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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. ZeroSwap Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about ZeroSwap
For more details:
ZeroSwap – @zeroswap
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Valhalla Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Valhalla
For more details:
Valhalla – @chillhalla
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Vulcan Forged and our guest was Jamie – representative of Vulcan Forged. The AMA took place on 20 February.
The total reward pool was 1000$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club: Hello, again Satoshi Club! We are happy to announce our AMA session with Vulcan Forged! Welcome to Satoshi Club😀
Jamie | Vulcan Forged: Thanks! 🔥
Andrés M. | Satoshi Club: Today our guest is @eimajine, welcome sir
Andrés M. | Satoshi Club: How is going your weekend? 😃
Jamie | Vulcan Forged: Superb. At the office. Greece has snow for the first time in decades. Very surreal.
Jamie | Vulcan Forged: But good!
Mary | Satoshi Club: Welcome to Satoshi Club 🚀
Andrés M. | Satoshi Club: Wow, an exciting moment haha.
Mary | Satoshi Club: That’s great!
Mary | Satoshi Club: Could you please introduce yourself and tell us more about Vulcan Forged 😉
Jamie | Vulcan Forged:] Sure thing.
British here, but live in Greece now. Guess I’m one of the ‘lucky’ ones that had a blockchain idea a couple of years ago and it took hold.
Started with a small digital art NFT site called VeriArti, and before long, things have escalated into a full-fledged NFT ecosystem. We’ve got 10+ games and dapps, over $5m in trading volume, a team of 21 now. And our main game which is currently in beta for 300 users is VulcanVerse, which is taking the metaverse decentralized sandbox into new realms
Mary | Satoshi Club, [20.02.21 16:04] [In reply to Jamie | Vulcan Forged] Super growth! Why art and NFT?
Jamie | Vulcan Forged: Always been into NFTs since the silly kitties arrived. So though I’d try my luck at a digital art NFT site. And as we do something called fee delegation, it means there are zero gas fees to make NFTs with us. Because of that plenty more games started using our engine
And then we decided to get into virtual worlds.
Which is where we’re at now really.
Andrés M. | Satoshi Club: Why Vulcano? It is related to the Roman god I imagine.
Andrés M. | Satoshi Club: But why did you choose this name specifically?
Jamie | Vulcan Forged: Here are some shots of our games and VulcanVerse by the way.
Jamie | Vulcan Forged: Vulcan yes.
As it’s the God of fire and forging.
And we forge NFTs.
So kinda made sense.
And sounds better than Hepastses or however it’s pronounced
The Greek name for it.
And also, I think Greco-Roman fantasy is really coming back into style now.
Andrés M. | Satoshi Club: So do you have some games that explore this type of mythology? It is an exciting style of videogames.
Mary | Satoshi Club: I like the sense behind your Vulcan Forged 😉
Jamie | Vulcan Forged: yes exactly. I mean we have some completely unrelated games like ‘Block Babies’ which is a cute collectible game and some others, but a lot of our games revolve around this mythology. We’ve got a hearthstone game called Berserk which is one of our most popular
It uses the characters from VulcanVerse in it
And of course, everything is an NFT.
Your land, the creatures, your cards, spells.
It’s all very connected.
Andrés M. | Satoshi Club: Excellent graphics, is it necessary to have a good gaming PC to play?
Jamie | Vulcan Forged: Not really. Designed for potato PCs really.
Our economy which we’re launching next week revolves very much around play-to-earn.
So you can earn what we call lava by smashing someone in a game of chess or Berserk and duse that to earn rewards or level up creatures in other games.
Mary | Satoshi Club: 👍👍👍
Andrés M. | Satoshi Club: Awesome, I really need to try it, I love mythology and chess😁
Jamie | Vulcan Forged: Then you’ll love our battle chess. All the Vulcanites (our creatures you fight with) are animated on teh chessboard and in the virtual world.
Mary | Satoshi Club: Thank you for your intro! Jamie!
Mary | Satoshi Club: Ready for the live part?😉
Andrés M. | Satoshi Club: I’m sure I will 💪
Jamie | Vulcan Forged: Pamp it.
Q1 from Telegram User @Wormz28 Vulcan Forged has grown from a small digital art NFT platform to a multi-dApp platform, game studio, launchpad, and a top 5 volume NFT marketplace and just recently you confirmed a cross-chain partnership with Matic Network to launch your ecosystem-wide token $PYR. So aside from MATIC’s rising dApp popularity, what other reasons why you chose to have a partnership with them? Also, what are the Incentives in Bridging to Matic?
Jamie | Vulcan Forged: Well Matic, now Polygon, is probably the top Layer 2 solution, and offers next to nothing transaction fees, fee delegation and quicker settlement times…and to be honest, we had three chains asking us to move there, but the guys at Matic offered the most support.
And tapping into the eth community for our games and NFTs is essential.
Was a little boxed in on VeChain, not much entertainment or dapp usage there.
And the fact we’re the number 1 or 2 biggest usage of their chain kinda tells us we need a bigger audience.
Andrés M. | Satoshi Club: We had AMA session with them these days, a great project.
Jamie | Vulcan Forged: Yeah, they’re making big moves.
Andrés M. | Satoshi Club: So, are the high fees of ETH network making work difficult in your NFT platform?
Mary | Satoshi Club: When we will see the results of your partnership?😉 Or we already can?
Jamie | Vulcan Forged: no, because we’re not on ETH. Our NFTs are on VeChain. And our token PYR will be on Polygon/Matic. Both of which offer next to nothing fees which we sponsor anyway.
Any game or dapp that builds with us never pays fees and we pay the fees needed for NFT transactions.
Andrés M. | Satoshi Club: Got it, great decision.
Jamie | Vulcan Forged: Why I think Layer 2 solutions are the future for now.
Until eth 2.0 perhaps.
Andrés M. | Satoshi Club: Thanks for this clarification, are you ready for the next question? 😃
Jamie | Vulcan Forged: Always!
Q2 from Telegram User @cengizhantekin We almost all are familiar with NFTs but we do not fully know the production process and post-period. Since we can mint NFT on Vulcan platform, can you tell the overall story of an NFT, please? How do we mint, what is needed (images, videos, their formats), how much do we pay, how long does it take, how do we move it to a market, create an auction, etc.?
Jamie | Vulcan Forged: Sure, we have a customized form for every dapp or game that wants to join us.
They don’t need to worry about fees and such.
It gets minted directly to their wallet, they get a dapp ID in our marketplace and they sell.
You just have to apply to be a game or dapp with us and we take care of the rest.
Andrés M. | Satoshi Club: Talking about your NFT market, it is a hot topic these days, what makes Vulcan Forged different from its direct competitors?
Mary | Satoshi Club: Btw, I like your first NFT so much😂
Mary | Satoshi Club: For those that care for these sorts of things the first-ever officially minted VRA token on mainnet is a tattooed Marilyn Monroe.
Jamie | Vulcan Forged: Haha, it’s Vulcan, not Vulcano. But we have no fees for listing, no gas fees to create NFTs, it’s one of the most if not the most advanced NFT marketplaces there is. You can do batch NFT sales, NFT swaps, multiple auctions, very user friendly.
Andrés M. | Satoshi Club: Wow haha, that’s how MM would look if she was born in this century, I think 😅
Jamie | Vulcan Forged: My wife made that actually.
We used it as a test.
And yet here it is.
BTC breaking 60k right now…
Mary | Satoshi Club: Your wife is really talented 😍
Andrés M. | Satoshi Club: Haha sorry, that’s how is spelled in Spanish 😁
Jamie | Vulcan Forged: Ah, forgiven then. Vulcan would have been angry.
Andrés M. | Satoshi Club: Haha I’m sure he would.
Andrés M. | Satoshi Club: We are living a new era in crypto, it is looking for more adoption, what do you think about it?🥳
Jamie | Vulcan Forged: I think the times of whitepapers and vaporware are finished. I may be a bias of course, but I think the entertainment side of blockchain will flourish this year.
And finally the words crypto and blockchain might finally separate
Which is kinda good
Andrés M. | Satoshi Club: Do you have other amazing designs to share with our community?
Jamie | Vulcan Forged: Not from her no, she’s a tattoo artist, and not sure it’d be relevant here, but take a look at some our models and creatures in VulcanVerse:
Andrés M. | Satoshi Club: Indeed.
Jamie | Vulcan Forged:
Jamie | Vulcan Forged:
Jamie | Vulcan Forged: We’ve got one of the best sculptors globally, and that’s not an exaggeration. Every card you see there, that’s an NFT and it has a 3D model attached to it.
Which can be used in the world and across all our games.
Andrés M. | Satoshi Club: Sure, which are the most famous characters in the VulcanVerse? apart from Vulcan.
Andrés M. | Satoshi Club: Wow, a fantastic graphic design.
Jamie | Vulcan Forged: There are 20 vulcanites of different levels, put the cards up there. But we also have the 12 Titans and 12 Olympians:
Jamie | Vulcan Forged: Cool thing about the gods is that they start as babies.
But you have to nurture them to God mode.
Which gives you more rewards and game buffs.
Jamie | Vulcan Forged: This is the above god Cronus as a baby.
And then you lock up tokens in order to bring him to God mode.
Which basically gives you all sorts of good stuff.
Andrés M. | Satoshi Club: Have you thought about releasing a physical version of these cards for collectors?
Andrés M. | Satoshi Club: Haha so cute and powerful.
Jamie | Vulcan Forged: Yes, we’ve got a board game being made and a card game also.
Actually here’s a good plug about the gamebooks coming out. We’ve got the fighting fantasy authors writing 5 gamebooks on VulcanVerse being released from March.
Andrés M. | Satoshi Club: Great, we will be waiting for news about it 💪
Jamie | Vulcan Forged: Want to make VulcanVerse a really established ecosystem and household name.
Also got the Gorillaz doing its soundtrack.
Moving away from the voxel web browser sandboxes.
Into AAA graphics with fantasy MMO functionality.
Andrés M. | Satoshi Club: Do you have any trailers of the VulcanVerse?
Maybe an introductory video.
Jamie | Vulcan Forged: There are dozens of videos all over Twitter from users and their experiences there. You can see them build and talk through their time. Let me fetch a few.
Actually we’re running a massive giveaway there today for 10 Gods.
Valued at $10k+ altogether.
Anyone is welcome
Will be a raffle.
Andrés M. | Satoshi Club: Let’s join the community.
Well, is time for the next question 🎉
Q3 from Telegram User @Korryl I read from Vulcan Forge twitter that your NFT trading and NFT swap already available, for NFT trading I already understand and there are similar site out there, but how about NFT swap, can you explain? And What are other feature that Vulcan Forged market place have?
Jamie | Vulcan Forged: Yes, you can swap any NFT for another one, from any game/dapp. In fact, you can do batch trades. For example, put up 5 NFTs from different games and write what you want in return.
You can take up to 5 offers.
Choose your best.
And bosh, trade done.
Mary | Satoshi Club: It’s something like a bundle, am I right?
Jamie | Vulcan Forged: Yes right, a bundle.
Bundle of NFTs for another bundle of NFTs.
Andrés M. | Satoshi Club: Btw, which has been the biggest sell made in your marketplace? I mean the most expensive.
Jamie | Vulcan Forged: $14k for one plot of land.
Land goes for around $400 to $10k a plot now and we’re still only in beta.
Marketplace only launched a few months ago but we place top 5 volume most days.
Why we need to really get the eth dapp community involved.
Andrés M. | Satoshi Club: Wow, a great moment to be a creator, do you have some guides for newbies that want to involve in this NFT ecosystem?
Mary | Satoshi Club: This will be great🚀🚀🚀
Jamie | Vulcan Forged: If they’re a gamer/buyer/seller then just join our discord or join a game you want to play.
Andrés M. | Satoshi Club: Congratulations 💪
Jamie | Vulcan Forged: If you have an idea or want to add your game or dapp to us then contact me.
And even if its just an idea or alpha stage.
We’ll help you get running.
Andrés M. | Satoshi Club: Great info for our community.
Something else to add or can we proceed to the next question?
Jamie | Vulcan Forged: Good to go to the next.
Q4 from Telegram user @yellowchamp As I have read in Vulcan Twitter account that today at 4 pm GMT, applications for private sales of $PYR will be open and one of the requirements is there is a NEED for an OG badge. So can you tell us what is an OG Badge? How to obtain OG Badge? What are the ways to get OG Badge? What is this OG Badge for? Aside from private sale, are you also planning to conduct a public sale or presale for those who cannot catch up with Vulcan’s private sale? Is listing possible after a private sale? If yes, which exchange would be listed? Thank you!
Jamie | Vulcan Forged: OG badges were given to the first-ever land buyers. There are only 813 of them. So private sales (which are maxed out now) are open to them only. However, we have a public sale offering 50% bonus tokens and then 25% bonus tokens in March.
The whitepaper and wave information is at vulcanforged.com under the ‘PYR’ menu
It’s a very small supply and cap so will be first come first serve on those public days.
And yes, we have exchanges ready.
Mary | Satoshi Club: Do you have exact dates of this sale?
Jamie | Vulcan Forged: Yes, March 17th and 18th.
Andrés M. | Satoshi Club: How can our community join that Public Sale? can everyone join?
Jamie | Vulcan Forged: Yup, the public open to anyone. Address will have to be whitelisted first of course. Best to track us on Twitter, TG, or discord to keep up to date on when we accept applications.
Andrés M. | Satoshi Club: Could you tell us some of them or is it confidential information? 😁
Jamie | Vulcan Forged: We can’t name the exchange, only that we have 3 lined up.
We’re made some good partners along our way.
Andrés M. | Satoshi Club: Great, we have several investors interested in public sales like that.
Jamie | Vulcan Forged: Superb. I mean you can buy a badge on the marketplace and apply for the private sale of course, but applications for that are today.
Mary | Satoshi Club: Not several😂
Andrés M. | Satoshi Club: Congratulations, as I said, we will are expecting news about Vulcan Forged.
Jamie | Vulcan Forged: For sure, we’ll be here updating when we can.
Andrés M. | Satoshi Club: Haha.
Mary | Satoshi Club: Jamie, do you want to add something or we can go to the next question?😉
Jamie | Vulcan Forged: Nope, next is fine.
Q5 from Telegram User @asalas95 When I joined the Vulcan Telegram group, I was immediately gifted with a beautiful NFT card, thank you very much! Considering the design that I noticed in your NFT, I would like to know, who is the artistic team behind the design of each of these cards? Is it a job that is also performed by the designers of the game, or is there a team specially dedicated to the creation of your cards?
Jamie | Vulcan Forged: In our office in Greece, there are 8 of us. 3 of them are artists. That picture you saw is by Jimi-x. He’s one of the best z-brush sculptors there is. Made the finals of a WOW character creation competition. In fact, most of the team in this office are coders and artists. Our team in UK and Ukraine are the land and sandbox makers. So yes, we have an entire team dedicated to just art.
But yes, art is really top of our selling points.
Andrés M. | Satoshi Club: And you are doing an excellent job, the design of each NFT that you have shared with us is unique and amazing.
Jamie | Vulcan Forged: Great to hear, thank you!
Mary | Satoshi Club: I like your stickers 👍
They are amazing! You’re really doing a great job!
Andrés M. | Satoshi Club: This one remembers me of the movie “Pan’s Labyrinth” I really love it.
Mary | Satoshi Club: Haven’t seen this movie 🤦
Jamie | Vulcan Forged: Here she is in-game.
That’s a level 1 vulcanite.
Mary | Satoshi Club: Wow!
Jamie | Vulcan Forged: She has high foraging skills.
Jamie | Vulcan Forged: (finding NFTs in the world)
Andrés M. | Satoshi Club: What is her name?
Jamie | Vulcan Forged:
Pheaeri, Dryad of the Woodland Glades.
Only 300 editions.
Andrés M. | Satoshi Club: Very impressive🔥
Mary | Satoshi Club: It’s rare😉
Jamie | Vulcan Forged: yes, although level 5 vulcanites are 50 editions.
Some are 500.
etc
Andrés M. | Satoshi Club: Which is the rarest?
Mary | Satoshi Club: Jamie, I can go full in😂😂😂
Jamie | Vulcan Forged:
Asterion for sure.
We’ve not released level 6 or 7s yet though.
7 will of course include dragons 🙂
Oh, nvm, Asterion is a 6.
He goes for around $3k now.
But no one sells him.
Mary | Satoshi Club: Greedy people 😂
Andrés M. | Satoshi Club: Amazing, I need it 😁
Jamie | Vulcan Forged: You can find vulcanite in the world, you have found fragments of spells.
That summon them.
Otherwise, just have to buy one on the marketplace from someone.
Andrés M. | Satoshi Club: Is there a guide to know things like that?
Or each gamer should find it by himself?
Jamie | Vulcan Forged: Yes, can check out vulcanverse.com but really best to join the Vulcan-classroom in Discord.
Really welcoming community.
And the cool thing is you can use the vulcanizes in the virtual world and across our other games like Forge Arena, or battle chess, or berserk.
Same NFT.
Mary | Satoshi Club: Thanks, Jamie! For your answers and these great NFTs! Awesome!
Ready for the 6th and last question from this part?
Jamie | Vulcan Forged: Yup!
Andrés M. | Satoshi Club: Yes, It has been an amazing conversation, I really enjoy it as a gamer and collector
Q6 from Telegram user @JoanaZ Exploring your website I just realized that one of your partners is MATIC, so apart of be compatible with Ethereum, you also can work with the Matic chain?
