, how are you, @liaofu ?)

Liao Fu

I am well. Thank you for the invitation. How are you ? :blush:

Mary | Satoshi Club

We are great, looking forward our informative AMA :+1:

Liao Fu

:rocket:

Mary | Satoshi Club

Could you please introduce yourself and Ethereum Yield?)

Liao Fu

I am Liao and one of the developers in the Ethereum Yield (ETHY) project.

ETHY is Ethereum’s most powerful yield farming coin. ETHY’s vault smart-contract executes strategies to maximize APY, reward holders, and punish weak-hands.

Super Liquid

Users are incentivised to stake Uniswap liquidity provider tokens. Fees from these tokens are farmed. A percentage of these fees goes toward the autonomous strategies like liquidating LP tokens, and performing an (ETH-ETHY) buy back (increasing the price). Any purchased ETHY tokens will be distributed to stakers/farmers.

Non-Inflationary

ETHY implements a strong force on each token. Every time an ETHY token is transferred, a small fee is taken, which is returned to the farmers. This mechanism incentivises holding and farming. There will never be more than 500k ETHY.

Community controlled

ETHY holders will be able to vote on proposals– so long as they have staked liquidity in the pools. The community will decide everything from developer fees and site design to the exact farming options available.

Gold Rocket | Satoshi Club

Very informative intro!:+1:

Liao Fu

Thank you :heart:

Mary | Satoshi Club

Great :+1: Thank you for your intro, as a developer, i think you will be happy to answer our community questions 😉

Ready to go?

Liao Fu

yes :blush:

Q1 from Telegram user @bitcoinistic

When pre-sale end and when people provide LP they will use ETH from PRE-SALE. So, basically in the pre-sale I buy the tokens and give myeth for the LP at the same time?

Liao Fu

That’s right.

In translation it comes as FREE-PRE-SALE which honestly we are one of the few projects that have done that.

Mary | Satoshi Club

Nice idea:grinning:

Gold Rocket | Satoshi Club

Sounds good

Liao Fu

:rocket:

Gold Rocket | Satoshi Club

Can we proceed to the next question?Or you want to add something?

Liao Fu

Yes! Next question :blush:

Q2 from Telegram user @cryptomonkss

CertiK mentions that their reports are not, nor should be considered, an “endorsement” or “disapproval” of any particular project or team. Any project can request an audit from them. So, the most important thing is not that you are audited by them, but what is the conclusion of their report?

Liao Fu

We can proudly say that no errors were found on our smart contract. Certik is one of the largest cyber security companies and we are very happy to work with them. Users can see the full report on their official website:

https://shield.certik.foundation/projects/ethereum yield/

https://certik-public-assets.s3.amazonaws.com/REP-ETHY-09_11_2020.pdf/

Mary | Satoshi Club

One of the latest hacks was Akropolis and it was also audited by Certik, didn’t you think about additional audit to secure everthing maximally?

Gold Rocket | Satoshi Club

Thanks for your answer!

Liao Fu

It was not a hack but the Akropolis team made a backdoor and withdrew their tokens. We can call this as RUG

Benefits and trust with Ethereum Yield is that we have DISABLE FOREVER MINTING OPTION

Mary | Satoshi Club

Got it, thank you :+1:

Next question?)

Gold Rocket | Satoshi Club

Thanks for the clarification

Liao Fu

Yeah next 🙂

Q3 from Telegram user @parisienne_a

You state on your website that:

“ETHY holders will be able to vote on proposals– so long as they have staked liquidity in the pools. The community will decide everything from developer fees and site design to the exact farming options available.”

It’s very good that the community will be involved in the governance of the project. The fact that is a red flag though is that nowhere could I find the exact methods and rules by which this will work. Can you tell us how will be people able to make decisions?

Liao Fu

That’s right ! We listen very well to our community and accept almost 99% of their suggestions. So today we agreed to do an update to the website and we changed the design.

We will have a special group with the majority owners of ETHY, and they will be able to make decisions with the team, and the team will be very happy to listen to them.

The most important success is listening to the community.

(next)

Q4 from Telegram user @dani_minkovicz

You are non-inflationary token and the maximum supply is 500k ETHY. Only the farmers will be able to gather tokens. That is good, it incentivize holding. However, will you have a deflationary policy as well?

Liao Fu

Our MAX supply is 500k.

100k PRE SALE

375 FARMING REWARDS

25k TEAM LOCK

(please note that tokens which they are not sold at pre-sale phase gonna be used for farming rewards).

next

Gold Rocket | Satoshi Club

Q5 from Telegram user @kafeinen

Discouraging bots and weak sellers from dumping the token is cool, but don’t you think that this method you’ve decided to use will discourage a lot of good market players form buying from you? Also, please tell us what is this fee that you intend to use and if it will be fixed, or will change in time?

Liao Fu

We came up with the idea to make the system so that anyone selling on UnisWAP – 5% FEE of the token will go to the farmings rewards pool and reward users, and then the bot is unable to do a trade and dump price because it will not be profitable .

This is something like an ANTI BOT system.

next

Q6 from Telegram user @edibrown

How much surplus ETH and ETHY may be lent out, is the % flexible or will it stay the same?

Liao Fu

We will publish this information with the exact figures in 2-3 days soon.

next

Mary | Satoshi Club

But if you ecsidentally will still see the dump?) Btw, can you tell us the price for Sale and Uniswap listing price?

Gold Rocket | Satoshi Club

We hope you come to Satoshi Club to share this.

Liao Fu

Our price on UniSwap will be 10-20% higher than in pre-sale phases.

The current price is 1 ETHY = 0.02 ETH

https://ethereumyield.farm/

next

Gold Rocket | Satoshi Club

Sounds great

Mary | Satoshi Club

I really heard this million times, but the reality often differs. And do you have bonuses for Pre-Sale?

Liao Fu

What we promise we deliver for our community.

There is no bonus for pre-sale because main benefits on pre-sale is that people can do LP with ETH raised from pre-sale which means they got something like FREE ETHY

Mary | Satoshi Club

Ok thank you :smiley: Ready for live questions part?

Q1 from Telegram user @konditer_rolex

Audited by CERTIK, PR published by Cointelegraph, partnership with DEXToolsApp – that’s what I understand you decided to hyip. We say “a good show is more expensive than money”. But you started it for the sake of the presale. Tell me how much you expect to raise? Will there be more presale rounds if there is not enough money? What will happen to the tokens that will not be sold?

Liao Fu

We always want to work with the best and give customers great legitimacy and protection when they want to invest.

So we just decided to work with Certik, Dextools, Cointelegraph and others.

We expect to raise more than 1000 Ethereum and there is no pre-sale round.

Unsold tokens will be transferred to the farmings rewards pool and will be assigned to users.

Q2 from Telegram user @brodzon1

Why is hardcap so high 2000 eth and for what will be used all these Eth

Liao Fu

Do you like to see a project on UniSwap with 100 ETH pooled or with 2000?

The larger the community we have and the investors – our project is stronger and bigger.

Q3 from Telegram user @huydo

You plan to list on UniSwap on 23Nov, so how about planning for listing on CEX such as Binance, Huobi…?

Liao Fu

We will be on UniSwap on November 23, and as far as CEX is concerned, we do not plan to make an effort and push towards that, because mostly CEX dumps price with their arbitage bots. a lot.

Q4 from Telegram user @warny

I don’t like the site design, how much ETHY do I need to hold to be able to change that design?

Liao Fu

We released that new website design today, and you can still use the older version at https://old.ethereumyield.farm/

HODL is always better option :joy:

Q5 from Telegram user @chunhocxitrum

I want to join Pre-sale, but I don’t have much ETH, so are there any requirements for min or max ETH for pre-sale? @liaofu

Liao Fu

Users can enter at pre-sale with minimum purchase of 1 ETHY = 0.02 ETH.

Maximum purchase per address is 40 ETH but please note that people always can make multiple address and purchase more so there is no way to stop whales. :eyes::blush:

Q6 from Telegram user IVY Park

Was any major issues or vulnerabilities reported after the audit by Certik?

Liao Fu

We are very proud and happy to say that they were not found major issues or vulnerabilities :heart:

Q7 from Telegram user @KhaleesiTheCryptoLady

How much approximate APY could farmers can earn if they provide liquidity in Uniswap? Can you share to us guaranteed reward ratio?

Liao Fu

Users will have an APY earnings of 200%.

Their funds will be locked for 8 months, but they can always withdraw their funds with a 25% penalty.

We want to give users the opportunity to withdraw their funds without locking them up forever.

Q8 from Telegram user @toanphamhd

Do you have plan to Burn/Buyback Token to increase its value? and What is the your Token Utility in the ecosystem?

Liao Fu

Fees generated by the deposited LP tokens on uniswap will periodically be withdrawn by the contract; ETH and ETHY will be returned; The ETH will be used to buy ETHY from uniswap, increasing the price, which is great for all holders. All surplus ETHY will be redistributed to the farmers and small admin fee will be taken. This pumping strategy may be updated over time to an even more aggressive protocol.

Q9 from Telegram user @KeymerS

Among so many different platforms in the ETH chain that have yield farming, why choose this one? What advantages does it have over the rest and what future plans will they have?

