Month: December 2020

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Flush.lol and our guest was Turd Burglar. The AMA took place on 23 December.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

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

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

Luis Merino :es: | Satoshi Club: Hello SatoshiClubbers! I’m back for Christmas :)) to host a great AMA with our mates from flush.lol

@turd_burglar welcome to Satoshi Club

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with flush.lol! welcome to Satoshi Club

Turd Burglar: Hey all! Pleasure to be here.

Mary | Satoshi Club; Hello, Turd! How are you today?)

Turd Burglar: Great! Hope you all are great too 🙂

Mary | Satoshi Club: Of course! Please, introduce yourself and tell us more about flush.lol project . It’s really exciting, we were waiting for this AMA since saw announcement

Turd Burglar: Thank all of the participants and orgs for having me.

I’m an anon dev. Sorry if someone is not comfortable with that. But i want people to focus on what i do, but not who i am. i think that product is a first priority in the DeFi sphere.

I represent flush.lol project, which consists of the two parts: flush and plunger (upcoming). briefly about them:

1. https://flush.lol

Flush is a decentralized platform which allows users to spend their failed DeFi tokens and take a chance to win ETH in our games. With every bet player also earns 🧻 PAPER — the native token of Flush platform.

Stop thinking that price will recover and you will get out in lambo. Just flush your sadness along with your tokens. The only chance you have is to flush and win! Let’s clear the market together!

2. https://flush.lol/plunger

Plunger is designed to make you profit out of any of your tokens without selling or exchanging them.

Similar to Compound. But Plunger users can use almost every DeFi coin as a collateral. Also CDP has not only one token. Users can make their CDPs from the bunch of tokens they have to diversify a risk of liquidation.

With Plunger you can just lock the tokens you wanted to hold in CDP, get ETH and use it to trade, deposit, pay some needed expenses, etc. And you won’t miss any potential profits because you still own all your tokens.

But this is not all! Plunger will also has its own Vaults. So what you need to make additional profit with your DeFi altcoins CDP? Nothing, just lock your tokens and start making profits, yes, that’s simple!

sorry it’s quite long

Luis Merino :es | Satoshi Club: Thank you! Great intro

That’s great! The more info the better :))

Turd Burglar: thanks!

Mary | Satoshi Club: Nice intro and let’s dive into details? We have some questions that we collected from our community

Ready?

Turd Burglar: Sure! We are here for questions

Luis Merino :es: | Satoshi Club: Let’s go!

Q1 from Telegram user @Ubik1337

Flush your sadness along with your tokens… I like the idea that you help people to gain at least some profit out of their useless tokens, and at the same time make them smile a bit. What was the initial idea behind your project? When you made flush.lol you thought about how you can make profit out of garbage (useless tokens) or you thought about this more like a meme project which can help people releave the psychological tension and not suffer from situations that already passed?

Turd Burglar: Very good question.

The initial idea was to help people to make profit out of failed tokens. That’s why now I’m working on Plunger, which will help users earn even more profit. Not just flush these tokens, but get some passive income out of it.

Cause I see there are a lot of people who still believe that some of the tokens will recover and not ready to flush them yet.

Mary | Satoshi Club: Didn’t you think that the loser gets even more sadness? I mean your game You do not compensate them for double tears?)

Luis Merino :es: | Satoshi Club: You said I’m working…? How big your team is?

Mary | Satoshi Club: And yes, i know what hope means:joy: and that sometimes it’s better to flush this hope

Turd Burglar: Ha-ha. Now if you flush – you get 1 $PAPER for it, which is worth ~$10, so there is some compensation as well 🙂

Luis Merino :es: | Satoshi Club: Not bad

Mary | Satoshi Club: Oh, really?) Even if this tokens price less then 10$?)

Turd Burglar: I started on my own, but now I have a couple of guys from the initial community who are helping me a lot

Mary | Satoshi Club: Oh, really?) Even if this tokens price less then 10$?)

Yes. But there is a minimum amount to flush. It’s equal to 0.015 ETH

Mary | Satoshi Club: 🤘 it’s cool

Luis Merino :es: | Satoshi Club: Starting a project alone shows you are so brave. Congrats

Mary | Satoshi Club: So, no more tears, just lol)

Turd Burglar: exactly!

Q2 from Telegram user @Coin4me

The time of The Last of Us game is limited by 69 blocks, then you determine a winner. Do you mean that a bet transaction must be confirmed within this time to participate in the round? But it’s happening often that ETH network is clogged because unstable gas price and this could cause a long delay of confirmation. So, it might happen that some transactions would send at time, but would confirmed after you have determined the round winner, and some of those bets might be even bigger than the winner has, i.e. actually someone else should become a winner. What will you do with such transactions those have been confirmed too late? Will you return these bets? Or, will those people just lose money because of ETH network issues?

Turd Burglar: In this case, winner of the previous round takes the reward and bet from the question goes to the next round.

No bets or money will be lost

Mary | Satoshi Club: So, did you already have such issues?

Turd Burglar: It’s not an issue, it’s just one of the cases, which is foreseen in the smart contract code. Yes, there were some and everything is ok. I tested all cases before the release

Mary | Satoshi Club: Btw, how long usually one round continues?

You are a very prudent dev

Turd Burglar: For now there are not a lot of users so one round could last even for a couple of days. Hope the situation will be changed soon

Luis Merino :es: | Satoshi Club: It will. Satoshi Club Effect is coming

Turd Burglar: Yes, I can see it. Thanks for the opportunity! 🙂

Mary | Satoshi Club: You need more?) I think you’re in the right place, as we all have failed tokens, i think

Is this just for defi tokens? Or i can flush all my 2017 ETH acc?

Turd Burglar: Not cool that a lot of people have may of failed tokens. Hope the project will help you. At least to smile

Any ERC20 tokens which are listed on uniswap

Mary | Satoshi Club:I am smiling even when i imagine how i flush all my 100+ tokens no matter if i will do this or not)

Q3 from Telegram user @magic2crypto

You promise 30% APY to defi tokens stakers and 5% APY on loans in ETH, as it’s stated on the site. But as i can see on the same page, you are planning to take only up to 15% APY from those who is pledging defi tokens to you in order to get ETH credits. Obviously the promised passive income on deposits is more than a potential income you can get from borrowers. How do you think to cover this difference? Where will you get from around 20% APY those are missing in a such scheme?

Turd Burglar: There will be Plunger vaults to make the additional profits.

Also please notice that Plunger is at the development stage at the moment and these numbers are approximate for now. It will be released in January

Mary | Satoshi Club: Could you tell us more about Plunger?How it will work?)

Turd Burglar: Yes, give me a few minutes please

Could i use images?

Mary | Satoshi Club: Of course

Luis Merino :es: | Satoshi Club: Yes!

Turd Burglar

Plunger is designed to make you profit out of any of your tokens without selling or exchanging them.

It’s simple, we have two parties: ETH lenders and Tokens lenders.

Similar to Compound. But Plunger users can use almost every DeFi coin as a collateral. Also CDP has not only one token. Users can make their CDPs from the bunch of tokens they have to diversify a risk of liquidation.

Tokens lenders can create a CDP, which would contain a bunch of DeFi tokens. It will be used as a collateral to borrow an ETH from ETH lenders.

Luis Merino :es: | Satoshi Club: Plunger is great :))

Turd Burglar: Why do you need to use a Plunger? You’re an altcoin DeFi holder and you believe that some of your holdings will grow up to make you a multiple profit?

Without Plunger you’d hold your tokens and wait until the price will go up without any possibilities to use these money: if you just exchange it to ETH for some time, you will probably miss the impetuous growth of the token price and miss your profits.

And if the price will significantly drop for 50% or more and you don’t react on time — you can lose a big amount of your funds.

With Plunger you can just lock the tokens you wanted to hold in CDP, get ETH and use it to trade, deposit, pay some needed expenses, etc. And you won’t miss any potential profits because you still own all your tokens.

And if the price will significantly drop for 50% or more and you don’t react on time — you will still have 50% in ETH, so it will work for you as a risk hedging tool.

But this is not all! Plunger will also has its own Vaults. So what you need to make additional profit with your DeFi altcoins CDP? Nothing, just lock your tokens and start making profits, yes, that’s simple!

it’s a short version

you can read more here https://flushlol.medium.com/introducing-plunger-new-product-on-flush-lol-116b596dd51c/

Mary | Satoshi Club: So, in simply words – i will need lock my tokens on your platform?

Turd Burglar: and apply to the whitelist here  https://flush.lol/plunger

to try it first

yes, and get ETH loan or just a passive income – up to your choice

Mary | Satoshi Club: Oh! That’s it

Luis Merino :es: | Satoshi Club: Thank you for the great explanation!!

Turd Burglar: thanks

Mary | Satoshi Club: Everything is clear and attractive

What about audit?

Turd Burglar: There is no official audit yet. Of course I will need it after the Plunger release.

But there were a few users in the group who checked the flush code publicly. It’s not big and complicated

Question 4 by Telegram User @Highpee

I must say that your project is particularly interesting in it’s scope and what it set to acheive . You have described your project as a decentralized platform which allow your users to spend their failed tokens with a chance to win ETH. Do you mean you support ALL form of Defi tokens? Also, your project runs on the Etherium network, do your platform only support tokens from Etherium blockchain or the tokens that your users can use cut across various blockchain network?

Or you think another blockchains don’t have tokens to flush?

Turd Burglar: as i said for now it’s only ERC20 tokens, which are listed on Uniswap. i have plans to expand it, but it’s not a first priority at the moment.

ha-ha, no, i’m just focused on the product market fit before scale.

Luis Merino :es: | Satoshi Club: That’s great

Mary | Satoshi Club: We are in hurry to get rid of all our tokens

Luis Merino :es: | Satoshi Club: Yes we are!! Haha

Turd Burglar: everybody is welcome

Mary | Satoshi Club: Sometimes I envy people who only

own 3-4 coins

Turd Burglar:  share flush with friends who have failed tokens, bring them some fun

Question 5 by Telegram User @brodzonl

Why did you create your logo that simple only wave and toilet sticker? How can investors consider this as obvious investment with this logo?

Luis Merino :es: | Satoshi Club: Short but interesting question

Turd Burglar: i love the simplicity and fun. i’m not focused on convincing people to buy $PAPER, i’m focused on building a solid product with users and working tokenomics. if it will work this way, i think that simple logo won’t be a problem 🙂

Mary | Satoshi Club: That’s true)

Btw, did you have sale or pre-sale?

Turd Burglar: also it’s a some kind of an attention grabber 🙂 i’m tired of boring and “smart” brandings of the projects which has nothing behind that.

no, community voted against it

Mary | Satoshi Club: How did you distribute tokens?)

Luis Merino :es: | Satoshi Club: Through governance?

Mary | Satoshi Club: rebellion against boredom:joy:

Turd Burglar: through the governance in telegram group. the community was quite small at the moment

Luis Merino :es: | Satoshi Club: Oh okay :blush:

Mary | Satoshi Club: Nice!)

Turd Burglar: PAPER — is a native governance token of Flush project. Max. supply for PAPER is 69 000 tokens. Yes, only 69 000 tokens. And no more tokens will be ever minted.

PAPER is an anti DeFi bubble index asset. More projects failed means more players we have, spending their unlucky investments, which means more PAPER tokens bought from the market, and finally PAPER price grows. All players get tokens for every bet: starting amount is 0.5 PAPER for each bet.

Of course there is a dev. fund — 10% from all minted tokens.

PAPER token holders will be able to vote on what goes live and when, in order to decentralize the project’s work.

Also there is an anti-inflationary system is applied to the platform:

10% of all drawn ETH will be used to auto market-buy the PAPER token from Uniswap:

7% of all purchased tokens will be sent to 0x0000…. and circulating supply will be decreased forever.

3% from purchased tokens will be sent to the distributor address (read more below).

1000 tokens (1.45%) will be pre-minted at the start to provide liqudity.

Mary | Satoshi Club: Perfect system

Turd Burglar: and I’ve locked all the initial LPs which I had

Mary | Satoshi Club: With third part?

Turd Burglar: but now we have a voting system: https://gov.flush.lol/

yes, UniCrypt

again, community voted for that

Luis Merino :es: | Satoshi Club: Thanks!!

Mary | Satoshi Club: Best community

Turd Burglar: they are helping a lot!

i’m grateful

Mary | Satoshi Club: Next question? It will be 6th and last question from this part

Turd Burglar: ready

Question 6 by Telegram User @a6hmadjohon

The number of scams in projects has increased, therefore the lack of trust in travel reservation platforms is a common problem among users. How does Flush.lol intend to solve this problem?How do users ensure that the tactic of artificially inflating prices will not be implemented?

Turd Burglar: There is an oracle which is checking the token before it used by flush. It’s very simple now. In Plunger I will have complex oracles system, which I’m going to explain in my Medium article soon.

Mary | Satoshi Club: Ok, waiting for this article then

Turd Burglar: thank you guys for the 6 Great questions! It was really interesting!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nickkiii

Do you have any Step-by-step guide that can direct me on how to play on https://flush.lol?

Turd Burglar: Yes, https://flushlol.medium.com/flush-lol-how-to-play-guide-8cf1fb45e6f2/

Q2 from Telegram user @KASG95

projects that promise very high profits at a very low price turn out to be scam, how to know that Flushlol is not Scam? If we do not even know who is your management team or where was this project developed and registered?

Turd Burglar: i believe that crypto and defi world is trustless in its own nature. people don’t need to trust and know each other any more. transparent system with open code – this is all you need to see to make your choice to use it or not. always dyor 🙂

Q3 from Telegram user @Boylut

When will Plunger go live? Q1 2021 or Q2 2020? Can’t wait to start earning with it. Kudos guys

Turd Burglar: Plunger is planned to be released on January 2021. Please, stay tuned and check all news on Twitter and Telegram group

Tweets by FlushLoL

https://t.me/flushlol

Q4 from Telegram user @AugusS7

The vast majority of DeFi users must have large amounts of tokens that were scam, others that failed and many that are not yet marketable, with Fluslol can I use each of them and be able to obtain large profits? or do they have to be tradable tokens on Uniswap?

Turd Burglar: tokens have to be tradable on Uniswap, yes

Q5 from Telegram user @dumpspump

Governance is really important for projects to grow bigger what do you think about governance?

Turd Burglar: almost everything what happend to flush yet was decided by community. i’m a fan of decentralization

Q6 from Telegram user @Xusuo

As a Defi Project, it will not complete without Yield Farming. So what is percentage reward that user will got from Flush.lol farming?

Turd Burglar: 3% of the each reward of each round goes to farmers. also we have an airdrop program:

All the LP stakers, who’re staking their LP in the farm smart contract will get 7100 🧻 PAPER as a bonuses:

– After the PAPER/ETH market cap will reach 9 ETH, 100 PAPER to be distributed among the farmers;

– 18 ETH mc +200 PAPER;

– 54 ETH mc +300 PAPER;

– 90 ETH mc +500 PAPER;

– 180 ETH mc +1 000 PAPER;

– 900 ETH mc +2 000 PAPER;

– 1 800 ETH mc +3 000 PAPER.

Q7 from Telegram user @alyaakin

Do you need our wallet private keys for flushing tokens?

Turd Burglar: of course not! you can use it with metamask app. don’t give anyone your private keys 🙂

Q8 from Telegram user @Joseunda

Could the community create their own games in the future?

Turd Burglar: yes, if community will offer some new game ideas, of course it would be considered!

Q9 from Telegram user @KeymerS

How often will new betting sessions be held at Flushlol? and can I participate in all of them? regardless of whether you have lost or won multiple times?

Turd Burglar: It’s always live. New round starts right after the previous one ends. You can play any, multiple times. No restrictions

Q10 from Telegram user @DiegoRME

Competence of meme active?

Turd Burglar: yes, everyone is welcome to join flush meme competition 🙂 Just started today

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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

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

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

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Our partners:

Telegram: https://t.me/flushlol

Twitter: https://twitter.com/flushlol

Aleph.im is a cross-chain scalability network featuring decentralized computing, database storage and a DID framework. Aleph.im is currently focused on supercharging the DeFi ecosystem.

Today we are glad to tell you about the AMA session with our friends from Aleph.im. The AMA took place on December 18 and our guest were @claudio_101, @AdrienDLT and @Jonnyjonnyjon

The total reward pool was 10000 ALEPH and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

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

Moshe Malawach [AlephIM]: Hello! Happy to be here!

Mary | Satoshi Club: Welcome to Satoshi Club! Happy to see you here again!

Please, introduce yourself to our community and tell what’s new happened to Aleph.im since August. 😀

Moshe Malawach [AlephIM]: I am Jonathan Schemoul (alias Moshe Malawach) from aleph.im, I am here with @claudio_101 Claudio, our UX designer. Yup, a lot of new things happenned since then! We integrated the Cosmos and Polkadot ecosystems, Accepting their addresses on the network. We have worked on our staking and core channel nodes program, that is now going live… today!

Claudio_101 [AlephIM]: We have been working hard on this one! 😉

Mary | Satoshi Club: Wow!!! Already or some hours later?

Moshe Malawach [AlephIM]: Mmh, I can share the url with you here as a first! To register nodes and stake on them https://account.aleph.im You need an account with metamask or similar to login. 🙂

 The nodes that we are speaking about are these, the core channel nodes 🙂

Q1 from Telegram user @batrud

700,000 tokens need to be staked in order to create a NODE. That’s a huge amount for an average crypto user. How do you plan to attract medium users as well to participate in the nodes? Is it possible to create pools for that?

Moshe Malawach [AlephIM]: The idea is that there will be two types of nodes: the core channel nodes and the resources nodes. Here we are speaking about the core channel nodes. Those are the network controllers, they need to have skin in the game, they will decide who gets paid or not. And as a side note, to create a node, it’s 200k ALEPH. The 500k can be entrusted by the community. The resource nodes (coming in 2021) on the other hand will require no token collateral to start.

Let me share with you a quick comparison of the node types:

The network provides decentralized database, file storage and computing, the resource nodes will be providing this!

Mary | Satoshi Club: Which month, quarter are resource nodes coming?

Moshe Malawach [AlephIM]: ETA is currently mid-2021. Until then the core channel nodes will do that work as well. As the network is already live.

D. | Satoshi Club: So, core channel node always get reward, even if it’s goes offline?

Moshe Malawach [AlephIM]: No, if they go offline they don’t get paid. But they always receive rewards, even if they don’t provide a service at this exact time. As the service they provide is the network security and not just hosting or computing.

Mary | Satoshi Club: Do you users have possibility to join something like shared nodes services?

Moshe Malawach [AlephIM]: Mhh they can stake on any nodes, the staking needs at least 10k ALEPH. The node owner needs 200k to start the node. That being said, we will support smart contracts to allow pooling.

Mary | Satoshi Club: That’s good news! Can you tell the amount of rewards which node owners will receive approximately for one month?

Moshe Malawach [AlephIM]: Hard to say before having enough live nodes, the registration just opened right now when we shared the url here. 😉 The node owners get a share of 15k ALEPH daily, shared between all nodes that are active.

Moshe Malawach [AlephIM]: I can share our node operators one pager document here. 🙂

Q2 from Telegram user @alex_satang

In your whitepaper, it is written that the current state of applications is written (or computed from) on a blockchain, this is immutability. But what if you want instantaneous actions, batching user requests for non-critical items? When you say non critical items, what do you mean by that? how do you classify them as such? Also, is it possible to wrongly classify a critical asset as non-critical and exploit this somehow?