Jamie | Vulcan Forged: yes exactly. We partnered with Arkane also, so we’ll have a custom Vulcan wallet using their tech which allows users to store their NFTs from one chain and transact with our token PYR on Matic, all from one wallet.
We’re also becoming a validator node on the Polygon/Matic network.
So we can sponsor all tx fees.
Mary | Satoshi Club: It’s very tempting😉
Jamie | Vulcan Forged: Come join the forge, Mary. Get yourself a Dryad and never leave.
The sandbox is incredibly addicting.
Literally, make incredible fantasy sculptures
Mary | Satoshi Club: Jamie, 😂 you feel my passion 😂
Jamie | Vulcan Forged: we’ve got a giveaway of a God in 50 mins. Welcome anyway!
Mary | Satoshi Club: So fast!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @alptrader Im looking for a game for earning money while playing it. What can you recommend to me?
Jamie | Vulcan Forged: Every single one of our games will be play to earn. Check out the whitepaper at vulcanforged.com/pyr.pdf
Q2 from Telegram user @kabirsingh01 How many tokens i should have to be able to mint just one NFT?
Jamie | Vulcan Forged: None. We pay for it.
Q3 from Telegram user @apocan99 I couldn’t find your whitepaper and medium page. Can you share the links please if exist?
Jamie | Vulcan Forged: vulcanforged.com go to the ‘PYR’ menu item.
Q4 from Telegram user @cryptolover1010 Are you a scam project?
Jamie | Vulcan Forged: Bit too late for that as we’ve already build and hold 10 games which are running with users. So no, we’re just like building stuff.
Q5 from Telegram user @Boylut Can you share your plan for the next 5 months for us?
Jamie | Vulcan Forged: Global virtual world domination.
Q6 from Telegram user @tuvalunia How can we get FIRE token and how is it used in the Vulcan system?
Jamie | Vulcan Forged: PYR is open for sale on 17th March.
Q7 from Telegram user @KeymerS Are the founders of Vulcan lovers of Greek culture? or really what is the story in which they were inspired to create this game?
Jamie | Vulcan Forged: Yes my wife is Greek (and our daughter).
Q8 from Telegram user @RosemaryBianco What are the approximate values of land owned by users within Vulcan Forget? What are the lands that have yhe most value? How can I make my land have a high market value?
Jamie | Vulcan Forged: Land goes for around $300 to $10k now. They cost $80 to start with. Get land near roads, landmarks or the city.
Q9 from Telegram user @cengizhantekin You provide some facilities for the ones who are TITAN status. So what is TITAN status, who can get that feature, how?
Jamie | Vulcan Forged: Get a baby Titan, pump him with PYR, once he’s level 7 you vet 70% extra staking rewards from your land and games, all in the whtepaper.
Q10 from Telegram user @Rosane1a8 Vulcan Forged claims to be easy to use and build, but, how easy it actually is? What basic knowledge in crypto and other fields would be needed to use Vulcan Forged properly and efficiently? Regarding to this, ate your functions oriented more to beginners, or may result attractive to experts as well? Does the simplicity compromise the diversity and exactitude of the possible solutions?
Jamie | Vulcan Forged: You literally need nothing but an idea and an image. Once you’ve got your NFTs, you have api routes to fetch them and do what you want. It couldn’t be simpler to be honest.
PART 1. Introduction of Sperax Foundation heder project and community questions.
Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project, which has a mission, is to make decentralized financial services available to all citizens of the world.
Mary | Satoshi Club – @madamlobster and Gold Rocket | Satoshi Club – @GoldRocket27
The Representative of the project:
Zhou Yu – @yuzhou87 – Joe, co-founder of Sperax
Introduction of Sperax project.
Mary | satoshi club:
Hello, again satoshi club! We are happy to announce our ama session with Sperax! Welcome to satoshi club😀
Gold rocket | satoshi club:
Good evening, dear community! We conclude our today’s ama marathon series with Sperax.😊
Today our guest is @yuzhou87!
Mary | satoshi club:
We are happy that we have a project which regularly comes back to our club with updates 🚀🔥
@yuzhou87 welcome to satoshi club!
Zhou yu:
Hello everyone glad to be here
Gold rocket | satoshi club:
Welcome to satoshi club @yuzhou87!❤️
Mary | satoshi club:
Hello! How are you today 😃
Gold rocket | satoshi club:
We are glad to have you here today 😃
Zhou yu:
Haha, I’m good. Thanks for asking
Mary | satoshi club:
Could you please introduce yourself to our community and tell us what new happened with Sperax since your last visit in September?😉
Zhou yu:
Sure would love to.
I’m joe, co-founder of Sperax. Sperax is a blockchain project that originates in academia and focuses on finance. We originated in 2019 with our new BFT consensus protocol BDLS which can promise higher performance and better security in real internet. We launched our testnet in Dec 2020 with over 700 people voluntarily set up our nodes and ran Sperax blockchain testnet
Now as we are getting matured on infra, we changed our focus on the product side
Our current main focus is two: USDS, our hybrid stablecoin that combines the strengths of both crypto-backing and algo-adjustment
And the second is what I will bring to here today: Sperax play!
Mary | satoshi club:
Wow!
Zhou yu:
Haha ya I can keep talking these forever so better interrupt me
Mary | satoshi club:
Sperax play is what we are excited very much about! But you can😂
Gold rocket | satoshi club:
We really want to explore this issue as much as possible😉👍
Zhou yu:
Hahaha sure maybe let’s talk about the play.
Gold rocket | satoshi club:
If you’re done with the intro we can go to the community questions😉
Zhou yu:
Ya let’s see what our community has for us.
Preselected questions about the Sperax DeFi project.
Gold rocket | satoshi club:
Q1 from telegram user @highpee
Sperax play app is described as a community hub for friends and it is available for download. I see the app as a decentralized wallet but am not sure how it is going to be a community hub. Is it going to have a social function where community members come together for interactions? What are the special features included in this app apart from being a wallet? I also saw that it’s possible to share my referral code and invite others to sign up for the app. For how long will the referral campaign last and what will I benefit from referring others? And as a non-custodial app, why am I only able to create an account with only email or phone number and how is my login detail secured?
Gold rocket | satoshi club:
By the way, I installed the app. And it looks great😁👍
Zhou yu:
Haha glad that you like the design. I like it too!
Mary | satoshi club:
Did you use my ref code?😉
Zhou yu:
Since there are lots of questions here, I will pick out and answer the ones that might benefit the most people
Gold rocket | satoshi club:
Yes, it looks quite convenient and simple 😉
Gold rocket | satoshi club:
Sure dear 🤗
Zhou yu:
Sperax play is way more than a wallet. From day 1 we view it as a hub or, in my own words, the main entrance to the Sperax world
We need the wallet since Sperax is a crypto world. And the wallet basically serves as your identity and money bag you carry around this world
Mary | satoshi club:
Yes, that’s right 😀
Gold rocket | satoshi club:
What currencies do you support?
Zhou yu:
In fact, we finish the wallet partway earlier. Most of our efforts are put on another module in play — we call it Snowball
Mary | satoshi club:
Yes, I see it in my Sperax play🔥
Zhou yu:
Snowball in a nutshell is a “cloud mining” where you mine reward points that would be converted into cryptos in our later events
Gold rocket | satoshi club:
Tell us more about this, please
Zhou yu:
Sure. And we really want to get rid of all those pow energy costs, so we intentionally make the design to be that you “click” to mine. Especially, when you click “activate” on the snowball page, it starts mining without causing you any electricity. The only thing you need to keep in mind is to “reactivate” it after every 24 hours
Moreover, there is a fun game in Snowball. This is also where the “invite code” comes in.
Mary | satoshi club:
Where can I find it?😀
Gold rocket | satoshi club:
I already want to try this 😁👍🚀
Mary | satoshi club:
Is it on this page?
Zhou yu:
Yes you got me
So whenever a friend of yours register a play with your invite code, he or she will be on your snowball team.
Mary | satoshi club:
👍👍👍
For v1, a snowball team is essentially your own hub within the Sperax hub
Zhou yu:
And it even is “profitable”
Mary | satoshi club:
How?
Zhou yu:
That is, the more team members you have, the higher your mining rate. I think for the detailed formula you can easily find it on the play. In the future, we would include more games surrounding this snowball team gadgets, So better prepare early 😀
Mary | satoshi club:
Gotcha! 👍 will try to get as many players as possible! In my mary team😂
Gold rocket | satoshi club:
I’m in it 😁
Zhou yu:
Hope I answered your major concerns 😀
Gold rocket | satoshi club:
Thank you so much! Ready to proceed to the next question?
Zhou yu:
Np! Always love talking about the play, Sure.
Gold rocket | satoshi club:
Q2 from telegram user @asalas95
Harmony protocol is a project focused on scaling trust and creating a radically fair economy, and a few days ago Sperax partnered with them. What is the purpose of this partnership? What problems do both projects hope to solve together? What is the story behind this collaboration, how did it come about?
Zhou yu:
Haha asalas95 must be a close follower of Sperax
Mary | satoshi club:
Of course, 😂 he read carefully
Zhou yu:
Ya, we just had this partnership. In fact, the two teams got in touch way earlier than this
Gold rocket | satoshi club:
Satoshi clubbers really like Sperax❤️😉
Mary | satoshi club:
Harmony is an awesome project! We also had them here👍
Zhou yu:
I still remember doing a video panel with nick back in the summer of 2020.
Gold rocket | satoshi club:
Good memories😊
Zhou yu:
Also the panel, behind the chain, with Stephen.
Mary | satoshi club:
Do you have this video?
Zhou yu:
Ya it’s on Sperax website
Check it out 😀 the fun conversation around layer1 and DeFi.
Mary | satoshi club:
You were early in DeFi 😉 We will definitely check it!
Zhou yu:
Haha ya anyway, let’s back to the question. So the current partnership between us would first start around a joint-effort to promote women in the blockchain space. We call it a lifting program. Frida and Alec are leading this great effort. If you are interested, definitely talk to them.
I can give some hints here. Basically, it would be a grant program that encourages any women-led project in the blockchain space. It can be DeFi, NFT, layer1, layer2 and so on
Mary | satoshi club:
Of course! It’s worth everyone’s attention! Super initiative! @goldrocket27 it’s a hint😂
Mary | satoshi club:
Thank you! Actually, our third question is a lengthening of this😉
Gold rocket | satoshi club:
And can I also participate in the competition for a grant?
Mary | satoshi club:
Yes, and in the answer to the third question we can get an answer😂
Zhou yu:
Sure always welcomed haha
Gold rocket | satoshi club:
Sure🚀
Gold rocket | satoshi club:
Q3 from telegram user @arisabela
Lifted is your first grant initiative, it’s just amazing that Sperax recognized the valuable contributions for “women in tech” and there’s more to come like the introduction of the idea that each team must have one woman in its leadership, how are you planning to make this idea popular among DeFiworld and attract more women with tech talents to participate?
Mary | satoshi club:
Only tech talents?😂 If we are simply beautiful?😂 And clever😂
Gold rocket | satoshi club:
You are very smart. And beautiful. One of the most professional crypto ladies I know of.❤️
Zhou yu:
Haha again, I can only offer some hints. I am sure Frida and Alec will like this question so definitely reach out to them.
Mary | satoshi club:
Ok, we will😂
Zhou yu:
We plan lifted to have 4 phases.
Phase 1 would be around DeFiprojects, phase 2 on blockchain economics, phase 3 on the university, and phase 4 on interoperability. Harmony partnership belongs to phase 1
We are actively talking with the University of Michigan, the University of Florida for the university phase.
Mary | satoshi club:
It’s really amazing initiative!
Zhou yu:
It surely is
Mary | satoshi club:
You are very resourceful lifted, Sperax play 🔥
Zhou yu:
Haha, let’s see what other questions the community has!
Mary | satoshi club:
I think your users are really happy that they are part of such a community! @goldrocket27 shoot🚀
Zhou yu:
Thanks, Mary.
Gold rocket | satoshi club:
Q4 from telegram user telegram user @brainchest
Now everything rotates around DeFi, NFT, Polkadot. Moreover, NFT has created a lot of different platforms, DeFia lot of yield-farming pools, what innovative things can you offer? Will you launch a service that is not yet on the market or will you offer improved versions of an existing one*
Zhou yu:
Interesting to see this question covering DeFi, NFT, and Polkadot. I mean, all three in one. Sperax is actually actively talking to parity, i.e. Polkadot. They are very interested in our Stablecoin USDS
More info would come out soon. For NFT, this is one of the focuses for the next version of Sperax play.
Mary | satoshi club:
Wow, we should wait for the announcement?😉
Serg | satoshi club:
@yuzhou87, just wanted to come and say hello 😀 really nice to see you here 🤝 good luck with the ama
Zhou yu:
Hi Serg, long time no see!
Mary | satoshi club:
Really? I am your user forever😂
Serg | satoshi club
I am glad everything is ok and you made great progress with Sperax 🤝
Zhou yu:
Haha, it is true. We are building a great NFT interface in play right now
Zhou yu:
Thanks, Serg!
Mary | satoshi club:
Super!
Zhou yu:
As for DeFi, I mean, it is always the focus of Sperax
Mary | satoshi club:
Yes, stablecoins and DeFi😉
Zhou yu:
Back to the question, I feel other than innovation on each product, for example, snowball in play, we differentiate from other projects that we are actually building an intertwined ecosystem or I prefer to say “Sperax world”. We want every product to connect to each other than release their greatest potentials, And release*
Mary | satoshi club:
It’s a pleasure for everyone to be a part of it😀 enjoy and earn with your friends
Haha ya it is written by one of our brilliant female researchers, susu.
Mary | satoshi club:
Yes, you are lucky with brilliants😃 Thanks Zhou yu for your answers! Ready to go to the next question?
Zhou yu:
For sure!
Gold rocket | satoshi club:
Q5 from telegram user @cengizhantekin
Sperax is using BDLS. Is that a brand new consensus or an enhanced version of a known previous one? How is the mechanism of this consensus? What are the advantages compared to the popular systems? And do you have any partners who already benefit from Sperax BDSL protocol?
Zhou yu:
You can also just call me joe if you like😉
Mary | satoshi club:
Of course!
Gold rocket | satoshi club:
Nice, joe! 😊
Mary | satoshi club:
This question will be for our newcomers, who missed previous amas😉
Zhou yu:
Bdls is how Sperax originates. It is a brand new BFT consensus based on Polkadot’s grandpa, cosmos’s Tendermint, Algorand, and libra’s hotstuff
It secures its network in the real internet environment (type ii partially async network) with high performance, i.e. 5-7 sec block finalization time
Mary | satoshi club:
Do you cooperate with the above projects?
Zhou yu:
We are definitely talking to them but since we have not launched our mainnet yet, solid collaboration would be in the future. Got it! Can’t imagine what will it be! Something huge😉
Zhou yu:
Haha ya, Maybe another question on the play?
Mary | satoshi club:
We have one more for this part😃
Zhou yu:
Sure
Gold rocket | satoshi club:
Q6 from telegram user @jesusfre1tes
Sperax is on a mission of mass blockchain adoption. But what are its marketing strategies and business strategies to achieve the desired impact on communities still trapped in centralization and those unbanked users? Which are the first communities you want to conquer with your project?
Zhou yu:
“conquer” is a strong word for community-building haha
Mary | satoshi club:
I think Sperax play is the best thing that can happen to centralized communities 😂
Zhou yu:
I feel one of the major missions of every crypto enthusiast is to get crypto into mass adoption. Honestly speaking, most people still have so many confusions and misunderstandings around this emerging space and technology.
Mary | satoshi club:
Yes, we all are making as much as possible!
Zhou yu:
Sperax definitely views completing this mission as its duty
Gold rocket | satoshi club:
Nevertheless, mass adoption is coming!😁
Zhou yu:
Undoubtedly
Zhou yu:
We sperax take two approaches on mass adoption
Gold rocket | satoshi club:
Thank you very much for this mission that you are carrying out.❤️🚀🚀
Zhou yu:
One is via our product. When people see a well-designed, easy-to-use product like Sperax play, they would start gaining confidence in this newly emerging crypto world
Mary | satoshi club:
You know, if you want to start to attract users, the app is best suited for this. If it’s easy to understand this will be the first comfortable step into the crypto😉
Zhou yu:
When they see how convenient to use stablecoin like our USDS compared to the legacy swift system, they would start gaining confidence in this newly emerging crypto world.
Another approach is that we have never stopped promoting and educating people on crypto and its fascinating technology
Mary | satoshi club:
Yes, we made transactions between three countries in seconds today😂
Zhou yu:
I hope i answer the question 😃
Gold rocket | satoshi club:
I dream of this moment🙏
Mary | satoshi club:
Yes, thank you for your answers! Detailed and full answers!
Zhou yu:
Haha glad you like it
Mary | satoshi club:
Are you excited to see what our users prepared for live part today, joe?
Zhou yu:
Definitely! Lets rock
Mary | satoshi club:
Let’s go 🚀
PART 2.Questions about the Sperax 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 Sperax Foundation 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 @alice_wonderland12
🐱What features differentiate sCOIN from any other stablecoin? is its value publicly audited? How can users trust its stability?
Zhou Yu:
I saw many questions about our stablecoin, previously named sCOIN and now USDs. Nico, who joined us from Terra, is the designer of USDs. USDs is a hybrid stablecoin that combines the advantages of crypto-backed stablecoins like Dai and Algo stablecoins like Basis.
Essentially, at the early stage, its crypto-backing makes sure that the value of USDs is stable while at a later stage, when we weighing more on algo-side by adjusting system parameter, USDs would be free to scale up. It finds a balance between stability and scalability.
Q – 2 from a telegram user @Jappel
You can earn XP with Sperax Play mining, but what could you do with the XP in the future? Thx.
Zhou Yu:
Good question. I feel their prob is much confusion on XP point usage. So we will launch a conversion program later on a quarterly basis to let Play users convert XP points to real-value tokens like SPA. To ensure decentralization, we are currently building a DAO which would decide on the details
Zhou Yu, [18.02.21 22:49]
So better collect as many XPs as you can😉
Q – 3 from a telegram user @alyaakin
Do you have any plans to add NFT staking support in the future into the application?
Zhou Yu:
Of course! In fact, there would be a NFT interface just in the next version!
Q – 4 from a telegram user @jirencrypto
Tell us a little bit about your App, from Sperax Play Is it the typical wallet we always see? Or does it have something innovative?
Zhou Yu:
As I said at the beginning of this AMA, Play is so much more than a mere wallet. It is the gateway to the whole Sperax system where SPA and XPs are the two major tokens. XPs are reward points, not strictly tokens. Just self-correct.
Q – 5 from a telegram user @tuvalunia
Sperax Play will be a hub also to mine cryptos. Which cryptos will be there? Sperax tokens or any other one?
Zhou Yu:
The play would support every mainstream, high-quality token. We are building in-app DeFi modules right now.
Q – 6 from a telegram user @BERTA2020
What uses and benefits does your SPA token offer for sperax users?
Zhou Yu:
SPA tokens would be the sole native token of the whole Sperax ecosystem. Also, we are building a liquidity mining program right now for SPA on Uniswap. Keep an eye on it
Q – 7 from a telegram user @alptrader
Did you build any governance mechanism in this platform for customers to decide on project?
Zhou Yu:
Yes. We are building one! In fact, all key parameters in Sperax ecosystem will be determined by DAO. For example, since the Snowball mining rate would decrease when the Play user number increases, there would be a number serving as a threshold. This number would be decided by DAO via SPA voting.
Q – 8 from a telegram user @Donotpm
Can I also play games on Sperax Play V.1, or it’s just a wallet where I can store, send and save my crypto?
Zhou Yu:
Q – 9 from a telegram user @ronaldo_super
Is it possible to mine SPA tokens within our smartphones?
Zhou Yu:
You can mine XPs via Play.
Q -10 from a telegram user @JLiaOp
Since the Sperax blockchain will be a DPoS network, will there be a minimum number of SPA tokens required to delegate a witness or one can delegate with just 1 SPA token?
Zhou Yu:
Our current DPoS design does not put any threshold on delegation. So you can delegate as little as you like if you think it is most profitable.
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the Sperax 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.
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from ShuttleOne and our guest was Zhuang – @zhuangg535. The AMA took place on 19 February.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Andrés M. | Satoshi Club: Hello community, today we are pleased to announce our AMA with Shuttle one, our honorable guest is @ zhuangg535, welcome 😃
Gold Rocket | Satoshi Club: Welcome to Satoshi Club @zhuangg535😊
Zhuang: Hello!! Thanks for having me again!!
Andrés M. | Satoshi Club: How is going your week?
Gold Rocket | Satoshi Club: We are very glad to see you again ❤️
Zhuang: Haha, this week has been hectic… We launched a new UIUX and we are preparing for IDO on the 22.2, special number!
Andrés M. | Satoshi Club: Haha a big week for Shuttle one, we are happy to have good news.
Zhuang: More and more good news coming, but again, a pleasure to be here again.
Andrés M. | Satoshi Club: Congratulations.
Gold Rocket | Satoshi Club: First, remind us a little about yourself and about Shuttle one, please😊
Zhuang: For starters, I am Zhuang, I am the founder and CEO at ShuttleOne. Personally, I am an ex-investment banker dealing in structured products and quantitative finance before I became an entrepreneur in the agriculture industry. Yes, I became a farmer. You folks can read more about my story here: https://www.asiaone.com/betting-farm-1
After successfully exiting from the farming business sometime in 2017, I began to transit to be involved in the crypto space by way of mining Ethereum. It was funny as I read about bitcoin in 2011 and I thought at that time I was late, nonetheless I got started in mining eth and built one of Singapore’s largest mining facilities.
ShuttleOne is a defi company and we are based in Singapore. We offer trade financing and microloans using the blockchain by tokenizing real world assets. We are probably one of the few crypto companies in the Defi space that applies the blockchain and crypto for real world problems in this case the financial services industry. We support Government to Business companies around the region by lending stablecoins out to these merchants who need loans and borrowing.
Gold Rocket | Satoshi Club: You have chosen a very promising part of the crypto market!👍 And you have a great background! 🚀🚀🚀
Zhuang: Well, we suffered thru the winter. I was a “real” farmer? Now I’m a real farmer.
Gold Rocket | Satoshi Club: What kind of crop have you gathered?😉
Andrés M. | Satoshi Club: Have you helped projects of farmers across your platform?
Zhuang: Virtual? Or the real world. Well, our tech facilitates the farming of SZO… and there’s huge news coming for our farmers in the next few days as we move into March…. we are going to reward our liquidity suppliers for their support to the ShuttleOne.Network.
Gold Rocket | Satoshi Club: Both😁 Well, jokes aside! If you’re ready, we can jump into the community questions.😉
Andrés M. | Satoshi Club: What have been the largest projects that you have financed or is it something anonymous?
Zhuang: Of course… Well, we did one crazy real world in a week ago? 💪Learn How ShuttleOne is Pushing Boundaries in DeFi for the Real World. 🚀ShuttleOne does First Cross Protocol Transaction disbursing SGD$100,000 via $DAI Loan Facility in DeFi for the Real World.
🧨Learn How ShuttleOne is Pushing Boundaries in DeFi for the Real World.
Zhuang: ShuttleOne<>Maker —— SGD$100,000 to an amazon eCommerce trader. I believe this is one of our largest loans…
Andrés M. | Satoshi Club: Amazing, how much is the interest rate for that big amount?
Zhuang: 6.5%, but across the portfolio of almost 3mil loans. (real-world btw) we payout 10% to our liquidity suppliers at www.shuttleone.io/mainnet It’s getting more and more exciting.
Andrés M. | Satoshi Club: Let’s go.
Zhuang: Let’s go.
Andrés M. | Satoshi Club: Q1 from Telegram User @Pratze Actually, I already follow ShuttleOne since 1st ama with Satoshi Club and the news is ShuttleOne token will list on DODO exchange, but why DODO exchange can you give the reason? because in my opinion DODO exchange is not famous, by the way, is there any other news since your 1st ama with Satoshi Club?
Zhuang: Very very good question…. Internally, when we started talking to Dodo in December….we also had that reservation… Dodo isn’t famous, they are based in China. Who are they?
Gold Rocket | Satoshi Club: This is your fan as I understand it 😁
Zhuang: But after sitting down and studying their PMM and no impermanent loss code…we realize this is actually a very safe decentralized exchange more importantly… we consider Dodo exchange the Uniswap of China…. let’s dig deeper… other than it being safe for users, and the “uniswap of china” we actually wanted to list on the 22nd of January…
Gold Rocket | Satoshi Club: These are great arguments for DODO.
Zhuang: Which was pushed back 1 month later due to technical difficulties… We realized, Dodo as team care so much about security and auditable records… Therefore, we can pretty much assume they are serious in their tech – as a technical founder. I can appreciate this. Therefore, we decided with Dodo to push back our IDO to 22/2, which after 1 month. Dodo rocketed onto Binance their token price pumped… This creates a lot of buzz for ShuttleOne because we are the 1st IDO on Dodo v2. Lastly, every token that went on Dodo did very well… The last token that IDO went from $1 – $8 in 24hrs. These are the reasons why we chose Dodo over others. In terms of news, I believe if you would follow us on Twitter and our announcement channels, we’ve many product updates, deals done and soon a serious partnership announcement coming thru.
Andrés M. | Satoshi Club: Yes, it was a big pump.
Zhuang: The agreement was signed yesterday.
Gold Rocket | Satoshi Club: By the way, share some useful links with our community.
Andrés M. | Satoshi Club: What alliances other than DODO have you made so far? I mean your partnerships.
Zhuang: As mentioned, we have struck a partnership and grant incentive with one of the largest blockchain companies globally to hopefully help solve ethereum’s high gas’ issues. The agreement was signed yesterday and it will be announced soon, it will be announced shortly.
Gold Rocket | Satoshi Club: Everyone is really tired of this problem 😅🙈 However, we are very excited about what you share.👍
Andrés M. | Satoshi Club: Q2 from Telegram User @konditer_rolex You are aiming to be the first project in Asia to provide six-figure stablecoin loans to users. What crypto assets will you lend and support collateralized physical assets?
Zhuang: We have done 2-3 6 figure stablecoin loans to users, real world companies dealing in trade finance as a product. It’s real, and it’s working. As more and more loans are done on the ShuttleOne.Network. SZO is burnt to incentivize liquidity suppliers and SZO token holders. We utilize a stablecoin called Credit Assessment Token or in short CAT. While we have not started to list CAT. It has already been on mainnet and as a crypto asset CAT has been approved to be collateral in the Maker Protocol and just like ETH can be collateralized to borrow DAI. 💫Maker (MKR) Token Holders Votes to Greenlight ShuttleOne’s CAT to begin Collateral Onboarding Work in the Maker Protocol💫
We would like to say a big thank you to the MKR holders that voted to greenlight us. Please read on to find why this matters and what does it bring to ShuttleOne.
The MKR Community has voted to Greenlight ShuttleOne's RWA Credit Application Token to being Domain Onboarding into the Maker Protocol.
So we are doing up the technicals with the maker domain teams soon. CAT is what we call enterprise stablecoins. It is available for enterprises who successfully apply for loans in our systems and it acts like an algothrimic stablecoin where it balances itself to $1. I believe more and more enterprise tokens will come out in this Defi wave.
Andrés M. | Satoshi Club: Btw, what are the main benefits for SZO holders?
Zhuang: And we have been testing and using CAT for all the loans disbursed on the ShuttleOne Network. SZO Holders are our dearest community.
Many projects in this space started off as Fintech first, still using traditional banking rails and corridors to conduct their business. For ShuttleOne, we started off a building on crypto and the blockchain and focused on solving real-world problems applying the DeFi technology to microloans and more recently in the past 6 months trade financing. As a business, we support many government-linked entities in Singapore and South East Asia. More importantly, as you will see from this loan that we’ve done via etherscan:
In ShuttleOne and SZO, we adopt a Continuous Burning Model. And we feel it is a beautiful alignment of interest of borrowers, token holders and liquidity suppliers.
Liquidity suppliers supply stablecoins into www.shuttleone.io/mainnet earns 10% APY on their stablecoins.
Borrowers take a loan from the system and burns SZO.
Token holders benefits from the lower circulating supply SZO.
If anyone looks at our smart contract: https://etherscan.io/token/0x6086b52cab4522b4b0e8af9c3b2c5b8994c36ba6 You are able to see the burning of SZO happening on a almost daily basis as loans are approved in a decentralized manner on the ShuttleOne.Network, but a very important piece of information we’d like to say SZO is a KYCed Token. That is due to our licensing obligation in Singapore (yes Singapore has a crypto law now). The traded coin is wSZO, more information here: 🚀Important Details of our Token Listing on the 22nd of Feb! Read on!
Gold Rocket | Satoshi Club: I liked this name: CAT and RAT tokens 😁 It is an accident? Or is it intended? Btw.
Zhuang: It is going to be like wNXM the wrapped version of the Nexus Mutual Token. One day we were sitting thinking about token names and my dev was wearing a Tom and Jerry shirt. So we thought: hey why not RAT and CAT. And that’s how it became the Risk Assessment Token (an NFT that captures all the details of the borrower and company) and Credit Assessment Token (a token that captures the value of the asset in the real world). Well if only we can put that as the token logo on etherscan, that would be fantastic, but it will infringe copyright issues.
Andrés M. | Satoshi Club: How much tokens do you have? RAT, CAT, SZO, which other?
Zhuang: Thats all.
Gold Rocket | Satoshi Club: You have great web designers judging by the website. They will draw even better!😁
Zhuang: But RAT, CAT and SZO work seamlessly in tandem throughout the whole ShuttleOne network with a specific purpose for each of the token types. We built everything in-house from a website and smart contracts from scratch, not a fork of a fork.
Andrés M. | Satoshi Club: So, how big is your team?
Zhuang: When I first came to Satoshi Club we were 3 pax, me, and 2 devs. In Jan we hired 8 more folks and we are a team of 11 now. We could hire before our listing because the protocol is churning revenue that allowed us to bring on a bigger team for better products.
Gold Rocket | Satoshi Club: Incredible! This is truly a team of the best specialists!
Zhuang: Yes, SZO holders first, product and execution laser focus.
Andrés M. | Satoshi Club: Q3 from Telegram User @AugusS7 If ShuttleOne really seeks to “solve the fragmentation in finance”, it means that it will be a bridge that interconnects all the financial systems both Cex and Dex, right? or what is the fragmentation you are looking to solve?
Zhuang: Another solid question. I think we are not trying to solve the divide between CEX and DEX. Both CEX and DEX co-exists as they need each other. In terms of the financial fragmentation that we are speaking about is the disconnect between the users and traditional finance. Typically, we serve the types of users that are:
Do not have strong relationships with financial institutions;
Poor credit history and underserved ;
Small ticket sizes (microloan sizes) where profits don’t mean anything to these financial institutions;
Cross border types of transactions.
This group of borrowers, typically have issues obtaining credit and this is one of the fragmentation that we speak of. Next, we feel every time anyone wants to take a loan. I’m sure many of you folks here experience these. You need to fill up a form, walk to the bank or go to the bank’s website to apply for a loan. ShuttleOne exists as a financial service infrastructure WITHIN our partners’ site. Take for instance, a sizable e-commerce company in South East Asia…
Andrés M. | Satoshi Club: How difficult is it to ask for a loan? anyone can do it or do they need some special features?
Zhuang: We are just a button in their merchant central, these eCommerce merchants just need to tap the button, apply and get stablecoins all within the same platform. They do not need to go outside their ecosystem to apply for a loan.
Therefore, we feel we are building the operating system of a digital finance future….every digital platform will have ShuttleOne incorporated in their business strategy. Well generally, if you are rich, you don’t need a loan, if you are poor you don’t have what it takes for a loan. So it can get pretty tricky…
Andrés M. | Satoshi Club: That’s true, usually, we need an excellent credit history to apply for a loan.
Zhuang: How we are faster – in Singapore and perhaps parts of southeast Asia the average application time to disbursement (getting your money) is around 14 days. Everyone knows the blockchain does it in 7mins and coupled with the automated risk and credit management systems. We have basically automated the whole loan process and made redundant the whole risk management team of humans.
Andrés M. | Satoshi Club: Well, thanks for the clarification, our users are really interested in “fragmentation” an interesting feature of Shuttle One
Q4 from Telegram User @Rosane1a8 Among ShuttleOne major objectives, their one about solving the problem of fragmentation, this is a great advantage because having multiple accounts to store our funds results inefficient and even more expensive sometimes, but fragmentation has also made people increase the security of their portfolios due to the necessity of having it diversified among several sites. How do you enhance the security of users’ funds in one place, with the fragmentation problem solved?
Zhuang: Some of the characteristics of the infra that ShuttleOne is building are these:
Non-custodial
smart contracts that hold funds of our liquidity suppliers DO NOT have admin keys. Therefore, we as a company and developers cannot rug it.
Decentralized
as a company, ShuttleOne do not hold onto funds of the borrower (neither our liquidity suppliers). All of the assets that are created from real world assets also hold to this philosophy.
Security and Risks are very important to us. The SZO contract is audited by Peckshield as early as April 2020. You can view the smart contract audit on www.github.com/shuttle-one (before DeFi even boomed).
We always ensure the safety of our users and that is also part of our licensing application with the Monetary Authority of Singapore. Which can be found on our GitHub also.
Andrés M. | Satoshi Club: Q5 from Telegram User @yellowchamp Can you describe and elaborate more about Visage Protocol in Shuttle One? How does this protocol work in the Shuttle One network? What impacts and influence it will bring to the entire platform, investors, and to Shuttle One Community? What are the good and bad sides of this protocol? Thank you!
Zhuang: First and foremost, the ShuttleOne team doesn’t only deploy blockchain, while that is core. The blockchain is just a great database for the immutability of data. Basically, it’s a decentralized excel spreadsheet.
Visage protocol is a computer vision facial recognition software that we’ve developed in-house to capture and digitize paperwork into digital format (JSON) so that our A. I can calculate the risk management portion of the borrower’s details. So simply put, Visage is like a pair of eyes that captures and remembers the data and it gets recorded onto the blockchain.
The good side of Visage is basically it automates (we do a lot of automation ain’t it?!) the risk management loan application process, truly letting machines and codes decide the outcome of a decision, taking out the human is also a good thing because it reduces the probability of fraud.
However, the bad side is also definitely taking away the human, the system is super automated and if codes do not work as planned? it may have detrimental downsides. Of course….huge…and in the ShuttleOne ecosystem, we crunch a large number of data to ensure the loan applicant is a credible and safe loan applicant.
Andrés M. | Satoshi Club: What could happen in that case? I mean, what would you do if the protocol fails?
Zhuang: At this point, if the codes fail, the loan application will just not be approved or go through (for security sake) and our partners will have to inform us to check what and how were the codes corrupted.
Andrés M. | Satoshi Club: People can be sure that this info never will be released to external companies, right?
Zhuang: It’s decentralized. So the RAT token will only have attributes, but not the raw data.
Andrés M. | Satoshi Club: Q6 from Telegram User @Mahrabhossain Could you tell me about your roadmap? What do you have planned for 2021?
Zhuang: Well as everyone knows by now….we are conducting an IDO on the 22 of Feb. The details can be read here: We will be having an IDO with dodoex.io 🚀🌕
Crowdpooling Token Allocation: 1,000,000 Wrapped SZO (0.5% of the Total Token Supply) Crowdpooling Token Price: 1 wSZO = 0.25 USDT Crowdpooling Hard Cap: 250,000 USDT Crowdpooling Start Time: 5 PM February 22, 2021(UTC+8) Crowdpooling End Time: 5 PM February 23, 2021(UTC+8)
That is the immediate roadmap that we’re planning for. In terms of products, we are planning for a series of things that will enhance the SZO ecosystem by rewarding and securing the network a lot better
More importantly, if you go to the new UIUX today.
Andrés M. | Satoshi Club: A mobile app, maybe? 😅
Zhuang: You will see a feature called ShuttleSwap.
We are intending to release into production in the next 3 months and ShuttleSwap will allow users to go from Crypto to Fiat and Fiat to Defi seamlessly. We’ve been actively testing ShuttleSwap for a couple of weeks now. This will then differentiate us from other Defi projects as we bridge the real world again. So imagine you can go from USD to farming in 3 clicks That’s going to be a game-changer.
This is currently being upgraded. So yes mobile to farming? Why not.
Gold Rocket | Satoshi Club: Incredible! You have already done so much and you have such big plans and goals!
Zhuang: We will do it. Just because SatoshiClub asks for it.
Andrés M. | Satoshi Club: Thank you very much for this exciting conversation, as a moderator I have really enjoyed it 😃🎉Are you ready for part 2 of the AMA, what I like to call “the rain of questions?”
Zhuang, [19.02.21 17:09] Let’s rain it!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Johnny ℹ️🅿️
🙋♂️Hello. CAT is an enterprise stablecoin. Am quite familiar with algo-stablecoin but I don’t think I know much about this enterprise stablecoin. Does it function similarly to an algo-stablecoin or are they different? How does it offer stability?
Zhuang: When we mean enterprise stablecoin it means that it will be used only by businesses and enterprises to value and on-chain their assets onto the blockchain therefore it is not for retail, unlike SZO.
Q2 from Telegram user @ Bea evolvet
ShuttleOne is known to have made a great effort in the fight against Covid, how did Covid19 affect the development of your project? And do you really believe that Shuttleone and it’s transfer system will improve the pandemic situation we live in?
In my opinion, ShuttleOne is a big and great project, I’m also interested in your project. so did you have any private sale or maybe an ICO / public sale that still available for now? kindly to share
Zhuang: thank you for your kind words. we hope you’d support the IDO on Dodoex on the 22 of Feb. however we do not have any private or seed rounds. that is because everyone starts fair.
Q4 from Telegram user @ Johnny ℹ️🅿️
🙋♂️Hello. As at the last time you were here, you said there is NO PLAN to carry out IEO or any crowdfunding program. But now, you will be carrying out an IDO which is similar to IEO on DODO. What has changed? Why do you think you need it now and how can interested investors be part of this?
Zhuang: This is a great question. The IDO funds raised will go to form the mining pool on Dodoex, and it is very different from an IEO or ICO where the funds go directly to the company and a large dump of tokens happen right after…we are trying to prevent this with a very small circulating supply of around 3%.
Q5 from Telegram user @ tehMoonHunter
Hello. Mr @Zhuangg535 welcome again, DODO offers sufficient liquidity comparable to that of centralized exchanges (CEX), because ShuttleOne chooses this exchange to list at $SZO, what are the benefits it offers, $SZO on it?
Zhuang:
Dodo is seen as the Uniswap of China therefore there’s a huge Chinese community backing it.
The previous IDO on Dodo went 8x upon listing, from $1 to $8.
Dodo’s tech PMM prevents impermanent loss and we believe this is a huge innovation from Uniswap.
Q6 from Telegram user @ Prof. RZ
🌻What about ShutthleOne’s tokenomics? how are your tokens distributed and how many tokens would be unlimited?
Zhuang: Here are the token metrics, but what is good to note, the initial circulating supply is at around 3% and in these bull markets, small caps you know how it goes.
Q7 from Telegram user @ Ho-jin
Can you tell us what the Structure and Distribution of the $SZO would look like? @zhuangg535
✅ I care much about real life reflections of crypto projects and you have it. Can you tell me some about SME Financing and other similar studies of Shuttle please?
Each of the cross-border transactions carried out by ShuttleOne will be completely transparent and can they be seen on etherscan? or are they totally private?
⭐️Why almost 50 % of the total supply of Shuttle one is not minted yet? How do you guarantee the security of that funds without locking the report?
Zhuang: What this means is that more than 50% of SZO has not been created. it is just like BTC right? we know there’s only 21mil BTC, and there’s around 19mil BTC circulating at the moment if I recall correctly. It will only be minted when there are block rewards created.
For SZO, it is the same. more than 50% of the tokens are not created. and therefore there are no tokens to circulate and can only be minted when there is the business to be done in the ShuttleOne.Network.
We designed it that way to safeguard SZO token holders with a small market cap, and incentivize the team to push for more loans and business to be done and therefore bringing more SZO to life.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Value Network and our guest was ARTEM – @grindandfind. The AMA took place on 20 February.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Gold Rocket | Satoshi Club: Good evening, dear community! We conclude our today’s AMA marathon series with Value Network. 😀
Andrés M. | Satoshi Club: Our honorable guest today is @grindandfind, welcome to Satoshi Club 😃💪
Artem🦄: Thanks a lot, guys, my pleasure to be here. Good day to everyone
Gold Rocket | Satoshi Club: Welcome to Satoshi Club @grindandfind😊 Thanks for joining.
Andrés M. | Satoshi Club: Same, how is going your weekend?
Artem🦄: Still working on the project, but will take some rest after the AMA 😀 Looking forward to communicating with your community.
Andrés M. | Satoshi Club: Our community is expecting this. Then, let’s begin with an introduction about you and Value Network project, please.
Gold Rocket | Satoshi Club: To begin with, please tell us a few words about yourselves and how did you get to be involved in Value Network😀
Artem🦄: We’ve started in 2018 with a crypto-backed loans MVP and it was the first time I was involved in the DeFi market, though the term “DeFi” even didn’t exist at that time. The market was cold these times so the project was re-started in September 2020 and now we managed to deploy the MVP on Ethereum mainnet. The project is fair so we don’t have huge pre-sales and stuff.
Gold Rocket | Satoshi Club: This means you have been hatching an idea for 2 years.
Artem🦄: I’ve been doing analytical researches on the DeFi market in Russia, you can find them on my Facebook page. And preparing the next big idea right.
Gold Rocket | Satoshi Club: This is quite a difficult topic, to be honest. We will be glad if you tell us as much as possible. Share a link to the resource. We will definitely check👍
Artem🦄: So I see that derivatives in DeFi are the next big thing. And Binary options is the perfect case as there’s an existing market in the fiat world though it’s a pretty simple instrument even for an inexperienced user.
Andrés M. | Satoshi Club: Yes, this could be a new topic for some members. Could you describe how binary options work?
Artem🦄: It’s pretty simple:
you select the market, for example BTC/USD.
select the price level and the timeframe, for example 60k in 3 months.
And bet higher or lower. The settlement of the bet is architectured so the winners take the funds of the opposite side. Usually, if you win you take from 30% to 70% to the initial amount that you’ve bet. BTW you can try our MVP on https://app.valuenetwork.live/
Andrés M. | Satoshi Club: Great, thanks for this introduction to your project and this concept. We have collected some questions for the community, are you ready? 😃
Artem🦄: Yep, sure.
Andrés M. | Satoshi Club: Q1 from Telegram User @cengizhantekin You started your project without token sales and offerings, but by the support of your early adopters putting the initial liquidity on the Uniswap pool. And how is the result? Were you able to get expected support, will it be sufficient for the project to reach the targets?
Artem🦄: We’ve been doing farming rewards for the first month and it dumped the cap a bit. But once the farming is done the price stands still. I see that the first month was good but not perfect, though we are focused on the long-term development and we are good now. I was happy to make the case, I tried to solve the problem of the initial liquidity since 2017.
Andrés M. | Satoshi Club: Could you share the tokenomics of Value Network?
Artem🦄: I’m so long in the industry so just needed to tokenize myself and the project
Andrés M. | Satoshi Club: Some projects are having problems with that, especially for the ETH network high gas.
Artem🦄: You can also check in our latest deck.
The end of Q1 and Q2 will be focused on tokenomics, and we also have a simple financial model (public) that says that the demand must be up to 100k USD in the next 3-6 months. Utilities are: paying commissions for the trades, staking for the creation of the new market
Gold Rocket | Satoshi Club: As far as I noticed, you are clearly following the roadmap and have big plans for 2021👍
Artem🦄: The huge part is that bets will be tradable and it will play a huge role in tokenomics also. [In reply to Gold Rocket | Satoshi Club] Yes to the day 100% commits are done. Though it was a lot of pessimism when we launched the token before the product.
Andrés M. | Satoshi Club: That’s true, @grindandfind which are your plans for 2021?
Gold Rocket | Satoshi Club: However, it worked in the end!🚀
Artem🦄: The main thing now is to move to the faster blockchains and expand the number of the markets to 1000+ in 3 months. Also to let the user stake VNTW and create the own markets
Gold Rocket | Satoshi Club: What blockchains are your priority?
Artem🦄: Tradable tokens are the next main milestone. It’s all followed by business development activities. Now Binance chain, Avalanche is in the priority. But we are also talking with QTUM and Zilliqa.
Gold Rocket | Satoshi Club: Great choice!👏👏👏
Artem🦄: Solidity in most cases can be transferred to the other blockchain pretty fast, so I wait to see it going without a 50$ commission for one trade. It will boost our user adoption significantly.
Andrés M. | Satoshi Club: Great idea, congratulations.
Gold Rocket | Satoshi Club: We understand this pain 😂
Andrés M. | Satoshi Club: Do you have something to add or we can proceed to the next question?
Artem🦄: I think we can proceed. The guys who want to learn more are welcome to check everything on https://valuenetwork.live/
Andrés M. | Satoshi Club: Q2 from Telegram User @Xusuo could you tell us how many are your main product and what are they? by the way, do you have any guide or video step by step for us about how to using the Value Network platform?
Artem🦄: Here’s the tutorial for the testnet, the same logic is on the mainnet. The main product is the binary options platform and exchange https://app.valuenetwork.live/ But we also have Uniswap fork ready at https://app.valueswap.valuenetwork.live/ For the longer markets bets will be tradable there. Just a bit far from the initial design vision, so we’ll improve it to make it more understandable.
Gold Rocket | Satoshi Club: You’ve done so much already. What are your team? how many people and what functions do they perform?
Artem🦄: Proofs on my researches when DeFi was 1 billion lol. We have 2 devs teams, one in India and 1 in Russia, they are auditing each other
Also business development guys are responsible to talk to institutional on Linkedin etc. About 10 people in general now.
Gold Rocket | Satoshi Club: Yes, tell the web designer that the website is ergonomic and intuitive. 😉
Artem🦄: Oh thank you 🙂
Andrés M. | Satoshi Club: Btw, I see on your roadmap that you are promoting an Indian local community? Why India? What about Asia or America?
Artem🦄: We implement the concept of the live project when all our tokenholders have up-to-date news in our social channels right from the founder.
Gold Rocket | Satoshi Club: Do you have a mobile application? The modern world forces a person to use one gadget for all functions.
Artem🦄: We have India, Latam, SEA regions and Africa in mind as if to speak about referral system, it has the great potential to develop in these regions.
Andrés M. | Satoshi Club: For sure, you have the potential to be a global project 😃
Artem🦄: We want to give an ability for the referrals to earn while adopting our product in the local communities. Now the project is more focused on tokenholders from the marketing side, but in Q2 we’ll start to apply to the end-user more often.
Andrés M. | Satoshi Club: Yes, that what I saw, you have audit and community plans for the coming months.
Artem🦄: Yes just to double-check our tokenomics and contracts.
Andrés M. | Satoshi Club: Great effort 👏 Let’s go to the next question.
Q3 from Telegram User @yellowchamp I understand that Value Network is a community-funded project in which according to your website, it has no token sales and offerings, you let your early adopters support your platform by putting the initial liquidity on Uniswap pool to make the token liquid and to let the project to be funded. So, from the look of it, funds are being taken from the community members themselves and investors and the destiny of the project is depends on the community and investors. So my question is, what if there is only fewer people who will put liquidity in Uniswap, what will happen to the token? What solution are you preparing to face this issue? How about the team did you spend money for the project for its development especially for marketing?
Artem🦄: At the moment we are only spending our own funds) And 3/4 of the liquidity in the pairs it’s also our funds. We good on our own funds, and that’s the thing that is the best opportunity for our holders. On 3 pairs it’s more than 50K of liquidity now and solid price moves https://info.uniswap.org/token/0xd0f05d3d4e4d1243ac826d8c6171180c58eaa9bc
Gold Rocket | Satoshi Club: Do your users need to pass KYC?
Artem🦄: I see it myself as a good result for such bootstrapped projects like ours. Nope. I’m the main adopter of the pure DeFi approaches.
Gold Rocket | Satoshi Club: Sounds good😉 Do you want to add something else on this issue or can we proceed to the next question?
Andrés M. | Satoshi Club: Which other pairs are you planning to add?
Artem🦄: It will be the usual main pais from the top of Coinmarketcap, moving further to the list. The price levels will be 10-30% from the current levels of the assets. So 20-25% of the markets will always be “hot” or “in the money”.
Andrés M. | Satoshi Club: Q4 from Telegram User @Wormz28 I’ve read in the medium that in the year 2018 you made an MVP of a crypto-backed loans platform that was made entirely on Ethereum smart-contracts but sadly the market was falling, and in August 2018, your project was frozen. Then just recently last year in September, Value Network Project was REBORN. So if it’s ok with you, can you share with us the story of what happened back then and how have you overcome that struggle? Also what is now the current situation/status of Value Network that now you’re finally back on the track?
Artem🦄: In 2018 we didn’t manage to raise funds for further development.
What’s different now is that we have our own funds for the stable development, the market solved the problem of the initial liquidity and the users are more ready for the DeFi products. The market is much wider and we’ll establish our place in it.
Gold Rocket | Satoshi Club: Really! now you are in the right place at the right time!
Artem🦄: Yes, I’m happy to have an MVP when BTC is 55 and DeFi is 40 billion. Just need more time to make a product really sexy.
Gold Rocket | Satoshi Club: 😁 lol. you know a lot about marketing. Thank you very much for the answer.
Andrés M. | Satoshi Club: The perfect time to boost your project.
Q5 from Telegram Username @Pratze I read from your site that Value Network has a Farming system and it’s already launching now, can you explain how is incentive system work in the Value Network farm pool, how many farmers will get? is there also any reward for HOLDER of your token?
Artem🦄: Farming was active for the first month, now it’s paused. For holders, we plan to have a staking plan soon.
Andrés M. | Satoshi Club: How much APR are you considering for staking and farming?
Artem🦄: The cap now is pretty small and the price is unstable so I won’t predict any exact APY’s. For the staking, we are still considering.
Gold Rocket | Satoshi Club: Do you have any plans to continue farming in the future?
Artem🦄: Yes but the mechanics will be different. I consider making a smart-contract where the farmer who withdraws his funds the last will get the most from the rewards. And the ones that withdraw first will get the least. It will motivate farmers to HODL. Now we don’t want to have any pressure in the price and it’s pretty stable.
Gold Rocket | Satoshi Club: By the way, what are the minimum investments required to receive tokens?
Artem🦄: We have the usual pair on uniswap and for farming, there were no restrictions on the minimal amounts. So you can purchase for 1 or 1000$ 😀
Andrés M. | Satoshi Club: Q6 from Telegram User @AmirJosh I read that one of the Value Network objectives behind the forking of Uniswap (ValueSwap) was to demonstrate your technical prowess, to show that the team behind Value Network could work with blockchains easily and have the capacity to fork it. Have you considered creating your own DEX platform to show how your team is capable of regarding knowledge on blockchain technology?
Artem🦄: Yes, we want to see a product-market fit on a p2p model of bets and after that will go to p2contract things. So for the binary options market to be more similar to uniswap pools. I saw the idea on your roadmap, how is going this p2p project? It will be like the p2p on Binance? Yep, I like Binance p2p exchange mechanics. We just need a fiat-crypto bridge for the fiat users.
Andrés M. | Satoshi Club: A great idea to improve the adoption of crypto. Thank you for your answers on this part, It has been an amazing time talking with you, I hope our community have learned more about what Value Network Project is and its main benefits.
Artem🦄: Thank you.
Gold Rocket | Satoshi Club: @grindandfind now we will open the chat for 120 seconds. then you have to choose 10 questions and answer them.
Artem🦄: Ok.
Andrés M: Let’s go.
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ August
They really always taught me that binary operations were too risky, so I only operate on blockchain, but now that Value will convert binary into the blockchain, will it be less risky to operate there? or what changes will there be?