Liao Fu

I would like to give you full answer on targeted page:

https://docs.ethereumyield.farm/evaults.html/

Q 10 from Telegram user @zaferce

Is there a way to reduce transaction fees on transactions provided for farming? What is the advantage of using EVault so that our profit is minimally affected?

Liao Fu

There is way but we want to keep 5% fee to prevent BOT manipulation on UniSwap and that our users feel more safe.

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.

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:

Telegram: https://t.me/ethereumyield/

Twitter: https://twitter.com/EthereumYield/

Websites: https://ethereumyield.farm/

Hello, Satoshi clubbers another AMA took place at Satoshi Club and we would like to introduce to you the AMA session with our friends from DeFiance. The AMA took place on 21 November 4 PM UTC.

The AMA session was divided into 3 parts with a total crypto reward pool of 600$ .

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

Luis Merino :es: | Satoshi Club

Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club.

Today we have our guests from Defiance.

@defiqueen @def_erik @wearedefiance @Def_Giorgio welcome!!

Charlie

Hello to everyone! How are you, how is your day going?

I am Charlie from Defiance!

Gold Rocket | Satoshi Club

Good evening Satoshi clubbers! We are starting our today’s AMA with Defiance. Our guests today are @defiqueen, @def_erik, @wearedefiance, @Def_Giorgio.

Giorgio

Hi everyone

Luis Merino :es: | Satoshi Club

Yes dear community, I’m back moderating. Don’t worry :wink:🥰

Erik (Defiance Developer)

Hello! I am Erik from Defiance, nice to be here. :blush:

Gold Rocket | Satoshi Club

Welcome to Satoshi Club, @defiqueen, @def_erik, @wearedefiance, @Def_Giorgio!

Charlie

Thank you!

Luis Merino :es: | Satoshi Club

Welcome guys! How are you all today?

Charlie

We are pretty good, thank you very much. On the other hand, we are of course quite tired. 🙂

Gold Rocket | Satoshi Club

Thanks for joining us.

Charlie

Thank you all for setting this AMA session.

Luis Merino :es: | Satoshi Club

It is a real pleasure!!

Gold Rocket | Satoshi Club

Tell us more about yourself and Defiance project

Charlie

It certainly a real pleasure for us too.

Defiance (DEF) is a deflationary ERC20 token for now with a reward system for holders.

Soon it will be implemented on Polkadot network, too.

Luis Merino :es: | Satoshi Club

Sounds great!!

Charlie

Thanks :blush:

Gold Rocket | Satoshi Club

it’s really very interesting!

please tell us a few words about yourselves and how did you get to be involved in Defiance.

This is a very young project

Charlie

I have invested/participated in various projects for many years. I know the entire Defiance team for many years.

Gold Rocket | Satoshi Club

Do you have a big team?

Charlie

Personally, my profession is directly related to technology. I can say the same for the whole team.

Luis Merino :es: | Satoshi Club

And what’s your role now in Defiance?

Charlie

I.E. Eric is an engineer, Chloe is a computer scientist, Giorgio is a marketeer.

Luis Merino :es: | Satoshi Club

:clap:

Charlie

I am responsible for service design. I also have research and development responsibilities for the future of Defiance, too.

Gold Rocket | Satoshi Club

This is impressive. Real professionals.

Luis Merino :es: | Satoshi Club

Got it. Thank you

Gold Rocket | Satoshi Club

Do you wish to remain anonymous?

Charlie

Thanks. :blush:

We prefer to stay that way right now. For Defiance.

Gold Rocket | Satoshi Club

:+1:

Thanks for the introduction, we will have a question selected for the Part 1. ready to start?

Or you want to add something?

Charlie

Yes, typing write now. 🙂

Being anonymous is critical for us. Here is why.

We are aware of the difficulties of giving a new impulse to the blockchain world. If we publicly publish our credentials, we think it will prevent us at some point from doing what we want to do.

Gold Rocket | Satoshi Club

I understand you. it’s your right.

Charlie

When we say what we want to do, it is not grabbing the cash and running away of course. We are trying to build a decentralized project that has a governance model and that will function as a successful DAO. In the long run, it won’t matter who the team members are but the project will be run by the DAO that will be built as a part of this project. Our identities do not matter in this context. We are a leaderless structure, consisting of people who are fed up with the infinite number of scams, rugs, incompetent projects that raise millions of dollars and do nothing. Hence, our name: “Defiance”.

Luis Merino :es: | Satoshi Club

:clap::clap::clap:

Charlie

You must have been following the latest events in the crypto world for the past 10 days. What happened to the public team projects? It didn’t prevent them from scamming thousands of people and running away with their funds. There are also so-called public teams with fake Linked-In profiles. PAMP, BLV, WALT to name a few.