Moshe Malawach [AlephIM]: That’s a good question. Let’s take our staking for example. When you go on account.aleph.im and join a node as a staker, you sign a message, the message is taken into account instantly by the network, but the value date for it is the next ethereum block it gets included in and if there is thousands of messages that are waiting, they all get included as a single transaction the distinction is done on the application side: if you decide it’s critical you take the confirmation height/time, if not, the reception time that could be a bit before. I don’t think that there is that much of a risk, beside on virtual machine, but those will use a chain as a single source of truth (for ordering).

D. | Satoshi Club: And by the way, by now only ethereum users can take part in staking? if im not mistaken you working on cross-chain solutions?

Moshe Malawach [AlephIM]: There is a bunch, my-beta.aleph.im that is our personal storage dapp, blogtest.aleph.im that is the blogging dapp beta, starname.me that allows to receive cryptocurrencies with a simple name (it’s a partner), and a lot of others.

Claudio_101 [AlephIM]: We have the node and staking dapp. The storage dapp in beta. The note taking dapp in beta. A blog dapp in beta.

Mary | Satoshi Club: Starname, everyone can join?

Moshe Malawach [AlephIM]: Yup! using a ledger nano with their app on it you can use https://app.starname.me/, the user profile is stored on the aleph.im network, (name, description, picture…)

Q3 from Telegram user @madkaren

One of your use cases is related to Social Networks, Blogging Platforms, Chat Apps and Media Sharing App. This is especially interesting given the interest of big players like Facebook in this field. How are you going to implement your solutions for social media?

Moshe Malawach [AlephIM]: Using channels: the network is split into channels, each one with its own set of files and database entries. This way it’s fully scalable: not everyone stores everything, and the core channel coordinates everything. Basically all the social network data is stored on the aleph.im network as database entries and files, and retrieved from nodes that have the data.

This way we can achieve huge amount of data stored for each dApp. Also, our decentralized identity solution developed with synaps and ledger gives a single identity source (to have decentralized blue check marks, like the ones on twitter), and avoid spam.

Mary | Satoshi Club: How i, a single person, can use it? Or it’s using by platforms?

Moshe Malawach [AlephIM]: The network itself by developers, but you as a person can use the dApps built on the network. 🙂

Mary | Satoshi Club: What new developers currently preparing for users?

Moshe Malawach [AlephIM]: There is Orion protocol that works on a trading terminal, BCDiploma on a diploma verification platform, Serum that is a dex, Jarvis margineum for margin trading which is made trustless by aleph.im, and many others. Those aren’t directly on the social network side, but for trading we are working on trader profiles with verifiable trade records.

Q4 from Telegram user @surdumiha

I’m very interested in your serverless file storage. What are the requirements for the people to be part of this (i mean to contribute with their storage and get rewards)?

Moshe Malawach [AlephIM]: Those are the resource nodes, between 1-8TB of hard drive, and 32gm of ram at start, but it might be lowered between now and the actual resource nodes launch. As we have a few corporate clients who need to store on company computers (like all the company personal computer become the company cloud) or on small devices on-site (your printers become your cloud). So we will need to have “light” storage servers.

Mary | Satoshi Club: These nodes are not live yet, right?

Moshe Malawach [AlephIM]: Yup, not live yet. That being said, you can start a node right now, as the network is permissionless for that part, but you won’t get paid yet. The only nodes that are getting paid are the core channel nodes for now (until official launch).

Q5 from Telegram user @nasharussia1

There are very few entries in your explorer. Can you explain why is that so? Usually even not very popular projects tend to have a lot of activity and transactions.

Moshe Malawach [AlephIM]: Uhhhh, 12.5M entries there 😉 Even if we are a bit prunning the history right now when going on ethereum mainnet as a sync source for the new core channel nodes, the archival nodes (including the explorer) continue to hold these 12.5M messages. So there is plenty of entries!

But if you are speaking about ethereum erc-20 explorer, we did a token swap not that long ago, so the history is split between two erc-20 contracts.

Mary | Satoshi Club: Why did you need token swap?

Moshe Malawach [AlephIM]: Following the kucoin hack, to return the token the hacker took so the users didn’t lose their funds, we were able to do it back then, we won’t be able so easily now since the network gets decentralized with the core channel nodes. Such move will be made much much harder.

Mary | Satoshi Club: Oh, i thought about this. Was it hard decision? I know that some projects rejected swaps.

Moshe Malawach [AlephIM]: Yeah, really didn’t do it happily. We didn’t have the choice and it was the only option. We had to act fast, and we did. 🙂

Claudio_101 [AlephIM]: We got lots of credit for it from our community for this. We have a great community!

Mary | Satoshi Club: Sure, i understand, 50/50, that situation wasn’t good.

Moshe Malawach [AlephIM]: It has been hard due to the AMM pools as well. So we had to take it into account. For people on uniswap and balancer that weren’t able to remove liquidity on time, we gave them more ALEPH tokens.

Q6 from Telegram user @peachespecos

Looking on your roadmap, there is a dapp called Personal storage. Can you tell me if this dapp is running, and if yes how is the data/ information protected? Is it safe to use, and I’m thinking if there is not a high risk of losing the data?

Moshe Malawach [AlephIM]: It’s my-beta.aleph.im, live now. Data is hosted by the network that ensures it’s always live and stored on multiple places.

As for security of your private data, it’s encrypted end-to-end for your own private key using state of the art encryption (ECIES).

Mary | Satoshi Club: How can we use this dapp?

Moshe Malawach [AlephIM]: It’s pretty simple, go on the top right button, create an account, and you’re in! Then you can store files and notes instantly.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @BERTA2020

How relevant is ALEPH IM to DeFi?  How necessary is it and what role do you use?

Moshe Malawach [AlephIM]: Most DeFI protocols have centralized parts, on their frontend at least, with database servers… We offer to fully decentralize it. With computing for matching engines for example, with decentralized database for price feeds, orderbooks… And decentralized file storage for all the statics and website storage. We decentralize the last mile of DeFI.

Q2 from Telegram User @K2ice

How can I a create a node and what are the benefits I can get from creating a node?

Adrien: You can create a node by following the tutorial we just published moments ago. Essentially this is the first step to become a node operator. You will then validate the network, provide database (including file storage) services and be rewarded for it.

p.s. thats the tutorial: https://medium.com/aleph-im/aleph-im-node-registration-guide-ea2badb84e75

Q3 from Telegram User @tuvalunia

In your staking service, when can I unstake, and is there any fees for unstaking as a penalty?

Claudio_101 [AlephIM]: No, you can easily stake and unstake. No penalties. 😉

Q4 from Telegram User @Arisabela

Part of Aleph services is the Cloud Storage for personal or professional use. Is there a limit established of data to save per user?

Moshe Malawach [AlephIM]: It depends on your token count. In the first part of token utility it’s based on the amount of tokens you hold. The good part with it, is that as a user if you stake to secure the network you can also get a slowly growing storage allowance. In the second part of token utility, it will get consumed slowly as you use it (X$ equivalent/gb/minute).

Q5 from Telegram User @csgonub

Investing to a project needs great security of project and gaining user trust. Do you have any roadmap or plans to achive them?

Claudio_101 [AlephIM]: https://aleph.im/#/roadmap

Q6 from Telegram User @Pratze

I just curious why Aleph.im not doing presale / ICO? Can u please tell us the reason? So the only way to get your token by staking?

Moshe Malawach [AlephIM]: It was by staking back then in our NULS nodes, or be in an airdrop (we did one to holders of the dead project pikciochain back then). Now yes, you can buy ALEPH tokens and stake them or operate a node or provide liquidity to get more ALEPH. Another way once we have the resource nodes will be to operate one, no need to hold ALEPH before and you will get tokens.

Nice part about this is that you can provide storage for your own use and also get more storage from the cloud as a backup doing it.

Q7 from Telegram User @sj13sj

“Node Forge” seems to be the go-to place for setting up a node for people like me (non-technical crypto enthusiasts). Could you please explain how this collaboration came about and why they are trustworthy?

Moshe Malawach [AlephIM]: They have been providing node operation service for a few projects, and notably on NULS, in which community I personnaly was (as well as other team members). This is how we met them. They have always been trustworthy and provided a consistent and good service throughout the years.

Q8 from Telegram User @shair29

How to buy NEP5-ALEPH tokens? because NeoChain always my favorite and less gas fee.

Moshe Malawach [AlephIM]: NEP5 ALEPH isn’t currently traded anywhere.

Q9 from Telegram User @BERTA2020

Can you explain to me how the architecture of ALEPH is formed and how important is what this architecture is?

Claudio_101 [AlephIM]: The problem is that a lot of blockchain projects still have centralized part to their network. Parts like storage, databases and computing. So we could be of help there. Instead for projects to build it themself and loose time and resources we took that job upon us and make it blockchain agnositc. This way if they use our service they can say they really are fully decentralized.

Q10 from Telegram User @BERTA2020

Can you explain to me how the architecture of ALEPH is formed and how important is what this architecture is?

Adrien: I assume you mean tech architecture. So here you go for the full stack illustration. We have a layered architecture, with blockchains at the bottom and the aleph network (made of aleph nodes) above. Nodes store data and blockchain allow interactions on our network, in other words: you can only access/use our network through ethereum, polkadot, cosmos or other supported chains. The rest is quite similar to other projects with the SDK above followed by the DApps layer.

Q11 from Telegram User @Mamitabella

What is the Node registration for, is this to become a validator or is this requirement necessary to start the staking process?

Claudio_101 [AlephIM]: This is for becoming a validator, node operators as we call them. 😉

Q12 from Telegram User @azrayeni

Which wallet applications is your project compatible to use for?

Moshe Malawach [AlephIM]:All wallets of all compatible chains (Ethereum, NULS, Polkadot/Substrate based, Cosmos/Cosmos-SDK based). Integration is on the dApp side.

Q13 from Telegram User @A5loveZ3

Due to always crazy Etherum gas fee are you planning to move ALEPH ERC20 to Binance Smart Chain? Because BSC have very low Transaction fee.

Moshe Malawach [AlephIM]: Move, no, but support BSC as well, definitely, yes. Actually the network already supports BSC dApps messages.

Q14 from Telegram User @leixagarcia

Initially the supply of $ALEPH token was going to be 1,000,000,000 but it was cut in half. What was the reason for this?

Moshe Malawach [AlephIM]: We didn’t do an ICO or a private sale. We felt like the current part of the circulating supply should be bigger, as well as the parts due to the community (the incentives pool). So we decided to reduce the total supply by lowering all the pools beside the incentives one, and leaving the current circulating intact.

Q15 from Telegram User @tuvalunia

In your staking service, when can I unstake, and is there any fees for unstaking as a penalty?

Moshe Malawach [AlephIM]: No, no fees at all. Actually your ALEPH never leave your wallet, we couldn’t impose fees if we wanted. 🙂

Q15 from Telegram User @curiosoAMA

Until 2020 there is not a single project that does not mention the famous NFT… Does Aleph intend to create his own in the future?

Adrien: Actually we will NFTs in the future for staking. But more importantly we know that NFTs struggle in finding reliable decentralized solutions to store their metadata (i.e. images for a NFT card game) and we provide exactly that: a decentralized database and file storage service ready to host media of any size. So we expect NFT projects to use aleph.im a lot.

Q16 from Telegram User @frankvic

As an investor in the world of Blockchains, I would like to know what makes your project different from the rest that already exists. What makes them safer and more efficient?

Adrien: Aleph.im is not a blockchain. It is a peer-to-peer network with a built-in incentivization mechanism. Its custom network is built on top of technologies such as GossipSub and uses underlying chain consensus. Hence featuring no “direct” transaction fees on its network and low latency transactions (50–100ms). Our topology is unlike any other project and we are the only decentralized cloud project already supporting so many chains 🙌

Q17 from Telegram User @rogerass

How can Aleph team make this a long-term project and realize all the visions and missions that have been made?

Claudio_101 [AlephIM]: We’re already working 2 years on this project and we are planning to do many more. We still have so much to do: Did (digital identity), resource nodes, going from an mvp storage dapp to full featured storage dapp. These are all services that will be made available for purchase in the future. So this is one side of the revenue stream we will create.

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Aleph.im. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 7000 ALEPH 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: Aleph.im Project: https://t.me/alephim

Welcome to a new episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from Sokudo. The AMA took place on December 16 and our guest was Ren Osaka, project manager at Sokudo.

The total reward pool was 750$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

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

Sokudo Admin: Hi satoshi club members.

Mary | Satoshi Club: So, please, introduce yourself and Sokudo project to our community. 😄

Sokudo Admin: Guy’s I am Ren Osaka, project manager at Sokudo, and I am happy to say that we are a deflationary yield farming project.

We have a suite of defi products to be launched shortly. We are currently working on two essential products that will have SKD ( sokudo token ) integration in it.

Staking is live on our website sokudo.finance, and people get good rewards for staking their LP’s. We have a partnership with FERRUM NETWORK as we are using their staking service for NFT’s.

Mary | Satoshi Club: A lot of things already done👍 do you have a big team?

Sokudo Admin: Yes, we have a team of 15 members working with us, 2 NFT creators, 3 blockchain developers, 2 web dev’s, 2 accounting members, 1 project manager (me) and 7 freelancers for the marketing of the project. That’s actually 17 members in total. As 2 marketing people we hired them just today.

D. | Satoshi Club: And now time for the questions! And now time for the questions!

Sokudo Admin: Sure, happy to answer them.

Q1 from Telegram username @KevSalom

It’s a little uncomfortable to want to find out about a project of interest and find almost no information on your site or your medium’s blog. When will you create your whitepaper and publish project data such as your mission, vision, team and so on? This will undoubtedly increase your confidence in Sokudo.

Sokudo Admin: We have many things to cover in the whitepaper, and it shall be done by the end of this week. and we will do it with the road map, as this is not a small project and we have so many things to include in the project roadmap and white paper, we are working on our incubator site, sokudo.capital as we have already been approached by 7 startups here in japan with their defi and yield farming projects. so sokudo will be the launchpad for these projects.

Things are moving fast and we are working on the whitepaper with all the details. so by sunday you can expect the whitepaper.

D. | Satoshi Club: And what about team? are planning to stay anonymous?

Sokudo Admin: Yes team will be anonymous for the betterment of the project.

Q2 from Telegram username @nadynas

You had 2 rounds of sale until now. How successful they were and do you plan to do more? Did you achieve any partnership with big investment or capital groups which sponsors the startups?

Sokudo Admin: Also i want to mention about the various versions of the whitepaper we will have, we have english, french, spanish, japanese, vietnamese, polish, swedish, filipino, brazilian & portugese, sokudo community groups who will help us to create whitepaper in their native languages. These groups are already active and have a good amount of members in them.

So we had 2 round of pre-sales and the second one was pretty successful and we secured a good amount of eth around 151 eth after paying to influencers, and promoters. we didn’t got partnered with any investment capital groups. but we have a VC we are working with currently and we shall announce after it’s confirmed. they like the tokenomics.

Mary | Satoshi Club: It’s good! Hope you will onboard them! One more announcement we are waiting from you. 😄

Q3 from Telegram username @nellybarty

On your first page, the APY is 260.36. On your about page, it’s 25800%. How comes there is such a big difference? Where does it come from?

Sokudo Admin: Apy is dynamic and it changes based on the no of staker in the pool and price of skd. when we initially launched the apy was more than 100k% as the price of SKD was ranging between $300-400. Apy is dynamic and it will keep changing based on those 2 factors which i have mentioned.

Mary | Satoshi Club: Hope, it will rise again soon. 😉

Sokudo Admin: It will as the supply is only 3k right now and every 2 weeks the reward reduces from 100 skd to 50skd and then to 25 and then to 12.5… like this. So the supply will not increase more than 4k till the next few years.

D. | Satoshi Club: Thank you for answer! next question is coming…

Q4 from Telegram username @Highpee

Based on the article you published in your Medium, your project has two tokens, $SKD and $IKIOI, with $SKD being your native token. It is clear how we can farm more $SKD token but no much information as to what to stake to earn $IKIOI or what the APY will be. What will the $IKIOI token be used for? And which of this tokens should we hold in order to be eligible to participate in governance?

Sokudo Admin: We are preparing for the IKIOI (meaning in english = momentum) token launch in the month of JAN 2021. the best way to get IKIOI is through the pre-sale that we will conduct in JAN 2021. APY will be in the range of 20-30k %. IKIOI will be used to farm NFT’s which you can sell on our NFT MARKETPLACE – NDEX.

D. | Satoshi Club: How many tokens will be allocated for pre-sale?

Sokudo Admin: As always the early farmers who join IKIOI will get the NFT’s. 5k priced same like SKD around $55-75.

Mary | Satoshi Club: And total supply?

Sokudo Admin: 5k will be initial supply and total supply will be not more than 12k. 5k for pre-sale and 5k for team vested for 1 year so we don’t get all tokens in one go. Like in sokudo we get only 27 tokens per day as a reward.

If you don’t mind can i put some NFT’s that we created for some of our promoters? just so that people can see the art of our NFT creators.

Q5 from Telegram username @JesusFre1tes

SOKUDO is launching a unique NFT platform where SKD farmers can sell their NFT generated from IKIOI agriculture. My question is, what features will these NFTs have? Many of today’s DeFi projects bring only symbolic value to their NFTs, will Sokudo change this? How rare, special and valuable will your TNs be?

Sokudo Admin: We gurantee that our nft’s are unique and will have a pre-valued evaluation. By our nft valuation team. This is something you might have not heard till now, and we are not like rari, rari gives only eth option for buyers and sellers. NDEX will have integration of our native token SKD. This will increase the adoption on SKD globally.

Mary | Satoshi Club: So, we will be able to trade for SKD and ETH? Right?

Sokudo Admin: For now, we have eth and skd options, people who use skd as payment option they get a 10% discount on the price.

Yes ofc, on uniswap.

Q6 from Telegram username @konditer_rolex

Solidity.Finance published their audit report. If I understand correctly, you retained the ability to mint tokens at any time. This may scare off investors. Have you removed this feature, or have everything left unchanged for now?

Sokudo Admin:We left that function as the transaction cancelled at the last moment to remove that mint function…we informed this to solidity team….but we have renounced the ownership and cannot change anything now.

Mary | Satoshi Club: What does it mean ‘renounced the ownership’?

Sokudo Admin: Cancelling the ownership of the contract to make any more changes to the contract.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @JoxesXIII

Is there any reason why you have decided to enter and participate in the Ferrum Network staking program in these very early stages of the project?

Sokudo Admin: Yes we were approached by FERRUM, and we saw they are good to become a partner, and they have some good staking services which are ready to use for us, this will reduce a lot of our teams efforts and helps us launch nft staking at a early stage where as it was launched in jan-feb 2021.

Q2 from Telegram User @leixagarcia

In your Sokudonomics you mention that “there will be no marketing token”, first time I really see it, usually the projects leave some percentage for this area. What is the reason for this?

Sokudo Admin: We have 27 tokens / day reward which we are using for payments to marketing people.

Q3 from Telegram User @Gutike95

On which exchange is the native Sokudo $ SKD tokens listed? And what will be the next platform on which they will be listed?

Sokudo Admin: In uniswap we are listed already and we are in talks with bitmax, idex and bilaxy… hoo exchange we are already approved just need to add liquidity there.

Q4 from Telegram User @bathulosnom

What is the 4% TAX for DEV team? From where the TAX come from?

Sokudo Admin: The tax option was to add more dev funds which we can use to increase liquidity, but we removed it as it was looking to investors as a point of greed.

Q5 from Telegram User @quocnguyen1234

Do Sokudonomics see who your biggest competitors are right now, and what do you think of your own projects in comparison to those projects? and what weaknesses in your project need to be addressed in order for users to choose your project over a competitor?

Sokudo Admin: Yes we see RARI as our biggest competitor, so we are building a better platform than rari and offer a launchpad for startups to launch their yied farming projects on sokudo.

Q6 from Telegram User @konditer_rolex

Tell us about the fundraising platform and when will we know the names of the first startups that passed the KYC test? SKD owners are ready to invest and await news.

Sokudo Admin: Yes sure, we have been approached by 10 different yield farming projects and we have so far approved 2 projects and verified their kyc, so they can launch on sokudo platform and skd holders can safely invest in them as we are taking the funds gurantee for all our skd investors. and also if people invest in these startups with skd they get bonus tokens this is the rule we have set..can say we are following BNB.

Q7 from Telegram User @BJosefina61

Not having used a token generator is great, good to know. Now, how are the audits at the moment and how confident are you in the team’s devs and yourself?

Sokudo Admin: Thanks, yes we have inhouse developers and we have not used any token generator as this is a custom contract. you can have a look at the final report from the solidity team here: https://solidity.finance/audits/Sokudo/

Q8 from Telegram User @PyaraLarka

What is the minimum $SKD required to to stake SKD tokens?

Sokudo Admin: No minimum tokens you can invest as much as you want.

Q9 from Telegram User @cryptofollower

For users to invest to a project, trust and security of project is really important. Can you tell me about them?

Sokudo Admin: Yes we have done a lot things to instill the user trust, by locking the liquidity for next 6 years: https://twitter.com/SokudoF/status/1337754271261937666.

Burnt 7k tokens https://twitter.com/SokudoF/status/1337717723334250497

Compensating skd holders due to the initial launch hiccups with daily $1k worth of USDT https://twitter.com/SokudoF/status/1338270033105960961

$SKD – Sokudo Members – USDT Airdrop #2 Completed Just now…have a look in your wallets. We have airdropped to all holders holding atleast a minimum of 1 $SKD.

Here is the proof-of-transaction: https://t.co/DGTMWM8Xit

— Shiba (@shib3223) December 15, 2020

$SKD members USDT Airdrop #3 Completed Just now…have a look in your wallets. We have airdropped to all holders holding atleast a minimum of 1 SKD.https://t.co/xWLfDe9xmL

— Shiba (@shib3223) December 16, 2020

Total 3k worth of airdrop distributed in last 3 days and for NDEX and SOKUDO CAPITAL (launchpad) SKD is needed.

Q10 from Telegram User @Rodriguez52

How to purchase $SKD token and What is the selling strategy and Is there a reward for buying a mammoth amount of $SKD?

Sokudo Admin: The more SKD you have the more chance of making higher profit in future, once we launch NDEX and SOKUDO CAPITAL there will be a flood of new investors in the project. SKD price will skyrocket as there is very less supply.

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Sokudo. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 450$ 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:

Sokudo Finance: https://t.me/sokudofinance

Website: https://sokudo.finance

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Digitalax and our guest was the CEO and Founder of Digitalax Emma-Jane. The AMA took place on 22 December.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

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

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

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

D. | Satoshi Club: hello Satoshi club!

@emmajane13 hello and welcome!

Emma-Jane MacKinnon-Lee: Hello Everyone!!

Mary | Satoshi Club: Hello, Emma! How are you today?)

Emma-Jane MacKinnon-Lee: I am going great! How are you?

Mary | Satoshi Club: Fine, thank you! Please, can you introduce yourself and tell us more about your beautiful project)

Emma-Jane MacKinnon-Lee: Sure, my name is Emma-Jane, I am the CEO and Founder of DIGITALAX

DIGITALAX is the first digital fashion NFT project on Ethereum. Our focus is around how you can enable the digital fashion designer with new distribution channels for being able to access our native digital economies of the future. Digital Fashion is a new market and has huge potential for the future, particularly with the growth across real time 3D content when it comes to gaming, VR etc

We are covering a number of verticals on our platform;

– Single edition limited auctions for 3D hyper realistic digital fashion garments on our marketplace here: http://marketplace.digitalax.xyz/.

Mary | Satoshi Club: How did you get this idea? Did you work in fashion industry before?

Emma-Jane MacKinnon-Lee: My background is engineering and I have been in the crypto/blockchain space for a number of years.. both a founding partner of a crypto hedgefund in Australia and Dubai and also was part of the core team leading a Dubai government initititive where we were appointed by the Dubai government to lead their 2020 Blockchain Foresight Inititiative for implementing blockchain into industries

But i have a huge passion for gaming. I am really interested in Digital Fashion due to its first principal characteristics— being able to self express and show your identity are first principals of human nature. It has been the same for 1000s of years and won’t change, even in a digital environment. So, as we become more immersed in “digital”, people are going to start placing more emphasis on being able to self express. Fashion has been a core industry for thousands of years and provides a distinct method and channel of communication.

Mary | Satoshi Club: Everything becomes digital nowadays  it’s really cool what you’re doing!

Emma-Jane MacKinnon-Lee: thank you, definitely we believe that digital only is the future and that NFTs can provide a very scalable distribution channel for digital goods

Mary | Satoshi Cluba: Btw, i see that you give as prizes 3 free tickets to the VIP room, could you explain more about this?

Emma-Jane MacKinnon-Lee: Yes we do! DIGITALAX recently announced our first big partnership! Our digital fashion NFTs are being accepted by a non-blockchain virtual world app (Youcan) where our digital fashion can be worn by the avatars in the world. It is a huge innovation for the space where this non blockchain company is actually accepting our fashion under NFT standards… as part of this we also partnered with the company for a huge virtual concert this NYE!

There are performances by top renowned artists Farina, TOOSII (Just signed with capital records) and the show is hosted by amanda cerny

altogether there is over 60 million follower reach and DIGITALAX has the official VIP crypto virtual world room

Mary | Satoshi Club: Wow, this is huge!

Emma-Jane MacKinnon-Lee: so you can buy tickets and come and watch the concert virtually (just download the app) as an avatar in our room!

https://vimeo.com/490028285/

check out the room here ^^^

Mary | Satoshi Club: I never participated in such events, it’s exciting

Emma-Jane MacKinnon-Lee: I think that it represents a huge use case for the future.. digital concerts and digital fashion merchandising!

D. | Satoshi Club: looks amazing

Emma-Jane MacKinnon-Lee: Thank you! The team worked really hard and are super excited about this!

D. | Satoshi ClubL and thank you for this cool intro!

ready for the first part of our AMA?

Emma-Jane MacKinnon-Lee: sounds good!

Q1 from Telegram user  @Winterkom

Why did you decide to focus the NFT on the fashion world? And at the same time an end of year concert? Aren’t these areas very different for Digitalax?

Emma-Jane MacKinnon-Lee: DIGITALAX sees NFTs as a great distribution channel for enabling digital fashion distribution, particuarly when it comes to being able to streamline the process of shipping content into gaming, VR environments and be able to verify KYC, identity, payments and also modularise the different garment components from a material/pattern level and have this tracked on-chain. The concert isn’t out of our scope.. it might seem like this.. but one of the biggest business models for digital fashion is leaning towards merchandising of digital assets for virtual concerts! So this is a huge first use case we are able to show at only 3 weeks old protocol!

Mary | Satoshi Club: Do you know what opinion have gamers about this?)

Emma-Jane MacKinnon-Lee: In which context? Do you mean from a distribution sense or the use of blockchain in gaming?

Mary | Satoshi Club: Both

Emma-Jane MacKinnon-Lee: okay great, let me dive into this

This is a big topic and something that gets asked a lot. First I will say that I think that there is a bad reputation in the application and usage of blockchain in general. When the tech was first introduced into the more “mainstream” there was a lot of hype and people trying to find application and fit across a lot of use cases where in the end it proved not even necessary and legacy systems worked just as well or if not better. Now, there is a lot of skepticism around “is blockchain even needed?”. I think that asking this question has become really healthy and represents a shift towards greater maturity in the space.

For NFTs in particular, and commenting more from a digital fashion perspective, I think that there are two parts that I need to address;

1. Leveraging the features of authenticity of blockchain tech provides a unique case for issuing natively digital content, particularly digital fashion and when thinking of this from a supply chain point of view. Being able to transparently and truthfully verify a designer against their digital content can work to enable a much more efficient and streamlined digital supply chain when it comes to KYC, payments, identity etc. and also enable completely new business models and monetisation streams, especially due to the composability it can enable. We can work to build scalability of better open source libraries of materials, patterns, textures that can be mixed and matched by other designers into different garments and clothing and then have these modular material/pattern issuers be able to monetise off of their modular contribution. Having all of this  verified and tracked on-chain at such a component/building block level gives scalability to digital distribution from a programmability perspective— the garment is modular and composable with aspects of KYC, payments automatically programmed/in-built and “single source of truth” verified.

2. A lot of the push around blockchain and gaming comes from the concept of gamers being able to truly own their game assets and separate these from the virtual environment that they are playing in. Although I believe that there is value and interest in this area, particularly when it comes to metaverses and more “build your own” worlds/games, I still think that this heuristic is quite far from mass adoption in the traditional gaming/VR space— frankly, the reality is that the majority of the almost 3 billion gamers just don’t care whether or not they truly own their in-game assets. They go into the game for a few hours to have an experience. Therefore, in this case I think that the idea of having blockchain tech for in-game assets still doesn’t fill a huge requirement and in fact isn’t really needed. However, for the “pre-content” stage of the actual digital supply chain itself in streamlining the shipping of these digital assets into the game through KYC, payments could be interesting. A) there is a much bigger shift towards downloadable content (DLC) for games as a business model B) there is a bigger shift towards secondary marketplace DLC and outsourcing of DLC creation. So, streamlining this process could have interesting applications with blockchain.

Mary | Satoshi Club: Ok, i see word KYC) do we really need KYC if we already have blockchain? On which stage we need it?

Emma-Jane MacKinnon-Lee: When I talk about KYC I guess I am speaking more from the sense of enabling on-chain identity of designers down to a modular/material level and being able to track this. This is where DIGITALAX is looking at use cases around fractional garment ownership and how designers can issue modular components of a garment on-chain and open source this into digital libraries for other designers to come and leverage into their own master clothing pieces

We just displayed the first of this use case with our Auction02 with the OG crypto artist ROBNESS

Mary | Satoshi Club: Oh, i got it

Emma-Jane MacKinnon-Lee: he created the dimensional fabrics, materials and we issued these as ERC-1155 NFTs and then our designers took these and used them within their master garments, issued as ERC-721s.

We have ERC-998 variant contracts that attach the ERC-1155s to these master garments on-chain

Mary | Satoshi Club: Lol, i really read this like a news from the future) but it’s here!

Emma-Jane MacKinnon-Lee: yes, technology moves faster than we think!

humans can’t think in terms of exponential

but technology moves that fast!

D. | Satoshi Club: thank you for great answers!  ready for the next question?

Emma-Jane MacKinnon-Lee: YES!!

Q2 from Telegram user @Brainchest

Applications in which I can use clothes purchased on Digitalax are limited to working on a specific blockchain? For example, if I bought a cool suit and makasins on Digitalax during a fashion show, then I can use them in any application/game that supports the ERC-721 format, and what if I need to use this suit in an application that does not support the NFT format? For example, the famous game Second Life with a huge world and a variety of things. Is there a bridge thanks to which I can transform the purchased clothes from NFT into a format suitable for a non-blockchain application?

Emma-Jane MacKinnon-Lee: This is a great question!

Actually I can give you a very specific answer.. DIGITALAX just partnered with Youcan https://www.youcanevent.com/  …. they are a leading NON BLOCKCHAIN virtual world app located here in Silicon Valley, they have partnered with NASA, Microsoft, Dolce and Gobbana to build amazing virtual worlds and experiences

DIGITALAX is the first NFT company to have our NFTs recognised by a non-blockchain company and maintain the “digital ownership” standards

https://drive.google.com/file/d/1CSurXI5NbTKXVrCErDo-wwW9x9uhd-JF/view/

see here for the full terms we had with Youcan ^

DIGITALAX’s whole bigger vision is all about interoperability .. how you can enable NFTs with more application… we believe that this comes through pushing cross platform recognition between both BLOCKCHAIN and NON BLOCKCHAIN companies!

D. | Satoshi Club: awesome! so we can use your NFTs outside of blockchain?

Emma-Jane MacKinnon-Lee: Yes you can!!

and your ownership is recognised

i.e. if you bought a single edition on DIGITALAX

then you will have the only ONE in Youcan!!

Mary | Satoshi Club: Which is your development priority – your development in the blockchain world or it’s connection with non-blockchain world?)

Emma-Jane MacKinnon-Lee: That is a great question

1. Non-blockchain is much more scalable, there is much more opportunity at the moment as the non blockchain gaming sector is still young, still growing

2. However, the blockchain gaming sector will enable great on-chain use cases that DIGITALAX definitely will explore

Mary | Satoshi Club: Yes, i understand)

Emma-Jane MacKinnon-Lee:

🙃🙃

D. | Satoshi Club: thank you! im very curious how you project will be evolving, and what we can see from you in the future :

Emma-Jane MacKinnon-Lee: That is a difficult question to answer if I am honest as there is a lot that I can give you. So, I will try and break this down the best that I can

Mary | Satoshi Club: I think the day will come when we will not divide these worlds)

Emma-Jane MacKinnon-Lee: 1. We are a startup, our day to day is hectic, we don’t sleep, we don’t stop moving. Our focus is around moving FAST. How you can disrupt, hit big goals and make sure that we are pushing as hard as we can to bring new value into crypto, NFTs and our community. We are focused across developing out more of our marketplace, increasing our designer and brand reach, partnering with more games/virtual ecosystems to have our NFTs accepted and also streamlining and scaling our fractional garment ownership supply chain

2. Long term however we are focused on positioning as the digital fashion platform/engine for all gaming, VR, 3D content. Digital fashion will eventually become its own multi-trillion dollar market segment, and at DIGITALAX we want to enable designers, brands, fashion houses to be able to use our tool stack to distribute into these 3D worlds and new customers!

Mary | Satoshi Club: And i see that you’re moving really fast! And it seems that you know what are you doing

Ready to proceed?

Emma-Jane MacKinnon-Lee: let’s proceed!

Q3 from Telegram user @zaferce

How do you evaluate the acceptance of the MONA token by OpenSea for payments and transactions, and how will the use of MONA in the OpenSea marketplace benefit DIGITALAX?

Emma-Jane MacKinnon-Lee: This was a great next step for our protocol and we are really thankful to the OpenSea team for working with us.. thank you Devin, Hamish and Alex!

Mary | Satoshi Club: As i see you are working close with them

Emma-Jane MacKinnon-Lee: At the moment DIGITALAX does not have a secondary marketplace on our platform so we hope that acceptance of $MONA on OpenSea will bring more distribution, access to our community and users to have utility of our token on secondary marketplaces. We are still building out our platform.. actually we have some really exciting development updates coming out early January and utility for token!

Mary | Satoshi Club: But you plan your own marketplace?

Or you already have it?

Emma-Jane MacKinnon-Lee: Yes we do have our own marketplace… right now we just have our auctions live.

We are bringing in new products, development updates that can enable greater distribution for digital fashion, our designers and the different use cases we are bringing forward. In Jan we are launching “instant buy” contracts for collections of designs rather than just 1 of 1s (single editions)

Mary | Satoshi Club: Great! Waiting for this launch!)

Ready to go to the next question?

Emma-Jane MacKinnon-Lee: We just launched a new product actually!

Q4 from Telegram user @konditer_rolex

I chose a fashionable panties for myself at the auction for $915. Unfortunately, it turned out that they were sold. And I was even more upset that there are no active auctions on the platform. Tell me the completed auctions were real or is this just a platform test? And what does “estimate apy” mean under every product? By the way, “Crypto Bitch” is very cool but very expensive

Emma-Jane MacKinnon-Lee: We were just as humbled I think as everyone else at how popular our designs were with the first auction, let alone the second! I can personally say that I never expected such a reaction from the community and such support. We understand that this also was a bit of a “catch 22” where it meant that a lot of people couldn’t get involved and participate

The auctions were real and not a test but they only at the moment run for a limited time. This is why we are wanting to expand our marketplace, bring in non-exclusive designs and allow instant buys that aren’t time sensitive

Mary | Satoshi Club: Yes, i see) hope all your users will get more chances to buy what they like)

Emma-Jane MacKinnon-Lee: APY on the auction platform stated for each design is an estimate based on the current Ethereum lock up in the fashion garment NFT staking pool. This is the projected estimate APY that owning this fashion item would result for you if you were to stake this item to earn $MONA rewards

Thank you for the compliments on Crypto Bitch.. the designer is Msistema from Belgium!

Mary | Satoshi Club: Thank you for your answers! And now you can tell us more about your new product, right?

Emma-Jane MacKinnon-Lee: Okay sure yes!

It is called PODE = The Perpetual Ownership and Digital Economy NFT. This is DIGITALAX’s first Lifetime Access card for all of our virtual experiences, digital events and gaming partnerships that we will be enabling through our project!

You can read more here: https://digitalax.medium.com/perpetual-ownership-digital-economy-pode-utility-nft-a9c4385ba5a/

There is only a 500 supply and ultimately owning one gets you free lifetime access to a lot of the cool gaming, VR stuff that we are bringing forth, gets you exclusive NFT drops and some more exciting things being released in Jan!

Mary | Satoshi Club: How we can get this card?) Will it be as hard as buy panties?

Emma-Jane MacKinnon-Lee: It is purely utility, can’t be traded

It can be purchased through a metamask wallet here: http://pode.digitalax.xyz/

D. | Satoshi Club: by the way, how do you find designers? or you working only with designers from your team?

Emma-Jane MacKinnon-Lee: Sure I can answer this great question!

In October we did a lot of hustling and we reached out to 100s of designers and told them about our idea and asked them if they want to come on board!

A lot of them had no idea about crypto at all!

But they were really excited about how we were planning to take on the 4 trillion fashion market and enable the independent designer with a completely new opportunity

Mary | Satoshi Club: I think it was interesting to see their reaction)

Btw, did you reach some famous names in fashion industry?

Emma-Jane MacKinnon-Lee: We have some cool updates coming , stay tuned

Mary | Satoshi Club: It’s definitely what i will stay tuned for)

Ready to jump to the next question?

Emma-Jane MacKinnon-Lee: READY!

Q5 from Telegram user @AmirJosh

PODE holders will have a surprise in Jan 2021. I know it is a secret for now but how big this announcement will be ? Can you give us some hints.

Emma-Jane MacKinnon-Lee: I will say this much… i am in Silicon Valley and we just set up a gaming hacker space.. and we are working really hard to develop super cool products.. I can’t wait to show you guys! It is 2am here for me and we will be working through the night don’t worry!