Artem🦄: We have no motivation to fool you like fiat binary options brokers as the bets are p2p on blockchain and the price oracle is trusted (Chainlink).
Q2 from Telegram user @ o0s$a4l
Knowing what is happening with ETH fees, could you implement some compatibility with some other example Polkadot or BSC networks? @grindandfind
Artem🦄: BSC and faster blockchains is the main priority now.
Q3 from Telegram user @ Kabir Singh
One of the biggest issues for dapps is onboarding. What solutions do you have or the team found to try to resolve this problem? One of the biggest issues for dapps is onboarding. What solutions do you have or the team found to try to resolve this problem?
Artem🦄: We need to make a product sexy and after that, we’ll do the normal scope of marketing to onboard the users. Also content and referral blockchain system must drive the user adoption.
Q4 from Telegram user @ Capt_Star1
It’s come to notice that so many projects make a good impression at first, conduct AMAs, and suddenly get abandoned or rug pull. How will you manage this project and token to ensure that it’s a success and what assurances do you have for us that there will be no rug pulls? @grindandfind
Artem🦄: Compare my previous commits to what we have now 🙂
Q5 from Telegram user @ Apocan
Why did you prefer to fork Uniswap?
Artem🦄: As the platform for the tradable bets in the future.
Q6 from Telegram user @ Captain Price
There are other decentralized binary options trading platforms similar to ValueNetwork. Can you tell the difference between Valuenetwork products when you compare these platforms?
Artem🦄: Synthetix, BIOP, and Plotx are the main competitors. We’ll be focused on the price markets and faster markets (like less than 1 day).
Q7 from Telegram user @ Nguyenthanh
In your telegram said Value Network is a Decentralized prediction market, does it mean we must make a prediction? how does it work, is it like a “Betting game” in which there is a win and lose condition?
Artem🦄: Binary options are something between the bet and a prediction.
Q8 from Telegram user @ Austin
Why should I invest in your token? do you guarantee I’ll be profitable?
Artem🦄: Never trust anybody who will guarantee you anything) I trust in everyday work on product and with the community.
Q9 from Telegram user @ Bea Evolvet
🌺 found little information about your next goal: Community based marketing, could you tell me more about this? Would the community be rewarded in any way?🐝
Artem🦄: Yes, few levels of rewards for our referrals. The exact structure is still to come.
Q10 from Telegram user @ Maksym
Privet. In our countries, Binary options are not trusted because the result is controlled by the website creator. In simple words, the player is always a loser. How can I be sure that the Value Network is transparent and that fairness is maintained?
Artem🦄: Nice question, we use Chainlink oracle now and gonna use only trusted oracles in the future.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Welcome to another episode of our AMA
series. Today we are glad to tell you about the AMA session with our friends
from Geo DB.
GeoDB is a decentralized peer-to-peer big data-sharing
ecosystem, which returns value to its creators, the users. GeoDB creates
bridges between current isolated participants and aims to solve the huge big
data industry’s existing inefficiencies.
The AMA took place on February 17 and our guests were @anantsingh, @chevtaev,
@sachablockc and @geoffshep69.
The total reward pool was 500$ and was
divided into three parts. In this AMA Recap we will try to summarize some of
the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello
Satoshi Club! We are happy to announce our AMA session with GeoDB! Welcome to
Satoshi Club.
Anant Singh: Hey
Guys! Great to be here!
Alexandr Chevtaev: Hello
everyone!!!! happy to be here!
Sacha Gordillo: Hello
Everyone! 🙂 Happy to be here with you! The day btc is doing ATH.
Geoff Shepherd:
Hi all, really happy to be here today!
Mary | Satoshi Club: For
the beginning i will ask you to introduce yourself and of course GeoDB project
to our Satoshiclubbers 🚀
Alexandr Chevtaev: My
name is Alexandr Chevtaev, I am an expert in blockchain, business development,
digital projects management with 10+ years of experience in creating innovative
products. In GeoDB I’m in charge of blockchain & crypto business. Happy to
answer your questions today!
Anant Singh: Hello
Everyone! My name is Anant, I am Heading marketing & community building at
GeoDB. Disruptive technologies have always been my passion, and that one of the
reasons I was attracted to mining Bitcoin for a few days back in 2011, got fed
up & erased it all (😖 – hurts more today).
In 2016 a stranger managed to convince me to sell a conference ticket for 0.6
BTC (€350)! Since then, I have gone through a non-stop roller coaster ride! I
am an active trader & involved with few crypto projects.
I firmly believe there’s a massive upside for BigData firms
that embrace blockchain tech. What attracted me to GeoDB was the core belief of
its founders & the team: Soon Customer data will no longer be owned by
organizations but by each individual, represented as tokens on an identity
blockchain. In the future the customer will grant access to others as required
& will be able to profit from it.
Geoff Shepherd: Hi
guys, I’m Geoff, I first got involved with GeoDB in early 2020 about a year ago
when I invested in a crowdfunding round, and I got really hooked on the project
as I thought it was super interesting and a really good concept to reward
people for their data. I was the first person to be appointed as a Geo
Superstar when the team were looking for more engagement from keen members of
the community.
I’m one of the community supporters and ambassadors, so I
help out by answering questions, supporting the team, and helping to promote
the project. I’m here today to support
the team and represent the views from an investor and community member, so feel
free to ask me any questions that you have.
Sacha Gordillo: I
am Sacha Gordillo. Cofounder of geodb. I
have been a financial trader for 10 years, specialized in fixed income,
specifically American and german Bonds. 5 years ago I got into Cryp totrading,
and from there into Blockchain Tech.
Since we started the company almost 3 years back, I am totally focused
in GEODB.
Alexandr Chevtaev: Let
me also write then about what GeoDB is.
GeoDB is a decentralized peer-to-peer big data-sharing
ecosystem, which returns value to its creators, the users. GeoDB creates
bridges between current isolated participants and aims to solve the huge big
data industry’s existing inefficiencies. Currently, GeoDB is in the process of
releasing all of its network apps; GeoCash currently has over 250k+ users and
growing. To learn more, visit geodb.com.
Another new wave of our development is creating an Open Data
Interoperable Network (ODIN) which will also connect the generated data to our
oracle network. geodb.com odinprotocol.io
Anant Singh: And
those who don’t want to read here is a quick video about our past 3 years! PS:
there is part of 500 USD worth of pvt key hidden in this video! This is (1/3)
😉
https://t.me/Satoshi_club/559526
Q1 from Telegram user
@AmirJosh
GeoMarket propose a
REAL alternative to manage how users provide their information and how data
scientists obtain them. What is this Real Alternative sytem that you implement
or introduced to users so that their data cannot be exploited in any way and to
protect data too? GeoDB has been around for a while now so I guess you have
already tested this system, how effective it is compared to other providers?
Alexandr Chevtaev: ok,
here are several points.
when we obtain data from the apps, we never
touch or see user’s private data. you can make sure in it on the SDK level.
More than that data which we gather is verified in blockchain. So we already
operate with anonymous data.
as for data consumers – these can be traditional
business and organizations who acn buy near-to-real time data sets based on
their needs with being sure that this data is valid (big problem today) another
type of data consumers are blockchain developers.
In the end we see a fully automated
decentralized system of generating data, rewarding users and offering this data
to data consumers in the same automated and transparent way.
Also to add a bit: There are no real alternatives who reward
users with crypto and who has such a solid coin & traction as ours. There
are alternatives where you get different bonuses in apps etc, but not real
crypto & the generated data is not that valuable and diversified as in
geodb case.
Mary | Satoshi Club: I
had one app previously in 2017, they also rewarded me, but actually, i think
their project failed during bear market.
Alexandr Chevtaev: While
you are writing the next question I will add more on this – data will be
available not only on our marketplace, but also on many other solutions from
decentralized world such as oracles (we are working with Chainlink) and data
marketplaces – you will see the news in the coming days 🙂
D. | Satoshi Club: How
we can be sure that you not see our data? can the average person check this
somehow?
Anant Singh: So
by default each app will ask you to either enter email or sign up using social
account. In our case you download the app and you are ready to go after wallet
set up.
Alexandr Chevtaev: We
are interacting with Apps who are in charge of your data. They do a validation
of SDK we are providing and also they see what data we are taking from them. So
far the apps we have connected are not even generating private data (you do not
provide names or emails in the app)
when we start operating with apps containing those info, we
will do a transparent mechanism to see which data you are sharing with GeoDB.
so it will be clear for general users too.
e g soon we are getting connected with Wave Application
which has 12 million + downloads and for their users we will provide a
transparent way to make sure that we capture only behavioral data. Other static
data like sex, age, etc will be also possible to provide but not the name, etc.
Mary | Satoshi Club: It’s
easy 😉 how do you fight with bots then?)
Anant Singh: We
have our system to identify them, and our testnet has been running long enough
to differentiate & we are getting better. no matter how good the bots are
their behavior will be slightly different than day-to-day users.
Q2 from Telegram user
@Wormz28
PRIVACY is the utmost
concern for any internet users and Online Platforms are the places where your
privacy is at constant risk. In GeoDB, it’s so nice that you will reward users
in exchange for just sharing our data. So may I ask how this works like how are
we rewarded for the data we generate and what data is being shared? Also what
does GeoDB do with this information and how about the Email, Is my email linked
to the information I share too?
Alexandr Chevtaev: Today
we are capturing the following data (and this is the only available data in our
first application GeoCash):
location
mobile OS
battery level
signal level
So far nothing more is captured, you need to activate GPS
& other necessary settings for geocash. data is being shared and once its
shared, the reward is allocated to you within the block of rewards
transactions. so, it’s quite straightforward!
Email or other private data is not captured but e g soon we
have more application to be connected which will generate other data like your
consumption data (processed retail shop receipts). there it will work the same
– you provide the data & get a reward through blockchain smart contract again,
NON private info or contacts will be taken without your permission.
And as for how we use it: this information is later offered
to data consumers through GeoDB marketplace, other data marketplaces, our
(ODIN) and other blockchain oracles.
Mary | Satoshi Club: Do
you have guide how to use app?
Here is a quick Video showing how to properly install
GeoCash! Most important points are :
Save private key
Set location permission to “allow
always”
Don’t send tokens outside Geocash network!
Chill
Alexandr Chevtaev: And
important key for all that ecosystem supporting our large amount of users is
GEO token. It went well up in the last weeks, can be traded on Uniswap &
Bitforex.
D. | Satoshi Club:
And we get rewards in your tokens? correct? as i know you have launched your
token not long time ago? can you share some specifics about your token, how
many tokens in circulation and other token allocation details?
Making profit out of
data is great. So I went through the stats you provided on your website, and
saw that you rewarded 120K wallets with 7M GEOs so far, which makes about 60
GEOs on the average, equivalent to about 50 USDT for an average user. This
doesn’t seem very attractive. Is there any chance for users to multiply this
income in some way? Do you provide additional profits which are not included by
these stats?
Alexandr Chevtaev: Many
of those users are new, some are more & some are less active.
But think on average: our users don’t really have to do
anything and just allow to share their data get like 20-30$ per month. it’s not
bad for a start. But yes it’s the first use case. Soon more data sharing cases
will come. More ways to generate income by providing more valuable data. Location
data is easy to get and not the most expensive one but it’s a very good use
case & traction to validate our value proposition.
Mary | Satoshi Club: Was
it always 20-30$ per month? 😀 I see that price of
GEO increased last month.
Sacha Gordillo: I
want to add, there are 2 relative views on this.
1.- You can keep your GEOs for the future. The limited
supply of them and the snowball effect of the having more data, makes the Data
pool more attractive, so buyers will have better outcome from their purchases
in terms willing to pay more to acquire the data.
2.- 50 USDT can be a lot depending on which country. And actually there´s a lack of world data
from countries where this might happen.
And this can be useful for companies or governments.
D. | Satoshi Club: 20-30
bucks per month it’s not bad for the passive income.
Alexandr Chevtaev:
It is different because of the price, yes 🙂 we have also been
changing the reward algorithm which is now driven more by a value being
created. You shouldn’t look at it as a cash instrument. those people who buy
& hold GEOs won the most and we are just in the beginning…
Geoff Shepherd: Also
remember that people are already sharing a lot of data with all the other apps
on their phone, but get nothing for it…. whereas GeoDB rewards the user for
sharing their data with us.
Q4 from Telegram user
@Arisabela
GeoDB is committed
with the democratization of the data industry, however isn’t a simple mission
and quite difficult to achieve it alone, what are your strategies to
collaborate and make relationships with the rest of projects and the community
on DeFi ecosystem?
Alexandr Chevtaev: Very
good question because openness is one of our main priorities now! and
blockchain is about cross partnerships and connectivity. As mentioned before,
we are now working on closing several big partnerships to provide our users
data to other marketplaces and oracles and also other providers like
applications (to grow more user base), different technological applications to
improve our solution etc.
Regarding DeFi – we have currently our liquidity pool on
Uniswap with 222% APY https://geyser.geodb.com/
We are going to introduce new tools soon as well; you should
follow our updates in this & coming week. we will have many big news &
expect good price growth of GEO.
Anant Singh: Yes,
interesting question, and it brings us to the partnerships we have coming. We
recently announced our partnership with chainlink; we will make our data
available! Also, we believe that it’s a combined effort of all the similar
companies within this field that will make a huge difference (we announce a lot
of major collaborations soon 🙂 That’s why we are working with most of them on
a very deeper level. Also, interoperability is another important aspect &
we are integrating with each chain in some way. That’s what I can say without
giving away much :).
Q5 from Telegram user
@garrinepotter
Unfortunately, there
are a lot of negative reviews about GeoCash on Google Play. Users are unhappy
with the loss of tokens after application updates. Tell us how the registration
in the application goes and what needs to be done to prevent data loss. Perhaps
there is some way to recover.
Anant Singh: Yes,
the biggest challenge for us is to be educate people about this new concept
& we do all efforts to inform & make them understand. You can know that
by joining our groups! We did a swap where we converted geocash tokens to real
tokens and locked in the smart contract so that people can withdraw them when
they want. However there are so many new people in the space that they have no
clue what a smart contract is & a lot just don’t read. so that’s the reason
for those bad review & now when the token price is increasing they are
learning without instructions ;).
Geoff Shepherd: First
of all, like any crypto wallet, if you have your private keys, then nothing is
lost, it can always be recovered if there is any problem with updates. Many
people didnt properly read the communications about the swap from test tokens
to real tokens, and believed their Geos to be lost, but they are not,
everything is held securely. We also have a really helpful telegram group where
people can ask any questions they like, there are many admins and stars who
will help to respond if anyone has any issues.
Alexandr Chevtaev: And
BTW there was a question related to cryptoeconomics. While guys are replying to
Q5, let me write on that so we have 2 tokens GEO & ODIN, GEO is to reward
users for the generated data and this token is bought back by data consumers.
700M tokens are locked for the system reward and will be allocated within 21
years. This part is to generate value around generated data which later will be
purchased (GEOs are bought back) by data consumers.
25% is for investors. We have raised so far more than 5
million in equity + token. Mostly our investors are from UK & EU. 5% is for
team. Broth investors and team tokens are locked and can be released in small
portions during 18 months after switch to main net.
Our current circulating supply is a bit more than 21.500.000
GEOs and market cap is over 20M usd another token is ODIN which will be
launched soon. This one will be hard to get. So far it will be possible only
converting GEOs into it. This is a Network and DAO governance token.
Data consumers pool – 10%
Staking and validator’s rewards- 30%
Company and Founding team – 10%
ODIN Treasury (ODIN tokens allocated to ODIN Treasury are
not taking part in System Governance) – 50%
Geoff Shepherd: We
also put responses to some of the negative reviews on Google Play, and many
people changed their ratings after they understood the process a little better.
D. | Satoshi Club: Yeah
these things might happen, if some holders didn’t follow the project news, or
were not pay attention to details of swap they probably can lost their funds
very easily.
Anant Singh: BTW
guys Yeah we will have ODIN whitelisting event soon, so people need to have
Geos in their ERC20 wallet to be whitelisted.
Mary | Satoshi Club: Wow!
How many GEO we need to have?
Anant Singh: Well
50 GEO = 1ODIN there is no limit as of now. We will release info soon.
Alexandr Chevtaev: In
ODIN we have delegated proof of stake mechanism meaning that only top holders
will get a right to participate in transactions with their node, so, the more
you have – the better! we cannot predict, but many guys already have nice bags
of GEOs. Look at the price & cap growth.
Q6 from Telegram user
@yellowchamp
In your 2021 Roadmap,
it is written that you will launch 10+ Proprietary Apps. So, can you explain
what are those Proprietary Apps? Why is there a need of that much apps in your
platform? What is the use of those apps If this plan will be realized soon,
what maybe the impact that it will brings to GeoDB network, users, community
and investors? Thank you
Alexandr Chevtaev: proprietary
apps like GeoCash is to show to the digital world how it works of course very
soon and in the future we will rely more on connecting 3rd party apps to GeoDB but
so far it was a very good use case to show how it works to the App partners and
to data generators / users.
And of course the data which is being generated is valuable,
e g GeoScan is fully demand driven. We have large companies from France who
demanded the consumer behavior data. so we are together with partners, experts
in that market About Goods, are launching this app. This a very good use case
because we expect more GEOs to be bought back by data consumers, which is good
for crypto economics.
Sacha Gordillo: We
created geodb to make big data market more efficient, more transparent, and to
bring fairness to it. We ease the game. Geodb build bridges among Bigdata
market participants and give back some of the value generated to the people.
So DATA can come from 3rd paty apps or our proprietary apps.
