Month: January 2021

PART 1. Introduction of Phantasma chain project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present to you Blockchain for next-generation content distribution.

Phantasma chain – is a fast, secure and scalable blockchain solution powered by the governance token SOUL and the energy token KCAL.

The plan of AMA session:

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

The reward pool is 800$

Leading the AMA our clever and fun admins:

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

The Representative of the project:

Jay – @senzsze

Joseph Colón – @Joeslanet – TCG with NFTs on Phantasma Chain

Bill Petridis 🇦🇺 (Now also an NFT) – @bpetridis – development operations and senior pre-sales consultant for Phantasma.

Introduction of Phantasma chain project.

Mary | satoshi club:

Hello, satoshi club! We are happy to announce our ama session with phantasma! Welcome to satoshi club😀

D| satoshi club:

Hey everyone 👋

@bpetridis @senzsze @Revoltoso @joeslanet hello guys! Welcome to satoshi club!

Jay:

Thanks d, happy to be here! 🙌

Mary | satoshi club:

Hello, Jay! Welcome to the club😉

Revoltoso:

Hello everyone!

Bill petridis 🇦🇺 (now also an nft):

Great to be here everyone 😊

Mary | satoshi club:

Hello, guys! Almost all are here👏

D| satoshi club:

Good to have you here guys 😃

Mary | Satoshi Club:

Let’s start the party 🚀

Could you please introduce yourself and tell us more about Phantasma?😉

Joseph Colón:

Hello guys! Happy to be here 😉

Mary | Satoshi Club:

Welcome here, Joseph👏

Jay:

I’ll start off by introducing myself and my role in Phantasma 😃

I joined the Phantasma ecosystem as a community manager and part of the Phantom Force back in the autumn of 2019.

I have known Bill and our most insomniac dev Vincent @vgrofll for a long time from other projects and common groups, so it was an easy decision to jump on board and get involved when I saw how far along they were already compared to other projects in this space.

Since then I’ve just become more and more entangled in everything Phantasma, from software testing to strategizing, content creation, website building, marketing, etc 😃

As for Phantasma itself, there is just so much to tell as we have been spending the last couple of years hunkered down in full on #BUIDL mode, but here’s the elevator pitch to get an impression. This is just scratching the surface however 😃

Phantasma (phantasma.info) is a highly scalable blockchain and development ecosystem, built from the ground up for gaming, NFTS, and Dapps. It features tri-chain interoperability across our mainnet, Ethereum, and NEO, built-in oracles, and advanced Smart NFT technology.

With our high capacity, native decentralized storage, and near-free transactions, we feel we are perfectly positioned to provide the technological backbone for the future of gaming, NFTS, and digital ownership in its growing ecosystem.

Phantasma’s NFT self minting console unmint (ghostmarket.io/mint) delivers an immutable touchpoint between artists and their fan base.

We also offer Steam Integration to bridge the gap between mainstream and blockchain gaming via www.pavillionhub.com – this is a one-stop-shop for any gamer, blockchain, regular, or both to link their wallets, steam accounts, and NFTS and utilize their gaming property.

The key takeaway from all of the above, is all of this works, right now, we pride ourselves on building first then advertising. We have a very strong and growing user base and feel that is the key element to our ongoing relevance.

Mary | Satoshi Club:

Oh, you are as a family member there😂

Jay:

Pretty much yeah, and that is part of what makes Phantasma so awesome, it just feels like family. And that doesn’t just apply to the team, but it extends to the rock-solid and knowledgable community surrounding everything Phantasma does. We’re extremely open to community feedback, and a significant amount of the massive upgrades implemented on Phantasma with regard to features, UX, etc have been born out of community feedback 😄

Joseph Colón:

I’m part of a team that is building a game that is powered by Phantasma. When looking for the ultimate blockchain for our game, as we made a lot of research and came to the conclusion that Phantasma is the best choice. We needed to make sure that we were using technology that allowed us to take our game mainstream and for players who are not familiar with blockchain to get started as easily as possible. For anyone here that is interested in developing a Dapp or a game, I’m happy to answer any questions you might have.

Mary | Satoshi Club:

Nice! It’s really exciting to see that the game industry now more and more involved in blockchain 👏

Bill petridis 🇦🇺 (now also an nft):

I’m the development operations and senior pre-sales consultant for Phantasma. How I ended up in this position is a semi-interesting story. Experience wise, I have been in enterprise software in varying capacities for 20+ years, delivering E-Commerce, Document Management Systems, and Content Distribution Solutions. I’ve done everything from technical analysis, dev-ops, development, solution architecture. Feel I’m putting you to sleep – I’ve been around the block a few times, in short 😊, have worked for Oracle and a lot of large organizations in Australia, and was even assigned to Obamacare for close to a year.

I’ve been involved in crypto for 5 years and about 3 years ago started assisting a close colleague in finding a blockchain meets the objectives of the team behind www.22racingseries.com.  Eventually, I found Phantasma.

Since then I’ve become increasingly involved with the project to the point where I currently function in the capacities above. It’s a slippery slope.

Mary | Satoshi Club:

Cool background, sure you will help a lot to build an excellent product 👍

D| Satoshi Club:

So games and NFTS are your main directions?

Bill petridis 🇦🇺 (now also an nft):

No, but it is one of our strengths given the capabilities of the naturally lend themselves to mainstream economic layers of games. We also have a strong focus on Dapps, interoperability, application of our NFT tech to many use cases and tools. This covers everything from the ability for users to mint their own digital assets, wrapping complex, layered assets for privacy and transfer, insurance – I’ll talk to this more. To put it simply, our tag line pretty much sums it up. Phantasma, next-generation blockchain and ecosystem for gaming, NFTS, and Dapps. We connect, you create and control. It’s all about flexibility, cost-effectiveness, and easy to use means for users to leverage our offerings.

Jay:

Considering our NFT standard received a MASSIVE upgrade as late as this December where we upgraded to a whole new NFT standard you could say that yes. NFTs are relevant for both art, games, and half a million other use cases and are gaining more and more attention in this space – as they should. Phantasma Smart NFTS has a whole host of highly advanced features that you will not find in combination on any other platform.

D| Satoshi Club:

Sounds awesome, to be honest, 😊 can’t wait to find more about it 😉

Jay:

Actually, let me dive into some of the exciting features of a Phantasma Smart NFT, it’s something that really deserves to be covered in full – and properly digested 😄

I’ll go through the main features for a Smart NFT, and leave it up to each and everyone to decide its level of awesomeness 😉

Interestingly, our advanced Smart NFT technology is one of the features that has attracted the most interest from other project teams and has given birth to multiple current partnerships as well as a couple that is still under wraps while we establish the scopes of our collaborations.

#1– Multilayered: A Phantasma Smart NFT can be composed of an unlimited number of NFTS. This feature is already in use by our gaming partner goati in their real-time strategy racer 22 Racing Series (www.22series.com), where every single hypercar that you car race at upwards of 1000 kmpl in-game is composed of 20-30 different individual NFT car parts.

Inside the game, the cars can be broken down into their individual parts, mixed, and reassembled into a hypercar NFT again. This is groundbreaking and basically unheard of in the NFT space.

#2-Timed NFTSDuring the gaming convention PAX Australia last autumn our partner goati premiered a world first with their time-limited game licenses – an NFT distributed to the gamer’s wallet which gave full access to their game for the duration of the gaming convention, but no longer.

This opens up the possibility to “try before you buy” without limitations, providing access to music, movies, or other content for a set amount of time (rent a movie for the weekend? Get a 7 day unlimited Netflix access? Timed software licenses?

Jay:

#3– Minting on-demand: On expensive and slow blockchain platforms it’s common for the NFT minting process to take up to a couple of days, and if there’s congestion you’ve got the choice between paying exorbitant fees to get something quickly or wait it out until the chain is calm again.

On Phantasma, developers and artists don’t have to wait, and nobody has to pay insane fees in advance without knowing whether they will even sell their goods.

Instead, the moment a purchase is made by the customer, the NFT is minted instantly at the cost of a fraction of a cent to the developer and delivered straight to the customer’s wallet. This provides a smooth user experience and avoids fleecing developers who just want to create cool stuff.

D| Satoshi Club:

Yes, I actually want to try to create NFT on Ethereum, and place it on open-sea but it’s impossible with these gas fees. I’m almost waiting for 2 weeks now 🤣

Jay:

Ghostmarket.io/mint is your new best friend 😘

D| Satoshi Club:

Thanks! 😁

Jay:

#4 – Nesting and multi infusion of assets: On Phantasma, you can infuse assets inside your NFTS to give them a baseline value, or to create a bundle of things you want to sell for example.

You can infuse 100 SOUL, 50 KCAL, 1 ETH and for fun 2 NEO too into the same NFT if you want, there are no limitations. Not only that, but you can infuse an NFT into an NFT, providing opportunities for treasure chests and tons of other use cases.

Already, we have artists who infuse related artwork NFTS into a single NFT and put them up for sale as a bundle at a discount – like here (note the “infused” section and browse it): 

But being Phantasma, we don’t stop there. That NFT you infused with another NFT? You can infuse that into yet another NFT. Think NFTs infused into NFTs infused into NFTs infused into… You get what I’m saying. Nftception – no limits 😎

One other I have to mention is an artist who recently joined our ecosystem, who has been minting tickets for a live concert bundled with his album and more and infused all of this as separate NFTs into his NFT – have a look here: 

Jay:

#5 – can’t forget this as we’re aiming for another world first here 😄

– Cross-chain NFT swaps: The Phantasma Smart NFT standard is compatible with Erc721 and Erc1155 allowing us to work on cross-chain NFT swaps (will be another world first), which means that artwork, game items, music, etc minted with super low fees on Phantasma can flow over to Ethereum to NFT marketplaces there and Eth Dapps in addition to ETH NFTs flowing the opposite way, paving the way for another level of interoperability.

Of course, whenever you want

Jay:

Bill may want to mention goati here which is a prime example of how game studios find solid platforms and partnerships happen simply because they make a ton of sense for everyone involved

Mary | Satoshi Club:

You’re partners with them almost for two years, right?😉

Jay:

Since kindergarten more or less – I’ll let @bpetridis cover that bit 🤪

Mary | Satoshi Club:

Sure👍 Very cool👍

Bill petridis 🇦🇺 (now also an nft):

Yes, but I’ve also worked on and off with the team behind it as it’s been their pet project for nearly ten years now. I’ve known the lead from that studio for even longer. We are close friends and as above, their need to fill that last remaining part of their dream with 22series.com needed blockchain and especially one that was fast, flexible, cost-effective, and richly featured, especially in the NFT area. In collaboration, we’ve also launched a one stop shop gaming hub that functions like Steam (it even interacts with Steam – www.pavillionhub.com) and allows users to connect their wallets so they have a single entry point to both their blockchain and regular games. I Will get into detail there are a bit later.

Mary | Satoshi Club:

Oh, it’s really nice to have such friends 👏

Bill petridis 🇦🇺 (now also an nft):

Very handy indeed. What they’ve managed to do IMO is second to none in the blockchain space – also my cat enjoys it. 

https://youtu.be/a68zCe1H-oQ

Bill petridis 🇦🇺 (now also an nft):

I have quite a fun video of him sitting on my gaming room floor putting me to shame. Guess I can share that later 😊

Jay:

To sum up, the awesomeness, lest it drowns in words 😉

Mary | Satoshi Club:

Perfect visualization 👍

D| Satoshi Club:

And awesome variety

Jay:

Oh, and with regards to goati and their work that Bill has been mentioned – one hyper-relevant thing today is that it’s the last day of the last auction in the first chapter of the partnership between Travala and goati – getting your hands on this car will earn you the right to race the founders of Travala for some awesome prizes – just another example of the cool  synergies that can be achieved when good people find each other in this space 💪💪

Less than 12 hours to go until the @travalacom sale period ends 😲

Last chance to pick up an #NFT vehicle that'll give you access to the #prized #esports tournaments.#Vehicles can be discovered in limited edition part packs, or in the final #Auction 🧐https://t.co/M56xWTkxyT pic.twitter.com/WrSmGAmpJN

— Pavillion (@Pavillionhub) January 22, 2021

Mary | Satoshi Club:

Oh, I saw this twit today👍

Jay:

I kind of get carried away talking about Phantasma these days – we’re in the process of opening the floodgates and have so much to show the world 😂

Mary | Satoshi Club:

I see that you achieved a lot! And I am sure it’s just the beginning 🚀

D| Satoshi Club:

Thank you guys for this really impressive intro! 👏 are you ready to begin the first part of our AMA? 😄

Jay:

Fire away, uncle Bill’s old fingers will keep tapping away at that keyboard 😄

Preselected questions about the Phantasma chain project.

D| Satoshi Club:

Q1 from Telegram user @Arisabela

The Phantasma app aims to be advanced but at the same time, a user-friendly solution to people connect their daily used apps with blockchain, when you say user-friendly it means it is a good option for beginners? Do you use any type of guidelines for inexperienced users?

Jay:

I’ll take that one 👌

Hi there @Arisabela, thanks for asking!

At Phantasma we like to say that mainstream adoption begins when grandma can use blockchain Dapplications in her everyday life without even knowing it. That is why we focus a lot of energy on user-friendliness, making sure Phantasma’s advanced features are accessible to even those who are just starting out exploring this technology.

As an example, our Poltergeist wallet has simplified seamless cross-chain swapping technology across three separate blockchains to a simple “button click procedure”. The same applies to staking, creating your own NFT artwork on ghostmarket.io/mint, our oracles work silently in the background and the users simply see that “Oh wow, this works – and it works WELL!”

Similarly, at the risk of repeating myself, game studio goati who have created www.pavillionhub.com, the blockchain-powered and Steam connected game hub on Phantasma, have done so with minimal friction / no stress Steam like user experience in mind, only with all the added features and advantages that blockchain technology can bring to gaming.

Of course, we recognize that there are still obstacles to mainstream blockchain adoption, but we’re on the right path and hellbent on removing them, grandma will go on-chain 😄👌

Mary | Satoshi Club:

Yes, I downloaded Poltergeist today😂 it’s so cute

Jay:

I like you already! 🤗

Make sure you join the NFT giveaways on Twitter https://twitter.com/phantasmachain – and send me a DM afterward if you need a little KCAL to test the self minting service, Unmint  👌

Https://twitter.com/phantasmachain

Mary | Satoshi Club:

Still didn’t, but I will✅ thank you😂

 

Bill petridis 🇦🇺 (now also an nft):

Thanks for that feedback 😊 we’ve purposely kept it minimalistic as the UI is meant to emulate an almost gaming like user experience.

Mary | Satoshi Club:

But, guys, I need to say that I am still not sure about grandma😂 but the industry really made great steps in the mass adoption direction! And Phantasma helps us!

Jay:

Grandma ain’t here yet, but she’s coming – we’ll make sure of it💪

Mary | Satoshi Club:

Be sure, when I will be grandma 😂 I will use it) actually, I already start👍

Thank you, guts for your answers! We have some more questions in this part! Should we proceed?

Bill petridis 🇦🇺 (now also an nft):

Go go 😊

D| Satoshi Club:

I think your project is a perfect point to start for beginners. It will be much easier for them to dive in cryptoworld with Phantasma 👌

Jay:

That’s kind of the whole point of Phantasma – you’re not supposed to need a PHD in Geekiness to get involved!

Joseph Colón:

Mainstream adoption will come when the end-user does not even have to think about what is running in the backend. We all use the internet and apps daily, but we don’t think what tech is in the backend. All we know is that it works. This is the same with Phantasma, it just works and the team is doing their best to make the user experience as good and easy as possible for anyone.

Jay:

Fire 🚀

D| Satoshi Club:

Absolutely agree!

Q2 from Telegram user @yellowchamp

One of the Phantasma core features is having a dual token system which is the $SOUL and $KCAL. So with these two tokens, what advantages did it brings to the Phantasma ecosystem? Any reason for having two tokens for Phantasma? What are the uses and governance of these two tokens in your platform? Did this token is dependent on each other? Thank you

Mary | Satoshi Club:

Yes, it’s a question I was waiting for😉

Jay:

Ohoh, I’m a tokenomics and use case nerd, i’ll have a go 😃

Haha, this is actually a huge question @yellowchamp which deserves an answer in several parts. One of the major advantages is having a dual token system is that we can enable token holders to actually use the ecosystem without continuously burning their own token holdings.