Mary | Satoshi Club: Wow! That’s really exciting!

So, we have small hint now)

D. | Satoshi Club: so this secret won’t be revealed today we waiting for announcements then

Q6 from Telegram user @agz18

What kind of work does DIGITALAX do on the creation of game, VR, 3D content and how are digital Fashion NFTs including these products displayed in VR-enabled digital fashion showrooms?

Emma-Jane MacKinnon-Lee: Another great question!

We started focused on just digital fashion … however, as we scale and grow we will be looking more into the development and creation side of 3D content itself when it comes to enabling digital experiences. We think that having control of some of this creative process will allow us to be able to innovate and disrupt even more, however, we also want to integrate with pre-existing platforms.

Digital fashion showrooms.. this is something coming out of the hacker space! We are working on it don’t worry, but want to make sure it is going to be a great experience when it comes out!

Mary | Satoshi Club: I can’t imagine how it will look like)

On which stage is its development? More then just idea?

Emma-Jane MacKinnon-Lee: Still some time to go but yes more than idea.. we don’t sleep

Mary | Satoshi Club: You need a bit) i know what i am talking about

I mean sleep)

Emma-Jane MacKinnon-Lee: aha yes

Part 2 — live questions from the Telegram community

Q1 from Telegram user @AugusS7

I understand that with PODE you will have free access to multiple select games, VR and multiple 3D content, but really what software and equipment do you need to enjoy these services?

Emma-Jane: I will first reply to this question. We understand that VR headsets and systems are not common place. We are making sure that our experiences will have a general distribution that all holders can access i.e. web browser, phone app download. For some events we will have options for users with VR systems to experience our products through that also.

Our NYE Virtual Concert is just app download on desktop computer! This means that anyone can enjoy it without needing a VR headset of any kind

Q2 from Telegram user @KeymerS

Is it possible to lose the PODE tokens due to some infringement or breach of the users? Or failing that, that their benefits are blocked for a period of time?

Emma-Jane: PODE tokens can’t be taken away. They represent “Access” and are a utility NFT. They can’t be traded and are locked in a buyers wallet— we want to keep a strong emphasis on their utility “pass” features. However, the NFT drops that PODE holder’s will receive won’t be locked and can be traded on secondary marketplaces.

PODE doesn’t have any governance features, it is purely a digital experiences/virtual experiences NFT. We wanted to bring this forth as well as a committment to the community that DIGITALAX will be going after the gaming, VR market and moving fast to bring more exciting partnerships, updates, products to our users/holders. We also believe that this kind of utilty NFT will be a big use case in the future that other platforms will start to adopt.

Q3. from Telegram user @Market Adam

Do you invest to security and also protection for into your project? Can you explain the details?

Emma-Jane: Yes we very much did so. You can see our transparency reports here (We are releasing about 1-2 each month) which explains our burn rates, how we spend our resources;

https://digitalax.medium.com/transparency-report-november-12th-2020-36b1da78c09c/

https://digitalax.medium.com/transparency-report-november-27th-2020-ac33b99b1250

You can see here that we have completed audits of each of our deployed contracts and maintain security as a core focus in all of our work, this is a big priority.

Q4. from Telegram user @CryptoF55

hi @emmajane13.  in the future, is it possible to quantify the level of decentralization and economic incentivization? highlight more on the decentralization aspect using your technology.

Emma-Jane: We are moving towards greater decentralisation in two ways;

1. Through the governance of the platform itself. $MONA and Genesis MONA NFT holders will be able to vote on aspects of treasury allocation, R&D, operations and the directional roadmap of the protocol. Since we are still a young start up we can’t move into full decentralisation straight away, it would be really chaotic. But we are putting in first steps, both technically and in terms of community set up, to get there as fast as possible and still be able to maintain sustainabilty and growth of the platform. We are starting to accept community proposals through our discourse here! https://community.digitalax.xyz/

2. Through our digital supply chain. We are democratising this process through our fractional garment ownership structure that will eventually reach more automation of allowing any designers, creators, artists to issue and monetise off modular components of a design and release this into the DIGITALAX digital open source libraries of materials, patterns, textures. These can then be leveraged by other designers, developers in their own creative process and cross platform content shipping

Q5. from Telegram user @DrCassiterite

Brief the core background history that birthed DIGITALAS project   ?

Emma-Jane: This is a good question.Our vision is all about enabling the development of new digital economies of scale that empower true digital self expression. And, in order to achieve this, we are focusing on empowering the digital fashion designer— enabling them with the right technologies and distribution channels to be able to access these new market segments and the future customers of the fashion industry.

Really the birth of the project came from understanding that digital fashion will be a huge industry in the future, but right now, not much is being done about that or to grow or scale that. We believe that digital fashion will be able to enable greater self expression and identity fulfillment within the future virtual worlds. This might sound not so important now… but remember… a few years ago people thought the same about the internet… now your whole identity is shaped and formed by your online presence, we place a lot of emphasis on this, more than what we probably think!

Q6 from Telegram user @Spott

It’s hard for investors to trust and invest in new projects lately and most the project have claimed to be falsified, How do make investors trust DIGITALAS     ?

Emma-Jane: The crypto space in general has a bad reputation for a lot of scams and manipulation of investor’s funds. We understand as a startup coming into this space that it is a huge barrier that we need to address and also something that can hinder the growth of new projects… you know how the saying goes, one bad apple can ruin the bunch!

We can’t expect to change everyone’s minds or instill trust in our project/team within the first day, weeks, month. That just isn’t possible.

So you asked how we are addressing this? Well, quite simply I believe. At DIGITALAX we are about actions NOT talk. We believe that the best way to show is just to DO! So, that is really why we are working so hard… why write papers, articles or try and convince people.. when the best way is to go out there and do what we are saying and then let people decide for themselves and feel comfortable whether or not our project is on the right track and working towards a vision that they want to be a part of !

Q7 from Telegram user @Raisbyels Romero

In your Medium blog it says that its objective is a much wider distribution and reach, but how will it really get an even wider restricting the possibility of obtaining PODE to your users until 12/27? why not extend this period?reach, if it is

Emma-Jane: PODE is something completely new, not just for DIGITALAX but also for the wider NFT space when it comes to putting forward an interoperable utility NFT. Our community is still small, we are starting with a limited edition but this doesn’t mean we are blocking off new products and features for new users in the future.

We have so much planned and can’t wait to grow our community and keep bringing in new adoption, greater experiences and disruption and innovation.

Q8 from Telegram user @topind7

A lots of projects only talk about their strong points, what can you tell us about your weak points?

Emma-Jane: We are still small, still growing, still are very new in the space. I would say that as a team we know that there are huge mountains to climb. For us we are just at the very very beginning. Our biggest priority at the moment is really wanting to bring our protocol towards greater sustainability to create a healthy ecosystem, community and product that adds value.

Q9 from Telegram user @uzh98

What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?

Emma-Jane: Our project has a lot of new components that we are bringing forward when it comes to both the new market of digital fashion that we are introducing into the NFT space and also the new concepts that our vision touches on i.e. interoperability of digital assets through a streamlined and fractionalised supply chain.

Therefore, raising awareness is definitely a huge part that our team is working on … as in turn this will work to raise adoption. We are tackling this by working hard to be able to show the community more use cases and tangible products i.e. our auctions, our gaming partnerships etc. I think that by being able to let people “see” what we are doing has helped us a lot. Before we even started the auctions there was a lot of questions around “What are digital fashion auctions?”.. now that we have had 2 people understand a lot more of what digital fashion is and how it can be distributed. I think that we are still early and there is a long way to go, but we are taking new steps each day.

 Q10 from Telegram user @Rodriguez52

🪐Are you sure that $PODE will be in great demand in the long term? Give me a strong point to hold your token for a long period??

Emma-Jane: This is ultimately for an individual to decide and see that if they believe that it will add value to them and where their interests lies.

What we are offering our users with PODE is lifetime long access (A purely Utility NFT) of being able to experience and engage with the different digital, virtual and gaming partnerships, experiences and events that we will keep pushing forward, as well as a range of exclusive NFT asset enabled “drops”. We want to enable this for the early adopters and believers in our project and what our team can achieve.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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

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

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

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Our partners:

Telegram: https://t.me/digitalaxTG /

PART 1. Introduction of Secret Network project and community questions.

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Secret Network and our guest was Tor Bair who is Founder of Secret Foundation, one of the core contributors to Secret Network. The AMA took place on 17^th of December.

 The AMA session was divided into 3 parts with a total crypto reward pool of 1200$.

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

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and D. | Satoshi Club – @Cool_as_Ice

The Representative of the project:

Unique G: Will never DM first – admin of the Uniq Telegram group.

Introduction of Unique.one project

Gold Rocket | Satoshi Club:

Good morning friends! Let’s start our AMA marathon!

D| Satoshi Club:

Hello, Satoshi club! our AMA session today with Unique.one! @un1qu hello and welcome!

Gold Rocket | Satoshi Club:

@un1qu We are glad to welcome you to Satoshi Club!👋

Unique G: Will never DM first:

Hi everyone.

I am really glad and honored to be here with Satoshi Club members.  I have been a follower of Satoshi Club for a while now and have seen the tremendous growth achieved by the admin.  Congratulations on having a wonderful community.  Here at Unique One, we are also a community-based project and I hope to explain more about this during this session.

D| Satoshi Club:

Thank you very much for your kind words! 😊

Gold Rocket | Satoshi Club:

Thanks for joining😊

Unique G: Will never DM first:

Thank you.

Gold Rocket | Satoshi Club:

First, tell a little about yourself😊

D| Satoshi Club:

Yes, let’s start with a brief intro 😊

Unique G: Will never DM first:

I am Unique G and I am the admin for our Telegram group.  We are a group of crypto purists and we have mainly been investors but also have been involved in crypto projects in this space for several years.  We say we are purists in the sense that we abhor any involvement of corporations in this space.  The ideal crypto project should belong to the community and not by a handful of people and certainly not profit-seeking corporations.

Gold Rocket | Satoshi Club:

And also we are very interested to learn more about your project😊 A very interesting course. this is my first time hearing about purists. but I really support it 😁

Unique G: Will never DM first:

Absolutely, let me explain why we embarked on this project. We saw that most of the NFT Art marketplaces are run as a business and not as a community.  They are also charging artists and charging big platform fees.  Others are not so open to new artists and run more like a traditional art gallery.  We also have a lot of censorship and bans because the administrators of the platform feel like it and this is done without reason.  We see it is the worse combination possible, a dictatorship and a corporation.  Unique One is the purist response that a pure community-run platform can succeed.

Unique.One aspires to be a truly decentralized digital art marketplace that supports Artists instead of profiting off them.  We are non-profit seeking and have a net-zero fee policy.  We believe in supporting Artists and do not charge Artists for creating work.

The ultimate objective for Unique.One is to create a vibrant true decentralized marketplace independently operated by the Digital Art community which will offer new and professional Artists a place to socialize and push their creativity to the limits in a fair and level playing field.

Unique will be governed by a DAO for true decentralization.  In the first phase, we will gather community votes via a snapshot.  Right now, we have the ratification of the Unique One DAO Governance Proposal.  All token holders will be able to vote at governance.unique.one

Gold Rocket | Satoshi Club:

Indeed, this market just needs something like that!

D| Satoshi Club:

👍 Yeah, as I have heard, fees on the open sea for example are insane, artists get there just a small amount from their sells

Unique G: Will never DM first:

The open sea is more of an aggregator.  We are more of a marketplace for example like Raible.  The difference is that they are corporate and backed by VC and they charge heavy fees.  This fee is kept by their team.

Gold Rocket | Satoshi Club:

@un1qu Can I assume that you are also an artist?😉

D| Satoshi Club:

Got it. I just never bought anything on the open sea, yet. so it’s new info to me.

Unique G: Will never DM first:

Unique One does not charge artists.  We also have a net-zero fee.  Let me explain what that means.  When a buyer buys a digital art NFT, they are charged a 1% platform fee.  Now this fee is collected and goes towards repurchasing $rare tokens from the market.  And these tokens are redistributed back to circulating supply token holders

Unique G: Will never DM first:

ZERO.

Gold Rocket | Satoshi Club:

Sounds good👍

Unique G: Will never DM first:

So the next question is how we can achieve this?  It is simple, there is an allocation in the token model for the development and for the DAO governance.  So no one needs to take any profit.  The smart contract interaction fees is paid by the users to the network because they provide the service.  For a company to charge for this is ridiculous and unfair.

The other major problem is with the reward model.  For example on Raible, they reward based on the value of the transaction.  So this means popular artists will earn most of the tokens.  So they have a big problem with wash trading.

So their response is to ban a lot of people and deny airdrops to many parties who may be innocent.  This is amazingly unacceptable for us.  We are not saying anything bad but there is definitely space for improvement.

Gold Rocket | Satoshi Club:

I understand. We just have a question from the community on this topic.👍 If you want, we can start with this question.

Unique G: Will never DM first:

Sure.

Preselected questions about the Unique.One project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @yellowchamp

With your “Artist No-Fee policy” which stated that you don’t charge creators fees. Artists get full price for their work.I’m a little bit confused with this statement, can you explain it more? Why you are not charging creators fees? Do you have any criteria for giving a price with your Artist or it is fixed already? What kind of Artist are you recommending to join your platform?

Unique G: Will never DM first:

Traditionally, NFT platforms will charge the creator a fee for creating an NFT token.  Unique One does not charge this fee.  So there is no additional cost other than that for the interaction with the smart contract.

The other charge is when the artist sells.  On other platforms, they can charge both the buyer and seller 3.5% for example.  This means the company collects 7% in total.

Here at Unique One, we don’t charge artists for selling.  We only charge 1% platform fees for the buyer.  And as I explained earlier, this 1% goes back to the token holders.

Gold Rocket | Satoshi Club:

It’s very smart!👍 Thanks for the answer!

Unique G: Will never DM first:

As for our artwork policy, we accept all kinds of digital art.  The only thing that we do not tolerate is copying and selling other people’s work.  This is theft!  We have clearly detailed in our terms for such violations.

I think people in crypto have to understand that the reason they lose money or do not get full value is that all the value is taken by someone else.

Gold Rocket | Satoshi Club:

Strongly agree about copyright

Unique G: Will never DM first:

We want to prove that blockchain is made for disintermediation and not a tool for intermediaries to use to make money.

D| Satoshi Club:

Do you have a mechanism, how to check that it’s a copy work and not the original one?

Gold Rocket | Satoshi Club:

However, money is also important. 😊

Unique G: Will never DM first:

At the moment it is complaints based.  We will depend on the community to keep the platform in order.  This way we can keep censorship down to a minimum.  Other platforms also ban projects doing airdrops for their community.  It is extremely dangerous to play God in a decentralized world.

This is the problem.  The community wants to realize value but when the projects are greedy.  The community gets burned.

Gold Rocket | Satoshi Club:

You noticed it perfectly! Thanks for the answer! Everything is clear to me. The next question?

Unique G: Will never DM first:

Yes

Gold Rocket | Satoshi Club:

Q2 from Telegram user @Highpee

Unique.One is a permissionless decentralized NFT exchange. Of recent, Defi projects have decided to become open and permissionless in order to gain trust. However, going open and permissionless have its own risk as your codes are open and your project can be easily cloned. Also, some cloned or fork projects have also been found to perform better than the original project. How do you intend to deal with this kind of situation in order to maintain your originality and competitiveness? Are you a clone of a previous project?

Not an easy question

Unique G: Will never DM first:

Sure.  For codes, when we refer to open source, it is often the smart contract portion that is open source.  We still have to create new code for the website and interface.  We studied the rarible code and used a large part of it with the exception of a few parts and made some changes to it.  There will be a difference between us and Rarible in the sense that all our codes will be fully open-sourced.  This is the principle we live by and we hide nothing.

In terms of competitiveness, there are many improvements we can make and we are looking into such as NFT fractionalization and integration with DeFi.  Our policy here is to work with everyone and not do everything ourselves.  After all, we are a community project and have no profit agenda.

Gold Rocket | Satoshi Club:

Btw is your team anonymous or are you, public persons? how many people are on the team?

D| Satoshi Club:

And here also we have to ask our favorite question about the audit.😄 do you plan some audits?

Unique G: Will never DM first:

It is worth noting that Unique One despite being a young low cap project, will be sponsoring ETH Denver 2021 VR Art Gallery.  Super-rarre will be displaying their works there.   It is a purely digital event that lasts 24 hours for 7 days and free to the public to join.  It starts on 5th Feb 2021 and we hope everyone can join in.

Yes for the audit, we are in progress and hope to have the audit results published before our main-net launch on 28th December.  We choose this date to launch the main-net because it coincides with the Comiket in Japan which is the major anime and manga event in Japan but it will be done virtually this year.  We have very close links with Japan and Japanese projects.

D| Satoshi Club:

This is great!

Unique G: Will never DM first:

I really encourage everyone to look at our mining program and liquidity provider programs.  We have transaction mining and also volume mining.  Basically, we want to be sure not only whales can earn the tokens. In total, 60% of the tokens of the project can be earned.  And the community will own this project in its entirety.

This is our token distribution

Dev Funds – 20%

DAO Allocation – 20%

Creation Mining – 10%

Transaction Mining – 10%

Volume Mining – 10%

Contest Rewards – 10%

LP Mining – 10%

Bounties – 5%

Airdrop – 5%

Our long-term plan is to create an ecosystem of marketplaces and obviously, the $rare token holders will have some benefit when these sister projects are launched.  We are also keeping an eye on the Polkadot/Kusama ecosystem and impressed by some developments by Unique Network (no relations).

D| Satoshi Club:

Thank you! @GoldRocket27 do you have any additional questions?👀

Gold Rocket | Satoshi Club:

I wanted to clarify about the team that helps create this project😊 Thanks for this. This is really impressive.

Unique G: Will never DM first:

If you guys know anyone, even if they are traditional artists.  We have community members ready to guide them and onboard them.  We believe there is only a fraction of a possible number of artists that is on NFT platforms.

Other platforms will treat you are customers.  Here we treat everyone as members of the community, as it should be.

We are an anonymous team and choose to be for the reason that we want to move this to a DAO governance.  Once the DAO governance takes over, then the community will decide what to do when the regulations eventually arrive for DAOs.  We call ourselves the founding team and our objective is to pass the governance to the community asap.  In terms of expertise, we have veterans with more than 20 years of experience in all the key areas such as marketing, business development, software development, public relations, management, etc.  But again, the objective is to pass this on to the community.

Gold Rocket | Satoshi Club:

👏👏👏 great! Can we proceed to the next question?

Unique G: Will never DM first:

We understand choosing to be anonymous also means that people will scrutinize us.  This is why we did not go public until we have a test net.  And this is why we only list when we are sure we can deploy on main-net.  We want people to judge us by the product and experience.  Come and talk to us. Sure.

Gold Rocket | Satoshi Club:

Q3 from Telegram user @Pannicota

Hi sir

Unique.One provides for users an ability to vote on governance decisions because it’s built on DAO structures right? But It seems that many DAO project’s voting systems are being Heavily manipulated by some Large Tokens Holders (Called Whales), I said that because big holders = big powers in voting, and tokens are easy to get through exchanges. And it brings bad DAO Voting behaviors, unfair for many small investors, small holders so how will Unique.One provides the fairness / the trusted, the balanced in the DAO Voting process on Unique.One projects?