Anyone can build an app around GEODB. So the important and main focus is to
capture data no matter where it come from, but from a buyer point of view,
different types of data add value to their data science processes. Also,
launching our own apps is a way to build more community and show real cases
working the fastest way.
Anant Singh: So
all the GeoDB network app will give you different options to send us data. This
means IOT devices, cars, health, and much more!
Geocash is the first app, 2nd geoscan – scan recites and
earn, 3rd Volta – workout and earn (One is about dating 😉 we have to see how
we adjust it to the current time), rest we will reveal soon.
Mary | Satoshi Club: So,
does it mean that i will need to install all 10 apps? If i will want to share
all my data to earn more?
Alexandr Chevtaev: There
won’t be 10 proprietary apps, the main idea is to connect apps which are used
for other purposes like delivery, sport apps, etc etc and while you are using
the app as you used to use it, you generate rewards in GEOs, that’s exactly how
the data world works today, but you are not getting rewards though by using
apps you produce lot of valuable data, and this is the change we are bringing, bringing
value back to the users.
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 @SutedjaDian
How can I use GEO
token on the apps? I mean what is the utility of the token? Can you give us a
clear overview?
Alexandr Chevtaev: Yes,
you will be rewarded with GEO token for the generated data, so GEO is a value
representing generated data. Later on the GEO is bought back when their data
consumption happens.
Q2 from Telegram User @SutedjaDian
How can I get 222% APY
from liquidity pool? Will this only for a limited time?
During the mainnet can
we pull GeoDb directly from Geocash without having to exchange it?
Geoff Shepherd: Yes,
after the Geocash app moves onto mainnet you will be directly earning real Geo
tokens, no need to swap or convert.
Q4 from Unknown Telegram User
…
Alexandr Chevtaev: By
the end of February and only in France for the beginning as we have data buyers
from there, but 2 more countries are in progress and many more coming.
Q5 from Telegram User @ShaLiPon
Is GEODB network app compatible to
android devices, is it available in Playstore?
How easy is it actually to use is
GeoDB? What would any user need in terms of knowledge and devices to use it
properly and and take advance of all the features?
Geoff Shepherd: The Geocash app is super easy to
install and use, it doesn’t require any technical knowledge. But you are being rewarded in crypto tokens,
so it’s worth doing research and building up your knowledge of how the whole
crypto world operates.
Q7 from Telegram User @HeRmAwAnTrAdEr
What are you targeting and focusing
on this year? and how do you reach it?
Alexandr Chevtaev: launch
ODIN main net reach 1M of GEO wallets connect to 10+ solid marketplaces &
oracles to provide generated data listing on 3 top 10 exchanges and many
smaller events like pools, bonuses, new connected apps, etc
Q8 from Telegram User @Pratze
GeoDB have referral system which we
can invite our friend but I can’t found any info regarding referral in your
site. What is the use of referral system in GeoDB? How is the calculation
reward that we got from our referral?
Users of GeoDB get rewarded for
generating data. Can you explain how works the reward system of GeoDB? Is there
a general reward system or every app has its own system? Are all the rewards
distributed with GEO?
Alexandr Chevtaev: Every
app works similar tech wise you share the data – and you get rewarded within a
block of transactions which captured your provided data. As for the reward
volume – irs different in any case. location data e g is cheaper; consumption
behavior data is more expensive.
Q10 from Telegram User @Alika061
Can the tokens you
have be used for staking, if so, is there a minimum for staking tokens on
#GeoDB and do you create opportunities for other people to register as
ambassadors in the #GeoDB project?
Geoff Shepherd: Yes, you can stake your Geo tokens
and ETH in the Uniswap liquidity pool in exchange for LP tokens. These can then
be added to the GeoDB geyser to earn more bonus Geo tokens. We are always
looking for more passionate people from the community to support us, there is
an application form available in our Telegram group if you are interested. That’s how I got started!
Q11 from Telegram User @Boylut
Does GEODB has competitors outside
the blockchain space? If yes could you please list some of them?
Alexandr Chevtaev: Yes
e g SweatCoin, Gelt. Good growing startups outside of crypto space.
Q12 from Telegram User @Wormz28
As I’m exploring your
website, I saw your GeoCash-Data Generator App, it’s very familiar to me and I
remembered I’ve downloaded it before last yr I think and I have account in
GeoCash but I uninstalled it because it stopped from generating GEO tokens. So
may I ask how can I get back to the app? Is the PRIVATE KEYS really needed?
What if I lost or I forgot the Keys, is there any other ways maybe?
Anant Singh: Yes
you need the private key to recover your account.
Q13 from Telegram User @Wormz28
Big Data is becoming
one of the most valuable assets in the world, being exploited by small
oligopolies and GeoDB is a peer-to-peer big data sharing ecosystem powered by
blockchain technologies. So how will GeoDB solve the existing inefficiencies of
the huge big data industry?
Sacha Gordillo: Big
Data market has a size of near 300 Billion, it´s growing at 12-14% annual rate.
So we can say we are in a growing glooming industry for the next years.
Despite the world economic Situation and the questions
around the existing financial system in most of the world, Big Data will keep
on growing, the value of the data will find its way filtering by type and
importance, making this industry bigger and bigger. If I can think of one line
for any company for the present and future: “It´s all about the data”
We ease the game. Geodb build bridges among Bigdata market
participants and give back some of the value generated to the people.
Q14 from Telegram User @Gutike95
Do you really think
mainstream users need applications like Volta or Wawa? So how does GeoDB intend
to achieve global adoption with applications that are not really necessary?
Alexandr Chevtaev: Through
connecting to applications which are widely used for different purposes, to
connect an app to geodb will be very easy. and both – users and app developers
will rewarded.
Q15 from Telegram User @dumpspump
Are you working
remotely or full time on office? If freelancer do you accept people around the
world who wants to work with you?
Alexandr Chevtaev: We
accept all over the world today remotely, we have 35+ full time team members.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about GeoDB. A link to a Quiz
form was sent into the chat. Participants had 10 minutes to answer. 300$ were
distributed between the winners.
For more information and future AMAs, join our Social Media
channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from CocktailBar and our guest was Mr. Martini. The AMA took place on 19 February.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club: Hello again Satoshi Club! We are happy to announce our AMA session with CocktailBar! Welcome to Satoshi Club😀
Gold Rocket | Satoshi Club: Good evening, dear community! We conclude our today’s AMA marathon series with CocktailBar. Today our guest is @Mr_Martini!🍸🍸🍸
Mary | Satoshi Club: @Mr_Martini welcome to Satoshi Club 🍹🍸
Mr. Martini: Hey guys! Thanks a lot for hosting me and the cocktailbar community today! Really excited! The most important question, how are you guys doing tonight?!
Gold Rocket | Satoshi Club: Perfect ending for Friday, I believe 😉
Mary | Satoshi Club: God created Friday evening special for this AMA😂
Mr. Martini: No better day to discuss about bars and cocktails , am i right?!
Mary | Satoshi Club: Sure! Mr.Martini! Let’s start our party?😉
Mr. Martini: Yes! Indeed let’s proceed !
Gold Rocket | Satoshi Club: Well! Introduce yourself! Tell us how you came up with this brilliant idea with a Cocktailbar.
Mary | Satoshi Club: Tell us how did you start with cocktails(crossed out)😂 with crypto?
Mr. Martini: The idea was encapsulated late last year, and the main concept came during a time when we were all stuck at home, covid got us all down and we really had no where to go, so the idea of a virtual Cocktailbar just seemed to fit perfectly like a glove.. It went hand in hand with the times, and on top of all that… I just really, really like cocktails…
The vision of the Cocktailbar was always to spawn off into a virtual world with screen estate for people to enjoy different crypto games/ project…
Mary | Satoshi Club: Yes, we all missed Cocktails in bars😉
Mr. Martini: However, it quickly morphed into something bigger as we always were fans of NFTs & art (hence the beautiful art-centered website), and realised the possibilities that come with it, such as something we are really proud of called interactive NFTs (more than just a image ,video or gif, it will be full 3 dimensional, static or animated webGL augment and virtual reality, and which will also be paired with real world assets. This is something that actually we are speaking of for the first time and we actually intended to leak this tonight.
Mary | Satoshi Club: Oh, all sweet things in one place😉
Gold Rocket | Satoshi Club: And how it became compatible with crypto?😁
Mr. Martini: Yeh definitely, there’s definitely a lot we’re taking on but we feel this will be smooth sailing here on out once the Grand Opening takes place.
Mary | Satoshi Club: Tonight is a special day for you?😉
Gold Rocket | Satoshi Club: You are just a genius 😁😁😁
Mr. Martini: Yes, it is! It’s a special day for a lot of us at the CocktailBar, team, and community! We’ve gone through a lot together but the day is finally here
We are launching our Grand Opening tonight shortly after this AMA and I’m really happy that we were able to share a few moments before, here with you guys to give a glimpse of what’s to come further down the line
Mary | Satoshi Club: We are happy to be a part of this day! It’s always exciting 🌟🚀
You can do it now!!!
Mr. Martini: While farming was a big part of the beginning roadmap of CocktailBar we saw a huge shift in the markets and while NFTs was always the plan, we never planned it a the scale we are taking on right now…
Mary | Satoshi Club: Ohhhh… Wait! We have the first question from our community about this!
Mr. Martini: We truly believe WEBGl formatting and Interactive NFTs are the future of the space and can confidently say we are one of the firsts to do this.
Mary | Satoshi Club: We can start with them, btw😉
Mr. Martin: Yes, sure! Ask away! 🙂
Gold Rocket | Satoshi Club: Q1 from telegram user @ovkneze_big I have two passions: good cocktails and NFT! You are doing great with this. Please tell me about NFT from the menu and what else tasty do you have in your plans for me)))
Mary | Satoshi Club: Nice passions, @ovkneze_big 😂
Mr. Martini: Well so one thing that needs to be clarified is that mojitos aren’t NFTs but the drinks you’ll be farming will get you access to some form of NFTs, These NFTs, which in my opinion is the tastiest part, are paired with real world assets…
Mary | Satoshi Club: Wow! How? explain, please 🚀
Mr. Martini: MOJITOs are ERC-20 Tokens 🙂
Gold Rocket | Satoshi Club: It’s very interesting😁
Mr. Martini: You’ll be able to stake your COCs, and cocktail drinks (mojitos, etc.) to earn nontransferable tokens that can be redeemed to mint NFTs that will come with a certain pairing of real world assets… We don’t want to give too much away on what those real world assets are but let’s just say that one of our team members is a jeweler. I think that’s a good hint, isn’t it?
Now take this same model and imagine NFTs paired with real world drinking games?! That sounds pretty fun too right?!
Well, these are just some things that we have brought to production 5 months that we’ve been hard at work….
Gold Rocket | Satoshi Club: Tell us a little about your team by the way. Who are your associates?😉
Mr. Martini: Also, our website took a very long time to create, and just wanna say how proud I am of the team for accomplishing such a feat … If some of your members haven’t checked it out, I urge them to do so! 🙂 cocktailbar.finance
Mary | Satoshi Club: Yes, it’s very creative! I feel like in old good Friday evening times😂 You managed to create a presence effect. And our second question actually about your team, maybe we can ask it?
Mr. Martini: Our team members consist of a seasoned jeweler/3D rendering and modeling, an on-site, hard at work dev that has lost many sleepless nights thanks to my indecisiveness to help me get this the way i envisioned it, and a very skilled graphic designer who’s helped me build such a fantastic environment for the location of our bar. Yes feel free to ask, it’s an AMA after all 🙂
Gold Rocket | Satoshi Club: Q2 from Telegram user @borysfireball Drunk people often do nonsense. We are already a little intoxicated by recent FOMO and here you come. Do you pour at any age, is there a limit from 21? Do you have a license for alcoholic beverages and who will be responsible if something goes wrong? Will we ever see the real faces of the bartenders and the director of CocktailBar?
Mr. Martini: Well well, I don’t think it’s encouraged for underage aping ;)…. We have a license in the form of a security audit (by solidity.finance ) that should make it safe enough for us to serve our cocktails to the good people at the bar! 🙂
And yes regarding our identities, as we mentioned with the pairing of the real world assets, with real world physical goods comes shipping and with shipping comes addresses.. There will definitely be a form of kyc going forward when dealing with such assets and distributing it to the people who redeem them.
And who knows, I may get really drunk one day and decide to do the zoom call with the whole community! With Alcohol, anything is possible!
Mary | Satoshi Club: Deal🤝 don’t forget to invite us to this party 😉 Can you give us a link to your security audit?
Mr. Martini: The audit was done for all the tokens in our “cocktailBar ecosystem” COC, PEANUTS and MOJITOs.. as well as the staking contracts that will be deployed tonight!
Gold Rocket | Satoshi Club: Q3 from Telegram user @Korryl I read from your Twitter, your token PEANUT already burned for 11.85% from the original supply, may I know how is your burn system work, what is trigger the token burn? And I see you still have another token like MOJITO, etc. Do they have the same burn system as PEANUT?
Mr. Martini: Ok so PEANUTS is an ERC-20 deflationary token that started at a total supply of 2,500 … and with every transaction we implemented a TESTA WASTE fee (burn fee) of 5%, reducing the supply of peanuts only until there is 100 left.
MOJITO does NOT have a burning fee, but it does have a spillage rate of 1%, this dribbles down into a happy hour pot which creates a passive dividend farm that will be active long after the MOJITO farm is tapped out (MOJITOs will be farmed for 2 months only, at which point all 5,000 MOJITOs would have been farmed).
Mary | Satoshi Club: Interesting system. You created a lot of opportunities for your users. Do you personally prefer MOJITO or PEANUTS more?😉
Mr. Martini: Yes indeed, the idea was to create something as expansive as my imagination while not reaching too much for stars and still staying grounded. Well, that’s like asking a mother if she prefers her older or younger child isn’t it?
Mary | Satoshi Club: Right😂 Thanks for your answers! Ready to jump to the next question?
Mr. Martini: But in all honesty who doesn’t want to enjoy some peanuts with their cocktails?! Yes indeed!
Gold Rocket | Satoshi Club: Q4 from Telegram user @Pratze I read your medium that you have an interesting system name “Russian Roullete”, can you introduce to us what kind of system is this? Is it like a gambling game where we possible to win and lose?
Mary | Satoshi Club: Russian Roulette after cocktails?😳
Mr. Martini: Yeh, I’m nuts I know. So Russian roulette is was thought up with the idea in mind that you’d compete against another person’s stake.. a high-risk, high reward game that always produces one winner, and one loser.
Mary | Satoshi Club: Dangerous game for the riskiest😉 Do your users enjoy this idea?
Mr. Martini: They love the concept of where we’re heading but I’ll be honest that a lot of the stuff I’m sharing tonight may also be a first for them to hear (webgl, interactive NFTs, etc.).
Mary | Satoshi Club: I think they follow this AMA with a big interest👍
Gold Rocket | Satoshi Club: Q5 from Telegram user @Highpee You have now added a new Fine Implementation from staking (1% as fee) and unstacking (2% as a fee) activities. Why do we have to pay more to remove our cocktails from the bar pool and what will these fines be utilized for within the bar? In addition, staking for MOJITOS will create a secondary reward pot which you have described as the HAPPY HOUR POT and a user must be available at the hour of claim if not, the reward will be missed. How do you determine the HAPPY HOUR time and how will you communicate it to users in order not to miss the sweetness from this POT?
Mr. Martini: But yeh, we’ve been seeing a lot of new holders coming on board, i think we’ve increased in a few days by 100! … from having almost 0 volume in trades to now being up a bit over 500% in a week.. I think they do love what we’re doing!
Mary | Satoshi Club: Yes, I saw your charts😂🚀
Mr. Martini: Excellent question! so first, let’s talk about Bar fines! So for our MOJITO pools, we’ve implemented a bar fine, as you stated, 1% stake, and 2% unstake.
The reason for this and the reason for a higher unstake is to incentivize people to keep staking, what this bar fine goes to? It locks the % fee forever in the contract, gradually increasing the price floor as more people stake their LP tokens…
Furthermore, when staking COC. It pretty much turns COC deflationary as each % fee of COC also gets locked forever. Decreasing the supply as more people stake.
Mary | Satoshi Club: Don’t you think that current ETH fees enough to incentivize people to stake?😂
Mr. Martini: Yeh ETH fees have been pretty horrendous, unfortunately!
Mary | Satoshi Club: With an additional 2%, 🤷 this CoctailBar is only for whales now, but i hope the situation will change.
Mr. Martini: Well, you’re staking to earn a secondary token so hopefully the MOJITOs you earn to compensate for the % fee paid for Bar fine 😉
Gold Rocket | Satoshi Club: Q6 from Telegram user @JuanSB07 What are Cocktailbar’s plans in a few months or years? What are the goals and objectives of this project? Are you planning to put a roadmap on your website?
Mr. Martini: Well to come what we are focusing heavily on is the launch of our Real-world Asset paired interactive NFTs (More than your usual JPG/GIF formatted files), which’s currently one of our top priorities, we feel 2021 really is the year NFTs take center stage in more mainstream markets. We have a brief outline of the roadmap for the year to come on our medium article here!
Mary | Satoshi Club: Yes! It will be really unusual launch! Thanks! We will definitely read it! And the first part of our party is finishing 😃 @Mr_Martini are you ready for the part of the live question?😉
Mr. Martin: Born ready! 😅
Mary | Satoshi Club: Let’s go 🚀
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Johnny ℹ️🅿️
🥂Hello Mr. Martini🍻 $COC will be used to grow the Cocktailbar ecosystem and it can be staked to get additional tokens from other cocktail menus. From my counting, you have $MOJITO, $RUSSIAN, $MAITAI, and you recently added a fourth which is $PEANUT. All these tokens have a limited caps, but the list keeps increasing. Why do you choose this token model? Are we to expect more drinks as you prepare more menus for the bar? @Mr_Martini
Mr. Martini: So for the foreseeable future, we’re going to be focusing on the ecosystem at hand and the cocktails that are still to be launched that were promised, and looking to grow these and incorporate them in more ways than one as we continue to go forward … The menu will continue increasing in terms of activities and what you can do (such as staking to earn non-transaarrable tokens for NFTs etc.).
Q2 from Telegram user @ Pokemon
How can I become a liquidity provider and earn from the CocktailBars growing ecosystem, any detailed guide? @Mr_Martini
Mr. Martini: Yes! There’s a brief explainer in this medium article below! 🙂
🥂Hello Mr. Martini🍻 If we stake into the MOJITOS pool, how is the HAPPY HOUR time to claim determined and how will you communicate this to users so as not to miss out on the HAPPY HOUR reward pot? @Mr_Martini
Mr. Martini: So the happy hour sign will always light up for 4 hours per day (in which time rewards will be claimable ) Next to the glowing happy hour sign, there will also be constant communication within all social media accounts to let people know that the happy hour is on (once token contracts are deployed we’ll be able to communicate better when this will be ) ~ 20 hours after contract deployment will see the first Happy Hour take place.
Q4 from Telegram user @ Boylut
In the part of the discussions above, you said you guys believe WEBGl formatting and Interactive NFTs are the future of the space, this is the first time I would be hearing about it, can you briefly explain what WEBGI formating is and how it can benefit the crypto space at large? @Mr_Martini
Mr. Martini: Excellent question!
WebGL (Short for Web Graphics Library) is a JavaScript API for rendering interactive 2D and 3D graphics within any compatible web browser without the use of plug-ins. WebGL elements can be mixed with other HTML elements and composited with other parts of the page or page background.
Webgl format uses 3d models that u can zoom in rotate and interact with… and compatible with AR and VR. We are building our own engine to support webgl (Think variable but WEBGL).
Usually, a project only have 1 or 2 main tokens and the use is for governance token and the other is for DEFI ecosystem like a stake, farm, trading and etc. But CocktailBar has 4+ type of token can you explain the main reason create so much token? Don’t you afraid people will judge cocktailbar project is not focus and give an impact on all your token price?
Mr. Martini: Well, the idea with the Menu of drinks and multiple tokens all with different token mechanics was to give our users at the bar options, just like most bars, and with every option comes new ways people can benefit, earn and take part in the ecosystem… We don’t plan on launching one coin and forgetting about the others… Every token will have its use, but every token will also complement each other somehow… For now, all tokens can be used to earn MOJITOs
Q7 from Telegram user @ Vmoon
What types of games does Cocktail Bar offer?
Mr. Martini: None for now but using a stake to earn model users will soon be able to challenge each other through Russian Roulette! But as stated for now there are no games YET at the bar! But hang tight!
Q8 from Telegram user @ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ
Why did you decide to place a game theme on your website where you can explore some features of the project? Is it really a good way to publicize your project?
Mr. Martini: Yeh I really wanted to create something expandable and I feel a virtual world, or virtual city if you will, fits perfectly with what my vision was… Huge fan of cyberpunk vibes and visualization as well as a lifelong video game enthusiast, I felt incorporating this model into an ever-growing ecosystem that would create a story in and of itself was super interesting… We could have a new store moving in next door tomorrow! Who knows!
Q9 from Telegram user @ Apocan
Can you provide some information about “Just-A-Tip”, how does it work?
Mr. Martini: Just the Tip is a new way for people to send and receive tips in the form of drinks! The plan was for this to be a MOJITO only application but since I’ve decided it would make more sense to incorporate all the drinks at the bar with it… Like i just said, it’s good to have some variety 🙂
Q10 from Telegram user @ Berta
Do you have plans to migrate to a blockchain with lower fee costs like BSC?
Mr. Martini: Yes recently this has been a huge talking point amongst some of our longer holders and we do agree that the current gas fee prices are a bit of a shame and do turn a lot of people away, we are actively looking into solutions to resolve this problem for our users however we’ve had limited time this past few months getting everything up and running.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Polkabase.Finance and our guest was @PolkabaseAdmin . The AMA took place on 19 February.
The AMA session was divided into 3 parts with a total crypto reward pool of 750$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Luis Merino 🇪🇸 | Satoshi Club: Hello everyone and welcome to another AMA session with Satoshi Club. Today our guests are from Polkabase. @PolkabaseAdmin welcome to Satoshi Club 😊
D. | Satoshi Club, [19.02.21 13:00] Good day all! Today we having AMA with Polkabase.Finance! 🚀 @PolkabaseAdmin hi! Welcome to Satoshi Club!
Polkabase: Hello and thank you for having us! Looking forward to the AMA!
D. | Satoshi Club: Great! How are you doing today? 😊
Polkabase: Very well thank you! It has been a really hectic few days since we launched so a lot of sleepless nights!
Luis Merino 🇪🇸 | Satoshi Club: So please, as an intro, can you tell us something about yourself and what Polkabase is? 😊👍
D. | Satoshi Club: I feel you. and it’s impossible to sleep in this market. when so many things going on right now haha.
Polkabase: I have been working on the crypto development side of things since 2017 and have worked on a number of projects in the Defi space. I developed a fascination around elastic supply tokens and how they would react to targeting a price of an index fund and then developed Polkabase. As the name suggests we are an elastic supply token (or rebase token as they are now commonly known) that targets a weighted market cap of 10 projects within the Polkadot ecosystem.
Luis Merino 🇪🇸 | Satoshi Club: Yep! Market is crazy 🤯
D. | Satoshi Club: Nice! you definitely not a newbie in crypto 😄
Polkabase: Not quite an OG but definitely not a newbie!
D. | Satoshi Club: Thank you for the good intro! Are you ready to dive into the questions section? 😉
Polkabase: Yes ready!
Luis Merino 🇪🇸 | Satoshi Club: Let’s go 😉🎉
D. | Satoshi Club: Q1 from Telegram user @meml97 I read on your page that Polkabase is built on Ethereum but it allows investors to be able to obtain exposure to the Polkadot ecosystem. Could you explain how is this possible and how will this be more beneficial to investors? Why didn’t you just built Polkabase on the Polkadot Ecosystem?
Polkabase: Ethereum and the ecosystem and community it has built is the most familiar to most crypto investors whilst Polkadot is an exciting platform it is still very much in its infancy. The feedback we received through our market research is that many crypto investors wanted to be able to stay on Ethereum until the Polkadot ecosystem was further developed with Polkabase you can obtain exposure to a wide range of Polkadot assets with one simple token and without having to set up new wallets or learn new processes.
D. | Satoshi Club: So after the polka ecosystem will be fully launched – the project will be existing on two chains simultaneously?
Polkabase: The main issue with Ethereum is obviously the gas fees. Because the way our project works, once you have purchased Polkabase there are no gas fees involved in token rebases to and from your wallet. Therefore we don’t face the same problems other Defi projects are encountering in terms of their users not using their platform because of high transaction costs.
D. | Satoshi Club: True, gas fees an issue.
Luis Merino 🇪🇸 | Satoshi Club: You are right. Gas fees continue pumping.
D. | Satoshi Club: So I have to ask, what are your plans regarding to binance smart chain? 😉As we all see, more and more project prefer BSc to ethereum.
Polkabase: That is a good question. I would say that most projects still maintain an Ethereum presence. As I mentioned previously as our protocol doesn’t involve the holder having to pay any gas fees beyond purchase and sale we are not as affected by the gas fees as other projects. We also feel from a decentralized perspective that Binance doesn’t offer as much.
D. | Satoshi Club: Right, bsc is quite centralized.
Polkabase: Yes, that goes against the whole ethos of what cryptocurrencies were intended to do.
Luis Merino 🇪🇸 | Satoshi Club: Gas fees against centralization 😄 The end-less battle 😂
D. | Satoshi Club: @PolkabaseAdmin thank you for your answers! are you ready for the next question?
Polkabase: Let’s go!
D. | Satoshi Club: Q2 from Telegram user @sirdefi I would like to know what are the advantages of owning an elastic supply token whose price is linked to a basket of cryptocurrencies in the Polkadot ecosystem? Let’s also be clear that there are already many, many elastic supply tokens in the DeFi ecosystem Does PBASE have anything different or special other than being linked to Polkadot?
Polkabase: One of the things that we are currently building is a new and safer way of obtaining price feeds. We are building an oracle that will receive data from 3 different price sources and be able to ignore a particular price feed that may be outside the standard deviation. This ensures correct data is entering the contracts. The other thing about Polkabase is we want to create a whole Defi ecosystem the PBASE token is really just the start of our journey and over the coming weeks we will be offering staking rewards and sub tokens to further enhance value for the community and Polkabase token holders.
Luis Merino 🇪🇸 | Satoshi Club: Where will the oracle take the info from? Which sources?
Polkabase: Coingecko, Coinmarketcap and Livecoinwatch!
D. | Satoshi Club: Lots of interesting things ahead! and how often rebase happening? it always a particular time or you can change the time of rebasing?
Polkabase: Because crypto is affected by bad actors and also pricing sites can suffer outages it is important to have a mechanism in place to keep your protocol running. Our rebase occurs every 24 hours at 4 pm UTC.
Luis Merino 🇪🇸 | Satoshi Club: Best ones! 👏💪 Today’s one is near 😄😄
Polkabase: Yes, we have 4.5 hours to go! Yesterday, we had a very large rebase expansion and it’s looking promising for another expansion today!
D. | Satoshi Club: Thank you for the answers! Ready for the next question?
Polkabase: Yes!
D. | Satoshi Club: Q3 from Telegram user @Karoceh Are there any plans to add the use case of PBASE? We understand that the rebase token value depends on the elastic supply, but don’t you think it would be better if this token has another real use case? Like buying pizza for PBASE, maybe 😄
Polkabase: Absolutely! We are currently modeling liquidity and staking incentives for PBASE holders as well as being advanced in several partnership negotiations.
Luis Merino 🇪🇸 | Satoshi Club: Sounds really good 👀
Polkabase: Thank you!
D. | Satoshi Club: Can you give us a hint, about your future partnerships?😉
Polkabase: Watch this space because we will announce as soon we can but the goal of increasing the value of PBASE is at the forefront of our thinking.
D. | Satoshi Club: 💪💪💪 gotcha 😉
Luis Merino 🇪🇸 | Satoshi Club: Shall we jump to Q4? 😉
Polkabase: Absolutely!
D. | Satoshi Club: Q4 from Telegram user @asalas95 Solidity Finance was the company in charge of the recent audit that Polkabase Finance underwent; and from what I could read in the comments, the experience for both companies was very rewarding. Could you tell us in more detail about the results of the audit and the feedback you received from the Solidity Finance team? Why did you decide to have Solidity Finance audit your project in the first place? Thank you! And maybe you have plans to make a couple of more audits?
Polkabase: We felt it was important to have a fully audited project before raising any funds. Many protocols recently have launched with contract flaws which have resulted in significant funds lost. We chose Solidity because they have a growing reputation and provide feedback on how to improve your contracts. We found the process very useful, not just from being able to offer secure investment for our token holders but from the fact they offered improvements in our contracts particularly around gas efficiency. We will have to because of further contracts we are currently building for the growth of Polkabase.
D. | Satoshi Club: Yeah, this is very nice that you did a contract audit before the launch👍
Luis Merino 🇪🇸 | Satoshi Club: I totally agree with you. Many scams these days.
D. | Satoshi Club: btw can you share the results of the audit here?
D. | Satoshi Club: I know Satoshi clubbers very like to read audits 😄 Thank you!
Polkabase: No worries!
D. | Satoshi Club: Ready for the 5th question? 🙌
Polkabase: Absolutely!
D. | Satoshi Club: Q5 from Telegram user @garrinepotter In the roadmap, you talk about listing on CEX but subject to their ability to process the Rebase coin in their wallet infrastructure. Is this really possible? Do you have a list of exchanges that can handle this? Where is it easier to list the token technically? On CEX or DEX?
Polkabase: It is much more technically possible to launch on a DEX due to the concept of liquidity pools. Liquidity pools effectively automatically rebase the price to the target price because of the increased or decreased PBASE in the pool. I believe the only CEX that can currently handle a rebase coin is Kucoin as they list AMPL.
Luis Merino 🇪🇸 | Satoshi Club: I have no questions at all about this one 😄
D. | Satoshi Club: So Kucoin is special 😊 why other exchanges don’t follow Kucoin’s strategy? is it really that hard to make deal with rebase projects?
Polkabase: I don’t think it hard to make deals with rebase projects it is much more about the technical difficulty in listing. CEX’s don’t operate from liquidity pools but rather order books. This makes it much more difficult for them to incorporate rebase tokens within their exchanges.
D. | Satoshi Club: Yeah, it makes sense. thank you for the clarification! Ready for the final question from part 1?
Polkabase: Of course!
D. | Satoshi Club: Q6 from Telegram user @Wormz28 Most of the people’s questions during AMA are asking about the Projects strengths and what they have achieved so far. So at this moment, can we talk about weaknesses and challenges? If there’s any, what is your project’s weakness and what challenges or difficulties have you faced in developing POLKABASE and how have you overcome them?
Polkabase: A lot of people don’t understand the complexity that goes into the various smart contracts required for a rebase project. To give you an idea the audit costs nearly 3 times as much as a normal audit because of the number of token contracts and their complexity. One of the weaknesses we have which i think a lot of projects have is being able to keep up with the demands in Defi the constant developments and innovation. We don’t have hundreds of developers and office staff to work as fast as the ideas we are generating.
Luis Merino 🇪🇸 | Satoshi Club: How big your team is? Also, do you work remotely or have an office?
Polkabase: We have a team of 5 including our core admin team.
D. | Satoshi Club: For me rebase projects are the most complex in crypto, so i think it’s not easy to make a good one 👍
Polkabase: I think in 2021 most crypto projects work on a remote basis whilst we do all live in near proximity for team meetings we generally work in our own spaces.
Luis Merino 🇪🇸 | Satoshi Club: You are right. Great! Thank you for your answer.
Polkabase: No worries!
D. | Satoshi Club: Thank you for the answers in part 1! @PolkabaseAdmin we will open chat for 2 minutes after chat wil be closed – you can start select questions from Satoshi Сlub members! 😇
Polkabase: Got it!
Luis Merino 🇪🇸 | Satoshi Club: So, are you ready for a huge bunch of questions?
Polkabase: Let’s do it!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Saif Mahamud
@PolkabaseAdmin What are the major milestones Rebased achieved so far & what are in future pipeline?
Polkabase: Thanks Saif. Major achievements so far have included the audit, the fully working protocol, a pre sale sold out in 20 seconds and a growing community and holder list! We have also updated our website and dashboard. Coming soon rebase calculator and the launch of further incentives to invest and to hold PBASE.
Q2 from Telegram user @ Karoceh
To get a positive rebase, i think it is very important to encourage PBASE holders to keep holding their tokens. What is the strategy to encourage them for keeping PBASE tokens?
Polkabase: That is a very good question. Most people including those who actually buy rebase tokens don’t understand their mechanics. A rebase causes no loss or gain in value at the point of rebase. The value is obtained by having an increasing token supply. We will be launching staking rewards as soon as possible to encourage PBASE holders to stake their tokens and gain more financially.
Q3 from Telegram user @ Topind
Who are the specific people this Polkabse project is for, who are your audience, is it for newbies in crypto space, individual investors, and institutions who are lookin to invest?
Polkabase: I think one of the advantages of PBASE is that it is of interest across the whole spectrum of investors. Newbies find an easy way to gain exposure to Polkadot and it’s ecosystem on the Ethereum chain, it is technically advanced for the more experienced investor and it can attract institutions by not requiring active investment management.
Q4 from Telegram user @ Tuvalunia
How will integrating Chainlink oracles help to Polkabase system?
Polkabase: Someone had a look at our roadmap 😉 Right now the price information we require is not available as a Chainlink source. This is something that we are working on in the near future.
Q5 from Telegram user @ o0s$a4l
According to your roadmap in Q2 you will integrate the Chainlink oracle, what benefits will that have for the project? @PolkabaseAdmin
Polkabase: The benefit is an even more secure price source!
Q6 from Telegram user @ Boylut
Earlier above you said you target the weighted market cap of 10 projects within the Polkadot ecosystem, why target 10? And, could you list this projects for us? @PolkabaseAdmin
Polkabase: We chose 10 because we felt it gave an accurate representation of a variety of projects at different levels of marketcap! The 10 projects are, DOT (at 5% MC weight), XOR, ANKR, EDG, POLS, XRT, OCEAN, FIS, AKRO, RFUEL.
Q7 from Telegram user @ Rajashree
I want to know more about team motivation towards project and commitment cause many project gets abandoned. @PolkabaseAdmin
Polkabase: Polkabase is the teams sole focus and we are all working full time on the project. We really feel this has the potential to have a large Marketcap and we also enjoy building value for token holders and of course ourselves over the coming years.
Q8 from Telegram user @ Leo
Hello!@PolkabaseAdmin Before I buy your tokens I would like to ask why are you anonymous and how do you gurantee us it will not rugged pull?
Polkabase: Well first of all we have fully audited smart contracts, secondly we carried out our pre sale on Unilock so that the locking of liquidity was guaranteed before any funds were raised. We currently have locked 1.5 million dollars of liquidity and this can not be removed. Therefore it is isn’t possible for us to rug pull. We are anonymous because we want to create a decentralised ecosystem, and the whole purpose of decentralisation is that there is no single source of power.
Q9 from Telegram user @ Capt_Star1
What are your thoughts on NFTs and it’s marketplace? (Got something for NFT lovers?) @PolkabaseAdmin
Polkabase: NFTs have really become a by word for digital art but in fact there real use cases will be in many other fields.
Q10 from Telegram user @ CRYPTONECO
For Polkabase, what will be the most important development you plan to make in the near future? What is the most attractive stage of your roadmap?
Polkabase: I would say i think it is important in Defi to constantly evolve with new developments. If we look back to 2018 master nodes were very exciting, now they are of no importance. We have a lot of developments coming up over the next 60 days such as staking and earning of a sub token but it is quite likely in 6 months time that there are new developments in the defi space that will be important additions to the Polkabase ecosystem!
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
PART 1. Introduction of Bear Games project and community questions.
Hello, Satoshi clubbers and guests of this site. We are happy to present you with an NFT gamified project. Bear Games envisions itself to be the biggest DEFI, a Cryptocurrency gaming platform for online entertainment and launching multiple blockchain-based games.
Mary | Satoshi Club – @madamlobster and Gold Rocket | Satoshi Club – @GoldRocket27
The Representative of the project:
PAW Captain – @PawCaptain – Junior Holmes, a Co-founder of the Bear Games Platform.
NFTs chef 👨. It’s not a sprint. It’s a marathon. Won’t try to scam you.
Capt Jude | Beargames.io – @CaptJude – Jude. The Co-founder of the Bear Games.
It’s not just a job, it’s an Adventure.
Introduction of Bear Games project.
Mary | satoshi club:
Hello, satoshi club! We are happy to announce our ama session with bear games! Welcome to satoshi club😀
Gold rocket | satoshi club:
Good evening, dear community!
We conclude our today’s exciting ama marathon series with bear games.
Gold rocket | satoshi club:
Hi there😁👋
Paw captain: 👨✈️
Hi guys, am nice to be here to answer your questions 🙂
Mary | satoshi club:
Hello! Happy to see you here!
Capt jude | beargames.io:
Thanks for the invite! 😎
Gold rocket | satoshi club:
Hello, 👋 nice to meet you😁 welcome to Satoshi club.
Mary | satoshi club:
Will we have a bear party today?😂 bear party on the bull market 😂
Gold rocket | satoshi club:
Good comparison 😁
Paw captain: 👨✈️
We bring in the biggest type of bull party called bears😅
Mary | satoshi club:
Sure😂 Let’s start then🚀
Gold rocket | satoshi club:
@captjude @pawcaptain thanks for joining!
Mary | satoshi club:
First of all, please, introduce yourself and tell us how did you start with bear games 😉
Paw captain: 👨✈️
Hi, my name is junior holmes, a co-founder of the bear games platform. Like my partner rightly said, we are in the process of seed funding a multi-chain startup gaming platform. My partner and i both have experience with crypto and gaming Dapps on the blockchain. Both of us worked for gaming Dapp platforms and running our initial Dapps platform during the gaming Dapp season on Tron (2018 – 2020) and raking reasonable volume. We want to leverage the growing hypes around NFTs while implementing a new “games and gains” model via DeFi gaming NFT Dapps.
Mary | satoshi club:
Interesting decision 😉
Capt jude | beargames.io:
Hi, my name is Jude, and I’m the co-founder of the bear games, a gaming ecosystem. We’re developing some innovative DeFi+NFT gaming platforms.
Gold rocket | satoshi club:
Well this is very reasonable, use hype to promote
Mary | satoshi club:
Great! Tell us more about your platform 👍
Paw captain: 👨✈️
Sure. Bear games envision itself to be the biggest DeFi and cryptocurrency gaming platform for online entertainment. Bear games will keep launching multiple blockchain-based games to innovate and disrupt itself while offering players several means of earning cryptocurrencies, termed “gains.”
Games and gains model features a sustainable play to earn principle that issues a share of revenue as dividend tokens to its VIP paw NFT (non-fungible tokens) holders rather than using play to mine model where players of the platform get saturated. The bear games team sees the promising future of non-fungible tokens, and they haven’t reached their full potential on the blockchain.
To make NFTs a truly important part of the DeFi gaming economy is to ensure that they can generate rewards in form of fungible tokens for their holders. With the help of metadata stored in the VIP paw NFT cards, the bear games gaming contract can keep track of the player’s cost of entry making sure the player can earn enough to recoup their cost of entry plus some additional ROI after which it cuts them off for the sake of sustainability.
Gold rocket | satoshi club:
Sounds good.
Paw captain: 👨✈️
Yes 👍
Mary | satoshi club:
You find an interesting way of NFT usage!
Paw captain: 👨✈️
Sure, we are leveraging on a new NFT sector growing called DeFiNFTs.
Mary | satoshi club:
Can’t wait to see this all go live 😉
Paw captain: 👨✈️
Sure, we are glad to be working this route changing the narratives for NFTs.
Gold rocket | satoshi club:
Thanks for the intro! Ready for community questions? 😉🚀
Paw captain: 👨✈️
Waiting on this will love to answer the community.
Preselected questions about the Bear Games DeFi project.
Mary | satoshi club:
Q1 from telegram user @romadel33
What inspired you to establish a bear as an icon? What does it mean or what is hidden behind this symbolism? What do you hope to convey?
Let’s start with 🐻
Capt jude | beargames.io:
The bear games idea wasn’t a game, it’s was just a narrative that was written by a navy captain. 👨✈️
My other captain can elaborate on this.
Paw captain: 👨✈️
Well, the name “bear” was inspired by nelson’s artic voyage – the royal navy’s first polar expedition.
Mary | satoshi club:
Wow🙂 It was in 1773😉 Ok, guys, I see that we will have a long voyage with bears in this amazing market! I think you have everything for it to be successful! 😀
Paw captain: 👨✈️
Yes, he had famous encounters with a polar bear. Anyways, for the most part, it was as a result of I and my partners crave for the royal navy, the bear as an animal, and lastly, our experiences with the navy. The bear symbolizes strength and courage. You know a gamer must be courageous and persistent in gaming.
Mary | satoshi club:
Oh, I see a deep sense👍
Gold rocket | satoshi club:
Do you want to add something or can we proceed to the next question?😊
Paw captain: 👨✈️
Fo sho.
Gold rocket | satoshi club:
Q2 from telegram user @pratze
Your gaming system is interesting but do player possible to get NFT inside the game? Or it’s only available from sale and trading NFT? Do your game possible to play by free player?
Paw captain: 👨✈️
Only from our initial NFT offering can you acquire the platform’s primary NFTs called the “VIP paw cards”.
After the sales, you can get it from open NFT marketplaces like Rarrible and OpenSea.
We will be partnering with DeFiNFTs platforms like NFTx and NFT20.io that allow the NFTs holders to fractionalize their VIP paw NFTs and convert them to tradeable erc20s.
Mary | satoshi club:
Did you already discuss with some platforms your future partnership?😉
Capt jude | beargames.io:
Sure, we have lots of influencers on board already. We are also conversing with coin telegraph and some other crypto websites to push our adoption.
Mary | satoshi club:
Great! Waiting for an announcement from you!
Capt jude | beargames.io:
Will the card be available for trading outside the ecosystem?
Answer- the VIP card can be sold by any player that’s not interested in the game.
Do you have a game possible to play in free mode without NFT?
Answer – no.
Paw captain: 👨✈️
We will open the beta test version of the bear games first gaming Dapp on testnet post into sales. No final eta on a date yet.
Mary | satoshi club:
So, if I won’t have NFTs your platform won’t be available for me?
Paw captain: 👨✈️
There are some games exclusive to the VIP paw cardholders and bear games’ first gaming Dapp (bear navy vs. Pitate Dapp) is included.
You can check out platform primary tokens infographics below;
Mary | satoshi club:
Got it, 👍
Mary | satoshi club:
Thanks for your answers, guys! Ready to proceed?
Paw captain: 👨✈️
Fo sho!
Gold rocket | satoshi club:
Q3 from telegram user @lzamg
You mention that one of the goals of bear games is the implementation of cross-chain, because of the high fees and overloaded Ethereum chain. So can you tell us how you plan to integrate bear games to Binance smart chain and Polkadot? When will this integration start?
Capt Jude | Beargames.io:
Mary | satoshi club:
Nice incentives 🙂
Paw captain: 👨✈️
Bear games platform will run on the Ethereum network. The compulsory requirement for cross-chain integration is to deploy the same product on otherEthereum based blockchains, Binance smart chain in bear games’ case.
Binance smart chain (BSC) integration will happen after the initial NFT sales on Ethereum. We built our first Dapps for both Ethereum and BSC chain.
Mary | satoshi club:
Did you already test your Dapp?
Paw captain: 👨✈️
Dapp not launched after development it will go through external audits with external auditors. But the team runs economic and profitability tests on our Dapp ideas using machinations.io the game simulation environment.
I can tell you that for our first Dapp, simulation, our conclusion was the chest on the VIP paw cards will close very rapidly and those who try to cheat the system will indirectly and subconsciously fund the open chest.
Mary | satoshi club:
Gotcha 👍 wish you successful testing and audit passing 😉
Capt jude | beargames.io:
I will encourage you to go through our blog as regards our multi-chain realities
Oh, great! Thanks for sharing! Sure it will explain a lot for our users
Ready for the next question?
Gold rocket | satoshi club:
Q4 from telegram user @gutike95
I understand that bear is listed on Uniswap, but will it only be available on DEX? Or do you plan to list it on CEX soon?
Paw captain: 👨✈️
It will be listed automatically on Uniswap by the Unicrypt contract, the sales will be done on Unicrypt.
For centralized exchange listing, of course, will be writing to them post initial NFT offering presale.
Mary | satoshi club:
Btw, what about your contracts audit?😉
Capt jude | beargames.io:
Yeah, our contract is audited and the report can be found in this doc https://bit.ly/3td59ym
Gold rocket | satoshi club:
Safety first👍 Everything is clear to me. Thanks for the answer! Ready to jump to the next question?
Paw captain: 👨✈️
Yes.
Gold rocket | satoshi club:
Q5 from telegram user @auguss7
Gaming platforms always develop games with esports, will bear games have games with them and any other kind? Or will they all be totally innovative that we still don’t know about it?
Paw captain: 👨✈️
Esports, a sector we will like to explore in the future. Competitive video gaming is a sector we are of course exploring and will announce as we innovate in that dimension.
Mary | satoshi club:
So, your first games will be innovative?
Paw captain: 👨✈️
Fo sho, the first gaming is a gamified certificate of deposits, using the VIP paw card to store player’s rewards as gold tokens and therefore the NFT can be considered a DeFiNFT. The game interacts with an AMM, Uniswap for eth, depending on the chain.
Mary | satoshi club:
Awesome! 🎉
Paw captain: 👨✈️
I don’t think there is anyone or project gamifying the concept of storing erc20s in NFTs.
Mary | satoshi club:
I haven’t heard about this before😉 So, guys, are you ready for the 6th and last question from this part?🚀
Paw captain: 👨✈️
Yes.
Gold rocket | satoshi club:
Q6 from telegram user @highpee
$bear token is an erc20 token, not mintable, and has a fixed supply of 1,000,000 $bear but this is different from your second game token, $gold, which is also an ERC-20 token but is mintable and have an unlimited supply. What is the rationale for using these two opposite approaches for the tokens of the same project? How are these tokens different in terms of their usability and application within the bear games project? Also, I read that the gold token has a precision of 10 and that if I own 1 gold token, I am holding 10^10, the smallest unit of the gold token. What does this mean?
Paw captain: 👨✈️
There are 2 main platform tokens and the gold tokens are primary to the first gaming Dapp “bear navy vs. Pirates”. It is the reward token of that game. The game pays out 125% ROI to those who mint gold chest on their VIP paw NFT cards.
Mary | satoshi club:
This will be the only usage for gold tokens?
Paw captain: 👨✈️:
Gold will be pretty Expensive if you understand the game.
Mary | satoshi club:
If it will get enough users, right?😉
Paw captain: 👨✈️:
The use case is the game itself. Paw operatives’ savages gold tokens from the pirates already for paw veterans.
Mary | satoshi club:
Oh, sure🙂 got it! Thank you for your answers guys! Are you ready to start with the live part?🙂
Paw captain: 👨✈️:
It will have enough users, the task we will have is to school peeps, the team has a strategy to achieve this, we are not new to gaming Dapps on eth, Tron and BSC chain 🙂
Gold rocket | satoshi club:
Thanks, guys!
Capt jude | beargames.io:
The bear is a governance token used to make changes and updates to the bear games platform. The governance system is a token permission governance system powered by collab.land on telegram.
Paw captain: 👨✈️:
The bear token is a governance token.
Mary | satoshi club:
Great visualization 👏
Gold rocket | satoshi club:
Well! Captains! Are you ready for a storm of questions? @pawcaptain @captjude 😉
Mary | satoshi club:
You will have 120 seconds coffee break and then you will need to choose 10 questions and answer them😉
Paw captain: 👨✈️
Great, nice up to the task.
We will discuss, the gold token post-sales; it won’t be sold or premined for the team. Gold can only be acquired by playing bear navy vs. Pirate Dapp or through an AMM.
Mary | satoshi club:
Oh, in simple words users can earn it, right?
Paw captain: 👨✈️
Yup 😀
Mary | satoshi club:
So simple! Gotcha 🐻 so, we will go to the live level now! Let’s go 🚀
PART 2.Questions about the Bear Games 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 Bear Games 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 @highpee
Hello Bear Games 🐻🐻
Your first Game is BEAR NAVY Vs Pirate (BVP) and to enter this game, players must own at least one VIP PAW NFT CARD. But only 1000 VIP PAW NFT CARDS will be made available during the Initial NFT Offering at the rate of 1 CARD to 0.5 Ethereum. What do I stand to benefit if I use 0.5 Eth (almost $900 + gas expenses) to buy an NFT card to play a game?
PAW Captain 👨✈️:
Answers: Group unmuted. Hi, you will get two tokens. The initial NFT offering is a dual tokensale, hence a 2-way gain possibility.
You will get an ERC20 token and an ERC721 token. Technically you are not buying only the NFTs.
The VIP PAW NFT Card entitles you to 10% of all revenue from all Bear Games’ gaming Dapps.
Plus, a tip, partnerships with nftx.org and nft20 platforms to fractionalize platform NFTS will present an exit strategy.
The first gaming Dapp will be profitable. That is what will force the demand.
Q – 2 from a telegram user @Miles_vitalik
Can you tell us how you plan to prevent your user from the current high gas issue in Ethereum and how fast are you moving to another blockchain? Thx.
Capt Jude | Beargames.io:
As regards this, our game will be available on Ethereum and Binance Smart Chain upon launch, with this option, players can participate in the game on BSC if they can’t afford the gas fees on Eth chain.
Plus we issuing a 10% bonus on bear tokens as a gas bonus to mint NFTS.
Q – 3 from a telegram user @K2ice
I just want to ask when there will be an airdrop for the $BEAR token. Am really interested in getting the token. Thanks?
PAW Captain 👨✈️:
No future airdrop planned.
Q – 4 from a telegram user @leixagarcia
Apart from Bear Navy vs Pirate what other games do you plan to develop? Will they all be bear-related? Any others for this year?
PAW Captain 👨✈️:
Social media-based games to be precise to fast track adoption. We considering, MMO strategy games e.t.c.
Q – 5 from a telegram user @Zeus_buterin
How will you keep the token price-stable with your current token supply?
Capt Jude | Beargames.io:
The price of our assets will be determined by the current Supply and Demand.
Q – 6 from a telegram user @vedamatrix
For the projects also the high liquidity also required in order to get more investments into the project. How can you solve the liquidity problem?
PAW Captain 👨✈️:
Bear token Liquidity providers will be able to farm more Bear after the sales. It’s a strategy to generate liquidity for the Bear token.
Q – 7 from a telegram user @cryptoflower13
What is the Injury Insurance Pool, what is its function, why does it receive 1/4 of ETH that is paid into the game?
PAW Captain 👨✈️:
The Injury Pool on the VIP PAW NFT Cards there is an incentive for players (paw veterans) to enter the game even if the GOLD savaging were to become slow. It is a lottery and 1/4 of the ETH entering the contract in each 2 field bays is distributed to two winners, yes that shit load of money!
Q -8 from a telegram user @Directoroptix
Thanks for this opportunity is the BEAR platform going to run with a kind of threshold on buying and selling of NFT’s?
Capt Jude | Beargames.io:
There are only 1,000 VIP PAW cards in circulation and no more NFT will be minted on Ethereum. We will surely mint them NFT’s on BSC when the need arises.
Q – 9 from a telegram user @tuvalunia
Will the GOLD token have any connection with real gold? Why did you select that name?
Capt Jude | Beargames.io:
😹 No real connection just the game storyline
Q – 10 from a telegram user @Kpopcy
How will you ensure the platform doesn’t end up being a “Whales Only” platform?
Capt Jude | Beargames.io:
By launching on the Binance Smart chain we are ensuring that in the long run, the Bear Games platform doesn’t end up being a “Whales” only platform.
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the Bear Games 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.