In addition, if you compare to the unfortunate fee situation on Ethereum with its massive spikes, having a dedicated fuel token generated by staking the governance token allows us to ensure that transaction costs stay super affordable even during high traffic scenarios. Now, let’s have a look at the separate use cases of SOUL and KCAL first:

Jay:

SOUL is the governance token of the Phantasma blockchain, and the evolution of Phantasma is driven by the SOUL holders. There are multiple benefits awarded to SOUL holders:

– Staking SOUL generates the fuel token KCAL and enables you to claim your Phantasma name on the chain so that Bill can send funds to Rob instead of p2kjme8w1…Ju4D4nWmm. Stake 50k SOUL to earn the title of Soul Master and get an equal share of the 125k monthly SOUL dedicated to Soul Masters. We also introduced CROWN nfts last month and backdated their distribution. These are allocated to anyone that has been a SOUL Master for three months and having a CROWN in your wallet increases your ability to generate KCAL by 5%.

– Your decentralized Phantasma storage allocation, served by the block producers, is also proportional to and growing with your stake. SOUL enables you to securely store your most precious files – encrypted, of course.

– SOUL sustains the entire ecosystem through its low 3% annual inflation with 2/3 allocated to block producers and 1/3 allocated to the decentralized Phantom Force.

– All of this is geared towards less SOUL in circulation and an emphasis on long term token holder retention. We pride ourselves on holders using the chain rather than flipping their tokens for gains as that somewhat defeats the purpose of being a blockchain solution provider.

Bill petridis 🇦🇺 (now also an NFT):

Yes, I was going to chime in on that, it allows us the flexibility to keep our fees forever low. GWEI cost these days is a big sticking point for many that use ETH, myself included. I love ETH, we spent months building the swapping, just unfortunate about the fees, so we have structured ourselves to avoid that.

Jay:

KCAL fuels everything in the Phantasma ecosystem and is needed for every single type of transaction on the blockchain, giving it a wide range of use cases.

– From simple transactions to staking, minting your own nfts or claiming KCAL itself, everything requires a minor fee – payable in KCAL and nothing else.

– Developers deploying smart contracts and new tokens pay their fees in KCAL exclusively.

– To generate KCAL it’s necessary to stake SOUL. For each SOUL you stake, you generate 0,002 KCAL every single day – for a 1,000 SOUL stake, that’s 2 KCAL free every day, enough to cover all normal transaction types for the average user in perpetuity.

– Deflationary measures guard the KCAL token economy, with half the KCAL fee of every type of transaction being burned instantly – keeping inflation under control and providing balance to supply and demand.

– Even Dapp developers are contributing, with ghostmarket burning half their earned KCAL fees, further driving a downwards pressure on the KCAL supply.

Jay:

So basically we don’t create tokens to yield farm something worthless and mint in infinity (cough cough). We have a token system where each of our two tokens has a massive suite of use cases that’s being continually expanded. We created them both because we actually need them and want to see them flowing across the ecosystem through our Dapps and marketplaces 👌

Mary | Satoshi Club:

Yes, I tried some functions in my wallet, and they requested me to own SOUL as I remember 😀

Jay:

I’ll send you a couple – we need the ‘Mary’ Phantasma on-chain wallet name locked down 😃

Mary | Satoshi Club:

Oh, thank you 😂

 

D| Satoshi Club:

“- To generate KCAL it’s necessary to stake SOUL. For each SOUL you stake, you generate 0,002 KCAL every single day – for a 1,000 SOUL stake, that’s 2 KCAL free every day, enough to cover all normal transaction types for the average user in perpetuity.” this model reminds me a NEO model a bit, with their Neo Gas token.

Jay:

Yes, it has some similarities with the NEO:GAS relationship, it’s probably the easiest ‘intro’ for those not familiar with Phantasma to think of it as a similar relationship.

Bill petridis 🇦🇺 (now also an nft):

Also has a lot of similarities with the EOS structure in that regard.

Mary | Satoshi Club:

Btw, are both tokens listed on exchanges?

Jay:

Indeed they are – SOUL’s primary liquidity is found on Kucoin (www.kucoin.com) with its BTC and ETH pairs, it’s also listed on Uniswap, slippage would be greater there. We’re in the process of implementing a pretty darn cool and innovative liquidity incentivization for Uniswap with a nifty cross-chain element to it, watch that space 😄

As for KCAL it’s on Uniswap in its ERC20 form with decent liquidity – head over and have a look: https://uniswap.info/pair/0x57db2a0d2231fe522ed5d1cb40458ac152b41e01

Mary | Satoshi Club:

Wow, interesting structure 😀

It seems easier to get SOUL then KCAL with gas fees nowadays 😂

Jay:

Actually, it’s easy to get both – you get SOUL and then you stake it – voila you have KCAL every day 😄

Mary | Satoshi Club:

I think most users are familiar with ETH, but for sure we also have EOS users here😀

That is what i mean😉 Thanks, guys for these informative answers! Everything seems easy and clear!

Ready for the next question?

Bill petridis 🇦🇺 (now also an nft):

Sure thing

D| Satoshi Club:

Let’s go! 🚀🚀🚀

Q3 from Telegram user @Wormz28

A few days ago, Phantasma proudly announced a strategic partnership with DeFi insurance provider polka cover, and polka covers platform aims to offer a frictionless insurance marketplace building on Polkadot. So what is the purpose of this partnership? Is this also your way or your bridge to open your ecosystem to Polkadot Dapps and users? Lastly, what are the innovative new products the Phantasma and polka cover will build around the NFT marketplace?

Jay:

It’s an interesting point though. Phantasma has tri chain interoperability, we have perpetual bidirectional 1:1 swaps between NEO, Phantasma, and Ethereum. NEO and GAS along with SOUL can flow between NEO and Phantasma, and ETH, SOUL, and KCAL can flow between Phantasma and Ethereum. Later we’ll add more tokens including stablecoins, this is technically trivial as we have all the cross-chain architecture in place already.

What every single Eth user who buys Our ERC20s on Uniswap and moves them over to Phantasma complains about is gas fees – and how much faster, cheaper and smoother it is when the assets come back home to our mainnet 🤠

And on a related note, it’s actually possible to make crazy cheap transactions with Eth – around $0,00005 per transaction. You just swap your ETH from Ethereum to the Phantasma mainnet native ETH first 🤓👍

Mary | Satoshi Club:

I should try it myself 👍 i like such things!

D| Satoshi Club:

On Ethereum we should pay for every move😄

Jay:

Bleed till you’re dry 😅

Of course, that is a metric to show that Etehereum sees a lot of use, and that is a good thing both for Ethereum and for the space as a whole, so one should not purely see it as a negative thing

However, there is no way on earth you will have the average gamer for example pay $5-$50 every time he wants to move his in-game asset to another wallet – or to receive it at all – just as an example

Bill petridis 🇦🇺 (now also an nft):

I jumped the gun on this earlier from reading and writing about it in the last 20 minutes, mainly because I’m very hands-on with that partnership and it’s one I am very motivated by 😊 as it also adds to our services and further interoperability with the Dot ecosystem. The partnership objectives are to provide joint insurance offerings for areas of concern like impermanent loss. For example, say I infuse 10 ETH into an NFT so that the NFT is considered a share or security (yes that’s something we are doing also, just not with polka-cover) then ETH has a massive crash while it’s up on the marketplace or locked in a contract. You are kinda stuck, if you burn the NFT to retrieve your tokens you’ll have a nasty case of impermanent loss on your hands. The objective of this partnership is to package NFT based insurance offering for protection against such loss with revenue sharing across both parties. We also intend it to further grow our already growing connections to the Dot Ecosystem. Their relay and Parachains are very much like our native side chains so we see a lot of synergies and wish to explore that to it’s full potential. More reading below. Also want to emphasize that It’s a very collaborative, active and solution focused partnership, a lot more than the average handshake/article 😊 https://medium.com/phantasticphantasma/polkacover-x-phantasma-af411423bdff

I feel strongly about providing coverage for our growing userbase. Feel it will allay any concerns users might add when minting valuable digital assets, or purchasing allocations of offerings on our chain and/or transporting them over to another chain and further assist with adoption.

Mary | Satoshi Club:

Is this insurance already working?

Bill petridis 🇦🇺 (now also an nft):

We have all the technical ingredients to offer it, so it’s now a matter of finalising the financial structure of it all, upfront and ongoing updates to risk profiles for insurance underwriters. Said underwriters have already been locked in, will have full transparency and will continue to adjust their coverage of the coverage as the NFT space matures.

Mary | Satoshi Club:

Thank you! We all are waiting for this!🚀

Bill petridis 🇦🇺 (now also an nft):

Strongly believe it’s something that is sorely needed, especially as mainstream use and legitimacy of crypto grows.

Mary | Satoshi Club:

It’s extremely needed 😉 Ready to proceed with the next question?😀

Jay:

Gogo

D| Satoshi Club:

Q4 from Telegram user @borysfireball

We say that everything is learned in comparison. So I compared Phantasma to WAX. You had approximately the same starting positions: WAX ICO (17/11, $ 9.6mln), Phantasma ICO (18/05, $ 9.65mln), NFT oriented, according to ICO Drops data. Today, for example, the atomic market (WAX) is ranked # 1 in the marketplace according to dappradar.com data (5.31k users, 273.68k volume weekly). Sadly, but I can’t find Ghostmarket data on this popular resource. Could you show us user statistics and tell us about the current state of affairs. Thank you.

Jay:

Hi there @borysfireball!

Comparing projects with each other is a popular exercise in crypto that has both its strengths and its pitfalls. First of all, you need to have metrics available that enable such a comparison. On that note, Ghostmarket launched in late December 2020 which means it has only been live for a single month. During that short amount of time, we’ve seen some solid launch stats!

– 6000+ NFTS minted

– 100000+ $KCAL burned (50% of the mint fees), close to 2k USD

– 26k USD trading volume

…and a ton of updates, and way more to come very shortly, with NFT auctions coming up!

We’re listed in the NFT category on CMC, coingecko, and will be listed on staking rewards. We are principally opposed to paying to have information published which the publishers also derive income from.

Some sites do charge more than a pretty penny to integrate project data, and those we’ll consider at a later point in time when they come to us asking to integrate Phantasma instead of the opposite 😃

For current Ghostmarket stats have a look at https://ghostmarket.io/statistics/ – multiple new artists have been onboarding weekly, and we’re seeing a type of organic and aggressive growth that makes us proud and confident in the path we’re on! 🚀

Mary | Satoshi Club:

Dapp radar is charging a payment for listing?🧐

Jay:

Got to ask dappradar about details there 😃

Mary | Satoshi Club:

Got it😂

D| Satoshi Club:

Great! You just at the beginning of your journey! I want to be  an early adopter then😄

Mary | Satoshi Club:

Been an early adopter always brings good harvest😉

Jay:

Suffice to say there are a lot of services in this space that are pay-to-play, which provides an unnecessary obstacle for new people to get a proper and unbiased overview of what this space has to offer

Not an issue for Phantasma though, we’ve been approached from all directions for some time now and are building those proper business partnerships 😉

Mary | Satoshi Club:

Actually, I was working on one blockchain project before and I know what are you talking about 😂 Prices were awesome 🤣

So, guys, I am sure that you will have a lot of users soon! Also, I am sure that our Satoshiclubbers will join Phantasma 🚀🚀🚀

Joseph Colón:

All are more than welcome and the Phantasma community is very open and friendly, eager to help everybody who has a question.

Mary | Satoshi Club:

Ready for the next question?😉

Joseph Colón:

Shoot 😉

D| Satoshi Club:

Q5 from Telegram user @Brainchest

I am interested in the process of creating an NFT. A car or other complex mechanism that has several different characteristics. In Decentraland, Sandbox there is a special program for Voxel construction, but how can I make such a three-dimensional object on Phantasma and how much will it cost me to create such NFTS?

Joseph Colón:

Hi @Brainchest

Thank you for your question!

Ghostmarket just recently launched their umint NFT Factory which allows anyone to easily mint their own NFTS for as low as $0.20. This fee includes the platform fee, network fee as well as the fee to list the NFT on the marketplace itself. So as you can tell, it is very cheap and accessible to use for anyone who is interested in minting their own NFTS.

On Phantasma you can also spin up your own contract to mint NFTS on if you are interested in creating your own art collection and $BRAIN token for example. This can also be used for your own projects, such as a Dapp or game, or just to simply have all your NFTS under your own branded token.

As for a special program to create your art, it is up to you how you want to create your art. You can create something using Photoshop, Blender, Canva, or any other tool that artists normally use. Even photography or actual physical paintings can be minted as NFTS, so the sky is the limit. Ghostmarket allows you to easily upload this artwork to the platform to mint NFTS and sell on the marketplace. It also has a “Locked Content” part where you can add a link to a private Google drive or dropbox where the owner of that NFT only can unlock access. You can place the original files there that are very large in size for example, or just unique things that you want to provide the owner of the NFT as a bonus.

Phantasma NFTS has the most advanced NFT tech in the crypto industry, so as far as creating complex mechanisms in the NFT itself, you have a lot of options that just are not possible on Ethereum or other chains that offer nfts.

Http://www.ghostmarket.io/mint

Mary | Satoshi Club:

We can find this umint NFT Factory on Phantasma website?

Joseph Colón:

Www.ghostmarket.io/mint

Apologies, forgot to include the link 😉

Mary | Satoshi Club:

Everything seems easy, so, i am waiting for @Brainchest  NFT🤣

Thank you, guys!

And are you ready for the 6th and last question from this part?😉

Bill petridis 🇦🇺 (now also an nft):

Yes 😊

Joseph Colón:

In order to mint, you would only need to connect your Phantasma wallet to Ghostmarket. Get your wallet here: https://phantasma.io/wallets

Poltergeist is a desktop and mobile wallet.

Ecto is a browser extension wallet like Metamask

Mary | Satoshi Club:

Perfect 👏

D| Satoshi Club:

Q6 from Telegram user @konditer_rolex

 It is very interesting, therefore, your wallet is called Poltergeist, what functions have you provided, and how different are the capabilities of a mobile wallet from a desktop one?

We already talked about your wallet today, but I sure you have something to add 😊

Bill petridis 🇦🇺 (now also an nft):

Hi  @konditer_rolex,

The key difference is that it provides an easier user experience with one click buys on a desktop when using online stores that offer Phantasma payments – here is an example https://www.pavillionhub.com/app/#/store. We achieve this with the Phantasma link and it’s somewhat easier to import your wallet into ghost market and Pavillion on a desktop. Otherwise, it’s the same product as it’s containerized in Unity. As Joseph said earlier, we also have a very powerful and user-friendly Chrome browser add-in that functions like Metamask called Ecto. As above all information is here, downloads, tutorials, the works. Www.phantasma.io/wallets

Also, a good video to see Poltergeist and Phantasma link in action on a desktop can be found here: https://youtu.be/pg6l6mlocdw

Mary | Satoshi Club:

All guides are ready🚀 great job👍 Btw, does it have only an English interface?

Bill petridis 🇦🇺 (now also an nft):

Ecto is already going multilingual, we’ve built German support and are rapidly adding other languages. We are focusing on that first.

Jay:

Poltergeist yes, Ecto is in the process of getting support for 9 or 10 different languages, and Ecto is perfect for everyone who is familiar with Metamask from Ethereum 👌

Bill petridis 🇦🇺 (now also an nft):

Lol – I just did a repeater 😊

Mary | Satoshi Club:

Gotcha 😀

Joseph Colón:

The team is working on adding more. I believe for Ecto they are working on German, Chinese, Dutch, Italian, Turkish, Vietnamese, Japanese, and probably more that I don’t know about :p

Mary | Satoshi Club:

Don’t worry, guys, we have the same with @Cool_as_Ice 🤣

D| Satoshi Club:

Haha it happens sometimes

Mary | Satoshi Club:

Thanks! Sure, you will add as much as possible soon!

|D Satoshi Club:

Thank you guys for amazing answers in this part! Ready for part 2?

Bill petridis 🇦🇺 (now also an nft):

More this, Ecto’s support of multi-byte character sets makes it very flexible. We just need more translators, if anyone is interested please hit us up on our channel 😊

Mary | Satoshi Club:

Oh, you will find translation support, I am sure 👍

Mary | Satoshi Club:

So, live part, guys?😉🚀 Because I can talk with you more and more, but I know our users are waiting for their questions 🚀

Joseph Colón:

Sounds good 😀

Mary | Satoshi Club:

Let’s go 🚀

Revoltoso:

Sure. Let’s do it.

