Month: December 2020

We are pleased to announce our next AMA on January 3rd 2021 at 02:00 PM UTC Time: Satoshi Club x Hot Potato

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hot Potato Telegram group

We will have the following structure:

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

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

Part 3: 300$ – A quiz about Hot Potato

For more details:
Hot Potato – @Hotpotatoglobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

PART 1. Introduction of MirrorBase project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with another crypto project.
MirrorBASE it’s a new algorithm by mirroring $BASE into double-positive rebases.

MiBASE exists to maintain the negative rebases from $BASE into positive rebases, so users will get more benefits from the rebasing process and to avoid the token rebasing manipulation.

The plan of AMA session:

1.  Part – Introduction and preselected questions.
2. Part – Live questions
3.  The Quiz about Royal finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club – @GoldRocket27 and D. | Satoshi Club – @Cool_as_Ice

The Representative of the project:

• Mirror Guard – @d_mibase
• @JWhinsky

Introduction of MirrorBASE

D| Satoshi Club:

Hello, again Satoshi Club!

Gold Rocket | Satoshi Club:

Good evening, dear community!

We conclude our today’s AMA marathon series with MirrorBASE Protocol.

D| Satoshi Club:

@d_mibase @JWhinsky hello guys! Welcome to Satoshi club!

Gold Rocket | Satoshi Club:

Today our guests are @d_mibase and @JWhinsky😉

Mirror Guard:

Hello 👋

Whinsky J:

Hello everyone! Glad to be here.

Gold Rocket | Satoshi Club:

Welcome to Satoshi Club, @d_mibase, @JWhinsky!😊 Thanks for joining.

D| Satoshi Club:

So let’s begin with the intro, please introduce yourselves and your project

Mirror Guard:

Hi everyone, Let me introduce myself. I’m MiBASE core developer, you can call me “De” and I have been in the IT space for 11 years as a full stack developer in various companies. Nice to meet you guys!

Whinsky J:

Hi guys, I’m Whinsky. I’m the one who handles the operational things and marketing on MiBASE and as De partner in this space.

D| Satoshi Club:

Nice to meet you guys!

Mirror Guard:

What is MirrorBASE? MirrorBASE and also well-known by MiBASE is a project underlined by BASE Protocol that brings the new algorithm by mirroring the BASE rebases into double-positive rebase.

Gold Rocket | Satoshi Club:

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

Whinsky J:

Sure, please go 🙂

Gold Rocket | Satoshi Club:

🚀

Mirror Guard:

Sure 👍

Preselected questions about the Royal DeFi

Gold Rocket | Satoshi Club:

Q1 from Telegram user @yellowchamp

Many Rebase platforms are out in the market nowadays, so what is the unique and incredible offer that Mirror Base has that will make people likely turn their heads to your platform and utilize your rebasing mechanism? I am not really a fan of rebase, so how will you convince someone like me to try Mibase?

Whinsky J:

Thanks for the question buddy. The unique thing we have is about our algorithm with a mirroring system of another project, in this case, we do mirroring BASE Protocol.

So, the simple way to understand our project is when $BASE gets a negative rebase, $MiBASE will get a positive rebase with double value.

D| Satoshi Club:

Do you guys think, if it’s possible to create a project which would be mirroring your rebase, which based on BASE rebase as well?

Whinsky J:

Since we’re the one who starts this mirroring algorithm, though it will possible to do it.

Mirror Guard:

Sure, but if some project mirroring MiBASE that same as other they reflect as BASE like other rebase project

D| Satoshi Club:

If BASE gets a positive rebase, what happenin with your project?

Whinsky J:

We will get a negative rebase

D| Satoshi Club:

Makes sense 😄

Whinsky J:

With the limit -90%

Mirror Guard:

Ok let me explain some case

Gold Rocket | Satoshi Club:

Very interesting!

Whinsky J:

So, when BASE got +100% rebases, we will get -90% the details will be explained by de.

Mirror Guard:

CASE  of MirrorBASE’s use 1

A $BASE holder buys $MiBASE at the same time that day $BASE gets a 20% positive rebase and at the same time $MiBASE gets a negative 20% rebase, the base goes back to the peg price and $MiBASE doesn’t have a peg price so the price is fixed by the amount of eth pool and $MiBASE pool at Uniswap 50:50 if a negative rebase then the price of $MiBASE will increase according to the negative proportion obtained, in this position a holder does not get any profit or loss

CASE of MirrorBASE’s use 2

A $BASE holder buys $MiBASE at the same time that day $BASE gets a negative 50% rebase and at the same time $MiBASE gets a positive 100% rebase (2x from negative $BASE to positive), $BASE returns to the peg price and $ MiBASE does not have a peg price so the price is determined by the amount of eth pool and the $ MiBASE pool at Uniswap 50:50 if a negative rebase then the $ MiBASE price will decrease according to the positive proportion obtained, in this position a holder gets 50% profit

CASE of MirrorBASE’s use 3

A $BASE holder buys $MiBASE at the same time that day $BASE gets a positive 300% rebase and at the same time $MiBASE gets an only negative 90% rebase (max negative 90% if base get 100% more), $BASE returns to the peg price and $ MiBASE does not have a peg price so the price is determined by the amount of eth pool and the $ MiBASE pool at uniswap 50:50 if a negative rebase then the $ MiBASE price will increase according to the negative proportion obtained, in this position a holder gets 210% profit

Gold Rocket | Satoshi Club:

Sounds good!

D| Satoshi Club:

Sounds a bit complicated, but interesting as well😊 Okay, thank you guys for the clarification! let’s continue our questions?

Gold Rocket | Satoshi Club:

As far as I understand for the holder, the position is a win-win.

Mirror Guard:

The idea comes because I see many holders and my friend bought $BASE and I saw that many suffer losses when they did not reach the target price and get negative rebased after base FOMO gets 300% positive rebase, and I think if mirror it can help them to reduce losses so create MiBASE as co-asset, so please don’t make $BASE and $MiBASE as a competitor 😁

Mirror Guard:

Sure 👍 Yes of course 😁

Gold Rocket | Satoshi Club:

Q2 from Telegram user @Arabedans

MIBASE With your algorithm changes negative rebases in positive fees with double X. Everyone can readjust MIBASE after $ BASE performs its readjustment by paying the transaction rates. Could I explain how do I realize readjusts in Mibase? Explain also how this algorithm works to make these conversions?

Whinsky J:

So, the way MiBASE works is by hitting the REBASE button and pay for the fee tx to activate the rebase. So, everyone can do rebasing at the same time as BASE rebasing

Whinsky J:

We depend on how BASE going.

D| Satoshi Club:

Ok, I’m also very curious, what would happen with your project, if let’s say, BASE project stops exist tomorrow. what will you do?

Mirror Guard:

We can change and mirroring other projects rebase with community vote as our contract owner is multisig with WOR so we cant change without community permission

Whinsky J:

We can mirroring other projects not focusing on one project.

D| Satoshi Club:

HaHa, nice!

Whinsky J:

Will keep mirroring

Gold Rocket | Satoshi Club:

LoL! That’s very smart! 😁

Whinsky J:

That’s our concept lol.

D| Satoshi Club:

Got it. in this case, you have a Plan B😄

Gold Rocket | Satoshi Club:

You have great ingenuity!👍

Whinsky J:

Exactly, we have to!

Gold Rocket | Satoshi Club:

Tell us a bit about your team btw

D| Satoshi Club:

Ready for the third question guys? After this then😄

Mirror Guard:

For now, we have 2 solidity programmer and 1 web developer including me as core dev and 1 marketing

Whinsky J:

Yes, and we also have a very great community as part of the team!

Gold Rocket | Satoshi Club:

Thanks for the answer👍 A good community is the foundation of a good project!😊

Mirror Guard:

Yes forgot about this one all community part of us

Gold Rocket | Satoshi Club:

Q3 from Telegram user @PaulMonte20

While there is not much information about the Rapids’ functionality (at least not yet I believe), in a recent interview you’ve explained that Rapids (quoting) “[…] will be used by the community of $MiBASE holders to add to their tokens by becoming an LP and for staking. At the same time, the Rapids’ rewards will be influenced by $MiBASE’s negative/positive rebates”. Despite this explanation, I still have quite an unclear picture of the Rapids’ inner workings and mechanism. Could you please describe again how will MirrorBasers be able to use and benefit from this functionality together with LP and staking? And last but not least, how specifically will rebases interconnect with Rapids’ rewards?

Whinsky J:

For our Rapids, De will give you the explanation.

Mirror Guard:

rapids same as other staking LP but we find the best formula for it make more benefit for all staker like tax fee for who claim the reward and turn back into rapids pool, and yes if rebase negative or positive will impact with $MiBASE reward balance, but the reward will same as value total supply

Gold Rocket | Satoshi Club:

I hope @PaulMonte20 is happy with the answer and I have my own question for you 😉 Tell us please about your tokenomics btw.

Whinsky J:

Our tokenomics littlbit interesting tho

Initial Supply: 55,000 MiBASE

and Burnt for about 28,080 MiBASE (unsold token from presale allocation and the rest 18,000 are locked with multisig and our circulating supply is about 7,1k MiBASE. You can find the details market cap here: https://dashboard.mirrorbase.finance/

Its fair distribution

Gold Rocket | Satoshi Club:

Thank you! This was a must-have question! 😉 Can we proceed to the next question?

Mirror Guard:

Yes, sure 👌

Gold Rocket | Satoshi Club:

Q4 from Telegram user @borysfireball

You stated that you are inspired by BASE… But as I follow this situation for a long time I know that WarOnRugs blamed $Base to be a scam project. Then MirrorBASE Protocol appears and gives multi-sig to WarOnRug admin, this means you trust him enough. What is going on? Is this war of rebase projects?

Hmm… tough question …

Whinsky J:

Why we co-sign with WOR is we want to give transparency on our project to the community. I don’t think that this is a war between rebase project. Since we both are on a win-win solution.

Gold Rocket | Satoshi Club:

Thank you for the honest answer! 👏👏👏

Whinsky J:

My pleasure😀

Gold Rocket | Satoshi Club:

Can we proceed? Or you want to add something?

D| Satoshi Club:

I don’t understand the whole premise of this drama tbh 😁 wars on Twitter?

Whinsky J:

We have some info for all community that we are developing our Rapids rn and it will launch at the end of the year.

Mirror Guard:

Ok let me tell you a story from the start when we make some presale one admin base come and make some fud on us so our starting not going well low trust and then WOR come many people there ask wor about our project as you know WOR is a war on rug project and many users ask for make multisig with wor because they don’t want rug by dev and I think this can make more user trust our project after fud by some base admin that’s why we do multisig with WOR

D| Satoshi Club:

Great news! 👏

Whinsky J:

Thought this was a normal situation. it’s a community no one can deny this.

Gold Rocket | Satoshi Club:

Sure!👍

Whinsky J:

But we didn’t called it a war, we saw this as their support for us and so the BASE community

Gold Rocket | Satoshi Club:

Nice. Next question?😉

Whinsky J:

No offense, we thankful for BASE Protocol too. Sure, go ahead.