Unique G: Will never DM first:

This is a great question.  Yes, absolutely we recognize this as a major problem.  We have released our first DAO Governance Proposal for community voting at governance.unique.one.  This is so that the project is from day 1 a decision by the community.  In this phase, we are using Snapshot which is an off-chain voting mechanism and yes it uses the number of tokens in an account to count as votes. This is why we have a phase 2 governance.. let me explain.

D| Satoshi Club:

Sure!

Unique G: Will never DM first:

In phase 2, we will adopt a DAO system but it is important for everyone to understand that the DAO is just a mechanism to vote and ratify a decision.  The actual governance structure needs to be built on top of this.  We have a proposal for the committee which are separated by functions and also by governance or management.  We will announce when we are ready but we expect our proposal to be the first in the world.  As for the voting power, we have a solution for this.  Being an NFT platform, we can easily deploy a system where there will be requirements to participate in voting for certain matters (this means the issue can be categorized and various types of voting used).  So for those who qualify, we can issue the person an NFT.  This NFT can be deposited into a contract that produces another ERC20 that we will use for voting.  So this means one person one vote instead of one token one vote. I hope that answers your question.

Gold Rocket | Satoshi Club:

All clear! Thank you!👍 next question?

Unique G: Will never DM first:

In terms of languages, we have our Chinese site up at cn.unique.one and we should have our Japanese site up soon as well.  We will gradually expand to all languages. Sorry I was taking advantage of the delay.  Yes, please.

D| Satoshi Club:

Interesting system…

Unique G: Will never DM first:

The technology is very flexible but it is only one part of it.  At the end of the day, we are humans and we need a human system as well.

Gold Rocket | Satoshi Club:

You can take your time if you want! we want you to feel comfortable!😊

Unique G: Will never DM first:

Hahaha thanks. We want people to come to use the platform and own the platform and I hope many of you here will come join us.

Gold Rocket | Satoshi Club:

Please share useful links to the project with our community!

Unique G: Will never DM first:

Upcoming Events

18 Dec to 21 Dec – Governance DAO Proposal Ratification on a snapshot

21 Dec – Unique.one Chinese AMA in Biki WeChat

22 Dec – Biki Exchange and Uniswap Listing + Biki CEO AMA in Unique.one telegram + Biki Grid Trading Reward Programme

28 Dec – Comiket Air + Mainnet Launch

Website : unique.one

Chinese website : http://cn.unique.one

Our Testnet is Live!

http://testnet.unique.one

(We recommend Metamask on desktop at the moment and remember to select rinkeby network)

Governance Voting

Ratification of Governance DAO Proposal https://governance.unique.one/#/uniqueone.eth/proposal/QmcTuiju5kwREZ6DzM5sBgcbrzDVU6C2txLqZugcsLcgi5

Articles about Unique.one

Introducing Unique One https://uniqueone.medium.com/introducing-unique-one-6cfe19450e3c

Testnet Is Live https://uniqueone.medium.com/unique-one-testnet-is-live-31ac7c567dc3

DAO Governance Proposal https://uniqueone.medium.com/unique-one-dao-proposal-for-governance-structure-bdd7db0ea6bc

CEX and DEX Listing https://uniqueone.medium.com/unique-one-rare-listings-cex-and-dex-392dcfa2482d

Gold Rocket | Satoshi Club:

Wow! Thank you! 👍Then the next question can be asked!😉

Unique G: Will never DM first:

There are contests as well.  The Biki free $RARE sign up is almost over I think.  But we have a meme contest coming up for all you creative degens.  Biki exchange will have Grid Trading Promo as well.  And we will have Uniswap LP rewards and so on.  It’s going to be exciting!

Gold Rocket | Satoshi Club:

Amazing🚀

Q4 from Telegram user @lzamg

Most of the new crypto projects start the launch of their tokens with a public or private pre-sale and even airdrops. So I’m curious to know: why did you decide to not do any of this and directly put the $RARE tokens on Uniswap for the people to purchase? Is this a strategy to arise trust and security within the users?

Unique G: Will never DM first:

This is an excellent question.  We follow a method called Fair Launch.  This means even team members have to buy the tokens as everyone else in the private sale.  The main advantage of this system is that it prevents dumps in the market on the listing.  We have learned a lot from the 2017 ICO craze and most of the team members and advisors who obtained their tokens free will dump on the market.  This means investors will lose their money and there is no end to the price drop.  Personally, I have invested in a few of such projects and it is unpleasant.  The other key to this is actually the market cap.  We only raise what we need to get the platform developed and get off the ground running.  There are no extras for us.  Other projects will try to raise as much as possible and this is greedy in our opinion.  Early adopters need to be rewarded and we have to respect this basic law in crypto.

D| Satoshi Club:

Can you tell us, how much liquidity will you add to the Uni pool? and at what price people can buy $RARE?

Unique G: Will never DM first:

We want to grow from 20 to 200 and from 200 to 2,000.. and from 2,000 to 20,000.. and the only way this is going to happen is if everyone realizes value from the platform.  As you can see there are many dead projects in crypto and we believe is it simply bad karma.  They took advantage of their community and this project will never succeed.

| Satoshi Club:

👍 Yes, this is true.

Unique G: Will never DM first:

We are listing on Biki Exchange and Uniswap.  We aim for a liquidity of at least USD10k gradually building up in the first few days.  The reason is that the community needs to come in and provide the liquidity.  The method of adding liquidity on Biki Exchange is different and actually very interesting.  Grid Trading is actually an automated trading tool and if enough users provide liquidity, you have a very active market.  So of course there are risks but we have already allocated tokens to Biki to give as reward.  So we think it is a good place to try to earn some tokens as you will be essentially getting an airdrop regardless of trading performance. At first, we were only going to list on Uniswap but then we realize not everyone can use DEX and also not everyone wants to pay the high fees for a trade.  Biki Exchange has been very accomodating to us to our surprise and they have 3 million traders and big exposure to China.  This is why we created the Chinese website, it is to cater to this community.  This was not in our original plan.  Additionally, we will also launch a balancer pool.  Our philosophy is to give as many options to the community as possible.

Gold Rocket | Satoshi Club:

This is really very tempting.

D| Satoshi Club:

Yes, I actually think it’s a very wise decision to going to the list on CEX and DEX on the same date.

Unique G: Will never DM first:

We expect Grid Trading to have a positive impact on the price (not financial advice).  The reason is other traders on the platform will need to buy rare in order to join the Grid Trading contest.  It also serves as a liquidity lock.  We are hoping for good results but we are in the same position as everyone when it comes to prediction.

D| Satoshi Club:

Thank you for the detailed answers! ready for the next question?

Unique G: Will never DM first:

We are keeping an eye out for the developments on the Polkadot ecosystem and especially Polkaswap which will be a CEX and DEX aggregator.  There is no way to get Polkaswap except through the sora and Val farming game at sora.farm.  That’s a tip, but really, we are ready to move there from Uniswap especially if it has greater liquidity and rewards. Yes, please.

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Jonahapagu

Unique.One will hold weekly artist contests providing Artists with an opportunity to win $RARE… Can you explain more about this contest how do artists qualify and partake in this contest, and what do they have to do to win… you have reserved 1 million tokens for this, will the contest stop after the 1 million tokens have been exhausted.

Unique G: Will never DM first:

I am glad you asked this question.  The artist contest will start in early Jan 2021 and the format will be decided by the community.  The topics are endless, we can have character design or landscape, or photo manipulation, or gif.  We can also make it a theme like Satoshi or CZ.  We can have a collaboration for example with Satoshi Club where we can have a Serg contest.  Maybe who makes Serg the most handsome wins.  LOL.  More importantly, the reason we want to hold this is so that the qualitative aspect of the art is recognized and rewarded.  We want new artists to be known, not only the well-established ones.  And when they become more famous, we hope they can enhance their ability to earn.

Gold Rocket | Satoshi Club:

Let’s ask Serge😂

Unique G: Will never DM first:

The token allocation is over 5 years and we believe that we will know whether we succeed or fail over 5 years period.  But there is no need to worry after 5 years because the technology would have improved and as long as the DAO decides, the project can adapt to the new conditions and continue to grow.  I want to emphasize that the value of digital art is more than what many can imagine.  We are looking at a market of tens of billions and where existing platforms especially photography or stock photos can charge as much as 40% for sales.  If we succeed as a community and platform, there will be tremendous value for everyone.

Unique G: Will never DM first:

He will say he is already too handsome

D| Satoshi Club:

HaHaHa.

Gold Rocket | Satoshi Club:

I think so too😁

D| Satoshi Club:

Ok, so who will be picking the winners of the contests? community?

Unique G: Will never DM first:

Yes, the voting will be via snapshot. A platform is just a tool and the team is just a facilitator, the community owns Unique One and they decide.

D| Satoshi Club:

Thanks for the answer! 👍 ready for the last question, from part 1?

Unique G: Will never DM first:

Yes, please.

D| Satoshi Club:

Q6 from Telegram user @Garrinepotter

Farming tokens in liquidity pools is a common and boring business. You create an NFT marketplace where art will be presented as a commodity. Will it be possible to farm on your platform using NFT? For example, for posting quality content. Is it possible to incentivize artists with your tokens? By the way, Satoshi Club we need more people there @unique_one_rare let’s join 💪

Unique G: Will never DM first:

Great question!  The idea of farming NFT is excellent and it is something we foresee doing.  We may also do NFT games but our idea is that it should be a platform so that others can easily do it.  There are some NFT games that are not really open source.  Most of the code is actually closed.  And yes, we are talking to two NFT fractionalization platforms.  As you know the potential is endless for this.  It can be used to fractionalize artwork but it can also be used to fractionalize bonds or insurance or other financial instruments.  We are at the very beginning of a large revolution.  If you guys have a startup idea, please come and talk to us.  We are all about community and collaboration. Thank you so much, guys. We really appreciate all your support.

D| Satoshi Club:

Thank you for such cool and informative answers! 👍

Gold Rocket | Satoshi Club:

Thanks for your great answers! Are you ready for the storm of questions?😁

Unique G: Will never DM first:

I just want to emphasize that you do not have to be a developer to start a project, please come and talk to us.  We are also talking to people who are deep into Music NFTs and DeFi. We always believe that relationships come first and eventually we will be able to work together. Yes. I have seen the craziness.. hit me.

Gold Rocket | Satoshi Club:

You have to choose the best 10 questions and answer🚀

Unique G: Will never DM first:

Sure.

D| Satoshi Club:

Great! Satoshi club if you have some good ideas, go and share them😊

Unique G: Will never DM first:

Absolutely. Satoshi Club is VIP

Gold Rocket | Satoshi Club:

@Cool_as_Ice open live chat!🚀 Thanks for your kind words❤️

D| Satoshi Club:

let’s go!🚀

PART 2.Questions about the Unique.one 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 Unique.one DeFi project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @Cryptoyese

As someone that has one time visiting Japan. I understand the richness of art in that region. (Say for instance the Aichi Triennale). But with the covid19 pandemic still very much at large, more people chose to spend their time online.. and this has really had a debilitating effect on offline artists.

I’d love to know if you have plans To reach out to the struggling artists on the street of Japan 🇯🇵 that has little or no understanding about NFT’s, possibly never even heard of them?

Unique G: Will never DM first:

Yes, it is.

Q – 2 from a telegram user @Jonahapagu

Unique.One will be a place where new and professional Artists can push their creativity to the limits on a fair and level playing field..so can anyone with almost no skills be able to create NFT’s on your platform or will this be limited to only professional and experienced people…in other words what level and type of skills do I need to be able to use Unique.one platform to create NFT’s.

Unique G: Will never DM first:

Unique One does have a verified artist program and we believe that a decentralized platform should minimize censorship. Therefore, anyone can participate in our platform. And we do not prevent people from giving airdrops or using the platform creatively. Like we said earlier, we are extremely against copyright violation.

Q – 3 from a telegram user @Spott

No public sales, no ICOs or IEOs for UNIQUE ONE project,
What is the concept behind this?

Unique G: Will never DM first:

It is called a fair launch. Meaning everyone has to buy the tokens including the founding team. We have been invested in other projects that use this principle. Although there are varying understanding of fair launch, we believe this is a good approach.

Q – 4 from a telegram user @zaferce

Digital collectibles are developing as a large amount of funding flow to the digital art market, but the digital art trend in the industry is still not fully developed. How does UniqueOne prepare for the Non-Fungible Tokens (NFT) market and how does it contribute to this trend?

Unique G: Will never DM first:

The art and blockchain trend actually started quite early with the track and trace of physical artwork on the blockchain. In the beginning, it doesn’t involve NFT but it’s just posting the hash to the blockchain. Later, with the Cryptokitties craze, NFT gamification moved the trend one step up. The current trend for NFT and Digital Art is still rather new but of course, the explosion came when a token model was applied. But the problem is that all of these platforms belong to for-profit companies and backed by VC who obviously want to profit. We are here to challenge that.

Q – 5 from a telegram user @highpee

I must congratulate 🎉🎉🎉 your team and I wish your unique project a success🥰🥰
You have planned that all your liquidity providers will get a share of 💰💰💰 1 million $RARE tokens for providing liquidity on Uniswap. What LP pairing will be available? How are LP provider’s reward determined? Are there special rewards for providing liquidity for a longer period in your pool? Also, there is no information with regards to liquidity lock duration and whether liquidity can be withdrawn anytime?

Unique G: Will never DM first:

The trading pair on Uniswap will be RARE/ETH and the trading pair on Biki will be RARE/USDT. This gives our community the option to choose. We haven’t decided on a balancer but it should be RARE/USDT. This will only be launched once the trading is stabilized.

Q – 6 from a telegram user @kikirush

Why is the team behind Unique One anonymous, don’t you think it can affect investors’ decisions? Do you plan to disclose the identity of the team in the future?

Unique G: Will never DM first:

The team is anonymous because we do not want personalities to dictate where the project is going to go. Actually, the choice of being anonymous is really up to the individual. For example, our committee in the future will recognize members by telegram handle or their social media such as Twitter. If this person wishes to be known, it is completely up to them. We hope that the DAO will be handled by capable people who can take it to the next level, and it is possible this person might be someone well known in the crypto world.

Q – 7 from a telegram user @KASG95

Really, what other great use could NFT art have apart from the use of a collection, which will allow its creators to obtain rights and rewards for royalties? and how much would be the% of royalties?

Unique G: Will never DM first:

So this is an important question because a lot of people do not understand why Digital Art NFT has taken off. So we need to compare to artists on let’s say Deviant Art who is posting art for free and sometimes they hope to get commission work. If they do commission work, then the copyright belongs to the person who hired them. But here in the Digital Art NFT world, the copyright belongs to the artist. So this is why they can collect royalties on subsequent sales of the artwork. Now there are no rules to the number of royalties that the artist can charge. But it is obvious that if the artwork contains royalty of let’s say 30%, then there will not be many buyers because when they resell, they get 30% less. Unique One allows a range of settings but generally, a royalty of below 10% will be better for the resale market.

Q – 8 from a telegram @bitgraile

They say 2021 is going to be a year for NFTs. With lots of NFT platforms sprouting everywhere, which platform do you consider as your biggest competitor and why? Thank you.

Unique G: Will never DM first:

Yes, we believe so too. The space is new enough that we don’t consider any other platform to be a competition. The reason is that we have a different model. Most if not all of the platform is owned by companies and backed by VCs. Their objective is profit. Our objective is to create a community platform. So we don’t have a competitor in this category. And over the next few rollouts, we will be a truly unique platform. I encourage you to try all the platforms and come to our platform and see the difference. Your voice will be heard by people who genuinely want to build for the community and not some poor customer service.

Q – 9 from a telegram user @Alika061

where was the $RARE token listed on the exchange market by the #UniqueOne team and how did the marketing team create mass adopters for the number of tokens to increase? then has the $RARE token price been registered with Coingecko where can I buy the $RARE token?

Unique G: Will never DM first:

We will be listed on Biki a CEX and Uniswap a DEX and we will be registered on Coingecko after launch and I have to say this is nothing special because Coingecko is a fair platform to all. The reason we are waiting is so that we can provide all the information in one form to send to Coingecko so there will not be mistakes or unnecessary updates

Q -10 from a telegram user @notulu

“Unique.one is a non-profit seeking and supports artists and work with zero fees”. So my question is How does unique.one generate profit and what is the main source of income?

Unique G: Will never DM first:

The token model provides token allocation for the DAO and these tokens will be worth something and it will be the decision of the DAO on how to spend this. The entire idea is that the platform can sustain itself up to year 5 using these funds. We charge a minimal 1% fee for buyers and this platform fee is used to buy back $RARE (increasing the price) and redistributed to all the circulating supply token holders. After year 5, the DAO can decide to either increase or add fees or adopt other revenue models.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Unique.one 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: Unique.one

Telegram group  |  Telegram Chanel  |  Tweeter  |  Website  |  Medium  |  Facebook | Instagram | Youtube

2020 has brought us many new projects worth exploring and Satoshi Club is helping you to do that. And today we would like to tell you about the AMA session with our friends from Rizen Coin. The AMA took place on December 22 and our guests were Rizen Coin and Dani Rizen.

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

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Rizen Coin! @Rizencoin @RichardJoe7 @DaniRizen welcome to Satoshi Club:grinning:

D. | Satoshi Club: @Rizencoin @RichardJoe7 @DaniRizen what’s up guys!

Rizen Coin: Hi, thanks for giving the platform to represent our Rizen Project. I am fine. What’s up everyone. 🔥

D. | Satoshi Club: welcome! good to see you here 😊

Dani Rizen: Hello guys

D. | Satoshi Club: ready to start our AMA?

Mary | Satoshi Club: Can you introduce yourself :grinning: and tell us how did you start with Rizen Coin?)

Rizen Coin: I am a core contributor of Rizen coin project. Currently busy with project development. We have come with a unique mechanism which balance the supply and price. Also, our unique product is Rizen swap.

Next please :fire::fire:

Mary | Satoshi Club: Got it) as i see you started Rizen Coin project in the 1 quarter of 2020, right?)

Rizen Coin: Yes.

Mary | Satoshi Club: Where did the name Rizen come from?

Rizen Coin: Rizen name came from verb Rise. We used this word to represent the word pump.

Mary | Satoshi Club: And after one year of development which features do you gave already working?:grinning: I see, that you have Mobile Wallet, Staking, Farming, Rizen Swap, Borrow, Insurance 😀

Rizen Coin: At the very beginning we have developed the staking features. And then farming. Currently we are developing Rizen Swap.

Our Achievements within few weeks
Staking Live
Token Contract Audited
New Website
Probit confirmed
Hotbit listed
(RZN/USDT , RZN/ETH)
Whitepaper releases
New Dashboard
Farming Live (contract audited)
Farming Tutorial
Uniswap listed
Liquidity Locked ( 6 months)
Token Burned
Live Price Tool
Livecoinwatch
Coingecko
Coinmarketcap
More Marketing coming
Rizen swap coming soon
Check roadmap for more details.

Rizen swap:( hints)
Low sllipage
nearly 0% fee
lifetime reward for rzn holders.
Decentralized Governance.

Our local groups:
https://t.me/rizencoin_vn
https://t.me/rizencoinfrance

Mary | Satoshi Club: Nice achievements! Just few weeks!

D. | Satoshi Club: Rizen swap is already live? or in the development?

Mary | Satoshi Club: Did you already tested it? I mean Rizen Swap?)

Rizen Coin: Not yet. We have come up with the idea nearly zero fee for swap. So. That’s a huge task develop the platform. But yes, we will develop existing uniswap repo.

Mary | Satoshi Club: How is your liquidity locked?) Did you use third party services?)

Dani Rizen: https://v2.unicrypt.network/pair/0xE636601C64C27Cf71e7EE03741bff84Bff9465e0 Locked prove by unicrypt:+1:

Rizen Coin: Yes. We used unicrypt

Mary | Satoshi Club: Did you plan testing phases? Who will be able to participate in testing?)

Rizen Coin: Yes. With our community. Next year we will release the test version.

Q1 from Telegram user @sirdefi

In your series of articles “Comparing RIZEN with other DeFi Projects” in Part 1 you mention that the $RZN token will have a low supply of 10,000, however in the next article, Part 2, you mention that it will be 5000. What is the final supply? Or will the other 5000 tokens be released later?

Mary | Satoshi Club:

Hm, i see 4159 RZN

Rizen Coin: Actually we started with 10 k supply. But community requested to reduce it. Then we decided to make it 5k. And then we again burned 850 token. So, now the supply is 4159. There are also 1% token burn in every reward withdrawal.

Mary | Satoshi Club: 5000 – 850 = 4150:joy: We still have 9 tokens)

Rizen Coin: There is also 1% weekly reward which can only be minted by rizen holder. So, we tested it one time. That’s why there is 10 more. But currently we disabled it.

Dani Rizen:

Mary | Satoshi Club: Did you have community voting? How was it organized?)

Rizen Coin: Yes. By voting.

D. | Satoshi Club: why the community decided reduce the total supply?

Rizen Coin: They like to have low supply. :rocket:

Mary | Satoshi Club: Yes, it’s very popular now)

Q2 from Telegram user @Gutike95

There are many projects that seek to mitigate the volatility of the tokens, and they achieve it in multiple ways, but none of them have been able to add to it, achieve a Swap with rates of almost 0, how does Rizen manage to provide all these benefits to users without any inconvenience?

Rizen Coin: Nice question :+1:

Yes. I also afraid of the word volatility. It’s really hard to avoid volatility in cryptocurrency. But we can apply various method or mechanism to control it. Rizen has a unique mechanism to control it in a range.
For example:
We have a staking feature which lock your token forever and give you lifetime passive reward from every transaction. So, the locked token try to increase the value of rzn token.
On the other hand, rzn max supply is 5k. There is also 1% Rzn inflation weekly for rizen holders which also increase the supply but limited to 5k.
More details have provided in our white paper.

Mary | Satoshi Club: Is this staking feature already live?

Rizen Coin: Yes. Almost 600 token has locked

Mary | Satoshi Club: But what about swap? Will it help to reduce rates to 0?

Rizen Coin: Swap is different. We will explain later in our rizen swap white paper. It’s very complex to explain here.

D. | Satoshi Club: so you will have a separate white paper, which would be discribe swap mechanics?:blush:

Rizen Coin: Yes. It’s on the way. And also it will be audited.

Q3 from Telegram user @PaulMonte20

In a recent article, when asked “how does Rizen Coin deal with price volatility?”, you replied stating that the Rizen devs implemented algorithms capable of triggering & accommodating proper supply inflation & deflation, which in turn are tied to a target price. This mechanism is supposed to mitigate the effects of price dumps & pumps. I find this statement very generic and, honestly, a bit ambiguous. Could you please go into more detail explaining how this ingrained price stability system works, what are its components and if we can draw any parallels/differences to other existing projects that pivot on target price stability as a core feature (e.g. Ampleforth or others)?

Rizen Coin: There are many projects with rebase system mechanism. AMPl is a great example. But if you look clearly it can be manipulated. Since, the rebase target the price. So, any whale can do this to manipulate the price.
Volatility of price depends on demand and supply. So. Here rizen mechanism with demand and supply.

We have a more detailed article on this topic in our white paper

Mary | Satoshi Club: But can you name us a project with similar mechanism or yours are unique and never been used before?

Rizen Coin: I haven’t seen any project before like us. But yes, there will be some similarities.

Mary | Satoshi Club: Whith which project?

Dani Rizen: No One Defi Project gives You Lifetime Rewards Without Rizencoin for stake:fire:

Rizen Coin: See, there are lots of projects out there. Most of them based on deflationary/ inflationary or rebase mechanism.
Here we are both deflationary and inflationary but with Max supply with 5k rzn.

Q4 from Telegram user @Jonahapagu

Unstaking on your Platform is Charged 100% fee which means if users Unstake their assets they are left with only their rewards as all their Staked assets will be charged as Fees this will only make sense if the rewards are attractive enough to ensure users continue to stake their assets… will there ever be a point when this fee will be reduced and how can you guarantee new users that your rewards system is stable and attractive enough that the thought of losing all their staked assets while unstaking them does not scare them away…

Rizen Coin: First of all, staking will give stakers 1% tax which comes from every transactions. There is no such function to reduce the tax in our smart contract. So, 1% tax is permanent.
To generate more rewards for stakers we need more trading activity and products. For example:
once we have our swap platform live. Stakers will get juicy rewards from every transactions. So, the more products, the more usecase and rewards.

Mary | Satoshi Club: If all coins will be locked forever?)

Rizen Coin: There is always coins will be in circulation. The more time will pass, the harder it will be to stake. So, the early stakers will have always good profit. Also, don’t forget that we have 1% inflation weekly based on your holding amount in your wallet. This will help to maintain the supply.

Q5 from Telegram user @yellowchamp

One of the best feature of Rizen Coin is having an insurance serve as the best way to cover risk in your platform. So can you tell us more about the insurance that your platform offered? What are the benefits that we can get with this insurance in your platform? What case or risk covered when availing an insurance? How trusted is this insurance? Thank you

Rizen Coin: Honestly, we have it in our plan. But still didn’t dig it up in details. Our focus is in Rizen swap now.

Mary | Satoshi Club: When you plan to implement it?

Rizen Coin: In the last quarter of the next year. Step by step we will proceed. Yfdai is a great example I think. :rocket:

D. | Satoshi Club: by the way guys, i see you have a github icon on your site but seems it’s not working. i can get to the github through the link

Rizen Coin: Yes. You are right. To avoid cloning of our project , we haven’t published any repo there in live. But we have another Github account where you will get some info. We need to update our github link from every source.

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

Rizen Coin: https://rizentoken.github.io/rizendashboard/dashboard/index.html

Q6 from Telegram user @KeymerS

You say that if a failure occurs in the ecosystem the only person responsible would be Ethereum, but is that really true? So why many other projects that are part of eth suffer from multiple problems that are continuously solved? Or already all Rizen algorithms are fully audited and therefore it is IMPOSSIBLE for them to fail?

Rizen Coin: Yes. We are fully audited. But as you know we can’t give guarantee that there won’t be any issue in future. That’s why it is important to take your own risk before join in any project.

Mary | Satoshi Club: I think author reffer to this)

No one. Because security is provided by Ethereum smart contract. So, if Ethreum Blockchain die, everything die. Buying RZN is entirely at your own risk and Rizen Coin is never liable for any losses that may occur when using RZN and our user interface. Please never supply assets you can’t afford to lose and consider that nothing on our site, RZN or any other communication channels covers investment advice. Right?

Rizen Coin: Yes. I hate bugs though.

Mary | Satoshi Club: I want to ask, if you’re planning to give insurance services may be you can give insurance for this accident?) In the future?

Rizen Coin: Ha ha. Will see it if possible. :heart_eyes:

Mary | Satoshi Club: You were audited by TechRate and they didn’t find nothing) according to your audit report) Is it really possible?)

Rizen Coin: No, they found some issue in our previous contract. And then we made correction. And then again did the audit.

Mary | Satoshi Club: Oh:joy: now i see how) thank you :+1:

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Spott

” Uniswap ” is a better competitor among many swaps,
What features makes ” RIZEN-swap ” better compared to all other swaps like UNISwap ?

Rizen Coin: Uniswap is the best dex and very popular. I even like it most. But if you see currently we are facing some issues there. So, our plan is to solve these. Some hints given below.
Rizen swap:( hints)
Low sllipage
nearly 0% fee
lifetime reward for rzn holders.
Decentralized Governance.

Q2 from Telegram user @Jonahapagu

RIZEN is Building a platform that will yield lifetime passive reward to stakers generated from fee of every transaction that happen in the network…and this is implemented by a combination of proof of liquidity, proof of transaction and proof of stake… how do these three Consensus algorithms combine in the RIZEN ecosystem, at what points are they individually implemented within your platform

Rizen Coin: Actually we are following these consensus mechanism in a combined way.
POT= proof of transactions represent that rewards coming from transactions.
POL= proof liquidity represent that we have locked liquidity and extra provided liquidity in uniswap.
POS= proof of stake represent that we have stakers who wants to support the platform and want to increase the token value in exchange of getting lifetime passive reward from every transactions.

Q3 from Telegram user @paul_adebayo

Do you do buy back or token burn to increase the value and drive scarcity. If not, do you have plans for such in the future.

Rizen Coin: To increase the value of token I hate the way of central control or hand of team to buy back or burn. I like decentralized nature. So, in our system we have build in burn and inflationa function which maintain the supply to increase the coin value.

Q4 from Telegram user @Mora110

Is there specific time and minimum amount to withdraw my staking reward?thanks

Rizen Coin: No, there is no specific time and also no limitation to withdraw reward. Only important things you need to know that if you unstake all of your staked tokens will be burned. :innocent:

Q5 from Telegram user @Nickkiii

Any directions or guidelines on how to Participate in the Rizen Farming program?

Rizen Coin: Yes, sure. We have a video tutorial on this. Also, you can ask any help from our community in our rizen group. https://rizencoin.com/dashboard/farmtutorial.mp4

Q6 from Telegram user @KhaleesiTheCryptoLady

Where is Rizen coin listed, where Could I buy? Isn’t yet too late to participate the staking program? Can I still participate?

Rizen Coin: Rizen coin listed on Uniswap and Hotbit exchange. You can still participate in staking. We are still a beginner project.

Q7 from Telegram user @Korryl

Usually stake and mining project have big weakness and that are a problem of huge price volatility and farming is not sustainable since all farmer only will sell. How is rizen coin manage about this problem?

Rizen Coin: Nice question. Farming is really a unique idea to distribute tokens in a decentralized way. That’s why I like farming. Yes, I agree with you that most of the farmers provide liquidity and earn farming rewards and sell it. But it dumps the price for while. But I believe that if there is demand for token, the price will grow up again and also it gives chances to others who wants to get entry in low price.

Q8 from Telegram user @ktziecee

Most of the projects in the ecosystems are currently closing and subsiding. Because if you see their vision and concepts of projects they have similar plans and lacked of support. What are Rizen Coins trying to solve in defi space which you think a real deal and will makes it shine in the market and among its competitors?

Rizen Coin: Awesome question. Yes, most of the projects are here to get quick money and then go away. Also, their concep is quite similar. But here we are unique with our own staking and supply mechanism. As experimental project we want to see how this mechanism works in a decentralized way in defi space. Yes, in defi space swap is very important which we want to make it with nearly zero fee.

Q9 from Telegram user @AmirJosh

Stakers lock token forever which a one way to reduce circulating supply. So staking RZN right now is not lucrative as the platform is not yet popular and the profit is not that huge. How will you entice holders to stake their tokens and loss it forever with a market like this?

Rizen Coin: Yes. Staking will lock your token forever. Our stakers getting reward from every transactions which is for lifetime.
There are a big picture behind it. If you see, already around 600 token staked which means some vale Locked forever and this will help to reduce dump and lower the circulation. And this will drive the price up always. So, it’s depends on your believe in the system if you are a long time supporter of this project.

Q10 from Telegram user @shair29

Is there any limits require to skate $Rizen if yes so what is their Min & Max limits with retrun % rate?

Rizen Coin: So, there is no limitation for staking. And returns of rate depends on how many transactions will happen.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Rizen Coin. 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:

Rizen CoinCommunity: https://t.me/coinrizen

PART 1. Introduction of Uniq project and community questions.

Hello, Satoshi clubbers and guests of this site. Today we have an AMA session with a crypto project that created a truly decentralized non-profit platform owned and managed by the Digital Arts community, bringing together Artists, Creators, and Collectors as One. There are no commissions for artists, but there are awards for publishing works. There are functions like Usage Mining – collectors and creators rewarded for activity by cryptocurrency. $RARE token is part of the Unique family and gives rights to HOLDERS to get special privileges such as :

• Ability to vote on governance decisions

• Ability to vote in contests

• Ability to mine $RARE as a liquidity provider

• Share of platform fees

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and D. | Satoshi Club – @Cool_as_Ice

The Representative of the project:

Unique G: Will never DM first – admin of the Uniq Telegram group.

Introduction of Unique.one project

Gold Rocket | Satoshi Club:

Good morning friends! Let’s start our AMA marathon!

D| Satoshi Club:

Hello, Satoshi club! our AMA session today with Unique.one! @un1qu hello and welcome!

Gold Rocket | Satoshi Club:

@un1qu We are glad to welcome you to Satoshi Club!👋

Unique G: Will never DM first:

Hi everyone.

I am really glad and honored to be here with Satoshi Club members.  I have been a follower of Satoshi Club for a while now and have seen the tremendous growth achieved by the admin.  Congratulations on having a wonderful community.  Here at Unique One, we are also a community-based project and I hope to explain more about this during this session.

D| Satoshi Club:

Thank you very much for your kind words! 😊

Gold Rocket | Satoshi Club:

Thanks for joining😊

Unique G: Will never DM first:

Thank you.

Gold Rocket | Satoshi Club:

First, tell a little about yourself😊

D| Satoshi Club:

Yes, let’s start with a brief intro 😊

Unique G: Will never DM first:

I am Unique G and I am the admin for our Telegram group.  We are a group of crypto purists and we have mainly been investors but also have been involved in crypto projects in this space for several years.  We say we are purists in the sense that we abhor any involvement of corporations in this space.  The ideal crypto project should belong to the community and not by a handful of people and certainly not profit-seeking corporations.

Gold Rocket | Satoshi Club:

And also we are very interested to learn more about your project😊 A very interesting course. this is my first time hearing about purists. but I really support it 😁

Unique G: Will never DM first:

Absolutely, let me explain why we embarked on this project. We saw that most of the NFT Art marketplaces are run as a business and not as a community.  They are also charging artists and charging big platform fees.  Others are not so open to new artists and run more like a traditional art gallery.  We also have a lot of censorship and bans because the administrators of the platform feel like it and this is done without reason.  We see it is the worse combination possible, a dictatorship and a corporation.  Unique One is the purist response that a pure community-run platform can succeed.

Unique.One aspires to be a truly decentralized digital art marketplace that supports Artists instead of profiting off them.  We are non-profit seeking and have a net-zero fee policy.  We believe in supporting Artists and do not charge Artists for creating work.

The ultimate objective for Unique.One is to create a vibrant true decentralized marketplace independently operated by the Digital Art community which will offer new and professional Artists a place to socialize and push their creativity to the limits in a fair and level playing field.

Unique will be governed by a DAO for true decentralization.  In the first phase, we will gather community votes via a snapshot.  Right now, we have the ratification of the Unique One DAO Governance Proposal.  All token holders will be able to vote at governance.unique.one

Gold Rocket | Satoshi Club:

Indeed, this market just needs something like that!

D| Satoshi Club:

👍 Yeah, as I have heard, fees on the open sea for example are insane, artists get there just a small amount from their sells

Unique G: Will never DM first:

The open sea is more of an aggregator.  We are more of a marketplace for example like Raible.  The difference is that they are corporate and backed by VC and they charge heavy fees.  This fee is kept by their team.

Gold Rocket | Satoshi Club:

@un1qu Can I assume that you are also an artist?😉

D| Satoshi Club:

Got it. I just never bought anything on the open sea, yet. so it’s new info to me.

Unique G: Will never DM first:

Unique One does not charge artists.  We also have a net-zero fee.  Let me explain what that means.  When a buyer buys a digital art NFT, they are charged a 1% platform fee.  Now this fee is collected and goes towards repurchasing $rare tokens from the market.  And these tokens are redistributed back to circulating supply token holders

Unique G: Will never DM first:

ZERO.

Gold Rocket | Satoshi Club:

Sounds good👍

Unique G: Will never DM first:

So the next question is how we can achieve this?  It is simple, there is an allocation in the token model for the development and for the DAO governance.  So no one needs to take any profit.  The smart contract interaction fees is paid by the users to the network because they provide the service.  For a company to charge for this is ridiculous and unfair.

The other major problem is with the reward model.  For example on Raible, they reward based on the value of the transaction.  So this means popular artists will earn most of the tokens.  So they have a big problem with wash trading.

So their response is to ban a lot of people and deny airdrops to many parties who may be innocent.  This is amazingly unacceptable for us.  We are not saying anything bad but there is definitely space for improvement.

Gold Rocket | Satoshi Club:

I understand. We just have a question from the community on this topic.👍 If you want, we can start with this question.

Unique G: Will never DM first:

Sure.

Preselected questions about the Unique.One project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @yellowchamp

With your “Artist No-Fee policy” which stated that you don’t charge creators fees. Artists get full price for their work.I’m a little bit confused with this statement, can you explain it more? Why you are not charging creators fees? Do you have any criteria for giving a price with your Artist or it is fixed already? What kind of Artist are you recommending to join your platform?

Unique G: Will never DM first:

Traditionally, NFT platforms will charge the creator a fee for creating an NFT token.  Unique One does not charge this fee.  So there is no additional cost other than that for the interaction with the smart contract.

The other charge is when the artist sells.  On other platforms, they can charge both the buyer and seller 3.5% for example.  This means the company collects 7% in total.

Here at Unique One, we don’t charge artists for selling.  We only charge 1% platform fees for the buyer.  And as I explained earlier, this 1% goes back to the token holders.

Gold Rocket | Satoshi Club:

It’s very smart!👍 Thanks for the answer!

Unique G: Will never DM first:

As for our artwork policy, we accept all kinds of digital art.  The only thing that we do not tolerate is copying and selling other people’s work.  This is theft!  We have clearly detailed in our terms for such violations.

I think people in crypto have to understand that the reason they lose money or do not get full value is that all the value is taken by someone else.

Gold Rocket | Satoshi Club:

Strongly agree about copyright

Unique G: Will never DM first:

We want to prove that blockchain is made for disintermediation and not a tool for intermediaries to use to make money.

D| Satoshi Club:

Do you have a mechanism, how to check that it’s a copy work and not the original one?

Gold Rocket | Satoshi Club:

However, money is also important. 😊

Unique G: Will never DM first:

At the moment it is complaints based.  We will depend on the community to keep the platform in order.  This way we can keep censorship down to a minimum.  Other platforms also ban projects doing airdrops for their community.  It is extremely dangerous to play God in a decentralized world.

This is the problem.  The community wants to realize value but when the projects are greedy.  The community gets burned.

Gold Rocket | Satoshi Club:

You noticed it perfectly! Thanks for the answer! Everything is clear to me. The next question?