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

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

Q – 1 from a telegram user @cryptovgh

Although POLKACOVER is a partner on PHANSTASMA, we cannot see POLKADOT as a PHANSTASMA’s ecosystem. Why haven’t your ecosystem will supports on POLKADOT? Do you have any future plans to work on the POLKADOT blockchain also?

Bill Petridis 🇦🇺 (Now also an NFT):

The parachain these products are offered from are the very thing we are integrating as part of this partnership, we are also doing similar work with Bondly so that we can offer these solutions as NFTs, we can support any token we like and swapping/NFT infusion makes this all quite a lot easier to deliver.

Q – 2 from a telegram user @cryptovgh

What is meant as PHANTOM FORCE? Is it only your project team or can we join with PHANTOM FORCE? Explain a little bit about PHANTOM FORCE? 

Bill Petridis 🇦🇺 (Now also an NFT):

It’s an open-source, Phantasma funded group of developers and development teams. This is how we’ve been able to grow significantly over the last year in terms of our offerings. Always better to have multiple streams of decoupled work happening all at once.

Q – 3 from a telegram user @lzamg

Three of the use cases of Phantasma are eCommerce, Social and Media. Nowadays is hard for everyone to start a profitable business from scratch. So if I want to start my own business and combine the three previously mentioned features of Phantasma, is it possible to build a successful business? Do you encourage small entrepreneurs to consider the possibilities that Phantasma offers for their businesses?

Bill Petridis 🇦🇺 (Now also an NFT):

I do purely on the basis that it’s cheap, highly flexible, and very user friendly. You won’t go broke trying on our solution suite.

Q – 4 from a telegram user @Amila19932

SOUL Token can be staked according to your website, But I could not find more details on SOUL staking, Could you please explain about SOUL staking? How much of SOUL will be needed as the minimum amount and what will be the rewards?

Bill Petridis 🇦🇺 (Now also an NFT):

You need 2 or more SOUL. Rewards are a combination of KCAL and SOUL if you become a SOUL master which also makes you eligible for a block producer spot. All the current statistics are here: www.ghostdevs.com

Q – 5 from a telegram user @Beterror203

Hello, @bpetridis @Joeslanet Music undoubtedly moves the world but now with the pandemic these events are suspended in many countries the artist who made world tours no longer does them until this problem is solved as Phantasma with SOULChallenge leads or offers a solution to this problem to new artists who They were affected by this, what solution do they have to motivate the artist to move on despite these problems that undoubtedly affected the planet?

Joseph Colón:

Thanks for your question.

You are correct that the pandemic has caused a lot of stress for musicians, especially those who rely on live venue performances. Even before the pandemic though, musicians have been facing issues with DSP’s (aka Streaming Music services) that are not providing good benefits for the musicians. Their songs can be played thousands of times and in the end only earn cents. This is not good for the musicians at all who sometimes struggle to make a living off their musical art.

This is why Phantasma started the #SOULchallenge which is an effort to get musicians to start minting their music as NFTs. This will allow them to get 100% of the profits from selling their music to fans, and they can also set a percentage royalty on further sales of that NFT.

NFTs are a powerful tool that allows musicians to finally take back control of their music, and they can incentive fans to purchase the master quality files that are not available on streaming services. I recommend everyone to check out this video made by HouseOfNFT who is a musician himself. He is leading the SOUL challenge to get other musicians to use the GhostMarket platform to mint their own music NFTS.

Q – 6 from a telegram user @Jolly64

Because of the large-scale theft in cryptocurrency today we need to know about these details do you have any investors? Is there any public or private sales?

Bill Petridis 🇦🇺 (Now also an NFT):

There was an ICO, 3 years ago, since then we’ve been extremely successful at managing our funds, and between revenue from our working dApps and partners, along with mild annual inflation pegged at 3% per annum we are set to keep going indefinitely. We are self-sufficient now.

Q – 7 from a telegram user @Jolly64

What is the advantage of SOUL being backed by energy token KCAL in the interoperability area and what solutions are implemented in the field of scalability?

Bill Petridis 🇦🇺 (Now also an NFT):

I think Jay covered it earlier, it’s a combination of speed and the ability for us to keep our fees low.

Q – 8 from a telegram user @KhaleesiTheCryptoLady

Do you have in-game cards, and also do you have a plan to add up more assets like skins, characters, and equipment to your platform? In your point of view, how may blockchain technology influence the gaming world?

Joseph Colón:

Hi Khaleesi!

Thanks for your question.

The game that me and my team are working on is in fact a trading card game. It’s a roleplaying game like Magic The Gathering mixed with Dungeons and dragons. NFTs allow you to create any type of game assets which can be skins, characters, equipment or weapons… the list goes on. Since Phantasma has advanced NFT technology, this means that game developers can leverage the technology to create even cooler types of game assets using NFTs.

I personally believe that NFTs are going to be the standard for game items and assets in the future. We are just at the beginning here, and as NFTs become more popular, and more game developers start providing true ownership of game items to the players, we will see huge growth and mass adoption of blockchain technology.

Bill Petridis 🇦🇺 (Now also an NFT):

We have both. One very cool one is this, which is a deck of cards that are an NFT that performs a roll of the dice when unlocked to provide 5 vehicle parts packs that are also NFTs and a chance to also unlock a vehicle. We also have Blood Rune coming which is a hybrid blockchain/online/physical cardboard game in the pipeline. https://www.22series.com/part_info?part=33554436

Q – 9 from a telegram user @wonderkit

How is the Phantasma NFT made and can it only be purchased in the Phantasma or Opensea
platform market or is there another way to own a Phantasma NFT?

Joseph Colón:

Currently, we have www.ghostmarket.io where you can mint Phantasma NFTs. You can also create NFTs outside of the platform on a chain level, if you want to deploy your own contract.

OpenSea is an Ethereum marketplace, but Phantasma is working on cross-chain NFT swap technology so will soon be able to swap your Phantasma NFTs to Ethereum to list them on Opensea, or the other way around of course, where ETH NFTs can be swapped to Phantasma to utilize the fast network and cheap fees.

Q -10 from a telegram user @Xusuo

I read from your gaming partner GOATi that they already use your new feature ‘Phantasma Smart NFT in GOATi real-time strategy racer 22 racing series. Can you tell us what new feature is this like? How does it work?

Revoltoso:

Hey Icy, thanks for your question. GOATi and Phantasma have a strong partnership that help them both evolve. GOATi developed one of the first AAA video blockchain-based video game called 22 Racing Series. Before starting implementing the blockchain technology into their game, they’ve looked into many blockchain solution, but none was offering them the optimal technology for what they were trying to do. Thankfully they found Phantasma which offers Smart NFTs for game developers, artists, musicians or anyone who wants to tokenize something. For 22 Racing Series they are mostly using Mint On-Demand and Multi-Layer NFTs. Because Jay explained both concepts, I’ll make a short description for both. Mint On-Demand means that game developers don’t need to create the NFTs in advance paying fees for NFTs that might not sell. So every time someone buys an NFT, that NFT is created instantly at the time of buying. They already sold almost 300,000 NFTs. They couldn’t anticipate this massive amount of NFTs that got created so this saved them a lot of time and money. The Multi-Layer NFT is a beautiful concept integrate perfectly into 22 Racing Series (check the picture below). It means a 22 RS hypercar is build from multiple smaller NFTs (25 NFT /car). This NFTs put together will form the car, but you can also disassemble the vehicle and have every vehicle part separately which you can sell on the marketplace. You can also buy from the marketplace different vehicle parts and build your own and unique hypercar.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Phantasma chain project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 600$ 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: Phantasma chain

Telegram group  |  Discord |  Tweeter  |  Website  |  Medium  

Nos complace anunciar nuestro próximo AMA el 30 de enero de 2021 a las 09:00 PM UTC: Satoshi Club Spanish x VELAS

⚠️Click to see the hour
⚠️Premios totales: 100$ en VLX

⚠️Requisitos:
👉 Sigue a Satoshi Club Telegram group
👉 Únete a la comunidad VELAS
👉 Sigue a VELAS

Seguiremos la siguiente estructura:

Parte 1: 50$ /5 users – Seleccionaremos 5 preguntas de la comunidad. Cada usuario puede publicar un máximo de 3 preguntas. Se seleccionarán 5 preguntas de nuestro sitio web; envíe sus preguntas en la sección de comentarios de esta publicación.

Parte 2: 50$/5 users –Abriremos el chat durante 2 minutos. Podrás publicar un máximo de 3 preguntas. El equipo de Velas seleccionará 5 de ellas y las responderá.

Para más detalles:
VELAS Spanish – @ComunidadVelasEspanol
VELAS English – @velascommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Hello, Satoshi clubbers and guests of this site. Today we will talk about the Fire Protocol project.
Fire Protocol is like the combination of Uniswap plus Compound with better performance thanks to HECO(Huobi Eco Chain) — low gas fee, high speed, and security.
The AMA took place on January 22 and our guests were Danny – CEO of Fire Protocol.

The total reward pool was 600$ and has been split into 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

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Fire Protocol! Welcome to Satoshi Club😀

D. | Satoshi Club:
Hi! 😁 welcome to Satoshi club!

Danny:
Hey guys!

Danny:
Let’s do it!

Mary | Satoshi Club:
@FireprotocolCEO welcome to Satoshi Club 😀

Danny:
Hey girl 🙂

Danny:
Hey, community!

Mary | Satoshi Club:
Please, introduce yourself and tell us more about Fire Protocol and it’s concept 🚀

Danny:
You can @me pls girl

Danny:
Thanks!

Danny:
Yes. I’m Danny, CEO of Fire Protocol.

Danny:
A MBA graduate from Strathclyde Business School in the UK, and an experienced professional in FinTech, eCommerce, and Blockchain.

Danny:
Fire Protocol is like the combination of Uniswap plus Compound with better performance thanks to HECO — low gas fee, high speed, and security.

D. | Satoshi Club:
Cool concept!

D. | Satoshi Club:
What is HECO?

Danny:
Huobi Eco Chain.

Danny:
AKA Huobi Smart Chain.

Danny:
Like Binance chain — but the other exchange lah.

D. | Satoshi Club:
Haha got it!

Danny:
Fire Protocol is the first infrastructure to Huobi (Smart) Eco Chain (HECO), the first batch member of developers invited to test HECO (an Ethereum compatible Public Chain for Blockchain Developers).

Danny:
*done @madamlobster

D. | Satoshi Club:
Thank you for the intro! Awesome!

D. | Satoshi Club:
Unfortunately, @madamlobster lost her internet connection, but she will be back asap.

Mary | Satoshi Club:
Thanks! Really awesome intro🚀

D. | Satoshi Club:
There she is!

Mary | Satoshi Club:
Yes, I am here now!

Danny:
*next?

Danny:
Q

Danny:
1

D. | Satoshi Club:
Sure! 😄 let’s start the first part of our AMA!

Mary | Satoshi Club:
Oh, sure, we have questions!

Q1 from Telegram user @JesusFre1tes
What is the Cross-Chain Solution that Fire Protocol has developed to support hundreds of digital assets from various chains through its Cross-Chain Center and bring assets into the Huobi ecosystem? What are the main advantages that Houbi Eco Chain brings to this model to avoid delaying operations and slippage between chains?

Danny:
Hey mate.

Danny:
That’s like 4 questions in 1.

Danny:
I will answer one.

Danny:
Main advantages from HECO you can read here https://www.hecochain.com/ It’s fast secure and Ethereum developer-friendly….

Danny:
The DEX component of Fire Protocol – FireSwap provides the cross-chain assets wrapping bridge for HECO and supports the exchange of multiple assets from variable chains. This process is realized by the cross-chain mechanisms, which are the wrapped H-Assets: all series of Huobi Smart Chain assets, for example, HBTC, HUSD, HT, etc.

Danny:
FireSwap is committed to supporting other blockchain systems, including Tron, Polkadot, and more.

Danny:
*done D.

Mary | Satoshi Club:
Don’t you think that its disadvantage is that it is a brand connected?

D. | Satoshi Club:
I tried to connect to your exchange with my metamask and this is what I get as a result. do you have a guide on how people can set up everything to use your app?

Danny:
Yes – there is a guide on our Medium –

Danny:
Your metamask is probably on Ethereum.

D. | Satoshi Club:
Yes.

Danny:
Q2?

D. | Satoshi Club:
Sure!

Q2 from Telegram user @Highpee
Huobi (Smart) Eco Chain (HECO) testnet was rolled out on 10th December 2020 and you were the first set of projects to launch a full project on this chain. What attracted you to this chain or did you just want to help to promote it just because Houbi invited you? Since It’s Not Good To Play With Fire, isn’t it risky to launch a full Defi project on a newly developed chain which is barely a month in the Defi space? Have you made a calculated risk assessment of this chain to be sure that your Defi features such as staking, DEX, lending, borrowing, and other project attributes can run smoothly without any hiccups and investors will not be exposed to unpleasant experience?

Danny:
https://medium.com/fireprotocol

Mary | Satoshi Club:
Thanks for sharing 😀

D. | Satoshi Club:
Thanks!

Danny:
We had developers with experience on HECO! ANd we developed early on the testnet since Oct/Nov.

Danny:
Having the chance to become the first project on a new chain of course we take it.

Danny:
We finished several audits – for your security question within the main question….

Danny:
SlowMist – recommended by Huobi passed us!

D. | Satoshi Club:
Solid company

Mary | Satoshi Club:
Great! Can you share results with us? Did they find something critical?

Danny:
Our Fireswap DEX is live, our Lending Protocol is live, our cross-chain for Ethereum assets is live – and we announced our new roadmap just today…. https://t.me/fireprotocol_ann

Danny:
Nope all passed.

Danny:
Q3.

Mary | Satoshi Club:
That’s great 👍

D. | Satoshi Club:
Satoshi Club don’t forget to join 💪

Q3 from Telegram user @Korryl
Recently Fire Protocol already do huge development in Partnership. You already partnered with Mahadao, Unilend, Ferrum Network, Stafi, Orion Protocol, the last is Elrond. What main goal is Fire Protocol project want to reach with all of your partners? Do you have a plan to add more partners in the future?

Danny:
Mahadao, Unilend, Ferrum Network, Stafi, Orion Protocol, the last is Elrond and Ramp… and more coming lol.

Mary | Satoshi Club:
Wow👏

Danny:
Most of the partners will use our infrastructure to onboard assets to Heco…

D. | Satoshi Club:
We had AMA with most of them. nice guys👌

Danny:
Some we will have deeper development eg cross-chain lending or collaborative staking.

Mary | Satoshi Club:
Who is the next?😀 Any hints?

Danny:
The goal of course COLLABORATIVE not COMPETITIVE – expand all our ecosystems.

Danny:
Hmmm starts with a C.

Danny:
Or other ends with a y

Danny:
Another is blue.

Danny:
Hahahahha.

Danny, [22.01.:
Q4 people.

Mary | Satoshi Club:
Now, we have food for our minds😂

D. | Satoshi Club:
Thank you! Q4 next!

Q4 from Telegram user @lzamg
I notice that you have a button on your website that says “Apply for listing on FireSwap”. What are the requirements to list a token on your DEX? Can you tell us what would be the process of listing?

Danny:
The requirements to list a token on your DEX.

Danny:
Hmmm…..

Danny:
1) must be a cool project.

Danny:
2) no ano team.

Danny:
3) must serve the community – not themselves.

Danny:
4) Must have cool meme’s lol.

D. | Satoshi Club:
I like these requirements 😄👍

Danny:
The process is simple – there is a link – fill a form – we evaluate and decide. We have a call and explore and due to diliguence – then potential list.

Danny:
5) Must provide its own liquidity.

Danny:
6) Must have a reward program —- so community gets something in return for loyalty.

Danny:
Q5 mate.

Mary | Satoshi Club:
Amazing requirements 😂

D. | Satoshi Club:
Thank you for your answer!

Q5 from Telegram user @Xusuo
I saw Fire Protocol video on Youtube that created by famous YouTuber Ivanontech, is this part of your marketing program? did you have a program for the community that still ongoing right now? Maybe ambassador program, airdrop, or bounty?

Danny:
Yes, we partnered with some influencers to spread the word of our product.

Danny:
We are working on a bounty-like program at the moment – Charlie is doing this….

Danny:
For the community, we have currently a staking reward program and an upcoming liquidity mining program to earn juicy rewards.

Mary | Satoshi Club:
Ivan is awesome, his “respect the pump” lately already become a mem😂

Danny:
*next dear

D. | Satoshi Club:
The last question from part 1!

Q6 from Telegram user @AmirJosh
NFT’s popularity is continuously rising and many are expecting that 2021 will be the year for NFTs. Do you have plans to add services that will bring NFT enthusiasts on Fire Protocol?

Danny:
No.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @TrostMangidiaan
What did you do before crypto, how did you get into crypto, and did you have any other venture in crypto previous to being involved with Fire Protocol?

Danny:
Before crypto, I wash dishes in McDonald’s.

Q2 from Telegram user @ShaLiPon
Any reasons why you don’t have a plan to add NFT to your services?

Danny:
Nice profile.

We have already 3 products:
⁃ DEX/Swap: Fireswap is a fast and secure trading service; Liquidity Mining
⁃ Cross Chain Wrapping solutions to bring non-Huobi Chain assets via into the Huobi Ecosystem from various chains; eg Ethereum, Tron, Polkadot (in future)
⁃ Money Market with Lending and Borrowing solution; fully integrated with our DEX > Liquidity Providers’ token on our DEX serve at the same time as collaterals on borrowing/ lending protocol.

…and our roadmap is more focused on DEFI …. so we are not NFTfi dear….

FOCUS!

Q3 from Telegram user @lzamg
🌟Liquidity is a major issue for decentralized exchanges, but Fire Protocol has partnered with some other projects to help solve this problem. Can you tell us more about how projects like StaFi and Orion Protocol will contribute to Fire Protocol with liquidity?

Danny:
Yes with our partners we will have great solutions for liquidity constraints –

We also in-build our own ‘capital efficiency’ > our Lending and Borrowing solution is fully integrated with our DEX.

That means Liquidity Providers’ token on our DEX serve at the same time as collaterals on borrowing/ lending protocol > this is unlocking capital for ore liquidity overall.

Q4 from Telegram user @JoanaZ
Does Fire Protocol have any Burning system considering that its name is kinda “associated” with deflationary mechanisms?

Danny:
We are considering burning since we are FIRE lol.
Anyway – we are reviewing potential burn token from fees collected for cross-chain wrapping. To be announced.

Q5 from Telegram user @JoanaZ
Apart from the HECO chain and the Ethereum Network relationship, tokens from other chains like Tron or BSC Will be able to use Fire Protocol?

Danny:
Yes, soon Jade.

Q6 from Telegram user @AugusS7
Fire Protocol is shown as a protocol with great benefits, but they really already exist a Defi protocol that covers the entire market like Uniswap, could Fire protocol somehow change the look of Uniswap users to its protocol?

Danny:
The first always deserves to win right…
We are similar to Uniswap no doubt …. however, we are not just a DEX – we have a lending protocol and cross-chain wrapping. You can also check our updated roadmap here https://t.co/etIjQDVe8z

Part 3 – Quiz Results

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

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

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

Our partners:
Fire Protocol Community: https://t.me/fireprotocol
Twitter: https://twitter.com/FireProtocolOS

We are pleased to announce our next AMA on January 27th 2021 at 02:00 PM UTC Time: Satoshi Club x Savix

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

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

Part 3: 300$ – A quiz about Savix

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

PART 1. Introduction of RSK project and community questions.

Hello, Satoshi Clubbers and guests of this site. We are happy to present you with a project called RSK.
RSK – Trustless and transparent finance on Bitcoin. Where users can lend, borrow, trade, and earn interest on
their Bitcoin.

The plan of AMA session:

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

The reward pool is 800$

Leading the AMA our clever and fun admins:

Serg | Satoshi Club – 

The Representative of the project:

Diego Gutiérrez Zaldívar – @dieguitogz

Introduction of RSK project.

Serg | Satoshi Club:

HI! We are pleased to have @dieguitogz as a guest today. Our AMA will be about RSK. Welcome, Diego!

Ciprian Ciubotaru:

Hi everyone!

Diego Gutiérrez Zaldívar:

Hello, Satoshi clubbers!!! Very happy to be here!

Serg | Satoshi Club:

Nice to meet you 😀 Before we start to discuss the questions of the community, please tell us a bit about yourself. Your background in crypto.

Ciprian Ciubotaru:

Thanks for joining and thank you for your time 😊

Diego Gutiérrez Zaldívar:

Happy too. I’ve got in touch with Bitcoin in 2011. But I didn’t get it 😂, and almost a year later a good friend of mine brought me back to it.

Serg | Satoshi Club:

It happened to me as well 😀

Back then in Argentina, we had capital controls and my friend made me open an account at Blockchain.info, sent me 5K BTC, I sent them back to him and all happened within an hour.

Diego Gutiérrez Zaldívar:

For me, that experience was revealing. Because I had the feeling of how a truly open and permissionless financial system would work.

So since then, I decided to devote myself in full to understand Bitcoin and foster its knowledge in Latin America.

Serg | Satoshi Club:

And how is it related to RSK? what was the original idea behind it?

Diego Gutiérrez Zaldívar:

Well as I started with 2 partners to create the Bitcoin communities across Latin America, I was defining where I wanted to apply my efforts. And at the end of 2013, I decided I wanted to focus on solving the problem of financial exclusion.

As I started some experiences in the slums I realized that Bitcoin alone was not enough. That we needed representations of the local currencies and decentralized business logic. And I wanted to have those local currencies backed by Bitcoin, much like a digital gold standard.

Serg | Satoshi Club:

So, you are basically one of the pioneers of crypto 😀

Diego Gutiérrez Zaldívar:

You can say so 🙂 but I think the true pioneers are Nick Szabo and Adam Backs 🙂

So at the end of 2014 after a talk with Nick Szabo that triggered the question on how we could bring all those functionalities to Bitcoin I contacted Sergio Lerner our Chief Scientist and cofounder to discuss these ideas.

Serg | Satoshi Club:

Wow, you are in contact with Nick Szabo 👍 some people speculate he is behind the creation of BTC. What is your opinion about it?

Diego Gutiérrez Zaldívar:

Even Sergio started in 2011 and found 9 bugs in Bitcoin protecting it from some important threats.

Well I think he is for sure one of the intellectual fathers of Bitcoin but I think is a great thing that Satoshi is unknown, otherwise, any characteristics (bad or good) of the individual or collective behind the alias would be used to attack Bitcoin. Or to create sides.

Serg | Satoshi Club:

Totally agree 😀

Diego Gutiérrez Zaldívar:

Is great that Satoshi is anonymous so we all can be Satoshi.

Serg | Satoshi Club:

Thanks for this awesome introduction. Shall we proceed to the questions of the community?

Diego Gutiérrez Zaldívar:

My pleasure 😊 Absolutely.

Preselected questions about the RSK project.

Serg | Satoshi Club:

Q1 from bitcointalk user pedronino

Hi! Please explain why you added 2 tokens beside RIF? I have read but it is not fully clear. What is RDOC and RIFP? Are there any more tokens?

Diego Gutiérrez Zaldívar:

Well, those two additional tokens were not created by us, they are tokens created by the MoneyOnChain protocol, and both are backed by RIF. RDOC is a stable asset that follows the dollar price and is over collateralized by RIF. So it will always be worth 1 dollar of RIF regardless of the RIF fluctuations.

Serg | Satoshi Club:

Where can people acquire it? If you have RIF you can obtain them on the RIFonChain platform rif.moneyonchain.com

Diego Gutiérrez Zaldívar:

It is essential for the RIF economy for the following reasons.

Serg | Satoshi Club:

Sorry, usually @iri_kravchuk takes care of this bot but she is not available today🙂

Diego Gutiérrez Zaldívar:

Not a problem 🙂

Serg | Satoshi Club:

I will repost your messages which get deleted

Diego Gutiérrez Zaldívar:

As all services in the RIF Economy are structured around a sharing economy engine (RIF Marketplace).

The Service providers need to stake RIF or RIF denominated assets as insurance if they don’t deliver their services. So for Service Providers having RDOC ensures they can preserve their working capital.

Serg | Satoshi Club:

So, if I sell services worth 10,000 USD, I have to also buy tokens worth of this value for insurance?

Diego Gutiérrez Zaldívar:

Conceptually yes, the ratio of staking might not be 1 to 1 but yes, all RIF service providers need to stake RIF or RIF backed tokens.

On the user side as we designed the RIF Services to serve the mainstream audience it helps new users have a token that is connected to something they already know until they get deeper into the crypto economy.

Serg | Satoshi Club:

Thank you for your clarifications, Diego. Ready for Q2? Or you have smth to add?

Diego Gutiérrez Zaldívar:

Absolutely! No no, I was going to say that for users it lowers friction and for providers gives them short term operational predictability

Serg | Satoshi Club:

Next Q then 😀

Q2 from Telegram user @bambusvero

Do you think that there might be a problem if on your marketplace you can “exchange information, value, and services with full control and transparency”? What if I want my transaction on the marketplace to be anonymous? What if a governmental institution can see it and ask me to pay taxes for the transaction?

Diego Gutiérrez Zaldívar:

Well as with Bitcoin all transactions on the RIF Marketplace are pseudonymous and we are designing some privacy-enhancing features. I think in the current state of affairs going fully anonymous would bring a level of confrontation with the government that could be detrimental to the development of the RIF economy.

Serg | Satoshi Club:

At the moment, do you have any relationships/deals with governments? is your platform regulated?

Diego Gutiérrez Zaldívar:

We should find a balance where we stop mass surveillance systems from operating but if there is a crime involving the information that can be followed by a forensics specialist, that’s where Bitcoin is today and we follow the same ethos/balance.

The platform is protected by proof of work and is fully decentralized so we don’t control what runs in it

Serg | Satoshi Club:

What do you mean by bringing a level of confrontation with the government then? like they can ban its usage?

Diego Gutiérrez Zaldívar:

Well, I think the governments, even if they can stop a platform, can create a lot of friction. Good examples of that are happening with Zcash, Monero, Dash, etc, and the IRS.

Our organization (IOVLabs) that is the original creator of the protocol is working with some governments to streamline certain areas of the government functions (driver’s license).

Serg | Satoshi Club:

That’s cool. Can you tell us which governments are those? Or it’s a secret at the moment?

Diego Gutiérrez Zaldívar:

Some are public like the project we did to create secure communications channels to report complaints about commercial banks to the Central Bank in Argentina or a circular economy implemented in Marcos Paz, a 50K citizens city in the province of Buenos Aires. Others are still secret

Serg | Satoshi Club:

Congratulations!

Diego Gutiérrez Zaldívar:

Thank you, all the project we do them with partners of our ecosystem so we help the ecosystem grow.

Serg | Satoshi Club:

I hope you don’t mind if I ask for a lot of clarifications 😁 the topic is too interesting. Let me know when you are ready for Q3

Diego Gutiérrez Zaldívar:

Not at all on the contrary! Ready!

Serg | Satoshi Club:

Q3 from bitcointalk user mirsiyanova

Because RSK creates a sharing economy without a third-party, how will RSK solve cases of disputes between buyers and sellers?

Diego Gutiérrez Zaldívar:

I think I answered that partially before, in the case of services that can be automatically validated (ie: storage, secure data transport, transaction processing, monitoring, etc.) the staking mechanism takes care of it. For the case of disputes that require subjective evaluation, we are going to integrate Kleros and use the RIF Gateways oracle protocols to also integrate information markets or paid arbitrage in the future.

Serg | Satoshi Club:

How do you know which transactions will need a subjective evaluation?

Diego Gutiérrez Zaldívar:

Oh, that’s something each sharing economy decides the initial RIF Services we created are all self enforceable. But the RIF Marketplace is open so others can create their own sharing economies. Our role is to provide the building blocks so others can combine them. We are in the process of turning a Social Network (Taringa!) into a Social Marketplace and we will showcase subjective dispute resolution there.

Serg | Satoshi Club:

I see. Thank you for this explanation. I will post the next question 😀, but I see that you are typing 🙂 so I will wait a bit.

Diego Gutiérrez Zaldívar:

My pleasure, in that sense, is important to understand that our role is to create the protocols, transfer them to the community and demonstrate the potential via some use cases but the final goal is to create an ecosystem where many are creating solutions around the world and make this technology their own

Done! 🙂

Serg | Satoshi Club:

Q4 from Telegram user @vasekmures

What services are compatible with the RIF infrastructure? I know that if I am a token holder I can use them, but where can I find the list?

Diego Gutiérrez Zaldívar:

For a complete list of services and their goal you can go to rifos.org and for a more technical view (libraries, dev tutorials, etc) you can go to developers.rsk.co

Diego Gutiérrez Zaldívar:

The first ones we are focusing on are RIF Identity (includes RIF Directory, and RSK Name Services), RIF Data (includes Storage and Streaming), RIF Payments (includes Lumino equivalent to Lightning on Bitcoin and other 3rd layer payment scaling protocols), RIF Gateways (oracles, schedulers, and triggers outside the Blockchain) and RIF Communications (incentivized secure communications protocol). All this is integrated around the RIF Marketplace.

Done! 🙂

Serg | Satoshi Club:

I think you answered well and everything is clear 🙂 shall we proceed to the next one?

Diego Gutiérrez Zaldívar:

Absolutely I think the only thing I didn’t answer is about the purpose of RIFP

Serg | Satoshi Club:

You can clarify this now 🙂

Diego Gutiérrez Zaldívar:

Perfect

RIFP is the asset that RIF holders get when they provide the collateral for the issuance of RDOC and it gets revenue sharing from the operation of the RIFonChain platform and slight leverage on the RIF volatility so its a good option for long term RIF holders

Diego Gutiérrez Zaldívar:

Done! 🙂

Serg | Satoshi Club:

Nice 🙂

Serg | Satoshi Club:

Q5 from Telegram user @bitociok

I have a question about RIF Publish. As I understand, it is a place free of censorship. Can you explain to us why you needed to develop such a platform when we already have alternatives on the market? like Steemit for example.

And what are the differences?

Diego Gutiérrez Zaldívar:

RIF Publish is a demonstration of what can be done combining multiple RIF Protocols: RNS for decentralized name resolution (so nobody can stop people from finding the page), RIF Data Storage (to store the data in a censorship-resistant and decentralized medium) and soon we will be able to integrate it with RIF Marketplace and Gateways for people to pay for specific journalist research on topics. RIF Publish is not trying to compete with Steemit and others although it has a bigger level of decentralization but to showcase the potential of the protocols we are building.

Serg | Satoshi Club:

Can you tell us more details about the storage? Is it also decentralized?

Diego Gutiérrez Zaldívar:

Yes, RIF Data Storage is a decentralized meta protocol that enables to create of economic incentives for service providers using different storage protocols. Currently, we have integrated Swarm and IPFS but once the incentive model is stabilized other protocols can be included.

Serg | Satoshi Club:

Thanks 😀

Diego Gutiérrez Zaldívar:

As the toolchain (protocol, libraries, and documentation) grow creating something like RIF Publish will be a matter of weeks and that’s our objective to enable developers to deliver value very efficiently.

Serg | Satoshi Club:

Are you ready for the last questions of the first part?

Diego Gutiérrez Zaldívar:

I am!

Serg | Satoshi Club:

Q6 from Telegram user @Lorax14

RIF OS wants to “manage to use one framework to solve all the developer’s need”, how will you be able to do that?

Diego Gutiérrez Zaldívar:

Well, I’m not sure if that definition is accurate.

Diego Gutiérrez Zaldívar:

RIF OS is a framework (RSK Infrastructure Framework) and as such it has some synergies between components for example we try to make all RIF protocols leverage on the RIF Communications protocol and the RIF Communication protocol leverages on the RIF Storage protocol for privacy, the RIF Storage protocol leverages on the RIF Payments protocol to make micropayments possible and so on and so on.

Also what all the protocols have in common is that their economies are integrated around the RIF Marketplace backed by the RIF token or derived assets. And in all cases we build libraries in the most used languages (javascript, java, python, C#, etc) on top of the protocols so non-blockchain developers can use the technology without becoming experts. So I would say what RIF offers is a unified technical interface and a sharing economy to all the protocols needed to build fully decentralized applications.