Gold Rocket | Satoshi Club

Thank you for such an emotional speech!:blush:

Charlie

I am not saying that being public is not a good thing, but it is something one shouldn’t only focus on so blindly to evaluate the legitimacy of a project.

You know better than us that this year there has been a paradigm shift in doing due diligence for choosing the projects to invest in. In 2017, the first things one would look at were the whitepaper, then the team members and their LinkedIn profiles, and so on.

Luis Merino :es: | Satoshi Club

You are right

Gold Rocket | Satoshi Club

It’s ok!:+1:

Everything is clear to me. Can we proceed?

Charlie

We are not a quick cash grab project. If we were, we wouldn’t have a private sale that lasted for a little more than 1 month, we wouldn’t have a Github for our own code, but rather an automatically generated ERC20 token. We wouldn’t have bothered to design a beautiful website, which also has a dedicated sales platform working with Metamask. We wouldn’t have developed a staking platform for it. We would have gone with a less ambitious ETH raise, we wouldn’t have bothered to do a private sale. But we are here for the long run. We are here to stay. We wanted to make this raise in order to pass this phase and get it over with so that we can focus on our long-term plans and focus on developing and delivering our vision. We don’t want our project to be a still-born that loses its hype on Day #1.

I understand that you also wouldn’t want to jeopardize your reputation for endorsing an anon team’s project. But we are not 100% anon. We have just recently sealed a deal with a reputable blockchain institution. You can check them out here: https://www.bitbrain.ch and https://www.bitbrainacademy.com/en/about-us/

Erik (Defiance Developer)

@wearedefiance Allways speaks a lot and writing long sentences… :joy:

Charlie

🙂

Gold Rocket | Satoshi Club

:sweat_smile:

Charlie

They are going to be advising the project for the long term objectives ahead in terms of network, marketing, and auditing needs as well as the recruitment processes of developers for the future integration needs. They also run an education institute and our team members are getting trained and they will get certified by this institute as well.

Chloe @ Defiance

Charlie likes to talk about this issue, he is very passionate about it 😀 he can go on and on about this

Charlie

The end. 🙂

Luis Merino :es: | Satoshi Club

Part 1 now? 🙂

Charlie

Yes, please. 🙂

Gold Rocket | Satoshi Club

Q1 from Telegram Username @brodzonl

In case the hard cap is not reached, ~48% of the ETH collected from the sale will be added as liquidity to the Uniswap Pool. In any case, the funds in the pool will be locked.

What happens if Hard cap is reached, how much precents is going to be added as liquidity on Uniswap? In case of not reaching Hard cap what will happen to unsold tokens? What is your progress with presale for now?

Charlie

@defiqueen your turn. 🙂

Chloe @ Defiance

Charlie, I would like to answer this one so that your fingers can get a little rest

Right!

Charlie

Haha, you know me well. 🙂

Chloe @ Defiance

Thank you @brodzonl for this question :relaxed:

The percent of liquidity to be added will remain the same. In case the hard cap is reached, we will be ready to provide a fat Uniswap liquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity. In case the hard cap is not reached, we are going to provide the 48% of raised ETH during our Private Sale + Public Sale round(s). This liquidity will be immediately locked upon listing and liquidity lock proof will be shared with our community.

If the hard cap is not reached until the 24th of November, then we are going to burn all the unsold tokens before listing. The presale is going well at the moment. Crypto Twitter has started to talk about us and we are welcoming more and more people in our Telegram community. Until now, more than 300 ETH have been raised during the public sale, along with the private sale round, we are close to more than 750 ETH raised as of now. We are anticipating people to contribute as the end period of the sale approaches.

You can actually observe the transaction yourself by looking at the Etherscan of our token tracker.

This is the beauty of blockchain. Even though we explain things and convince you about your potential concerns about the project, it is the best practice which I am applying in my personal life: “Don’t trust, verify!”

Can you guys pass the Etherscan link for the community to track it themselves?

Giorgioadmin

https://etherscan.io/address/0x69079912350b1eaaf1cd5e69b40a4858d47a5ebc/

Luis Merino :es: | Satoshi Club

Thank you!

Gold Rocket | Satoshi Club

Thanks for sharing:+1:

Chloe @ Defiance

I hope this answers your question 🙂,

Gold Rocket | Satoshi Club

Thanks Chloe!:+1:

Luis Merino :es: | Satoshi Club

I think it is clarified. No questions for me

Thanks :))

Gold Rocket | Satoshi Club

Good answer!

Chloe @ Defiance

You are very welcome! Thank you for the opportunity to address this

Luis Merino :es: | Satoshi Club

Ready for Q2? Or do you want to add something?

Charlie

Yes, please.

Gold Rocket | Satoshi Club

Q2 from Telegram user @b_dima

Every transaction will burn 5% of tokens. It is quite high, don’t you think? You incetivize people holding the token in one wallet instead of sending it because the transaction fee is too high

Luis Merino :es: | Satoshi Club

I love this question

Charlie

As we have answered in the first question, the token is designed to burn 2.5% of each tx for good. And the remaining tokens are going to be rewarded to the participants of the staking pool.

Erik (Defiance Developer)

Let me give you some details about the staking portal. You need to stake at least 1,000 DEF in order to participate in the staking program. You will be able to see your staked amount and accrued rewards on the staking interface once it goes live with the Uniswap listing. There is no penalty for withdrawing the reward DEF that you have earned but there is a penalty of 5% if you would like to withdraw your staked amount of DEF tokens if you decide to leave the pool.

Luis Merino :es: | Satoshi Club

Any reasons of this token burn? Is it to make the token more exclusive?

Charlie

Since we are planning to have a governance feature in the next quarters, which can also be seen on our roadmap, the question of this deflationary feature, the burned amount, is it going to be like this forever or will it stop being deflationary when a certain block is reached can be decided by the stakeholders and the proposals they are going to give in the governance platform. A more detailed staking guide will be published on our website and social media channels once our staking program is live.

Luis Merino :es: | Satoshi Club

Thank you. Everything clear

Charlie

Definitely!

Luis Merino :es: | Satoshi Club

Great idea then :))

Gold Rocket | Satoshi Club

Q3 from Telegram Username @yzmoney

Defiance wants to archive a deflationary token by having a 5% burning mechanism with address-to-address transaction. Will this burn rate stops when it drops to a certain amount of token ? can you describe about your staking program as this is not explained in the website.

Charlie

And @LuisMe7 this is a first for the Polkadot Network. This is also very important.

Luis Merino :es: | Satoshi Club

Love it

Chloe @ Defiance

actually this question is somewhat similar that has been addressed here.

as far as the last part of this question is concerned since we are planning to have a governance feature in the next quarters, which can also be seen on our roadmap, the question of this deflationary feature, the burned amount, is it going to be like this forever or will it stop being deflationary when a certain block is reached can be decided by the stakeholders and the proposals they are going to give in the governance platform. A more detailed staking guide will be published on our website and social media channels once our staking program is live.

Luis Merino :es: | Satoshi Club

Yep, anything else to clarify It?

Chloe @ Defiance

Sorry, I am not typing as fast as Charlie :see_no_evil:

Luis Merino :es: | Satoshi Club

When will your staking program be launched?

Giorgio

Luis Merino :es: | Satoshi Club

Thank you Giorgio!!! :relaxed:

Gold Rocket | Satoshi Club

don’t worry Chloe! :blush:

Thanks!

Luis Merino :es: | Satoshi Club

Q4? 😉

Erik (Defiance Developer)

the staking program will start within a few days, we are aiming for it go live before the uniswap listing so that the stakers will benefit from the initial tx.s during the first listing period.

Luis Merino :es: | Satoshi Club

Looking forward to it

Gold Rocket | Satoshi Club

Yes! tell Satoshi Clubbers about it!

Chloe @ Defiance

Very exciting times ahead indeed!

Charlieadmin

Shoot 🙂

Gold Rocket | Satoshi Club

No doubt!:rocket:

Q4 from Telegram Username @cengizhantekin

During or after the private sale, you have reserved about 118.000 DEF tokens for a special reason, why? Which part of the token allocation is it taken from? When will you release them? Who will be able to purchase them in what ways?

Chloe @ Defiance

Charlie can you get this one please?

Charlie

Okay 🙂

Thank you @cengizhantekin for this question. 🙂

Nowadays, coming up with a new project is a tough challenge for both the project team and the potential investors of the project. This challenge intensifies enormously especially when the team is anonymous. We have some solutions to overcome this trust issue, step-by-step.

As a result of numerous rug pulls and soft exit scams of many other projects, potential participants are hesitant to attend a presale as one might expect. Questions such as “Are they ever going to get listed?”, “Are they going to pull the rug even if they get listed?”, “When are they going to lock the liquidity?”, “What if some whale has purchased the majority of the tokens at the private sale price and he/she dumps on us?”…These are all legit and appropriate questions and concerns.

During our private sale process, we tried our best to mitigate these potential threats that would damage the project and harm our early believers. The participants of the private sale have been cherry-picked and a personal cap of sold tokens to each individual has been applied. Apart from a very few exceptions, private sale participation was capped at 10 ETH per person.

Chloe @ Defiance

Let me also contribute to this question with some more context:

During our private sale process, we tried our best to mitigate these potential threats that would damage the project and harm our early believers. The participants of the private sale have been cherry-picked and a personal cap of sold tokens to each individual has been applied. Apart from a very few exceptions, private sale participation was capped at 10 ETH per person.

Gold Rocket | Satoshi Club

@wearedefiance Btw what is the min/max to buy on Sale?

Chloe @ Defiance

As for clarifying the second part of the question: some parties wanted to participate in the private sale but had the above-mentioned concerns in their minds. We have offered them an allocation reservation and an option to buy after they are 100% sure that DEF gets listed. For this purpose, an allocation of ~118,000 DEF is being kept as reserved tokens and if the potential participants decide to buy them upon our partnership and listing announcements, they have the right to do so. But in order to protect the early believers of the project and the public sale and Uniswap participants, their tokens won’t be directly available to trade on the first day of listing.

Erik (Defiance Developer)

Charlie is writing and writing again… Let me answer this 🙂

There isn’t any min or max limit for public sale.

Charlie

Some parties wanted to participate in the private sale but had the above-mentioned concerns in their minds. We have offered them an allocation reservation and an option to buy after they are 100% sure that DEF gets listed. For this purpose, an allocation of ~118,000 DEF is being kept as reserved tokens and if the potential participants decide to buy them upon our partnership and listing announcements, they have the right to do so. But in order to protect the early believers of the project and the public sale and Uniswap participants, their tokens won’t be directly available to trade on the first day of listing. These tokens will be released once the token reaches its just price appreciation and they will not be moved for at least 1 month. If they decide to buy those tokens after DEF is listed on Uniswap, they need to send the corresponding ETH to our private sale address. But as a penalty for being a little skeptical about participating in the private sale round before it gets listed on Uniswap, they won’t be able to have control over their tokens for at least 1 month and they won’t be able to utilize their tokens for the staking program to receive staking rewards. This is only fair and it protects our early investors and public sale buyers. A transparency report, containing all the wallets will be provided on our website and medium, you will be able to observe and track the movements of those wallets yourself.

Luis Merino :es: | Satoshi Club

I love AMAs that have many guests, info is raining every sec :))

Charlie

Haha, thanks Erik!

Gold Rocket | Satoshi Club

Thanks:+1:

Luis Merino :es: | Satoshi Club

:clap:

Gold Rocket | Satoshi Club

Team spirit:grin::+1:

Luis Merino :es: | Satoshi Club

No questions at all for this one. Very complete answer. Thank you guys!!

Gold Rocket | Satoshi Club

Can we proceed?

To the next question?

Erik (Defiance Developer)

Yes please!

Gold Rocket | Satoshi Clubn

Q5 from Telegram Username @magic2crypto

Your PolkaBridge GitHub is empty so far and i don’t see erc20 tokens allocated to support work of ERC20 Polkadot Bridge, to provide it’s liquidity, etc. Could you disclosure this step of your roadmap more detailed? Will you migrate completely to Polkadot with 1:1 swap? Or, will you create additional assets in Polkadot ecosystem to provide the liquidity for the bridge? Or, will you reallocate some qty of erc20, by reducing Uniswap pool for instance? Or,which other way?

Erik (Defiance Developer)

Thank you for your question @magic2crypto

Yes our repo about the Polkadot side of the project is not open to public right now. We are not talking about fully swapping into another network completely and leaving Ethereum behind. What we’re are interested about is the interoperability between the Polkadot and Ethereum Networks. We are planning to have a bridge on Ethereum <> Polkadot Networks in order to reduce costs of each transaction and balance the load on the Ethereum side of things while doing so.

Charlie

Quoting from the previous question that have been asked here recently, our plan about adding liquidity is as follows:

In case the hard cap is reached, we will be ready to provide a fat Uniswap liquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity.

In case the hard cap is not reached, we are going to provide the 48% of raised ETH during our Private Sale + Public Sale round(s). This liquidity will be immediately locked upon listing and liquidity lock proof will be shared with our community.

Giorgio

This information about how the remaining raised ETH will be utilized according to the following parts. I’m pasting this bullet points from our telegram group pinned message for your convenience:

Luis Merino :es: | Satoshi Club

Liquidity will be on fire :fire:

Giorgio

The remaining ETH raised will be used for the following purposes:

:sun_with_face: To provide liquidity for the other DEXes apart from Uniswap,

:sun_with_face: To be used for the integrations with the Polkadot and other possible chains,

:sun_with_face: For the collaborations and partnerships to be established in the crypto ecosystem for providing an added value to the project,

:sun_with_face: For the advantages and perks that will be provided to DEF holders throughout this long journey,

:sun_with_face: To reward community efforts and compensate the hard work given behind the scenes by the people with different roles.

Luis Merino :es: | Satoshi Club

I love that you have clear ideas on where to invest the money! :))

Ready for the last question for part 1?

Gold Rocket | Satoshi Club

thanks for the extensive answer

Charlieadmin

Thank you. 🙂

Our investors have believed in this project and trusted us with their hard earned ETH.

It is only fair that we don’t spend these funds relentlessly.

Chloe @ Defiance

Bring it oooon :+1:🏻:+1:🏻:+1:🏻

Gold Rocket | Satoshi Clubadmin

Q6 from Telegram Username @JimJammers

According to the literature, Defiance rewards holders for holding. Is there a penalty (expressed or not) if one decides to liquidate besides the tax described in the same literature?

Chloe @ Defiance

let me get this one

Thank you @JimJammers for this question. As we previously answered the question about the staking program, the rewards the stakers will receive will not be penalized if they decide to withdraw the collected rewards.

Gold Rocket | Satoshi Club

Feel free

Chloe @ Defiance

This is done automatically in the code with the whitelisting feature. The only penalty you have here is for withdrawing the staked DEF and it is the same tax as if making a tx of buying/selling/transferring your DEF tokens.

Again, the 2.5% of these unstaked tokens will be burned for good and the remaining 2.5% of these tokens will be redistributed to the reward pool for the stake program participants. So you are being rewarded by staking your tokens and keeping them out of circulation. If you decide to become a whale, this penalty is needed in order for it to be fair for the other stakers with any amount of tokens >= 1,000 DEF.

Charlie

Thanks, Chloe. 🙂

Luis Merino :es: | Satoshi Club

Anything to add? :))

Chloe @ Defianceadmin

I think we are ready for the part 2, looking forward to a flood of questions :blush:

Part 2 — live questions from the Telegram community

Q1 from Telegram Username @KeymerS

Currently they only maintain a partnership with BitBrain, that would be the only company in which they could trust that if the project is real, but why not put more personal information about the team or more details of the company? or where can i get it?

Charlie

This question has already been addressed comprehensively here. Please refer: https://t.me/Satoshi_club/411462/

Q2 from Telegram Username @DiegoRME

When I send the desired amount of ETH to buy from your DEF tokens, would it be immediate that we would receive our corresponding tokens or do we have to wait for a period of time?

Giorgio

This is all tied to our smart contract. You will be immediately and automatically receiving your tokens in your wallet once the ETH tx clears. So you don’t have to wait for your beloved DEF tokens. You need to add them to your wallet as custom token using this address: 0x90e6E082B0aa4bf6AFBA0d11163d920A534EBae4.

Q3 from Telegram Username @BERTA2020

The percentage of your staking system varies depending on the amount entered in it or is it fixed for any amount?

Erik

As we have addressed this question about the staking mechanism, the percentage remains the same. 2.5% of every tx goes to the reward pool and it will be sent to the stakers proportional to their stake amount. As an example scenario: Let’s say there is a TX involving the transfer of 10,000 DEF. 2.5% of this amount which is 250 DEF tokens will be burned for good. The other 2.5% will be rewarded to stakers, which is also 250 DEF.

Let say what Alice has staked makes the 10% of the total staking pool. Alice will receive 10% of this 250 DEF which is 25 DEF. I hope this makes it clear.

Q4 from Telegram Username @Thiexzoro

Can you give me the current price of $DEF and the pre-sale price? So I can compare and compare and decide to buy more or less? Can $DEF be used to hold or burn

Giorgio

Private Sale Price: 1.350 DEF/1 ETH (Closed)

Public Sale (Round1) Price: 1.150 DEF/1 ETH (Live)

Public Sale (Round2) Price: 1.000 DEF/1 ETH (Not started)

Uniswap Listing Price: 680 DEF/1 ETH

Q5 from Telegram Username @JuanSB07

Lately, many projects and (most of all) DeFi protocols start under ETH’s ERC20 network, but they always clarify that in a later time they will change to another chain, in Defiance it will be polkadot for the interconnection of chains, but why start with ETH? why not start direct with the desired chain?

Erik

Polkadot will not be the only chain that this project will be on. It will co-exist between different chains actually. That’s why we would like to utilize the nice interoperability features of the Polkadot Network. We are also not blockchain biased at any point and we are also considering other blockchains that might be beneficial to Defiance, we are taking a closer look at the Avalanche protocol (AVAX) for example. We have started developing this platform on the EThereum Network to utilize the popularity and volume that the DEXes have at the moment. Hopefully, in the near future, other blockchains will also have nice and high volume DEXes.

Q6 from Telegram Username @BJosefina61

In addition to the Uniswap listing, is there a clear path to the Defiance listing on CEX?

Giorgio

Our initial plan and focus is getting listed on Uniswap. Then we are going to use the raised amount of ETH, apart from the Uniswap to provide liquidity for the other DEXes apart from Uniswap. When it comes to listing on CEXes, it needs to benefit both the vision of the project and its investors. So it needs to be integrated with the deflationary feature. However, this is just the beginning plan for Q4, 2020. As you might have already checked, the project aims to become a DAO in the next quarters, which will be led by the token holders. Then they will have a say on the future plans of the project.

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To summarize it, we do not close the doors tightly shut for CEX listing opportunities, but we are not going to do it until it really has a meaning and benefit for our community.

Q7 from Telegram Username @Ayh406

How will Polkadot contribute to your project in the future? Which features of Polkadot do you like?

Chloe @ Defiance

Polkadot Network is one of the most robust platforms in the cryptosphere due to its security, speed, flexibility, and working capacity between different networks. In this context, Polkadot Network will provide great potential for the project.

We are not talking about fully swapping into another network completely and leaving Ethereum behind. What we’re are interested about is the interoperability between the Polkadot and Ethereum Networks. Polkadot provides transactional scalability by spreading transactions across multiple parallel blockchains. Some of us have witnessed the CryptoKitties craze that clogged up the entire Network back in the back.

Today we are running into similar issues with Ethereum Network due to the popularity of DEXes, mainly started with Uniswap mania. When the network is busy, you get a lot of failed transactions, incredibly high gas fees, these are the costs that the buyer side needs to bear. We are planning to have a bridge on Ethereum <> Polkadot Networks in order to reduce costs of each transaction and balance the load on the Ethereum side of things while doing so. Polkadot doesn’t need hardforks to upgrade itself for integrating new features or fixing bugs.

The Substrate framework development is hassle free and convenient. Also the Polkadot Network has its own governance system which is in line with the vision of our project, which will have governance features where all stakeholders have a say in the very near future. We are also a member of Crypto Valley Swiss and our partner Bitbrain is located at the heart of Zug, neighbors and are in close connections with the web3 foundation. As the phrase goes we are in the position to rub shoulders with them, although we do not rub shoulders due to Covid-19 restrictions at the moment :blush:

Q8 from Telegram Username @konditer_rolex

I read about the steps you took to convince investors to boldly invest in Defiance. Of course, you will now voice them for all of us. But I would like you to add some information about who had pre-sale privileges.Who was allowed to buy more than 10 ETH of your tokens in October?Are there currently blocked accounts or have investors of all categories already received their tokens?

Giorgio

It happened like 1.5 months ago and we have recently closed the private sale.

The private sale allocations mostly consisted of people/communities who have contacted us and have proven that they have the potential to make a positive contribution for the long term success of the project. These allocations are capped, so we didn’t allow any whales to take hold of the majority of the tokens and kill the project before it even starts.

Q9 from Telegram Username @cryptonatorswiss

Your partnerships and collaborators are based in Switzerland. What is the reason for this or do you live in Switzerland?

Charlie

I and a few other teammates live in Switzerland, and Switzerland is the best place to start a cryptocurrency venture!

Btw, didn’t you see the photo I took in front of my web3 foundation?

Q10 from Telegram Username @Pratze

Yesterday I try to access Defiance website but there is an error in there. What happen to Defiance website? It is still safe to do invest with Defiance ?

Erik

Our systems have undergone an intense DDOS attack yesterday, during the first day of the public sale and the network where our website was being hosted become clogged and unable to respond. As we were trying to tackle with this challange, we have received some private messages and offers from some parties, offering their services to stop this DDOS attack. We have not given in to these extortions. They wanted us to pay them some ETH to stop this attack. We do not want to endorse this kind of threats in the crypto community. For this reason, we have built a system that consists of several different servers with cluster and load balancing systems under a new server infrastructure. If a similar attack happens, they need to overcome several security measures. In addition to that we have 2 more backup servers with the same precautions taken and they are ready to be used as a back up system.

It is also possible to contribute to our Public Sale directly using the public sale token contracts, which is described in our Buying guide here:

https://sale.def.finance/doc/DEF-BUYING-GUIDE.pdf/

Charlie

We would like to thank you for giving us this opportunity and the community for asking these amazing questions.

Since we had limited time here, we didn’t have the chance to answer all of your questions.

However, we are always here for your questions and we will be more than happy to answer those in our Telegram group after this AMA.

Last but not least our public sale is still alive until the 24th of of November 17:00 UTC :relaxed:

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.

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