Unique G: Will never DM first:

Yes

Gold Rocket | Satoshi Club:

Q2 from Telegram user @Highpee

Unique.One is a permissionless decentralized NFT exchange. Of recent, Defi projects have decided to become open and permissionless in order to gain trust. However, going open and permissionless have its own risk as your codes are open and your project can be easily cloned. Also, some cloned or fork projects have also been found to perform better than the original project. How do you intend to deal with this kind of situation in order to maintain your originality and competitiveness? Are you a clone of a previous project?

Not an easy question

Unique G: Will never DM first:

Sure.  For codes, when we refer to open source, it is often the smart contract portion that is open source.  We still have to create new code for the website and interface.  We studied the rarible code and used a large part of it with the exception of a few parts and made some changes to it.  There will be a difference between us and Rarible in the sense that all our codes will be fully open-sourced.  This is the principle we live by and we hide nothing.

In terms of competitiveness, there are many improvements we can make and we are looking into such as NFT fractionalization and integration with DeFi.  Our policy here is to work with everyone and not do everything ourselves.  After all, we are a community project and have no profit agenda.

Gold Rocket | Satoshi Club:

Btw is your team anonymous or are you, public persons? how many people are on the team?

D| Satoshi Club:

And here also we have to ask our favorite question about the audit.😄 do you plan some audits?

Unique G: Will never DM first:

It is worth noting that Unique One despite being a young low cap project, will be sponsoring ETH Denver 2021 VR Art Gallery.  Super-rarre will be displaying their works there.   It is a purely digital event that lasts 24 hours for 7 days and free to the public to join.  It starts on 5th Feb 2021 and we hope everyone can join in.

Yes for the audit, we are in progress and hope to have the audit results published before our main-net launch on 28th December.  We choose this date to launch the main-net because it coincides with the Comiket in Japan which is the major anime and manga event in Japan but it will be done virtually this year.  We have very close links with Japan and Japanese projects.

D| Satoshi Club:

This is great!

Unique G: Will never DM first:

I really encourage everyone to look at our mining program and liquidity provider programs.  We have transaction mining and also volume mining.  Basically, we want to be sure not only whales can earn the tokens. In total, 60% of the tokens of the project can be earned.  And the community will own this project in its entirety.

This is our token distribution

Dev Funds – 20%

DAO Allocation – 20%

Creation Mining – 10%

Transaction Mining – 10%

Volume Mining – 10%

Contest Rewards – 10%

LP Mining – 10%

Bounties – 5%

Airdrop – 5%

Our long-term plan is to create an ecosystem of marketplaces and obviously, the $rare token holders will have some benefit when these sister projects are launched.  We are also keeping an eye on the Polkadot/Kusama ecosystem and impressed by some developments by Unique Network (no relations).

D| Satoshi Club:

Thank you! @GoldRocket27 do you have any additional questions?👀

Gold Rocket | Satoshi Club:

I wanted to clarify about the team that helps create this project😊 Thanks for this. This is really impressive.

Unique G: Will never DM first:

If you guys know anyone, even if they are traditional artists.  We have community members ready to guide them and onboard them.  We believe there is only a fraction of a possible number of artists that is on NFT platforms.

Other platforms will treat you are customers.  Here we treat everyone as members of the community, as it should be.

We are an anonymous team and choose to be for the reason that we want to move this to a DAO governance.  Once the DAO governance takes over, then the community will decide what to do when the regulations eventually arrive for DAOs.  We call ourselves the founding team and our objective is to pass the governance to the community asap.  In terms of expertise, we have veterans with more than 20 years of experience in all the key areas such as marketing, business development, software development, public relations, management, etc.  But again, the objective is to pass this on to the community.

Gold Rocket | Satoshi Club:

👏👏👏 great! Can we proceed to the next question?

Unique G: Will never DM first:

We understand choosing to be anonymous also means that people will scrutinize us.  This is why we did not go public until we have a test net.  And this is why we only list when we are sure we can deploy on main-net.  We want people to judge us by the product and experience.  Come and talk to us. Sure.

Gold Rocket | Satoshi Club:

Q3 from Telegram user @Pannicota

Hi sir

Unique.One provides for users an ability to vote on governance decisions because it’s built on DAO structures right? But It seems that many DAO project’s voting systems are being Heavily manipulated by some Large Tokens Holders (Called Whales), I said that because big holders = big powers in voting, and tokens are easy to get through exchanges. And it brings bad DAO Voting behaviors, unfair for many small investors, small holders so how will Unique.One provides the fairness / the trusted, the balanced in the DAO Voting process on Unique.One projects?

Unique G: Will never DM first:

This is a great question.  Yes, absolutely we recognize this as a major problem.  We have released our first DAO Governance Proposal for community voting at governance.unique.one.  This is so that the project is from day 1 a decision by the community.  In this phase, we are using Snapshot which is an off-chain voting mechanism and yes it uses the number of tokens in an account to count as votes. This is why we have a phase 2 governance.. let me explain.

D| Satoshi Club:

Sure!

Unique G: Will never DM first:

In phase 2, we will adopt a DAO system but it is important for everyone to understand that the DAO is just a mechanism to vote and ratify a decision.  The actual governance structure needs to be built on top of this.  We have a proposal for the committee which are separated by functions and also by governance or management.  We will announce when we are ready but we expect our proposal to be the first in the world.  As for the voting power, we have a solution for this.  Being an NFT platform, we can easily deploy a system where there will be requirements to participate in voting for certain matters (this means the issue can be categorized and various types of voting used).  So for those who qualify, we can issue the person an NFT.  This NFT can be deposited into a contract that produces another ERC20 that we will use for voting.  So this means one person one vote instead of one token one vote. I hope that answers your question.

Gold Rocket | Satoshi Club:

All clear! Thank you!👍 next question?

Unique G: Will never DM first:

In terms of languages, we have our Chinese site up at cn.unique.one and we should have our Japanese site up soon as well.  We will gradually expand to all languages. Sorry I was taking advantage of the delay.  Yes, please.

D| Satoshi Club:

Interesting system…

Unique G: Will never DM first:

The technology is very flexible but it is only one part of it.  At the end of the day, we are humans and we need a human system as well.

Gold Rocket | Satoshi Club:

You can take your time if you want! we want you to feel comfortable!😊

Unique G: Will never DM first:

Hahaha thanks. We want people to come to use the platform and own the platform and I hope many of you here will come join us.

Gold Rocket | Satoshi Club:

Please share useful links to the project with our community!

Unique G: Will never DM first:

Upcoming Events

18 Dec to 21 Dec – Governance DAO Proposal Ratification on a snapshot

21 Dec – Unique.one Chinese AMA in Biki WeChat

22 Dec – Biki Exchange and Uniswap Listing + Biki CEO AMA in Unique.one telegram + Biki Grid Trading Reward Programme

28 Dec – Comiket Air + Mainnet Launch

Website : unique.one

Chinese website : http://cn.unique.one

Our Testnet is Live!

http://testnet.unique.one

(We recommend Metamask on desktop at the moment and remember to select rinkeby network)

Governance Voting

Ratification of Governance DAO Proposal https://governance.unique.one/#/uniqueone.eth/proposal/QmcTuiju5kwREZ6DzM5sBgcbrzDVU6C2txLqZugcsLcgi5

Articles about Unique.one

Introducing Unique One https://uniqueone.medium.com/introducing-unique-one-6cfe19450e3c

Testnet Is Live https://uniqueone.medium.com/unique-one-testnet-is-live-31ac7c567dc3

DAO Governance Proposal https://uniqueone.medium.com/unique-one-dao-proposal-for-governance-structure-bdd7db0ea6bc

CEX and DEX Listing https://uniqueone.medium.com/unique-one-rare-listings-cex-and-dex-392dcfa2482d

Gold Rocket | Satoshi Club:

Wow! Thank you! 👍Then the next question can be asked!😉

Unique G: Will never DM first:

There are contests as well.  The Biki free $RARE sign up is almost over I think.  But we have a meme contest coming up for all you creative degens.  Biki exchange will have Grid Trading Promo as well.  And we will have Uniswap LP rewards and so on.  It’s going to be exciting!

Gold Rocket | Satoshi Club:

Amazing🚀

Q4 from Telegram user @lzamg

Most of the new crypto projects start the launch of their tokens with a public or private pre-sale and even airdrops. So I’m curious to know: why did you decide to not do any of this and directly put the $RARE tokens on Uniswap for the people to purchase? Is this a strategy to arise trust and security within the users?

Unique G: Will never DM first:

This is an excellent question.  We follow a method called Fair Launch.  This means even team members have to buy the tokens as everyone else in the private sale.  The main advantage of this system is that it prevents dumps in the market on the listing.  We have learned a lot from the 2017 ICO craze and most of the team members and advisors who obtained their tokens free will dump on the market.  This means investors will lose their money and there is no end to the price drop.  Personally, I have invested in a few of such projects and it is unpleasant.  The other key to this is actually the market cap.  We only raise what we need to get the platform developed and get off the ground running.  There are no extras for us.  Other projects will try to raise as much as possible and this is greedy in our opinion.  Early adopters need to be rewarded and we have to respect this basic law in crypto.

D| Satoshi Club:

Can you tell us, how much liquidity will you add to the Uni pool? and at what price people can buy $RARE?

Unique G: Will never DM first:

We want to grow from 20 to 200 and from 200 to 2,000.. and from 2,000 to 20,000.. and the only way this is going to happen is if everyone realizes value from the platform.  As you can see there are many dead projects in crypto and we believe is it simply bad karma.  They took advantage of their community and this project will never succeed.

| Satoshi Club:

👍 Yes, this is true.

Unique G: Will never DM first:

We are listing on Biki Exchange and Uniswap.  We aim for a liquidity of at least USD10k gradually building up in the first few days.  The reason is that the community needs to come in and provide the liquidity.  The method of adding liquidity on Biki Exchange is different and actually very interesting.  Grid Trading is actually an automated trading tool and if enough users provide liquidity, you have a very active market.  So of course there are risks but we have already allocated tokens to Biki to give as reward.  So we think it is a good place to try to earn some tokens as you will be essentially getting an airdrop regardless of trading performance. At first, we were only going to list on Uniswap but then we realize not everyone can use DEX and also not everyone wants to pay the high fees for a trade.  Biki Exchange has been very accomodating to us to our surprise and they have 3 million traders and big exposure to China.  This is why we created the Chinese website, it is to cater to this community.  This was not in our original plan.  Additionally, we will also launch a balancer pool.  Our philosophy is to give as many options to the community as possible.

Gold Rocket | Satoshi Club:

This is really very tempting.

D| Satoshi Club:

Yes, I actually think it’s a very wise decision to going to the list on CEX and DEX on the same date.

Unique G: Will never DM first:

We expect Grid Trading to have a positive impact on the price (not financial advice).  The reason is other traders on the platform will need to buy rare in order to join the Grid Trading contest.  It also serves as a liquidity lock.  We are hoping for good results but we are in the same position as everyone when it comes to prediction.

D| Satoshi Club:

Thank you for the detailed answers! ready for the next question?

Unique G: Will never DM first:

We are keeping an eye out for the developments on the Polkadot ecosystem and especially Polkaswap which will be a CEX and DEX aggregator.  There is no way to get Polkaswap except through the sora and Val farming game at sora.farm.  That’s a tip, but really, we are ready to move there from Uniswap especially if it has greater liquidity and rewards. Yes, please.

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Jonahapagu

Unique.One will hold weekly artist contests providing Artists with an opportunity to win $RARE… Can you explain more about this contest how do artists qualify and partake in this contest, and what do they have to do to win… you have reserved 1 million tokens for this, will the contest stop after the 1 million tokens have been exhausted.

Unique G: Will never DM first:

I am glad you asked this question.  The artist contest will start in early Jan 2021 and the format will be decided by the community.  The topics are endless, we can have character design or landscape, or photo manipulation, or gif.  We can also make it a theme like Satoshi or CZ.  We can have a collaboration for example with Satoshi Club where we can have a Serg contest.  Maybe who makes Serg the most handsome wins.  LOL.  More importantly, the reason we want to hold this is so that the qualitative aspect of the art is recognized and rewarded.  We want new artists to be known, not only the well-established ones.  And when they become more famous, we hope they can enhance their ability to earn.

Gold Rocket | Satoshi Club:

Let’s ask Serge😂

Unique G: Will never DM first:

The token allocation is over 5 years and we believe that we will know whether we succeed or fail over 5 years period.  But there is no need to worry after 5 years because the technology would have improved and as long as the DAO decides, the project can adapt to the new conditions and continue to grow.  I want to emphasize that the value of digital art is more than what many can imagine.  We are looking at a market of tens of billions and where existing platforms especially photography or stock photos can charge as much as 40% for sales.  If we succeed as a community and platform, there will be tremendous value for everyone.

Unique G: Will never DM first:

He will say he is already too handsome

D| Satoshi Club:

HaHaHa.

Gold Rocket | Satoshi Club:

I think so too😁

D| Satoshi Club:

Ok, so who will be picking the winners of the contests? community?

Unique G: Will never DM first:

Yes, the voting will be via snapshot. A platform is just a tool and the team is just a facilitator, the community owns Unique One and they decide.

D| Satoshi Club:

Thanks for the answer! 👍 ready for the last question, from part 1?

Unique G: Will never DM first:

Yes, please.

D| Satoshi Club:

Q6 from Telegram user @Garrinepotter

Farming tokens in liquidity pools is a common and boring business. You create an NFT marketplace where art will be presented as a commodity. Will it be possible to farm on your platform using NFT? For example, for posting quality content. Is it possible to incentivize artists with your tokens? By the way, Satoshi Club we need more people there @unique_one_rare let’s join 💪

Unique G: Will never DM first:

Great question!  The idea of farming NFT is excellent and it is something we foresee doing.  We may also do NFT games but our idea is that it should be a platform so that others can easily do it.  There are some NFT games that are not really open source.  Most of the code is actually closed.  And yes, we are talking to two NFT fractionalization platforms.  As you know the potential is endless for this.  It can be used to fractionalize artwork but it can also be used to fractionalize bonds or insurance or other financial instruments.  We are at the very beginning of a large revolution.  If you guys have a startup idea, please come and talk to us.  We are all about community and collaboration. Thank you so much, guys. We really appreciate all your support.

D| Satoshi Club:

Thank you for such cool and informative answers! 👍

Gold Rocket | Satoshi Club:

Thanks for your great answers! Are you ready for the storm of questions?😁

Unique G: Will never DM first:

I just want to emphasize that you do not have to be a developer to start a project, please come and talk to us.  We are also talking to people who are deep into Music NFTs and DeFi. We always believe that relationships come first and eventually we will be able to work together. Yes. I have seen the craziness.. hit me.

Gold Rocket | Satoshi Club:

You have to choose the best 10 questions and answer🚀

Unique G: Will never DM first:

Sure.

D| Satoshi Club:

Great! Satoshi club if you have some good ideas, go and share them😊

Unique G: Will never DM first:

Absolutely. Satoshi Club is VIP

Gold Rocket | Satoshi Club:

@Cool_as_Ice open live chat!🚀 Thanks for your kind words❤️

D| Satoshi Club:

let’s go!🚀

PART 2.Questions about the Unique.one 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 Unique.one DeFi project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @Cryptoyese

As someone that has one time visiting Japan. I understand the richness of art in that region. (Say for instance the Aichi Triennale). But with the covid19 pandemic still very much at large, more people chose to spend their time online.. and this has really had a debilitating effect on offline artists.

I’d love to know if you have plans To reach out to the struggling artists on the street of Japan 🇯🇵 that has little or no understanding about NFT’s, possibly never even heard of them?

Unique G: Will never DM first:

Yes, it is.

Q – 2 from a telegram user @Jonahapagu

Unique.One will be a place where new and professional Artists can push their creativity to the limits on a fair and level playing field..so can anyone with almost no skills be able to create NFT’s on your platform or will this be limited to only professional and experienced people…in other words what level and type of skills do I need to be able to use Unique.one platform to create NFT’s.

Unique G: Will never DM first:

Unique One does have a verified artist program and we believe that a decentralized platform should minimize censorship. Therefore, anyone can participate in our platform. And we do not prevent people from giving airdrops or using the platform creatively. Like we said earlier, we are extremely against copyright violation.

Q – 3 from a telegram user @Spott

No public sales, no ICOs or IEOs for UNIQUE ONE project,
What is the concept behind this?

Unique G: Will never DM first:

It is called a fair launch. Meaning everyone has to buy the tokens including the founding team. We have been invested in other projects that use this principle. Although there are varying understanding of fair launch, we believe this is a good approach.

Q – 4 from a telegram user @zaferce

Digital collectibles are developing as a large amount of funding flow to the digital art market, but the digital art trend in the industry is still not fully developed. How does UniqueOne prepare for the Non-Fungible Tokens (NFT) market and how does it contribute to this trend?

Unique G: Will never DM first:

The art and blockchain trend actually started quite early with the track and trace of physical artwork on the blockchain. In the beginning, it doesn’t involve NFT but it’s just posting the hash to the blockchain. Later, with the Cryptokitties craze, NFT gamification moved the trend one step up. The current trend for NFT and Digital Art is still rather new but of course, the explosion came when a token model was applied. But the problem is that all of these platforms belong to for-profit companies and backed by VC who obviously want to profit. We are here to challenge that.

Q – 5 from a telegram user @highpee

I must congratulate 🎉🎉🎉 your team and I wish your unique project a success🥰🥰
You have planned that all your liquidity providers will get a share of 💰💰💰 1 million $RARE tokens for providing liquidity on Uniswap. What LP pairing will be available? How are LP provider’s reward determined? Are there special rewards for providing liquidity for a longer period in your pool? Also, there is no information with regards to liquidity lock duration and whether liquidity can be withdrawn anytime?

Unique G: Will never DM first:

The trading pair on Uniswap will be RARE/ETH and the trading pair on Biki will be RARE/USDT. This gives our community the option to choose. We haven’t decided on a balancer but it should be RARE/USDT. This will only be launched once the trading is stabilized.

Q – 6 from a telegram user @kikirush

Why is the team behind Unique One anonymous, don’t you think it can affect investors’ decisions? Do you plan to disclose the identity of the team in the future?

Unique G: Will never DM first:

The team is anonymous because we do not want personalities to dictate where the project is going to go. Actually, the choice of being anonymous is really up to the individual. For example, our committee in the future will recognize members by telegram handle or their social media such as Twitter. If this person wishes to be known, it is completely up to them. We hope that the DAO will be handled by capable people who can take it to the next level, and it is possible this person might be someone well known in the crypto world.

Q – 7 from a telegram user @KASG95

Really, what other great use could NFT art have apart from the use of a collection, which will allow its creators to obtain rights and rewards for royalties? and how much would be the% of royalties?

Unique G: Will never DM first:

So this is an important question because a lot of people do not understand why Digital Art NFT has taken off. So we need to compare to artists on let’s say Deviant Art who is posting art for free and sometimes they hope to get commission work. If they do commission work, then the copyright belongs to the person who hired them. But here in the Digital Art NFT world, the copyright belongs to the artist. So this is why they can collect royalties on subsequent sales of the artwork. Now there are no rules to the number of royalties that the artist can charge. But it is obvious that if the artwork contains royalty of let’s say 30%, then there will not be many buyers because when they resell, they get 30% less. Unique One allows a range of settings but generally, a royalty of below 10% will be better for the resale market.

Q – 8 from a telegram @bitgraile

They say 2021 is going to be a year for NFTs. With lots of NFT platforms sprouting everywhere, which platform do you consider as your biggest competitor and why? Thank you.

Unique G: Will never DM first:

Yes, we believe so too. The space is new enough that we don’t consider any other platform to be a competition. The reason is that we have a different model. Most if not all of the platform is owned by companies and backed by VCs. Their objective is profit. Our objective is to create a community platform. So we don’t have a competitor in this category. And over the next few rollouts, we will be a truly unique platform. I encourage you to try all the platforms and come to our platform and see the difference. Your voice will be heard by people who genuinely want to build for the community and not some poor customer service.

Q – 9 from a telegram user @Alika061

where was the $RARE token listed on the exchange market by the #UniqueOne team and how did the marketing team create mass adopters for the number of tokens to increase? then has the $RARE token price been registered with Coingecko where can I buy the $RARE token?

Unique G: Will never DM first:

We will be listed on Biki a CEX and Uniswap a DEX and we will be registered on Coingecko after launch and I have to say this is nothing special because Coingecko is a fair platform to all. The reason we are waiting is so that we can provide all the information in one form to send to Coingecko so there will not be mistakes or unnecessary updates

Q -10 from a telegram user @notulu

“Unique.one is a non-profit seeking and supports artists and work with zero fees”. So my question is How does unique.one generate profit and what is the main source of income?

Unique G: Will never DM first:

The token model provides token allocation for the DAO and these tokens will be worth something and it will be the decision of the DAO on how to spend this. The entire idea is that the platform can sustain itself up to year 5 using these funds. We charge a minimal 1% fee for buyers and this platform fee is used to buy back $RARE (increasing the price) and redistributed to all the circulating supply token holders. After year 5, the DAO can decide to either increase or add fees or adopt other revenue models.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Unique.one 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: Unique.one

Telegram group  |  Telegram Chanel  |  Tweeter  |  Website  |  Medium  |  Facebook | Instagram | Youtube

The New Year’s amarathon continues and Satoshi Club is visited by incredibly interesting projects. Today we would like to tell you about the AMA session with our friends from Peanut Project. The AMA took place on December 21 and our guests were Alex Momot, Founder&CEO at REMME, Board Member of the Bitcoin Foundation of Ukraine and Remme Roman.

The total reward pool was 1000$ and has been splitted in 3 parts.

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

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

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Peanut Project! @Remme_Roman @AMomot welcome to Satoshi Club:grinning:

D. | Satoshi Club: @Remme_Roman @AMomot hello guys! welcome!:wave:

Irina K. | @satoshi_club: Hi everyone and welcome @Remme_Roman and @Amomot

Remme Roman: Hello guys! Thanks for inviting us to your cozy group 😄

Alex Momot: Hi guys! Happy to be here!

Mary | Satoshi Club: Guys, it will be very interesting to see your intro) and of course, intro of Peanut Project 🚀

Alex Momot: My name is Alex Momot and I’m in crypto since 2013. Ethereum ICO participant and serial blockchain entrepreneur

Mary | Satoshi Club: It’s very short intro:joy: as i know you’re also in Bitcoin Foundation of Ukraine, right?) You’re making a lot of things for crypto massadoption)

Alex Momot: Right, from 2014 🙂 and many other activities in the space including building miners equipment and several startups

Remme Roman: Peanut is an advanced price balancer tool. As a good example, every time a trader swaps between tokens using an AMM, the price of the tokens in the pool changes. This affects the value of the pooled holdings of all liquidity providers. When one of the tokens in the pool spikes or crashes in price, as can frequently happen, liquidity providers suffer what’s known as impermanent loss.
As a result, when they go to withdraw their assets from the pool, the value of their holdings has diminished.
Peanut balances prices after each trade to reduce slippage and helps liquidity providers earn more.

D. | Satoshi Club: interesting concept:+1:

Mary | Satoshi Club: That’s great:grinning: we appreciate everything you did)

Alex Momot: Current flow without Peanut:
Step 1.
User buys Token A for ETH on Uniswap and creates slippage. Let`s say 2%. So he will recieve 98 tokens instead of 100.
Step 2.
Next user buys Token A for ETH on Uniswap and creates additional 2% slippage and he will receive 98-2%=96.04 tokens.
So slippage will be accumulated for each next user.
If arbitrage bots works on this token then part of slippage will be drained making slightly better rate for next user but creating impermanent losses as a result.
In both cases users and LPs will receive less.
Proposed flow with Peanut:
Step 1.
User buys Token A for ETH on Uniswap and creates slippage. Let`s say 2%. So he will recieve 98 tokens instead of 100.
Step 2.
Peanut balancing the price by moving liquidity from other exchanges to Uniswap making price 99 and providing part of profit to LPs covering impermanent losses.
Step 3.
Next user buys Token A for ETH on Uniswap and creates additional 2% slippage and he will receive 99-2%=97.02 tokens.
Step 4.
Peanut balancing the price again by moving liquidity from other exchanges to Uniswap making price 98.01 and providing part of profit to LPs covering impermanent losses.
So slippage will be lower for each next user in comparison to flow in first example.
In both cases users and LPs will receive more.

Here is detailed explanation how our balancing mechanism will work

Mary | Satoshi Club: Yes, i saw your graphics) it’s exciting! I have just one question before we will start with community questions) Why Peanut?)

Remme Roman: Our concept has same with a peanut bean. It’s also consist of two edible parts and Peanut divides LP assets into two «edible» parts also:
90% is used for providing liquidity on Uniswap or via another DEXs
10% is used for automatic multi-level price balancing between Uniswap and other DEXs and CEXs.

Mary | Satoshi Club: Wow, finally it’s not just the name of a food or vegetable) but the name with a sense:grinning:

Remme Roman: yep, we think over everything to the details 😉

D. | Satoshi Club: wow…you will be work only with Uni? or with other DEXs as well?

Alex Momot: With Curve, Balancer, Sushiswap and even with several smaller DEXs as well. We can integrate most of AMMs if there will be enough liquidity

D. | Satoshi Club: great! nice diversity :+1:

Q1 from tg username @lionelos

You say that the smart contracts automatically ballances the prices after each trade. Can you tell me more about how this works? Do you have a pool for this?

Alex Momot: It`s not smart contract only, we have sophisticated backend for CEXs involved in that. We can analyze situation on multiple markets and find the best route how to balance the price

Users will have two options – create a new pool on Uniswap through our solution. In that case 90% of liquidity goes to Uniswap and 10% go to Peanut as an additional balancing pool. Or you can create a balancing pool for existing Uniswap pools. The same scheme will work for other DEXes.

D. | Satoshi Club: can we compare you project with, let’s say – 1inch aggregator? you do the same things?

Alex Momot: We made our own smart routing mechanism similar to 1inch 2 years ago – Swapy.app and used that experience while building Peanut. But Peanut itself works in other way – earning money with current market swaps with no need waiting for someone that will use specifically our platform

Mary | Satoshi Club: Is it still working? I mean, Swapy.app?

Alex Momot: Yes, you can try it 🙂

Mary | Satoshi Club: I definitely would:grinning:

D. | Satoshi Club: @madamlobster do you want to ask your favourite question here? :eyes:

Mary | Satoshi Club: Ahaha, yes, i think i will:joy: What about Peanut audit?)

Alex Momot: Good news here is that CEX part of our product centralized and will not suffer from classic flash loan attacks 🙂 As for public smart contract part that should be launched in Q2 we will make an audit before the launch

Q2 from tg username @Vir_leroy

Did you have a pilot project or some tests that can show us how efficient your arbitrage method is?

Alex Momot: Our CEX-DEX balancer is live now (in close mode). DEX onchain part should be launched during several weeks. Frontrun and MEV protection finished. Monthly turnover around $5m with 50k profits. We are planning to caught few % from total market slippage during the year. Now it`s $300m per month on Uni only

Mary | Satoshi Club: I think few % from $300m will be ok) When will we get possibility to test it?

D. | Satoshi Club: more than enough for someone:grin::wink:

Alex Momot: We are not planning to provide direct access to bots itself. The idea is that LPs will provide liquidity and we will redistribute profits from balancing mechanism to them through token. Buyback program will start working from the day 1 after listing on Uni

Q3 from tg username @Antonerem

Based on the information you provide, all actions are performed on a smart contract level. Isn’t this a bit slow? Especially when the network is overcrowded and bottlenecks appear, how can you work fast? Lattency is essential in what you’re trying to do.

Alex Momot: You are right – smart contracts are slow. Calculations made on our backend that should work very fast. We should perform Reserve updates, Estimation, Gas estimation and TX publishing in less then 20 ms and after that trancastions will be included in the block (block time in Ethereum is 16 seconds) But it`s about DEX onchain part. If we talking about CEX part speed is not so important cause there are many other risks like hacks, token withdrawal issues and so on

Mary | Satoshi Club: How can it be faster?

Alex Momot: It`s all about proper architecture – all logic should be outside smart contract

D. | Satoshi Club: by the way, do you have plan to solve the issue with high fees on Ethereum somehow? maybe not in the nearest future, but you are working on something like this?

Alex Momot: I believe we should ask Vitalik about that :joy::joy: On our level we could work on reuse of each tx instead of cancellation, use various gas tokens and monitor mempool to be sure we making proper gas estimation

Q4 from tg username @batrud

Do you intend to expand the coverage to other types of trading in the future? Many forex? Or other areas in which slippages appear quite often?

Alex Momot: Sure, we will add more CEXs and DEXs cause there are many different markets and liquidity in crypto is fragmented. So in other words we have built interDEX integration solution 🙂

Mary | Satoshi Club: Can you give us current CEXs and DEXs names? I mean those you know will be available after launch

Alex Momot: Now we use Binance, Huobi, HitBTC, Kucoin, Gate and Uniswap. We are planning to add Curve, Sushiswap, Balancer and many CEXs as next steps

Mary | Satoshi Club: Great:grinning: do you plan any partnerships with this exchanges?)

Alex Momot: Sure, and we have the first with Curve and more to come :grinning:

Q5 from tg username @hadrianus14

Why did you need to build your project on a blockchain infrstructure? What are the advantages and unique functionalities that the blockchain provides, because from where I see it – it would have worked better with a “classical” tech solution?

Alex Momot: As for the CEX part – yes, it`s classical, but for DEX – it`s completely new mechanics. MEV, frontrunning (with blockchain specifics) smart contact routing for tokens, different types of txs – everything works onchain and will be impossible without sophisticated DeFi market in current state

Mary | Satoshi Club: Btw, do you work with non-blockchain projects?)

Alex Momot: Currently we are working in blockchain space only. And token should be listed on two exchanges at least

D. | Satoshi Club: and do you have any plans regarding to cross-platform interoperability?

Alex Momot: 99% of all liquidity now on Ethereum network. Once we will see significant growth on other platforms we will integrate it

Q6 from tg username @edibrown

What is the relationship between NUX and REM? Why do people need to hold REM in order to participate in the airdrop and get bonuses?

Alex Momot: Peanut made by the Remme team. We made airdrop for Rem holders and Guardians (BPs) for attracting long time holders, supporters and tech savvy users for initial growth of the new product. We believe community is very important part of every project.

Mary | Satoshi Club: Did you already made $NUT airdrop?

Alex Momot: Not yet

Mary | Satoshi Club: Is it possible to get in now? If i will buy REM now? Or it’s late?

Alex Momot: It`s too late for the airdrop but you still can take part in pre sale tomorrow🙂

Mary | Satoshi Club: Super! What will i need for this? KYC? Min/max to participate?:grinning:

D. | Satoshi Club: can you give us information about your pre sale?:blush:

Remme Roman:

PreSale start date: 22 December, 3 PM (UTC)PreSale end date: 29 December
PreSale supply: 4 000 000 NUX
PreSale hardcap: 2500 ETH
PreSale price: $0.25
Personal minimum cap: 1 ETH
Personal Maximum cap: 200 ETH
Accepted currencies: ETH, USDT, USDC
Token lock period: 25 month
Token unlock period: 4% every month during 25 month
No KYC. There won’t be any whitelists or other criteria for participation. All you need to be mindful of is the time limit — don’t wait till the very last second or you could be too late!

Part 2 — live questions from the Telegram community

Q1 from Telegram user Memo

I understand that the tokens will be unlocked in equal parts in the next 25 months, but will this not really affect directly the value of the NUX tokens in the market, through the continuous increase in supply in each unlock?

Alex Momot: Well, technically tokens will be unlocked during 750 days in equal parts each second, so growth in circulation will be very slow and smooth. The idea behind it is that tokenomics will start working immediately and token performance will be much better in comparison to usual situation in blockchain space 🙂

Q2 from Telegram user @KevSalom

You mention that “any potential price movement of large DEX trades can be immediately damped by matching it on the CEX, protecting LPs from slippage”… But can’t very long movements in one direction exhaust this price cushioning capacity? Is it impossible for peanuts to stagnate?

Alex Momot: Price movements should be aligned on all markets otherwise arbitrators will earn instead of users. For efficient work of our algorithms we need volatility in any direction with any speed or size. Bad situation for us is absolutely stable prices but luckily it`s very rare situation in crypto 😀

Q3 from Telegram user @jerryziz91

Can you please be more specific about “NUX”? What is that, like gas for balancing algorithms… what does it mean?

Alex Momot: Peanut is powered by its own ERC20 utility token, NUX. In order to add liquidity to the Peanut pool, users will need to deposit some NUX tokens. Otherwise, Peanut’s algorithms won’t be able to conduct operations with the user’s liquidity.
NUX enables our algorithms to work with your assets. Liquidity provider (or regular user) should have enough NUX on the balance for the Peanut balancing mechanism to start operating on their liquidity. Once profit is earned fee will be taken from the NUX tokens too.
Once the large-scale distribution is achieved and governance best practices proved, we’re planning to use NUX utility token for governance purposes.

Let’s use an example:
REM-ETH pool on Uniswap now has around $30k total liquidity.
Let’s imagine all liquidity is provided by one person and he wants to have a part of the slippage and IL back.
For the Peanut DEX-CEX balancer to work they should put 10% of the pool value into our custody.
$30k*0.1 = $3k (DEX on-chain balancer don’t require balance)
Next they should BUY & STAKE $3000 in NUX token to unlock use of the balancing algorithm.
REM slippage on Uniswap was $16k (August, September, October).
If we will be able to catch 1% of slippage only, it will give $160 during these 3 months and $640 per year (21.3% annual yield).
If we can catch 5% – $800 and $3200 respectively (106.6% annual yield).
From all profits Peanut will takes 10% as commission.

Q4 from Telegram user @chelyabinsk_crypto

How did you come up with the idea of creating the Peanut solution? Was it due to impermanent loss or some similar personal experience that made you nderstand that there would be room for such solution?

Alex Momot: Yes, it was our personal experience. Once we’ve provided liquidity to our REM token pool on Uniswap we got the idea of creating such a solution. We were faced with impermanent loss and slippage problems. At the same time prices on DEXes are not automatically aligned, and that led to a significant imbalance in the trading pairs. We’ve started looking for possible solutions to this problem and developing the current Peanut model. AMMs itself suffers from this problem from the beginning. When users sells smt with huge profits big slippage is ok but we should improve overall logic to help or market be more mature and attract new users

Q5 from Telegram user @Idee01

In doing a SWOT analysis, we are well aware of the strength of Peanut protocol (increases LPs profit, fix impermanent loss, reduces slippage etc). Can you honestly tell us the weakness of the platform and what steps have you taken to resolve it? What ways can the community contribute to the growth and development of Peanut project?

Alex Momot: Currently we are still fighting with frontrunning and MEV making protection better and better. Frontrun is a situation when smb’s trying to steal your txs and profit by reading it from mempool and creating the same tx with higher gas so miners will take such a tx earlier. We have implemented several types of protection for that already. MEV – it`s a unfair behavior of miners when they could take preferable tx with lower gas before your tx. Another potential threat is that crypto trading somehow will be stopped but I can`t see any possibilities to that :sweat_smile:

Q6 from Telegram user @delta7N312A

How will you attract crypto users to partake in NUX project ?
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Alex Momot: Well, we are not anon team and we have long history in crypto. With Remme we raised $20m in 2017-18 and made 4 products instead of 1, passed through crypto winter despite significant troubles and still here and delivering. Another thing is that we will have protection from rug pulling for our pool on Uniswap

Q7 from Telegram user @Skyeyes123

What is Peanut’s role and position among the existing AMM’s? Are the Peanut protocols collaborated with existing AMM’s or built to replace it?

Alex Momot: There is no need in creating one more “Uniswap killer” and try to attract LPs. That’s not our way. Bancor, Mooniswap, Dodo trying to solve this problem and attract liquidity but Uniswap, Curve, Sushiswap and Balancer have x50 total value locked. Peanut is like an additional pool for Uniswap and others. We’re not going to compete with Curve, Uniswap etc our main goal is to reduce slippage on any DEX platform. We will support Uniswap, Curve and a few other AMMs at the start. Uniswap is done already. You will have two options – create a new pool on Uniswap through our solution. In that case 90% of liquidity goes to Uniswap and 10% go to Peanut as an additional balancing pool. Or you can create a balancing pool for existing Uniswap pools.

Q8 from Telegram user @Xusuo

After I purchase NUX token from presale, they will be locked directly for 25 month? And every month the token will open 4%? Why did you use this method? Because not all investor can patient and wait for 25 month to get NUX Token

Alex Momot: There will be 0 tokens in circulation on day 1, 1.6% on day 30. Airdrop 15%+25% for sale = 40%. 4% unlock per month from that amount means 1.6% from total circ. It’s very good figure that will help avoid dump on the start and should help a lot with token performance once algorithms will start buybacks

Q9 from Telegram user @Garrinepotter

One day left before the start of the pre-sale. What moods prevail in society? Are you sure everything will be gone in a matter of minutes, or are there any little things? Will the collected million dollars be enough for the further development of the project? You promise to add 20% to the exchanges to provide liquidity, but is that enough to provide liquidity?

Alex Momot: Mostly bullish :joy::joy: Interest is very high so it looks like users faced with problem of IL and high slippage and we are waiting for successful pre sale. In few weeks after pre sale we will have public sale so overall capital will be enough for finishing development and improving overall efficiency. As for the pool size I believe for 80% of trades slippage will be minimal with such a size

Q10 from Telegram user @GoldRocket27

Оn December 22, 2020 you are planning to start the NUX pre-sale. Congratulations! This is a great event! .🇺🇦:heart::rocket: Tell us how you see Ukraine’s development paths in crypto

Alex Momot: Thank you! I believe Ukraine will be one of the top places for blockchain projects to be based in. Cause here are top developers, beautiful cities, low prices and country is moving in right direction 🙂

Part 3 – Quiz Results

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

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

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

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

Our partners:

Peanut Project Community: https://t.me/peanuttrade

We are pleased to announce our next AMA on December 22nd 2020 at 06:00 PM UTC Time: Satoshi Club x Prophecy

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

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

Part 3: 300$ – A quiz about Prophecy

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

We are pleased to announce our next AMA on December 28th 2020 at 03:00 PM UTC Time: Satoshi Club x Flashstake

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

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

We will have the following structure:

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

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

Part 3: 700$ – A quiz about Flashstake

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