Done! 🙂

Serg | Satoshi Club:

Diego, thanks a lot for your patience to answer these questions 🙂 Part 1 is over. In less than 1 minute we will open the chat for 80 seconds to collect some more questions from the community. Ready?

Diego Gutiérrez Zaldívar:

Thank you, Serg for inviting me and for the community for their questions!

Serg | Satoshi Club:

I like this cartoon 🙂

Diego Gutiérrez Zaldívar:

Yes I love it

PART 2.Questions about the RSK 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 RSK crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 150$.

Q – 1 from a telegram user @songlandak

What was your motivation for starting this project? and what is your vision for $RIF?

Diego Gutiérrez Zaldívar:

Our motivation at IOVLabs has always been the same: https://www.ibtimes.co.uk/rootstock-merges-bitcoin-ethereum-help-world-bank-drive-financial-inclusion-1528902

As you can see we are pretty consistent over time.

Our main goal is to create the financial infrastructure that will serve anyone regardless of the conditions they were born into. And we decided to create that on top of Bitcoin because we wanted the foundations (Store of Value) to be as censorship-resistant and solid as possible. That’s why we choose to make bitcoin the RSK native currency and use merge mining to protect the network (stats.rsk.co)

Our vision is that we are part of a greater construction that we called the Internet of Value and that by definition is a network of networks to protect and transfer value. In our vision this Internet of Value will be built in a layered way being decentralized store of value Layer 1, agreement settlement Layer 2, P2P infrastructure services Layer 3, and above that the application level. So year after year we go building block by block our vision and demonstrating the potential of the stack as it grows. 

Q – 2 from a telegram user @Magoy12

In looking over the whitepaper there is both “Smart Bitcoin”, RBTC, the native token for, RSK Smart Contracts, which appears to be only to pay for tx fees/gas. Is there a reason that RIF Token is truly necessary, or in theory could everything have been done with RBTC? Thx.

Diego Gutiérrez Zaldívar:

The reason why we create RIF is that we envision the RIF economy serving all the smart contract crypto economies and we plan to port RIF token and the RIF Marketplace to other crypto economies like Ethereum, Ethereum Classic, EOS, Cardano, etc.

We are also working on Enveloping transactions that will enable RIF applications to operate fully with RIF while Enveloping providers pay the Bitcoin miners in RBTC.

That will be available for any token running on RSK so developers will be able to have single token applications while RSK remains in full alignment with Bitcoin.

Q – 3 from a telegram user @nyo_cant

Hi, one of the main goals of your project is helping the less-favored people, which is really praiseworthy and could be of great help for developing countries. However, you decided to establish your organization in Gibraltar, which seems to be quite the opposite. What advantages bring Gibraltar in for your project? Thanks!

Diego Gutiérrez Zaldívar:

Well, we choose Gibraltar for the HQ of our purpose-driven organization because after evaluating multiple jurisdictions we found one where the government and regulator really understood the nature of what we were building and was willing to collaborate to also implement this technology. Small jurisdictions have the motivation to innovate faster and we found in Gibraltar a place that not only had this motivation but that also took the time to properly study the technology.

Regarding helping the less favored I think although we have them as our main focus I want to say that we don’t want to create a financial system for the poor, we want to create a financial system that is so efficient and open that is inclusive by nature.

Q – 4 from a telegram user @CryptoZaratustra

Please share key performance indicators of the chain, such as the number of blocks per second, time to completion of a transaction, transaction speed, cost per transaction, or something else? Can you compete with other payment networks?

Diego Gutiérrez Zaldívar:

You can check most of this info here: stats.rsk.co but on average RSK validates a block every 30 seconds, has the potential of scaling to 100 transactions per second (TPS) in its current state but with improvement, we have in progress and reach 2000 tps preserving the ethos of Bitcoin of independent and affordable validation for an individual. The cost per transaction for bitcoin is 1 cent USD and for tokens around 4 cents USD. We are building the RIF Payment protocols in order to achieve levels on pair with Payment Networks like Paypal (190 tps), VISA (~3K tps on average), or even Alipay (85K peak tps).

Q – 5 from a telegram user @konditer_rolex

Is RSK Mainnet another layer for the BTC blockchain? Do you want to improve BTC or use it to secure R-BTC and your network?

Diego Gutiérrez Zaldívar:

RSK Mainnet is a separate Blockchain with a different consensus protocol (DECOR+) that has currently 40% of the economical security of Bitcoin and twice the economical security of Ethereum. Given its native currency, RBTC is backed 1 to 1 with bitcoin and the network is secured by the Bitcoin miners via merge mining we see RSK as part of the Bitcoin Ecosystem and as an extension to core Bitcoin capabilities.

Q – 6 from a telegram user @carlos3766

How are the important decisions taken on the platform? through the Federation?

Diego Gutiérrez Zaldívar:

Nope the RSK Federation is only used by the Bitcoin peg the RSK platform itself is protected by proof of work and upgrades to the protocol are proposed by us or the community and independently accepted by miners and node operators in the same fashion as Bitcoin but of course without the same level of decentralization yet 🙂

Q – 7 from a telegram user @sangmark1

For a project development first of all main priority is having enough funds. Is the RSK team financially capable to run this project? Does RSK have enough funds for its development? Can you tell us that how RSK generates profit?

Diego Gutiérrez Zaldívar:

IOVLabs (RSK is an open network) is a purpose drive organization so all the revenue is invested back into Ecosystem and protocol development, it has more than 5 years of runway which is enough to fulfill its objectives. IOVLabs supports core projects in the RSK ecosystem and has a revenue-sharing with them so as the ecosystem succeeds IOVLabs sustainability is assured. On top of that IOVLabs has a pool of RIF tokens that will use to promote ecosystem and protocol development and also receives revenue sharing from miners transaction fees.

Q – 8 from a telegram @Bit_Top

What do you think of a public chain with privacy features? Many public chains are considering adding privacy features, such as adding zero-knowledge proofs, will RIF develop in this field?

Diego Gutiérrez Zaldívar:

Zero-Knowledge proof is already possible on RSK and a team already implemented the Zokrates libraries successfully. On the protocol level, we are fully pro-privacy and we have a couple of projects that go in that direction. As I stated before I think we need to find the balance where we avoid the platforms to be used as mass surveillance systems while also avoiding full confrontation with enforcing agencies but that’s my personal opinion, as said full privacy solutions can be built on top of RSK regardless of my point of view 😊

Q – 9 from a telegram user @Rifat118molla

Most platforms take a substantial cut, meaning creators only see a portion of their rewards. So How does the RSK Platform solve this problem? Is the value that creators receive on the RSK platform always optimal?

Diego Gutiérrez Zaldívar:

Yes in RSK creators only pay per use of the platform to miners and as I shared before the costs are very low and stable (http://rskgasstation.info/), around 1 cent for an RBTC transfer, 4 cents for a RIF or any other token transfer and some pretty complex contracts cost 1 USD to use. IOVLabs has no control over who uses the platform is a truly P2P platform run by the community

Q -10 from a telegram user @malachi456

Have been working with ETH solidity, what is the modalities involved, and the incentive for me to Port my Ethereum projects to RSK. WHAT’S THE competitive advantage for me?

Diego Gutiérrez Zaldívar:

Well on one side you have to do zero modifications to your contracts, recently a project ported to RSK, and they were happily surprised that they only had to change their private keys :). On the cost side, the cost in RSK is most of the time much cheaper than on Ethereum but more important because of the fees model they are extremely stable so you have predictability on your running cost. The other key element is all the things you get solved out of the box thanks to RIF, a great example is the rWallet one of the few Bitcoin and RSK open-source wallets for Android and iOS (https://developers.rsk.co/wallet/rwallet/). Finally, you have the second safest network after Bitcoin and the safest more efficient way to interact with bitcoin using Smart Contracts.

 

THE END of OPEN CHAT

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the RSK Blockchain 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: RSK Blockchain

RSK Telegram group  |  RIF Telegram Chanel  |  Tweeter  |  Website  |  Medium  

RIF services:
at web-site

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from Triplex.Network. The AMA took place on January 20 and our guest was Seed Master.

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

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Triplex.Network! Welcome to Satoshi Club. 😀

Seed Master: Hi Mary! I’m so happy to be here, heard a lot of good things about this community!

Mary | Satoshi Club: The same with us🎉 it’s always cool to have new projects as guests. How are you today?

Seed Master: I’m great! Me and all my guys on  https://t.me/triplex_network_token are very excited! Our launch went great – and i’m sure this AMA will be even better!

Mary | Satoshi Club: That’s great! Let’s start with your introduction and of course introduce Triplex.Network to our community.

Seed Master: So I’m Seed! I’m a dev for a lot of time now, had already few successful projects in the past – and now I have created our best project yet -TripleX.Network. A lot ask me why my name is seed.

Mary | Satoshi Club: Yes, why seed?

Seed Master: So nothing clever, I just love to eat (and sometimes smoke😉) all kind of plants. 🙂

Mary | Satoshi Club: And tell us more about TripleX.Network concept.

Seed Master: With pleasure dear Mary! So I know everyone love passive yield generation and how could you not love it? But I love to take everything to the extreme! So while most of the projects have just one way to make it happen – we have 3 WAYS TO PASSIVE INCOME! and the most amazing part? it’s all transactionless, you simply hold, no more websites with complex code, no more high gas. you simply hold.

Let me explain how we achieve the best passive income you guys heard of and please forgive me in advance – because i’m going to blow some minds.

First thing is Daily transactionless inflation! – Every day, the contract automatically increasing the balance of each holder without the need for a single transaction. For the first week, the holders will get every day 4% more of tokens. After that, for a month it will be 3% per day. After that period – 1% every day, for a life time!

The second: Smart Yield Generation – On each transaction, a 3% fee is distributed to all TripleX holder proportionate to their total holding. TripleX is generating you a passive income simply by holding your tokens. Which in some way, if you think about it – it’s the biggest thing of RFI – but for us it’s just “one more way” to get passive yield generation.

The third: Smart BuyBacks – Every 15 minutes TripleX initiates a phenomenon, which represents a buyback using the entirety of the accumulated funds in the buyback wallet over this time period. all the TripleX tokens that have been purchased during the buyback will be burnt forever, making every token more valuable.

Q1 from Telegram user @johana0012

What does TripleX.Network really offer? Could you explain to me what the FLOW merger consists of, and why combine it with RFI and an intelligent Buy Back function?

Seed Master: Great question Johana! TripleX offers you a better way to passive yield generation. But what is it REALLY offers you? Stability! In this crazy world – where the feds just keep printing money, and the $ loss it’s value every single day – we want to give you something safe. You know you get a daily interest. not some 0.5% of ROI when you hodl in your bank. but a REAL ROI!

Now let me answer about the flow and rfi and of course about the buybacks! The flow merge gives you something that resembles stakeless farming. You can increase your position without locking your tokens away – they are all under your control at all times. And all this is achieved transactionslessly and with minimal fees, we especially worked hard on minimizing the fees by employing techniques like efficient exponentiation, efficient fixed point arithmetic and more and you can take a look at the results yourself!

Mary | Satoshi Club: How you will minimise fees?

Seed Master: As I mentioned – there’s some math involved, but you could read some more about exponentiation by squaring for example. We are also using delayed fee collection to make sure the fee is distributed much more evenly.Another factor we leveraged is efficient fixed point math – in case you are not familiar with solidity – there are no default floating point operations. We have done a lot of research and used some optimized and known methods for that.

Mary | Satoshi Club: Do you have any articles about this?

Seed Master: Yes of course! you can read it on our medium article: Medium: https://bit.ly/3qldRRW

We will post some more technical resources in the group and on medium later. I already told you I love green and plants right?

But seeing so much green is even making me happy!

Q2 from Telegram user @yellowchamp

According to your platform, in presale in Triplex would be 60ETH Softcap 96ETH Hardcap No whales on whitelist. You can buy 1ETH or 2ETH only 30 Spots for 2 ETH and 30 Spots for 1ETH. Only 60 participants on the whitelist 17,500 TripleX tokens. So with this scenario, the holders of your token would be only 60 for pre-sale? What if not all tokens will be sold, what happen to unsold tokens? Why does the minimum of buying in Presale is 1ETH so high as we know 1eth today is already 1300$-1400$ already, do you think investors would buy it? Why not decide to lower the minimum so that small potential investors can afford it? Presale info in your website is not so clear, can you tell us more about it? Thank you.

Seed Master: Let’s travel to future, imagine all the tokens being sold in 10 minutes and whitelist filled under 10 seconds, Sounds like a dream?

Well – as Trump says, sometimes dreams became reality! Because our pre-sale is already over we sold all the tokens in 10 minutes’ whitelist was filled in 10 seconds and now we see mostly green candels so I guess trump was right guys sometimes dreams do come true.

Gold Rocket | Satoshi Club: You are a big crypto idealist, who has everything mathematically confirmed😊.

Seed Master: Yep! I have a passion for maths and the distributed nature of the blockchain 🙂

Mary | Satoshi Club: But as @yellowchamp told you didn’t give chances for smaller investors? Why?

Seed Master: That’s a great question. We needed a strong fundamental. We wanted to make it inclusive. A lot of people getting mad on Rolex – why so much funds needed to buy it? when you can buy a watch in 10$? That’s right! but it’s not rolex. We wanted to combine capitalism together with communism. We gave opportunities for big guys on pre-sale (And I don’t really think 1ETH is considered a big guy) – and opportunity for everyone else on listing, you know the saying – if you can’t beat them, join them? We are here to help the little guy you didn’t have the funds to participate with 1ETH pre-sale? with TripleX.Network – you will soon have more than enough to be able to participate in the next big pre-sale, with our daily interest – you will hopefully become a whale yourself one day.

Mary | Satoshi Club: Btw, can you give me at least one example of a project with such high ROI which didn’t dump in some months? 😀

Seed Master: Of course! Take a look at flow. They didn’t have any major dump until they reached more than 1k holders, we are in a position when we have only 200 holders now. So it’s reasonable to think that the future “dump” is at least 2x from now considering we are only around 200 holders now.

Mary | Satoshi Club: Flow? You mean Flow protocol?

Seed Master: Exactly, the problem which led them to dump is there was no buying pressure that’s why we made sure to have buybacks every 15 minutes, so even if more people sell and “the price is dumping” you get more tokens out of each fee Both tokens and buybacks. People buy? People sell? Either way you make somehow money.

Mary | Satoshi Club: I found this chart for Flow Protocol 🧐🤷

Seed Master: Exactly! the dump started after 1k holders and don’t forget it’s a direct listing, they didn’t have strong fundamentals that’s why we raised 60ETH to have a strong baseline that’s also the reason why we reduce it to 1% to eliminate the dump.

Q3 from Telegram user @Korryl

I understand that you choose being anon team because of privacy and decentralization reason, but some people might be afraid to invest on your project, do you have plan in the future to introduce about your team? How do you convince us new investor that TripelX Network is a trusted and safe project?

Seed Master: Here’s another graph to look at.

And I’ll let you check the market cap on your own and we combine the best of both of them.

Let’s answer the question, yes we are anon. But you don’t need to trust us. As a matter of fact, You can’t trust us! ONLY TRUST THE CODE and the code is simple to understand that’s why we also made comments to better explain everything.

Mary | Satoshi Club: Was this code audited?

Seed Master: Not yet – but we definitely want to audit it soon. We are planning to Audit it With Solid Or Certik. We are already in advanced talks with Solid – you can confirm it with him of course!

Q4 from Telegram user @JesusFre1tes

About Smart Performance Generation, what is the fee that is distributed to all TripleX holders on each transaction to be proportional to the total share? Does TripleX generate passive income by simply keeping my tokens? This intelligent performance, what technology do you use to make it efficient and superior to any other protocol?

Seed Master: 3% are distributed to all holders based on their current holdings. As we mentioned – YES! TripleX generates passive yield by simply holding based on the 3 methods we elaborated on above. How we make it superior? it’s the great question! it’s all about tech.

By carefully learning from academic resources and other projects! As we mentioned – we are using some clever math techniques to reduce the number of loop iterations (one of the major gas huggers in solidity and ethereum), we split the fees without a single transaction(!) And more. We could elaborate on that alone for an hour :). Happy to if the community is interested, but again – more detailed info will be posted in our group. But in simple words – we managed to reduce the loops and instead of paying the fees to the miners we paying them to you. While in other projects you pay to the miners – here you pay to the people!

Mary | Satoshi Club: Is it already working? I mean, if i will buy today, will i get my profit tomorrow? 😀

Seed Master: Not tomorrow, but TODAY! that’s the beauty and dear Mary – I told you dreams can become true and they are already true 😁. The code has been LIVE and in production for the past week! While a lot of projects talk about “road maps” and “future plans” we talk business, we already delivered. We are not telling some “in the future tales” – our power is the truth and the current project and of course some seeds 🙂

Q5 from Telegram user @cengizhantekin

You do daily transactionless inflation with ratios of 4%, 3% and 1% ultimately. By doing this, the total number of tokens will double in the first 21 days and will keep doubling each 70 days. I understand that you will get this amount from the transactions but what if the transactions do not suffice to that inflation? What will the source for holders rewards be?

Seed Master: The inflation comes not from the transaction but from our smart contract so even with 0 transacations – you will have this rewards! The transactions? are a bonus! While we have new blocks – the rewards will keep coming. But more volume will result in the fee of the RFI + BUYBACKS but the flow rewards are regardless to the volume and that’s the beauty.

Mary | Satoshi Club: But the will be smaller?

Seed Master: The specific rewards you mentioned – are completely transactionless! You will gain them even if no transaction has happened for a year.

Mary | Satoshi Club: Let’s imagine, that i was one of those happy members that bought for 1ETH on your sale. I didn’t sell nothing, didn’t move my coins during today, how much should i get during one day?

Seed Master: It’s a nice question Mary! And I’m glad you ask only about 1 day! Because if you hold tripleX for a month you will probably won’t talk with me because you would already be sailing on your yacht 😂.

First of all

 * 4% each day

* 3% on each transaction

* buybacks increasing price

So it’s hard to answer on one day, but the min is 4% and it’s if the volume is 0 the more real is at least 6% + price change. So it can easily be more than 50% let’s look at the graph.

Less than 1 day, but you will forgive me.

Mary | Satoshi Club: I winder, how much do you pay gas fees daily to distribute rewards?

Seed Master: There a few parts to this answer, and Ill get to some cold hard numbers for a second. A buy is around 200k gas, which consists of 80%+ of uniswap’s fees – not ours! A sell has an amortized cost of around 250k gas, and is usually the heaviest operation for tokens. So basically – the fee for selling the token at current gas price is around 5 USD, and the fee for splitting all the rewards is ZERO.

That’s right! The answer is 0! as I said – we take the money from the miners – and give them back to you good thing we are anon, otherwise some miners would hunt us down. 😂

Q6 from Telegram user @Wormz28

Can you tell us some of the latest achievements made by the TripleX Network project? Can you also describe in details the development efforts you are currently working on like market expansion plans, expected applications, if there’s any & new upcoming program or events, etc.?

Seed Master: We have a lot of new things coming – Firstly, the audit. We always want to make sure the community feels safe investing!

Secondly – coingecko listing – we have already applied and waiting for the next phase.

Third – more AMAs and spreading the word! We are working hard on spreading the word on our community.

And lastly – we have a project that is going to synergize extremely well with tripleX, but it is still under development.

So a lot of new arbitrage oppurtunities are about to come! And we tell it here in the first time!

Mary | Satoshi Club: Hint? We love hints.

Seed Master: We will have new things to integrate with TripleX (In the future). Making the ROI even higer and not depending on just one Token making it more resistable. It’s like investing on two different stocks don’t put all your seeds in one basket. 😊

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.

Q1 from Telegram User @babicanB

Are communities important to the TripleX Network? Do you plan to create a larger community and direct your project with their views?

Seed Master: Of course! our community is the center of our strength!

Q2 from Telegram User @K2ice

How is it possible for a user to be rewarded even with 0 transactions?

Seed Master: Nice question! The reward calculation is lazily evaluated! When you ask for your balance, all rewards are calculated retroactively in an optimized process.

Q3 from Telegram User @leixagarcia

I couldn’t see the TripleX roadmap on your website, but could you share what phase of your roadmap you are currently in? And what are TripleX’s main goals for this 2021?

Seed Master: We answered that to Mary, it’s the last question.

Q4 from Telegram User @JuanSB07

If during the first week users received 4%, then 3% in a month and finally 1% throughout their life, wouldn’t that be very high percentages? There is no chance that TripleX.network will become a scam? How can TripleX.network offer high percentages?

Seed Master: Exactly like FLOW did. But we added the transaction on every buy to the buyback wallet. making constant buyback pressure. In addition – the tokens the buyback wallet buys are burnt forever, decreasing the amount of tokens.

Q5 from Telegram User @Gutike95

Each project has a smart contract, but no other a “smart token” like TripleX, but what does he really mean? What makes a simple token “smart”?

Seed Master: Well I believe the main thing that makes a token smart, is the intelligence of the people who built it, and how much academic knowledge and experience were invested in it. I can assure you – trying to achieve what we achieved, mainly the low gas, requires a big chunk of experience and time :). Smart people create smart tokens.

Q6 from Telegram User @curiosoAMA

I will win 3 times more by investing in TripleX than with any other token?

Seed Master: With the help of the community, yes you will! All we can guarantee is that invested a lot of time and effort, and produced three provably efficient ways to generate yield!

Q7 from Telegram User @eeaq15

On many occasions the commissions for Uniswap are exaggeratedly high, what is Triplex’s response to this problem?

Seed Master: We managed to reduce the number of loops, taking the money from the miners to the people. the gas on our token is low because we used math to lower the number of loops.

Q8 from Telegram User @tuvalunia

Your presale is already over. What is your next important step on the way of a great 2021?

Seed Master: The next major steps are the big listings – coingecko and hopefully CMC, and the launch of our new secret token that will have a positive feedback loop with X3!

Q9 from Telegram User @curiosoAMA

I will win 3 times more by investing in TripleX than with any other token?

Seed Master: And hopefully even more! It depends on us but also on the community! so join @triplex_network_token and make sure to invite all of your friends!

Q10 from Telegram User @Joseunda

The total supply is 17,500 very low supply, what is the reason for having this amount of supply?

Seed Master: Less supply making each token more valuable. It’s the optimal point between supply and demand. We did some surveys and this is also pretty close to what many in the community were looking for.

---

PART 3, QUIZ AND INFO

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

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

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

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

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

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

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

TripleX.Network: https://t.me/triplex_network_token

We are pleased to announce our next AMA on January 23rd 2021 at 02:00 PM UTC Time: Satoshi Club x Dbook

⚠️Click to see the hour
⚠️Total Reward pool: 50 DBK

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

We will have the following structure:

Part 1: 5 DBK /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: 5 DBK/10 users – Open chat for 100 seconds. You can post Max 3 questions. Dbook Team will select 10 questions and answer them.

Part 3: 40 DBK – A quiz about Dbook

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

Hello, Satoshi clubbers and guests of this site. Today we will talk about the Morse Network project. Morse is a new privacy coin that will completely revolutionize the privacy game by providing the ability to do everything in crypto, privately.
The AMA took place on January 21 and our guests were Samuel Morse – the CEO of Morse Network, Ivan Morse – the dev team lead at Morse Network, Daniel Morse – Head of Marketing at Morse SOS and Aurelian – a member of Morse Network.

The total reward pool was 500$ and has been split into 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

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Morse Network! Welcome to Satoshi Club😀

D. | Satoshi Club:
Hello all! 👋

Samuel Morse:
Thanks for having us! We’re excited to be here!

D. | Satoshi Club:
@RestitutorOrbis @MrMorse1 @MrMorse2 @MrMorse3 hello guys! welcome!

Daniel Morse:
Hey, thanks for hosting us.

Ivan Morse:
Heyy everyone
Thanks for having us

D. | Satoshi Club:
Welcome, welcome! 😁 how are you doing?

Aurelian:
Fine, here.

D. | Satoshi Club:
👍 awesome! let’s begin our AMA!

D. | Satoshi Club:
Please, tell Satoshi Club a bit about yourselves and Morse Network. ☺️

Samuel Morse:
I’m Samuel, the CEO of Morse Network. I’ve worked in crypto for years and have been with countless projects in just about every role imaginable. Morse is a new privacy coin that will completely revolutionize the privacy game by providing the ability to do everything in crypto, privately.

Ivan Morse:
Hey, I’m Ivan, I’m the dev team lead here at morse network. Been working on crypto for about three years now.

D. | Satoshi Club:
Ambitious goal! 👍

Daniel Morse:
I’m Daniel Morse, Head of Marketing at Morse SOS. Iv has been working in the crypto area for over 5 years now and have headed some great projects previously which landed multi-million USDs of investments.

Mary | Satoshi Club:
Can you explain how exactly Morse will revolutionize?😀

Samuel Morse:
Ambitious maybe, but we will be there much faster than anyone will expect. Our dev team has been kicking butt.

Mary | Satoshi Club:
Nice experience 👍

Samuel Morse:
Currently, privacy tokens are very niche and don’t provide that much functionality beyond the ability to transact. We see no reason that all the defi tools and other crypto tools shouldn’t be fully private also.

Samuel Morse:
There’s no reason for anyone to be tracked unless they want to be. We’re huge privacy advocates.

Mary | Satoshi Club:
We have mixers, so anyone can use them. Why we need privacy tokens?

Samuel Morse:
Mixers aren’t sustainable for long-term use, is not scalable, can still be traced effectively, and are not provably safe like Morse.

Samuel Morse:
Morse provides full functionality, with a near-limitless scale, and is probably safe.

Daniel Morse:
Above all mixers are relying on centralized services so it’s kind of hard to make sure they’re a fully decentralized service.

Daniel Morse:
The problem with conventional mixers is twofold; you have to trust them to not steal your money, and you have to trust them to not keep track of the movements they performed with your money.

Mary | Satoshi Club:
It has sense 🙂 but in mixers, we use ETH, for example. With you we will need to trust Morse😉 as i understand, you have an anonymous team, how you plan to build trust between Morse Network and its users?

D. | Satoshi Club:
1inch DEX already has the function of private transactions. anyone can swap privately there, as well.

Aurelian:
To some extent, it’s more of an aggregator than a privacy platform.

Samuel Morse:
You won’t actually need to trust Morse with how we will be setting things up. You just need to trust our tools which will be fully open source.

Mary | Satoshi Club:
Trust code?😀

Aurelian:
Not to mention the insane fees of 1inch.

Samuel Morse:
Trust code, not people.

Aurelian:
Don’t trust, verify.

D. | Satoshi Club:
Ok, thank you, guys! good intro, let’s find more about Morse in the first part of our AMA!😉 ready to start?

Samuel Morse:
Sure!

Mary | Satoshi Club:
Yes, favorite crypto moto👍

Q1 from Telegram user @Wormz28
Can you give us an overview of the tokenomics and use cases of MORSE? What is the total supply & the details of its distribution & emission? Also where we can purchase the $MORSE token?

Aurelian:
https://morse.network/assets/Morse-(SOS)-Whitepaper-v0.1-slight-update.pdf

Aurelian:
Tokenomics is on page 4.

Samuel Morse:

Aurelian:
Was just about to send that, lol.

Samuel Morse:
Morse can be purchased at morse.network/presale currently.

Mary | Satoshi Club:
Do we just need to send ETH to the address?

Samuel Morse:
Yup. Exactly. Then the coins are automatically sent to your wallet.

Mary | Satoshi Club:
Is it necessary to connect metamask?

D. | Satoshi Club:
And what are the use cases for Morse? would it be just another private coin/token?

Samuel Morse:
No, you can interact with the contract from any wallet by copying the address provided at the bottom of the page. We just set it up to be easy to use metamask since the majority of people tend to use metamask for presales.

Daniel Morse:
Metamask auto-populates the contract address when you connect it.

Daniel Morse:
But you can interact with the contract through any wallet.

Samuel Morse:
We are actually in negotiations with some very large markets on implementing our tech to help secure their markets and enhance the experience for their users.

Samuel Morse:
But Morse will be useful for anyone that wants to be able to do anything crypto has to offer in 1 place, privately.

Samuel Morse:
We will be a one stop shop that is provably private.

Mary | Satoshi Club:
So, basically, I will need to have $MORSE token and…

Mary | Satoshi Club:
When I will send it no one would be able to track this transaction?

Mary | Satoshi Club:
Or I will need to do something special for this?

Samuel Morse:
So basically you will be able to wrap any coin onto the morse network. Once wrapped you can move the wrapped versions anonymously to do all the normal stuff you would do with DeFi. When you leave the network, as long as you do so to a new wallet you will be fully untraceable. Once the basic defi tools are complete we will be adding a fully anonymous messenger to use within the ecosystem.

Mary | Satoshi Club:
Perfect, got it😀

Samuel Morse:
We will have versions of Morse on all major chains(Eth, Dot, TRX) that will allow use on those chains also.

Mary | Satoshi Club:
👍

Mary | Satoshi Club:
Thank you, guys! Ready to proceed?😀

Samuel Morse:
Sure.

Q2 from Telegram user @antoni_azx
At your whitepaper you stand with novel solutions like ZKRollups to hold the promise of increasing systemic efficiencies related to the preservation of privacy, can you tell us more about this subject? What will be its implementations?

Ivan Morse:
We’re using zk-snarks for creating proof while making a transaction on the network. The proof is created by a circuit provided to the zk library and is verified on the network. It eliminates everything which can trace a user making a transaction and can only be validated with the exact same circuit which created it.

D. | Satoshi Club:

D. | Satoshi Club:
Do you know some other projects which using this technology?

Mary | Satoshi Club:
It will be a very nice feature for crypto. Do you, guys, always personally use privacy coins and their features? Why?

D. | Satoshi Club:
Or it’s just your original work?

Ivan Morse:
It’s open-sourced. Many projects are using it. Only the circuit differs. It’s the main thing that actually does everything. xdai , tornado, etc.

D. | Satoshi Club:
Gotcha.

Samuel Morse:
I don’t always use privacy coins but the need is undeniable. There are always some transactions that people do not want the world to know about. A lot of whales have also commented to us that the ability for their holdings to remain private while still allowing them the ability to earn rewards and transact appeals to them.

Mary | Satoshi Club:
Ok, I see and the reason seems solid😉

Mary | Satoshi Club:
Do you want to add something or we can go to the next question?😀

Samuel Morse:
We can move on unless there’s anything you feel we missed answering.

Q3 from Telegram user @JesusFre1tes
Morse is still a very new platform in the cryptographic world. My question is, how will you generate confidence in your investors and users to start being part of Morse? With so many abandoned projects in the last months, what will Morse do to encourage participation in its protocols?

Samuel Morse:
On top of this, we are considering adding another layer of privacy to further mitigate the risk of anything being identified.

Mary | Satoshi Club:
What do you mean by another layer of privacy? What it will be?

Samuel Morse:
Once people see how fast we put out products that work and are useful they will gain confidence. On top of that, we are currently in negotiations with a few major markets to be implemented in them as potentially the only option. Once that occurs adoption will be inevitable.

D. | Satoshi Club:
yeah, everything is an open book in the most of blockchains, the privacy there is worse than in a bank system. 😁

Samuel Morse:
The best analogy I can give is if you’ve used any markets that require PGP encryption for messages, that also have a built-in encryption feature. It’s just to ensure that in case a worst-case scenario happens, you’re still covered.

Mary | Satoshi Club:
How soon your first product will be available?

D. | Satoshi Club:
Big news are coming.

Samuel Morse:
Exactly.

Samuel Morse:
I’d say about 4 weeks to be safe, but we’re actually anticipating way before then.

Mary | Satoshi Club: Why did you decide to do pre-sale first? Not working product, but pre-sale? Do you need funds to cover your expenses?

Samuel Morse:
Presale is mainly so that we can provide liquidity in a lot of places immediately on launch. Initially, we didn’t think the product timelines would be quick enough to make finishing it first a viable option. But our Dev team did some really good work. By the time we realized that was viable we had already made a lot of commitments around this timeline so we decided to continue with it.

Mary | Satoshi Club:

Samuel Morse:
If needed I will self fund the project.

Mary | Satoshi Club:
Oh, that’s generously😀

Mary | Satoshi Club:
Ready to go to the 4th question?

D. | Satoshi Club:
Will you do some sorts of airdrops for the community? or maybe some contests? like memes or sticker pack for Telegram?

Daniel Morse:
Haha we’re planning to do a meme contest very soon 😁

D. | Satoshi Club:
Nice! 👍

Q4 from Telegram user @KevSalom
Whenever we talk about privacy we only think about the advantages of protecting our identity in every transaction, but seeing the other side of the coin is also important. What about illegal transactions and money movements? Wouldn’t all this about privacy cause a rejection of Morse Network by governments?

Samuel Morse:
As of now, we have no plans for an airdrop. One of our team leads, @peeledthemask has actually been looking for a good option to make sticker packs.

Daniel Morse:
Also, there are rewards we’re planning for Twitter, Reddit, and others to

Mary | Satoshi Club:
we have meme profi here😂 right, @Cool_as_Ice ?

D. | Satoshi Club:
Whaat😁

Samuel Morse:
This is less of a concern when we can squat on other chains. Governments have already for example ruled Ethereum ok. So there’s no way they could prevent someone from using our network, then exiting on eth and using uniswap to turn it into something else they can use instantly. We are not really concerned about illegal transactions because we feel a handful of bad actors shouldn’t compromise the entire world’s right to privacy.

Mary | Satoshi Club:
It’s also true😂 so, no regulations and, btw, in some way it means no CEX Exchanges for $MORSE, right?

Samuel Morse:
We have actually been approached by quite a few exchanges, including 2 Tier A exchanges about Morse. I fully expect us to be on at least a couple CEXs just as an option for our users.

Mary | Satoshi Club:
👍

Mary | Satoshi Club:
Great, thank you for your answers.

Mary | Satoshi Club:
Ready to go forward to the next question?

Samuel Morse:
Sure.

Q5 from Telegram user @meml97
I saw that your roadmap starts and ends with 2021, is that everything you can give users about Morse Network background, how the project started and where will be at least on Q4 2021 or 2022? Don’t you think makes people a little skeptical not knowing the beginnings of the project and where the platform will be along with its users in the near future? Could you please give us more details about this?

Samuel Morse:
The idea is ultimately to allow the community to decide what needs to be built next. We anticipate that being within the year. At that point, it will be the community job to vote on what we do next.

We do have multiple teams that want to build on top of the framework we’re putting in place to add additional layers.

Mary | Satoshi Club:
How will your governance work?

D. | Satoshi Club:
By the way, would we have to pay some additional fees by using Morse Network? you know, on Ethereum you should pay for every move 😁 for every contract interaction, etc.

Samuel Morse:
Fees will be very low on the Morse Network. There will be transaction fees to wrap/unwrap on your desired chain that will depend on the fees on that chain at the time.

Aurelian:
With improvement proposals, community votes, reps if they’re needed due to whales accumulating, etc.

Aurelian:
Similar to Maker or Yearn Finance.

Aurelia:;
Trying to keep it as liquid as governance can be.

Mary | Satoshi Club:
🤘cool!

Mary | Satoshi Club:
And can we go to the 6th and the last question from this part?🚀

Samuel Morse:
Sure!

Q6 from Telegram user @AugusS7
If I want to create a dApp on the ETH chain and have Morse privacy, should I first create the application with ethereum and then associate it with Morse? or can I create it directly with Morse.

Ivan Morse:
You have to create the application on ethereum first then you can associate with morse or use it’s privacy feature. The chain is ethereum , you have to make it on ethereum first. If you don’t want to make it on ethereum first you can use your dapp on top of ours but only if we allow and share our resources with you on the chain.
This may differ on other chains as all chains have their own way of managing dapps.

D. | Satoshi Club:
Will people able to use your network on mobile devices as well? maybe you have some app in the development?

Ivan Morse:
Yes maybe in the future. Things are growing fast in the blockchain world. Nothing is sufficient enough with respect to time. We’ll also be increasing our ecosystem with respect to time and opportunities.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @highpee
As a privacy coin, don’t you think listing on CEX will defeat the objective of the project since CEX can be regulated and anonymity cannot be maintained? And will this mean that your coin will only be needed for wrapping other coins and not available for trading?

Samuel Morse:
This isn’t really a concern since we will work cross-chain while exchanges may only implement our ERC20 versions on their exchange.

Q2 from Telegram user @wonderkit
Is the name Morse derived or inspired from Morse code and is the Morse project friendly to new users or easy to use?

Samuel Morse:
Yes, Morse is originally from Morse Code. The project will be extremely user friendly as that is our primary goal.

Q3 from Telegram user @csgonub
For creating high liquidity into the ecosystem multiple blockchains can be good. Do you support multiple blockchains?

Samuel Morse:
Yes, we will support all major chains.

Q4 from Telegram user @palamemo
Due to bad events, investors are very sensitive about smart contracts. Has the Morse Network smart contract been audited by secure and well-known institutions? If so, would you share the result with us?

Samuel Morse:
We currently are undergoing audits and will post the results publicly once they’re available.

Q5 from Telegram user @dumpspump
Are there any working live products right now or is it still in the project phase?

Samuel Morse:
The privacy tech is working which is the hard part. As far as platforms the first one will be released within the next few weeks and we anticipate one every few weeks after that.

Q6 from Telegram user @Safanuri271
Why i invest my hard-earned money in your platform when I’m seeking that many people lost money due to rug pull done by various projects specially the Defi project what unique feature you offer for me so I ensure your platform protects my money and prevent these rug pul?

Samuel Morse:
We will be locking liquidity so there will be no way to pull the rug.

Q7 from Telegram user @babicanB
Morse Network will use 50% of the token’s total supply for rewards. Isn’t this rate too much? Why did you plan such a mechanism?

Samuel Morse:
Ensuring rewards for providing liquidity incentivizes the adoption of the ecosystem.

Q8 from Telegram user @KeymerS
I have observed that projects looking to implement privacy use “zk”, but is it really the only technology that can achieve this “privacy”? or there are many more technologies but they are not as efficient as ZK?

Ivan Morse:
There are many but zero-knowledge is best as it eliminates everything which can trace a user making a transaction. The proof is generated by our circuit and is only verifiable by ours. The user doesn’t have anything related to the creation and validation of zk proofs.

Q9 from Telegram user @Eliasbb
Without good funding, you can’t able to keep the process of development running. So, will you run a pre-sale? Do you have such a plan?

Samuel Morse:
We are currently. You can read more about it or participate in morse.network/presale

Q10 from Telegram user @Astonroe
After sending ETH if somehow token do not come into my wallet what would I do? Whom can I connect for these kinds of situations?

Samuel Morse:
You would go to our telegram chat @morsenetwork or our discord chat https://discord.gg/wcC4kF26cp for help with those types of issues.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Morse Network. They’ve prepared 4 questions for this part. The total reward pool for the 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:
Morse Network Community: https://t.me/MorseNetwork

PART 1. Introduction of Stone project and community questions.

Hello, Satoshi clubbers and guests of this site. Today we talking about a project that helps you sleep well at night, because, this is the yield aggregation protocol that earns crypto for you. 

Stone designs the first liquid POS farming strategy in DeFi, with staked ETH 2.0.

The plan of AMA session:

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

The reward pool is 1500$

Leading the AMA our clever and fun admins:

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

The Representative of the project:

Alex Stone – @Alexlam2013 – Project lead of Stone. Have been in Crypto for more than 7 years.

Sara | will never dm u first for funds – @cryptooosss – community manager at STONE 

Stone Golem – @Stone_Golem – A crypto guy since 2016, based in Singapore and US.

Introduction of Stone project

Mary | Satoshi Club:

Hello Satoshi Club! We are happy to announce our AMA session with Stone! Welcome to Satoshi Club😀

D| Satoshi Club:

Hello everyone 👋

@Stone_Golem @cryptooosss @Alexlam2013 @PJ:_WN hey guys! Welcome!

How are you doing? 😇

Stone Golem:

Hello! @Cool_as_Ice thanks for having us here

Mary | Satoshi Club:

Welcome to Satoshi Club 🎉

Alex Stone:

Hi everyone, it’s a warm family.

Stone Golem:

Pleasure is mine.

Mary | Satoshi Club:

Today we want to know about the Stone project as much as possible 😀 But, guys, let’s start with your intro😀

Stone Golem:

I got my pillow with me beside my laptop. Happy to share what we are working on!

Mary | Satoshi Club:

We won’t let you sleep 😂

D| Satoshi Club:

So guys please, introduce yourselves 😊

Alex Stone:

this is Alex, project lead of Stone. I have been in Crypto for more than 7 years.

Mary | Satoshi Club:

Seven years, it’s a solid term👍

D|Satoshi Club:

Yeah 7 years, it’s a lot, almost since the beginning.

Sara | will never dm u first for funds:

Sara here😌 community manager at STONE, any AMA proposal or project-related could reach out to me

Alex Stone:

Yeah, just experienced cycles of the market.

Stone Golem:

Hi guys, my name is Stone Golem. A crypto guy since 2016, based in Singapore and the US. I am one of the early backers of Rockx. Together with Rockx and a few other guys, we came up with the idea of Stone to help all DeFi guys like us to sleep well at night, get rock solid yield and explore new yield-bearing assets in DeFi.

Mary | Satoshi Club:

Yes, a nice idea😀I can tell, that I still have sleepless nights) how Stone project plans to help us?

Mary | Satoshi Club:

Do you still mine BTC?

Stone Golem:

STONE is the only yield management protocol focused on creating a “Rock Solid Yield” for all the users in the DeFi ecosystem. Stone is positioned as the anchor yield aggregation platform that aims to expand the current DeFi yield market and include the yields from the staking assets. As the beginning of yield market is positioned at erc20 assets, which still takes a small portion of the whole crypto market cap, Stone is uncovering the opportunities into phase 2 at the Proof of Stake (“PoS”) assets, and Stone has the vision to be the global yield marketplace with the inclusion of multi-chain PoS assets.

To leverage the capability of substrate and Polkadot, Stone is also looking to provide more innovative products based on a wide range of yield-bearing assets to users across multiple blockchains.

Mary | Satoshi Club:

Nice plan. What about its realization?

PJ:

Hey, this is PJ, am part of the stone builders and helping coordinations! look forward to discussing more with you guys!

Stone Golem:

Alex and I have been mining BTC for years, where we see a lot of similarities with Defi, the hates and the loves

Stone Golem:

In simple terms, I like to tell the community that stone is introducing the long-waited rock-solid yield to the crypto world, through new assets (yield-bearing assets), new strategies (like cross-chain strategies, liquid staking strategies), and new products (something we look at interest product in the future)

D| Satoshi Club:

Do you have big plans to work with other blockchains as well? not only with Ethereum?

Stone Golem:

Yes, we are still mining BTC in an industrial manner, professional farms, proper trading strategies to hedge risks, etc. It has been a nice ride for us

D|Satoshi Club:

Cool, cool the real BTC miners in the chat 😁👍

Stone Golem:

To really deliver rock-solid yield to our community, the first thing we are going to do is to introduce stablecoin strategies without IL and other risks with curated partners. Then we are going to expand our yield farming horizon by tapping into liquid staked markets. This is a market bigger than the current DeFi space.

Stone Golem:

Think about how many ETH have been staked for ETH 2.0. If we unlock that liquidity, make use of their inheritance yield. that’s a rewarding market for users

Mary | Satoshi Club:

Got it 👍

Stone Golem:

you are absolutely right. While other yield aggregators are developing riskier strategies on new protocols on Ethereum or taking more leverage, in order to get a decent yield. Stone is avoiding the rat trap, by tapping into Non-Ethereum assets, like liquid staked assets (Dot, Solana, Oasis, etc). In this way, Stone will create a decent yield for users without taking too many risks.

Our first partnership with Ramp was true to forge that technical force to tap into non-Ethereum staking markets.

Mary | Satoshi Club:

Thank you, guys, for your intro😀 it was informative! Ready to go to the questions from our community?

Stone Golem:

Absolutely.

Preselected questions about the Stone project.

D| Satoshi Club:

Let’s go it! 🚀🚀🚀

Q1 from Telegram user @nata_jakarta

Your first strategy to be implemented will be regarding Ethereum 2.0 How would put this strategy into practice since ETH 2.0 blockchain is not fully functional yet?

Stone Golem:

A really great question! ETH 2.0 is indeed still at a nascent stage. Why we are tapping into it? because it’s a natural extension of DEFI on Ethereum and it is the trend for the future (Ethereum will become POS gradually).

How do we achieve that? We approach it through two steps. First, we work with partners we are liquid staking providers to get users to stake their ETH for ETH 2.0, and in return get an ERC20 token as a representation of their staking assets, say aETH or vETH, etc.

This is the first step to have a record of the staked assets onto Ethereum.

Once that is done, Stone will establish pools to make those liquid staked assets useful on Ethereum. If aETH has no trading market or lending market on Etheruem, it won’t have any value. That’s what Stone is providing value to the community

Mary | Satoshi Club:

Which partners you are liquid staking providers too? Can you name them?

Stone Golem:

Our partner list is growing really fast. simply because we are solving one big issue for liquid staking providers, their tokens need to be liquid for trading or lending. That’s where the yield farming part of Stone comes in.

By rewarding the community on liquidity provision for liquid staked assets, we will make it a real liquid asset like ETH on Uniswap.

The public announcement we have made for partners include Ramp and Ankr.

Mary | Satoshi Club:

Good partners😉

Stone Golem:

One philosophy Stone has adopted is tirelessly curation. We have looked closely at these providers and make sure we only work with the good ones.

But this is only the very beginning for ETH 2.0. we will onboard more partners for ETH 2.0 and gradually for other assets like Polkadot and others. that’s gonna be a long list

Mary | Satoshi Club:

Off-topic question. what does your logo mean?

Stone Golem:

You mean this?

Mary | Satoshi Club:

Yes

Stone Golem:

Or my beautiful profile pic?

Mary | Satoshi Club:

Logo😂😂😂

But your picture is nice.

Stone Golem:

HaHa, just kidding.

D| Satoshi Club:

Will you have your own token? because I didn’t find any information about it.

Mary | Satoshi Club:

I don’t know why, but pos and your logo remind me about posw project 😂 if someone remembers it.

Stone Golem:

Our logo is a hollow S on a stripped stone pattern. Yes, there will be a token STN for sure. Why does Stone need a token?

Mary | Satoshi Club:

And sale?😉 Pre-sale?

D| Satoshi Club:

Good question😉

Stone Golem:

The Stone token (“STN”) is the native utility token of Stone Protocol, which acts as the central part of the incentive structure of the Stone DeFi ecosystem and interests of all ecosystem participants.

STN As Cornerstone: STN token is the governance token that will play a crucial role in the Stone ecosystem. STN’s primary function is for protocol governance and it is further empowered to reward liquidity provision during the bootstrapping (each pool would have its dedicated STN rewarding scheme to build up sufficient size) and more interestingly, STN will be used to incentivize portfolio rebalancing (for example, STN reward may be higher for the certain pool to attract more funds there in order to maximize yield farm),  pay transfer fees for the cross-chain execution and act as the security deposit to safeguard funds in the liquid staked assets.

The stone platform will launch multiple vaults and strategies, the way to maximize users’ returns is through STN to rebalance the TVL of each pool

And to ensure that liquid staking providers can cover slashing risks, we will require them to put STN as a security deposit on Stone

And ultimately, Stone will pass on the control and future direction to the community, hence STN will act as the governance token for people to vote on protocol level decisions and vault level as well

D| Satoshi Club:

Nice, I see you have lots of functions for your token and how you will distribute it? will you run a presale or airdrop?

Stone Golem:

Late last year we received fund contributions from a few funds deeply involved in DEFI, including Arrington XRP Capital, Signum capital, long hash venture, and hyperchain capital, to name a few the fund is used to develop the alpha version of Stone and ensure everything is safe and sound in the future, we will launch a small public sale to distribute the tokens to community members, but more importantly, it will be mined through the launch of the alpha version. Users will be able to get STN by mining with Stone and without IL or concerns of losing funds!

Mary | Satoshi Club:

Thank you, it’s clear 😀 Ready to proceed?

Stone Golem:

Yes.

D| Satoshi Club:

Q2 from Telegram user @daviessss

It’s everyone’s wish to have low fees,  and there are already a number of projects that promise this. Please tell us exactly how will you ensure low fees, since the product that you’re building will work on Ethereum network?

Stone Golem:

We feel the pain as everyone else about the high gas fee. We have seen a lot of projects exploring layer 2, to make most transactions off-chain. We are not in favor of any centralized solutions to aggregator funds and deploy them elsewhere. it’s not safe for user funds!

Mary | Satoshi Club:

So, what is your solution?😀

Stone Golem:

Our ultimate focus is to ensure user funds safe and yield as rock-solid as possible. We are looking at layer 2 and also building on the substrate to leverage the cross-chain capabilities and low fees in the future

I’m not saying a low fee will take place on Stone in the first version. because the first version of Stone is for the community to feel the security of yield farming. We think that is more important in the DeFi space than new technical advancement can lower gas fee. Meanwhile, Stone aggregate capital deployment by tranches, the stone will monitor the gas fees, actually, we also plan to compensate the partial gas costs from the business income of stone in the future. Therefore, if TVL gets big on stone, the gas fee will be lowered for every user.

Done.

Mary | Satoshi Club:

I visited your site and found it there.

Can you tell us if coming soon have any timeframes?😉

Stone Golem:

Okay, we have shared in our recent medium post that we are going to deliver rock-solid strategies to our community. In fact, the stablecoin strategies have been ready for quite a while, and it’s now under internal testing. and a few liquid POS strategies are being built.

D| Satoshi Club:

Will Stone be working with layer 2 since the start? or you will add this function later?

Stone Golem:

Layer 2 will come later. We are taking a more conservative approach and focus on fund security and yield sustainability first.

We could launch it anytime but we decide to grow the community to a decent size before launching it. this allows us to cap each user’s fund (to limit risk) and deploy a meaningful size of funds to farm. If we can reach 5k to 8k users in our community, maybe you will find that website updated.

Mary | Satoshi Club:

Do you have competitors?😀

Stone Golem:

There are many yield aggregators in the space, YFI as the most well-known one. However, we have not seen one protocol that has prioritized rock-solid yield before anything else. Most protocols are trying out risky strategies for high yield while risking funds.

Mary | Satoshi Club:

I see, thank you😀

Stone Golem:

And we have not seen yield aggregators tap into liquid staking assets as Stone does. Stone is the first one to announce such an innovative strategy.

Stone will compete with YFI and others for stablecoins and ERC20 AUM.

However, none is there to compete with Stone for liquid staked assets, like DOT, ETH 2.0, etc. Done

Mary | Satoshi Club:

So, I think you have to launch as soon as possible 😉.

Stone Golem:

Yeah, with the help of the Satoshi Club, we might hit our target very soon.

Mary | Satoshi Club:

It will be an interesting competition. or start, or both👍

Stone Golem:

Our view is that the overall DeFi space is much bigger than the current one. We have right now stablecoins yield farming and ERC20 yield farming. these are like FOREX yield farming and stock yield farming.

But liquid staking market is like bond yield farming. In a traditional market, the bond is a much bigger market than stocks. and worth tapping into that in DEFI as well. Bond has a much more stable yield as well.

Mary | Satoshi Club:

Satoshiclubbers! Join @stonefortress !🚀🚀🚀

Stone Golem:

Mary | Satoshi Club:

Ready to proceed?

Stone Golem:

Yes!

Mary | Satoshi Club:

👍 Right.

Stone Golem:

POS market cap over 200bn USD. No one shall overlook it. the average reward is close to 10% as a basis. DeFi TVL is at around 23bn USD.

|D Satoshi Club:

Q3 from Telegram user @reidman_rosa

I have read that users will be rewarded on the platform with tokens + interests from lending. Please explain more about this process. Is it similar to the Venus app?

Mary | Satoshi Club:

Incredible numbers🧐

Stone Golem:

How Stoneworks is like this, the user deposits his/her fund into a specific strategy. Those funds will be deployed into a lending platform or another DeFi protocol for interest income. We do not touch trading pairs because of the unpredictable IL (it does not fit into the rock-solid yield principal). And to reward users using the Stone platform, STN will be rewarded to the user as well. STN will be reserved for each pool to balance AUM across the portfolio. Done.

Mary | Satoshi Club:

As I understand platform is ready. What about its safety?

Stone Golem:

The overall platform architecture was inspired by YFI a lot. we totally agree with the idea of using smart contracts to control fund flow and set authority clear. Before launching, we have been using our own funds to test out the platform.

Meanwhile, we have been speaking to a few code auditing firms (e.g. slowmist and peckshield) to make sure the platform is safe

D| Satoshi Club:

Those are respectful firms.

Stone Golem:

If our community is too eager to try out, we may launch an alpha try out before code auditing, while limiting each person’s fund, and of course, each user will be rewarded with STN in the future

Mary | Satoshi Club:

Thank you, your answer was faster then my question 😂 Stones are fast nowadays 🤣

Stone Golem:

It keeps rolling, that’s why.

D|Satoshi Club:

Thanks for the answers! ready for the next question?

Stone Golem:

Yes.

D| Satoshi Club:

let’s go!

D| Satoshi Club:

Q4 from Telegram user @Mark_mitroglou

Your main idea regarding the index services is to have a risk optimized strategy and to be Sharpe ration efficient. How would you describe this strategy in a more simple way, for simple users which are not experts

Stone Golem:

We introduce the concept of Sharpe Ratio, by looking at both the yield itself, and also the risks associated with that yield. That includes the longevity of yield and also the risks of the platform itself. Stone won’t go into new protocols because APY is high, but will assess it’s credibility and how sustainable that APY would be.

We introduce an index to hedge the risks of single assets, and Stone will be able to deploy the underlying assets to generate additional yield for index holders. Done.

Mary | Satoshi Club:

Do you have any articles which describe Sharpe Ratio?

D| Satoshi Club:

Thank you for your clarification. Yes, the article would be helpful.

Stone Golem:

To make it simple terms, the sharp ratio is one guided tool for risk adjust allocations, don’t only look at APY but overall assessment. We will publish an updated litepaper soon, with more mathematical explanations of Sharpe Ratio and portfolio rebalancing

Welcome to discuss with us in-depth if anyone is interested.

Mary | Satoshi Club:

Thank you, I see our members from some local groups are really interested in this😉 Ready to go to the next question?

Stone Golem:

To throw a new idea for Sharpe ratio, maybe we can look at time dependant Sharpe ratio rather than static, we are working on some new Algos haha

Stone Golem:

Yep

D| Satoshi Club:

Q5 from Telegram user @sato_nakamo

You say that you are a DeFi platform-agnostic to liquid staking providers. What does agnostic to liquid staking providers mean?

Stone Golem:

let’s take staked ETH for ETH 2.0 for example. a few liquid staking providers have been working on it, let’s say they are aETH, bETH, cETH. Stone can support all these providers so users can deposit these tokens onto Stone. in this case, Stone will help to grow the liquidity of aETH, bETh, and cETH respectively

And to make it more interestingly, these tokens have fragmented liquidity for trading, Stone will have a mechanism to consolidate these liquidities into one trading pair and let people trade it easily and with confidence. Done.

Mary | Satoshi Club:

It’s a really interesting concept, will be really interesting to see how it works. Btw, will your platform be friendly to users who don’t have a lot of funds?😀 Or it will be just for large investors?

Stone Golem:

Yes, Stone helps users with small funds as well, as we explained previously, we will deploy funds by tranches, meaning we will aggregate small funds together and deploy in one shot, in this way, we will save on gas fee, and individual users will be rewarded fairly based on their funds. Done.

D| Satoshi Club:

Thank you! let’s do the final question from part 1 😉.

Q6 from Telegram user @piccoloclub

How will your DAO governance work? Can you tell us more about it, especially I’m interested in how will it provide protection from users that will hold a lot of tokens and will try to influence the decisions unilaterally? Thanks.

Stone Golem:

This is a really really great question. Every blockchain governance is a social experiment. All DAO governance are facing the same issue with the strong influence from whales, that is how we will take this question, first of all, Stone is backed by some selected VC partners that we have alignment to work for long term horizon to do good for the community secondly, for our launch, we do think to implement a cap on the funding deposit per user to widely distribute the tokens, thirdly, we do our best to coordinate and open discussion to address this.

This is why we have not launched the token but engaged with so many AMAs to grow our community and also with a capped alpha test for users to start the process

Mary | Satoshi Club:

Will you reward your users for activities?😀

Stone Golem:

Yes, we have reserved a number of tokens for community contributors, and also marketing & partnership. In addition, a large part of tokens is reserved for DAO governance in the future.

Mary | Satoshi Club:

Got it, it will be a good insensitive for your members😉 Ready for a storm of questions? Let’s see how strong is a stone🤣

Stone Golem:

let’s let the party continue!

D| Satoshi Club:

Mary | Satoshi Club:

Let’s go 🚀

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

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Stone crypto project choose the top 10 questions. The 15 crypto enthusiasts have earned cryptocurrency in the sum of 150$.

Q – 1 from a telegram user @PyaraLarka

Is #StoneDefi is safe for crypto investors?

Stone Golem:

Sure we are focusing on Rock Solid Yield.

Q – 2 from a telegram user @eberthFC

I really like that they involve the community to create a great project. How will you reward these brilliant minds that contribute their bit to the project? … obviously apart from having at your disposal an incredible platform? 

Stone Golem:

We will release a plan for contributors soon. for example, you can work with the team to develop new strategies, contribute to code development, help grow the community, working on marketing initiatives. there will be plenty of ways to do so. becoming active on governance issues.

Q – 3 from a telegram user @Amila19932

How this “SOLID” word came to the STONE project? Is there any special meaning for SOLID? Or any other reason to use the SOLID word?

Stone Golem:

Q – 4 from a telegram user @leixagarcia

I didn’t get your roadmap information on your website. What are Stone Protocol’s plans for this year? When will your app launch?

PJ:

Thanks for the question, as previously mentioned, Stone has done the development of the stable coin strategies (passive income vaults), and currently working on the liquid ETH2.0 strategy development, we expect to launch the alpha version of the App either at end of Jan or early Feb. in the meantime, we are talking with other partners to conceptualize the new products. For this year, Stone will have another significant milestone to build products in the Polkadot ecosystem to integrate with the substrate. Stay tuned for our website, we will also update the website with more information on the roadmap!

Q – 5 from a telegram user @feranno

What kind of partnerships can we expect from Stone with different platforms or projects in the future? How can other platforms and projects benefit from Stone?

Stone Golem:

Starting with ETH 2.0, let’s build the Liquid Staking Yield Farming market together
What we are describing here is a new type of yield generating assets and new types of strategies on DeFi. It is a “blue ocean” to grow the yield farming space exponentially. Stone calls for all stakeholders in the ecosystem to work together on this exciting opportunity
– ETH stakers.
If you are an Ethereum supporter, who have or plan to stake ETH for Ethereum 2.0, please follow Stone on the latest strategies on how to create yield for your staked ETH.
Join our community to let us know how we can create additional yield and bring peace of mind to you
– Ethereum staking providers
Stone can design strategies to make yield for the liquid staking tokens issued by staking providers. By working together, we can jointly ensure the security of the staked ETH. Build a standard to let various staked ETH as liquid as one.
– Decentralized exchanges
With the new type of assets emerging, let’s build a large liquidity pool for these tokens on DEXs. Just like how we grow the stablecoin trading space successfully for anyone to get access to stablecoins.
– Lending protocols
Stone and lending protocols can work together to create a lender/ borrower market for liquid staked ETH and in the future other staked PoS tokens.
– Derivatives protocols
Staked tokens (similar to an interest-bearing bond) provide a great opportunity to build yield derivative products for users with different risk appetite and reward expectations.

Q – 6 from a telegram user @lzamg

You mention the weaknesses of other DeFi Yield Generation projects and one of them is the weak dev team. So can you tell us a little about the current members of the development team of Stone and their experience in the crypto space?

Alex Stone:

Yes, RockX engineers are part of the dev team of Stone, RockX is a great PoS platform, for instance, PolkaDot, Terra, Oasis, Kusama, Iotx, etc. RockX team delivered grants for Oasis, Algorand. Other engineers are from big tech companies, like BAT.

Q – 7 from a telegram user @dotun001

What real-life incentives will STONE DEFI bring into DEFI and Pos ecosystem?

Stone Golem:

Stone DeFi will help to build a large trading pair for staked ETH/ ETH so that users can easily cash out their staked ETH as they wish. In addition, Stone Defi will create a vibrant lending market for staked ETH, just like how wBTC market was established on Ethereum

Q – 8 from a telegram @rhedd

Some of the new build platforms and projects Are More determined to enhance the Mechanism of Staking, Dapps & Consensus Algorithm Work, What about the Stone Protocol itself? Is There a Plan for Stone Protocol Future Development?

PJ:

Thanks for the question, this is definitely common in the current DeFi market while many projects are launching the staking & locking mechanism first or even only for the community, Stone is to launch the first passive income vaults around stable coin strategies, where users can start putting funds into for yield farming while we will also reward users for the fund deposits, thus our approach is product first but then we definitely will also launch the STN token taking and liquidity provision incentive, but we are moving forward in the organic growth between products and platform tokens.

Q – 9 from a telegram user @alptrader

You created the Stone project on Ethereum ERC-20 blockchain but there are more blockchains growing rapidly right now. Are you creating any bridges for them for higher coverage?

Stone Golem:

We are working with liquid staking providers to bring assets onto Ethereum. In the future, Stone will build more functionalities on the substrate, where we leverage the cross-chain capability to bring in even more assets. We are keen to work with interlay on the substrate to bring BTC onto Polkadot.

PJ:

Just to add, we will also explore the products that may fit into the Parachain auction soon within the Polkadot ecosystem.

Q -10 from a telegram user

Deleted

Stone Golem:

1. A platform focusing on rock-solid yield to safeguard your hard-earned profit. 2. bring in cross-chain assets onto DeFi. 3. unique farming strategies to make sure of yield-bearing assets.

Q -11 from a telegram 

Deleted

PJ:

STN As Cornerstone: STN token is the governance token that will play a crucial role in the Stone ecosystem. STN’s primary function is for protocol governance and it is further empowered to reward liquidity provision during the bootstrapping (each pool would have its dedicated STN rewarding scheme to build up sufficient size) and more interestingly, STN will be used to incentivize portfolio rebalancing (for example, STN reward may be higher for the certain pool to attract more funds there in order to maximize yield farm), pay transfer fees for the cross-chain execution and act as the security deposit to safeguard funds in the liquid staked assets.

Q -12 from a telegram user @leixagarcia

Is the $STN an ERC-20 token? What blockchain will you work with?

Stone Golem:

STN will be ERC20 as the first version of Stone protocol will be on Ethereum. in the future, it might migrate onto Polkadot with the cross-chain bridge.

Q -13 from a telegram user @Indomiekuy

How did you convince us a community that Stone is a long-lasting project? where did Stone Project receive their fund for development?

Stone Golem:

First of all, Stone did a small round of fundraising with reputable funds, this is to ensure that the contributors and the tech team (rockx) have sufficient funds to build the platform and keep improving it. Secondly, the tokenomics vest the tech development token for three years, to ensure the tech team and community are aligned in interest. thirdly, over 18% of tokens will be locked for the community to decide, this is the way for the future DAO to have sufficient fund to make forward-looking decisions.

Q -14 from a telegram user @Manuanuragck1

How do you plan to spread awareness about your project in different countries/regions where English is not spoken well like Indonesia Vietnam and so on. Do you have local communities for them to let them better understand your project? And no need for this.

PJ:

Yes, we are building out the local communities like in Vietnam, Indonesia, actually we are speaking with some partners to start marketing in those areas as well. in addition, we have been approached by some local DeFi projects that like to be integrated with Stone, which can also help us on the local brand building. welcome more partners to be onboarded.

Q -15 from a telegram user @MrGembel23

From technological and commercial perspectives, how can traditional companies be integrated into the blockchain? What are your plans for traditional companies that continue to exist with their own systems?

Stone Golem:

This is exactly the point of rock-solid yield, only with a strong platform with rock-solid yield, can we work with a fund of funds or insurance companies to convince them to deploy capital onto Stone. This will be a game-changer as no Defi protocols have managed to work with them.

Q -16 (Bonus) from a telegram user @KASG95

If Stone’s yield farm is totally solid, it won’t really be necessary to make changes to its structure in the coming years, right? So they won’t implement community governance either, right? why the community can vote and change what they want and when they want right?

Stone Golem:

Theoretically, you are right, however, as you know, the DeFi space is changing really fast. What may work now may not work in the future. And a lot of black swans happens along the way. that’s why a proper governance model is required to drive changes and ensure the SOLID principals are in place. in addition, with new opportunities pop up, we need a community curation to identify the proper opportunities.

A bonus answer for the lovely community.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Stone project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 1200$ 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: Stone

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