Month: November 2020

Sometimes you should trust bots and they will do for you what you yourself won’t be able to do physically. And today we would like to tell you about the AMA session with our friends from Bot Ocean. The AMA took place on November 06 and our guests were Lorena Tincu, CTO of Bot Ocean and Dragos Lipa, CEO of Bot Ocean

The total reward pool was 2000$ and has been splitted in 3 parts.

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello,Satoshi Club! We are happy to announce our AMA session with Bot Ocean! @loretincu welcome to Satoshi Club:grinning:

Lorena Tincu: Thanks for the invitation Mary! 🙂

Dragos Lipa: Hello everyone! Thank you for having us

Mary | Satoshi Club: Happy to see you here :+1: How was your day?)

D. | Satoshi Club: @dragosL @loretincu hello guys! welcome to Satoshi club! 😊

Lorena Tincu: It went great up until now thank you, but I hope it’ll be even better after our AMA today

Dragos Lipa: Great, I think everyone is enjoying the run that the market is having

Mary | Satoshi Club: We as well:+1: Could you please introduce yourself and tell us how did you start with Bot Ocean?)

Lorena Tincu: I’m an automations engineer and have been a developer for the past 6 years; from working on large teams that iterated on live products to building new ones from scratch. I’ve been involved both in startups and large companies but after all this while I decided it was finally time to choose a clear direction in which to go and at the time I had known Dragos for a while and decided to join as CTO and dedicate my time to Orka & Bot Ocean.
My specialization as a software engineer lies in machine learning & AI but over the years I’ve learned to become well-rounded enough to be involved in all the various parts of building an application. With the help of everyone else on the team it’s actually been quite fun to build the whole infrastructure for Orka and now Bot Ocean so it’s something I see myself doing for the years to come.

Mary | Satoshi Club: Great background, sure it will help Bot Ocean a lot:wink:

Dragos Lipa: Sure! Back in 2013 I initially started mining BTC with a small home setup but that quickly turned into a spiral which eventually concluded with me picking up trading and ever since then I’ve been doing that pretty much full time. After so many years though, I figured there must be a better way to trade, especially in a market that works 24/7 so that led to Orka Labs which is an algo trading fund. Right now, we are testing an average of 200M new strategies every month and we are in the process of increasing that.
After Orka Labs picked up we were able to relax a bit and so we turned our attention towards offering a similar way to trade to other people as well. To some extent, we really think that at the very least for markets that are live 24/7 algorithmic trading will become the new norm. After all, we’ve been aware for years now that automation will slowly become embedded in our system. Time has come for the same to happen in trading too.

Mary | Satoshi Club: 2013, mining:joy: you are lucky man) btw, is this orkalabs site? https://www.orkalabs.com/

Dragos Lipa: yes, that’s the website. yeah I have been around for quite a while now. You can also access our YTD trackrecord there

D. | Satoshi Club: what is YTD?

Dragos Lipa: Year to Date. And that amount is in BTC. Basically our profits in USD are around 500% at the moment from the beginning of the year

Mary | Satoshi Club:

So, Bot Ocean is something like continuation of orkalab?)

Dragos Lipa: It’s more than that. Bot Ocean gives everyone the ability to do what we do at Orka Labs without knowing how to code.

Lorena Tincu: It can be seen as an extension of Orka yes. While Orka is aimed more towards institutional investors whereaa Bot Ocean is aimed towards normal people.

Dragos Lipa: Exactly. We aim to be the bridge between people that don’t know how to trade and industry proffessionals.

D. | Satoshi Club: is it safe to trust bot? 🙂

Dragos Lipa: In my opinion it’s way safer than trusting a human to do it. Just think about it, a bot can watch the market 24/7 and look for the exact opportunities that you would look for as a human. The only difference is that by going with algos you don’t have to worry about emotions

D. | Satoshi Club: im asking because im from the ‘normal’ people who don’t know how to use trading bots 😀

Dragos Lipa: We will provide the infrastructure so people don’t have to worry about technical problems, we will take care of that.

Q1 from Telegram user @mark_mitroglou

I can use your services by connecting them through API to my exchange accounts. Explain how safe is this. Is there any possibility to compromise my exchange account?

Dragos Lipa: Yes you just need to connect your exchange account to our platform through API keys. No, there is no way to compromise your exchange account other than if your 2FA and mail get hacked.

D. | Satoshi Club: do you have a guide how to connect?

Dragos Lipa: Yes, the UX will be really smooth, everything will be explained once you first log in on the platform. Besides we will have informational videos about all the features that we offer.

Mary | Satoshi Club: But there is a way to hack API and make market manipulations with price?) And this will also lead to losses.

Dragos Lipa: No, there is no way to hack the API en-masse

Mary | Satoshi Club: Ok, i will believe you)

Dragos Lipa: We take security very seriously, we have an expert on our team. As we have a security expert on our team, the code of the bot will be reviewed in detail. We will also do a 3rd party private audit on our backend code to make sure we haven’t missed any vulnerabilities. On top of that, all of the instances of the bots will be dockerized(sandboxed), so in case of a breach, the attacker will not be able to escalate privileges and access the rest of the platform.
And to give a bit more info on our security expert, he’s a member of a top global CTF team (no.2 in the world in 2019), has developed his own pentesting challenges in web, blockchain, and even quantum coding and in addition to this, he even won several competitions including DefCamp for 3 years in a row, which is the most important annual conference on Hacking & Information Security in Central Eastern Europe. We take security very seriously.

D. | Satoshi Club: you can’t tell his name now?

Lorena Tincu: He is on our website actually, he’s called Tudor

Mary | Satoshi Club: Greetings to Tudor🙂:+1: I think with him you will have strong security 😉

Q2 from Telegram user @kaidera

The utility of the token is important. I have seen several features on the website. How about the discount on transaction fees and the discount on different strategies? What are those fees in general and what will be the discount?

Lorena Tincu: The discount depends on various things, and it goes up depending on specific volume and other such details. Additionally, the token also gives access to various exclusive features such as reports from Orka Labs periodically and early access to new features and updates.

Mary | Satoshi Club: Do you have different plans for your users?

Lorena Tincu: We will be releasing the Whitepaper this week which goes into detail about how the various mechanisms work.

Mary | Satoshi Club: Thanks🙂 Waiting for your updates :+1:

Q3 from Telegram user @b_dima

You have mixed the right features to outpace any human trading strategy and test it against massive historical data. On what is your data based? Why do you think it’s better than other similar trading bots?

Lorena Tincu: Our backtesters are built from the ground up and the backtesters show a level of accuracy of 5 decimal points, in other words it is has a precision 99.99999% when compared to the live data.
Now this is how strategies and bots are tested in order to have a good idea of their overall potential performance, but you have to understand that everyone will be able to create their own strategies. It’s true though that at the beginning we will be offering some free strategies from Orka so people can start using it directly.

Mary | Satoshi Club: Will it be hard? To create my own strategy? I know, that i don’t have to code, but which basic knowledges i will need to have?

Lorena Tincu: The interface will feature a drag & drop interface where people can select indicators and connect them to one another with conditional statements, thus making it zero-code and well quite easy to use to be perfectly frank.
So to answer your second question, you simply need to be familiar with technical analysis and how trading works in order to connect indicators in a logical way that generates consistent results.

Mary | Satoshi Club: It’s clear:wink: I think i want to try:joy:

Lorena Tincu: Haha sure we’d be glad to see you there 🙂

Q4 from Telegram user @alex_satang

I tried to find the list of exchanges that you are supporting at the moment but couldn’t find it. Can you tell us with what exchanges does your product work and what others will it support in the near future?

Dragos Lipa: We have a pre-register form on our website botocean.com where you can select which exchanges you want us to add. But for sure we will support the big ones right from the beginning.

D. | Satoshi Club:

will you be expand the list of supported exchanges?

Dragos Lipa: If we have a request to add an exchange we will obviously add it, this is not a concern.:smile:

Mary | Satoshi Club: I just wanted to ask about DEXs and CEXs:joy: I see, you have a nice choice) Btw, can you tell us how much money approximately do a person need to start trading using trading bot?)

Lorena Tincu: As for the minimum, there isn’t one. It should obviously be higher than the cost of the trading fees themselves but that’s it.

Q5 from Telegram user @vir_leroy

How is the pool of traders from which you can copy trades formed and will this traders earn % from each trade I will make using social trading?

Lorena Tincu: Any strategy creator can choose to publish his strategies. All strategies are tested with the backtester and given a rating score in addition to some more minute details that individual users can check out.
The strategy creators do earn a percentage of all the transactions you make while copying their strategies, yes. Similar to eToro.

D. | Satoshi Club: since the question about earn some %…will you have an affiliate program?

Lorena Tincu: That is an option we are considering but we will be releasing the exact details of this a bit later.

Mary | Satoshi Club: You will be decentralised eToro)

Lorena Tincu: Yeah that’s a pretty fair comparison

Q6 from Telegram user @Okkk0p

On your roadmap, in Q2 2021 you stated that you will be “preparing necessary license for custodial investments”. Tell us please what is custodial investment and in what jurisdisctions will this license be valid?

Dragos Lipa: This license will be valid in all EU states to begin with, as we grow our user base we want to add more services to our offering.

D. | Satoshi Club: and what is ‘custodial investment’?

Dragos Lipa: We meant that users will be able to hold funds on our platform directly. At the moment we are non-custodial, meaning that users only connect their exchange account to our platform. they don’t hold funds with us directly

Mary | Satoshi Club: Will it be accessable for USA citizens?)

Dragos Lipa: This is something that we will decide later on, right now we are focused on launching a first version of the product in Q1

Mary | Satoshi Club: A lot of work to do or it is almost ready and tested?)

Dragos Lipa: It is around 90% done, we have been working on it for some time now

Mary | Satoshi Club: It’s closer to ‘ready’:joy: Wish you successfull launch :+1:

Part 2 — live questions from the Telegram community

Q1 from Telegram user @nzikak

Can you give an estimate of the expected returns obtainable from using your trading bots?

Dragos Lipa: It all depends on the strategy that the bots will be trading. To give you an idea we did around 500% at orka labs this year until now. We will make some of our strategies available on botocean right from the beginning so users can start earning right away

Q2 from Telegram user @thaiquoc

There are many people who need to look at the whitepaper to know the project’s features. So when will you release the whitepaper and its benefits?

Dragos Lipa: We will release the whitepaper next week. Join our group and stay tuned for that

Q3 from Telegram user @Idee01

How is Orka Labs related to Bot Ocean? In your article, you mentioned putting up some Orka strategies for users to learn from. Can this strategies help improve trade decisions for me and my friends when we apply them?

Dragos Lipa: By using our strategies you won’t need to do anything anymore, other than monitor your account. The bot takes the signals and trades based on them.

Lorena Tincu: Orka is a company owned by the same team behind Bot Ocean and it is simply our institutional grade solution. We will be offering strategies from Orka that users can either use to learn / get inspired or simply copy them consistently. And yes, I think they can help people.

Q4 from Telegram user @BboyForteVZLA

do I need to pay for a membership to be able to access your trading bot?

Dragos Lipa: The access to the platform will be free, but in order to place trades using the bot you will need to pay a subscription.

Q5 from Telegram user @xitrump

In your website, I see Bot Ocean is doing a survey “What exchanges are you using for trading?”, so what are your main purposes for this survey and are there any unique features be integrated for chosen exchanges?

Dragos Lipa: We want to figure out which exchanges most of our potential users use so that we can integrate as many of them as possible for the launch.

Q6 from Telegram user @CryptoZaratustra

Bot Ocean has a partnership with Hyve. How does this tailoring contribute to Bot Ocean’s success? What are you basing on when choosing partners?

Lorena Tincu: We’ll be allowing HYVE users to use Bot Ocean strategies while also allowing Bot Ocean users to request the development of a particular indicator or other necessities by making a task on HYVE.
We usually make partnerships with teams that share our overall vision and where our products can collaborate in some way.

Q7 from Telegram user @Pratze

I read in your TELEGRAM, that you have no plan in listing token to UNISWAP Or other exchanger. Could you please tell to us the reason?

Dragos Lipa: We will list on uniswap.

Q8 from Telegram user @Yulafciyildiray

What kind of benefit does Botocean offer users who use bots for trade?

Dragos Lipa: We offer a reliable infrastructure so you don’t have to worry about technical problems, only about the algorithms themselves.

Q9 from Telegram user @Giniwhite

What are the advantages as a non-custodial platform? how efficient is the bot on Botocean? Is there any informative material to guide me to use the bot?

Lorena Tincu: We are never in posession of funds which removes the necessary trust component. The strategies on Bot Ocean will have different levels of performance, the users can choose whichever they like best.

Q10 from Telegram user @Idee01

So many risk are associated with crypto trading and most crypto users are afraid of exposure to these risks. With Bot ocean, I can earn BTC while your bots do the job. So how reliable are your bots? How fast do they execute orders and cut losses?

Dragos Lipa: It all depends on the strategy that they are using to generate signals. Depending on the risk profile of the user he can choose accordingly from the marketplace

Q11 from Telegram user @AmitGoyal1444

When will we can expect launch of Beta, and how will we access to it??

Dragos Lipa: Beginning of Q1 2021, just pre-register on the website now and you will have exclusive access to the beta

Q12 from Telegram user @Sallubtc

I trade manually always so can you give me reason that why should i go for bot trading?

Lorena Tincu: It’s physically impossible for a human to outperform a machine. Turing proved this in the second world war when even the most basic computer was able to outperform some of the brightest minds alive.
This is especially true when we take into consideration the large amount of information that is analyzed in order to make a trade decision. Furthermore, a bot has no delays nor any emotional feelings. It simply does what it’s programmed to do, without having an opinion about it.

Q13 from Telegram user @cryptolover1010

BOT token currently relies on the Ethereum platform- But, as we know ERC20 Blockchain currently has many scalability issues – Then . What’s the main reason behind choosing Ethereum, not other blockchains?

Lorena Tincu: Ethereum just released the ETH2.0 deposit contract in the last few days, so the scalability issue of Ethereum will become much smaller as time passes. Furthermore, Ethereum is by far the most comprehensive ecosystem as things stand right now.

Q14 from Telegram user @Emidm37

Will there be a discount fee for all those users who hold the Bot Ocean token? Do you offer benefits and advantages to all holders?

Dragos Lipa: Yes, there will be a significant discount if you pay using our token. All token holders will benefit from the advantages.

Q15 from Telegram user @konditer_rolex

It will be very interesting to try yourself as a shipbuilder in your Ocean. Can I test my ship before sailing? Can I use the help of experienced shipbuilders? What tools are provided so that inexperienced captains do not sink their ship on their first voyage

Dragos Lipa: We will have paper trading available so you can test your ship before sailing:smile:

Q16 from Telegram user @Okeesha_Vinula

What are you plan For Non-crypto peoples to use your platform?

Lorena Tincu: If eToro was able to attract crypto users to a non-crypto platform we believe we’ll be able to do the same. Now leaving jokes aside, we are first and foremost a platform where users can for the first time make an algorithmic trading strategy without the need to code. Even TradingView lacks this feature, so I believe there will be quite a few traders interested about this, especially as the overall population starts becoming more educated in regards to personal finance.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Bot Ocean. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1400$.

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:

Bot Ocean Community: https://t.me/botocean

Fun creates enthusiasm and energy. Satoshi Club is always full of this emotions and its guests as well. Today we would like to tell you about the AMA session with our friends from Dopeswap. The AMA took place on November 05 and our guest was The Dealer, CMO of Dopeswap.

The total reward pool was 800$ and has been splitted in 3 parts.

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello,Satoshi Club! We are happy to announce our AMA session with Dopeswap! @TheDopeDealer welcome to Satoshi Club:grinning:

D. | Satoshi Club: Hello Satoshi club! @TheDopeDealer hello and welcome!

The Dealer: Hello everyone, Firstly I want to thank you for giving me the chance to present our project to a broader public 🙂

Mary | Satoshi Club: And thank you for coming here) i think public need to know about Dopeswap 😀

The Dealer: Thanks, I will be happy to explain all the details about our project 🙂

Mary | Satoshi Club: Could you, please, tell us more about yourself and your background and of course about Dopeswap:+1: Some kind of intro:wink:

The Dealer: Sure. I am the CMO of Dopeswap. I’ve worked with many crypto project’s as a marketer but I would like to save my Anonymity .
Dopeswap aims to become a DEFI project that connect most of the DEFI Ecosystem.
Right now we already have a yield farms working.
We are going to introduce AMM DEX , Vault, Delegated Vault , Governance until New Year. We will share the rest of our plans when our New Roadmap is out. That will happen after New Year

Mary | Satoshi Club: It will be present from Santa for your members?)

The Dealer: Haha yeah, Thanks that a great Idea dough 🙂 So we already have a date for the New Roadmap 🙂

Mary | Satoshi Club: Can you share this date with us?)

The Dealer: 25th of December

Mary | Satoshi Club: as i told it will be delivered directly under New Year Tree:joy:

D. | Satoshi Club: nice Christmas gift:innocent:

The Dealer: Yes new Roadmap from Dopswap 🙂 The new roadmap will be bigger and even more ambitious

Mary | Satoshi Club: Ok, how did you understand that world needs Dopeswap?)

The Dealer: Well the thing that caught us is that most of the DEFI projects have a huge inflation and no Deflationary Features. We believe that in the world of finance is not sustanable.So we decided to present a DEFI project that have Inflationary as well Deflationary Features What is more we believe that in the future people will need to use one platform for everything of the DEFI ecosystem

D. | Satoshi Club: yes, it would be very convenient – all DeFi things in one place

Mary | Satoshi Club: And what about market competition?:wink:

The Dealer: Well we believe that we are still really early in the space. So if we work hard when mass adoption comes we will be way more prepared. Yes there is a lot of competition. Right now we are aiming to become an AMM DEX. We see really big competitors in UNI and Sushi. Anyway their token holders suffer really much. Their super Inflation is killing their token as well as APY-s. Which will at some point make the LP- providers search for a better place for their money. As you know everything is about Liquidity in DEFI. We believe that if we can keep the supply relatively stable the Price will grind higher which will make the APY-s go higher. That will of course bring more LP providers to our platform

Mary | Satoshi Club: Well, so you have tremendous incentives to develop something incredible:wink: and the world of DeFi will be yours)

The Dealer: We don’ think the world of DEFI will be only ours. It’s main idea is decentalisations. So there will be a lot of platform succeeding. Right now the people who are in DEFI are maybe below 200M. What happens when another 200 comes?

Mary | Satoshi Club: Can’t even imagine 😃 It will be crowded here)

The Dealer: Yeah.. So there will be a lot more platforms needed. What is more in the future we believe there will be cross platform protocols.

Mary | Satoshi Club: Right, as in 2016-2017 we had just some exchanges…

The Dealer: Yes… And when the big Boom happened around October-December 100 new exchanges opened. Coinbase and Binance wasn’t accepting more customers..

Mary | Satoshi Club: Yes🤦 i remember this. Everything was overloaded. I think after BTC pump we can have new altseason and possible we will see those 200m more. And it will be your time to take the stage:wink:

The Dealer: I believe even more than 200M. The DEFI party is just starting :)Yes that’s why we are constantly building our platform and we are fully open for community suggestions. I fixed like 3-5 Bugs on our UI on their suggestions. They wanted TimeLock – one day after that the contract was ready and deployed. So we will be ready when that time comes

Mary | Satoshi Club: You will) sure, our AMA will bring new community members to your group and you will have new suggestions 😉

The Dealer: That’s what we want. You know a good platform is built with time. We are always open for suggestions

Q1 from Telegram user @michaelaelf

Dopeswap will make swapping all tokens on the ethereum network as easy as buying some dope on the alleys of Amsterdam. When I read this I thought: have you made an audit and everything is alright? Because if vulnerabilities are found and people will loose money, then it will be like smoking a bad dope on the streets of Amsterdam 😀

The Dealer: Hahaha 😀 Well we haven’t audited the contract yet. Anyway our team of 3 Developers have tested it for months and haven’t found any issue. We will be doing an audit really soon. Already connected many companies and we are discussing their offers. What is more today we deployer a TimeLock Contract. Every Transaction for the DopeDealer contract will take 48 hours. More than enough time to withdraw all the funds.But Audits are first on the Checklist

Mary | Satoshi Club: Can you explain in details?)

The Dealer: Many people from the community was scared because we didn’t have timelock. As you may know we have 25 hours vesting for the NON-DOPE pairs. So there was a little panic that our Key’s might be compromised and the funds Drained why no one can withdraw their money. Anyway we deployed a Smart Contract that is the Owner of the DopeDealer contract. The TimeLock contract have 48 hours pending transcation before it get executed. So if something wrong happen (like compromising our keys) people will have 48 hours to withdraw their money. Anyway in the future we will do a MultiSig wallet. When it comes to audit it’s really needed ofcourse. There always can be a backdoor in the contract and we want to make sure that all the funds are safe

Mary | Satoshi Club: Thank you:+1: i see, that you really care about your users)

The Dealer: We are community driven project. If the community don’t like what we are doing we can even transfer the keys to a better developer. That would be possible after the governance of course

Mary | Satoshi Club: Democracy and desentralisation:grinning:

The Dealer: Yep. That’s what Dopeswap is all about 🙂

Q2 from Telegram user @batrud

You have raised only 8 ETH in presale and 2 ETH in public sale. That’s roughly 4000$ now. It’s a low amount. How do you plan to be sustainable with this money?

The Dealer: Firstly we were planning to do a FairLaunch on uniswap. Anyway we decided to do a small symbolic presale to raise some awareness as well as bring some good developers,marketers and community managers in the team. We are really against all the greed in DEFI space. People raising 500 ETH for nothing. Our bussiness plan is explained in the Treasury section in our whitepaper. I will try to explain it with some words. After the Migration our TEAM LP Tokens(Initial Liquidity) will be locked in ETH/DOPE pairs. The rewards will go in the same manner. 80% to Staking pool. 10% to Marketing Fund, 10% to developer fund. So actually that’s our business plan

Mary | Satoshi Club: You know, it’s really seldom) Usually everyone wants to raise as much as possible

The Dealer: Yeah we don’t get that. Giving people so much money without having anything done.

We have some Team Tokens which if we succeed to do what we want , they will be worth a lot. And then we will get our reward

Mary | Satoshi Club: It’s logical and honest 😀 hope you will get the best reward later for your work

Q3 from Telegram user @madkaren

I have read that you plan to become one of the leading DEX in the market by applying new features when compared to Uniswap. What new features do you plan to apply and why do you think that I should leave Uniswap for Dopeswap?

The Dealer: Well in DEFI space it’s all about the liquidity. So if we can attract enough Liquidity at some time it will be more affordable to trade on Dope than Uni. The Deflationary Features are what will make our APY-s bigger than theirs. As you can see UNI is going down and down. So the APY-s are going down too. At some point it wont be affordable for LP-s to stay there. Our token will stay relatively stable (Inflation-Deflation). We have Floating Burn Rate which will be decided by our Governance, 0-5%. We are not saying that we will take any liquidity from Uniswap Anytime soon.

But no one though that Binance can anyhow replace Bittrex at the times

Mary | Satoshi Club: It’s circle, no one thought that Bittrex will replace Poloniex)

The Dealer: Yep there is a place for everyone. Even though we don’t become a Leading Exchange there still be a place for us in the future 🙂 What is more our platform wont be all about the DEX

That’s just the first step. We are up to Vaults Strategies, Delegated Vaults and many more products to come.

Mary | Satoshi Club: We will see more on 25th December)

The Dealer: Yes. Also we will release rest of the product on our recent roadmap until then

D. | Satoshi Club: how do you plan to bring more liquidity on your platform?

The Dealer: With better APY-s

D. | Satoshi Club: and of course i should ask – any plans on NFTs?:sweat_smile:

The Dealer: Haha we know that’s a huge tendency in crypto right now. Anyway we don’t have team big enough so that someone spends his time with NFT-s. You may now that to make one NFT-s you might need a lot of time. For now we have way more work to do to fulfil our roadmap. But in the future- you never know 🙂

Q4 from Telegram user @daviessss

Your initial supply is incredibly low compared to other projects. How did you come with this number? What’s the logic behind it?

The Dealer: Well our main Idea was to many a Scarce token, However the numbers doesn’t really matter. It’s all about our token metrics, mint rates and burn rates. We believe that our metrics are great. There is not a logic behind the number. We just liked 1000 🙂 It’s simple and rounded 🙂 Our main goal is to succeed to keep the Total supply around that number. At some point when the Minting and Burn rate goes nearby 0 the Total supply will stop at 1000

Mary | Satoshi Club: But, to be honest, you knew that this numbers will be like a magic) please, at least it’s great marketing step)

The Dealer: Yes in the recent months of crypto we saw a tendency that people loved project with really low circulating supply

D. | Satoshi Club: haha yes true

Mary | Satoshi Club: And low numbers do not affect the quality of the project, but, i see that you are to delivering both)

Q5 from Telegram user @max_serbov

There is a section on your website called “coffee shop”. Could you explain what will it’s role be?

D. | Satoshi Club: https://dopeswap.org/coffee-shop/

The Dealer: Well actually that is our Yield Farm. We decided it would be interesting to name it like that 🙂

Mary | Satoshi Club: Yes:joy::joy::joy: Nice menu)

The Dealer: Right now we have 6 on the menu. But soon we will add more 🙂 So stay tuned. We will have everything for everyone soon 🙂

Mary | Satoshi Club: I like mushrooms:joy::joy:

The Dealer: We have some of these 😀

D. | Satoshi Club:

The Dealer: We will be doing it soon. The past two days were really busy for us. So we didn’t have time for almost anything

Mary | Satoshi Club: Alcohol lovers are lost in the space of dopelovers))))

The Dealer: Yeah… We are not into alcohol too but you know.. There should be something for everyone 🙂

Mary | Satoshi Club: Do you plan to expand your menu?)

The Dealer: Yeah sure. We are planning to add few more in the new future. People in the community are asking for Meth and Crack. Even Walter Wild offered his offers in the chat :)He told us he have a good meth for sale :joy:

Mary | Satoshi Club: I am asking for Whiskey :joy_cat: I am so conservative :joy:

The Dealer: Ahh… We will put some Whiskey specially for you

Mary | Satoshi Club: Thank you) i will be proud:joy:

The Dealer: You are welcome. We will try to please all our customers 😂

Q6 from Telegram user @alexeimaruta

I see that a lot of vesting periods will happen for different funds or actions (like voting). Are this vesting periods included in a smart contract that is public?

The Dealer: We still haven’t released our Governance Contract. Yes they will be included. The reason to make a vesting on the voting is because many bad actors can manipulate the votes. For example buy some coins ,vote something which is bad for the project and than dump it. So in that way no one would like to risk his money just to ruin our project. The vesting period will be for the only for the people who Vote. It will be 15000 blocks which is approximately 50-54 hours

Mary | Satoshi Club: Can you give a simple example?

The Dealer: For example someone (who want’s to buy cheap DOPE) can propose and vote for the minting rate to be raised to 0.5 for 1 week. After the vote is passed he immediately dumps his holdings which will even more affect the price. After that week is done he will be able to buy DOPE for a pennies. So with that vesting if he votes for that his money will be locked in the staking pool for some time. Which means he will loose his money. What is more he needs to be a whale to succeed with that vote. There will be a quorum needed

D. | Satoshi Club: good mechanism

Part 2 — live questions from the Telegram community

Q1 from Telegram user @AugusS7

Could you really explain the Dope Swap motto “You should put your pink glasses on”? How is this related to an exchange that provides great initial liquidity?

The Dealer: That’s another marketing joke from our team. As you see there is a little “pink glasses ” on the unlock button. So you will not be able to see anything about the site until you put the glasses:) (Putting pink glasses on usually mean getting high)

Q2 from Telegram user @leixagarcia

– As I see in your Whitpaper Dopeswap will not have a fixed token burn rate, but variable. It is unusual to see this, what advantages does this burnout strategy offer over the price of the token? Will it be like this forever?

The Dealer: This gives us a control over the inflation of the token. In the beginning the Burn Rate will be decided by the team. We have a good financial adviser . Later on the Burn Rate could be voted on our governance page too

Q3 from Telegram user @Jonahapagu

Dopeswap aims to become the leading AMM Decentralised Exchange and in line with this You plan to Migrate to your native Exchange on 17th November.. but on your Github you have only two repositories which are the “dope dealer contract” and “dope token contract” repositories both built on Ethereum with I’m interested in knowing how far you have gone in preparation to release your DEX, why is there no Github file related to the project you are building.. so users can see for themselves what you are building.

The Dealer: Right now we are still testing our Migration Contract on our own testnet. We haven’t made it public on our github. When it comes to DEX the code will be forked out of Uniswap.

Q4 from Telegram user @lahkoklu

What goals is the Dope Swap project trying to achieve itself? what about the exchange fee using ETH which we know this fee is very expensive, what is the response to DopeSwap itself.

The Dealer: We believe that in really recent future the problem with fees will be solved. As you know the ETH2.0 is announced to com in december

Q5 from Telegram user @Jonahapagu

Dopeswap is adding a few features, which will make the token’s price more stable and significantly increase the APYs.. one of which is the “Floating Transaction Burning Feature” Can you explain what this is and how it works

The Dealer: Floating Burn Rate will try to keep the Total Supply of the token around 1000. In the beginning it will be impossible because of the big Mint/Block rate. Anyway by the time the Token Supply will stay around 1000.. 1000 Total supply will increase the price which actually will increase the APY-s. In some way you can think of it like taking floating tax of the traders and giving it to the actual users and LP -providers

Q6 from Telegram user @Mickey0555

What makes Dopeswap different from this community and what’s the value proposition for a crypto investor to be on Dopeswap over them?
What are the main utility and real-life usage of the $DOPE token
Could you give me 3 key points to convince angel investors invest in $DOPE in long-term?

The Dealer: Well as you know DEFI space is really innovative and risky place. So as an investors I will tell you don’t put more than you are willing to loose completely.
Anyway at some points the big Investors will understand that for providing liquidity you can create new assets. That really new and interesting concept.
We believe that in the future more institutions will come in DEFI space too as happened with Bitcoin
1- Holding Dope will give you a chance to Stake it and Earn some Yields.
2-Gives you a chance to participate in the Governance
3- You will need dope to use some of our coming products. (like if you want to make a Vault Strategy you will need to pay a certain amount of DOPE)

Q7 from Telegram user @kaito080

Currently, there are many potential cryptocurrencies like Balancer and Uniswap that will go head to head with DOPE, so what new breakthroughs are needed for DOPE to gain a foothold in the DeFi platform?

The Dealer: These are great platforms . Anyway as you know everything is about Liquidity in DEFI. They token models give’s a slowly decreasing APY-s. LP looks only for APY-s. Dope will give them a bigger APY

Q8 from Telegram user @AmirJosh

There is no mentioned about Slippage on your website and on the medium articles that I read. Is this function not present on Dopeswap DEX Platform or I just missed the portion explaining about it?

The Dealer: Yes in order to buy DOPE token you need to increase the slippage at least to 3%. Thats because of the burn rate .Thank you for the reccomendation. We will do it after the AMA

Q9 from Telegram user @Alika061

staking on #DopeSwap with what tokens are good and profitable pairs? and is there a way for beginners to follow staking and farming.

The Dealer: Right now our biggest APY-s are on the DOPE pairs . That measure is done so that we can succeed to keep the price stable ( as well as APY-s). The APY for staking is around 1600%. ETH-DOPE pool (around 3500%)

Q10 from Telegram user @DiegoRME

Are there any members of your community who are active and show interest in your project who can be part of your team?

The Dealer: Yes we are open for new members in our team. Actually during our Presale we welcomed . 1 Solidity Dev , 2 WEb integration devs and 1 bug tracker, as well many marketers. That was the main idea of the Presale. So you if have something to contribute to our project ,please feel free to contact me.

Q11 from Telegram user @Erol1763

my question is do you have users and partners who actually used your service yet ? What is the competitive advantage your platform has that you feel most confident about ?

The Dealer: Yes we have many users who are already farming . Actually the TVL(Total Value Locked) is a lot more than our Market Cap.

Q12 from Telegram user @Idee02

Can I be a market maker with DopeSwap in your DEX? Why did you choose AMM over Professional Market Maker, despite the limitations of AMM?

The Dealer: With a market maker at the back it wouldn’t be a DEX. It will have a centalized entity . What is more we saw what happened to orderbook DEX-s in the past…

Q13 from Telegram user @tsumannis

Through which non-custodial wallets can we currently access Dopeswap? At least Metamask did not work for me.

The Dealer: We are currently supporting Metamask,Trustwallet,Portis,Torus,Formatic and Burner Connect. There will be more walet’s to come if our community ask us. If you have problems with Metamask just PM me so we can fix it .

Q14 from Telegram user @Kevinliliana

What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

The Dealer: Yes the community is most important for every project. We just launched and we are happy that we got really big attention at the beginning. Also we decided to reward our early members of the community with Early LP incentive

Q15 from Telegram user @BERTA2020

Where can I buy your $DOPE token to participate in your farming / Staking system?

The Dealer: Right now $DOPE is listed on Uniswap.org. After that you can easily use our Website to join the Staking/Farming. Here is a link : https://app.uniswap.org/#/swap?outputCurrency=0xBfEC1b4C9398600fe2cbc918d500E494aef3e6F5

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Dopeswap. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1000$.

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:

Dopeswap Community: https://t.me/DopeswapOfficial

At Satoshi Club we continue to educate our community and giving great rewards for it. So, today we would like to tell you about the AMA session with our friends from Uniris. The AMA took place on November 3 and our guests were Akshay Kumar and Nilesh Patankar.

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Uniris! @nileshvp @akshaykumarkm9 welcome to Satoshi Club. 😀

Nilesh Patankar: Thanks you, happy to be here.

Akshay Kumar: Thank you.

Mary | Satoshi Club: Welcome here… could you please introduce yourself and tell us about how did you start with Uniris?

Akshay Kumar: I am responsible for the R&D of Uniris blockchain and biometrics, as you know Uniris has 14 strong patents around this. I was introduced to crypto during my master studies at Ecole Polytechnique, Paris in 2016-17. I joined Uniris straight out of college.

Nilesh Patankar: Hi, I have been in the payment industry for over 2 decades. I used to work with MasterCard earlier. I started discussing this idea with my friend Sebastien in early 2016. We were both intrigued by the bitcoin concept and the elegant solution. It was so interesting to see the application of Mathematics in a distributed P2P trustless ecosystem. The codifying of rules to govern systems without centralized management was almost a utopian state devoid of malice and greed. Our first thought was to apply this concept to create a P2P decentralized marketplace. We started looking at possible base layer like Ethereum to provide the solution but we quickly realized the shortcomings. It was impossible to imagine a marketplace powered by a blockchain that could ONLY scale up to 25 transactions per second. The next stumbling block was adoption. The blockchain ecosystem is so esoteric in nature that it’s adoption is limited to tech-savvy “nerd” segment. This thought became evident when Sebastien tried explaining the concept to his grandma, who was unable to fathom the whole private key management aspect. We realized that the adoption would only be possible through simplicity of use and if adoption was successful then scalability to manage the growth was of utmost importance. That is when we decided to create our own blockchain, that provided scale and a biometric solution, that simplified access and private key management.

Mary | Satoshi Club: How has your vision changed in 4 years of working on the project? Did you find something new, that you will add or discover something that you are not able to change now?

Nilesh Patankar: As I mentioned earlier our vision started with decentralized marketplace on an available blockchain but then we created our own blockchain. We also did lot of research in the crypto biometrics space to create our unique solution. This resulted in a strong identity based blockchain system. Lot of innovation has gone into every layer for providing the scale and security. We also found some shortcomings in the smart contracts design that were prevalent and vulnerable. We did a lot of work in that area too.

Akshay Kumar: Yes, blockchain has been prone to 51% or 66% attack based on the consensus protocol and there is no new research in this space that takes it to the next level. At Uniris, we have built a new consensus protocol called ARCH that is able to handle even 90% maliciousness.

This is something, that will revolutionize the blockchain space.

Q1 from Telegram user @Jmagsss

Uniris consensus uses the ARCH consensus or Atomic Rotating Commitment Heuristic, this is the first time I’ve heard about this type of consensus, were you the first one to innovate this kind of consensus and integrate it to your blockchain or you had some idea based on other types of consensus?

Nilesh Patankar: We were the first one and once we wrote the design we got it reviewed by academics/researchers. The base idea was to provide scale without compromising security. A lot of Maths and simulations went into creating the final design. This is a step away from PoW or PoS.

Atomic Commitment is the form of “absolute” consensus that implies 100% concordant responses for the acceptance or refusal of the transaction validation. Heuristics is the set of algorithms, softwares and parameters that manage the entire network, allowing the network to elect in a decentralized and coordinated way the nodes in charge of validating and storing transactions chains.

Rotating the network being fully distributed (no central or privileged role), the nodes elected for each operation are constantly changing so that no node can predict which nodes will be elected until the transaction arrives. In other words, ARCH makes it possible to obtain universal consensus from a small part of the nodes. This is proven using hypergeometric distribution laws. It is one of the core concepts that lead to scalability and security.

Mary | Satoshi Club: The math here is a bit tricky 😂, but you can give 3 examples of why your consensus is the best? Or is it the best only for Uniris’s solutions?

Nilesh Patankar: Here are three reasons why: Security – Manage 90% maliciousness without compromising the truth, Scalability – Near linear horizontal scalability which means given enough nodes we can scale to million txn per sec, Sustainability – 3.6 Billion times less energy consumption than Bitcoin, 0.1% average transaction costs 60,000 times less than EOS.

D. | Satoshi Club: And what advantages does this consensus offer over other consensus algorithms?

Nilesh Patankar: Ability to handle 90% maliciousness is well above other consensus algos like PoW or PoS, similarly scale is well above the prevalent processing abilities around 25 txn per sec and energy consumption is well below other algos since the whole network does not participate and pause for processing one block.

Q2 from Telegram user @AmirJosh

Uniris was awarded the label for the management of secure access for the Paris 2024 Olympic Games. What is your contribution and part of the upcoming 2024 Olympic Games? Will you be providing assistance to the famous event?

Akshay Kumar: The platform has been certified by the French Strategic Committee of the Security Industries Sector (CSF) with the aim to identify solutions that can contribute to the security of major events such as the Paris Olympics 2024. For the next 5 years, Uniris would have an opportunity to provide secure access for various global events in France. Our first pilot was supposed to be at this year’s French Open Tennis tournament (Rolland Garros). We were planning to provide bands that would provide access to the arena and other secure zones for spectators and players respectively. The access/authorization information would be securely stored on the blockchain.

As you know due to the corona pandemic the event was postponed and all experiments were halted for this year. Similarly, for the Olympics we will design a secure access system based on our blockchain. Spectators, players, team management, security personnel and others would get relevant access to relevant zones based on their authorization.

Global event management means Uniris blockchain would potentially add a minimum of 10 MILLION USERS due to the Olympics alone. Imagine the network effect!!!

Mary | Satoshi Club: Which kind of security and identity you will provide? Can you explain in details?

Nilesh Patankar: We are providing security using crypto-biometrics. This is very different from scoring biometrics. We generate private keys on-the-fly using the biometric information and the private keys are used to unlock the associated asymmetric keys. That way it is like zero-knowledge-proof, we do not store any key information. In scoring biometrics, a pattern has to store for comparison later. The identity is totally decentralized and we have something called identity chains. Each user will have an identity chain. The identity is self-sovereign.

Complete control over your own data and how you monetize it. Good bye to surveillance capitalism.

Mary | Satoshi Club: Oh, it’s so interesting) i will wait for 2024. 👍

Nilesh Patankar: You will see it working before that even during Rugby World Cup 2023, Paris.

Mary | Satoshi Club: It was some kind of competition to provide this access? Sure, you were not the only one who wants to provide this for such events?

Nilesh Patankar: Yes, we went through multiple rigorous rounds of interviews with French CSF and Paris Olympics committee. It was a jury based selection. We were the only blockchain solution to be selected.

Q3 from Telegram user @JesusFre1tes

Many of the mobile devices are not yet adapted to advanced security systems such as the fingerprint reader. What is UNIRIS’ proposal in this regard to solve all the limitations that may arise and make all users part of its platform? Will the fingerprint be the only security mechanism?

Nilesh Patankar: We have ability to use the captive solutions provided with the mobile devices. So we can integrate the private key generation with available solutions. We will also be industrializing a device that can be used at the points of access to use the native crypto-biometrics of Uniris. The mechanism is primarily finger vein or they can always use usb keys and other available key management solutions.

Mary | Satoshi Club: I have one question – are my fingerprints the only way for access? If something will happen with my hands will i be able to prove my identity?

Akshay Kumar: The biometric device takes into account two of the three measurements

• Finger print
• Ultrasound of the internal venous network of the finger
• Spectroscopy of the finger

If anyone is damaged, the other 2 measurements can still authenticate the transaction. Moreover, the biometric device is able to learn any morphological changes that may occur.

D. | Satoshi Club: But what about people with disabilities? if person has no fingers?

Nilesh Patankar: During initial key generation we take all fingers into account so there is always a backup but loss of limb will require usage of pass phrase that will help in regeneration through deterministic wallet algorithms. So there is always an option to use the wallet recreation.

Q4 from Telegram user @ireneLSL

From your whitepaper, “with the ARCH consensus, only 295 miners are needed to offer the same performance as the Bitcoin network, which has ~ 100,000 miners”, and in your example you are using an intel NUC i3, what will be the realistic requirement and stakes needed to run a mining node? How profitable is it to operate a node?

Nilesh Patankar: Yes Intel NUC i3 is realistic and we are running our alpha network nodes on that. The ARCH consensus makes this possible since unlike PoW there is no hash rate race for mining and hence no requirement for mining rigs. The consensus randomly selects the validation group. Random but repeatable using the heuristic algos.

Akshay Kumar: As far as profitability is considered, Uniris blockchain has a prediction module built inside it, which will always ensure a minimum profitability. For example: The electricity costs in Denmark are 5-6 times higher than in India, the prediction module automatically takes all these into account!

Mary | Satoshi Club: So, you won’t need a lot of miners?

Nilesh Patankar: More miners provide more scale but yes in comparison we will not require as many miners. Every miner brings computing power to the network so the performance will keep enhancing as miner community grows. Moreover there is no compute entry barrier for miners to be part of the network.

D. | Satoshi Club: What is this ‘prediction module’? please tell a bit about it.

Akshay Kumar: To enable Uniris blockchain network to survive decades or even centuries, it must be able to adapt to threats and react accordingly. For this purpose, the Uniris network has a prediction module capable of linking a network disturbance (e.g. unavailability of nodes in a geographical area) to an event (e.g. storm in that area via Oracle).

The ability to predict an event even before it happens and deploy countermeasures!

Q5 from Telegram user @Angieleal

Taking into account that Uniris won Noonies Tech 2020- “Trending Tech Product of the Year” could you describe what is the CORE product of Uniris? What are the main uses of this product? The fact of having won against products like TikTok and Zoom is amazing!

Nilesh Patankar: Yes, core product is the ecosystem based on blockchain and biometrics. The use-cases start with secure access, P2P marketplace and many more. The product adds value to the community by enhancing the potential of solutions that are possible.

Mary | Satoshi Club: When this all will go live?

Nilesh Patankar: Q2 2021. The TestNet would be deployed before that around Q1 2021.

Mary | Satoshi Club: Oh, not so long to wait👍 Do you have some features available for test now?

Nilesh Patankar: Not yet, we have the alpha network up and running and we are updating our website on top of our alpha network. By next week you will be able to see our blockchain based website. Testing will commence next year.

Q6 from Telegram user @konditer_rolex

For the first time I meet the concept of Self-healing Blockchain. Is this your exclusive solution? I would like to ask what is destroying the blockchain and what will you heal it from? Perhaps you will share the address of your blockchain pharmacy on GitHub? Or are you closed source code?

Nilesh Patankar: We are open source and idea was self-healing was based on the challenges that are related to scalability. Scale requires concepts like sharding to be implemented and sharding is prone to loss due to network and other issues. Hence the self-healing concept. The pharmacy is available for all to partake and share.

Akshay Kumar: Self-healing blockchains are designed to heal from any P2P network problems (online/offline of nodes, internet, electricity problems, etc…) The blockchains performance is prone to the problems that why we call it self-healing blockchains, as far as shutting down the blockchain is considered, the prediction module will deploy counter measures even before the shutting down happens, so…

Mary | Satoshi Club: Open sourced, that’s great) What about governance? Who will be able to influence on project?

Nilesh Patankar: We have designed a form of on-chain governance. Very soon the implementation and details will be provided to the community. Idea is for us to leave the project to the community in coming years. For that there would be set of users and community of users who would participate in the on-chain governance. We are excited about the concept that we have designed and we would provide some literature around it very soon.

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @K2ice

You incorporated Uniris in 2017 after two years of research. And you could have easily jumped on the ICO boom that happened in 2018 but you didn’t. Why did you decide not to jump on this opportunity and wait till a later time?

Nilesh Patankar: You are absolutely right, we incorporated Uniris in 2017 after two years of research. We could have easily jumped on the ICO boom that happened in 2018 but we have been patient and transparent in our approach. We have taken time to engage with researchers and got our work peer reviewed. Today we are listed with the promise of well-defined use-cases and business plans. Investors can easily verify the authenticity of the roadmap and the work that is happening. We have multiple proposals in the pipeline and a sound business plan leading to a steady revenue stream.

Q2 from Telegram User @KelierTG

I noticed that for the distribution of your token economy you used Fibonacci numbers or succession, quite interesting! Where did the idea of applying this succession to your token economy come from?

Akshay Kumar: The fibonacci series, is mainly adopted from the nature. For the network effects to have maximum influence on the price of UCO Fibonnaci series was the best choice.

Q3 from Telegram User @niko518

How do you plan to ensure a programmed deflation mechanism? Will this mechanism increase the value of the $UCO tokens?

Nilesh Patankar: As explained in our white paper, the destruction of UCOs will be directly built inside the mining process (part of the fees will be burned). This is transparent for the users of the platform and does not affect their transactions or their holdings. The burn happens from the part of the transaction fees only and hence helps in decreasing the UCOs in circulation in a gradual and programmed manner. As explained, the value of a crypto currency is only based on demand/supply – thus the importance of that kind of burn mechanism is to systemically reduce the supply and hence systemically increase the value of each UCO.

Q4 from Telegram User @Maksyrn

What will be done if someone manages to spoof a fingerprint?

Akshay Kumar: The biometric device, not only takes into account the finger print but also the Ultrasound of the venous network and spectrometric analysis of the finger, so for you to be authenticated not only the finger print needs to be matched but also the other 2 parameters.

Q5 from Telegram User @Splendicity

Do you plan adopting your stress level checking instruments in Health centers and Hospital?

Akshay Kumar: Yes, indeed the Biometric device has all the capabilities, data and the algorithms necessary to do so… In fact, when you combine the data with AI algorithms new areas of innovation and research can be created!

Q6 from Telegram User @tungvodoi206

“UNIRIS”, how was your name born and what does it mean?

Nilesh Patankar: Uniris name is made of Uni+Iris, it means one soul. It signifies inclusion and unity in diversity. We felt that the name is able to denote our vision of breaking all the barriers and creating a community based ecosystem.

Q7 from Telegram User @Johana0012

Wuao 3.6 billion times less energy consumption, how does Uniris provide such care to the earth and at the same time provide innovative technology?

Akshay Kumar: Uniris network stands out due to ARCH consensus and its focus on data availability and on the global and decentralized spirit of proof-of-work (not the HashRate PoW).

Uniris consumes

• 3.6 Billion times less energy than Bitcoin
• 308 million times less energy than Ethereum
• 60000 times less energy than EOS
• 0.42 Wsec per transaction
• Equivalent to burn one tenth of a gram of sugar.

Q8 from Telegram User @Johana0012

Are Uniris smart contracts natively activatable, updatable, formal and easy to program?

Akshay Kumar: Uniris Smart Contracts are:

• Self-Triggable
• Smart contracts can interact with Uniris’s native Internal Oracles
• Formal
• Easily programmable with drag and drop boxes, (even your grandmother can program on Uniris smart contracts)

Q9 from Telegram User @cengizhantekin

You have ZKP in your system. Can you tell some about it please? What is its mission? What are the advantages of having that feature?

Nilesh Patankar: ZKP is the holy grail of cryptography akin to magic. The idea is to provide access without any knowledge of the proof of access. We achieved it through our crypto biometric solution which aims to unlock the user’s identity chain without storing any proof related to the user. Asymmetric cryptography is utilized and biometrics is used to generate private keys that are only used for decrypting the identity locked by the corresponding public keys. No storage is involved and there is no threshold based pattern matching.

Q10 from Unknown Telegram User

…

Akshay Kumar: Uniris blockchain outperforms the current blockchain standards and is closely integrated with biometrics’ native identity. Uniris architecture provides linear horizontal scalability. Given enough nodes we can target 1 Million TPS. Here are some KPIs –

Ergonomics: a platform for all blockchain applications.

Scalability: > 1 million transactions/sec.

Instantaneous: < 5 sec validation time.

Security: 0.0000001% risk of fraud even with 90% of malicious nodes.

Sustainability: 3.6 Billion times less energy consumption than Bitcoin, 0.1% average transaction costs.

Simplicity, with the native biometric device (no more passwords, keys, etc…).

Nilesh Patankar: Killer features –

ARCH Consensus – scale without sacrificing security

Supervised multicast protocol for P2P network – This is less chatty than Gossip protocol and increases the available bandwidth.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Uniris. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ 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:

Uniris ENG: https://t.me/uniris_eng

We always happy when new project comes to Satoshi Club and today we would like to tell you about the AMA session with our friends from YIELD. The AMA took place on November 04 and our guests were Tim Frost, CEO of YIELD, Jan, who handle digital marketing for YIELD and Sapta.

The total reward pool was 800$ and has been splitted in 3 parts.

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Yield! welcome to Satoshi Club:grinning:

D. | Satoshi Club: hello again Satoshi club!

Jan: Hey All!

D. | Satoshi Club: @Mursuvalas hello! welcome to Satoshi club!

Sapta: Hi everyone!

Mary | Satoshi Club: You’re welcome 🙂

Jan: Thanks for having us

Mary | Satoshi Club: So, tell us about yourself and about Yield🙂

Jan: I can introduce myself first. Being a growth hacker, digital nomad, and creative thinker, I handle digital marketing for YIELD. I’m data-driven and have extensive experience in branding, PR & SEO. I’ve helped successfully scale-up companies in the sphere and I was the head of marketing at Paxful, now the largest P2P marketplace worldwide. I also have many successful ventures in the Casino industry.

Mary | Satoshi Club: You know, a lot of people think that crypto is Casino:joy: what can you tell?)

Jan: In casino you loose 99% of the time, at crypto you have the chance to actually win something :sweat_smile: and also crypto is actually doing some good for this planet

Tim Frost: My name is Tim Frost and I am CEO of YIELD
I have a rich Fintech, marketing, business development, and operations background. YIELD.app is my 3rd digital bank and he has been a key figure with many successful fintech and blockchain companies. Specializing in early-stage growth, operations, and development. I was part of the founding Wirex team and supported operations, business development, and marketing for the first 18 months. I also joined and helped take EQIBank to market a global digital challenger bank with an average client AUM of $250,000. I have helped accelerate early-stage blockchain startups QTUM, NEO, Paxful, Polymath, Selfkey, Everex, and many others.

YIELD is a licensed and regulated FinTech company that enables anyone to invest in decentralized finance with the touch of a button! Thanks to our intuitive app and web platform, users around the world can start earning returns from DeFi products without having to go through a lengthy, complex and often costly learning process.

Mary | Satoshi Club: Yes, it has to be easy to defi with one button) I want to know more about Yield:+1:

Jan: YIELD makes DeFi accessible to anyone thanks to our intuitive app and web platform, where users simply deposit crypto or traditional currencies and select the investment plan that suits them best.
Operating under a banking license, we offer insured and innovative financial products managed by a team with years of experience in FinTech and cybersecurity. This ensures that our users always feel comfortable earning with us.
At the core of our strategy, our $YLD token allows for transparent governance, rewards loyal community members and supports social impact initiatives

Maybe picture will aslo give some help

Tim Frost:

A brief overview of how we handle this in the backend. We essentially have a trading team with custom build toold that give our team the best insights into the DeFi market and investment opportunities. We aim to take the complexity out of DeFi for our clients.

Jan:

Mary | Satoshi Club: Yes, this picture gives us a hope) on the right side)

D. | Satoshi Club: yes, DeFi with YIELD looks way more simple to use and understand :+1:

Jan: I think defi should be simple and accessible for everyone and that’s one of our core missions

But happy to answer whatever questions the community has!

Q1 from Telegram user @mohaa198o

Your CEO helped grow companies such as QTUM, NEO, Wirex, Paxful, and others. In quality did he work there and how specifically did he help them grow? Why now started to build his own company?

Jan: I can go first, Tim will answer about his journey. I was the 4th member of paxful and also the head of marketing. during my During 4 and half years there, I grew the customer base from 50,000 to more than 4.5 million users, and the weekly revenue from USD $100,000 to more than $44 million.
I was managing more than 45+ people and was establishing offices all around the world. I’m well known in the space and why I decided to establish Yield was because I saw the potential in the space of defi. I also wanted to challenge myself to build something again from scratch :pray: Tim “lured” me in with his amazing pitch and now I’m here !

Tim Frost: I will take one at a time. Wirex I was part of the original team and joined the team to run marketing, business development and some operations. I then left Wirex (3.5 Million clients) to start a consulting firm in 2016. I worked closely with Paxful and QTUM during this time. I spent a few months in office in Shanghai to help launch the ICO in early 2017. I also work with Antshares and my firm ran marketing and PR for Antshares in western markets before they rebranded to NEO. So with all the companies its a variety of ways I worked with them. Marketing, PR, operations, business development.

I then joined EQIBank and helped them acquire a banking license and took them to market. The bank is now in process of a public listing event in Canada. I wanted to get really involved in crypto fintech and in June I founded YIELD.app and have been building this company the last months and preparing to take it to market.

Mary | Satoshi Club: Yes, guys, with such background it was hard not to think about your own project). Do you plan to cooperate with at least one of the projects you worked previously with?

Jan: 100%, we also have very strong partners behind us so expect a lot of news coming up in the coming weeks!

Mary | Satoshi Club: Great, it’s a hint for the nearest future :+1:🙂

Jan: Recommend to follower us on twitter and Telegram. We are getting traction fast :sweat_smile:
https://t.me/yieldapp
https://twitter.com/YieldApp

Mary | Satoshi Club: Btw, what past experience was most useful to you?)

Jan: During my time at paxful, I’ve travelled to more than 45 countries, had bunch of conferences and did Paxful University tour in both Africa and LATAM. What I learned was the more you educate people about crypto the more people will start to follow you and use your brand. I think crypto is still in the baby steps what it will be, and the more users and builders we get into this space the faster it will grow. I hope people join communities that give real value and don’t focus on just pump and dump schemes

Community first and listen to what people say, everyone are equal and the ideas that people have are amazing

Mary | Satoshi Club: It’s a bit philosophical, but very true 😂

Tim Frost: I would say for me EQIBank has been the most useful. Its been a very difficult journey from dealing with regulators, establishing correspondent banking, card programs, and so many challenges to build this company. Its been the best learning experience I would say. Its always the most lessons from the hardest roads. It has also helped build the inspiration for YIELD.app for building a digital bank where everyone can earn yields powered from DeFi.

Mary | Satoshi Club: Yes) practical details) as i understand you will need some lisences, right?

Tim Frost: We have recently acquired an offshore banking license for YIELD.app as well. Our partner Dr. Jason Corbett is also General Council for EQIBank. Jason has been working on our banking license and it is approved. So we will be licensed to operate from launch.

Q2 from Telegram user @ji_sun_kor

I would be able to deposit and withdraw to my bank account. But will I be able to deposit, exchange to euro/usd and then withdraw to my bank account or top up my fiat card?

Tim Frost: From initial launch we will have crypto in and crypto out. In early 2021 we will have USD, EURO deposits and withdrawals. We are also working on our card program which I have launched several successful card programs previously. So ultimately what we are building is a digital bank with crypto and fiat wallets with correspondent accounts and card programs.

Jan: Digital bank that offers YIELD to its customers.

Tim Frost: Its a multiple phase build out.

Jan: you can find more info from here:
We have more info on our white paper here: https://docsend.com/view/5zjmkjb88pxxmwhm/d/x3c37p9cjjb95kty (PW: YieldAppSeptember)

Tim Frost:

Here is a little taste of the dashboard.

Mary | Satoshi Club: As i understand this question about the exchange of crypto for fiat inside your digital bank?

Tim Frost: Yes we will have crypto to fiat swaps/conversions and swapping between crypto in early 2021.

Mary | Satoshi Club: So, you will have USD, EURO in 2021. Do you plan to add more currencies?

Jan: Depending on the market demand yes. Its crucial to have Fiat on and off-ramps. As Tim said before, everything comes in stages

Mary | Satoshi Club: Yes, stages is important, you will develop and see what you need more:grinning:

Q3 from Telegram user @rebel99

I have check through your Website and Twitter pages but there’s no timeframe for when Yield would be launched, when will your platform be launched?

Tim Frost: We are planning on a token launch at the end of November and will formally announce this soon. We are aiming for the platform launch of yield.app at the same time or shortly afterwards. The best way to stay up to date is join the newsletter and our telegram groups.

D. | Satoshi Club: can you share your tokenomics with us?

Jan: We’re actually running campaigns to make sure that early YIELD users get the best perks 😉 https://www.yield.app/early-adopter/campaign

Mary | Satoshi Club: Satoshiclubbers, it’s your chance :+1::wink:

Jan: https://medium.com/@yieldapp/yield-launching-native-yld-token-5a48f2bb48ac You guys can read more about the tokenomics here

Our ERC-20 utility token offers several benefits to its holders, such as reduced platform fees and the ability to vote on project decisions through the YLD DAO.
During the first 36 weeks after launch, our early adopters will receive $YLD when they invest in a plan, refer new users to our platform, stake their tokens using our built-in feature, or simply hold assets in our secure multi-currency wallet. The max supply is fixed, and we plan on gradually repurchasing tokens to reduce the circulating supply and reward holders.

anyway recommend to read the medium article and if any questions please join our channel

Mary | Satoshi Club: If i will hold assets in your wallet will i have access to my private keys?

Tim Frost: Our wallets are BitGo (https://www.bitgo.com/) which are full custodial wallets. We are like a bank or exchange. We handle all the security for you, and manage keys and complexity on our side. We have full support, and insured wallets.

D. | Satoshi Club:

by the way what is a minimum sum for deposit?

Tim Frost: The minimum investment on the platform is $100.

Q4 from Telegram user @konditer_rolex

Most of the projects are organized by AMA to inform about the presale and convince us that their pharming programs are the most profitable. I looked at your site and did not find on the main page a banner “Buy our token and get a million percent per annum.” And therefore I have a question, how do I get your token? How do you distribute it? Was there a presale? Where does the start-up capital and money for the development of the project come from? And, of course, the main question is, is it possible to get your token for free?))

Tim Frost: The presale is now ongoing. Its available to qualifying backers. You can email us at presale@yield.app and also message me @timfrost5 and we can give you more information. We are raising $4M presale and it is about 70% sold out now. We will be doing a main public round as well at launch. We are doing an $800k main round with no lock down at launch as well. We will provide full details on this soon. Here are some of our current backers.

Alphabit Fund
David Johnston (Factom)
Trevor Koverko (Polymath)
DigiStrats
Tim Bos (Sharing)
Dustin Byington (Wanchain)
BnktotheFuture

Mary | Satoshi Club: So, it’s just for big guys now or…?)

Tim Frost: Its for sophisticated investors. The minimum per group is $20,000.

D. | Satoshi Club: do you have some deadlines for presale? or you are conduct presale until all tokens wouldn’t be sold?

Tim Frost: Its open now until it closes. We are not pushing it aggressively as we are dealing with some great funds now on due dilligence, but we are open to having those in this great community (Satoshi CLUB) participating.

Mary | Satoshi Club: I think it’s a great chance for those who want to be early bird 😉

Q5 from Telegram user @Jonahapagu

Your Staking rewards will be distributed for 36 weeks, after this 36 weeks… Will there no longer be rewards distribution for staking?

Tim Frost: the initial rewards pool will end at 36 week for $YLD distribution, but we anticipate users will stay using the platform to continue earning those high yields on the app. We will also look at different ways by then to explore more ways to redistribute $YLD tokens. So as of now the program ends after week 36, but we anticipate to have launched additional products and incentives by that time.

Mary | Satoshi Club: Can you share with us more about staking?)

Jan: The longer you stake the more points you get. Those points are than calculated as % of the pool that we give out

Tim Frost: You can find full details here https://medium.com/@yieldapp/yield-launching-native-yld-token-5a48f2bb48ac. But to add to this $YLD staking rewards come 3 ways. Put USDT, USDC (future more coins) on the platform and earn $YLD, invest in our DeFi investment pool and earn interest and earn $YLD, and hold your $YLD on yield.app and earn $YLD. Its an extra incentive for our token holders and for the platform participants.

Jan: The longer you Stake the more points you get and the more you can get out of the 36 weeks

Recommend to get into the first 36 weeks! 😉

D. | Satoshi Club: lots of ways to earn some $YLD :+1:

Mary | Satoshi Club: A lot of opportunities) btw, if someone will be late for your sales, do you have any timeframes when $YLD will be available on exchanges?

Tim Frost: Shortly after launch it will be available on CEX and DEX. We want YIELD.app to be a community driven project and everyone with a chance to be part of what we are building.

Q6 from Telegram user @yiselen

They have market monitoring bots to ease the work of the YIELD team, but what guarantees me as a user that fraud can occur through these bots?

Jan: All protocols that YIELD interacts with are subjected to rigorous audits using smart contracts, and our infrastructure uses the best-in-class solutions designed by cybersecurity specialists and DeFi experts. We also partnered with BitGo, the industry’s leading digital asset custodian, to ensure the highest-level of security for our multi-signature wallets and vaults.

Also! All assets are protected by the YIELD Insurance Fund (which you can learn more about in our token article :wink:), and our DeFi strategies are curated by an expert team of market analysts and fund managers with years of experience in FinTech. By aggregating the capital of many individual investors, we are able to neutralize risk and offer unprecedented investment opportunities in a secure environment.

Mary | Satoshi Club: It seems secure like a secret room in White House:joy:

Jan: Haha, I hope that answers the question though. We want to be transparent and that’s something that we value, we are also here with our own faces and we are taking the regulative way so no funds are at risk!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Maksyrn

The site says that to use YIELD almost nothing is needed except money. But, what about the cost of transfers within the network, it can gobble up all the profits?

Tim Frost: We run yield.app as a managed fund which we allow people to invest into sophisticated DeFi yield farming strategies for as little as $100. We do this because we batch transactions. This means we manage your funds on a database and we deploy funds into a veriety of DeFi protocols. So your $100 may be in 20 DeFi investments.

Q2 from Telegram user @cengizhantekin

Your website tells about “Robots”. Do you have a built-in Artificial Intelliegence (AI) apps?

Tim Frost: There is a new website coming next week. We do of course have a lot of automation and tools being build but its more about the human touch.

Q3 from Telegram user @K2ice

The initial rewards pool will end at 36 week for $YLD distribution. After distribution, how can a user continue to earn high yields on the app?

Tim Frost: When you invest into yield.app you earn both $YLD tokens and interest in USDT and USDC. Think of the $YLD as a bonus.

Q4 from Telegram user @livelonger06

Will Yield App also have a Lite Version?

Tim Frost: I am not familiar with DeFi investments for Litecoin. We would need to explore what is currently available.

Q5 from Telegram user @isnaindhuha

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 investors to YIELD and keep them long term?

Jan: YIELD was designed to enable anyone to invest in DeFi using crypto or traditional currencies, regardless of their financial or technical level of expertise.
As a licensed and regulated FinTech company, we provide a secure digital banking platform where users can earn high returns through insured DeFi strategies that would be impossible for individual investors to replicate on their own.
In addition, our governance token $YLD allows its holders to save on platform fees, vote on project decisions, and support social impact initiatives. You can read more about $YLD here: https://medium.com/@yieldapp/yield-launching-native-yld-token-5a48f2bb48ac
We also work with a lot of different communities and strive to penetrate and get early adopters. WE also educate about the community and we truly believe that everyone should have the chance to participate in the DEFI SPACE.

Q6 from Telegram user @wonderkit

any partner who has a big influence in the development of the YELD project?

Tim Frost: Yes a number do. We are working closely with Hartej and Zokyo on smart contract auditing. We are also soon to announce some strategic partners we are actively building with.

Q7 from Telegram user @jpsarmah

Participate with the Click of a Button with YIELD. Is this truly achievable and if yes, how do you do it like non-tech elderly people can use it too?

Jan:

Maybe the best way to understand our platform is this picture.

We do all that heavy lifting in the background while you get YIELD

Q8 from Telegram user @xitrump

While many projects and wallets are aiming to “decentralized”, so why your wallet – BitGo – is a centralized wallet with managing keys?

Tim Frost: because we are a licensed financial institution and we have responsibility for custody of client funds. We are building a simple gateway to DeFi for clients. If you want to Yield Farm directly there are other platforms. If you want to invest into high yielding opprtunities and let us manage things then use yield.app

Q9 from Telegram user @apocan99

Yield.app has the options for transactions with bank accounts and credit cards. Does it have country limits or are these services provided to all countries?

Tim Frost: More details will come available in December and Q1 2021. We are building out now our fiat rail partners.

Q10 from Telegram user @kripto_mangunkusumo

Regulation can be a challenge, especially when bridging traditional finance to DeFi space. How have YFC Team dealt with the regulations so far?

Tim Frost: Our co-founding team is built with lawyers and fintech professionals who have built successful fintech companies with regulators approval. Myself this is my 3rd digital bank. Dr. Jason Corbett has been dealing with regulators in fintech for 6+ years. Justin Wright has also built many managed funds and fintech and dealt with regulators. We plan on being a fully compliant crypto fintech company and working with regulators and not hiding from them.

Jan: If there are any questions that we didn’t answer or you guys feel uncertain please join:
@yieldapp
https://twitter.com/YieldApp
You can also send me questions on Tele or in Twitter:
https://twitter.com/jan_yieldapp

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of YIELD. They’ve prepared 4 questions for this part. The total reward pool for quiz was 500$.

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:

YIELD Community: https://t.me/yieldapp

We are pleased to announce our next AMA on November 10th 2020 at 02:00 PM UTC Time: Satoshi Club x YFOX Finance

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join YFOX Finance Telegram group

We will have the following structure:

Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 150$/10 users – Open chat for 100 seconds. You can post Max 5 questions. YFOX Finance Team will select 10 questions and answer them.

Part 3: 700$ – A quiz about YFOX Finance

For more details:
YFOX Finance – @YFOX_Finance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on November 11th 2020 at 02:00 PM UTC Time: Satoshi Club x Xplanum

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

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

We will have the following structure:

Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 150$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Xplanum Team will select 10 questions and answer them.

Part 3: 700$ – A quiz about Xplanum

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

We are pleased to announce our next AMA on November 9th 2020 at 02:00 PM UTC Time: Satoshi Club x Team Finance

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Team Finance Telegram group

We will have the following structure:

Part 1: 250$ /12 users – We’ll select 12 questions from the community. A user can post maximum 3 questions. 12 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 250$/15 users – Open chat for 100 seconds. You can post Max 5 questions. Team Finance Team will select 15 questions and answer them.

Part 3: 1000$ – A quiz about Team Finance

For more details:
Team Finance – @team_finance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

The month of November has begun and that means that the year 2020 is about to come to an end, at Satoshi Club we will continue to bring exciting projects. Today we would like to tell you about the AMA session with our friends from Xplosive Ethereum and the guest was xETH Trent, the Marketing Manager for xETH.

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Luis Merino | Satoshi Club: Hello SatoshiClubbers! Welcome to another AMA session with us. Today we have Xplosive Ethereum with us.

Gold Rocket | Satoshi Club: @xETHTrent, welcome to Satoshi club!

xETH Trent: Hey guys, pleasure to be here with you all.

Luis Merino | Satoshi Club: Could you please introduce yourself and tell us how you started with xETH?

xETH Trent: I am the Marketing Manager for xETH; I have been a holder of xETH before I joined the team.

My pleasure, xETH (Xplosive Ethereum) is the first of its’ kind in the rebase space of cryptocurrency. Xplosive Ethereum is a price reactive deflationary token that has eradicated negative rebases. xETH has a target price of 0.01 ethereum daily, meaning if the price of xETH is above 0.01 ETH we get a positive rebase. If it’s below that amount nothing happens! The sales tax also burns an amount of each transaction reducing overall supply, half of this tax is sent to the staking rewards pool and half is sent to a burn address.

Q1 from Telegram user @sajay999

If you xETH is pegged to 0.01 ETH, does it mean that its price can’t go lower or higher than the price of 0.01 eth? Like usdt to usd?

xETH Trent: No not at all, the price being pegged is the reference of the standard value of the token. The price is still able to become higher or lower based on buy and sell pressure. When the price goes above the peg price that is when a rebase occurs, what happens is your holdings increase relative to the increase of value above the peg price. So if the value of the token is 10% above the peg price then you are awarded additional tokens to the value of the 10%, effectively increasing inflation to bring your holdings back in line with the peg price, while it doesn’t devalue your current tokens it increases the circulating supply to align the number of tokens with the value of the market cap.

Gold Rocket | Satoshi Club: Does this mean that you are always in position win-win?

xETH Trent: It is a win-win for xETH but not in the traditional sense that the tokens value never drops. The mechanisms behind xETH that make it a win-win is that our taxes are increased the further below peg we go. This incentivizes hodling and alleviates sell pressure. With all other rebase tokens they have a mechanism called a debase, where your token holdings are reduced. So as an example, you could go to bed with 100 tokens and wake up to 80 tokens after a negative rebase. Our token is designed with no negative rebases, so you will never have less tokens. You can only ever gain more tokens.

Further to this one huge point is Xeth discludes the uniswap pool so when a rebase occurs your tokens are worth the same as they were beforehand. So if Xeth is $5 and you have 100 Xeth and then get a 20% rebase you then have 120 Xeth at $5. Price doesn’t change.

Q2 from Telegram user @ozmnhkn

Although ETH 2.0 is delayed to next year, it will solve all current ETH issues and dApps will be trending in the future, do you think this is a threat to your project?

xETH Trent: No not at all, as our token directly correlates to ETH, as the value of ETH increases so does our tokens peg price. Again the further below peg that we are the higher the tax rate is. This deters sell offs and increases the buy presser exponentially. Once we have hit peg, you get a rebase and the tax is reduced to stop the hyperinflation of the value of the token. It is designed to always be worth 0.01 ETH and our mechanisms were designed by mathematics and economics engineers to ensure that it not only works as it is designed to but also that it is sustainable for years to come.

The better ETH performs and the greater adoption of dAPPs will only strengthen xETH into the future.

Gold Rocket | Satoshi Club: By the way, do you have a big team? How many people are working on a project?

xETH Trent: Our team has over 10 members as well as a partnership with the Community Token (com) which gives us a greater talent pool to be able to utilize.

Luis Merino | Satoshi Club: Got it! So the improvements done to ETH will directly affect xETH. Sounds good. Looking forward to ETH 2.0 launch to see how your project reacts. 🙂

xETH Trent: They are a mixture of many different backgrounds and experts in their chosen fields and professions. We have developers, engineers, business professionals to name a few.

Gold Rocket | Satoshi Club: For the success of the project, in addition to technology, you really need proper marketing. And that’s a good way to go.

xETH Trent: Correct, I own a digital media agency and was the reason I joined the team as the Marketing Manager. I have also run several multi-million dollar sites for various national and international companies. I started my career working for a Fortune 500 company called CSC (Computer Sciences Corporation).

Q3 from Telegram user @Jobel4

How can you assure that Xplosive Ethereum has no negative Rebases? Can you discuss how rebasing run in your platform? What are the drawbacks and benefits of Rebasing?

xETH Trent: We are a fork of the project AMPL (Amplforth) and looked at what made that project good and what were some of the challenges associated with it and others competing for market share in the space. We noticed they all had the same design principles of negative rebases, which while in theory is a sound principle the psychological effects of that is detrimental for the sustainability of not only the token but also your own portfolio. We knew that if we could come up with a solution to that problem it would not only be a groundbreaking game changer but also have positive financial impacts for our communities’ portfolio.

The rebase lag factor ensures that the rebases are sustainable for the long term. We had mathematicians come up with the perfect formula for a sustainable rebase.  Let’s say the peg price determined is 0.01 ETH which is 3.75 usd in example. Imagine that we are at 7.5 usd per xETH, then we are 100% above the peg. With the rebase lag of 1/2 (divided by 2) we would get a rebase of 50%. Our rebase is able to be dynamic based on how long the price has remained below peg. If the price stays below peg for too long then the rebase lag rate is reduced, adding more incentive to buy the token and drive the price back above peg. If the price is above peg for too long, then the lag rate is increased. This prevents hyper-inflation. If the price goes too high the lag is further increased to keep the rebases sustainable and allowing the project to continue on indefinitely.

Gold Rocket | Satoshi Club: It’s good that you thought about it. What about smart contact audit? Did you have or plan it?

xETH Trent: The greatest benefit to rebasing with no negative rebases is you are able to have a passive income for as long as you own the token and we are above the peg price.

Our smart token is actually a fork of AMPL but with all the enhancements to create something better. AMPL was previously audited so we knew the contract was safe. As we are partnered with the Community Token (com) some of their developers went over the contract as well. However we do not consider that to be an audit as they are closely partnered with us. In regards to a third party reputable auditor we will be having one done with the release of xETH 2.0.

Once that audit is completed we will be posting it on our website / medium / github etc for full transparency and disclosure.

Q4 from Telegram Username @konditer_rolex

Did I happen to hear about the xeth Millionaire cruise? What is it guys?

xETH Trent: Haha, Yes that is true, we have quite a few large investors backing the project. It was an idea floated by one of our largest investors who wants to take everyone who owns a substantial amount of xETH on a Caribbean cruise. Full disclosure, I can’t wait lol.

Q5 from Telegram Username @yzmoney

There are several rebase token in the market, with ampl with largest market cap with a onetime marketcap from 1 billion market cap that drops until 100 million now. What’s your unique selling point compare to them? the target of your coin is to reach baseline of 0.01Eth, why did you choose this value? Is there a maximum % of rebase daily?

xETH Trent: Our unique selling point is no negative rebases. You will never lose any of your tokens. With the uniswap pools not taken into consideration the value of your tokens doesn’t decrease as your token holdings increase. This allows you to earn a sustainable passive income. In the current climate with COVID and economic uncertainty this adds a level of stability in an already uncertain time. That value was chosen as it is a sustainable price point that anyone can buy into, we could have gone 1 BTC as the peg, but it will price regular investors out of the market from owning more than one token. We aren’t trying to be the most expensive token, but we do want to become one of the most widely adopted. There is not a maximum, however the further away from peg we go the more the lag rate increases, this is to ensure there is not a 100% rebase where people just get twice as many tokens and we end up with a hyperinflation scenario.

There are smarter people than me with economics, financial and mathematics degrees who have worked out the perfect formula for keeping everything synced in perfect harmony. I will say an analysis of xETH v AMPL was conducted, Over the last 30 days, average rebase for xETH 6.1% / 0.006% for AMPL.

Q6 from Telegram Username @Xusuo

I read that roadmap for 2021 you have planned the issuance of XplosiveETH Stablecoin. My question is What role will it play on the platform? How will it differ from XplosiveETH?

xETH Trent: That is not on our roadmap. We do not have plans for a stablecoin. Our roadmap ends at the end of 2020 with xETH 2.0. That is once the audits are finalized and everything is 100%. At which point the dev keys will be burned, and the project will be completely decentralized. It will then be handed over to the community as it was always intended to be.

---

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 Unknown Telegram User

…

xETH Trent: Yes! Our staking pools are currently in beta testing, once everything has been proven to work accordingly this will be opened for people to provide LP tokens as liquidity.  This will further stabilize the price allowing for a slower and more even price change. You will get tokens from providing LP tokens relative to your contribution.

Q2 from Telegram User @KeymerS

In the last 24 hours xETH has fallen by 39.87%, how did this happen if XPLOSIVE ETHEREUM has deflationary mechanisms that make the price rise again? or have not finished developing them?

xETH Trent: After every rebase there is a natural sell wall, every rebase token encounters it, as that is by nature the design of a rebase token. If there were no sells after a rebase then the price would never go down and the reduction of lag will continue until the buy pressure is released. If you look through the data we had that happen with the token at the start of its life cycle. As with all tokens there are ebbs and flows. We have now been live for a little over 6 weeks, and the mechanisms we have in place are working as they should be. Once you have a rebase, you sell your rebase (if you choose, you could hold it and compound the additional tokens next rebase if that is what you choose to do and gain more tokens from subsequent rebases) and the price goes below peg. The tax increases to alleviate the sell pressure and prevent the token going into a deal spiral. Now that we have gone past the initial phase, you will see a steady flow of buys after each rebase sell wall. This is the only way a passive income is sustainable.

Q3 from Telegram User @AmirJosh

Can you please explain the 33% tax when someone adds liquidity? What is the reason why you set this high percentage?

xETH Trent: The tax is variable and will always change depending on the market demands. However with staking as you are guaranteed to earn tokens even when the price is below peg, this was done to prevent daily dumping of tokens suppressing those whom do not stake from reaching peg and earning rebase rewards. You will always end up in a profitable position, it will just take a little while initially.

Q4 from Telegram User @Johana0012

Do the delegates with more Xplosive tokens have more voting power? have a greater capacity to direct the project?

xETH Trent: No, it does not matter if you own 1 xETH of 1 million. Every vote that is put forward has an equal voice. This is truly designed with the community in mind and not a few people who are able to purchase more.

Q5 from Telegram User @Don289

If anybody think that your project really likes a scam project, and they can’t trust your project. How do you make them believe in your project?

xETH Trent: With so many dubious projects in the crypto space it is easy for people to be skeptical about projects. Currently the development funds are locked until after xETH 2.0 is available. We have also burnt 70% of the developer tokens to the tune of $3.2 million USD. xETH 2.0 will be completely audited by reputable external auditors and those results will be published on all of our socials and on the website, medium, github. Finally we will burn the developers keys.

Q6 from Telegram User @Triwidodo99

What is the main use case of xplosive ETH?

xETH Trent: Our economics and financial specialists took the federal reserve and the banking sector in mind and wanted to offer better interest rates that you can receive from them. Think of xETH as a long term savings account. You can withdraw your interest or some of your capital if you need or leave it there to earn more money over time. This is one of the major factors that will help to garner mass adoption.

Q7 from Telegram User @ruhel00786

I am strong hodler so Can you please tell me why i go for $xeth instead of $AMPL?

xETH Trent: No negative rebases, higher ROI and mechanics in place to stop the price staying below peg.

Q8 from Telegram User @Rosane1a8

What backs up the initial value of xETH? How was the crowdfunding for this, did the community take part of it?

xETH Trent: The inital value of xETH was the com token. When the founders initially wanted to build the project they took all the information along with the mechanics and formulas for the sustainability of the token and presented it for the initial liquidity. It was vetted before the project was nothing more than a concept. The COM team helped to establish the foundation of the project and is the reason why we are so closely partnered with them.

Q9 from Unknown Telegram User

…

xETH Trent: Most rugs occur within the first few days of a project. xETH is nearing 2 months old. The team behind the formulas have spent countless hours going over the numbers and running future models with various scenarios to ensure the sustainability of the project. Until xETH 2.0 is completely handed over to the community these models can continually be fine-tuned and tested. Though they haven’t needed to be for a while.

Q10 from Telegram User @Alika061

There are so many people who want to drop or FUD on a project and I see now in the group there are so many vilification and FUD, what about the responses that are problematic like that in the #Explosive Ethereum community?

xETH Trent: Fud is an inevitability of all projects these days, a lot of people dive into the latest hyped project without even knowing what the project is or what it is designed for. You cannot stop fud if people want to be malicious. You can educate people who do not know and start to panic. Knowledge is the best weapon in fighting fud. Don’t retaliate, educate. Our community has great members whom will help you and teach you if you really want to know about the project. Of course you will always have people who want to play psyops or enjoy seeing others get shaken, that is an unfortunate side effect of people being able to hide behind a screen.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Xplosive Ethereum. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ 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:

Xplosive Ethereum: https://t.me/xplosive_ethereum

Crazy November has begun and doesn’t let us get bored. Amarathon is unstoppable! Today we would like to tell you about the AMA session with our friends from YFC. The AMA took place on November 04 and our guest was John B Lewis, founder and CEO of Yearn finance center project (YFC).

The total reward pool was 600$ and has been splitted in 3 parts.

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with YFC ! welcome to Satoshi Club:grinning:

D. | Satoshi Club: hello all!

John Lewis | YFC: Hello Everyone 🙏Thanks guys, happy to be here 😃

D. | Satoshi Club: let’s start with introduction John! please tell us about yourself and YFC

John Lewis | YFC: My name is John B Lewis, founder and CEO of Yearn finance center project (YFC)
Let me give you guys a little background of mine. I’m originally a software developer with 20+ years experience working at top retail, finance and government agency’s in United States. I’m working on blockchain development since 2017 and completed a short contract with Maker DAO in 2018. Since then, I started developing my skill set to learn more languages including solidity.
We originally forked the YFI vault model and DFI.Money staking platform to develop or add features. We started this YFC project two months ago and decided to not be as anonymous team. So, we came visible to community to gain trust in market. We started development and ground work in September and launched presale this month on 21st.
Currently, the pre-sale is still live and we decided to speed up our farming and staking platform in early November.
website: yf.center
Telegram: https://t.me/yearnfc
Total supply: 1300 YFC

Mary | Satoshi Club: Your background is expressive)

John Lewis | YFC: Thanks Mary 🙏

D. | Satoshi Club: great! you can share more detail about your pre-sale?

John Lewis | YFC: Sure. We currently in the last phase of pre sale that ends tomorrow.
There are last 156 tokens left for sale and the is 200$ each.
We burned our tokens from 20K to 1300 Max supply few days ago. We don’t have ourself tokens to control the market. The complete control has been shifted to community and became community owned project. :pray:🏻:blush:
Website: yf.center
Max supply : 1300 YFC
Telegram: https://t.me/yearnfc

Mary | Satoshi Club: If one or two tokens won’t be sold:joy:, what you will do with them?)

John Lewis | YFC: The unsold tokens from 156 will be allocated to farming category. 🙂:pray:🏻

Q1 from Telegram user @Jonahapagu

Yearn Finance center is A Fork of Yearn Finance.. what were the specific improvements you made in YFC over Yearn finance in other words how is YFC different from yearn Finance. For now the only difference I know is the “center” added to your name

John Lewis | YFC: Haha, true. Honestly, it’s true.
The only difference is the name “center” like you said since it is exact fork so we use the same code.
I really don’t want to tell something we are not doing right now. The current status is the same as YFI/DFI.Money platform features. We are no different than them.
But, the agenda is not to be running the same. We do active developments to make changes to the vault and also the APY we offer comparing to other projects on market is high. We would increase the farming APY % that attracts each and every investors.
We usually take community’s advice before we touch or start developing anything.
Website: yf.center
Max supply : 1300 YFC
Telegram: https://t.me/yearnfc

Mary | Satoshi Club: This is very honest:joy: But do you see something in YFI that you personally want to improve? And bring this ideas to life on YFC platform?

John Lewis | YFC: Honestly, really no. As far as I know, it doesn’t need any improvements expect the APY % they offer. We have some personal plans, but it projected to reveal in December. I’m confident people love it. Andre is a great guy and I admire him.

Mary | Satoshi Club: Yes, Andre is amazing:smiley: thank you for your answers)

Q2 from Telegram user @bitcoinistic

I know that exchanges are pretty confidential regarding announcing in advance about a negotiation regarding a listing. However, you’ve wrote on the website that listing on KuCoin coming soon. Did they permit you to post that?

John Lewis | YFC: No sir, we took no permission from them to make a plan on listing.
We mentioned “coming soon” only.
It’s really a matter of listing fee. We will update our website anyway, if people have concerns.
We just thought of presenting our plan on how we might be doing going forward. This is not a strategy to attract people in to us.
Great things comes from great products. Our focus is not on price, but on product we are going to launch this month.

Mary | Satoshi Club: Why Kucoin?) Don’t you afraid?)It was hacked recently and still have a problems with a lot of projects which refused to make token swap?

John Lewis | YFC: We planned the Kucoin before the actual hack happened. :grinning:🤦🏻♂
We could do great things with the same listing fee and can list on Top factor exchanges.
We update our plan soon.

Mary | Satoshi Club: Oh, it’s clear) do you have any approximate terms to list YFC on CEXs?:wink:

John Lewis | YFC: Not really, we are looking for a reliable CEX which don’t use bot trading. We need real volume and real people. We are currently in talks with one exchange which is currently have a good name on market and good community. We will do sometime after Uniswap listing on 5th.

Q3 from Telegram user @Arisabela

How important is security for YFC and how do you plan to support your users once pre-sale is done?

John Lewis | YFC: Thanks for the question. But, I’m little confused since you asking about security. You mean security of actual platform network to avoid hacks? Or security on user investments? 😊 Let us assume, security of investor funds after pre-sale is done. We always tell our investors to hold till we go to CMC and coingecko. We will have more visibility in market going forward. After we burn 98% tokens, we see number of new people joined the pre sale. All investors now feel secure as they know already there is no chance of rug pull. We have no tokens to control market, investors have 90% more tokens that we do.

Mary | Satoshi Club: As i understand, you platform is as secure as YFI, right? As you are their fork?)

D. | Satoshi Club: what about audit? your contract passed audit?

John Lewis | YFC: Yes Mam. It is same as YFI. We don’t need audit since YFI is already audited. We only go for audit if we add or change the code.

Q4 from Telegram user @jobel4

The roadmap written in your website is until November 2020 only. So what would be the next thing to do after November 2020 and so on? What is in the box of preparation are you dealing with since end of the year is coming?

John Lewis | YFC: We honestly only have plans till December 2020. We will announce our 2020 Q1 in December mid week. :pray:🏻 All the plans till December are already shared on my previous answers. :pray:🏻:blush:

Mary | Satoshi Club: You are so honest, that even i a bit confused 😂 Will you decide how to move forward with your community?

John Lewis | YFC: Going forward, community is the one and only committee who approve our plans or change management. It’s like complete “Governance” of the project. This continues for long time unless and until we come up with a upgraded version v2. We will launch our working product late November. Users can stake and farm YFC tokens as rewards.

Mary | Satoshi Club: How YFC governance will work?

John Lewis | YFC: It is no different than other projects. YFC holders are responsible for governing the YFC protocol, which included approving and declining the changes we present. The YFC tokens locked up during the governance process are returned to the holder in 24 hours after the governance process is completed. This is automatically done.

Mary | Satoshi Club: Yes, everything is simple)

Q5 from Telegram user @K2ice

What is the distinctive difference between the YFC token and the yToken? And I will appreciate if you can briefly explain their use cases.

John Lewis | YFC: I’m not really sure about ytoken? It might be “asset” type and can be used for lending and borrowing purposes. We are no lending platform, we have no plans on it currently. After we launch our staking/farming platform we will think of the own exchange, but no plans on being an asset.

D. | Satoshi Club: so you don’t have yToken?

Mary | Satoshi Club: I saw a lot of questions about ytoken, i think something is mentioned somewhere in your documentation) or on your site

John Lewis | YFC: True, it is actually. I just checked. No wonder. Our developers explained on description itself about using POS yToken. We missed to update this on initial proof read. But, no plans on using POS token yet.

Mary | Satoshi Club: Great, our community is very attentive:joy:

John Lewis | YFC: Haha, so are moderators

Q6 from Telegram user @magic2crypto

There are 5,000 YFC available for the FINAL ROUND of sale on Nov 2nd 2020 – Nov 5st 2020, as it’s stated on your site. But the total supply is only 1300 YFC according to etherscan data(Contract:0xE8ed08a581777f112654e28DE507e11613DA0379). How could you explain this discrepancy?

John Lewis | YFC: Sorry, its just a number on website. We haven’t updated it yet. Our max supply is 1300 YFC only like you said. :pray:🏻

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Jmagsss

I can see in your roadmap that on December of 2020, you will integrate YFC to Binance Chain, why did you choose the BSC to integrate your project with?

John Lewis | YFC: We mean about listing on binance. We have the reason like others. It is top exchange, more user base, more volume and visibility. We applied for binance labs as well to seek funds for development. Nothing really spooky.

Q2 from Telegram user @borysfireball

Why you decided to speed up YFC farming and staking platform? Don’t you afraid that the quality will suffer?

John Lewis | YFC: It’s already so late as we promised to deliver the platform before the presale. We have to speed up things now or we loose trust. We are not worrying about quality at all. We are 6 devs, so two of them will always check on quality before we commit the code.

Q3 from Telegram user @Splendicity

Your profile says you are 31 years old
In this ama,you said you have 20 years experience in retail and finance.
31-20=11 years
Does that mean that you started business when you are 11 years old?.
pls tell us more

John Lewis | YFC: You can find my correct age in my linkdn, you can check the website. It’s a typo on telegram, I’m not that young. I’m 41 year old. 😃But imagine if someone starts coding at the age of 11? Crazy isn’t?

Q4 from Telegram user @BERTA2020

Do you plan to search for listings in other Exchange after your PRESALE?

John Lewis | YFC: Yes. After presale, our first focus is on one CEX listing for sure. We have to make sure we are getting right trading volume.

Q5 from Telegram user @K2ice

As an investor, if I hold till you go to CMC and coingecko,what will be my benefits?

John Lewis | YFC: Since we have very low supply 1300. You can make 5x to 10x when we go to public sale.

Q6 from Telegram user @jpsarmah

Can we farm with the YFC ETH Uniswap V2 Liquidity pool token which will give high rewards than farming YFC?

John Lewis | YFC: Farming on our platform will give you higher rewards obviously. Our platform will launch in late November.

Q7 from Telegram user @Splendicity

You included VOTE as part of your ecosystem features. What exactly can I vote for, if I’m eligible

John Lewis | YFC: Going forward, community is the one and only committee who approve our plans or change management. It’s like complete “Governance” of the project. This continues for long time unless and until we come up with a upgraded version v2. We will launch our working product late November. Users can stake and farm YFC tokens as rewards. (Copy and Pasted from previous answer)

Q8 from Telegram user @erven12

Can i know Where i will go to stay updated about your Developments and Updates?

John Lewis | YFC: Follow our telegram channel https://t.me/yearnfc1

Q9 from Telegram user @Kenas3

Whta are the plans of 2021

John Lewis | YFC: We will announce 2021 Q1 plans on our year ending event. Stay tuned.

Q10 from Telegram user @jpsarmah

Can the YFC token reach the same level of recognition and usage as the YFI token?

John Lewis | YFC: Our agenda is not to compete with YFI, but to be unique in whole market. Since, we are using the same code. We take YFI as a reference for our whole developments.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of YFC. They’ve prepared 4 questions for this part. The total reward pool for quiz was 400$.

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:

YFC Community: https://t.me/yearnfc

We are pleased to announce our next AMA on November 7th 2020 at 02:00 PM UTC Time: Satoshi Club x YFACT

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join YFACT 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 5 questions. YFACT Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about YFACT

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