Month: January 2021

PART 1. Introduction of GoldFinX project and community questions.

Hello, Satoshi clubbers and guests of this site, let’s learn for earn. 

Gold has always been considered an eternal value. Today we want to present a project that thanks to decentralized finance empowering artisanal gold mining.

They provide adequate capital to Artisanal Gold Mines worldwide while helping them to employ socially conscious and sustainable mining methods that reduce the negative impact on the surrounding ecological systems.

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club and Luis Merino 🇪🇸 | Satoshi Club

The Representative of the project:

Philippe Bednarek – @PhilippeBednarek –

The CEO of GoldFinX and the founder of Atlas Group of Companies, a private equity firm investing in technology since 1995!

Introduction of GoldFinX project

Luis Merino 🇪🇸 | Satoshi Club:

Hello SatoshiClubbers! Welcome to another AMA with us. Christmas Eve one 🙂

@PhilippeBednarek welcome!!

Gold Rocket | Satoshi Club:

Good evening dear Satoshi Club!👋❤️

Philippe Bednarek:

Hello everyone! I am glad to be with you!

Gold Rocket | Satoshi Club:

Hello! Merry Christmas🎄 Thanks for joining😊

Luis Merino 🇪🇸 | Satoshi Club:

Merry Christmas everyone 🥰

Gold Rocket | Satoshi Club:

Please tell us a bit about yourself. How did you develop in crypto? And also about your project. What is Goldfinx? @PhilippeBednarek☺️

Philippe Bednarek:

I am the CEO of GoldFinX but also the founder of Atlas Group of Companies, a private equity firm investing in technology since 1995!

Luis Merino 🇪🇸 | Satoshi Club:

Interesting!! 😊

Philippe Bednarek:

The group came to crypto as an investor in 2016

Gold Rocket | Satoshi Club:

Amazing road to crypto!😊

Philippe Bednarek:

We were also investing in Gold (trading trackers etc..)

Luis Merino 🇪🇸 | Satoshi Club:

@GoldRocket27 likes this 👀

Philippe Bednarek:

I personally know gold very well, trading it and more importantly sourcing for 15 years

Gold Rocket | Satoshi Club:

😁 Yes. gold rules the world! 😉

Philippe Bednarek:

But I noticed that something was wrong in this market, 80% of the world’s production is done by major listed companies without any financing problems.

Gold Rocket | Satoshi Club:

So what is this your crypto gold? GOLDFINX.

Luis Merino 🇪🇸 | Satoshi Club:

15 years! That’s a lot.

Philippe Bednarek:

20% is extracted by miners with rudimentary tools without any access to capital.

Gold Rocket | Satoshi Club:

I read you finance small gold mines. Am I understanding the project concept correctly?

Philippe Bednarek:

Yes, we focus on artisanal mines which have huge potential but no money to extract it.

Gold Rocket | Satoshi Club:

I think this is a very promising direction!👍

Do you want to add something? Or can we move on to community questions?

Luis Merino 🇪🇸 | Satoshi Club:

That’s great

Philippe Bednarek:

Think about it: most of these miners are using the same way to extract gold than a thousand years ago! If you give them the equipment they produce X10 times more. This is a very simple business model: We finance and we get 20% of the total production for the lifetime of the mine.

I am ready to answer your questions!

Gold Rocket | Satoshi Club:

Besides, this is social assistance for the miners, I think.

Luis Merino 🇪🇸 | Satoshi Club:

Love the idea behind everything 😀

Philippe Bednarek:

The social and environmental impact of what we do is the essence of GoldFinX

Luis Merino 🇪🇸 | Satoshi Club:

Let’s go then

Preselected questions about the GoldFinX DeFi project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @Pratze

GoldFinX project has a token that backed by the real Gold or backed by a real operating mine, So do you have your own operating gold mine? What is GoldFinX specialty than other stable coins or tokens which back by real gold?

Philippe Bednarek:

We are not operating gold mines, we finance them and we get a share of 20% of their production for the lifetime of the mines (usually between 15 to 20 years).

The main difference with stable coins backed by gold is that we are not raising money to back our coin, we raise money to finance gold mines which deliver us gold accumulating in our Reserve backing the coin.

So in our case, the underlying asset is growing and not stable. I hope I answer your question Pratze.

Gold Rocket | Satoshi Club:

Yes, your answer is clear! Thank you! How big is your team?

Luis Merino 🇪🇸 | Satoshi Club:

Clear answer! 👏👏

Philippe Bednarek:

We are 27 in total, a mix of crypto and mining profiles, all ages, and 10 nationalities!

Luis Merino 🇪🇸 | Satoshi Club:

Not a small one 😜

Gold Rocket | Satoshi Club:

27 my favorite number 😁

Philippe Bednarek:

We will be 40 next year-end as we expand our mining reach to Canada and Bolivia.

Gold Rocket | Satoshi Club:

I just wanted to ask in which countries your mines are located👍

Philippe Bednarek:

Today we have 3 mines financed in Ivory Coast, we are now expanding in Bolivia and Canada (Yukon and Quebec)

Luis Merino 🇪🇸 | Satoshi Club:

And GOLDfinX…this is your AMA 😂

Gold Rocket | Satoshi Club:

❤️ I love it

Luis Merino 🇪🇸 | Satoshi Club:

Can we jump to the next question?

Philippe Bednarek:

Sure!

Gold Rocket | Satoshi Club:

Q2 from Telegram user @reinleoken

Most people in the crypto are of the opinion that storing of value in gold is antiquated, it’s almost like gold vs crypto. How certain are you that your platform would bridge the gap between these opposite factions? And what happens if the value of gold drops, does that mean the value of GiX drops? And lastly, over the years we have seen crypto increase value a lot more than gold, how do you convince folks to buy a token backed by gold when Bitcoin itself is projected to give better returns on investment?

Gold Rocket | Satoshi Club:

Sounds good👍

Philippe Bednarek:

First, I think gold and crypto will coexist and are not necessary “opposite factions”. Same as debt and equity coexist and sometimes are combined ( as in convertible bonds i.e), I strongly believe there is a huge opportunity for this bridge between crypto and gold.

Your 2nd question about value: yes a gold price drop could affect the value of the GiX, but remember it is an ever-growing asset in volume. Every month, sometimes weekly, we receive a shipment of gold that accumulates in the Reserve.

Finally about Bitcoin: I am a big believer in BTC and compulsive HODLER!  but I think portfolio diversification is always a good rule. And a special coin like GiX has its place in an investment strategy.

Luis Merino 🇪🇸 | Satoshi Club:

Portfolio diversification is essential in crypto 😀

Gold Rocket | Satoshi Club:

By the way! please share your tokenomics?

Philippe Bednarek:

We are very transparent in our data: We raised 15,871,000 Euros so far. We have 18,103,766 GiX circulating + 5,000,000 GiX for the team and contributors locked up for 5 years.

Gold Rocket | Satoshi Club:

“Diversification is always a good rule” as you rightly said .. besides, BTC is also gold in some way 😉

Luis Merino 🇪🇸 | Satoshi Club:

👏🤩

Gold Rocket | Satoshi Club:

Everything is clear to me👍 thanks! Can we proceed to the next question?

Philippe Bednarek:

Yes!

Gold Rocket | Satoshi Club:

Q3 from Telegram user @victorogb

My question is quite simple, Why focus solely on Gold when there are other precious metals and minerals mined around the world which need the same environmental preservation and best mining practices?

Philippe Bednarek:

You are right but we cannot do everything. The Artisanal gold mining is the cause of 1 million tons of mercury released every year in the rivers and oceans (to produce 600 tons of gold !). 40% of the mercury in the oceans comes from this activity…

Gold Rocket | Satoshi Club:

Your opinion, can this be somehow changed for the better?

Philippe Bednarek:

Yes, there are many NGO working on it but they take the problem on the wrong side. We think access to capital, efficiency, and productivity is the solution. If miners are barely surviving from their work they will continue to use mercury. Mechanization prevents the use of mercury, but it is costly. They cannot afford the investment, this is where we come in.

Gold Rocket | Satoshi Club:

Thank you very much for taking care of this.😊

Luis Merino 🇪🇸 | Satoshi Club:

Q4?? Or do you have something to add?

Philippe Bednarek:

Just to say GoldFinX is not a charity, it is a profitable business but its social and environmental impact is immense. Our motto: Do good, Receive Good!

I am ready for the next question!

Gold Rocket | Satoshi Club:

Great motto!👍

Q4 from Telegram user @Garrinepotter

Coinmarketcap and CoinGecko provide different data on the total supply of the token. After checking the contract address, I made sure that the data on CoinGecko is correct. But if it is easy to verify, then there are points that I would like to clarify. Trackers do not show the number of circulating tokens. And I did not find any data on the tokenomics. Considering that the first private sale was back in 2018, I would like to know more about how many tokens are in circulation, which funds own them, maybe there are some blocked tokens … Partially answered.

Philippe Bednarek:

Yes, I think I did.

Luis Merino 🇪🇸 | Satoshi Club:

Exactly

Philippe Bednarek:

Just to add: We have no whales in our coin holders database.

Gold Rocket | Satoshi Club:

I understood you! Thank you! please share some useful links for our community. For example, where can I buy a token? What exchanges?

Perhaps you want to add something? For Harry Potter😁

@Garrinepotter

Luis Merino 🇪🇸 | Satoshi Club:

🙏🏻

Philippe Bednarek:

Last word: we have a loyal coin holder ownership, they are with us for profit but also for a purpose

Philippe Bednarek:

The GiX is listed on Bitmart and Coinsbit.  We have also an OTC desk on www.goldfinx.com

Gold Rocket | Satoshi Club:

Thank you! Ready for a new question?

Luis Merino 🇪🇸 | Satoshi Club:

And do you plan to add other exchanges?

Philippe Bednarek:

Yes, we are talking to Huobi and Binance, they love our “impact coin” proposal. Our GiX is really a different asset. But we take our time and focus on the execution of the business plan

Luis Merino 🇪🇸 | Satoshi Club:

Really looking forward to GiX listing in those huge exchanges😀

Gold Rocket | Satoshi Club:

Btw, while studying your site, I noticed that you have a mint function in the contract. tell me please what is its purpose? @PhilippeBednarek  Are you planning to increase the total supply of your tokens?

Philippe Bednarek:

Yes we are still raising money because more money means more mines to finance, and more mines means more gold to back the GiX, and its intrinsic value increases. The total minted is 300m.

Gold Rocket | Satoshi Club:

Thank you! ready to jump to the next question?

Philippe Bednarek:

Ok!

Gold Rocket | Satoshi Club:

Q5 from Telegram user @leixagarcia

I want to confess that your project has moved me a lot… I am Venezuelan, specifically from one of the States or Provinces richest in gold and I have lived face to face all the consequences that are the product of bad planning in the exploitation of gold. I can make you the long tragic story, but just by telling you that this site is the biggest focus of Malaria in the whole country, I think it is more than enough.

My question is this: How does GoldFinX promise to solve this terrible problem of Malaria? I know it is only one problem among many, but believe me when I tell you that this disease causes hundreds of deaths every month in Venezuela.

Luis Merino 🇪🇸 | Satoshi Club:

I like this one 😊

Philippe Bednarek:

Malaria is a tragic problem and many NGOs (like Gates Foundation) are trying to tackle this problem.

Philippe Bednarek:

Our action is focused on the Gold miner’s community, our social impact improves the living conditions in increasing the revenues of the community. The access to potable water and health structure has an indirect effect on the Malaria problem. But is modest compared to the situation and again we are more dedicated to mercury eradication. I appreciate your concern @leixgarcia

Gold Rocket | Satoshi Club:

Thanks for taking care of the environment!

Philippe Bednarek:

We have a great Ambassador program for those who want to spread the gospel!

https://goldfinx.com/ambassador/

Gold Rocket | Satoshi Club:

👏👏👏

Luis Merino 🇪🇸 | Satoshi Club:

Our community will be interested in this for sure. Many of them will apply for it.

Gold Rocket | Satoshi Club:

Can we proceed to the last question of this part?

Q6 from Telegram user @antoni_azx

What happens if a contract mining agreement is violated and you have already supported the operations with engineering, technology, strategies, and more? What will be the paper of the GiX coin in this supposal and how affects it?

Philippe Bednarek:

Good question, First, we have our people on the ground overseeing the operations on a daily basis. Second, we have a lien on all equipment, it is released only when we get our money back. Three: The equipment is equipped with trackers and remote kill switches.

Gold Rocket | Satoshi Club:

Reasonable! 👍

Philippe Bednarek:

More important: it is not a debtor/creditor relationship but rather a partnership.

Gold Rocket | Satoshi Club:

Thanks for your answers! Are you ready for the live part ???🚀🚀🚀

Philippe Bednarek:

Can’t wait!

Luis Merino 🇪🇸 | Satoshi Club:

A bunch of questions is approaching

Gold Rocket | Satoshi Club:

@LuisMe7 🚀shoot!

Luis Merino 🇪🇸 | Satoshi Club:

Dear community, we will open the chat in 30 secs for 2 minutes!! Ready…Steady…GOOO!!

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

In this part, we open a chat for the crypto community for 100 seconds. Then the guests from the GoldFinX 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 @K2ice

Why did GoldFinX decided to finance a mine in Canada knowing fully well that the region is not an impoverished region?

Philippe Bednarek:

Native tribes in Canada are barely living from their gold mining activities.

Q – 2 from a telegram user @Jinsungkay

How was the project affected by the Covid 19 outbreak? Did it lead to a change in your roadmap? Thx.

Philippe Bednarek:

Yes, we were supposed to already deployed in Bolivia. Instead, we chose to finance more mines in Ivory Coast where we have a team, a local headquarter, and a lab.

Q – 3 from a telegram user @MCBTrade

Many projects focus solely on selling tokens rather than making a real contribution to the blockchain world. Will GoldFinX really fix a problem?

Philippe Bednarek:

We are not fixing a blockchain problem, we are fixing a real-world problem with blockchain. Before our initiative, nobody in the traditional finance world cared about gold miners in the jungle and the 600,000 working children intoxicated by mercury. Crypto gave the opportunity to do something good for them, for the planet, and for the coin holders.

Q – 4 from a telegram user @feranno

Are there any big updates that you would like to announce or have planned that we should look out for?

Philippe Bednarek:

We are working with United Nations agencies who support our initiative! Big announcement for Q1

Q – 5 from a telegram user @KASG95

Really how far can GoldFinX go? only get 20% royalties? or are there really many more projects that you want to develop?

Philippe Bednarek:

A long term deal must be a fair deal. We are not predators. We could ask for 30 or 40% but for how long it will last? We have more than 50 mines in our Due Diligence pipeline in Africa, South America, and Canada.

Q – 6 from a telegram user @ronaldo_super

To extract gold from the ground, cyanide is required and it is really deadly to people. Do you have plans to overcome this problem?

Philippe Bednarek:

Sorry, but you don’t need Mercury and Cyanide to extract gold. Good equipment using gravity does the job but it is expensive.

Q – 7 from a telegram user @lzamg

GoldFinX has been out there for a few years now. Can you tell us about the development of the project in the past few years? What have been the most important achievements until now? What would you say is the event or events that have made a difference in the growth of GoldFinX?

Philippe Bednarek:

GoldFinX is a 2.5 years old company. We raised 18m, we have a database of 400 mines worldwide, 50 mines passed the due diligence. We have a team of developers, geologists, engineers, financiers, lawyers. 3 mines are operating in Ivory Coast, 2 more next year in Bolivia and Canada, will produce 500k of pure gold in 2021.

Q – 8 from a telegram @lchongthu

Can you tell me what is no store for long term investors?

Philippe Bednarek:

We have an OTC desk offering great discounts against a one year lock-up.

Q – 9 from a telegram user @Ferhat553

Tell me its 3 unique features that your competitor doesn’t have?
How will people attract Your project?

Philippe Bednarek:

We don’t see much competition. Most of the gold-backed coins are stable coins with not much upside to expect unless the gold prices continues to increase. Some projects are using crypto to finance one big operating mine. But I don’t know any coin financing many artisanal mines and therefore having much impact on the lives and on the environment.

Q -10 from a telegram user @testercoin

Why do you think this idea is better than just tokenize the gold?

Philippe Bednarek:

Tokenizing the gold doesn’t create any wealth. Gold certificates exist for centuries, Tokenizing is just the digitalization of an asset. What we do is totally different: we help to create wealth by giving access to capital to a deprived industry.

Part 3 – Quiz about project

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

Telegram group  |  Facebook |  Tweeter  |  Website  |  LinkedInn

The best university that can be recommended to a man of ideas is the gauntlet of the mob. And today Satoshi Club gauntlet meet with Gauntlet Finance. Here we would like to tell you about the AMA session with them. The AMA took place on January 5 and our guestwas Gauntlet Finance | Admin.

The total reward pool was 500$ + $500 in Gauntlet tokens and has been splitted in 3 parts.

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

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

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

D. | Satoshi Club: hello Satoshi Club! 👋 @Gauntletadmin how are you doing? 😊

Gauntlet Finance | Admin: Greetings everyone! Happy to be here

D. | Satoshi Club: @Gauntletadmin please tell us a bit about yourself!

Gauntlet Finance | Admin: About me, my team or the project?

D. | Satoshi Club: about everything 😄

Mary | Satoshi Club: How you started with Gauntlet Finance?)

Gauntlet Finance | Admin: We are a handful of developers who have been working in the space since early 2017. The initiative was started less than 2-3 months ago as a collaborative effort between a handful of developers, and the design rationale of the platform has been structured around supporting one of the most important core pillars of decentralized finance – liquidity provisioning.

D. | Satoshi Club: sounds good

Mary | Satoshi Club: Whith which projects did you work?

Gauntlet Finance | Admin: That I can’t disclose. The team is anonymous.

Mary | Satoshi Club: Anything?) You can do it without names)

D. | Satoshi Club: ok, we can understand that, everyone has its secrets 😉

Gauntlet Finance | Admin: Nothing. We took privacy seriously since the start of the project. It was either that or not doing it. Some of the team members are still stuck in NDAs, as a result, everyone stays anonymous till things have changed on those regards. Everyone wants to trap talent into contracts in this field, however, the field is moving rapidly, so some have made some bad decisions in the past which does not allow them to use previously acquired knowledge/work on other projects for some time.

Q1 from Telegram user @mag_crypto

I couldn’t find anywhere your maximum supply. Did I get something wrong or you do not have a designed max. number of tokens?

Gauntlet Finance | Admin: The initial supply is 100k. However, unsold tokens from the presale will be burned. The final max supply will be known after the presale.

Mary | Satoshi Club: You will have presale? When?

Gauntlet Finance | Admin: It’s ending in less than 12 hours.

Mary | Satoshi Club: Wow, how it’s going? 😉

Gauntlet Finance | Admin: In my opinion, it’s going fine, we are happy with the progress of our community. So far people are helping us improve by feeding us with their feedback on our decisions.
Here is a tokenomics breakdown:
33 GFIv2 : 1 ETH – this was the first mover bracket and is now closed.
22 GFIv2 : 1 ETH – this is the current bracket and it’s still in progress.
11 GFIv2 : 1 ETH – this is the listing price on Uniswap.
The wallets which contributed to our initial presale are whitelisted to receive an additional 25% on their contributions for expressing their loyalty to our project.

Here is a link to the contribution address: https://etherscan.io/address/0x59a1a4265b8084b3c9b4aa5eebcfd217b6509c8d

Mary | Satoshi Club: How many tokens for pre sale?) Do you have hard/soft cap?

Gauntlet Finance | Admin: There is no softcap, whatever is raised 45% of that will be locked into liquidity forever, and the maximum cap is 1080-1200 ETH. Your question regarding tokens, I answered above 🙂

D. | Satoshi Club: when listing on Uni will take place?

Gauntlet Finance | Admin: after the sale is finalized tonight.

Mary | Satoshi Club: So, to get tokens i need simply send ETH to contribution address?)

Gauntlet Finance | Admin: Yes, that’s correct. You must contribute atleast 1 ETH.

Q2 from Telegram user @karandashy

Can you tell us in more details how will the interest swap concept work? Please give us a few examples?

Gauntlet Finance | Admin: The interest swap concept is a traditional finance concept. We are modernizing it to be implementable in the decentralized finance space. So imagine you provide liquidity to a project. You align with all the requirements and terms for providing liquidity to particular Gauntlet. For example maybe you must provide 5 LP of a particular pair, and leave it in there for 3 months to reserve a position in the Gauntlet and ultimately be assigned a certificate as a proof/receipt of your actions.
If you don’t close your certificate early and let it expire then you’ll be given whatever reward the project which started the Gauntlet is offering. Now, here comes the interest swap portion, if you decide to deattach your reward prematurely in respect to the expiration of the certificate, then you can swap it or collateralize it for trades on secondary markets. Doing so will lock the liquidity that you provided till the certificate expires but you’ve got your reward instantly in exchange.

D. | Satoshi Club: so it’s definitely not for newbies in crypto? 😄 this concept for more sophisticated users?

Gauntlet Finance | Admin: It is for everyone, that’s why we iterate alot on the user experience.

The world is only going to become more tokenized, as a result everyone will have to learn about the importance of liquidity sooner or later 🙂

Mary | Satoshi Club: What about fees on your platform?

Gauntlet Finance | Admin: There will be a fee associated with closing your certificate early, since you reserved a position in a particular Gauntlet – a position someone else might really have wanted.

Mary | Satoshi Club: Btw, do you know any projects which use the same interest swap system?)

Gauntlet Finance | Admin: No. There are no projects to my knowledge that are working on NFT compatibility for liquidity provisioning in the same way as we are.

Mary | Satoshi Club: Oh, you didn’t mention NFT before 😀

Gauntlet Finance | Admin: Yes the rewards from providing liquidity to a particular Gauntlet, can also be in the form of NFTs wrapping around illiquid assets or services. Imagine feeding a village for providing liquidity for a week, sure you might get some impermanent losses but you just fed an entire village! or unwrapping a token that carries a lambo, for providing liquidity for a year to some tokenized car dealership. Splitting rent with friends for providing liquidity together, I could continue.

This is the future that we are entering. Hopefully there will be some humanity left and not everything will be about giving to receive 🙂

Mary | Satoshi Club: Did you think about any insurance, the market is so volatile now and also a lot of another risks connected with crypto now?)

Gauntlet Finance | Admin: Insurance in what context? as rewards or to liquidity providers on the platform?

Mary | Satoshi Club: To liquidity providers)

Gauntlet Finance | Admin: Maybe we can think of that as complimentary tooling. If you’re asking if we implemented an insurance layer to liquidity providers, then the answer is no. However, liquidity providers are free to close/terminate their position at any time, aslong as the reward has not been deattached prematurely.

Q3 from Telegram user @daviessss

For a project like Gauntlet community and fans are very important, maybe even more important as for other projects. That being said, there is no clear mechanism of incentivizing community creation. What is your strategy regarding this? Without a big community and a lot of holders, the token will be at a great risk.

Gauntlet Finance | Admin: This can be said for all projects, the community is of utmost importance to the mass adoption of a project. There are plenty of mechanisms for incentivising the community to grow organically, the token reacts to widespread adoption in an elastic way. If you join the community early, then you’ll benefit the most, and if you decide to leave the community then everyone who remains still benefit from your action.

Mary | Satoshi Club: Will you have any bounties for your community?

D. | Satoshi Club: yeah, maybe you planning some events to attract more users to your project?

Gauntlet Finance | Admin: Yes we will have community challenges, bounties, airdrops, and some other things that will help grow the community as well.

Mary | Satoshi Club: How many tokens allocated for this events? 😀

Gauntlet Finance | Admin: We still prioritize doing it the right way, which is putting more effort into launching well-designed products. Too many projects have great communities but alot of broken promises on deliverables. To be determined.

Q4 from Telegram user @abedmahmud

You say that GFIv2 token is related closely to widespread adoption. What exactly does it mean? Is the price changing accordingly to how many hodlers are there?

Gauntlet Finance | Admin: The supply changes elastically based on the amount of token holders that complies with the minimum ownership requirement of 50 tokens.
Everytime a new unique and compliant token holder is found, then the token supply deflates synthetically. Consequently, when a unique and compliant token holder goes below the 50 token threshold, then tokens are inflated back to the supply.
There’s a certain capacity for this behavior and this capacity is increased by penalties issued for transferring tokens.

D. | Satoshi Club: as i know GFIv2 is your second token, there was the first version, right? correct me if im wrong

Gauntlet Finance | Admin: GFI is our legacy token it has an composability issue with uniswap that the auditor did not discover and inevitably we had to redeploy the token to fix the issue.

We refunded all the participants who participated in our initial presale.

and whitelisted them for a 25% bonus for the ongoing one.

Mary | Satoshi Club: 200ETH, am i right?)

Gauntlet Finance | Admin: something like that

Q5 from Telegram user @alex_andross

The Gauntlet platform aims to give more flexible and different incentives to LPs. What do you mean by that? how will liquidity providers benefit more by using your platform?

Gauntlet Finance | Admin: Let’s compare with Uniswap since it’s the most used LP platform atm.
One issue that Uniswap currently has is that projects don’t have a way to customize the requirements and terms for liquidity providers. This means that projects don’t have a way to integrate control measurements that will result in i.e. more depth of decentralization via an increase of liquidity venues.
Next, liquidity providers are restricted to traditional fixed interest rate % rewards instead of being incentivized by the disruptive potential of tokenization and the latest innovation in NFTs, etc.

WIth Gauntlet, projects determine the requirements and the rewards. Not the platform and a project can have multiple open Gauntlets with different configurations and rewards.

Mary | Satoshi Club: Rewards are great) but how secure is your platform?)

Gauntlet Finance | Admin: We are still building it.

Q6 from Telegram user @ACMILANfanatico

Governance is included in your project and it’s great. Community should be involved in the projects decision making. But how exactly I am going to get votes? how can I convert challenger prizes to votes?

Gauntlet Finance | Admin: Once you acquire 50 GFIv2 tokens, then you can create a promise by challenging a feature built into the token termed the ‘challenger prize pool’, you can use this feature to farm additional token rewards or convert your claimable reward to voting power which can carry influential impact on the decision-making process on the platform.

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

Gauntlet Finance | Admin: There are several articles pinned in our telegram community that people are welcome to read, they will give a more detailed answer to the question.

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

Gauntlet Finance | Admin: Learn more about the token:
https://gauntletfi.medium.com/the-gfiv2-token-f6d3ee17efba
Learn more about the platform:
https://gauntletfi.medium.com/the-gauntlet-platform-56eb7e51547f
Learn more about the governance:
https://gauntletfi.medium.com/the-governance-layer-140ca82e26eb
Learn more about the token distribution event (pre-sale):
https://gauntletfi.medium.com/the-relaunch-of-the-project-77f8696e81d0

Part 2 — live questions from the Telegram community

Q1 from Telegram user @jerryziz91

Regarding your governance model – is it some simple one “hold GFI to vote” or some more advanced one like quadratic voting, or neither?

Gauntlet Finance | Admin: It’s a combination of holding GFIv2 and ‘Schelling point’ settlements.

Q2 from Telegram user @Sussant

What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?

Gauntlet Finance | Admin: Launch of audited and battletested platform Onboard traditional companies and tokenize their business model. Build tooling around our project.

Q3 from Telegram user @ronaldo_super

Do you offer your customers staking and yield farming on your system?

Gauntlet Finance | Admin: Our challenger prize pool, can be seen as ‘yield farming’ however you don’t have to stake anything, all you have to do is hold enough tokens in your wallet to participate. No need for trust in additional external smart contracts.

Q4 from Telegram user @ubuntucoder

With the defi projects rising also hackers are rising too. Do you provide any reward system for those who provides you vulnerability detection help to white hat hackers?

Gauntlet Finance | Admin: Yes we will have a bug bounty program to incentivise hackers to disclose any vulnerabilities on the platform to us instead of exploiting them.

Q5 from Telegram user @Ayshunasrin

Where the name origins from?

Gauntlet Finance | Admin: It’s symbolic to the protective traits of a medieval gauntlet and long term holding.

Q6 from Telegram user @Brainchest

Do you have anything in common with Gauntlet Network? If so, have you run a simulation of financial processes on this platform to understand the risk?

Gauntlet Finance | Admin: We have nothing in common with Gauntlet network.

Q7 from Telegram user @Joseunda

They have an article of mediumship with the title The Realunch Of The Project, what difference does the project have with the original one?

Gauntlet Finance | Admin: In the original presale the maximum potential raise was 2500 ETH and the liquidity lock 15%. The community expressed their concerns for this, so we halved the maximum potential raise and tripled the liquidity lock.
In terms of features, the new one also has built-in voting power accumulation.

Q8 from Telegram user @Khan662

Every success project has interested story before it was created . So can you tell people about the story of your project that gave you the motivation to build and develop a great project like Your project?

Gauntlet Finance | Admin: Uniswap. Without witnessing the success of Uniswap or acquiring inspiration from their project. Uniswap is a major influential source, and we are doing our best to extend on Uniswap to compliment each other.

Q9 from Telegram user @albyque

Suppose I was a user of the previous project, why would I trust again in the relaunch of this project?

Gauntlet Finance | Admin: Because we refunded everything that was raised and the liquidity that has been locked away from our own pocket as well.

Q10 from Telegram user @alyaakin

Do we only get non-fungible token (NFT) rewards from staking GFIv2 tokens?

Gauntlet Finance | Admin: Rewards for contributing to Gauntlets are determined by the projects that desire to host them. Right now you are not staking GFIv2 anywhere though.

Part 3 – Quiz Results

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

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

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

Our partners:

Gauntlet FinanceCommunity: https://t.me/Gauntletdefi

We are pleased to announce our next AMA on January 19th 2021 at 12:00 PM UTC Time: Satoshi Club x RSK

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

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

We will have the following structure:

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

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

Part 3: 700$ – A quiz about RSK

For more details:
RSK – @rskofficialcommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

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

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

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

Part 3: 300$ – A quiz about LABS

For more details:
LABS – @labsgroupio
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on January 7th 2021 at 10:00 AM UTC Time: Satoshi Club x AMEPAY

⚠️Click to see the hour
⚠️Total Reward pool: $800

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

Part 3: 600$ – A quiz about AMEPAY

For more details:
AMEPAY – @amepay
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on January 11th 2021 at 02:00 PM UTC Time: Satoshi Club x LayerFi

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

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

Part 3: 600$ – A quiz about LayerFi

For more details:
LayerFi – @LayerFiofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on January 16th 2021 at 02:00 PM UTC Time: Satoshi Club x Lepricoin

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

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

Part 3: 400$ – A quiz about Lepricoin

For more details:
Lepricoin – @lepriconio
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on January 9th 2021 at 02:00 PM UTC Time: Satoshi Club x CUDOS

⚠️Click to see the hour
⚠️Total Reward pool: $1300

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

We will have the following structure:

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

Part 2: 150$/15 users – Open chat for 100 seconds. You can post Max 3 questions. CUDOS Team will select 15 questions and answer them.

Part 3: 1000$ – A quiz about CUDOS

For more details:
CUDOS – @cudostelegram
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are happy to welcome you in the new 2021 year and we will start it with really hot project. And today we would like to tell you about the AMA session with our friends from Hot Potato. The AMA took place on January 3 and our guest was Atlas@HotPotato.

The total reward pool was 500$ and has been splitted in 3 parts.

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

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

GoldRocket: We are launching this first AMA this year with the Hot Potato project!
What will our guests bring us so hot? Let’s ask them! Greetings @atlashotpotato! Welcome to Satoshi Club!

D. | Satoshi Club: @atlashotpotato welcome! 😊

Atlas@HotPotato I love HP: Happy New Year! Thanks! Happy New Year to you all! wish you all the best!

D. | Satoshi Club: how are you? enjoying your holiday? 😄

Atlas@HotPotato I love HP: Yes, it’s a great honor to be with Satoshi, a wonderful and strong community

GoldRocket: Tell us please a bit about yourself before we hear about your project @atlashotpotato

Atlas@HotPotato I love HP: we are still very young, young but ambitious project:grin: First of all, I’d like to introduce myself to you. I am a blockchain practitioner with more than 6 years of operation experience in the industry. This time I’m here as the representative of the hot Potato community to share this wonderful project with you. The project was initiated by very experienced and professional DEFI and DAO believers, most of whom came from the original Ethereum technology community. The core developers have worked with Vitalik and have co-written several books on ethereum intelligent Contract development tutorials. We built this project anonymously based on our belief in pure decentralization and DAO. Hotpotato is born for the community and the DAO. It’s completely decentralized, there’s no pre-mining, there’s no pre-reservation. The price of hot potatoes and the number of tokens is entirely up to the community

D. | Satoshi Club: impressive! could you share with us names of those books?

Atlas@HotPotato I love HP: That’s why we define it as, HP (Hot Potato) is a malleable base-money. I am sorry that The name of the book is not available to share for now. This involves the developer’s own willingness to remain anonymous. But we can assure you, even though it’s an anonymous project, it’s open and safe. HP code currently completed security audited and will soon be open source

D. | Satoshi Club: and why did you decide to built your project around rebase model? were you inspired some other projects and their success?

Atlas@HotPotato I love HP: Well, we think the rebase mechanism has a lot of vitality. It’s not like traditional money is one dimensional, it’s two dimensional. This kind of high-dimensional currency has a lot of imagination. Please note that we are not simply repeating or simply innovating existing Rebase projects. Even algorithmic stablecoin are only one aspect of the Hot Potato application scenario,for example, satoshi’s original intention was to create a decentralized cash distribution mechanism. However, BTC price, speed and other reasons can no longer be used as currency in reality. Algorithm stable coin will be the optimal solution to realize Nakamoto’s original intention
Using the algorithm to anchor supply and demand, If ppl needs token, the algorithm will issue more
Shrink the market, the algorithm will lead to destruction of token

GoldRocket: I realized that you have an anonymous team, for the time being, how many people are involved in the project?

Atlas@HotPotato I love HP: In addition to the 7 people in the technical team and product team, the remaining 5 people are responsible for operations and PR. They are all full-time stuff. and we have many part-time partners who work remotely. Because this is a project without premining and the team doesn’t reserve any tokens before presale, so complete anonymity helps it achieve true decentralization

Q1 from Telegram User @borysfireball

There is a statement on your site: “To avoid potential loss from currency devaluation, you’d better transfer it to others. Currencies then are like a hot potato. You must flip it quickly between your hands to avoid burns.” and “For each transaction, you need to pay 3% of the amount transferred as taxes”. Does this mean that your project only for whales? Because with this high gas prices plus 3% taxes it cost too much to transfer small amounts of Hot Potatoes.

Atlas@HotPotato I love HP: gooood question! Of course not! here I want to re-emphasize our slogan again . The slogan of hotpotato is-a malleable base -money, which is a scalable base currency. It is to expand to many sectors around HP, such as stablecoin, NFT, DAO, etc. For example, our next sector is stablecoin. Everyone can mint stablecoins by holding HP, so that we can return the minting rights to every user who holds HP, you can imagine what a great thing that everyone has the right to coin. as for the taxes

• 

I’d like to explain to you with this illustrator. As we said on onepage, there are two effects for the 3% tax. 0.5% is given to the technical team for the development and iteration of new versions, and the other 2.5% will be allocated to the staking pool, recycle pool, HOT ONE and Lucky one.

here are the definition of each pool.The intention of this is to attract users to participate in Hotpotato in the early stage of the project with the use of the reward mechanism, so as to realize the positive cycle of the system. The tax will be removed after the second phase of the stabilization currency goes online. so our program is not for any whale.

https://medium.com/@hotpotatoblockchain/hot-potato-onpager-fcb39512ecc5

for more details, pls read our onepager

D. | Satoshi Club: are we already can use all these pools? or when we will can?:eyes:

Atlas@HotPotato I love HP: Of course! Once HP get online, these mechanisms will be up and running. We’ve been working on this project for almost a year, not just at the conceptual stage. It’s about doing development and cross-checking to make sure it’s safe and stable after it goes online. Right after the private placement. Just a few days. Because our tokens are rebase along with the number of addresses of the holders of the token, these mechanisms are written into the smart contract

D. | Satoshi Club: got it! on which aspects of your project are you focusing now? what is the main goal for the month? for example

Atlas@HotPotato I love HP: you mean roadmap? or products?

GoldRocket: I’m both interested… Please share! :fries:

Atlas@HotPotato I love HP: As I mentioned at the beginning. We are a very ambitious project, although young. We don’t want to be the second AMPL or BAS, we need to do more than just algorithmic stabilizers. HP can obviously serve more application scenarios. As for the more recent product, we’ll call it the forth generation algorithmic stabile coin

Q2 from Telegram user @Brainchest

I saw on the site the section (currently not working) DAO. Are you planning to issue governance tokens?

Atlas@HotPotato I love HP: Here we should talk about the definition of HP, which is the base currency that can be expanded. There are many definitions in the attributes of HP, including the governance attributes just mentioned. Therefore, we will no longer issue a new governance currency. HP will be a very important currency in our DeFi ecosystem. It is both basic and complex, and acting as the cornerstone of our community.

GoldRocket: We are looking forward to your updates and we hope you come to share with Satoshi clubbers!

D. | Satoshi Club: so HP will be work as a governance token as well?

Atlas@HotPotato I love HP: Yes! HP will have a wealth of application scenarios and functions, and the HP community will be completely decentralized, with holder voting on ecological development and products strategy. At this point, I think there have been a lot of good DEFI projects that have set precedents for us, so we are confident that we can do better based on their experience. Therefore, unlike pure governance attributes such as COMP,
HP will have richer attributes and application scenarios, and different from the conflict between AMPL’s stability requirements and coin attributes, HP will have a more harmonious logic.:muscle:

Q3 from Telegram user @Highpee

The total holders from presale is supposed to be 160 users. However, from the announcement on telegram and the one published on medium, it was said that the pre-sale event has been postponed in order for the team to have sufficient time to adjust smart contract design to accommodate stablecoin features and to also determine suitable liquidity lock drop duration. However, when I opened your website, the first sentence I saw is: Total Token Holders: 209. Who are these 209 holders and where did they get the token from?

Atlas@HotPotato I love HP: First of all, I would like to thank this community user for studying our pre-sale rules so carefully. It’s not easy, but it’s important. I believe that reading carefully will create a great investment opportunity for you. Secondly, unlike other projects they can simply issue ERC20 tokens to operate. Our first product is our token, mallable money_HP. We need to make sure it’s PERFECT before it goes online. This is one of the reasons why we have delayed the pre-sale, but there are also a lot of market factors. We need more good community partners like Satoshi.
Welcome to recommend yourself or recommend excellent KOL cooperation to us. Finally, with regard to your question about 209, that data is only a virtual test data. The number 209 you saw is a demonstration of the official website, which is intended as an example to the community. When HP goes online, It will clear out and change into a real time data. This number represents the number of currency holders at this moment. Every time the number of token holders increases or decreases, the number on the official website will change accordingly.

https://hotpotato.one/#/

our website ,will announce real time data after HP get online

GoldRocket: this is not a constant value. Great illustration! Thank you!

Q4 from Telegram user @cengizhantekin

According to HotPotato’s Rebase Mechanism; if holders do not engage in any activity such as transfer, trading, etc. their balances remain at a fixed percentage of the total amount. This means total amount changes based on some reasons; when and how does the total amount change? What is that fixed percentage, how was it determined? Is there a time limit for the non-active period mentioned above?

Atlas@HotPotato I love HP:

• 

let me show you a infographics first,so there are 3 questions in it. For the first one, Yes, if the holder is not involved in any transaction such as a transfer. Their balance will remain a fixed proportion. But our HP circulation is based on the community’s participation in Presale.
For example, if only 120 addresses participate in Presale, the total number of coins will be 120*100= 12,000. which means that the total circulation is based on certain rules.

You can imagine that you’re actually getting the original shares.
The percentage you hold in all subsequent offerings will not change ( you do not fully engage in any transfer, the percentage you hold will always be the percentage you held in the presale )

About the question you asked that how the change occurred. When the currencies in your address are transferred to others, the proportion of your currencies in the entire network will change. This fixed percentage is determined by the rebase mechanism.

Actually, this is a mathematical problem, so let me give you an example of what this is.

There are 10 addresses on the entire network, with a total of 1,000 tokens, and Jack have 50, accounting for 5% of the entire network. When Jack transfer an account to Jane’s new address, the system will issue an additional 100 HP tokens, cuz we got 11 addresses now, and the total supplyment will be 1100 HP

In this way, the NEW GENERATED 100 HP tokens will be shared among all the holders
and Jack will get 100*5%=5 HP, then JACK’S balance of HP tokens at the moment is 55, and his proportion of the whole network is still 55/1100=5%.

So, as long as you hold the currency, your proportion in the entire network will remain unchanged.
Unless you make a transfer or transaction, your ratio will change. So that’s what I mean when talking about fixed proportion.

Hope this example can help you understand how does HP rebase mechanism works

D. | Satoshi Club: i hope it would help to understand it more clearly :ok_hand: and by the way, do you have any bonuses or discounts on presale? like if im spend 5 ETH, can you give me some discount?

Atlas@HotPotato I love HP: pls check the rule. we will have 160 room for participants, and each participant can contribute 1 to 12 ETH as they like the final price for HP will be the sum of presale/ the number if address. so we do not know how much is HP now, but we can assure the maximum supplyment is 16000, 160 holders * 100 tokens. and the price on DEX will be higher , about 20% than presale

Q5 Telegram User @ovkneze_big

I am interested to understand the situation when a new address is attached, then 100HP is distributed to all addresses for each address or 100 for all?

Atlas@HotPotato I love HP: HUmm, I think the answer of question 4 already solve this question.
We allocate the newly generated tokens in proportion to the presale. With a certain percentage of users holding money, their balance will get bigger every time they rebase. This is a illustrator how the rebase mechanism works

Q6 Telegram User @yellowchamp

In entering pre-sale with other platforms is easy as 1,2,3 and you can by their token but in Hot Potato , joining pre-sale seems complicated in which I read in your Medium article that one of the option is you have to invite 20 people to join your telegram Community for the chance to get on the whitelist in Presale but not a 100% sure since the pre-sale whitelist seat is just limited. So ,my question is why do you have to make any complications for this presale? What are the advantages and benefits if someone will be selected for whitelist in your presale? By this option with your presale, don’t you think people will hardly join it except to those who really eager to join your presale? We are already January 3 and the result for the whitelist seat for presale is January 4, so can I ask if is there still a chance for anybody to be whitelisted who will apply for presale whitelist by now? Currently, how many people already joined? Thank you!

Atlas@HotPotato I love HP: First of all, thank you for your continued interest in us. Your questions have been very helpful to anyone involved in the project or presale. This is not a hunger marketing ploy. This is very easy to understand if you understand the workings mechanism of HP. The whitelist, or initial number of addresses, is closely related to the price of HP. We want to give people who really care about this project and are ready to contribute to hot potatoes the opportunity to participate and cherish it. Traditional investors are more willing to participate in presale or ICO, because there is a profit.
However, people who often participate in private placement will not eventually develop together with the project for a long time, and often leave after the public offering. HP’s mechanism will be disruptive and build community consensus. The whitelist is equal to the initial coinage rights for this project. And seigniorage is not a measure of price.
Our Presale is unique and groundbreaking in crypto history,
This will be a great endeavor, and if successful, more projects will follow. What you’re referring to is just one of our original bounty incentives, which is to encourage people who have really contributed to the spread of hot potato, so that We will build a solid community consensus in a short time.

At last, you are welcome to join us,thanks for this good question

Finally, I want to emphasize that our pre-sale is not on January 4th.
There is no official date yet. Please follow our website, Twitter and our community
and Watch out for scams!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @KeymerS

I understand that the presale will be totally limited to 160 seats, really why? not looking for hot potato to achieve large adoption? That is why it should not have multiple rounds of presales so that many more users know about this project?

Atlas@HotPotato I love HP: You were the first one to ask the question. Thank you for your question. HP will not do multiple rounds of presale because all 160 addresses participating in Presale are written into smart contracts that automatically issue tokens, all execution will be implemented by smart contracts, If multiple rounds of pre-sales are to be made, the contract will need to be modified, which can be risky

Q2 from Telegram user @Manzanog

Will the 10% assigned to the “Lucky” for making the largest purchase in 24 hours be valid only for the pre-sale? Or will it be valid daily and for any purchase made in any exchange in which it is listed? or just uniswap?

Atlas@HotPotato I love HP: There’s only one lucky prize per day, it only works if you buy it through a decentralized exchange like Uniswap, and remember to buy more than 0.5eth per day (damn, prices are skyrocketing today).

Q3 from Telegram user @Jonahapagu

HP’s malleability is reflected in two aspects:
1)Malleability of token’s amount
2)Malleability of token’s ecosystem..
I understand that the first aspect has to do with the frequent change of the number of Tokens, so apart from your Token can you explain how and in what other ways Malleability is being reflected in Hot Potato

Atlas@HotPotato I love HP: I like your summary. Yes, malleable and flexible supply mechanisms are different. Malleability is reflected not only in the fact that the total number of tokens is not fixed, but also in the strong vitality and potential of HP tokens. As I said earlier, traditional DEFi tokens are one-dimensional tokens, while HP is constructing a two-dimensional world. You can imagine a plane and a space, and you can see the difference.
You know how important our HP is as the governance token and ecological pillar of this space.

you can imaging two dimensional stable coin, and two dimensional NFT, what will they look like if all defi project we have now entered the two dimension space HP constructed

Q4 from Telegram user @highpee

I am fascinated by your project and wishing the team success
Most rebase projects adjust token supply based on price. However, your project rebases token supply based on the number of address that joined or exited. Why did you choose this type of rebase mechanism and will the reduction in the amount of token a user hold when an address exited not result in the reduction of the worth of that users asset?

Atlas@HotPotato I love HP: Thanks for your kind words. Our economic model is very unique and innovative. Unlike many algorithmic stablecoins that rebase at 1 USD, Hotpotato rebases through changes in the number of currency holding addresses.
The principle is to increase the supply when the number of users increases, and decrease the supply when the number of users decreases.
In short, if supply exceeds demand, HP starts deflation, and when supply falls short of demand, inflation starts. .

Q5 from Telegram user @kripto_mangunkusumo

What is the difference between “hot one” and “lucky one”. And is it possible to win both at once? “hot one” and “lucky one” in a period?

Atlas@HotPotato I love HP: It is possible, of course, but if that were to happen, the winner would be one in a million. Let’s talk about the lucky bonus again, because the purpose of this mechanism is to reward the user who buys HP with the highest unit price on that day. So, although the HP you buy seems to cost a lot, it is quite possible that the lucky bonus will cover your purchase cost and even make a lot of money

Hot Potato's 7 days Challenge Quiz-6 is here👇

1⃣ For each additional address, how many tokens does the system issue and prorate to all holders. And vice versa. 
2⃣ How many days does HP's pre-sale last?

To participate, join our Global Telegram group👇https://t.co/1Dgo34wSQw pic.twitter.com/fomAKnEPLK

— HotPotato (@HotPotato_DeFi) October 31, 2020

check out this tweets, it can explain the hot one, actually ,it is reward for fomo winner. to increase the incentive, the mechanism add a little fomo elements to encourage ppl join

Q6 from Telegram user @Jonahapagu

In one of your articles it is stated that HP will develop stable coin, NFT and DAO modules in the follow-up development plan…. to what will the proposed stable coin be pegged and what will be the specific use cases of this stable coin in your ecosystem, can you also explain more about what Plans you have as regards NFT’s in Hot Potato as included in your development plan..

Atlas@HotPotato I love HP: As for the plan to stable coin module, we have two plans at present. One is pure algorithmic stabilizers, and you can see that there are precedents for AMPL, Base, BAS, etc. Another thing that can be revealed here is that some people complain that the algorithm stability currency has no actual value support, so it is very virtual. Therefore, we have a solution for this, and it can also improve the efficiency of capital use.
As for more details about NFT and other products, please keep your attention to HP. We will inform you gradually!

Q7 from Telegram user @JuanSB07

In order to invest in a project, I must first know what is the long-term vision, functionality and security of it, I understand that Hot potato plans to implement a stable currency, the DAO system and NFT tokens, but really for what purpose? just to create a great ecosystem passes the money (both coins and NFT) to other users as a “hot potato” to avoid devaluation? or is there really much more than that?

Atlas@HotPotato I love HP: HP is launching the project fairly through the Rebase mechanism to build an open community platform based on DeFi to explore more innovative and meaningful DeFi products. As for why we call it a hot potato, some users say it is a satire on the current world’s legal currency financial system, while others say it is a kind reminder that there are 10,000 Hamlets in a reader’s heart and 10,000 hot potatoes in the world
Regarding our long-term goal, I want to talk about our slogan. The slogan of hotpotato is-a malleable base -money, which is a scalable base currency. It is to expand to many sectors around HP, such as stablecoin, NFT, DAO, etc. For example, our next sector is stablecoin. Everyone can mint stablecoins by holding HP, so that we can give the minting rights to every user who holds HP, you can imagine what a great thing that everyone has the right to coinage.

Q8 from Telegram user @stargateeatlantis

As the tax of %3 is very high, can we say that you want real holders for your project?

Atlas@HotPotato I love HP: For HP, FOMO is not our goal, it’s a tool. For a start-up project, that 3% isn’t much, and HP’s early wealth effect would make it trivial. And after the project has been going on for a while, both we and the community may want to lower that number, ok, so let’s propose on our governance forum. It’s entirely up to the community to lower the tax to 1% or zero.

Q9 from Telegram user @testercoin

There are a lot of people thinks rebase products are not worth investing and makes other users stay away. Can you explain why your project is different?

Atlas@HotPotato I love HP: First of all, if Rebase is really useless, AMPL shouldn’t have such a market value, esd’s total value staked wouldn’t exceed $100 million, and BAS has more than 10 imitators. Capital is smart, blockchain is certainly inclusive, and human beings should be a little more imaginative. As for HP, there are too many differences. The distribution mechanism of HP tokens, the pre-sale mode of HP, the incentive mechanism of HP, as well as the stability currency and NFT to be launched in the later stage, HP is born for innovation, enjoy it!

Q10 from Telegram user @Pratze

About Hotpotato Presale, why did you give target that only 160 address available to buy on presale? Don’t you feel its more benefit to Hotpotato if more people buy in Presale?

Atlas@HotPotato I love HP: No matter how many friends you have on your social media platform, the number of people you actually have a close relationship with is usually 150. In terms of the time it would take 200 years for space travel to reach a habitable planet, the minimum number of people needed is 160. HP is created by these brave warriors who dare to try, and we set that number, hoping that the spark of HP will start a fire.

Part 3 – Quiz Results

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

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

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

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

Our partners:

Hot PotatoCommunity: https://t.me/Hotpotatoglobal

We are pleased to announce our next AMA on January 5th 2021 at 04:00 PM UTC Time: Satoshi Club x Gauntlet Finance

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

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

We will have the following structure:

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

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

Part 3: 300$ – A quiz about Gauntlet Finance

For more details:
Gauntlet Finance – @gauntletdefi
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish