Month: January 2021

We are very pleased when the projects return to Satoshi Club with incredible achievements and news. And today we would like to tell you about the AMA session with our friends from Stacks. The AMA took place on January 7 and our guests were Rohan Ӿ and Stacks Joe.

The total reward pool was 200$ and has been splitted in 2 parts.

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

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

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

D. | Satoshi Club: hello everyone! 👋@rohanshr @joebender welcome to Satoshi Club! 😁

Rohan Ӿ: Hi everyone! It’s great to be here 🙃

Mary | Satoshi Club: And we are happy to see Stacks back to Satoshi Club 🚀

Stacks Joe: Hi there, Everyone! Pleasure to be here!

D. | Satoshi Club: i bet you have plenty of news since the last visit in our club? 😉

Stacks Joe: You know it! SO much goin on 😁

Mary | Satoshi Club: Tell us, please

Rohan Ӿ: 7 days till Stacks 2.0 mainnet launch. Don’t forget to RSVP: https://stacks2.com/register we have great speakers such as Pomp, Meltem, Muneeb, etc.

Stacks Joe: Yup! Right now it’s heads down til the mainnet launch! Stacks 2.0 blockchain is a layer-1 blockchain that uses the Bitcoin blockchain as a secure base-layer to bring predictable smart contracts and decentralized apps to Bitcoin. Bitcoin is minimal by design and is meant to not change, but Stacks extends the capability of Bitcoin to enable smart contracts and apps without modifying Bitcoin and with minimal transaction load on Bitcoin. Thousands of Stacks transactions result in a single hash at the Bitcoin blockchain, and Stacks microblocks offer fast confirmations of streaming blocks.

Rohan Ӿ:

• 

Some of the speakers 🙃

Mary | Satoshi Club: A lot of famous names! Guys, you rock! Btw, i remember you like Blockctack 😉 can you also tell us about this changes)

Stacks Joe: Yeah! So recently Blockstack PBC became Hiro Systems PBC, or just Hiro (pronounced he·ro), and our primary focus will narrow to providing developers the tools they need to build this new internet on Bitcoin. This change comes as our work on the Stacks 2.0 public infrastructure winds down and the Stacks ecosystem continues to decentralize and grow. The Blockstack PBC, soon Hiro, team has long believed that developers are the key to our mission and upon Stacks 2.0 launch, we’re excited to focus on their needs as they build apps and smart contracts on Stacks 2.0. 💪

D. | Satoshi Club: sounds awesome! smart contracts on Bitcoin, just wow!

Stacks Joe: So so excited for the launch event. Gonna be jam-packed with great speakers, announcements, and prizes!

Mary | Satoshi Club: I will definitely follow this event!

D. | Satoshi Club: we can’t miss this! :+1:

Q1 from Telegram username @forwards123

You are a layer 1 blockchain. One of the pioneers. Now I see that it will or possible to build apps and smart contracts on Bitcoin. Why on Bitcoin? It is a slow blockchain for this kind of things

Stacks Joe: Great question! Bitcoin is the original innovation that started the entire crypto industry. It has some of the most sophisticated core developers. There are many projects that are reckless and don’t understand why Bitcoin developers make certain design decisions and they wrongly thing that Bitcoin’s limited scripting language or smaller blocksize are technical disadvantages. These are actually very sophisticated technical decisions that will ensure stability and durability for Bitcoin while other potential competitors fumble. There already is hashpower consolidation for Bitcoin and there might be more consolidation in the future. After 10+ years of production it’s quite clear that we have a winner for the reserve cryptocurrency and settlement layer for the entire crypto industry and it’s Bitcoin. No other system even comes close. So with that in mind, we want to further expand the Bitcoin ecosystem and innovate around the Bitcoin ecosystem for Web 3 and smart contracts instead of starting separate competing networks.
Our proof of transfer consensus mechanism extends the security of existing PoW chains like Bitcoin, and allows a new network to anchor to an existing PoW network. In the case of Blockstack, this gives the Stacks network similar security properties to Bitcoin from Day 1, while still allowing us to offer developer tools like Smart Contracts, without modifying BTC’s protocol.
We are VERY pro BTC…and so is our community. You can think of us as a giant gear attached to BTC that utilizes its power, we believe we’ll be the first of many.

Mary | Satoshi Club: Yes, you made a lot for BTC!) Does anyone ever said you’re not BTC believers?)

Stacks Joe: Haha, no not at all! But like our friend @forwards123 mentioned, there is skepticism that Bitcoin can scale and support a global payment infrastructure. Stacks 2.0 lays out the blueprint for how it’s actually possible using the proof of transfer consensus mechanism!

Rohan Ӿ:

Mary | Satoshi Club: Oh, i heard about this many times) but for me BTC is still a king! Thank you for what you are doing!

D. | Satoshi Club: so we won’t need Ethereum in the future with its crazy fees? 😄 😉 or developers will be able to build something different on Bitcoin by using your tools and smart contracts?

Stacks Joe: Many people compare Blockstack with Ethereum. You can think of Ethereum as a heavy blockchain that puts everything on chain, which makes it slow with a lot of traffic. Blockstack puts minimal logic into a blockchain and handles scalability outside of the blockchain by re-using existing internet infrastructure: which allows for better scalability and security. Our architectural design uses long established principles of distributed systems design: push all complexity to the edges. We use a blockchain only for what it is best at doing: establishing global state of the network, registering and confirming digital assets, and executing smart contracts

Mary | Satoshi Club: So, everything will be fast with Stacks? 😀

Stacks Joe: Absolutely! Every Stacks block is in lockstep with Bitcoin blocks. But the Stacks chain allows for microblocks, enabling much high transaction throughput before settling up on the Bitcoin chain. Kind of like state channels if you have heard of that concept before!

Q2 from Telegram Username @JesusFre1tes

OKCoin plans to include STX in the US and serve as a Stack 2.0 launch partner. What will be the key role OKCoin will play in helping $STX complete its historic compliance journey? Will OKCoin also facilitate user participation in the innovative stacking feature? What completely new way to earn bitcoins safely will it bring?

Stacks Joe: Yeah that was some really promising news that came out early December! The Stacks ecosystem and OKCoin share a deep commitment to compliance, protecting users, and maturing the overall industry. OKCoin is giving U.S. based purchasers secondary-market access to STX for the first time. Along with some of the lowest fees in the industry and direct fiat-to-crypto options for traders, OKCoin will also make it seamless for users to participate in the novel Stacking function.
OKCoin is one of the largest and most trusted fiat-to-crypto trading platforms in the world. Founded in 2013, OKCoin offers cutting-edge features for professional, high-volume traders and crypto beginners alike, enabling users in 184 countries worldwide to easily, quickly and securely exchange US dollars and the euro for numerous cryptocurrencies. We’re optimistic that getting the token in front of more consumers and US-based technologist will only grow excitement around the project, and catalyze the community.

Mary | Satoshi Club: Do you have some new partners, btw? Which is your last partnership?

Stacks Joe: I think something SUPER exciting was our announcement a couple weeks ago that the Stacks Blockchain API now supports Coinbase’s Rosetta Data standard and construction APIs. This gives our devs access to 15 new endpoints. Rosetta Data and Construction APIs. Combined, these APIs provide the ability to read and write information (e.g. blocks, transactions, and balances) to/from the Stacks 2.0 blockchain with a standardized format. It’s so important to support these open industry standards to make blockchain integrations more streamlined and faster.

You can read more about it here: https://blog.blockstack.org/the-stacks-blockchain-api-now-supports-coinbases-rosetta-standard/

Q3 from Telegram username @Antonerem

Your smart contracts will be built using Clarity programming language. Why did you need a “new” programming language and what mainstream programming language is Clarity closer to?

Stacks Joe: Clarity is a new language that brings smart contracts to Bitcoin. It is a decidable language, meaning you can know, with certainty, from the code itself what the program will do. Clarity is interpreted (not compiled) & the source code is published on the blockchain. Clarity gives developers a safe way to build complex smart contracts. The Clarity open-source project is supported by the Stacks ecosystem, Hiro PBC, & Algorand. It doesn’t even allow for a lot of the most high profile attack vectors we have seen around the industry (The DAO hack, Parity multisig exploit, YAM vulnerbility, etc.) As more most similar languages, Clarity is based on LISP. So it will definitely be familiar to a lot of blockchain developers and web2 developers alike!

Rohan Ӿ: Adding to Joe, Clarity is intentionally Turing incomplete as it avoids “Turing complexity.” This allows for complete static analysis of the entire call graph of a given smart contract.

Mary | Satoshi Club: Where developers can learn more about it? Do you have courses? 😉

Stacks Joe: Absolutely! Blockstack has produced a bunch of tutorials, demos, and workshops to help even beginners get started building in our ecosystem. Additionally, our community has stepped up big time and developed a bunch of resources on their own. The Clarity docs have a handful of super basic tutorials that will help you grasp the design principles of the language, such as the classic Hello World. A simple “Blockstack” search in youtube should turn up some great content. Our Discord is also a fantastic place to ask for assistance from more experienced developers. There is a great culture of collaboration, and users are always willing to lend a helping hand. I would start with our documentation though which has a bunch of great tutorials!

https://docs.blockstack.org/ 🧠

D. | Satoshi Club: do you think Clarity will be more and more popular amongst developers in the future?

Stacks Joe: We are hard at work now making the Blockstack ecosystem a great home for developers. The fact that Blockstack is very easy to use matters a lot here. It allows us to target developers who don’t have any blockchain experience. Regular application developers can easily create a blockstack app, and even leverage smart contract based business models. I think that developers are beginning to realize blockchain can be really hard. Builders are tired of waiting around for Eth 2.0 to arrive, or scalability solutions to surface. We know that Bitcoin is safe, secure, and here to stay. Therefore, enabling expressive applications, while leveraging the security of Bitcoin, is a game changer for developers. Blockstack learned lessons from other protocols and made improvements on scalability, privacy, and usability. Our smart contract programming language, Clarity, is approachable and easy to begin tinkering with. We ran a bunch of Hackathons this year that saw devs of all skill levels submitting powerful, robust smart contracts that showed off the potential of Stacks 2.0. We’re constantly hosting hackathons, bounty programs, and even giveaways like this that make joining the Stacks community a rewarding, fun, and collaborative experience.
https://blog.blockstack.org/bringing-clarity-to-8-dangerous-smart-contract-vulnerabilities/

Mary | Satoshi Club: Super:+1: no hacks with Stacks?)

Stacks Joe: Lol I love that. No Hacks with Stacks :heart_eyes:

Rohan Ӿ: That is 🔥

Q4 from Telegram Username @Highpee

Smartcontracts in Bitcoin have been difficult to implement as a result of the limiting factors of Bitcoin scalability (Bitcoin base chain transaction capacity is limited) and Bitcoin scripting language which may not be supported by general smart contracts thereby impacting secure contract design at the base security layer of Bitcoin. You intend to demystify this in stack 2.0 by implementing a unique algorithm that runs through two blockchains, thereby bringing Defi to Bitcoin. How will stack 2.0 implement this successfully without trading -off/compromising Bitcoin core design security and efficiency? How effective will Bitcoin Defi be, when compared to the already widely developed and popular Defi on Etherium?

Stacks Joe: There are two fundamental challenges to building apps and smart contracts on Bitcoin:

1) Scalability: The base Bitcoin blockchain has a limited capacity for transactions.

2) Secure contracts: The Bitcoin blockchain has a limited scripting language and does not allow general smart contracts. This design choice ensures security at the base layer.

The Stacks blockchain addresses the limitations of scalability and secure smart contracts and enables apps and smart contracts for Bitcoin. We do this through a unique consensus algorithm that runs between two blockchains. The Bitcoin blockchain functions as the settlement layer and source of truth while smart contracts execute on the Stacks chain. Enabling scalable smart contracts directly on Bitcoin has been a long-standing bottleneck, and the Stacks blockchain unlocks that functionality. We enable this without modifying Bitcoin, a critical design requirement for enabling such apps and smart contracts.