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Pratze                                                                      

For some people including me, rebase only mean to manipulate the token price. Even the token price is up, it will be only temporarily because others will try to sell and make the price down again. How mirrorbase opinion about this problem? It is important to stay in a civilized relationship 👍

Whinsky J:

Exactly! Wait de will answer that question.

Gold Rocket | Satoshi Club:

Take your time!

Mirror Guard:

Yes normally rebase positive people will take some profit right? use case $Mibase is co-asset as you hold base that means you need to hold Mibase as well, other base holder and need to save their investment for negative rebase they will buy $Mibase or do opposite sell when base negative then buy Mibase or Sell Mibase when base positive then buy more base.

D| Satoshi Club:

What are the next steps in the development? do you have a roadmap? what we can expect from you in Q1 2021?

Whinsky J:

I’m arranging some plans to be added to our roadmap that we will release as soon as it ready

D| Satoshi Club:

Gotcha

Whinsky J:

For now, we’re focusing on Rapids and updating our website, and upgrade its security.

D| Satoshi Club:

Also, vital things👌 Thank you! ready for the last question from this part?

Gold Rocket | Satoshi Club:

Everything is clear to me!

Whinsky J:

Ofc. you can go with the last question

Gold Rocket | Satoshi Club:

Q6 from  Telegram Username @zaferce               

Why does MiBASE prefer the elastic procurement model and thus how will MiBASE bring more benefits in the repayment process, avoid payment manipulation?

Mirror Guard:

Bring it on 🥳 Because the main idea is mirroring $BASE (rebase) have elastic supply that why we do the same way, on mibase there no manipulation because everyone can hit rebase button on our website

D| Satoshi Club:

Btw how often rebase occur during the day?

Whinsky J:

Once a day or depends on BASE rebasing. You can check the countdown on our dashboard. And seems today we will get double positive. Let’s wait till the time coming.

Gold Rocket | Satoshi Club:

@d_mibase @JWhinsky You can post useful links for our community before we open chat for the live questions😊

Whinsky J:

For everyone, we are inviting you to be part of our community by following our social media here:

Website: https://mirrorbase.finance

Telegram: https://t.me/mibaseprotocol

Twitter: https://twitter.com/mibaseprotocol

Medium: https://medium.com/@mibaseprotocol

D| Satoshi Club:

let’s join Satoshiclubbers!

Gold Rocket | Satoshi Club:

Thanks for sharing👍🚀

Whinsky J:

And you can contact me personally if you have any further questions about MiBASE. Thank you, guys!

Mirror Guard:

Thank you to everyone who asks in this AMA thanks to Satoshi Club, our community holder, WOR

Come join us @mibaseprotocol

Gold Rocket | Satoshi Club:

Thank you, guys! It’s really not easy to create something new and not ordinary. You are great! Keep going! @d_mibase and @JWhinsky

D| Satoshi Club:

And now let’s open the chat!!!!  🚀🚀🚀 I will open chat for 120 seconds.

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

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the MirrorBASE crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @BboyForteVZLA

Can you provide your link Uniswap to buy your token?

Whinsky J:

This is our dextool link: https://www.dextools.io/app/uniswap/pair-explorer/0xdaefbed9d35f505444527746393f015b8c84df2b

Q – 2 from a telegram user @Eliasbb

MiBASE is a project inspired by $BASE protocol. So, tell me why should users choose a copy version rather than choose the original one? Thx.

Mirror Guard:

Inspired does not mean copying as we have previously explained we mirror its opposite rebase factor 😁

Q – 3 from a telegram user @Beterror203

Hello @d_mibase @JWhinsky One of the base problems is that they do not calculate the FOMO and this causes a less exact calculation in the base algorithm, how does MirrorBASE calculate these charges based on base?

Mirror Guard:

We capture base supply before and after rebase in our smart-contract that how we how much rebase factor on base then mirror it 😁 so no manipulation on our rebase because supply base cant controlled by Mibase dev

Q – 4 from a telegram user @araceley

Have your smart contracts been audited by any third party firm yet, if yes, have all issues been resolved and your contract now secured? Where can we view the audit report?

Joe Wong:

We haven’t done the audit. if some of you want to audit our smart contract then please do, we are open to it. We have multi-sig on it and I think it can make the community feel secure. thank you.

Q – 5 from a telegram user @LLeeKuanYew

Hello @d_mibase @JWhinsky
What is the relationship of MirrorBASE Protocol with Base Protocol project?

Joe Wong:

We have no relation. MiBASE inspired by BASE and we do mirroring on it.

Q – 6 from a telegram user @K2ice

So when $BASE gets a negative rebase, $MiBASE will get a positive rebase with double value. Does that mean that $MiBASE will get a negative rebase with less value if $BASE gets a positive rebase?

Joe Wong:

Yes, when the base gets a positive rebase the mibase will get negative, so it will decrease your token.

Q – 7 from a telegram user @SutedjaDian

What is the relationship between $BASE and $MirrorBASE? Is MiBASE price directly connected with $BASE token?

Mirror Guard:

We don’t have any relationship with base and our price doesn’t have any peg with base or other, we only capture base supply with their rebase.

Q – 8 from a telegram @Gutike95

Is this new algorithm used in MirrorBASE only functional for the Base Protocol? or in the future could it be used in any other protocol?

Whinsky J:

It can be used for another rebase project.

Q – 9 from a telegram user @A5loveZ3

Have you done ICU, IEO, in any CEX exchange, or IDO in any DEX exchange?

Whinsky J:

We have our presale about 3 days ago. and we’re focusing on growing our community and our LPs

Q -10 from a telegram user @Protradeid

Hi, @d_mibase @JWhinsky My Question: 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?

Mirror Guard:

With trust 😁 good for the project and community as well so we will make that happen.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the MirrorBASE project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

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

Our Crypto Partner by this AMA: Royal.finance

Telegram group  | Tweeter  |  Website  |  Medium  

Post-Christmas AMA brought us a lot of food for mind. And today we would like to tell you about the AMA session with our friends from Drift.finance. The AMA took place on December 26 and our guest was Lord Nami.

The total reward pool was 500$ 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

GoldRocket: We are delighted to welcome our guests from Drift.finance.:blush:

D. | Satoshi Club: hello Satoshi Club! Merry Christmas!

Lord Nami: Hello everyone, Thanks for having me here

D. | Satoshi Club: let’s begin with intro, tell us a few words about yourself and about Drift.finance:blush:

Lord Nami: So my background is full stack dev.
Drift finance is a token that combine many other tokens successfuly feature. like RFI frictionless yield farming + SAV3 LP lock, $TRI liquidity connector, $PRIA buy bonus/sell penalty, $NAMI farm. ITS buy back pressure every hours and other original idea such as dynamic fees.

GoldRocket: That sounds good!

D. | Satoshi Club: nice diversity! so you took the best parts from all these projects and combined in drift.finance?

Lord Nami: Yes, and adding new features too that has dynamic fees based on liquidity. Let me explain some of the features of drift

1. Frictionless Yield Farming
1.5% of every DRF transaction is distributed to all DRF holders directly to their wallets.
This means you can buy the token and hold, your wallet balance will automatically increase by doing nothing.

2. Automatic Liquidity Generation
0.5 % of every DRF transaction is used to build the liquidity of DRF-ETH uniswap pool.
This means eventually we will have enough liquidity that is not owned by anyone, which ensure liquidity for trading.

3. Reward & Penalty
Buyers receive 4% buy bonus reward, sellers pay 2% sell penalty.
This means we reward buyers and holders.

4. Dynamic Fees
Fees are adjusted automatically based on liquidity state (Normal, Drift, Brake).
This means tax will be adjusted when liquidity is low to increase the liquidity.

5. Constant Buy Pressure
Contract will buy back DRF every hour using rebalance function.

6. Deflationary Token
Everytime buy back occurs, it will burn and lock received DRF.
This will make the total supply low. right now 19% of total supply already burned.

7. Partner Liquidity Connector
Ability to generate liquidity for DRF-PARTNER and generate rewards for LPs.
This will enable drift to partner with other project and bring more values to both tokens holders.

Thats it the features for now.

D. | Satoshi Club: good opportunitie to earn a passive income:ok_hand:

Lord Nami: You are correct. It’s a nice way to earn passive income.

D. | Satoshi Club: no mercy for sellers as i understand?:smile:

Lord Nami: Yes, we encourage buyers to hold, and earn them nice amount of interest.

Q1 from Telegram user @ovkneze_big

Explain, please, I do not quite understand what it means “it will burn and lock received DRF.” I thought that if a token is burned, then it does not need to be locked?

Lord Nami: I see, so burn in DRF means the amount of token will be locked forever inside the contract and cannot be owned by anyone.
The reason it’s not sent into burn address is to prevent burn address balance to grow by receiving yield from transactions.
Remember, that in DRF wallet balance is increased by its self, so we don’t want the burn address receive most of the interest.

We want the holders receive the full interests.

I hope that clears the lock meaning

GoldRocket: This is an unusual system. How did you get the idea for this?:wink:

Lord Nami: I am just thinking for the benefit of the DRF holders, we don’t want burn address balance increase and taking passive income from DRF holders. In the sense it’s the same 🙂 the token can’t be owned by anyone when it’s burned.

Q2 from Telegram user @konditer_rolex

Is it true that this is your third project this year? What happened to the previous projects? I am sure that you have gained experience, but I want to know what this experience was. Did you make many mistakes?

Lord Nami: Yes, the previous projects still running. I incorporate them into DRIFT finance too, so they can use their tokens to farm DRF. DVD finance is still earning passive income too in form of dividend.

D. | Satoshi Club: so now are you CEO of all three projects?:grin:

Lord Nami: You can say that, but in defi we don’t have “real” CEO right, since it’s decentralized and community driven.

D. | Satoshi Club: yep. tell as a bit about your team? are you working always with same people? from project to project?

GoldRocket: Amazing way!:+1:tell us about your team of like-minded people?

Lord Nami: Yes, currently the dev is myself, and my team is me with my community mods, many of thems are from mods from my previous projects.
they give me great inputs about the tokenomics and what do people want in the project, so i adjust and hear from their opinons. 😉

They also suggest to do satoshi AMA, so here we are 🙂

GoldRocket: How many people are on this team?

Lord Nami: 8 people

Q3 from Telegram user @yellowchamp

As one of your feature which is a Fair Launch which stated “Not a clone, No presale, Circulating from 0. Buy on launch has limits to prevent bots”can you elaborate more about this statement? If the circulating supply is from zero, is there any possibility that your token will be deflationary ? If there is no presale ,how will you possibly get funds for liquidity for exchange listing? If you’re not a clone, what makes Drift Finance unique among other platforms? As an investor, how worth it to spend and invest money with your platform? Thank you!

Lord Nami: Yes the token is deflationary since the protocol will buy back DRF from market and burn it.
The liquidity is provided by people who farm DRF token.
Yes, the thing that make it’s unique is the combination of many of the features that we have discussed in previous AMA questions.
As investor you can get buy bonus by just buying on uniswap, and earn passive income just by holding.

Hope that answer the question.

GoldRocket: Thanks! Btw tell us please about your tokenomics. For example, how many tokens does the team own?

Lord Nami: The total max supply is 10 millions DRF.
Right now the circulating tokens is around 4 millions (40%) DRF.
1.9 millions (19%) DRF is already burned and cannot circulate anymore.
Team join the live sale just same with everyone else since it’s fair launch.
but there is 500,000 DRF (5%) allocated for marketing.

But to quote from the original tokenomics page:
Total supply is 10,000,000 DRF. Circulating starts at 0.
4,000,000 DRF for live sale supply.
3,000,000 DRF for farming rewards.
2,000,000 DRF for LP supply to provide liquidity.
500,000 DRF allocated for marketing.
500,000 DRF allocated for principal, and it’s yield is used to reward LP provider when partnership occur. This principal is not owned by anyone.

hope thats answer the question.

D. | Satoshi Club: got it! and when we can see DRF on other exchanges, except Uni? perhaps are you planning to work with some CEX exchanges?

Lord Nami: Sure, we are open to expand to other exchanges.

GoldRocket: can you share which ones are in your field of vision? If this is not a top secret 😉

Lord Nami: Right now our current goal is to create more exposure about drift by doing AMA and youtube campaign.
We haven’t contact the exchange though, but will definitely put that on list.

GoldRocket: This is a very correct strategy! By the way, share some useful links for our community! :pray:

Lord Nami: Website: https://drift.finance
Contract: https://etherscan.io/address/0xe5E81B3C76491898e647dEf755c8CA3e49d315Aa
Dextools: https://www.dextools.io/app/uniswap/pair-explorer/0xcbf00c846d3c28babfe65e7dadfd48eb92ee85e6
UniSwap: https://app.uniswap.org/#/swap?outputCurrency=0x2a834c4D2D50CAFdCA530211581165026Ee49AB9
Twitter: https://twitter.com/DriftFinance

Q4 from Telegram user @Highpee

Drift finance have 3 liquidity state: normal drift, brake drift and stake drift. Tax and Yield for each state are automatic and may also be different. What is the uniqueness of each liquidity state? At what point will the protocol add liquidity and what factors determine the tax in each liquidity state?

Lord Nami: The uniqueness of the liquidity state is the dynamic fee, so for example when the liquidity is low, the protocol can automatically adjust to distribute the transaction fee more to liquidity, so the token will have healthy liquidity for everyone to trade. The protocol will add liquidity every hour when rebalance is executed.

hope thats answer it

Q5 from Telegram user @Brainchest

We all know that liquidity pools have the disadvantage of non-permanent losses. Do You have a solution for this and if so how does this solution work? It is very important

Lord Nami: Yes, the solution for this currently is using the transaction fee to add the liquidity, so that liquidity is hold by contract and not owned by anyone.
Eventually, the people can trade even there is no one provide liquidity on uniswap, since the contract will not withdraw it’s LP.

Hope thats answer it, let’s we proceed to next question

Q6 from Telegram user @zaferce

How is the limit rate for withdrawing bet LP tokens set and how will taxation be charged when we claim our rewards?

Lord Nami: The limit rate for withdrawal is 10% per day if you are staking LP using the website, it’s compensated with DRF farming.
The LP in the website is to provide initial liquidity and stability, eventually the contract will have it’s own liquidity from tx fee (since it’s one of core DRF feature).
The tax is 10% when claim DRF rewards from DRF farm.
However, the tax it’s self actually can be claimable using tokens from drift.finance sibling projects ($NAMI tsunami.finance and $DVD dvd.finance)

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Alika061

what percentage can I get from that Frictionless Yield Farm to my wallet which holds $DRF tokens and what about the percentage with automatic liquidity earnings to build uniswap DRF-ETH pool liquidity then where can I buy $DRF tokens #DriftFinance ?

Lord Nami: You just hold and earn 1.5% from each tx. Your wallet balance increase instantly. You can buy $DRF using uniswap. Go to https://drift.finance website and click buy button on top right of the screen.

Q2 from Telegram user @Spott

Explain to us about DRIFT.FINANCE dynamic fees ?

Lord Nami: The dynamic fees is based on liqudity state, when liquidity is low, the protocol will distribute more tx fees to build liquidity.

Q3 from Telegram user @AmirJosh

$DRF tokeholders can just hold and earn . When will be the distribution of rewards takes place. Will it be daily distributed?

Lord Nami: It distributed every transactions. Try and buy it, and see your wallet balance increase every time, enjoy passive income.

Q4 from Telegram user @Jonahapagu

In your Contract there is a rebalance function to buy back DRF every hour… How is the amount of DRF to be bought back by this function determined.. does this happen at exact same time every hour, what happens each time this rebalance function is triggered.. and what happens to all the Bought back DRF tokens .

Lord Nami: There is countdown in the website when the rebalance function is available. The bought back tokens is burned meaning it will be out of the circulation. Less supply will make it’s scarce and increase the value.

Q5 from Telegram user @NataliyaKil

All DRF holders receive passive income. How is it calculated, what does it depend on and can I delegate this opportunity to someone: a relative or a friend, having sent him my DRF?

Lord Nami: It’s calculated by having 1.5% fee on each tx, Yes you can send DRF to friends as xmas gift and tell them they will earn passive income as the balance will grow by it’s self.

Q6 from Telegram user @phule13141912

Will 1.5% of every DRF transaction is distributed to all DRF holders or only among those who made the transaction? And Can the proportion of holders receiving tokens increase further with the number of people joining in DRF ecosystem??

Lord Nami: It will be distributed to all holders depending on your balance, the higher your balance, the higher your passive income will be.

Q7 from Telegram user @Xusuo

as i know from yield farming project is having big weakness.That is farm project isnt sustainable because most farmer after getting reward, they will only sell,sell, and sell which make the price down.So how is Drift Finance handle this kind of problem?

Lord Nami: There is incentive to hold, you can earn passive income just by holding.

Q8 from Telegram user @alyaakin

Right now do you partners in your DRF-PARTNER project to generate more liquidity?

Lord Nami: We are approaching few other projects right now to do partnership

Q9 from Telegram user @smelekin

How can I earn DRF without staking any coins? How is it possible to get DRF coins with just holding it?

Lord Nami: Yes, you just buy on uniswap and hold it, you will earn DRF coins magically in your wallet.

Q10 from Telegram user @A5loveZ3

What is your favorite car for drift?

Lord Nami: ae86 haha thats bonus question

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Drift.finance. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

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:

Drift.finance Community: https://t.me/DriftFinance

We are pleased to announce our next AMA on December 28th 2020 at 12:30 PM UTC Time: Satoshi Club x SlicerFinance

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

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

We will have the following structure:

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

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

Part 3: 400$ – A quiz about SlicerFinance

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

Welcome to another episode of our AMA series, the end of the year is coming and we continue introducing you interesting investment projects. Today we are glad to tell you about the AMA session with our friends from finance.vote. The AMA took place on December 23 and our honorable guest was the founder of the project, @DrNickA.

The total reward pool was 1000$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with finance.vote! welcome to Satoshi Club. 😀

@DrNickA welcome to Satoshi Club.

Dr Nick: Hey everyone.

Gold Rocket | Satoshi Club: To be begin with, please tell us a few words about yourselves and how did you get to be involved in finance.vote

Dr Nick: Hey all, actually our second time here, thought we’d check in with your community and fill you in on what’s happening on the network. I’ve been an academic for all my professional career so I came into this from an academic point of view as a researcher. Now I’m putting it into practice with the finance.vote network.

I’m obsessed with token economics and social consensus and how that can change the world for the better.

Gold Rocket | Satoshi Club: Thanks for joining! so what interesting happened to you since our last meeting in Satoshi Club. 😉

Dr Nick: Pleasure to be here, hope everyone is well! It’s been probably the most intense few months of my life, but pretty amazing. We launched our vote markets which you can check out here: https://financedotvote.eth.link

We auctioned our $FVT token in a new token economics event we called a liquidity bootstrapping event. We did this on our decentralized auction application https://auctiondotvote.eth.link. We’re just gearing up for our next big product launch, which will be a consensus app called yield.

Mary | Satoshi Club: We can vote for 5 projects currently, right? 😀

Dr Nick: 10 in the list at the moment, but we’re going to be adding more.

Gold Rocket | Satoshi Club: What is it and what else is in the plans?

Dr Nick: We’re going to releasing a snapshot voting tool called “Influence” in the new year, which will be token weighted voting that uses our consensus mechanism to break plutocracy. People will use that to see what new feeds are added to our vote markets. When they’re added people can vote on their performance and earn money for being correct.

Mary | Satoshi Club: How many users did you get recently? Any statistics? How much rewards were payed?

Dr Nick: We’re building a dashboard for all this soon, it requires some on-chain analytics. But you can see we’re getting upwards of 100 votes on some tokens.

Our users share a 100k $FVT reward pool. We had one user claim over $300 in $FVT this week.

Q1 from Telegram user @maxzerone

finance.vote provides market alpha, project validation tools and influence formation for any project in crypto. How do you make the project validation and influence formation?

Dr Nick: Ah nice question. So market alpha is any advantage you get from just holding the asset. So, information that gives you a market advantage. We think we have a tool that aggregates everyone’s perception on the market order and that data can be used as a sentiment tool for trading.

Projects are validated by user votes, so people say this project is good and the more people that do, the more that project floats to the top of our token lists and enters our markets. Influence is formed by earning or buying $FVT. The more you have the more voting power you get in our governance tools.

I think people will learn about how all that works by voting, we’ve built a system that incentives participation with voting power.

Q2 from Telegram user @nagy_szabo

I see the term market alpha on a lot of your documents and articles. What do you mean by that? Is it something related to the male alpha? like the best market, the leading market.

Dr Nick: Haha like alpha male? No, although I think the bankers that came up with the term see it as that.

If you’re not a good trader you should basically not bother trying to trade, because the people with alpha will take money from you, especially in new tokens people with lots of capital have more alpha that you, basically market knowledge.

If you have alpha you have some insight into the future, or at least you have an idea that there is a higher probability chance that something will happen. Our vote markets pay people for giving that information to us. We compile it all together into a preference list and those that have the most alpha win the most over time.

Mary | Satoshi Club: With new tokens doesn’t work even for good traders.

Dr Nick: Yeah totally, our New Tokens market will go right down to the source. People who are good at spotting scams could earn a lot of money from it.

Mary | Satoshi Club: Don’t you think that these predictions sometimes just expectations? Not based on knowledge?

Dr Nick: They also get more voting power.

Gold Rocket | Satoshi Club: I have a stupid question 😁 Girls can be crypto alpha according to your theory?

Dr Nick: I’d bet that girls are better at finding alpha than boys. We need more girls interesting in crypto and markets!

You can think about every voting as having their own strategy, the ones with the best will have the most voting power over time, crowds generally aren’t wise, you need reputation systems to pick them out.

Potentially, there’s some people who will earn power from being contrarian and correct and some that earn from just following the crowd. Whichever has the most impact on the market are the ones that rise to the top.

Q3 from Telegram user @arlarson

You aim to give the power to the minority token holders by creating token specific miniDAOs. How will you do that? Will you exclude the major holders from this decision making? Because even if the DAO are mini, the big players can still participate.

Dr Nick: Yeah this is a great question, so in reality most blockchain governance systems are run by a hand full of people because they hold all the tokens. 1 coin 1 vote leads to plutocracy, or the rich run everything.

In our system we have a vote power $V, which determines how much influence you have it can be earned via participation and via buying the tokens. I’m going to get you a screenshot of our consensus mechanism to explain it.

Everyone takes a voting slot. How much power you have is determine by the amount of tokens, but not 1 coin 1 vote, it’s which slot you’re in. The top token holder has the most power, by only as much as the next 2 people, and the next 3 people, 5 people and so on. There’s a top dog, but they don’t have power that proportional to the size of their capital, in some cases someone could have millions times more voting power that other people.

Mary | Satoshi Club: So, the better predictions you made the more powerful is your vote.

Dr Nick: Yeah, but also how much $FVT you hold. We want there to be two routes to power.

Q4 from Telegram user @anditgoestome

Please explain to us what are the advantages of quadratic voting in your project? Why do people have to buy votes and what is the max. number of votes that someone can buy?

Dr Nick: Well, this topic of quadratic voting is huge. I could talk about it for hours haha.

Mary | Satoshi Club: Can you explain it to us like for non-math persons? 😂

Dr Nick: Sure, it’s pretty straightforward but is a very powerful idea. Typically in a democratic setting you can only vote once, pick one of two or three etc. In quadratic voting systems you can vote more than once if you pay, but it costs the square of your votes.

Just in case anyone wants to go down the rapid hole on it, in our system we give people a budget of voting power to spend and it costs them more to vote on a single item. It encourages people to vote on preference. We’re using a special case of it, which asks people to sort lists by preference. We call it semantic ballot voting. If one of the tokens you picked ends up being the top gaining token you win some money back.

Mary | Satoshi Club: Btw, were there any attempts to deceive the system?

Dr Nick: We’ve planned on it, if it’s free to vote then you get spammed or you have lots of people setting up lots of accounts, this is called a Sybil attack. To mitigate this we’ve added an ID system, where you can set up multiple accounts but it costs you money to do so. If you want to do it a lot though the price of identities gets very expensive.

Anyone with an identity becomes a finance.vote Citizen and is welcome into our token gated community. The identities are NFTs, which carry around your reputation.

Mary | Satoshi Club: Which preferences he will get after this?

Dr Nick: You get voting rights in all of our governance system and you get paid for voting. We’re giving $250 away to voters in a meme competition this week in the Citizens chamber.

Q5 from Telegram user @peachespecos

How exactly will the second layer governance system improve the collective intelligence of the network? Can you give us some examples?

Dr Nick: Deep question this one. I could probably build a Masters course out of the answer. I’ll try and break it down a bit. Collective intelligence is the sum total of everyone’s brains engaged in an organization, it’s a powerful thing, get enough minds together and you can solve pretty much everything.

What we’re missing is tools to be able to reach consensus. Throw everyone into a room and ask them to do something and they’ll be unproductive, give the voting technology and they’ll reach agreement quicker and get stuff done.

Our second layer governance system is made up of three apps, Influence, Proposal and Decision. Influence is like rough consensus, fun and games voting. We’ll do meme competitions and vote on what tokens are next in the vote markets. Proposal is when people want to start getting serious and potentially bid for money. Decision is when we make a final decision on it and it’s serious stuff, it changes the smart contracts and monetary policy. So an example would be, we want to increase the reward pool to open up a new vote market, which means minting more tokens. Should we do it?

We might talk about it for a while in influence, put some concrete suggestions together in proposal and execute the code in the decision app. Second layer governance is taking that chatty phase into different areas and providing good tools for doing it better.

Mary | Satoshi Club: Are there any disadvantages to this system?

Dr Nick: There’s always a cost to more governance, there’s a cost to the system for incentivizing the users to vote and there’s the greater work required to keep all the cogs moving. Classic organisational theory tells you that the more complex you get the more the costs of running the organisation are, we’re building the tools to make it cost effective and trust worthy.

Q6 from Telegram user @Bradyfreddy

Using the identity staking, staking users will win 10% of the profits. What about the person that made the prediction? What will they get?

Dr Nick: Someone’s been reading our whitepaper. That makes me happy :). Let me get another pic.

This is how our staking will work. Everyone votes and those who had a vote on a winning token gain a share of the staking pool. If you don’t vote on a token then you lose your stake and the winners share it. The network burns 10% of the pot.

The other aspect of the social trading and staking system is that communities can pool money and decide how they want to invest it together, so in this group for example you could pool ETH and vote together on how you want it allocated. The people in here with the best ability to predict the market get the most votes.

Mary | Satoshi Club: Pools will be on your platform, right?

Dr Nick: Yeah, well you can access them through our front end but they would be a shared smart contract on the blockchain.

Mary | Satoshi Club: Is it safe enough?

Dr Nick: We’re completely decentralized, same as providing liquidity to uniswap. We’re setting up a security and auditing process whenever we start pooling people’s money.

Mary | Satoshi Club: Great👏 thank you! Did you already find audit firm? 😄

Dr Nick: We’re working with three at the moment. We’re on the hunt for the best in the space. We actually want to get auditors voting on which contract is most likely to get rekt in the near future.

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @Idee01

You stated the team have 4 exciting partnerships lined up and the launch of our liquidity mining app“Yield”at the end of January. Can you give us a sneak peek/hint into these partnerships or is it a secret? Will there be a mobile and desktop app?

Dr Nick: Someone’s been paying attention, think I only mentioned this today. I can give you some hints, we’ve got a major oracle partnership coming up, we’re doing something big with sports and NFTs, we’re partnering with what I think will be the next Aragon and another project focused on community tokens. But keep that all quiet. 🤫

Q2 from Telegram User @Pratze

I read that Finance Vote currently held an event Tournament that possible to win prize 100.000 $FVT/$650 USD every week just “by voting in assets from the cryptospace”. But to voting, there is a requirement for user to mint identity, can you please share how to mint identity? Any guide about this?

Dr Nick: In order to mint an NFT you need at least 100 $FVT and then you got the “Mint an Identity” button on our markets app https://financedotvote.eth.link. We send you an NFT back then you can select your identity and vote. It just costs you gas.

Q3 from Telegram User @Maksyrn

Your WhitePaper has a subsection called REKT. Reading it did not understand what it was for. What does it mean in practice for users?

Dr Nick: I think all the markets can be considered practice. The REKT market is a prediction in which contracts may get hacked and lose funds.

Q4 from Telegram User @apocan99

What is the rule for winning in tournament and how is the reward distributed to winners?

Dr Nick: You just need to have some votes on the winning token. You can actually vote on all the tokens if you want, but voting on more tokens costs a bit more gas. If you have 10 of 100 votes on a token you get 10% of the reward pool.

Q5 from Telegram User @JP_Morgan_Chase

What is Decentralized Digital Democracy? Who can become a citizen of your digital democracy and what are the benefits of obtaining citizenship?

Dr Nick: It’s where I think society will end up. We become citizens of digital nation states and contribute to the governance of how it’s all run by voting and working on your own financial system. Users benefit by taking part in governance and getting a share of the token rewards as part of the emission schedule of tokens. All the tools we’re building are what’s needs for organising as humans in decentralized organisations.

Q6 from Telegram User @atillayeni

Can you make another system for crypto finance projects to add their coins in your system and get some criticism from there from community?

Dr Nick: Yep! In fact the token holders will vote every week to decide which tokens are worthy of being in the list. We want a consensus driven list of the top tokens in crypto. What goes in will be up to the users.

Q7 from Telegram User @Korryl

We can get 1 NFT with pay 100 $FYT and then it’s possible to make it unique by give them more detail as we like, is it same with avatar? I mean in social media or bigo we can edit out avatar and give them dress or accessories, it’s like that? Do we possible to create more NFT by paying more? For example, I have 500 $FYT so that mean I can have 5 NFT?

Dr Nick: You’re on to where the identity system is going. You’ll be able to customize them like avatars yeah and you can spend $FVT on upgrading them.

Q8 from Telegram User @lchongthu

DITs took the form of ERC721 compatible NFTs, which represent an identity within the system. Can DITs be TRADED anywhere (like NFTs) in the marketplace other than obtaining them via $FVT?

Dr Nick: They will be tradable and we’ll have our own auction system and market place for doing it. Your reputation carries with the NFT, so high voting tokens will be objectively worth more.

Q9 from Telegram User @taemin_vj

About Top Gainers, how high are the rewards? Do you get enough participation from your community in this method? How many benefits do they generate?

Dr Nick: We’ve had users report 20-30X returns on their gas costs. Even with a low token price at the moment, the dollar amount returns are really good.

Q10 from Telegram User @yzmoney

A lot of have happened since your last AMA, you’ve had your auction for your FVT tokens which ended having 850 ETH was collected and paired with 19.6m $FVT to discover a listing price of $0.02. How do you feel about the auction result and is the funding enough to keep the platform running for 2-3 years? What could have been done better for the auction?

Dr Nick: Really good question. Yeah, I’m really happy with the outcome. We did a genuine first with that auction and I think a handful of people got the potential of what we did. We discovered a price for the token at $0.02 over 7-8 hours of auctioning. Anything under that and I feel we’re undervalued. Importantly, we didn’t keep any of the money from the public auction. It’s all locked as liquidity in our uniswap.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Finance.vote. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 700$ 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:

finance.vote (Discussion): https://t.me/financedotvote

Today we are glad to tell you about the AMA session with our friends from DEXToken Protocol. The AMA took place on December 19 and our honorable guests were Alistor Zimon and Rim Slim.

The total reward pool was 2000$ 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 DEXToken Protocol! welcome to Satoshi Club. 😀

Alistor Zimon: Glad to be here! 😊

Rim Slim: Hi guys!

Mary | Satoshi Club: How was your day? 😃

Rim Slim: To be honest pretty crazy. I woke up this morning to a 40% price increase overnight, it seems like your community has been looking forward to this AMA. We have been working hard the last months so it’s good to be able to show our product finally.

Mary | Satoshi Club: Oh, it could be! You have a lot of news as i see recently 😃 but let’s start with your intro first and intro of your project!

Alistor Zimon: I’m Alistor, a long term crypto investor and blockchain enthusiast. I’ve joined the DEXToken Protocol to aid their business development team in August.

Rim Slim: @AlistorZimon introduced me to this project, the team behind it and asked me to join to help with the community and the communication. I’m happy to say the more I have been involved the more interesting it gets.

Me myself have a similar background as to crypto and I help with the translation of the “tech” and our community.

Alistor Zimon: The DEXToken Protocol is quite ambitious and serves several purposes. For the sake of simplicity, I’ll try to keep it brief. At the core is the decentralized DEXToken Swap exchange, featuring an advanced and unique AMM which outperforms existing AMM models in regards slippage prevention and performance.  The $DEXG token serves as a governance token for the DEX and Protocol and will reward $DEXG holders with a share of the global transaction fees on the DEX. Digging deeper, we connected the DEXToken Protocol with the Flowchain ecosystem, utilizing its IoT off-chain capabilities.

Combining these cornerstones we are creating a powerful DeFi protocol benefiting private users and enterprises alike.  Now I believe most of this will sound quite ambiguous to most people, but I’m sure this AMA will help to increase the understanding of what we are building.