Rohan Ӿ:

Mary | Satoshi Club: He knew🤣

Rohan Ӿ: He surely did 🤣

Stacks Joe: Totally agree that the explosion of DeFi in the last year or two has been spectacular to see. People finally putting their crypto to work! At Blockstack, we love the cryptoeconomic magic that goes on behind the scenes in DeFi, and are trying to bring that to the Bitcoin ecosystem.
First, I’d almost say that the Stacking process is a sort of DeFi in and of itself! The fact that you can lock up $STX, and receive a base currency like Bitcoin in return, is a pretty cool cryptoeconomic mechanism. Second, the Clarity smart contract language is going to open up a whole world of dApps in the Blockstack ecosystem. Stacks 2.0 is the blueprint for building exciting things on Bitcoin. A trustless token exchange? Minting digital collectibles? Facilitating property rental? It’s all enabled with Clarity, and in a more secure implementation. To answer your question, DeFi is awesome, and it’s on Stacks 2.0 😄

Mary | Satoshi Club: Do you already have some apps?) Or developers who are ready to build? When first Satoshi DeFi on Stacks?🤣

Stacks Joe: Yeah we have been blown away by the developer activity the last year! During our app mining pilot we saw over 400+ dapps on the network: https://www.app.co/

Rohan Ӿ: Discover some of the apps and services built on Stacks, secured by Bitcoin here – https://www.app.co/

Stacks Joe: 2.1 million usernames on the explorer: https://explorer.blockstack.org/

Crossed 10,000 official Meetup.com members. Over 33,000 Telegram members across 24 groups, over 27,000 joined in 2020. So much promising growth! 🕶

Mary | Satoshi Club: It’s mind-blowing! But it’s just beginning, i am sure 😉

Q5 from Telegram Username @MaxiVV

How many phases does have Stacks 2.0 Testnet? I’m a little confused because you talked about 4 phases (Neon, Argon, Krypton and Xenon) in your website, but then making mention to a 5th phase. and, What are the differences between them?

Stacks Joe: These were the four testnet phases:

Rohan Ӿ: You can also check more on the testnet phases here:
https://forum.stacks.org/t/stacks-2-0-testnet-phase-2-argon/10887
https://forum.stacks.org/t/stacks-2-0-testnet-neon-is-here/10715

Stacks Joe: We staggered adding features and functionality so we could rigorously test each component as it was added to the network

Then! As of December 15th, Stacks 2.0 is “feature complete”. By feature complete, we mean that we do not anticipate adding any new features to the Stacks blockchain prior to the mainnet launch. All planned features are now implemented: pull requests are either already merged or are under review. We intend to use the time between now and the mainnet launch on testing, fixing bugs, improving performance, writing documentation and generally polishing any rough edges. We do anticipate some feature work to continue outside of core Stacks blockchain like the Explorer or the Stacks Blockchain API. Basically one last month of kicking tires, dotting i’s, crossing t’s, and making sure the network is 100% ready to go for the launch!

Q6 from Telegram Username @cengizhantekin

SEC has been creating big troubles for crypto world recently, and you already had an experience with them. Can you tell us your story with SEC please?

Rohan Ӿ: In July of 2019, the US Securities and Exchange Commission approved the application of the Reg A+ clause to the block stack to attract investments of up to 28 million dollars.
Blockstack has always taken a careful, well-researched approach to everything, including the R&D and technology but also regulations. We did the first-ever SEC qualified offering, and recent trouble of projects with the SEC (for example Telegram) is an example of why a careful approach is important. Same is true for the technology where we’ve taken a careful well-researched approach vs more experimental designs that may not work.
It helps with transparency and removing information asymmetery between general public and internal project. Also, SEC enforcements can be very problematic for projects (e.g., what we saw with Telegram and others). So doing things in a regulated way can be a healthier long-term strategy.

Mary | Satoshi Club: https://www.wsj.com/articles/sec-clears-blockstack-to-hold-first-regulated-token-offering-11562794848

Yes, you did what many failed to do🤣

Part 2 — live questions from the Telegram community

Q1 from Telegram user @x_Man_H

As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?

Stacks Joe: I joined the team right as the pandemic was accelerating, and was blown away by how unfazed the team’s development process was. We are fully remote at the moment, but with our international team we were already equipped and prepared to not be working in a physical location. Our engineers are heads down on testnet development currently, and I would guess that remote life has even helped with the programming sprints! Blockstack really cares about the safety and mental health of its employees, and has been extremely accommodating in ensuring the team feels comfortable and secure with whatever work modifications.
We’ve also doubled-down on our virtual event lineup. The last few months we have hosted numerous hackathons, workshops, town halls, and digital meetups. Our conference FuturePROOF was a massive success, and we’re planning an awesome Stacks 2.0 mainnet kickoff celebration. Certainly unprecedented times, but we are full steam ahead to Stacks 2.0 mainnet! You can register for the kickoff celebration here: https://stacks2.com/

Q2 from Telegram user @K2ice

I read that Stacks 2.0 implements a new mining mechanism called Proof of Transfer (“PoX”). Can you explain how this new mechanism works and why it is better than Proof of Stake and DPoS? When mining the STX token, what does miners receive/get in return and do all miners get equal share of rewards or rewards are shared based on the amount of STX committed?

Rohan Ӿ: Proof of Transfer is a consensus mechanism design that uses Bitcoin’s Proof of Work (PoW) to launch new blockchains that are anchored in Bitcoin’s security.
Further, PoX can give incentives to participants in such new blockchains in the form of earning Bitcoin. Such Bitcoin rewards were not possible before PoX.
These rewards can potentially be used for use cases like consensus participation, ecosystem developer funds, incentives for specific players, etc.
Proof of Transfer is more similar to Proof of Work based consensus than Proof of Stake. Just like with a Proof of Work network, Proof of Transfer requires spending something valuable in order to mint a new asset. Bitcoin requires miners to spend electricity in order to create BTC. The Stacks Chain and PoX require miners to spend BTC in order to create STX. You only need to go from electricity to digital value once.

Q3 from Telegram user @Pakhi06

Do I need technical expertise to mine stx?

Rohan Ӿ: Mining STX is really easy. Proof of Transfer and STX Mining work the same as Bitcoin, Miners spend something valuable to compete to mint a new digital asset, just in the case of STX Mining, that something valuable is Bitcoin itself instead of electricity. Because of this, all you need to mine STX is Bitcoin. There’s no requirements for special or advanced hardware. Right now on testnet mining is command line based, but that is the most technical it will ever be.

Q4 from Telegram user @leixagarcia

What is the Blockstack naming service? What is its function within Blockstack?

Stacks Joe: We rely on naming systems in everyday life, and they play a critical role in many different applications. BNS is a network system that binds names to off-chain state without relying on any central points of control. The Stacks V1 blockchain implemented BNS through first-order name operations. In Stacks V2, BNS is instead implemented through a smart-contract loaded during the genesis block.
Names in BNS have three properties:
>Names are globally unique. The protocol does not allow name collisions, and all well-behaved nodes resolve a given name to the same state.
>Names are human-meaningful. Each name is chosen by its creator.
>Names are strongly owned. Only the name’s owner can change the state it resolves to. Specifically, a name is owned by one or more ECDSA private keys.
The Stacks blockchain insures that each node’s BNS view is synchronized to all of the other nodes in the world, so queries on one node will be the same on other nodes. Stacks blockchain nodes allow a name’s owner to bind up to 40Kb of off-chain state to their name, which will be replicated to all other Stacks blockchain nodes via a P2P network!

Q5 from Telegram user @niccos96

How STX Trade empower investors, companies, developers, and its users to deliver impactful solutions and bring value to global people?

Rohan Ӿ: At the heart, blockstack is about creating a more secure and private internet, an internet where users can own their own identity and data. The platform has had the capability of supporting these dapps since 2017, and there are a number of examples you can see at app.co. Stacks 2.0 and the STX token really give these dapp developers the power to introduce innovative business models. Involve their users in the early bootstrapping process, and more. I think Stacks 2.0 will provide the final developer tools needed for a dapp to eventually reach wide adoption.

Q6 from Telegram user @idontwannabehornyanymore

What are the main needs that Blockstack PBC has satisfied? And what are the benefits that the bases bring when dividing?

Stacks Joe: There are two core problems we’re trying to solve
(a) a way to scale web 3 apps to hundreds of millions of users and
(b) provide verifiable contracts.
These two are major bottlenecks to Web 3 adoption. Currently Web 3 apps can’t scale to hundreds of millions of users and we were able to solve that problem over years of R&D and systems design. Blockstack creates software for a user owned internet, that enables a new generation of applications where developers and users can interact fairly and securely. Blockstack uses blockchain technology to build protocols and developer tools designed to enable a fair and open Internet that returns digital rights to developers and consumers.

Q7 from Telegram user @BERTA2020

With your new update is there any way for developers to create tools in BlocksTack?

Rohan Ӿ: Yes you definitely can! To build dapps on stacks blockchain: https://docs.blockstack.org/. And join blockstack discord channel to see what’s everyone working on! https://discord.gg/TqQsv3xt

Q8 from Telegram user @hieulaptop

What is a special competitive advantage your project with other competitors?

Stacks Joe: I don’t think that there is any project that is very similar to Blockstack and I’m actually a bit surprised by that. For example, if you look at the list of projects that have (a) WASM as the way to do smart contracts, (b) work on sharding, and (c) have PoS as consensus. You’ll get a bunch of projects that do all three.
But we don’t support WASM (have specific Clarity language), are not in the PoS camp, and do not look at sharding stuff for scalability. There are aspects of Blockstack where there is overlap, let me give an example:
Clarity as a language has design principles that are seeing more adoption by other projects vs say Solidity. So you can find smart contract languages that are closer to Clarity (not exactly like it but more in the direction of Clarity than Solidity, even FB’s Move language is like this). There are some tools/services in the Ethereum ecosystem that try to simplofy auth and storage similar to Blockstack e.g., 3box.
So if you compare to a project like Polkadot, we think that Bitcoin will be the base/settlement layer for Web 3 vs a newer protocol. And other chains like our Stacks 2.0 chain will interconnect with Bitcoin. So a bet on Blockstack is a bet on Web 3 on Bitcoin and a bet on DeFi on Bitcoin which is quite unique in the current landscape of Web 3 protocols, most of which are trying to build separate disconnected networks.

Q9 from Telegram user @lchongthu

Will there be minimum amount for stacking?

Rohan Ӿ: Here are some numbers on 764M liquid supply:
25% participation at 764M is 38,200 STX, rounds up to 40K
50% participation at 764M is 76,400 STX, rounds up to 80K
100% participation at 764M liquid STX is 152,800 STX, rounds up to 160k
The rounding is currently not coded yet but the default proposal is to only round up. Other options being discussed for rounding.

Q10 from Telegram user @DrCassiterite

Do u need big devices or machines to do stack mining ?

Rohan Ӿ: There’s no requirements for special or advanced hardware. Right now on testnet mining is command line based, but that is the most technical it will ever be.

Q11 from Telegram user @Nickkiii

I noticed you been having aggressive marketing in the last few days, where can I get the full schedule for the Stacks 2.0 mainnet launch event?

Stacks Joe: https://stacks2.com/register#schedule 😉

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PART 1. Introduction of Tosdis project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project called Tosdis.
This project providing The One Stop Defi Interoperable Solution powered with Liquid Betting.

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

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

The Representative of the project:

Mamoon Yousaf- @MamoonYousaf – CEO & TOSDIS Foundation member

Ryan Doeschate – @RyanDoes  – Tech lead Tosdis.

Madeleine Nilsson – @madeleine_n – Co-Founder at https://313.agency and Tosdis.finance. Marketing @Tosdis

Introduction of Tosdis finance project

Mary | Satoshi Club:

Hello, again Satoshi Club! We are happy to announce our AMA session with Tosdis! Welcome to Satoshi Club😀

Gold Rocket | Satoshi Club:

Good evening, dear community!

We conclude our today’s AMA marathon series with Tosdis. Today our guests are @MamoonYousaf, @madeleine_n, @Cryptoriko Ryan Doeschate:

Hey guys, thanks for having us here.

Mary | Satoshi Club:

Hello! And welcome😀

Gold Rocket | Satoshi Club:

Thanks for joining😊

Mary | Satoshi Club:

How was your day?

Madeleine Nilsson:

Hello all. Thank you for having us here today.

Mary | Satoshi Club:

You’re welcome 😀

Mamoon Yousaf:

Hello everyone!

Mary | Satoshi Club:

Welcome!

Gold Rocket | Satoshi Club:

Welcome to Satoshi Club, @MamoonYousaf, @madeleine_n, @Cryptoriko ❤️

Madeleine Nilsson:

Thanks.

Ryan Doeschate:

Thanks for inviting me.

Mary | Satoshi Club:

Guys, could you please introduce yourself and Tosdis project 😉

Ryan Doeschate:

Hi everyone, My name is Ryan. I am a software engineer since the early 2000s and entered the blockchain space in 2014 to be precise. I have been managing remote teams around the globe and have built numerous DeFi projects in the past few years. Personally, I love to work on JS Stack, but I play with python as well. Blockchain is a pretty exciting thing to work on and solidity is my favorite language for this. I am a team player and known for completing milestones in time.

Mary | Satoshi Club:

Great background! So, you’re exactly what Tosdis needs👍 Thanks! Great experience 👍

Madeleine Nilsson:

Sure, I am the Marketing lead at Tosdis as well as a Tosdis foundation member.  I have been in the crypto space for the last 3 years whereas in the marketing field for the past 5 years. I run my own marketing agency.

I am an experienced digital marketing expert, a hardworking, self-motivated individual, and well versed in providing assistance, support, coordination, and executing global digital marketing campaigns. A dedicated, loyal, and dependable person with a vibrant, upbeat personality and possess excellent communication skills.

I am the founder of the 313 Agency, which is a marketing agency. I have been running it for the past 2 and a half years. I have worked both with Crypto and non-crypto projects. All of my other projects have been in stealth mode where I and my team have provided assistance with regard to Marketing, management, Influencers, etc. This is my FIRST full-time public project.

Mamoon Yousaf:

I am Mamoon Yousaf, CEO and Founding member of TosDis Finance. With years of global experience in business in a wide range of industries, I have successfully grown start-up companies and added value to existing companies. I would say Decentralized finance is the future, and I have been a silent investor of many successful crypto projects since 2015. Crypto is an emerging market where I see much potential from a business point of view, and TosDis is my part to play in the world of Defi.

Gold Rocket | Satoshi Club:

You are an amazing team with great experience guys! tell us about what unites you! about Тosdis

Mamoon Yousaf:

I would like to give a short answer to this. It is our ability to provide services to the DeFi space which are accessible and affordable to all.

Tosdis is what we call it DeFi-as-a-service. We are offering a range of projects which are not just short term hype products. We are offering products that are going to be used by literally every crypto project in the future. This is not a usual PnD project where you get Yield farming for a month and the project is dead after that.

The First 2 products from the range of products are Staking as a service and Yield farming as a service to all the existing and upcoming projects in the market. These are not just on paper but instead, we are coming to the market with working products that are audited by Hacken.io. Our staking as a service and Yield farming as a service is one of their kind and is ready to launch. The launch will happen Post public sale. For the rest of the features, you can refer to our website Tosdis.finance

Mary | Satoshi Club:

Very ambitious plans! When you will launch staking and Yield farming? Do you have timeframes?

Gold Rocket | Satoshi Club:

“DeFi-as-a-service” I really liked this concept👍

Mamoon Yousaf:

It is ready to launch. Contracts have been audited by hacken at multiple stages. We will time and execute the launch according to our public sale.

Mary | Satoshi Club:

You will have a public sale soon, right?

Mamoon Yousaf:

Yes, most probably in the 2nd week of January

Mary | Satoshi Club:

Do you already have details how to join it?

Mamoon Yousaf:

There are no details out yet but It will be on one of the DeFi protocols such as bounce

Mary | Satoshi Club:

Got it! Hope when you will have you will share with us also😀

Mamoon Yousaf:

Sure we will. I am sure you will be more excited about the sale when you get to know about the deflationary token economics and utility of the DIS token. Bring them on 😀

Gold Rocket | Satoshi Club:

Please share with Satoshi Club when you know😉

Mary | Satoshi Club:

And thank you, guys, for this intro! Ready to start with our community questions?😀

Gold Rocket | Satoshi Club:

Yes! Great intro!🚀

Madeleine Nilsson:

Sure. Go ahead, please 🙂

Preselected questions about the Tosdis finance DeFi project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @Ubik1337

We are all suffering from high fees on the Ethereum blockchain at the current moment…and I see you are working on your own DEX which will have to go live in the next year..you promising “lowest fee swapping protocol”…Can you elaborate on this? Will we really be able to save the essential amount of money on swaps? Can you give us some hint on how you will implement this? And why still no one ever did this? You think you are smarter than the other projects, which do the same things and already have big capitalization on the market? 🙂

Mamoon Yousaf:

We are considering using Liquidity aggregation between multiple DEXes and also CEXes probably if we can achieve this without sacrificing decentralization. There are also few features in research that aim to solve impermanent loss and high slippage issues.

If such issues are solved successfully or to some extent that surely it will be possible to save essential costs of trading on the decentralized exchange.

All of the features in the roadmap are currently under research to bring out the best outcome. There are various Decentralized exchange models available in the market and there are few new projects that are actually solving the current issues present in Uniswap. We are currently analyzing such models and will be updating users on the finalized model in the next version of the whitepaper

Regarding the last part of your question. It is not about being smarter than others. We don’t like to compare with others. It is about how you utilize your resources in the best way possible. The resource here I am referring to is our DIS token. We will be utilizing our DIS token to help reduce the fee on our Swapping protocol and at the same time compensate Liquidity providers with a reward for running the liquidity pools. Exact details of this mechanism can be found in our technical whitepaper which will be released tomorrow.

Mary | Satoshi Club:

Oh, got it, so, you will use DIS token.

Gold Rocket | Satoshi Club:

Sounds good!👍

Mary | Satoshi Club:

As I understand you will also have swaps, right?

And, btw, will the DIS token be approximately similar to the Chi token, which 1inch has?

Mamoon Yousaf:

No, DIS is completely different.  DIS is a deflationary token that drives the adoption of our platforms. Without our token, None of the contracts on Tosdis network are deployable.

Mamoon Yousaf:

Yes, Swaps are the main basic function of our dex.

Mary | Satoshi Club:

Great👍😀

Gold Rocket | Satoshi Club:

Can we proceed? Or you want to add something?😊

Mary | Satoshi Club:

Thanks, waiting for the technical Whitepaper 😀

Ready for the next question?)

Mamoon Yousaf:

Yes sure.

Gold Rocket | Satoshi Club:

Q2 from Telegram user @KeymerS

You say that the Tosdis cross-chain could be used for 12 different blockchains, but how can you really be sure if the first two chains of BSC and Polkadot have not yet been audited? How to know that it will be possible to develop them and make them efficient in other chains totally different from ETH?

Ryan Doeschate:

We are already built and ready with our products for the Ethereum chain which have been audited multiple times and have been approved for deployment. Building for Ethereum is what you can call is the foundational stone. Rest all are layers built over the concepts of Ethereum. BSC is mostly similar to Ethereum and fairly easy to achieve. Whereas, Polkadot is similar but more advanced than Ethereum in a number of ways and allows interoperability, which makes it easier to integrate other chains once the Polkadot integration is achieved.

Mary | Satoshi Club:

So, you will follow their updates and follow their development? 😀 Btw, did you already built something testable on BSC? Or it’s just on the plans stage?

Ryan Doeschate:

Yes, we are and we are already building on the backend for these chains. Yes, we have.

Mary | Satoshi Club:

Do you test with community participation or just a team?

Ryan Doeschate:

It is just under the backend team for now. Nothing will go public without auditing.

Mary | Satoshi Club:

Thank you!

Gold Rocket | Satoshi Club:

You said that Hacken audited smart contracts for you, are you ready to share the results with us?😉

Ryan Doeschate:

It is public on our website. I will share the link anyways

Mary | Satoshi Club:

That would be great!

Ryan Doeschate:

Audit report

Mary | Satoshi Club:

Thank you! Ready to proceed?

Gold Rocket | Satoshi Club:

Thanks for sharing👏👏👏

Ryan Doeschate:

You are welcome

Gold Rocket | Satoshi Club:

Q3 from Telegram user @Jonahapagu

As a Platform that will be offering staking-as-a-service integrating different blockchains…it is expected that a lot of projects especially those offering Defi services on supported blockchains will apply to use some of your staking features such as EASYStake and Yield Farming… for projects wanting to do so what requirements must they meet before being accepted into your platform.. and how are the applications of these projects reviewed.. will you be supporting newly developed projects and do you have plans that in no distant time the decision of what projects make it to your platform will be made by your community

Mamoon Yousaf:

We will be reviewing project applications to some extent to analyze if they have any malicious intent, for example, to stop anyone from creating staking pools with fake tokens. But TosDis is basically a service platform that offers any project to provide staking for their token so users have to do their own research before investing or staking with any particular project. There will be no restriction for new projects to use our Staking service.

Mary | Satoshi Club:

Do you review means audit? Will, your review with the third part help or by your own resources?

Mamoon Yousaf:

In the future, such decisions will be made by TosDis DAO governing members.

Mary | Satoshi Club:

They will review each project?

Mamoon Yousaf:

No, we will review ourselves. It is the user’s responsibility to research the projects they are investing in. We will just make sure there are no fake token staking pools on TosDis platform.

Mary | Satoshi Club:

Gotcha 👍 Not everyone understands his own responsibility 😀 But it’s true, especially in crypto now

Mamoon Yousaf:

Investing in projects by researching them is the user’s responsibility. TosDis is providing staking as a service. It is in no way liable to the investments people make in other projects.

Mary | Satoshi Club:

100% true😀 Ready to go forward to the next question?

Mamoon Yousaf:

Yes ready

Gold Rocket | Satoshi Club:

Great answer! 😊

Q4 from Telegram user @Winterkom

– What is the difference between a normal staking and the liquid staking offered by Tosdis? Is there any difference when locking my tokens?

Ryan Doeschate:

Normal staking is what you all already know, So, I would explain liquid staking and why it is required.

If you normally stake ETH in phase 0 contracts, you will have to stake a minimum of 32 ETH, and lock them in the Ethereum network until the launch of phase 2. Tosdis aims to allow users to stake ether without losing access to their assets. Allowing users to trade, transfer, or yield farm in the world of DeFi. Tosdis will offer a decentralized infrastructure for issuing a liquid token that maintains the value of your Ether and is safer than exchange staking. This provides users with incredible flexibility compared to self-staking. The primary goals of TosDis are:

To allow users to participate in the Ethereum phase 0 staking contract and earn staking rewards without fully locking their ether;

To make it possible for users with lower balances to stake any amount and  earn rewards on deposits different than 32 ether;

To reduce the associated risks of losing your staked ether  due to technical failures or shady  third-parties;

Unlocking the world of possibilities by providing a derivative token to be used or utilized in other applications and protocols (e.g., To transfer as a value, trade, or used as collateral in Lending protocols or other DeFi protocols).To offer an alternative to Self-staking semi-custodial and decentralized protocols or Exchange staking for that matter.

Mary | Satoshi Club:

Do we have projects with a similar systems on the market?

Ryan Doeschate:

Yes and No. Yes because there are projects that are providing liquid staking but they lack other features that we have and initially, they do have flaws. Apart from this, the major difference is the Token model attached to our liquid staking which no other project has.

No, because We are providing a full package.

Mary | Satoshi Club:

Do you have your token model described somewhere? Or it will be described in technical Whitepaper?)

Ryan Doeschate:

Token economics is on our web but the complete utility model will be revealed tomorrow

Mary | Satoshi Club:

Understand, Btw, will you have any bounties and drops? It a bit offtopic, but i have questions from the users.

Mamoon Yousaf:

We will have technical bounties related to smart contracts and auditing. But it will be very rare to drop freebies.

Gold Rocket | Satoshi Club:

all clear! ready for the next question?😊

Mamoon Yousaf:

Additionally, 80% of our supply will be community-owned. Yes!!!

Gold Rocket | Satoshi Club:

Q5 from Telegram user @reinleoken

With the wide range of product Tosdis offers, looking through the roadmap I couldn’t find a date for a mobile app launch, is it that you don’t consider a one-stop mobile app a priority? Or is a mobile app something we would see in the later part of 2021?

Mamoon Yousaf:

In current times when we are on the move most of the times, mobile apps are a must to manage your financial products and investments on the go. We have not yet added the mobile app to our roadmap, but it will be surely developed later in 2021 when we have achieved our most important milestones first. Probably we will add a mobile app in our next version of the whitepaper.

Gold Rocket | Satoshi Club:

Fine! We will follow the updates!

Mary | Satoshi Club:

You mean you will update your roadmap, right?

Mary | Satoshi Club:

Maybe you can give us a hint about more updates? Sure, the app is not the only one😀

Mamoon Yousaf:

Yes, there are many features under development to make the delivery on time. So we will keep updating the roadmap as progress is made.

Mary | Satoshi Club:

Awesome! And ready for the 6th and last question from this part?

Gold Rocket | Satoshi Club:

And this is a reasonable enough decision!👍

Mamoon Yousaf:

We have finished with Staking as a service, Yield farming as a service, and liquidity mining features on time. Next would be liquid staking as this is what we are focusing on most at the moment. But confirmed updates will be provided on our social media channels.

Mamoon Yousaf:

Yes, please 😀

Gold Rocket | Satoshi Club:

Q6 from Telegram user @JesusFre1tes

Tosdis offers an easy, safe, and secure way to provide liquidity mining services to its holders. How high will the performance be with this model in EasyStake? Can I easily configure and implement the smart contract at economical prices and offer performance farming to my holders?

Mamoon Yousaf:

TosDis Yield farming as a service concept takes the staking service one step forward by offering Yield farming and liquidity mining to every ERC20 (initially) project in the market. Making these new and advanced technologies accessible to all the present and upcoming projects at cheap and affordable prices while also removing the barrier of development time and costs.

There will be pools on TosDis that will require LP token of certain liquidity pools on Uniswap. Users who want to yield farm will provide liquidity in a certain liquidity pool on Uniswap and get Uniswap LP token in return. Users will stake that LP token on TosDis and earn the mentioned rewards on the pool, maximizing their returns. This will help projects increase their liquidity on Uniswap, while users will be able to yield farm on their investments. It’s a win-win situation for everyone.

It will be a pretty simple and straightforward process for tokenized projects as they’ll only have to specify a few parameters/define rules to provide liquidity mining service for their token holders.

Mary | Satoshi Club:

For which projects Uniswap lp will be required?

Gold Rocket | Satoshi Club:

“DeFi-as-a-service” 😉

Mamoon Yousaf:

Any ERC-20 token from Uniswap will work.

Mary | Satoshi Club:

Ok! I think that’s clear! Thank you for the detailed answers and now we are close to the part of the live question! Are you ready?😀

PART 2.Questions about the Tosdis finance 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 Tosdis finance 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 @Jonahapagu

Probably almost all new DEX platforms promise to offer lower fees than other platforms available… in your case with Tosdex, you intend to do so using what you Called an Advanced Revenue model.. which will not only offer Low trading fees but also give the best returns for liquidity providers…first of all, will this DEX platform also be a Cross-chain platform if yes what kind of inter-chain protocol will you be implementing to enable Decentralized trading across different Chains.. and How does your Advanced revenue model in true sense help in offering lower trading fees and give best returns from liquidity providers….?

Mamoon Yousaf:

TosDex is still under research and there are many features planned which will be disclosed in the coming weeks. With TosDex, we aim to provide ease and convenience of CEX in a decentralized manner. For efficient, fast, and secure interoperability across chains, we are planning to use Polkadot’s parachains capability. Using Substrates framework, It will be far easier and secure to create a custom blockchain and connect our chain to Polkadot and get interoperability and security from day one. This will enable users to exchange their assets across supported chains with the lowest costs and zero hassle.

Q – 2 from a telegram user @Gutike95

Great innovations are currently being developed for DeFi stakes, such as Time Proof, Liquid Staking, and more. but do you really think that all these tools are necessary for DeFi? Or will just Liquid Staking be more than enough to enjoy the full potential of DeFi? Thx.

Mamoon Yousaf:

DeFi is new but it’s been picking its pace greatly since this year started. We believe every kind of decentralized finance is necessary because that is what will create a whole decentralized ecosystem for all kinds of financial applications, expanding the reach of decentralized finance. We should be considering all kinds of applications to become trustless and decentralized if possible.

Q – 3 from a telegram user @DrCassiterite

” Hacken ” was recently contracted by Tosdis to conduct a Smart Contract Code Review and Security Analysis.
What is the outcome of these audits, and will you do more security audits in the future?

Mamoon Yousaf:

We went through Multi-stage audit to clear out even the minor bugs that we could find and the outcome was great as expected. As more and more features are developed, we will go for an audit for every feature once it is developed. Security is an essential part of building financial applications.

Q – 4 from a telegram user @vedamatrix

The audit says “Function transfer from is not checked for success and can return a false value. Use SafeTransfer function instead.” What’s the meaning of this. Did you fix this?

Ryan Doeschate:

This question is not selected but answering it anyway. Everything was fixed as suggested. You need to read the audit report clearly.

Q – 5 from a telegram user @KASG95

There is very little left of this Q4 of 2020 and the goals planned for this date have not yet been completed, such as Deployment and Tosdis IDO, right? but is there really time to finish it before the end of the year? If not, would the entire road map be completely modified?

Ryan Doeschate:

No, the entire roadmap will not be modified. Just that the Sale and the Launch of Easystake will happen in Jan 2021 but the rest of the roadmap remains the same.

Q – 6 from a telegram user @Mora110

How about the tokenomics of $tosdis token
What is suitable for distribution in (SALE, UNISWAP LISTING, EXCHANGE LISTING, YIELD FARMING AND GOVERNESS, and MARKETING)?
What is the benefit of buying and holding it for a long time?

Madeleine Nilsson:

Let me answer the first part of the question is that the token economics and distribution is mentioned as below:

SUPPLY: 100,000 DIS

SALE (35%)

35,000 DIS (no pre-sale, no lock-up)

TOSDIS FOUNDATION (10%)
10,000 DIS (locked with a vesting period of 12 months, release 25% after every 3 months)

MARKETING (9%)
9,000 DIS (50% initial unlock (4500 DIS), remaining locked with a vesting period of 12 months release 8.33% after every 2 months)

UNISWAP LISTING AND EXCHANGE LISTING ALLOCATION (5%)
5000 DIS

YIELD FARMING AND GOVERNESS ALLOCATION (41%)
41000 DIS

Now let me answer the second part:
We have a great utility of our token along with a deflationary economy of token

Utility benefits for Holders:

45% or less (depending on governance) of all Platform fees paid by listed projects is distributed to DIS Holders.
45% or less (depending on governance) of all fees earned on TOSDEX is distributed to DIS Holders.
Yield Farming benefits for DIS holders.
Monthly Airdrops of other projects for DIS holders.
Staking rewards for DIS holders

2. Tosdis Token Deflationary Utility:
45% or more of All Staking fees paid by projects goes into burning DIS tokens.
45% or more of all fees/commission earned from liquid staking goes into burning DIS tokens.
Liquidity mining for Tosdis liquidity pools and rewards paid out in Tosdis tokens.
45% or more of all revenue earned from TOSDEX goes into Burning DIS Tokens.

Q – 7 from a telegram user @feranno

What is the business model of Tosdis? How many revenue sources do you have? Is it enough for the project to survive if the crypto winter lasts longer than expected???

Madeleine Nilsson:

Tosdis has a very unique yet straightforward business model. Every project that wants to enable Staking, Yield farming will have to pay a fee. Currently, there is only one competitor in the market i.e. Ferrum which charges around 7000-10000$ for Staking contracts. At Tosdis we will enable it at only 2000$. 10% of this fee goes to Tosdis foundation, 45% goes into burning the DIS tokens, and 45% is distributed among the DIS holders.

Apart from this, we will have revenue from Liquid staking, 10% of all rewards from the Liquid staking will be deducted. 5% will be kept by the Tosdis foundation and the remaining 5% will be distributed to the DIS token holders.

There are other revenue streams that are related to TosDEX and Barter but we are still finalizing the model for them.

Q – 8 from a telegram @Cakelov

As a DEFI company, it will not complete without a burn or buyback system. So does Tosdis have a burn/buyback system to increase the value of Tosdis token? If you have, how does that feature work?

Ryan Doeschate:

Tosdis is a deflationary token economy. Any service that is bought on the Tosdis network, the fees for that is distributed into 3 portions. 45% of the fee is burnt in the form of DIS tokens, 45% of the fee goes to the DIS holders and 10% goes to the Tosdis Foundation.

Q – 9 from a telegram user @highpee

🤗🤗🤗I appreciate the team’s effort and I wish your project a success 🥰🥰🥰🥰.

🙋‍♂️ In liquid staking, when issuing out token derivative which can be used in the interim, How do you determine the entitled reward of an underlying asset as well as the associated asset risk when issuing a token derivative on such staked assets?

Mamoon Yousaf:

There are multiple models of liquid staking and we are considering all of them to find out the best model for TosDis liquid staking. You will find more details about it in the whitepaper where we define all the models. The value of sETH is calculated on the basis of the total amount of ether staked plus total staking rewards and minus slashing or penalties applied on validators. There are multiple risks involved in liquid staking, same as other decentralized financial applications such as slashing or penalty to node validators. That is why we are working to figure out a better model than the current ones. But in any case, financial risks are always involved in one way or another in such systems but I’d say not much significant.

Q -10 from a telegram user @cryptofollower

I liked your Token Economics, it is clever, but why there is no information about token burn?

Ryan Doeschate:

The information about the token burn will be available tomorrow in the technical whitepaper.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Tosdis Finance 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: Tosdis Finance

Telegram group  |  Telegram Chanel  |  Tweeter  |  Website  |  Medium  

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from SmartCredit.io. The AMA took place on December 27 and our guests were Martin Ploom (co-founder CEO) and Tarmo Ploom (Co-founder CTO).

The total reward pool was 3000$ 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

D. | Satoshi Club: Hello Satoshi club! 👋 today we are welcoming our guests from Smartcredit.io!

Gold Rocket | Satoshi Club: Today our guests are @Martinikus – Martin Ploom co-founder CEO & @TarmoPloom – Tarmo Ploom Co-founder CTO.

Martin Ploom | SmartCredit.io: Hello All, I’m very happy to be here tonight! And my past – I worked 10 years for Credit Suisse as a Vice President in Zurich. Before this I launched 4 successful software products and now SmartCredit.io!

Tarmo: Hi, I am Tarmo, Co-Founder and CTO of SmartCredit.io. before starting SmartCredit.io I was Chief-Architect of Finnova (it is the largest Swiss Banking Platform). And before that I worked for ten years as Vice President in Credit Suisse Global Architecture.

D. | Satoshi Club: Awesome! thank you! can you tell as briefly about your project?

Martin Ploom | SmartCredit.io: What we are doing is DeFi lending/borrowing, but it’s quite different from the money-market-funds like Aave and Compound are.

Our focus is on:

1. Fixed-term-loans
2. Fixed-interest-rate-loans
3. Fixed Income funds

Why is this important? It’s because the fixed-income-funds are 10x of money-market-funds in the traditional finance, but fixed-income-funds are missing in DeFi. So, we add them.

D. | Satoshi Club: So you are first who did this?

Martin Ploom | SmartCredit.io: Yes, we are the first ones doing the fixed-income-funds. The DeFi is based so far on the money-market-funds. We add the alternative – the fixed-income-funds. The money-market-funds have high flexibility, but high collateral ratios and fluctuating interest rates, the fixed-income-funds will have less flexibility, but lower collateral ratios and stable interest rates. So, every user can choose.

Tarmo: Fixed income funds help to reduce volatility and make outcome predictable for lenders and borrowers. In this way it can increase crypto adoption as volatility of outcome is reduced.

Q1 from Telegram user @sajay999

The first phrase I see on the website is the you provide defi lending solutions from Swiss bankers. Please elaborate on your background as Swiss bankers. In what banks are you working or have you worked and are they endorsing your activities related to blockchain?

Martin Ploom | SmartCredit.io: I worked 10 years for Credit-Suisse Private Banking as Vice President in Zurich. We are CFA’s – Chartered Financial Analysts, we are MBA’s – everyhing what you need in the bank.

Regarding Credit-Suisse and blockchain. Unfortunately they are not supporting blockchain. It’s just because they are very dependent from the SNB (Swiss National Bank – the central bank) and they try to read the central banks mind all the time 😉.

Tarmo: I was 10 years VP at Credit Suisse Global Architecture, after that 2 and half years Chief Architect of Finnova. I know banking and Swiss banking inside out.

With SmartCredit.io we dont just build superior product we replicate brand values of Swiss Banking into DeFi:

1. Superior service
2. Stability
3. Excellence

D. | Satoshi Club: Okay, and what about your crypto experience? how long are you in crypto world?

Martin Ploom | SmartCredit.io: So, we have the know-how inside out of the banking systems, credit-systems – and we just transfer this into the blockchain. We started in 2012.

Tarmo convinced me to do some Bitcoin transactions and when we saw how this is working, then we became the CONVERTS. We published our first Bitcoin price forecast in 2014 January in the Swiss CFA magazine and the second one in the December 2017 in the Swiss CFA magazine.

Tarmo: Yes, with some mining 😊 I didn’t have to heat my apartment in Zurich 😊.

D. | Satoshi Club: I think stability it’s what more and more people are looking in DeFi and in crypto in general, sometimes.

Martin Ploom | SmartCredit.io: Zurich was that time very good place to be – there were 2 core developers in Zurich and they spent a lot of time with people and of course, we discussed for days with them!

Tarmo: https://smartcredit.io/bullish-case-for-bitcoin-price-valuation/

Martin Ploom | SmartCredit.io: So, our viewpoint is that Decentral Autonomous Banks will emerge. That the capabilities of traditional banks will be transferred into the blockchain. Well, then people started to use the word “DeFi” and then we switched to the “DeFi” word too.

Tarmo: Decentral Autonomous Banks would replicate current 30 000 banks into Blockchain.

Martin Ploom | SmartCredit.io: Let’s think, that the finance is 5000 years old. The banks as we know them are 100 years old. Our approach is just to replicate the earlier approaches (before the banks era) into the blockchain.

Gold Rocket | Satoshi Club: This is very impressive. So is Zurich today a crypto banking center too?

Martin Ploom | SmartCredit.io: The Swiss regulator is very perfectionistic. They try to regulate everything. The result is rather over-regulation and the startups have very though time there.

Tarmo: Current banks are running on Web 0.0 (Mainframe) or Web 1.0 technology. Banks haven’t managed transformation to Web 2.0 technology. As such there is not much future for current Web 0.0 or Web 1.0 based banks.

Issue with Web 0.0 or Web 1.0 based banks is there cost basis. They are not competitive with Web 3.0 technology (Blockchain). Blockchain based banking is at least 6 times cheaper as old technology based banking

Martin Ploom | SmartCredit.io: However, the crypto banks are emerging – like SEBA and Sygnum. They have their banking licenses now too. But let’s think – there are 251 banking licenses in CH and ca 4 to 6 of them are focusing on crypto or are doing some crypto services.

Q2 from Telegram user @iulya_i

Personal Fixed-Income-Fund will be your new feature in the next release. What exactly does it and how will I benefit from it?

Martin Ploom | SmartCredit.io:In the traditional finance we have the concept of the money-market-funds and fixed-income-funds.

The money-market-funds are very flexible instrument, the borrower and lender both have very high flexibility. But this comes on cost. First, there are high collateral requirements for the borrowers’s because one doesn’t know the loan maturities. Second, there are fluctuating interest rates for both sides. Both sides can have advantage or disadvantage from this.

Therefore the traditional finance has implemented fixed-income-funds, which give less flexibility, but more stability. The borrower’s and lender’s will get stable interest rates and the borrowers will have less collateral requirements than the money market funds and Personal Fixed Income Funds – they invest rules based into the borrowers fixed-term-loans. They are personal (i.e. no pooling of the assets), but they are _personal. Regarding pooling of the assets – like the money-market-funds are doing this – pooling and offering investment return on the pool is regulated activity. And it requires licenses earlier or later.

Tarmo: Yes at least two lisences:

1. Fund management company
2. Fund lisence

Are needed for it.

Martin Ploom | SmartCredit.io: However, if one stays pure P2P – like we are doing this or MakerDAO – then the pooling regulations do not apply. So, Personal Fixed Income Funds offer regulatory security and the stable income for the lenders. Our website: https://smartcredit.io

Our Community: https://t.me/SmartCredit_Community Our application: https://app.smartcredit.io And our medium too: https://medium.com/smartcredit-io https://twitter.com/smartcredit_io

Q3 from Telegram user @b_dima

I like that you have many sections with information on your website. You can basically find everything there. But why not make it simpler? To lend ETH in 2 clicks for example. I searched about this on your website and there are many steps to do and to read. In order to get more adoption, I suggest you try to simplify all these steps. Let us know what do you think.

Martin Ploom | SmartCredit.io:Definitively – agreed. Our first version is the Release 1.0 – several simplifications can be done. One of the features that we add is crypto-credit-score. It’s optional to the borrowers, however borrowers who do the credit-score will have better collateral and interest rate requirements.

So, the system needs to be from one side easy to use. And from other side – we have this extra functionality, which should be available too. But credit-score is more for the borrowers. The fixed-income-funds will be introduced with the Release 1.1 and then the lenders will have really easy life

1. Choose the asset
2. Define the rules (or use the default rules)
3. Transfer the asset

Q4 from Telegram user @wicksterr

The mobile version is a joke and basically it’s impossible to use. When do you plan to finish the design and development of a fully operational mobile version? In our days this can make or break the ux of a project.

Martin Ploom | SmartCredit.io: Yes, we have focussed on the desktop version and the mobile version has some shortcomings. However, our growth strategy is the integration into other wallets. It will take some time, but we will be integrated into the Web3 wallets and then everything is getting even simpler. This onboarding process is really outdated. We are just deploying a new version of the onboarding process into the Production, it looks the same as the main application. Will be there in max 7 days.

Q5 from Telegram user @sato_nakamo

What is the formula of credit score creation and how much time does it take to create a good credit score?

Martin Ploom | SmartCredit.io: Very-very-good question,but we cannot tell this to you – there is just algorithm behind. But here are the key pieces of this algorithm:

1. We do blockchain analytics – the analytic like the banks are doing in the credit process.
2. There is social media analysis – the user can enable his FB and LinkedIn profiles and we do some analytics there.
3. And then there is little psychometric test.

Practically we calculate two parameters:

1. Capability to pay
2. Willingness to pay (users can have funds, but decide the game the system)

And both these parameters together result in the credit score. Traditional banking has credit-score as a key feature. Every single bank client has credit scores now. It’s possible that bank is not telling this to you, but so it is. In DeFi we do not have the credit-scores – it’s like the approach “One shoe fits all”. The result of this is as well the heavy overcollateralization in several systems.

So, we say – users have the option. Some users choose to stay fully anonymous – they have to pay for this – with more collateral and more interest rate. Some users choose to open up their data – they will have then better requirements, if they get a better score, we just offer to the users a choice. But this is a rational choice, where every user can monetize his data.

Gold Rocket | Satoshi Club: Great answer! Thank you! This means that you work according to banking standards, but you have more opportunity to study the potential of the client.

Martin Ploom | SmartCredit.io: Yes. We use the approaches from the banks. But banks are not doing social media analysis or psychometric tests. Why? It’s because the law is writing what banks need to do for the credit score. So, the banks have the “innovation via the law” 😉

Gold Rocket | Satoshi Club: This means КYC is not necessary. Did I understand you correctly?

Martin Ploom | SmartCredit.io: KYC is not mandatory. However:

1. If the volume in month exceeds 15000 USD, then we will request this.

2. The borrower can always submit his KYC, but it’s not mandatory.

Q6 from Telegram user @batrud

How does the crypto asset management work? Is there a team of professionals that manage this assets, like in the regular finance world? Also, what is the fee for this service and do you provide any insurance regarding the results and the security of the funds?

Martin Ploom | SmartCredit.io: When we say crypto asset management, then we refer to our fixed-income-funds (at the moment). The fixed-income-funds will not have any fees for the lenders (except the gas to create one). The borrower’s however have to pay the platform fee (0.5%) and the Loss Provision Fund fee (which is credit-score dependent).

However, back to crypto asset management, we are thinking about simple scanarios (after the Release 1.1). For example:

1. An investor will take a collateralized loan with lower collateral ratio than the money-market-funds (Aave, Compound).

2. Investor sends the funds into the yield protocols.

Because the step (1) gives higher “capability to borrow” to the investors, then they will have as well higher return via the yield protocol. So, we plan to integrate these functions after the Release 1.1 (Release 1.2). Additionally, we will integrate Fiat on-ramping and Fiat off-ramping into our platform via our partners (but this will require KYC). So, the crypto asset management contains:

1. Fiat bridges
2. Fixed income funds
3. Access to yield protocols

As a summary before the chat:

1. Our project is a multi-year project, with many features there already and many features to come.

2.We just offer choice to the users – for the borrowers, for the lenders, for the integrators.

D. | Satoshi Club: And do you provide any insurance on your platform?

Martin Ploom | SmartCredit.io: We have the Loss Provision Fund in the platform, from every interest payment a piece is going into the Loss Provision Fund. This system is there for the unknown events.

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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 @K2ice

What benefits are on the SmartCredit platform for the following categories of users: (1) An active borrower on the system (2) A lender on the system (3) A partner company, which would integrate the platform’s borrower or lender widgets.

Martin Ploom | SmartCredit.io: Here are the key benefits:

Borrower will get:

1. Lower collateral ratio than the money-market-funds
2. Stable interest rate
3. Can monetize his data via the crypto-credit-score

Lender will get:

1. Personal Fixed Income funds
2. Stable interest rate
3. Higher utilization ratio of the lent money than the money-market-protocols – this means higher real income

Integrators will have:

1. We share the revenues with them
2. They will receive reward tokens too

Q2 from Telegram User @smelekin

You have a woman in your team. This is very nice to see woman in this market. Can you tell about her to us?

Tarmo: Woman are necessary for every high performance team. As a result, social intelligence/emotional intelligence improves, decisions are better and team performance improves massively! Our Wunder-Woman is Basak from Turkey. She is Woman in Istanbul Co-Chair. She is brilliant!

Q3 from Telegram User @atillayeni

Can everyone make a loan request from SmartCredit? What’re the requirements for a loan to approve?

Tarmo: Yes, everybody who has registered in the app.smartcredit.io application can make loan requests. Current currencies supported are ETH and DAI. To make loan request you have deposit collateral (currently BAT, ZRX, REP) In Release 1.1 we add two more stablecoins and ten more collaterals.

Q4 from Telegram User @Sangdz

What is your plan for global expansion? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

Martin Ploom | SmartCredit.io: At the moment we have English speaking community and our application user interface is in English too. We are adding two communities:

1. Spanish

2. Turkish

So, we have to translate our website and our application into Spanish and Turkish. More communities will follow, but we are just starting with these two at the moment.

Additionally, we focus very much on the partnerships. We have announced two of them (piixpay and cryptotask). The idea is that other platforms can offer our services via the User Interface Widgets or via the API. And we split the revenue with the other platforms. The benefit for us – new users. The benefit for the integrators – more services to their users (plus revenues from the loan origination).

Q5 from Telegram User @HTaraca

How do you ensure that your lendings are fully recovered from those given to? What approach do you take to ensure that borrowed funds are collected?

Martin Ploom | SmartCredit.io: 1. Our loans are over-collateralized. But our collateral ratio is lower than the collateral ratio in the money-market-funds (Aave, Compound).

2. When the collateral value declines, then the collateral is getting liquidated.

3. And we have the Loss-Provision-Fund for the unknown events – every borrower is paying into the Loss Provision Fund depending on his credit score (when he has not done any credit score, then he will be in the “standard” credit score.

Q6 from Telegram User @hanahho0107

Can you share with us the highlights of the Credit as a service API product? If I am new, where can I find guidance?

Tarmo: We publish all our functionality as an API. As such other banks or websites can easily integrate smartcredit.io and earn additional revenue stream.

Q7 from Telegram User @Emidm37

Is the minimum and maximum limit for borrowing the same for all users? Have you not thought of creating a reputation program where users with higher reputations have higher limits for borrowing?

Tarmo: Minimum is 100 USD equivalent in DAI or in ETH. There is no maximum. However we calculate borrowers credit score. Credit score determines borrowers interest and collateral requirements.

Q8 from Telegram User @BERTA2020

Can you give me 3 or more features with which Smartcredit takes advantage of other similar projects and what outstanding benefits does it offer to users who choose your project and not others?

Martin Ploom | SmartCredit.io: I would says following:

1. The low collateral ratio for the borrowers – having fixed term loans allows us to offer lower collateral ratio to the borrowers than the money-market-funds (Aave, Compound).

2. The personal-fixed-income-funds for the lenders – regulatory compliant (no asset pooling) and offer stable interest rate and exposure to all yield curve to the investors (not just the exposure to the money market funds, but to the all yield curve). As the yield curve is upward sloping, then investors can lock in stable income for the future.

3. Crypto-Credit-Score – this allows separation of the good borrowers and less good borrowers.

4. And let’s add that as we are doing fixed-term-loans, then we have less exposure to the flash-loan-attacks (because the assets are locked).

Q9 from Telegram User @Pannicota

In the Lending/Loans fields of DeFi, I most concerned about the SECURITY problems! Because I saw that even in many BIG PROJECTS, Lending/Loans fields always a “GOOD MEAL” for many HACKERS, Like AKROPOLIS last month , 2 Mil has been STOLEN by HACKER, or even like Harvest Finance, 24 Mil from Lending has been HACKED because of the bug on the smart contracts! So how will you solve this problem?

Tarmo: Current DeFi has two main security issues:

1. Asset pooling

2. Flash loans

As a result hackers fee in 2020 has been 0.84% of total locked value in DeFi. If you take that ETH lending fee is 0.6% then current DeFi has a BIG issue. It shows WRONG SECURITY DESIGN in DEFI.

In SmartCredit.io we avoid both these issues. We dont do asset pooling, we dont do Flash loans. Our approach is security by design.

Q10 from Telegram User @tuvalunia

You provide the “Lowest Collateral Ratio” in the industry. How do you achieve this? Will you afford to keep it for a long time or is it for a temporary promotional period?

Martin Ploom | SmartCredit.io: This is because of the business model:

The money market funds do not know the loan maturity. The borrower can have 1 day or 100 day loans. That’s why they prefer high fixed collateral ratios. The fixed-term-loans, however, know the loan maturity. And this allows to reduce the collateral requirements (of course, you need to do some maths for this).

Additionally, we have the Loss Provision Fund, which would accumulate the unknown events. So, the key driver for the Lower Collateral Ratio is the Business Model Design – not doing the money-market-fund business model, but doing the fixed-income-business model.

Q11 from Telegram User @KeymerS

In all the time I have known about DeFi I have learned that the most reliable and beneficial thing for society is that everything is developed under Blockchain, but it really is not so? With SmartCredit, can you get more benefits and have the same transparency as with the Blockchain? How is it possible?

Tarmo:Customer has to come first. Business model second. Product architecture third. To offer added value to the customer combination of onchain and offchain components is necessary.

DeFi projects who call them blockchain only will always have some offchain components. Key is to find right balance between onchain and offchain components and to put customer experience first!

Q12 from Telegram User @phamtan310

With Smart Credit, Investors can set up their Personal Fixed Income Funds to automatically invest into the borrower’s loan requests. So is its profitability better than other Yield-Farming models? Can users easily control their automated investments?

Martin Ploom | SmartCredit.io: Let’s separate two business models:

1. There is fixed-income-business model, which is low-risk business model and which offers stable interest rates to the passive investors

2. There is yield farming business model, which is not low-risk business model, but more an “arbitrage business model” with high risk profile

Of course, Yield Farming likes to present the returns. But on the essence there are 3 sources of the returns:

1. Borrower pays interest rate
2. The liquidity pools (Uniswap, etc) give the service fees
3. There are reward tokens from several protocols

– We focus on the (1), it’s low risk

– Yield Farming focuses on the combination of the (1), (2) and (3), it’s high risk

Regarding automated investments in the fixed-income-funds – the investments are done automatically. But the lender has of course the possibility to stop the fixed income fund and to retrieve the free funds (or add new funds).

Q13 from Telegram User @Cakelov

Hello Smart Credit, do you have plan to create and launching a card like credit card or visa in the future?  So your client easier to use and lend from your platform.

Tarmo: Yes, we have merchant capability already in place. In merchant solution customer can get credit by purchasing goods or services in the Internet like by usual VISA credit card. Difference is that merchants dont have to pay high VISA transaction fees (ca 3.5 .. 5%) per transaction. If merchants use smartcredit.io there margin will grow twice (VISA is very expensive for merchants).

Q14 from Telegram User @Joseunda

The circulating supply of SMARTCREDIT is only 5% of the total supply, the remaining supply will be unblocked in what way or how will its distribution be?

Martin Ploom | SmartCredit.io: At the moment we have 5% of tokens circulating and ca 920000 tokens on the project account. The only way to get them into the circulation is via the marketing activities and the rewards to the borrowers/lenders/integrators (which we will enable with the Release 1.2)

In the years 2, 3, 4 and 5 we will unblock 22.5% tokens in each year.  The team tokens will be unblocked 1/4 in the year 2, 3, 4 and 5. So, there are no team tokens in the circulation at the moment. More details about the token model are in the: https://medium.com/smartcredit-io/smartcredit-token-model-1e2243c4c042

Q15 from Telegram User @phamtan310

Vietnam is a developing country with a lot of SMEs, is SmartCredit a smart capital solution compared to traditional banks? Do you have any plan to develop SmartCredit in Vietnam?

Tarmo: SmartCredit.io is a global solution. Customers from every country can use SmartCredit.io lending/borrowing capabilities. Our intention is to bring together lenders and borrowers globally, so that companies from developing countries can borrow funds from lenders from not so fast growing countries (OECD countries).

Q16 from Telegram User @Arabedans

What holds the non-fluctuation of interest rate? How does the Low provision fund help protect the loan? How do you avoid hacks, bugs on your application, do you allows developers once a while test your apps to avoid glitches?

Martin Ploom | SmartCredit.io: The money-market-funds like Aave and Compound are using the “utilization ratio” parameter, which results then in the quite fluctuating interest rates. We are not using the “utilization parameter”, we have the “yield curve”, which is the basis for the loans. Yield curve defines the interest rate for a give loan maturity. That’s how we get the interest rates – they are “yield curve” based.

Regarding the hacks:

• We order the Security Audit for the Release 1.1
  • Fixed-term-loans have much less exposure to the flash-loan-attacks than the money-market-funds. It’s just because the assets are locked, so it makes little sense to attack with the flash-loans the assets, which are locked for example for two months.

Q17 from Telegram User @zaferce

What exactly is SmartCredit’s alternative regulatory safe approach principle and what is the advantage of creating multiple pools for each lender instead of creating a single pool?

Tarmo: SmartCredit.io dont use asset pooling like Aave or Compound. Our solution is truely peer-to-peer, there is contract between lender and borrower and not between pools. Companies which use asset pooling need:

1. Fund management company license.

2. Fund license for each asset pool with corresponding prospect which has to be approved by regulator.

Current DeFi asset pooling solutions don’t have these licenses. As a result, it is question of time till regulator will close down asset pooling DeFi solutions. SmartCredit.io is fully compliant regulatory DeFi solution.

Q18 from Telegram User @Johana0012

Having fixed maturities would imply a fixed maturity CDP; Borrowers would have to close these CDPs before maturity How do I close fixed maturities? Can the compound use fixed maturities?

Martin Ploom | SmartCredit.io: No, the design of Compound is exactly in the way, which does allow only the money-market-funds approach. Let’s go on details:

1. Compound lenders will receive the cTokens – the shares of the money-market-fund.

2. But the money-market-fund shares are not locked, they can be withdrawn at any time (no locking for borrower, no locking for lender).

3. So for Compound to get into the fixed-term they would need to define money-market-funds for each maturity 1,2,3,4,5 …100, 101, etc days and for each asset. This does not make sense – the money-market-concept is not extendable….

4. The money-market-funds and fixed-income-funds are orthogonal concepts – one cannot use one of them to implement the other one.

Q19 from Telegram User @AmitGoyal1444

If you could pick 2 things to change and two things to bring with you from your previous companies, what would they be and why?

Tarmo: First – Customer comes always first. And you have to offer added value to the customer not just a technical solution using coolest new technology.

Second – It is all about high performance teams. In crypto we have tons of high egos. However to be successful our focus has to be to build up emotionally and socially intelligent high performance teams. These teams can change the world!

Third – It is about execution. As long as you have powerpoint customer dont benefit. You have to build solution. You have to get it live. I have built ca 200 applications and carried out 6 very large scale transformations. You just have to do it!

Fourth – Transparency, total transparency to customers, teams, partners. Transparency builds up trust. Trust changes the world!

Q20 from Telegram User @Cryptogeria

Can you briefly explain why you will have more borrowers on the platform?

Martin Ploom | SmartCredit.io: Because we think the borrower’s will follow the rational benefits. If borrower’s will get a loan on lower collateral ratio, then this means, that the borrower’s will be able to borrow more on the same asset basis. This means their “capability to borrow” is higher on the SmartCredit. So, we think the borrowers are driven by the rational goals and these rational goals will drive more borrower’s into SmartCredit. So, it’s about offering more benefits to the borrower’s than the other platforms are doing this. See more about this in the: https://smartcredit.io/low-collateral-ratio-matters-to-the-borrower/

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about SmartCredit. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 2000$ 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:

SmartCredit.io Community: https://t.me/SmartCredit_Community

We are pleased to announce our next AMA on January 13th 2021 at 02:00 PM UTC Time: Satoshi Club x Seascape

⚠️Click to see the hour
⚠️Total Reward pool: $3000

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

We will have the following structure:

Part 1: 300$ /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: 300$/15 users – Open chat for 100 seconds. You can post Max 3 questions. Seascape Team will select 15 questions and answer them.

Part 3: 2400$ – A quiz about Seascape

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

We are pleased to announce our next AMA on January 10th 2021 at 06:00 PM UTC Time: Satoshi Club x The Tap Project

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

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

Part 3: 300$ – A quiz about The Tap Project

For more details:
The Tap Project – @tapcoin
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on January 12th 2021 at 02:00 PM UTC Time: Satoshi Club x EvidenZ

⚠️Click to see the hour
⚠️Total Reward pool: $1200

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join EvidenZ 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$/15 users – Open chat for 100 seconds. You can post Max 3 questions. EvidenZ Team will select 15 questions and answer them.

Part 3: 1000$ – A quiz about EvidenZ

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

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from Coin. The AMA took place on December 22 and our honorable guest was the CEO of the project, Damon Nam.

The total reward pool was 600$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

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

D. | Satoshi Club: @blevels hello and welcome! 👋

Damon: Hi! It’s a pleasure to be here.

Gold Rocket | Satoshi Club: Make a small intro about yourself and your path to crypto and tell us about your project! Аs far as I know you are CEO of Coin.

Damon: HI everyone! My name is Damon Nam and I’m originally from Dallas, Texas where I studied Information Technology and have a Bachelor of Science in Business at Southern Methodist University. I’m a technologist at heart and a 20 year IT professional. Following graduation, I spent 17 years at Microsoft in various business management roles. I left the corporate world to start Coin in order to solve some of the problems that exist in the marketplace today. Our mission is to make Digital Assets Simple.

I am in the United States and our team is global. However, our operations are headquartered in NYC (as it is the financial capital of the world and has a concentration of our partners, advisors, and legal counsel). Speaking of the team, we are a team of six global resources. We are hiring, so please reach out if you’re looking to join a dynamic innovative startup with a great company culture.

D. | Satoshi Club: Nice! Satoshiclubbers maybe it’s your chance. By the way, can i ask why did you decide named your project so simple – Coin? 😊

Damon: Our mantra is simplicity. This includes everything we do from the platform to even executing processes internally. If it’s not simple, we don’t want to do it.

With that said, we wanted branding that was simple, consumer-friendly, and memorable… and Coin arguably represents the simplest term in our industry.

In fact, we even own the trademark for $COIN.

Q1 from Telegram user @yzmoney

“Quite simply, Coin Exchange is a P2P cross-chain decentralized cryptocurrency wallet, exchange, and AI assistant that is powered by atomic swaps and artificial intelligence. ”what is the different of your wallet between other popular wallet like trust wallet, exodus, coinbase wallet and others ? Are we able to trade directly with other users with coins’ wallet? how does coins’ wallet match the buy-sell order among users?

Damon:The two major advantages we have over most wallets and DEX’s today are:

• Cross-chain interoperability
• Integrate AI to help consumers save time and money

Here are some demos of the AI piece in action: https://bit.ly/3nmIYLQ https://bit.ly/2WdW16D

D. | Satoshi Club: Thank you! we have question about your AI 😉 (second question) looks like it’s something new at the market.

Damon: And yes, everything is P2P and on-chain. We leverage atomic swaps in order to execute exchanges on-chain. When you send an exchange order through our system, we make a call to the chain to release those funds on your wallet (based on your pre-signing transaction) and then those funds are moved to a contract on the chain.

The HTLC standard allows for the chains to communicate with each other to execute it. If another order matches, it will be placed by the other user / chain into the same contract and then execute. If not order is found by X time / date, then the funds are unlocked and returned back to your wallet. Our platform is anonymous, non-custodial, and completely decentralized with all transactions on-chain. We do not store any user data and there are no databases. Unless someone hacks the blockchain itself, it’s “unhackable”.

D. | Satoshi Club: How many chains your project supports?

Damon: Upon launch to MainNet next week, we will support 4. Namely:

• COIN
• BTC
• ETH
• USDT

However, that is just the initial list of tokens we will support upon launch. We expect to expand that list rapidly once we confirm that the network and platform are operating as expected. Through 2021, we plan to open it up and support 100’s of tokens.

Q2 from Telegram username @peterthesaint

The AI powered assistant that you’ll provide seems to be a game changer. Can you share with us how will it work, how will it benefit the users and if it’s powered by blockchain technology?

Damon: So we believe that this is one of key differentiators. By leveraging AI, we provide a fresh digital assets management experience that is simple, autonomous, and personalized. For example, you can even send or exchange funds by typing commands from any input field on the web such as, “send $30 btc to @damonnam” and easily execute transactions in seconds.

Other use cases include, recognizing the 20 day moving average for Bitcoin and providing that price insight to you while you are making a trade. Or perhaps recognizing that gas prices are high and scheduling to send your transaction later when it hits a certain GWEI, etc.

We’ll even recognize blockchain keywords on a webpage and hightlight them (similar to Grammarly) and upon hover, provide meaningful insights. Our Coin Exchange also learns, evolves, and helps you navigate your financial journey. We understand crypto is confusing and difficult. And while crypto is trying to disrupt finance. We want to disrupt crypto.

Gold Rocket | Satoshi Club: You have big plans! By the way, would you share your roadmap?

Damon: We’ve even developed some proof of concepts that enable you to accomplish this using voice input as well. For example on Alexa and Google home. We are still exploring the security models around this; however, think that it’s a natural evolution for the platform as voice input becomes more predominate.

In our roadmap, we will add additional token support, integrated more 3rd party wallet support, increase our neural net, but most importantly, build developer programs that empower the community to build on top of our foundation.

Q3 from Telegram username @surdumiha

I like it very much that there will be no kyc or user data storage involved, although I don’t quite understand how will it work. If there will not be enough users on the exchange, who’s going to cover the orders? If i want to sell BTC no there are no people willing to buy it, what’s going to happen in a situation like this?

Damon: In the short-term we know we may not have enough users to fill our order books. To circumvent this, we wanted to create a relationship with a reputable company / brand that could help support us. So we created an alliance with Coinbase to be a liquidity provider for us. Longer term, we hope to wean ourselves away from that dependency as we gain more users and fill up our own order books.

In addition, we have our own liquidity pools that users can create and become their own “market maker”. From there, they will receive 50% of the revenue for each trade.

Q4 from Telegram username @ammargen

Your revenue model is based on the revenue generated by the 1% exchange fee. Will this fee be charged on each transaction or only on certain types of activities?

Damon: For exchange transactions.

Q5 from Telegram user @Pratze

I want to ask about your airdrop. In website it said airdrop only for existing ‘COIN’ holders but why TRUSTSWAP said the airdrop ‘COIN’ is only for SWAP Holders? Which one is true? Can you please explain?

Damon: Both are true. There will be an airdrop for Coin and Swap holders to show our appreciation for your support in both communities.

Q6 from Telegram user @Winterkom

What will be the most important characteristics of Coin Wallet? Will it be available for both PCs and smartphones?

Damon: Our platform support will be available on web and via browser extensions for the most popular browsers. The web version is fully responsive and supports a variety of devices. We plan to have native mobile apps in the future.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

Due to schedule problems, our guest could not choose the questions and part 2 had to be postponed.

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PART 3, QUIZ AND INFO

As usual, Satoshi Club Team asked the chat 4 questions about Coin Project. A link to a Quiz form was sent into the chat. Participants had 7 minutes to answer. 600$ were distributed between the winners. You can check the list of winners here: https://t.me/Satoshi_club/491636

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:

Coin – $COIN™ Official Telegram Channel: https://t.me/CoinDeFi

Website: https://coindefi.org/

We are pleased to announce our next AMA on January 8th 2021 at 05:30 PM UTC Time: Satoshi Club x SparkleSwap

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

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

Part 3: 300$ – A quiz about SparkleSwap

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

A decentralized alternative service level agreement. Use DSLA to hedge against staking risks, and earn rewards for protecting staking deposits!

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from DSLA Protocol. The AMA took place on December 21 and our honorable guest was the CEO of the project, Wilhem Pujar.

The total reward pool was 2500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

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

Wilhem Pujar – Stacktical: Hi again everyone! Ready to do this?

Mary | Satoshi Club: Could you please introduce yourself and tell us more about Stacktical?

Wilhem Pujar – Stacktical: Sure thing! Let’s start there. My name is Wilhem Pujar, CEO of the Stacktical company, core developers of DSLA Protocol. Nice to meet you all!

I spent the past 12+ years juggling between the business and DevOps side of infrastructure management in various companies of all sizes. Execution, frontend, backend, smart contracts, product design… I have a quite holistic approach to the projects I contribute to.

Mary | Satoshi Club: When and where did you get idea to create Stacktical?

Wilhem Pujar – Stacktical: Good question! Actually, DSLA Protocol (and not Stacktical, our company) comes from a hands on experience at France’s national broadcast tv channel, France Televisions. I was the lead web architect for multiple high-traffic platforms crippled with scalability challenges. At the time, I thought there had to be a better way to scale than all-nighters.

So I started working on a way to predict the scalability of online service using mathematical models, then ultimately went on to decentralize SLA contracts.

Mary | Satoshi Club: Oh, everything we create is based on our previous experience and our desire to make everything better.

Wilhem Pujar – Stacktical: Experience is intellectual yield, indeed.

D. | Satoshi Club: What is DSLA Protocol and what does it do?

Wilhem Pujar – Stacktical: DSLA Protocol is a decentralized alternative to SLA contracts. Our objective is to enable developers to build applications that can reduce users’ exposure to infrastructure risks using SLA contracts, cryptocurrency liquidity pools, and programmable cryptocurrency payments.

DSLA Protocol enables anyone to vouch for the reliability of an online or connected service and get paid when the service performs as expected. Conversely, users get compensated when the service does not meet pre-defined performance and reliability objectives.

As developers ourselves, we use DSLA Protocol to provide proof-of-stake delegators with a financial hedge against delegation risks, while incentivising the Quality of Service (QoS) of proof-of-stake validators and staking pool operators. Our MVP is live at https://DSLA.network for those of you who want to give it a try!

Mary | Satoshi Club: Which requirements do you have for testing?

Wilhem Pujar – Stacktical: No special requirements, test ETH (Kovan) and test DSLA tokens. We’ll roll out an update enable you to mint test DSLA tokens to easily try out the dapp.

Q1 from Telegram user @iulya_i

You had a 175% growth in the last 7 days and also you announced a partnership with Elrond. Are those 2 things related to each other? What is the main purpose of the partnership with Elrond and what are the benefits?

Wilhem Pujar – Stacktical: Good question, important for the future of our product initiatives in 2021 and beyond. I won’t comment on our (market cap) growth itself, for obvious reasons. What I can say though, is that we are humbled by the fact that leading networks trust we are building something valuable.

We are definitely gaining more exposure as we onboard new networks to DSLA Protocol. Communities merge, and collaboration paves the way to better and/or new products. In the specific case of Elrond, DSLA “Elrond Edition” is the first announcement of a series of maximalist ports of DSLA to other networks than Ethereum, catering to difference audiences, with different capabilities and addressing different use cases. The main benefit for us is 100% of the Staking Risk Management market, and for our users, it’s all about the choice to use our Ethereum, network agnostic version or the “maximalist” version they like.

Mary | Satoshi Club: Can you name the next or give us a hint?

Wilhem Pujar – Stacktical: Haha, You’ll hear about them soon enough. But they are surprisingly large, if you consider that DSLA is relatively unknown for now.

Q2 from Telegram user @dominiksss

There are no trustworthy, cost-effective ways to reduce customers’ exposure to third-party service failures. And you aim to solve this. In other words, if I supply 10k on venus app and for some reason their smart contract is exploited, I can use your services to protect myself from this cases in the future?

Wilhem Pujar – Stacktical:Well, the first part of this question is extracted from our official deck at https://storage.googleapis.com/stacktical-public/STACKTICAL_DSLA-DECK.pdf

I invite everyone to check it out, it’s a great way to do a 5m initial DYOR about DSLA Protocol. To answer the rest of the question, smart contract exploits are not in the scope of DSLA contracts. This is more something that an insurance should handle. Mostly because it’s a one-shot security event, whereas service level agreements focus on providing a hedge against continuous risks using performance time series.

Mary | Satoshi Club: Btw, i haven’t seen this before, very nice visualization 👍

Wilhem Pujar – Stacktical: Glad you like it! Spread the love 🙂

Mary | Satoshi Club: What kind of insurance? Do we have it on market?

Wilhem Pujar – Stacktical: There are a lot of (DeFi) insurance products popping everywhere right now. Exploits are generally associated with Nexus Mutual and a couple others. Insurances are one-sided an only provide some form of coverage and rewards for liquidity providers though.

D. | Satoshi Club: Yes, that recent hack was very scary.

Wilhem Pujar – Stacktical: Yes, but it does impact the ability of the solution to work as intended. Contrary to DSLA, insurances are centralized in how they assess risks, claims and proceed with governance changes. On Nexus Mutual, elected members are NXM holders with membership rights.

Mary | Satoshi Club: Very centralised I want to tell.

Wilhem Pujar – Stacktical: On DSLA, nobody needs to assess risk or claims. It’s pure mathematical performance time series. Glad to be able to discuss the differences with everyone! It will matter a lot as we will bring DSLA to different industries.

Mary | Satoshi Club: I think it’s still a bit hard for understanding) i just got a question in pm) “If you need to explain DSLA to your 10 years son how would you do this”. 😂

Wilhem Pujar – Stacktical: I would say that DSLA is a collection of smart contracts that lets anyone add a money-back guarantee to any service based on their monitored performance. And it can do money-forward, to reward service providers for their excellent job.

And for traders, that would be an option call/put, on the future performance of a given service! We have a lot in common with a prediction market.

Nice! I know it can feel a tiny bit daunting, but once you get it, you can apply it to all can of performance-driven industries. As I expressed in other AMAs, we know for a fact that space exploration, for example, needs a protocol like DSLA to guarantee the reliability of space infrastructures and inter-satellite communication.

Q3 from Telegram user @vinniepu

On the website it’s mentioned instant crypto compensation in case of failure and instant crypto rewards in case of success. Who is distributing those funds and are they made through a smart contract? If yes, what if the parties want to change the terms of the contract. Would it be possible to edit the smart contract?

Wilhem Pujar – Stacktical: Love this. So basically, to create a hedge against staking infrastructure risks, both proof-of-stake delegators and their validator will stake DSLA tokens to a DSLA contract. This pool is depleted after DSLA contracts are verified. On a weekly basis, for example.

If the contract is breached, the delegators get compensated based on their stake (money-back). Conversely, if the contract is honoured, the contract creator (either a validator or someone vouching fo rone), is rewarded. DSLA can also be used to trigger and settle DSLA contract update workflows (e.g. Company A needs more TPS from Provider 1).

If you are familiar with DevOps and IT Service Management, this will remind you of some of the things you’ll find in APM/NPM tools. We’re definitely building a fully-fledged risk management protocol, and DSLA contracts are a new form of governance vehicle.

Mary | Satoshi Club: Who created this contracts? How big is your team?

Wilhem Pujar – Stacktical: Either someone representing a staking pool, e.g. Everstake, or someone willing to bet that Everstake will do a great job. The DSLA Protocol contracts themselves are created in-house by our core team. As of today, DSLA Protocol is a team of 10 people working on marketing, advocacy, product management, development and operations.

5 devs, including myself + the technical support of core teams like Elrond’s and other unannounced leading teams in the industry.

Q4 from Telegram user @kafeinen

it’s stated on your website that reliability claims are auditable through a secure, resilient index of service analytics. Please explain what’s this index of service analytics?

Wilhem Pujar – Stacktical: Another excellent question, directly connected with our Chainlink partnership. As I said before, DSLA contracts are enforced using performance time-series. We continuously collect and decentralize staking analytics to an index, that the protocol uses to establish that a DSLA contract has been breached or honored. We’re currently building a Polkadot version of this indexer, as per our W3F/Polkadot grant. You’ll hear much more details about this initiative next year.

Chainlink is responsible for bridging the index and the protocol smart contracts.

Mary | Satoshi Club: You have Polkadot grant?

Wilhem Pujar – Stacktical: Yes, we are W3F / Polkadot grant recipients. Working on bringing our research on ITSM, performance and reliability management to the Polkadot ecosystem.

A couple months ago, we shipped https://github.com/Stacktical/willitscale-polkadot “A Predictive Analysis Platform for Blockchain Network Researchers.”

Mary | Satoshi Club: Actually, i see, that all projects are happy to welcome DSLA) do you have competitors in this field?

Wilhem Pujar – Stacktical: You always have competitors! Our competition is any solution that aims at reducing exposure to risks and improving the QoS of connected and online services.

This breaks down into:

– 1/ ITSM Platforms or Products with Service Level Management capabilities

– 2/ Insurance products from (decentralized) insurtech companies

Mary | Satoshi Club: I know all kinds of projects but i never heard about those, who will reduce exposure to risks etc.

Wilhem Pujar – Stacktical: Yes, there are a lot of ways to improve the experience of your customers.

Here’s what I believe to be a good way to map the space between Insurance and Governance.

D. | Satoshi Club: By the way could you please share information about your token, what it’s function in your system? because there are only 2 question left in this part and none of them about your tokenomics 😄 and as i know you had a token burn event not long time ago. right?

Wilhem Pujar – Stacktical: Sure, it’s an important topic, often misunderstood. Issuing a coin gives core development teams the ability to adapt monetary policies to the use case they are building. As IT Service Management professionals, we have always been looking for a scalable way to draft, monitor and enforce SLA contracts, as well as a budget to incentivize Site Reliability Engineering practices.

So we meshed ITSM practices and crypto economics to build one. The DSLA token is a tokenized version of “service credits”, that have been used by DevOps, Customer Support and Marketing teams in the web hosting, telecom and logistics industry for decades, but lacked a standard until now.

As a utility token, DSLA serves the purpose of:

• Hedging against risks by Staking SLA premiums to DSLA contracts, as a Voucher / Provider / Customer
• Earning SLA rewards at the end of a SLA period, upon breached or honoured DSLA contract
• Stabilize SLA premiums with utility token burns (e.g. upon SLA reward claims)
• Triggering and settling DSLA contract update workflows (e.g. Company A needs more TPS from Provider 1)
• Driving governance and design changes in DSLA Protocol (e.g. SLA reward distribution split)

Our recent token burns was a radical step towards reducing the power of the core team to empower the rest of the community, and pave the way to a more decentralized governance of the project.

D. | Satoshi Club: I have a small additional question, so total supply of your token will be increasing or decreasing through the time?

Wilhem Pujar – Stacktical: The total supply of DSLA will actually decrease over time, with usage of DSLA Protocol.

Q5 from Telegram user @occupyingmars

Your project seems to be based on solid tech. Why do you need a farming option?

Wilhem Pujar – Stacktical: There’s no “farming” option so to speak. We’re only interested in creating incentives for the project to move forward.

The liquidity mining program was designed to thank our Uniswap liquidity providers for pouring their ETH + DSLA into our official pool. I think these practices are simply poised to become standard. But beyond Uniswap, liquidity mining is a great incentivise to lock funds in any kind of vault. Like DSLA contracts…

Mary | Satoshi Club: For sure, but you took this opportunity.

Wilhem Pujar – Stacktical: We did! But as an extra. Food coins only do farming, which is not an utility by itself.

Mary | Satoshi Club: Yes, that’s true. If i will buy your coins what i can do with them? As ordinary crypto user.

Wilhem Pujar – Stacktical: All of the things described here! I think one of the key aspects of delegating is that, it’s really something for the regulator crypto users.

It’s basically a cryptocurrency savings account. It makes sense for you to hedge against losses and potential drops in performance of your validator. We recently ran an incentivized beta for DSLA in November, with documentation available at https://readme.stacktical.com/dsla-incentivized-beta/

The official user manual is still a work in progress, but it’s a great way to get started with the experience.

Q6 from Telegram user @debrasnider

Is stacktical focused on infrastructure-level threats and vulnerabilities only or is it like an insurance against anything bad that can happen to a project?

Wilhem Pujar – Stacktical: Anything that can be monitored over time, in any industry. Staking SLAs is our flagship use case. But you can have Clean Air SLAs for ecological governance, Airport SLAs to enforce a consistent quality of service across airport service providers and much more. Generally, when data, services, goods are delivered, and people are transported, there is a risk of delays and outages.

Mary | Satoshi Club: And this is something non-blockchain related) did you try to make partnerships with non-blockchain projects?

Wilhem Pujar – Stacktical: We’re focused on addressing these systemic, infrastructure risks, because they’re foundational to building the neighborhood, city, country and cross-planet world of tomorrow. Yes, we have large Fortune 500 level companies that expressed strong interest in DSLA. More about that soon.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @Spott

What are the requirements for POS/DPOS users to make use of DSLA protocols?

Wilhem Pujar – Stacktical: We must add support for the network of your choice in DSLA Protocol. As of today we’ve officially announced support for ONE, BAND, DOT and eGLD staking SLAs. Much more to come when we launch on the mainnet in Q1 2021 and beyond.

Q2 from Telegram User @jerryziz91

How is DSLA different from regular code of conduct SLA? How do you plan to get DSLA contracts more adopted with the businesses? What’s advantageous in it with the decentralization layer?

Wilhem Pujar – Stacktical: Traditional SLA are hard to negotiate, monitor, upgrade and enforce. They’re also disconnected with the payment of compensation, that goes through a different customer service process involving a lot of intermediaries for unproven results. This approach doesn’t scale, especially when a large number of stakeholders are involved. Like in the recent AWS outage.

Q3 from Telegram User @brodzonl

Elrond is doing very good these days, I was impressed when heard you partnershiped with them. Can you tell us how are your project and Elrond helping each other to become better?

Wilhem Pujar – Stacktical: Glad you like that our teams are joining forces! With Elrond we’re working on two things. First is to add eGLD support to DSLA Protocol, so that eGLD delegators can hedge against staking infrastructure risks, while eGLD validators get incentivized for their operational excellence. Second, is to create an Elrond-native version of DSLA Protocol to address high throughput use cases that are not currently possible on Ethereum.

Q4 from Telegram User @smelekin

How can I make investment into your project, is it through uniswap?

Wilhem Pujar – Stacktical: DSLA is currently available on 1inch.exchange, Uniswap, Mooniswap, Balancer, IDEX and a couple other CEX exchanges. The best place to acquire tokens is 1inch, since it’s aggregating liquidity from all of our DEX pools.

Q5 from Telegram User @mogdirect

What should we expect in the next 5 years as DSLA users?

Wilhem Pujar – Stacktical: In the short term, we are focusing all our energy on the mainnet launches of DSLA Protocol and DSLA.network, our flagship dapp, in Q1 2021. We are onboarding increasingly more staking pool operators for this key release and milestone.

The future is both about growing our flagship Staking SLAs use case on the mainnet, and making more strategic alliances to empower our developer community to take DSLA beyond Staking SLAs.

With DSLA, infrastructure operators of all kinds can reduce their customers’ exposure to infrastructure risks, and differentiate themselves through verifiable commitments to Quality of Service.

Q6 from Telegram User @crycket

1. A one-time Defi contract exploit is not really the use case for DSLA, but could a stable return over a period of time be an application for DSLA?
2. Unlike many projects, DSLA seems applicable to many industries outside of Crypto.  Do you see DSLA on boarding any “traditional” industries in 2021 and what do you see as the biggest barriers to engaging a non-crypto industry?

Wilhem Pujar – Stacktical: 1. Yes, although it’s very tricky from a regulatory standpoint to “promise yields”.

 2. We have specific plans to onboard large European financial institutions, energy and telecom providers in 2021, but we don’t really control how ready traditional companies are to join the cryptocurrency revolution.

Q7 from Telegram User @DrCassiterite

Give me reasons why I use make use of DSLA other than other projects?

Wilhem Pujar – Stacktical: We have competition but there’s nothing like DSLA on the market. If you don’t use it, well you won’t use anything. 🙂

Q8 from Telegram User @sirdefi

I’m very curious to know that the DSLA Protocol started in 2019 and according to its roadmap it is next year that they plan to launch the mainnet. What has been the reason for this delay?

Wilhem Pujar – Stacktical: There is no delay. Products must ship when they’re ready to meet their market, after properly validating functional, non-functional and security requirements.

Q9 from Telegram User @shuvoapon5

A lot of new projects have been launched around us now.  60% of which are scamming.  In such a situation, investors are removing themselves from new projects.  New projects in particular are failing to deliver on their promises, leaving investors with huge losses.  Can you clearly say why investors will like your project and why they have confidence in your project?

Wilhem Pujar – Stacktical: We have a consistent track record of hitting our milestones. Our progress is tangible, and we’re growing on pretty much all dimensions. I can’t speak for the community, but I feel like we’re getting to a point where the value proposition of a risk management protocol like DSLA, with actual commercial viability, is crystal clear for everyone. They also know we live by the hustle and won’t let them down.

Q10 from Telegram User @KhaleesiTheCryptoLady

What was the biggest mistake you did in your entire crypto journey? And how did you deal with it?

Wilhem Pujar – Stacktical: It takes a bit of time to understand that community development is not scalable. It’s a 1:1 relationship, you need to invest a good chunk of your time truly getting to know everyone. Today, I feel close to a lot of DSLA champions. I know I can meet them for beers any day. We’re definitely in this together.

Q11 from Telegram User @Joshblaze

What other utilities are you and your team working on?

Wilhem Pujar – Stacktical: Along with reducing exposure to staking efficiency drops, slashing and more in Proof-of-Stake networks, we are working on enabling DeFi AMM liquidity providers with ways to reduce their exposure to impermanent losses, using DSLA contracts.

Q12 from Telegram User @LLeeKuanYew

Currently, I see Stacktical being traded for the majority of the money on DEX exchanges. Do you have any plans to list on CEX in the near future?

Wilhem Pujar – Stacktical: Yes, although I’m a DEX person, we understand that the community also wants CEX options. We’re already in discussion with several large CEX to make it happen.

Q13 from Telegram User @Arabedans

I saw your tweet about DSLA X BNB. Do you plan to build a product or test staking on Binance Smart Chain?

Wilhem Pujar – Stacktical: You have good eyes, friend. We look at all interesting networks, and move accordingly. Definitely a lot going on with BNB / Binance Smart Chain, so wait and see.

Q14 from Telegram User @curiosoAMA

Does DSLA Protocol have a mobile application for Google Play or App Store?

Wilhem Pujar – Stacktical: No, but we do think a lot about the end users, and the devices they use. In our findings, it’s pretty rare to manage any kind of risk from your phone. That’s more of a desktop activity, where you better control mind and body.

Q15 from Telegram User @tsafik

I read through your social media and noticed that you also have bDSLA tokens, what are those and how can the users get hold onto those? Is it restrictively for the beta testers?

Wilhem Pujar – Stacktical: bDSLA tokens were used during the beta in November. On the mainnet, we’ll use real DSLA tokens (https://etherscan.io/token/0x3affcca64c2a6f4e3b6bd9c64cd2c969efd1ecbe)

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about DSLA Protocol. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 1900$ were distributed between the winners.

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

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

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

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners: DSLA Protocol: https://t.me/stacktical

We are pleased to announce our next AMA on January 8th 2021 at 11:00 AM UTC Time: Satoshi Club x MiniSwap

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

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

Part 3: 300$ – A quiz about MiniSwap

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