Q1 from Telegram user @isd_orban

Your staking programs are inspired from Greek mythology: ‘IGNITION’, ‘LUNA’, ‘CALYPSO’, ‘PANDORA’, ‘PROMETHEUS’, HYPERION. Who are next? Hercules, Poseidon? who came with the idea to name them this way?

Rim Slim: Aah yes, I’m happy you picked up on that. Since our staking has 8 rounds, we wanted to only to make sure every round has its own identity, but also have a nod at crypto in general. Although the names come from Greek mythology, we are actually referencing 7 moons.

And the first round, which was ignition, was the stepping stone for our project. To the moon, but 7 times!

Mary | Satoshi Club: Do you have full guide how to join Hyperion?

Alistor Zimon: We have a guide on how to join the medium rounds posted on our medium account. The process for Hyperion is the same as for our previous rounds. For reference see: https://medium.com/@dextoken/dexg-luna-staking-round-161641489913

In a few simple words, people can buy DEXG, add them to our Balancer Pool and use the received Pool tokens to stake at https://stake.dextoken.io to receive more DEXG.

Rim Slim: https://dextoken.medium.com/presenting-hyperion-dexgs-6th-staking-round-28b5f0ced8fa

This is the article for our latest round, it contains all info, and of course we are always ready for questions in our communities.

Q2 from Telegram user @blockmen

It is very original to distribute all the remaining tokens through staking in 8 stages. At the end of the 8th stage there will be 48150 tokens. However, I see there is a final mint stage of 3500 tokens. To whom they will be distributed and what about the tokens left until the total 55000 supply?

Alistor Zimon:We expect a total supply of 55,000 DEXG after the final round concluded. This includes 10% of Team and 10% of Fundraising tokens (Marketing, Partnerships). 2,000 of these have each been minted in round 1 already, the 3,500 are the remaining to fill the 10% quota.

Mary | Satoshi Club: Are team tokens locked? If yes, for what period?

Alistor Zimon: This is our latest projection for the supply evolvement including the final staking round and mentioned final mint. There will be no additional tokens minted after that.

All tokens will be circulating supply, since we neither want partners, private investors or single team members, as well as contractors discouraged to engage with the platform or doing their best for the project.

Q3 from Telegram user @filippsubzero

I’ve read your disclaimer and I’ve seen something interesting. I’ve never seen a project mentioning that: Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the DEXG and the platform, including the utility of the DEXG for obtaining services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.

We know there is a lot of speculation around this subject but no proof yet. Don’t you think that if there will be a solution to easily decrypt, then we will have a solution to encrypt as well? These things come at the same time. So, I don’t think we have to worry about this. Tell us your opinion about this and why you decided to add this in the disclaimer.

Alistor Zimon: Interesting mention! The crypto sphere in general avoids mentioning the risks associated with investments or the technology. However, Quantum Computing poses as a high risk factor as it is able to make the existing algorithms redundant and we think that it’s only fair to mention it towards potential investors.

Yes, I’m sure that cryptography can advance to a more complex state leveling the advantage of quantum computing again. In its current state the Ethereum network, or all cryptocurrencies, would be prey to such a technological advancement though.

Rim Slim: Also please keep in mind, this isn’t really a question regarding DEXG specifically but one that affects all of crypto, internet, banks, airlines and even things like using your phone and how its connected to networks.

Alistor Zimon: Since our dev team takes high interest in the quant theorum it got our attention and for transparency reasons it found its way into our disclaimer.

Mary | Satoshi Club: Doesn’t he want to create his own quantum computer?

Rim Slim: Our CEO is a quantum mind! No need 😉

Alistor Zimon: Well, certainly our lead dev Jollen Chen has a high interest in quantum technology. We’ll let you know when we made that technological breakthrough! 😉

Q4 from Telegram user @dani_minkovicz

You implemented the brand-new Speculative AMM. I’ve tried to understand it’s functioning principle but I am not tech. I didn’t quite get the point. How does it determine the price of the token based on the volatility?

Rim Slim: Oh boy, this is so fascinating but also hard. We have published a technical paper, and a whitepaper after as well where we explained it a bit more plainly, but it’s still complex. Beautiful but complex.

Mary | Satoshi Club: Yes, I was reading twice😂 but still don’t fully understand Speculative AMM.

Rim Slim: We will try to bring it back to basics as much as we can, here goes:

Put in another way, every user will have a private version of the algo running while connected to our dex, and since the algo is based on volatility, supply and many more parameters it can make this decision independently. This is really groundbreaking.

Why is this groundbreaking you may ask? Well safety in DeFi is a big concern. People getting rug burns from rugs being pulled, lots of attack vectors. So any info you take in from an outside source has the potential for manipulation. Another big one and the basis of why our DEX is setting out to become the next technological baseline in DEXES is the fact it’s so efficient at pricing, slippage will become less and less of an issue. Everyone who bought something on Uniswap knows this. You press the button and hope it will go well, we are fixing this!

The biggerr the overal DeFi space, the more effective our algo will be. This means a positive feedback loop, in favor of our own dex and our users of course.

Alistor Zimon: Actually there is no basic way to explain the AMM, since it’s all based on complex math and quantitive finance. We created the Tokenomics Research Center in Taiwan in cooperation with the Mathematics dept. of the National Taiwan University and the Quantitive Finance dept. of the National Tsing-Hua University in Taiwan.

The result of this cooperation can be seen here: https://dl.acm.org/doi/pdf/10.1145/3341105.3373891

Looking through this document, the complexity of the AMM will become obvious. The Speculative AMM utilises this set of fomulas automatically calculate and adjust the pricing.

It’s a mathematic algorithm if you will, that runs on the solidity code of Ethereum to fulfil its function.

Since Rim mentioned slippage, let me share this comparison of our AMM with the Constant Product function AMM, which is used by Uniswap for example. Our AMM manages to smooth out the trade execution a lot more efficient, which allows for a decreased impact of the slippage.

Rim Slim: But into simple words though, you will be left with more tokens, less fees and more security. And this in a beautiful package that we will implement in many markets!

Alistor Zimon: Losses due to slippage are a huge factor, especially when we start to speak about the order magnitude of institutional investors.

(Thanks to Peanut Trade and ICO Analytics to provide this graph and data at this point).

Q5 from Telegram user @mag_crypto

In your latest Dev update (Security, Security, Security), you mention the Oracle Exploit of 89 million$ on compound. It is related to the manipulation of the price on one exchange, which set in motion other events. Tell us how are you going to prevent such event in your ecosystem and was your plan tested in reality or for the moment it is just a theory?

Alistor Zimon: First of all, we don’t rely on external oracles, so it’s impossible to utilise an exploit like this against our platform. The AMM derives the pricing data directly from the underlying blockchain, in this case Ethereum.

Rim Slim: Yeah, this loops back into what I just mentioned. We can’t be manipulated through outside info like in this case. In this case there was manipulation on one exchange, and this price value was given too much weight, which pushed many loans into liquidation.

Mary | Satoshi Club: As i remember that was Compound, right?

Rim Slim: Yes, although the exploit was to abuse the weighted average of what fed the oracles price.

Mary | Satoshi Club: So, manipulations are impossible with DEXToken Protocol?

Rim Slim: This might always be possible in a way, but you can do your best to avoid it and this is what we do.

Mary | Satoshi Club: Alright, one more question from me, what about your platform security?

Rim Slim: This is why we have bug bounties, use various external security firms, use onchain analysis and are enough to understand here is always someone who is smarter than you.

Alistor Zimon: For our DEX we will open the code and command line to the public with the upcoming public beta and hold a bug hunt. At the same time the code will be revisited by at least two security audit companies for final clearance. Our platform has been designed with maximum security in mind, which is also part of the reasoning why we coded it from scratch ourselves.

Q6 from Telegram user @Antonerem

Flowchain Foundation, your company, was established in 2018. What have you achieved in the previous years since the foundation and what were you mainly focused. With what successes and problems on the road.

Rim Slim: Now this questions harks back to our Ceo Jollen Chen. You have to understand that DEXG isnt just a standalone dex which is being developed. It is part of an ecosystem that Flowchain has been building for years now, and which we have a roadmap for that stretches until 2025. We are just lucky enough to jump on board at this stage, due to crypto developments, DeFI and of course all the experience Jollen and TEAM have been expanding on nonstop.

Mary | Satoshi Club: What is your plans for the nearest future?

Alistor Zimon: We are stepping out a lot of the DEXToken Protocol territory here. The Flowchain Foundation created the Flowchain network, which is an IoT technology that could use an AMA on its own to fully explain it. However, as a company Flowchain managed to attract several partners for IoT projects and has been mentioned among the top 10 IoT solution providers in the Asia Pacific region in several rankings and articles. DEXG has been the next step in the Flowchain ecosystem, allowing for the interconnectivity of IoT applications and decentralized finance.

Rim Slim: This is something we really want to share today. We are about to launch the public beta of our dex, and would like to share a little sneak peak of what’s to come.

Keep in mind this is the public beta from couple of days ago, as we are pushing commits every day and it will keep morphing untill V1.0.

Alistor Zimon: The public beta will officially accessible on the Ropsten network from the 23rd December for everyone to test, bug hunt or just take a look. The Mainnet platform should go live in early 2021, but we surely will update you again once we have the date set it stone! 😊

---

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 @regard94

Could DEXG technically mint for example NFTs for Liquidity Providers? Some rare one’s for example. 🙂

Rim Slim: Most definitely and we are already working on frameworks that will not only make it possible but we have some ideas of our own. It’s a very fascinating topic and we will have more on this in the future, no doubt!

Q2 from Telegram User @DrCassiterite

Can I use AMM to arbitrage transactions DEXToken Exchange and other exchanges?

Rim Slim: Definitely! Actually you can see our sAMM as a tool that can be used in many ways, its all up to the users, and keep in mind that fees will be distributed amongst DEXG holders so this is a very interesting aspect. More volume, happier DEXG holders.

Q3 from Telegram User @krispykreme

Can you give us more information about the secondary token?

Rim Slim: Hi thanks for your question. I can, we haven’t touched on it yet today, but to attract liquidity we will issue a secondary token that will be used to pay out rewards to DEXG holders, Liquidity Providers and there is even a surprise coming for our stakers so keep staking!

Q4 from Telegram User @amos757

Are there any beneficial potentials your projects have that is yet known to the members?

Rim Slim: Yes we are working on a set of pro trading tools that will be accessible to our users, but more on this soon!

Q5 from Telegram User @bulbul03

How does DEXG has been the next step in the Flowchain ecosystem?

Alistor Zimon: The DEXToken Protocol has already been part of the original Flowchain Whitepaper. Companies and enterprises can use the Flowchain IoT Networks for their processes or to tokenize assets. To mint these off-chain IoT tokens DEXG is needed as collateral, at the same time the tokenized assets can be traded and monetized over the DEXToken Exchange. This gives both, the Flowchain IoT Network, and the DEXToken Protocol additional use-cases and value.

Q6 from Telegram User @Calebkure

What makes you so sure that you would be dominate in the blockchain space? Can you expand our knowledge about Your Roadmap this year and the future and any Updates on your Research and development progress?

Rim Slim: Domination is not good as it stops innovation, we want to get better and move the space forward as good as we can and as transparent as we can!

Q7 from Telegram User @CryptoZaratustra

Are DEXToken, FLC and AIMining projects developed by the same team? Why didn’t you combine DEXToken, FLC and AIMining products in one project?

Alistor Zimon: Interesting to point this out. All of these are part of the Ecosystem and some staff surely overlaps in the projects. However, the bigger the ecosystem gets, the more important it is to divide the projects into their own branches to not lose focus in the process of developing and building.

Q8 from Telegram User @AmirJosh

After the last “TITAN” staking round, what will be next events to look forward to on DEXToken Protocol?

Rim Slim: The launch of our V1.0 exchange which will have all the basic functionality and will be expanded on with new additions over the year. We are building the foundation as we speak of our future.

Q9 from Telegram User @Nickkiii

I’m a white hat hacker, do you have any Bug Bounty available, I would love to look at your code to ensure that DEXG has the best security possible?

Rim Slim: We will launch it this week! Please visit our community and drop me a line and ill personally invite you to it.

Q10 from Telegram User @tsafik

How can I provide liquidity with USDC & DEXG? Do you have some guide for this? If I decide to withdraw the tokens from LP at some point, will I receive just DEXG back or also USDC?

Rim Slim: Yes of course. You can find all info here. We have chosen a 90/10 shared pool to limit IL to the max. https://dextoken.medium.com/dexg-usdc-balancer-shared-pool-announcement-f85208ca5c3

Q11 from Telegram User @Mora110

What are the features that make me confident in your project?

Rim Slim: The fact we own the code; this means the knowledge level to tackle any challenge is really high.

Q12 from Telegram User @Maksyrn

Why did they complicate the mechanism for obtaining tokens, except for their direct purchase? Why is STAKING ROUNDS already 8 (like an inverted infinity sign)?

Rim Slim: Fair distributions means that you let the market decide its value. Staking is another of showing dedication to your project. Together you can see that after 5 rounds already we have been able to create a healthy and amazing community!

Q13 from Telegram User @AmirJosh

Your roadmap is stretch until 2025. Are there any plans or considering to create your own blockchain within this developmental period?

Alistor Zimon: The hill to adoption for new Blockchains is increasingly harder with the dominance of Bitcoin and Ethereum. Flowchain merged to Ethereum after the ERC-20 functionalities have been expanded. There are no plans as of now to create an own blockchain. However, it will be interesting to see how Ethereum will continue in terms of scalability and how other blockchains perform compared.

Q14 from Telegram User @BERTA2020

When claiming the rewards generated in your staking system, do I need to pay some type of fee with the current gas congestion that exists or is it totally free?

Rim Slim: Well Berta, since we are on the ETH network sadly we are beholden to the gas prices. But keep in mind, they are not going anywhere so just take them out whenever fees are lowest.

Q15 from Telegram User @csgonub

How do you provide the fund safety for your project? Can you explain please?

Rim Slim: The fund safety is backed by the safety and the immense scale of the ETH network.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about DEXToken Protocol. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 1500$ 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:

DEXG – Official Community: https://t.me/Dextoken_Official_Group

Website: https://dextoken.io

PART 1. Introduction of Prophecy crypto project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a Prophecy crypto project. 
Prophecy is a value transfer network of economically incentivized actors that come to a consensus on the state of the network’s economic policy. This is the first decentralized operating system for money.

The $PRY is the token behind Prophecy and Prophet Pools.

The plan of AMA session:

1.  Part – Introduction and preselected questions.
2. Part – Live questions
3.  The Quiz about Royal finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and Gold Rocket | Satoshi Club – @GoldRocket27

The Representative of the project:

HERMES | Prophecy CEO – @Defiknight – CEO of prophecy. 

APOLLO – Prophecy CMO –  @DeFiUtopia – Chief Marketing Officer for Prophecy.

ARES | Prophecy COO – @DeFicarbon – PROPHECY Chief Operations Officer.

CHRONOS | Prophecy  – @chronos9654 – Product Manager

Introduction of Prophecy project

Gold Rocket | Satoshi Club:

Greetings to you again Satoshi Club! Completing today’s AMA series with the Prophecy project.

APOLLO – Prophecy CMO:

Hey guys, great to be here!

CHRONOS | Prophecy Product Manager:

Hello! hope everyone’s having a great day so far. it’s about to get even better.

Mary | Satoshi Club:

@DeFiKnigt @DeFicarbon @chronos9654 @DeFiUtopia welcome here👍

ARES | Prophecy COO:

HEY HEY!! Thanks for having us!

APOLLO – Prophecy CMO:

Thanks for having us!

Mary | Satoshi Club:

How are you today, guys! Ready to rock?)

CHRONOS | Prophecy Product Manager:

Yes @madamlobster thanks for hosting

Gold Rocket | Satoshi Club:

Greetings guys👋😁 Thanks for joining👍

Mary | Satoshi Club:

That’s great! Let’s start with your intro and intro of the Prophecy project!

HERMES | Prophecy CEO:

We’re excited to be here!

APOLLO – Prophecy CMO:

Hey everyone, it’s so awesome to be here with you all – hopefully, we’ll give you a suitably kickass Prophecy AMA! My name is APOLLO and I’m the Chief Marketing Officer for Prophecy.

I got involved in crypto many years ago because I wanted to help develop and shape projects to actually revolutionize and change the way crypto operates. I wanted to give more people chances of success than ever before. And that’s where Prophecy came in – a project that is really ‘Built to Win’ and ‘Community Driven, Future Focused’.

I love what I do, and you’ll usually see me busy typing away a million articles, maintaining community relations, managing our social media pages, and much more! I’m glued to my phone almost 24/7 with Prophecy!

Mary | Satoshi Club:

I see, that you are a real Marketing man😂👍

ARES | Prophecy COO:

Hello everyone, Ares here, I have 5 years of experience in the blockchain space and have worked with numerous projects. Decentralization has always been a huge focus for me and with Prophecy, we have a slightly different approach when it comes to decentralized finance. We are community-driven, future-focused, built to win, build to grow.

Mary | Satoshi Club:

Five years, it’s a long term!

HERMES | Prophecy CEO:

CEO of prophecy. Happy to be here!

My background consists of project development team-building with a strong focus in the Blockchain sector. I have been a core team member of multiple top 100 projects and have been working in the space on the project-side since 2016.

I like to think of myself as a visionary that dreams big and isn’t afraid to take chances when I believe in something. I’m very excited to share our project with you all today!

APOLLO – Prophecy CMO:

I sure as hell try my hardest to be!

CHRONOS | Prophecy Product Manager:

Hey everyone, Chronos here, I’m the product manager for prophecy. I have years of experience building products in the digital space with great UX. I handle the design and prototyping and a little bit of coding for the team, and I manage the roadmap

Gold Rocket | Satoshi Club:

You guys have an amazing experience!👍

HERMES | Prophecy CEO:

We’re crypto OG’s

Mary | Satoshi Club:

100 projects, really?

HERMES | Prophecy CEO:

Top 100 projects.

ARES | Prophecy COO:

Been through a lot 😁

Mary | Satoshi Club:

Can you name some of them? Wow😀 sure, you will do your best for Prophecy!

I see, that you, guys, prefer to stay anonymous 😀

APOLLO – Prophecy CMO:

Haha yes! Happy to address this from a segment of our website, let me get it for you!

We’ve put a lot of thought into this!

APOLLO – Prophecy CMO:

(All this is taken from our website, we display this quite prominently on the home/ front page!)

The team behind Prophecy

The pinnacle and epitome of ‘decentralization’ is anonymity for the user and anonymity for the team.

As a cryptocurrency project delivering a real and significant impact on the financial market, we wholeheartedly believe and follow the principle that this project should remain solely about the project and the incredible community behind that.

Our team comprises of extremely senior and experienced professionals within the crypto-sphere, with combined decades of experience between us. We have worked within Top 100 projects and continue to push to innovate cryptocurrencies and DeFi.

We don’t want to be the focus ourselves, we don’t want to be idolized or looked up to or treated any differently, we just want to be in the background helping push this project and community as far forwards as humanly possible.

Remaining anonymous is the epitome of decentralization, as it’s the project and you – the community – that truly matters.

If you ever have any questions, any time of the day or night, message us on our Telegram and we’d be happy to help – we’re an open book, and we don’t let the fact we’re anonymous damage our community relations or how we deal with people! Official Prophecy Community.

Gold Rocket | Satoshi Club:

It’s so symbolic!😁 The gods of Olympus become crypto gods😉

Mary | Satoshi Club:

Haha, you don’t want to be idolized, but take god’s names))) are you more than gods in real life?😂🧐

APOLLO – Prophecy CMO:

Exactly what @Defiknight said, we’re a lighthearted and chill team and we love to have fun with our life’s passion – this is our heart and soul, so why not have fun with it?

HERMES | Prophecy CEO:

Haha

APOLLO – Prophecy CMO:

😂😂😂 I love it!

HERMES | Prophecy CEO:

No, we just are having fun with it it plays into the whole Defi vibe

Mary | Satoshi Club:

Vitalik?😂 Are you here😂🤣

HERMES | Prophecy CEO:

Mary | Satoshi Club:

Ok, guys. I got it and definitely can understand you! So, when Prophecy was born?

Gold Rocket | Satoshi Club:

@DeFiKnight @DeFicarbon @chronos9654 @DeFiUtopia Thanks for the incredible energy boost and the great intro! do you want to add something or move on to questions from the community?😊😁🚀

Gold Rocket | Satoshi Club:

Sorry, Mary!😁

Mary | Satoshi Club:

Just one question and we can proceed 😀

HERMES | Prophecy CEO:

We have been actively developing our platform for nearly four months, planning at getting all the game theory down pat. We have put a lot of effort into this and are excited to unleash it into the world!

APOLLO – Prophecy CMO:

Allow me to add something real quick!

Mary | Satoshi Club:

Of course 😊

APOLLO – Prophecy CMO:

Our behemoth of a presale kicks off in LESS THAN 2 HOURS – Tuesday, 22 December 2020 at 8 pm over at our Telegram group: https://t.me/prophecyproject

We have a countdown timer up over there, and once that baby hits 0, we’re launching an intuitive and sleek presale portal – all you need is MetaMask and some ETH, and you’re all set!

We’ll have a minimum input of 0.1 ETH and a maximum of 15 ETH so that almost anyone can help support Prophecy in this crucial phase.

Presale: 1 ETH = 78,000 $PRY (30% bonus tokens!)

Uniswap public launch: 1 ETH = 60,000 $PRY

All our tokens will be distributed on the day we launch on Uniswap – either 29 December 2020 or earlier if we hit our hard cap of 500 ETH! 🥳

We’ve received seriously significant demand for this presale, so we’re expecting it to fall rapidly – if you want your best chance of getting in, head to our TG community and be there for 8 pm UTC this Tuesday for when the link drops – first come, first serve! 

(Yes you read that right – less than 2 hours before Presale!!)

Mary | Satoshi Club:

God’s pre-sale 😀

APOLLO – Prophecy CMO:

It may well be! The demand has been MASSIVE so we’re expecting a mad rush in 2 hours – could be the biggest launch going into 2021!

Mary | Satoshi Club:

Sure👍

CHRONOS | Prophecy Product Manager:

join in the fun in our telegram @prophecyproject

Gold Rocket | Satoshi Club:

Great news!

Mary | Satoshi Club:

And ready to start with community questions and show our community why they should join your project?)

Gold Rocket | Satoshi Club:

Join Satoshi Clubbers! @prophecyproject

Preselected questions about the Prophecy project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @AmirJosh               Prophecy’s A ‘bare-tax’ is kind of a surprise for me. Prophecy tokens that remain inactive for a period of 3 days become flagged. Token Accounts remain flagged for no longer than 21 days, after which a portion of the balances are pulled and redistributed and continue until the account assets are 0.1% of the initial balance. Don’t you think implementing this will make investors who just want to hold tokens on their wallets stay away from Prophecy? Not all investors want to do staking and providing liquidity.

Mary | Satoshi Club:

Wow, really? I am a bit scared 😂 I prefer to hold)

APOLLO – Prophecy CMO:

That’s why we offer incentives for activity and participation and really incredible incentives too!

We have a lot of incentives in place with Prophecy!

Give a read, and check out as well.

Both outline some of our many incentives in place, such as majority winning every time with Prophet Pools, Second Chance pools, GREAT staking rewards ($PRY AND ETH rewards), as well as special gamified elements solely for our most active and engaged supporters!

We also disincentivize inactivity through a BARE-tax system that fairly taxes completely inactive tokens that remain inactive for a long duration of time. These taxes go towards locked liquidity, the majority of tokens are burned, and some are sent to our Redemption Centre!

We have a lot more in detail on our website, too! Check it out here: 

APOLLO – Prophecy CMO:

So offering great rewards for activity like staking (and staking will be available day ONE!) and ETH/ $PRY dual rewards for staking, it’s a NO BRAINER! It’s a really sweet and cool simple system!

Mary | Satoshi Club:

So, simple hold doesn’t work with Prophecy?

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

It’s a great question, I can see on the surface why it might scare investors. The truth of the matter is, burn taxes will incentivize investors to put their tokens back to use in the network. and this structure offers a way for the price of Prophecy to go up over time as well. why hold when you can make a bigger ROI and participate in the Prophet pools community? as apollo said, there will be incentives more than just avoiding the bare-tax for those who have $PRY, like NFT cards for continuous pool participants with special incentives and much more.

Mary | Satoshi Club:

You will have NFTs?

Gold Rocket | Satoshi Club:

I would like to have NTF with crypto gods 😁😉

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

 We’re looking to offer rewards and ways for people to remain loyal to our community. one way we’re looking to do that is to offer NFTs for the most active participants in pools, NFTs for long-term pool winners, and more. these are our loose plans for now, but when it comes down to it, we’re looking to reward those who are active in the community. one thought we have with NFT holders is to get a bonus on pool winnings or staking rewards if you hold an NFT. one idea of many!

HERMES | Prophecy CEO:

It’s definitely in the roadmap have a whole suite of products we need to launch first.

Mary | Satoshi Club:

Can you share your roadmap with us?🧐

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Our roadmap can be found at https://prophecyproject.io/#roadmap.

APOLLO – Prophecy CMO:

Never say never! We’re actively looking into this as additional rewards, for example, NFTs for most active participants, most wins, hell we can even NFT those who lose a Prophet Pool, so technically you don’t even lose than (and the loose odds are TINY!

Mary | Satoshi Club:

One last question. How Prophecy Pool can be lost?

APOLLO – Prophecy CMO:

Okay here’s an example!

Mary | Satoshi Club:

I see😂 it seems risky, but, actually, I know some people like such a lottery.

APOLLO – Prophecy CMO:

It’s like flipping a lottery on its head, upside down, because in a lottery only one person wins, yes?

We don’t believe in that – we’re not in crypto to benefit the minority – we want everyone to win, everyone to have the chance to succeed!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Unlike traditional lotteries, pool participants with Prophecy could have an extremely high percentage of winning more $PRY tokens than what they entered. Up to 80% in some cases. Our pools are configurable, so the odds, the ante, and more options could change from pool to pool. And in the future, we’re going to let people make their own pools and let their friends join in. We also want to allow people to make pools with other tokens like BTC or ETC with cross-chain functionality (roadmap for 2021)

Mary | Satoshi Club:

Ok, you will have a lot of pools, right? I mean, that if, for example, you will have 1000 holders and just 10 would be accepted for one pool… That means that the rest should go to the next pool, right?)

APOLLO – Prophecy CMO:

Let’s say there’s an 80% Prophet Pool:

8/10 people win

The odds of losing two of these in a row is 1/25 – just 4% chance – that’s insane, unheard of in the crypto.

APOLLO – Prophecy CMO:

Hell yeah! Prophecy – Built to Win.

Gold Rocket | Satoshi Club:

Oh yeah! This is impressive!

APOLLO – Prophecy CMO:

This BARE-tax only kicks in next year, too – so it’s not immediate

Completely dead and inactive wallets (ZERO activity) don’t benefit a project, it actually devalues it, so that’s why we implement BARE-tax (eventually) and offer such great rewards for an activity like majority winners in Prophet Pools and dual stake rewards, and much more up our sleeves

Mary | Satoshi Club:

Look, we have inactive BTC wallets and this still didn’t kill bitcoin😀

APOLLO – Prophecy CMO:

We’re not Bitcoin! No-one is Bitcoin haha, we can’t be compared to them – we just share the same crypto umbrella to protect us from the nasty bank rain😀

Mary | Satoshi Club:

Oh, I see Bare-tax will be activated in one year.

Mary | Satoshi Club:

ETC?) First time I see ETC is chosen among the first coins for cross-chain functionality)

APOLLO – Prophecy CMO:

Make sure you join our Telegram community ASAP – we’re receiving INSANE attention right now!

https://t.me/prophecyproject

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Yes that’s right, to start we’re going to have a couple of pools that can’t be adjusted, then we’re going to grow from there. it will be a first come first serve. but as soon as one pool closes, it will open again with new wallets being able to enter the pool. they will continuously run.

Mary | Satoshi Club:

Got it👍

Gold Rocket | Satoshi Club:

By the way! Do you have funds for auditing smart contracts, when are you planning, or have already done it?

APOLLO – Prophecy CMO:

In our roadmap we have also factored in Custom Games, so people can create and host their own Prophet Pools (and set the tiers, for example, 60% winners?) and Custom Live Updating Widgets that you can send your friends/ followers that updates to show the progress of the Prophet Pool!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

We’re definitely prioritizing audits of everything we’re making and have started the process. By the time we launch we will have fully audited platform code.

Mary | Satoshi Club:

That’s clear! Ready to proceed?

APOLLO – Prophecy CMO:

Let’s goooo! (Sorry, our messages are BLOWING UP – this presale is MASSIVE!)

Gold Rocket | Satoshi Club:

Q2 from Telegram user @konditer_rolex

I am very sorry that your site is not working now. Many people will not know that in a few hours the pre-sale begins. I really like to look for flaws in the work of projects. And now the main drawback is the lack of sufficient coverage of the project. Tell us how and where the pre-sale will take place. What will be the conditions and what are you doing to attract investors? In particular, in terms of information coverage

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Our website is up by the way

APOLLO – Prophecy CMO:

Our site does work:

https://prophecyproject.io

Mary | Satoshi Club:

That’s great!!!

APOLLO – Prophecy CMO:

For ALLLL the details on presale, check our new article here!

(This question is VERY wrong haha – website works, we have a LOT of coverage (hence this AMA and AMAs in some of the biggest crypto communities on the planet) and we’re about to have a major influencer push on youtube, Twitter, and more!)

https://link.medium.com/LuMRjDrxqcb

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

We’ve been working on the site this morning, @konditer_rolex could have been seeing it while we were uploading something

APOLLO – Prophecy CMO:

One sec.

Mary | Satoshi Club:

Sure😀

Gold Rocket | Satoshi Club:

It works for me too! 🚀👍

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

In short, we will have a page up where you can contribute to the presale. it’s an audited and secure code. participants will get a 30% bonus vs. launch price. presale price is 78,000PRY per 1 ETH. nice little bonus for early adopters. your tokens will be distributed on launch day (planned for Dec 29 or whenever we hit our 600ETH hard cap if that comes earlier)

Mary | Satoshi Club:

We will definitely read it👍Who it was audited by?😀

HERMES | Prophecy CEO:

Make sure to join our telegram community! It’s popping!

https://t.me/prophecyproject

Mary | Satoshi Club:

I mean page😀

HERMES | Prophecy CEO:

We have a third party audit from a close friend and known developers who have also worked for projects like fetch. We will share it shortly

Gold Rocket | Satoshi Club:

Our community tells me that you have the wrong link on Twitter https://prophetproject.io/

HERMES | Prophecy CEO:

The wrong project, Fake scam.

Gold Rocket | Satoshi Club:

👀

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

https://twitter.com/Buy_Prophecy

Mary | Satoshi Club:

Gotcha 👍 Let’s jump to the next question then?

APOLLO – Prophecy CMO:

This is our official Twitter! Check the first-week date – had it for months! 🤙🏽🔥

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

That should be the link on our website, not sure if people are being taken to that link or something else. please DM me if you are on our website and you see any odd link redirects. and please watch out for scammers.

Gold Rocket | Satoshi Club:

Try this link guys!😉

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

From my end, our Twitter is linked up correctly on the website. anyone who sees weird things please dm me and thank you for your diligence! greatly appreciated!

Gold Rocket | Satoshi Club:

Thank you to ❤️ next question?🚀

APOLLO – Prophecy CMO:

Yes, things like this help us IMMENSELY! We went through a small rebrand a little while ago (before we even began market building/ community building) so it’s great to iron things like this out!

See, THIS is why we love our community! You guys are the best ❤️

Mary | Satoshi Club:

Yes, we got some feedback from our users! We really worry about you! Everything should go on the right way😀

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

We’re feeling the love! Prophecy apes of the world unite

HERMES | Prophecy CEO:

Thank you we are very legit no worries 😉 we really appreciate the support

Mary | Satoshi Club:

👍So, jump to the next question?)

APOLLO – Prophecy CMO:

Hit us, baby!

Gold Rocket | Satoshi Club:

Q3 from telegram user @yellowchamp

When I read your medium article about private and public sale, it seems that Prophecy is such a promising project and your team is really confident in making Prophecy to be successful. But ahead of time, what do you expect with the outcome of your pre-sale? How confident are you that the 500eth Hard Cap in public sale will be reached? As a crypto believer, we know that many promising projects out there, so for an investor like me that want to participate project pre-sale, can you tell us some good points and legitimacy of Prophecy that can make investor trust and believe your project? I was once an investor in the presale of a certain project but it was not successful and turned out to be a scam, so. I’m always in hesitation to enter a presale, especially with a new project launch. Thank you!

APOLLO – Prophecy CMO:

You’re right to exercise due diligence, and we always advocate for it! That’s why, even despite our anonymity, we’re here 24/7 in the Telegram group (https://t.me/prophecyproject) (we cover almost every continent on the planet with our team, hence being able to be active 24/7) and answer any and all questions, whether in our group or DMs!

Prophecy is unlike ANYTHING on the market at the moment or anything that’s existed, and we’re confident you’ll all realize that once we launch – first with staking on Day One, then eventually Prophet Pools – which will blow things out the water, they’re so innovative!

Due to the insane attention and demand we’ve received so far, we’re confident we’ll hit our hard cap, that’s why we’re urging people – if you want access to a bonus of 30% tokens (1 ETH = 78,000 $PRY during the presale, and 1 ETH = 60,000 $PRY during Uniswap launch) to join NOW before it’s too late!

Our presale launches in just over an hour, so it’s gonna be wild! https://t.me/prophecyproject

Our tokens will be locked according to the tokenomics section of our website, publicly viewable at all times, but as I said above – we’re always available to chat to about anything and everything!

Mary | Satoshi Club:

Are you from different continents, guys?)

HERMES | Prophecy CEO:

Yes we’re a truly global team from the USA, Europe, and even Asia

APOLLO – Prophecy CMO:

Yes! The States, Europe, Asia, we got the globe cooooovered! Snap @Defiknight hahaha

Mary | Satoshi Club:

Wow👍 really great! Do you know each other in real life? Btw, will you have a multi-sig wallet or you have enough trust in the team?

ARES | Prophecy COO

We will be using a multi-sig wallet for sure, it’s more secure for everyone.

APOLLO – Prophecy CMO:

We’re a close-knit team, a really close-knit team, I think we can say that 😉

We’re always looking to expand our team, however, so always open to new people joining and sharing their talents with us

HERMES | Prophecy CEO:

We are trustful of each other and that’s the way any legitimate team should be

Gold Rocket | Satoshi Club:

This means the crypto gods do not live on Olympus. 😁 Cross fingers🤞

Gold Rocket | Satoshi Club:

Q4 from telegram user @Highpee         

Your project seems unique in the way it is named and the way the project team addresses themselves. From your Telegram community, I see that some of the project team members answer names such as Ares (Greek god of courage), Chronos (Greek god of time), Apollos (Greek god for all things), and Hermes (Greek god of trade and wealth). How do you come about the name PROPHECY? Why does the team have a special interest in Greek myth? Is there any spiritual inspiration for your project?

Gold Rocket | Satoshi Club:

Good question😉

APOLLO – Prophecy CMO:

I LOVE this question! Made me smile!

Our name is pretty holy, and that’s because just like Prophets gone past in history, and Prophets to come, Prophecy offers a shining light, a clear vision forwards, for our supporters and followers. With Prophecy, everyone can be a winner, and everyone can succeed equally.

We’re all in crypto together, and it’s a journey we all take together. Our name reflects this, and reflects us blazing a path forward to be ‘Community Driven, Future Focused’.

For me, personally, Apollo came to me as a pseudonym because he’s the God of Intelligence (“all things”) and that’s sort of my role in the project, the Chief Marketing Officer, so I have to know everything, juggle everything, to maintain a fine balance! It just felt like it fit better!

KICKASS QUESTION!

HERMES | Prophecy CEO:

We are a vision of the future.

APOLLO – Prophecy CMO:

Hell yeah!

Mary | Satoshi Club:

How many gods in your team?😂

HERMES | Prophecy CEO:

6 gods. Like drake.

Mary | Satoshi Club:

Amazing! You can do a lot with your team.

APOLLO – Prophecy CMO:

Yeah, we work awesomely together, from development and smart contract wizards to journalism and media, video production to Pr and marketing, we are unstoppable. Built to Win, we are!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Chronos was fitting for me because as a product manager I lead the team to deliver what they promise on the roadmap.

Mary | Satoshi Club:

Ready to fly🚀 to the fifth question?

ARES | Prophecy COO:

Let’s do it we have a presale to launch 😁👍

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Garrinepotter

You’ve already finished your private sale. How did it go? What mood do you have for the pre-sale? And when will you launch on Uniswap? You mentioned that staking will be available to everyone at the same time. Waiting for the moon?

Mary | Satoshi Club:

Yes, we will speed a bit, we will also have the live part.

HERMES | Prophecy CEO:

We capped out the private sale at 110 eths last week. Presale is the exact same bonus just presale people get early beta access.

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Our staking opportunities are limited, we will most likely offer them for the first year for a limited amount and limited time. The first staking pool will run 30 – 60 days and the reward will be plentiful

Gold Rocket | Satoshi Club:

Good results!

Mary | Satoshi Club:

Which price and bonuses you had for private sale?

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

So yes, it’s available to everyone, but it’s limited and on a first come first serve. the first staking pool might fill out the first day, depending on demand.

For the private sale 1ETH = 78,000PRY, a 30% bonus. In addition, private sale participants get special early access to our platform in Beta before anyone else.

the great news is, the presale gives you the same bonus! 1eth = 78,000PRY vs. Uni launch 1ETH = 60,000PRY.

Mary | Satoshi Club:

Got it! Thank you! Ready for the 6th and last question from this part?

HERMES | Prophecy CEO:

Yes we need to speed up we are going live with presale soon it’s getting crazy

Gold Rocket | Satoshi Club:

Q6 from Telegram user   @zaferce               

What will be the Staking privileges with Prophecy and can we start staking and earning with Prophecy since Uniswap is launched?

Mary | Satoshi Club:

@GoldRocket27 shoot🚀

APOLLO – Prophecy CMO:

Woooo! Presale 42 minutes away!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

We will have staking at Uni launch, one staking pool will be opened, maybe 2. and then each month or so after we’re going to open a new one. we’re not sure the timeframe, could be 30, 60, 90 days. but they are LIMITED AND FIRST COME FIRST SERVE

APOLLO – Prophecy CMO:

Uniswap is NOT live yet – don’t fall for scam duplicates!

When we do launch on Uniswap on 29 December 2020 (or sooner if we hit Hardcap) we’ll have a staking pool active on day one 🚀🚀🚀

Mary | Satoshi Club:

Very soon!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Our private and presale participants get the first crack at the staking pools because they will have the token distributed on launch

ARES | Prophecy COO:

YUPPPPP

Mary | Satoshi Club:

Got it!

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

The buy PRY in the presale, get in on that beautiful staking, and you can buy on launch too.

Mary | Satoshi Club:

For those, who will accidentally miss😉So, guys! Let’s move to the live part? 😉

Gold Rocket | Satoshi Club:

Thanks for the good energy guys! Ready to get some energy from our community?😁🚀

HERMES | Prophecy CEO:

Make sure you join our telegram.

 To get first access to the presale

https://t.me/prophecyproject

CHRONOS | Prophecy Product Manager | I WILL NOT DM FIRST:

Open the flood gates, let’s do this.

Mary | Satoshi Club:

Let’s go 🚀

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

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

Q – 1 from a telegram user @Winterkom

How can I participate in the Prophecy preview if the website has problems and does not seem to give users access? Can I participate without entering the website?

ARES | Prophecy COO:

The website is up and not down, we will have a special link to the presale that will be available within the next 30 mins.

Q – 2 from a telegram user @daendels9

What’s your grand vision for $PRY? How do you see it evolve with further tech advancements in the next 5 years? 

CHRONOS | Prophecy Product:

The prophet pools we start in 2021 want to become user-defined and cross-chain. i.e., you can create your own prophet pool where everyone enters .5ETH and the winners get 1ETH winnings. Just an example, but think of the possibilities when we’re cross-chain and any token can become a pool!

Q – 3 from a telegram user @KeymerS

I understand that Prophecy will seek to prevent the value of PRY from reducing, so it will stabilize demand through the art of burning, which is the most common, but what will be its% of initial burn really? And will this be modified by the community or by volatility in the market?

HERMES | Prophecy CEO:

His will be determined when the staking rounds commence we will do monthly burns accordingly

Q – 4 from a telegram user @csgonub

Is your supply a fixed number of coins or is it elastic?

CHRONOS | Prophecy Product:

fixed supply, total 200,000,000 before burning. initial 100,000,000.

Q – 5 from a telegram user @Winterkom

I have seen several smart contracts similar to Prophecy that are actually in Uniswap for trading, does this have anything to do with Prophecy? How do we know we’re buying the right token?

APOLLO – Prophecy CMO:

Any project called ‘Prophecy’ or $PRY is NOT legitimate and is a scam – please be careful!

We have our official contract address on our Pinned Message in a telegram, and in multiple articles on medium – once we’re live on Uniswap, we will share the link in our telegram and official Twitter account!

Great question though – all our official links will always be posted at our Telegram.

Q – 6 from a telegram user @Johana0012

Help me, can you provide me with the contract in uniswap to become a member through the purchase of the token?

HRONOS | Prophecy Product:

check out our telegram we will have the contract link up there in 35 minutes!!!

Q – 7 from a telegram user @yellowchamp

Can you tell us how much the minimum amount to buy in your pre-sale? Do we need KYC?

APOLLO – Prophecy CMO:

Our behemoth of a presale kicks off in 35 MINUTES – Tuesday, 22 December 2020 at 8 pm over at our Telegram group: https://t.me/prophecyproject

We have a countdown timer up over there, and once that baby hits 0, we’re launching an intuitive and sleek presale portal – all you need is MetaMask and some ETH, and you’re all set!

We’ll have a minimum input of 0.1 ETH and a maximum of 15 ETH so that almost anyone can help support Prophecy in this crucial phase.

Presale: 1 ETH = 78,000 $PRY (30% bonus tokens!)
Uniswap public launch: 1 ETH = 60,000 $PRY

All our tokens will be distributed on the day we launch on Uniswap – either 29 December 2020 or earlier if we hit our hard cap of 500 ETH! 🥳

We’ve received seriously significant demand for this presale, so we’re expecting it to fill rapidly – if you want your best chance of getting in, head to our TG community and be there for 8 pm UTC this Tuesday for when the link drops – first come, first serve!

Q – 8 from a telegram @cryptofollower

Can you explain to us your programs and roadmaps about stake rewards?

HERMES | Prophecy CEO:

We will hold limited staking events. We will battle inflation for staking by conducting monthly burns that run parallel to the staking round execution. Everything we have done is to make the token raise in value. BULT TO WIN!

Q – 9 from a telegram user @Korryl

It looks like you have very interesting staking pool with unique feature inside that but how about its safety? Do Prophecy team already do audit for their smart contract and how about the result?

ARES | Prophecy COO:

Yes safety and security is a huge priority for us. We understand that there have been lots of rugs and scams out but we are a legit project.

All of our smart contracts will have audits and the public will be able to view them so there will be complete transparency.

Q -10 from a telegram user @yellowchamp

Can you tell us how much the minimum amount to buy in your pre-sale? Do we need a KYC?

ARES | Prophecy COO:

No KYC is required and min is 0.01 to 15 ETH

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Prophecy project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

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

Our Crypto Partner by this AMA: Prophecy

Telegram group  | Git Hub|  Tweeter  |  Website  |  Medium  

We are pleased to announce our next AMA on December 29th 2020 at 02:00 PM UTC Time: Satoshi Club x Hathor Network

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hathor Network Telegram group

We will have the following structure:

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

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

Part 3: 400$ – A quiz about Hathor Network

For more details:
Hathor Network – @HathorOfficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on December 26th 2020 at 04:00 PM UTC Time: Satoshi Club x Drift.finance

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Drift.finance Telegram group

We will have the following structure:

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

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

Part 3: 300$ – A quiz about Drift.finance

For more details:
Drift.finance – @DriftFinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish