We are pleased to announce our next AMA on February 17th 2021 at 11:00 AM UTC Time: Satoshi Club x GeoDB

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

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

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. GeoDB Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about GeoDB

For more details:
GeoDB – @GeoDBgroup
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 Polygon (previously Matic) and our guest was Arun Philips – lead many of the Marketing and Community initiatives at Polygon (previously Matic Network). The AMA took place on 14 February.

The total reward pool was 500$ and has been split into 3 parts.

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

Part 1 — introduction and questions from the Website

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Polygon (previously Matic)! Welcome to Satoshi Club😀

D. | Satoshi Club:
Hello all! 👋

D. | Satoshi Club:
We are welcoming our guest – @arunphilips! 🚀🚀🚀

Arun Philips:
Hey everyone! It’s a pleasure to be here, with one of the biggest clubs in crypto!

D. | Satoshi Club:
Welcome to Satoshi Club! 😇

D. | Satoshi Club:
Hello! good to have you here! 🤩

Mary | Satoshi Club:
We are happy to see one of the biggest crypto projects here as well🚀

Arun Philips:
🙌🙌

Mary | Satoshi Club:
Arun, could you please introduce yourself and introduce Polygon to our members 👍 sure, we have newcomers among them😉

Arun Philips:
Definitely.

Arun Philips:
Definitely. My name is Arun Philips, and I lead many of the Marketing and Community initiatives at Polygon (previously Matic Network).
I bought my first Bitcoin in 2016 and from then it’s been a roller-coaster journey of learning and building, with many decentralized projects and a lot of research.
I’ve been actively involved in building Blockchain and Startup communities in India and globally, and our global Matic community is one I’m super proud to help grow!

D. | Satoshi Club:
Do you still hold that Bitcoin from 2016?😉

Mary | Satoshi Club:
I see that buying Bitcoin turn on some magic and people involved in crypto after this 😂

Arun Philips:
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 90+ Dapps, ~7M txns, and ~200K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here (https://docs.matic.network/docs/develop/getting-started/).
Website (https://polygon.technology/) | Twitter (https://twitter.com/maticnetwork) | Reddit (https://www.reddit.com/r/maticnetwork/) | Telegram (https://t.me/maticnetwork)

Arun Philips:
Haha yup and not selling anytime soon 😉

D. | Satoshi Club:
Wow, I envy your grip😄

Mary | Satoshi Club:
We continue to hear Polygon (previously Matic) almost every time a new project come here😉

Arun Philips:
Yes! Adoption is our biggest focus, we have 80+ Dapps onboard, 6M+ txns so far, and some of the biggest names in the space including Aavegotchi, Polymarket, EasyFi, and SportX building on Polygon!

D. | Satoshi Club:
Yes, it’s true. lots of different projects talking about Matic on AMAs in Satoshi club 😊

Mary | Satoshi Club:
Neon District😉 and yes! A lot of things already done and as i see a lot of incoming!

Arun Philips:
That’s another big one too, you know Polygon quite well 😄

Mary | Satoshi Club:
Thank you for your introduction, Arun! We prepare some questions for you from our community 😀 Do you want to start with them or you want to add something?)

Mary | Satoshi Club:
Yes, I am trying to stay tuned 😉

Arun Philips:
I think just one thing I want to add.

Mary | Satoshi Club:
Sure👍

Arun Philips:
If there’s one thing you guys take away from this AMA about Polygon, just remember this: Polygon is focused on scaling Ethereum and bringing Blockchain to the next million users! (Without the need for ETH-Killers 🙂)

Mary | Satoshi Club:
It’s perfect 🚀 we really appreciate everything you’re doing 👍

D. | Satoshi Club:
🚀 thank you for the great intro! let’s goooo! 🚀

Q1 from Telegram user @chzrles
Usually, when a rebranding is carried out it is because small problems have occurred, be they internal, legal, the project does not stand out, or simply because it is not attractive enough for users. In this case, what were the reasons that you decided to rebrand Matic to Polygon? Also, is this rebranding still ongoing or has it already been fully done?

D. | Satoshi Club:
This is was the most popular question😄

D. | Satoshi Club:
Indifferent forms😉

Arun Philips:
The reason for the rebranding was to include our wider focus and mission of scaling Ethereum.
Under the new paradigm, Matic’s Hybrid POS+Plasma chains are one integral part of the whole Polygon scaling ecosystem, but the ecosystem also includes top approaches like ZK-Rollups, Optimistic Rollups, and other solutions.
What’s important to note is the rebranding is not a simple logo or legal change, it is a purposeful change to develop the most powerful scaling solution for Ethereum and Blockchain!
We’ll continue to grow our technology and onboard some of the biggest DAPPS in the space. Stay tuned this week 👀👀

D. | Satoshi Club:
Will rebranding affect your tokenomics as well? what will happen with tokens? Will total supply can change?

Arun Philips:
No changes to the token.
All the existing Matic solutions and implementations, primarily Matic PoS Chain and Matic Plasma Chains, REMAIN FULLY FUNCTIONAL and will continue to be developed and grown as very important components of the Polygon ecosystem.
These implementations will not be impacted or changed in any way, and NO ACTION IS REQUIRED from developers or end-users.
With Polygon we are just expanding the suite of solutions we want to offer to the community, and all the existing solutions and implementations will continue to exist and operate as integral parts of this extended platform.
In this new paradigm, the $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.
The founders and the Matic Network team will all continue to work in an unchanged way under the new brand.

Mary | Satoshi Club:
Yes, I see that Matic Plasma, zk Rollups, etc are coming soon😀 do you have more definite terms for this?😉

D. | Satoshi Club:
👍👍👍

Arun Philips:
Our research teams are not only actively working on solns like ZK and OR, but also some other exciting stuff in data availability and cross-chain L2 interoperability.
Can’t release fixed dates yet, but follow us on https://twitter.com/maticnetwork and promise you guys will be the first to know!

Mary | Satoshi Club:
We want to be the first😂 Satoshi Club likes news🚀

Mary | Satoshi Club:
We will follow your updates!

Arun Philips:
Then there’s a lot in store for you guys from Polygon 😄

Mary | Satoshi Club:
Ready to proceed? Or you want to add something?

Arun Philips:
All good, let’s go!

D. | Satoshi Club:
Thank you for the answers!

Q2 from Telegram user @rioliandaro
Polygon is effectively turning Ethereum into a complete multi-chain system (aka Internet Blockchain). This multi-chain system is similar to Polkadot, Cosmos, Avalanche, etc. What is the difference? since there are many layer-2 projects dealing with scalability issues, what is Polygon’s main competitive advantage?

Arun Philips:
Three major advantages I want to highlight.
1. Polygon is able to fully benefit from Ethereum’s network effect. This is because it is built as an integral part of the Ethereum ecosystem, while the aforementioned projects are competing ecosystems built from scratch.
2. It is inherently more secure. Polygon uses Ethereum, the most secure and battle-tested programmable blockchain in the world, as the economic hub and source of security, while the competing projects use recently launched and less expressive chains for this purpose.
3. It is more open and powerful, primarily in terms of architecture types it can support. This is because (1) Polygon is built on Ethereum, so it can trivially incorporate basically any scaling or infrastructure solution from the Ethereum ecosystem, and (2) we fully adopt Ethereum’s ethos of open innovation and we designed Polygon with it as one of the main design goals.

Mary | Satoshi Club:
Do you cooperate with Ethereum team?😀

Arun Philips:
I believe this part is important to stress We fully adopt Ethereum’s ethos of open innovation and we designed Polygon with it as one of the main design goals.
With that being said we have some of the top researchers in Ethereum working Polygon, and many of our team members including Mihailo Bjelic and Jaynti Kanani, our CEO our long Ethereum researchers and developers, having contributed to many critical Ethereum network updates.
We also have top advisors from the ETH ecosystem like Ryan Sean Adams, Hudson James, John Lilic, and Anthony Sassano.

Mary | Satoshi Club:
I see, that really impress, Ethereum is a king😀 btw, are you ready to provide L2 solutions for another platforms in the future if needed? I see some platforms are going to be overcrowded also soon😂

Mary | Satoshi Club:
Or you plan to develop only in Ethereum direction?

Arun Philips:
Right now, we’re focused on Ethereum! We don’t see the need for other ETH-Killers when a secure and battle-tested Ethereum can be scaled for mass adoption.

Mary | Satoshi Club:
I got it😂 when you remind about “ETH-Killers” i can’t stop smiling 😉

Arun Philips:
Hahaha you get it!

Mary | Satoshi Club:
Thank you for your answers 👍 ready for the next?

Arun Philips:
Yes I’m ready 🙂

D. | Satoshi Club:
Let’s do this! 🚀

Q3 from Telegram user @Gutike95
Could you really give us more detail about the “Adapter modules”? What are its functionalities and how does it help in the compatibility of ETH with other projects?

Arun Philips:
Great Q!

Arun Philips:
Adapter Modules are part of a number of auxiliary solutions and products which will extend Polygon functionalities, improve the developer experience and introduce support for specific use cases.
These are basically adaptors that will let you interact with external blockchain networks.

D. | Satoshi Club:
So it’s a tool for developers? can we say that?

Arun Philips:
Yes it will be part of the SDK for devs to use.

D. | Satoshi Club:
Cool, I think techies will be happy 😁

Mary | Satoshi Club:
How this tool’s usage affects the lives of ordinary people, as me and @Cool_as_Ice?😉

Arun Philips:
Devs will make sure that you guys have the best Blockchain experience!
Already the team at Quickswap has built an incredible DEX with liquidity farming, that has almost zero txns costs and super-fast speeds with more than 1000% APY!
Better tools for devs, a better experience for you!

Mary | Satoshi Club:
Thanks, Arun!

D. | Satoshi Club:
Wow, I wanna try this DEX

Mary | Satoshi Club:
We should definitely try this)

Arun Philips:
Quickswap.exchange

Mary | Satoshi Club:
We will try in the nearest time😉

Arun Philips:
Trust me you’ll stop using Uniswap after this 😂

D. | Satoshi Club:
Thank you!

Mary | Satoshi Club:
In my saved😂

Mary | Satoshi Club:
Ready for the next question?😀

Arun Philips:
Yepp, let’s go!

Q4 from Telegram user @Arisabela
Many projects are already using Polygon architecture, I’ve seen most of them are related to in-game and NFTs features, how does Polygon can integrate into these kinds of platform and make them successful? Is Gamified DeFi one of your core areas?

Arun Philips:
Yess! Games + DeFi + NFT is a big part of our gang of Dapps at Polygon.

Arun Philips:
We have had some incredible Dapps like Aavegotchi, Megacryptopolis, Neon District, Zed Run that are doing such incredible stuff with DeFi and NFTs on Polygon!
That ecosystem is massively growing, there’s a BIG NFT related news coming soon 😉 😉

Mary | Satoshi Club:
You collected almost all hype things😂

Mary | Satoshi Club:
BIG NFT?😂 My alerts are turned on😂

Mary | Satoshi Club:
Which another areas you see as most potential in crypto?😉

Arun Philips:
We expect great things from Personal Tokens, DAOs, DeFi, NFT, and Gaming! There will be a ton of awesome projects from these sectors.
Apart from that, we have many interesting projects with enterprises, governments, and other real-world use cases that we are extremely proud to be a part of!

Mary | Satoshi Club:
Amazing! Your journey just started 🚀

Mary | Satoshi Club:
Thanks! Can we jump to the next question or you want to add something?

Arun Philips:
Just this cool CT article! https://cointelegraph.com/news/matic-rebrands-to-polygon-in-pursuit-of-polkadot-on-ethereum-strategy?utm=twitter

Arun Philips:
Let’s go 🙂

Mary | Satoshi Club:
Nice👍

Q5 from Telegram user @yellowchamp
As part of the Unifarm Cohort 2 together with Oro Pocket, Nord Finance, Terra Virtua, Router Protocol, and ZeroSwap Labs, can you tell us what is the main objective of this collaboration with different networks? How does staking method with Unifarm Cohort 2 works especially with Polygon network? How much would be the APY and minimum to stake? How many days or weeks or months is the locked-in period? I have read on Twitter that some people are commenting about high gas fees regarding staking to some network, so as one of the cohort, how does Polygon(former Matic Network) will help to solve gas fee problems and attract more people to join Unifarm Cohort 2 staking? Thank you.

Arun Philips:
Unifarm is a super cool project where you can stake one token and farm five tokens!
There should be some updates soon to solve the gas fee problem 😉
Learn more here https://blog.oropocket.com/how-to-use-oropocket-platform/a-step-by-step-guide-on-how-to-stake-on-unifarm-cohort-2/ s=21

Mary | Satoshi Club:
Btw, I wanted to ask you, do you have customer support? Sorry, a bit offtopic)

D. | Satoshi Club:
Thank you, for the new opportunities to get more tokens 😄👍I will read this as well.

Arun Philips:
Wallet support here: https://wallet-support.matic.network/

Arun Philips:
Awesome!

Mary | Satoshi Club:
Thank you!

Mary | Satoshi Club:
We love farming😉 will read this article👍

Mary | Satoshi Club:
Ready for the 6th and last question from this part?

Arun Philips:
Yes let’s do it 🚀

Mary | Satoshi Club:
It’s my favorite 😂

Q6 from Telegram user @cryptofollower
Polygon aims for a world in which people and machines collaborate exchange value globally and freely. So how do you plan to do that? For example, do you support the chips integrated into human skin?

Arun Philips:
Community is one of the strongest pillars Polygon stands on!
Join our global community here: https://t.me/maticnetwork
Twitter: https://twitter.com/maticnetwork?s=21
We have communities in regions across the world, and we have an active ambassador program called Matic Mitras who are our strongest supporters 🙂 you can apply for Matic Mitra here: https://matic.network/matic-mitra/

Mary | Satoshi Club:
So, no chips just communities?😉

D. | Satoshi Club:
I wanted to ask the same 😄

Arun Philips:
Couldn’t have put it better myself! Focus on the communities, collaboration will happen by itself 🙂

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Gutike95
Do you mention that “Many projects are exploring ETH-compatible blockchains”, but aren’t each chain really totally independent and unsupported? If not, what are the characteristics that these chains must have to be compatible with ETH?

Arun Philips:
Compatibility with ETH means 100% EVM compatibility, like solutions on Polygon support.
This means you can deploy Ethereum apps onto Polygon solutions without any changes to your code!

Q2 from Telegram user @AugusS7
You mentioned that “Polygon combines the best of Ethereum and sovereign blockchains into an attractive set of features”, but really which set of features are you referring to? And this will require assuming the cost rates of both chains?

Arun Philips:
Three major advantages I want to highlight.

1. Polygon is able to fully benefit from Ethereum’s network effect. This is because it is built as an integral part of the Ethereum ecosystem, while the aforementioned projects are competing ecosystems built from scratch.
2. It is inherently more secure. Polygon uses Ethereum, the most secure and battle-tested programmable blockchain in the world, as the economic hub and source of security, while the competing projects use recently launched and less expressive chains for this purpose.
3. It is more open and powerful, primarily in terms of architecture types it can support. This is because (1) Polygon is built on Ethereum, so it can trivially incorporate basically any scaling or infrastructure solution from the Ethereum ecosystem, and (2) we fully adopt Ethereum’s ethos of open innovation and we designed Polygon with it as one of the main design goals.

Q3 from Telegram user @AmirJosh
What is the story behind the rebranding of the name from Matic to Polygon? Do the change of name brings new ideas that will affect the roadmap of the platform and a new whitepaper might be release soon?

Arun Philips:
The reason for the rebranding was to include our wider focus and mission of scaling Ethereum.
Under the new paradigm, Matic’s Hybrid POS+Plasma chains are one integral part of the whole Polygon scaling ecosystem, but the ecosystem also includes top approaches like ZK-Rollups, Optimistic Rollups, and other solutions.
What’s important to note is the rebranding is not a simple logo or legal change, it is a purposeful change to develop the most powerful scaling solution for Ethereum and Blockchain!
We’ll continue to grow our technology and onboard some of the biggest DAPPS in the space. Stay tuned this week 👀👀
Check out the Polygon light paper here: https://polygon.technology/lightpaper-polygon.pdf

Q4 from Telegram user @bathulosnom
Besides the global Community do you have local communities for local users who don’t understand well English? If yes how can I join?

Arun Philips:
#Community #Giveaways
Join your Local Community Today!
🌍 We’re extremely proud of our local communities all over the world – Polygon is secured and enabled by each one of you.
🎉 We’re doing exciting giveaways, contests, and events in our communities across the world!
Look for your region below 👇
🇮🇳 India and SAARC: https://t.me/maticnetwork_india
🇺🇸🇦🇷 Americas: https://t.me/maticnetwork_america
🇬🇧🇪🇺 Europe and UK: https://t.me/maticnetwork_uk
🇲🇦 🇦🇪🇸🇦 Arabic: https://t.me/maticnetwork_arab
🇪🇸🇦🇷🇲🇽 Spanish: https://t.me/maticnetwork_spanish
🇦🇺🇳🇿 Australia and New Zealand: https://t.me/maticnetwork_anz
🇷🇺🇺🇦 Russian – https://t.me/maticnetwork_russia
🇩🇪🇦🇹🇨🇭 German: https://t.me/maticnetworkgerman
🇨🇳China: https://t.me/maticnetwork_china
🇮🇩Indonesia: https://t.me/maticnetwork_indonesia
🇹🇷Turkey: https://t.me/maticnetwork_turkish
🇱🇰 SriLanka: https://t.me/maticnetwork_srilanka
🇳🇱 Netherlands: https://t.me/maticnetwork_netherlands
🇰🇷 Korea: https://t.me/Matic_network_Korea
🇳🇬 Africa: https://t.me/maticnetwork_africa
🇯🇵 Japan: https://t.me/maticnetwork_japan
🇵🇭 Philippines: https://t.me/MaticNetworkPh
🇻🇳 Vietnam: https://t.me/maticnetwork_vietnam

Q5 from Telegram user @DVDH_29
What distinguishes the Polygon ecosystem from other liquidity farming projects?

Arun Philips:
We have things like Triple Yield farming with low fees and high speeds 😉
https://twitter.com/maticnetwork/status/1355172613258006529?s=21

Q6 from Telegram user @Wormz28
Gas Fees are terrible right? So how we can on-ramp directly into MaticNetwork using Transak? So can you explain more about Transak? Also does Onboarding into USDC or other Matic assets on Global Transak can save a ton in Gas? If yes, how can you say so, and how it works?

Arun Philips:
Great Q! Yes, there is a way to get started with low-cost high-speed farming, WITHOUT paying eth fees!
Read this blog for details
https://twitter.com/transak_finance/status/1359495902159908866?s=21

Q7 from Telegram user @stargateeatlantis
Can you talk about your team and their experiences of defi and also about the experiences of your partners?

Arun Philips:
What’s most important for DeFi protocols is composability, and I believe that since L2 is 100% EVM compatible, this composability is carried onto L2.
The next important consideration for DeFi protocols is gas fees: harvesting, staking, opening and closing vaults – functions in DeFi contracts are extremely gas-intensive.
We’ve already seen users pushing for L2 versions in popular Ethereum DeFi protocols, and we’re confident that 2021 will be the year of a high influx of DeFi protocols onto L2.

DeFi:

Wallets: Arkane
Infrastructure: MyWish, Transak, Bulksender
Exchange & Liquidity: QuickSwap, Dfyn, Jelly Swap, SwapMatic
Credit & Lending
DAOs and Governance: PowerPool, DiTo,
Earn & Aggregators: Fire Protocol, Rubic Finance, Bonded Finance, Reef Finance
Prediction and Betting Markets: Polymarket, SportX, PlotX
Stablecoins: USDC, USDT, DAI
Cross Chain Protocols: CyberFi
BTC
Algo/Rebase Coins: Rebase
Insurance
Oracles: Chainlink, DIA, API3, Tellor
KYC & Identity
Derivatives: Injective Protocol
B2B: Parcel, Creol

Q8 from Telegram user @Karoceh
How will Polygon adapt to Ethereum when they can scale themself? Will Polygon work separately? Can we know how the commitment of both companies in the future?

Arun Philips:
I believe this part is important to stress We fully adopt Ethereum’s ethos of open innovation and we designed Polygon with it as one of the main design goals.

With that being said we have some of the top researchers in Ethereum working Polygon, and many of our team members including Mihailo Bjelic and Jaynti Kanani, our CEO our long Ethereum researchers and developers, having contributed to many critical Ethereum network updates.

We also have top advisors from the ETH ecosystem like Ryan Sean Adams, Hudson James, John Lilic, and Anthony Sassano.

Q9 from Telegram user @Beterror203
Hi, Mr @arunphilips I’m read that Matic (Polygon) Like other second-layer solutions, supports Ethereum tools and allows developers to “just pick their Ethereum smart contracts and deploy them on Matic sidechains in a matter of minutes, as Matic is one of the pioneers in offering this service, what would be the innovation and vision that Matic would have in the coming years according to the evolution of ETH and Defi in general, what do we expect from you?

Arun Philips:
Polygon has been focused on solving these two problems for Dapps in our ecosystem.**

1. Switching RPCs- Through a partnership with Biconomy, we’ve enabled gasless meta transactions without network switching. This means Dapps can have their users stay on the Ethereum network, while txns take place on Matic. This is a huge development and is already working wonders in user experience. Check out this promo Biconomy is running till March – free txns for all Dapps that use Biconomy!
2. Bringing and Removing funds to/from Layer 2 – Though Matic’s POS Bridge supports deposits in ~10 mins and withdrawals in ~30 mins, this step is still difficult for an average user. To combat this, we have a robust on-ramp and off-ramp directly to Matic thanks to Transak. This means that a user can enter and exit layer 2 seamlessly in a matter of few minutes. We also have exciting integrations with Connext to enable fast exits from Matic.

Q10 from Telegram user @dumpspump
I’d like to learn about the general tokenomics of your token and your project?

Arun Philips:
The benefits of holding MATIC are many!

1. Take part in Network Security by Staking Matic and earning ~30% APR. In addition to the network returns, Matic stakers are constantly receiving benefits and airdrops for securing the network. In the last two months, Matic stakers have received airdrops from Marlin Protocol, AUDIT.ONE and many other validators and partners. You can also use your staked position in Matic to farm tokens from other projects like Marlin Protocol.
2. Used for Transactions on Matic Network, holding Matic allows you to interact and use the plethora of Dapps on Matic, without high gas fees burning a hole in your pocket!
3. As collateral on Partner Networks: You will be able to use Matic as an asset on multiple partner networks, eg. Derivatives trading using Matic, Prediction Markets for Matic, Yield Farming on Quickswap, etc.
4. Participation in exclusive funding rounds: Select projects collaborating with Matic Network will take place exclusively in MATIC tokens. Marlin Protocol and Cere Network were the first project to raise funds on Matic Network, as part of the Matic Ecosystem Initiative, and many more are in the pipeline to do the same.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Polygon (previously Matic). They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:
Polygon (previously Matic) Telegram community: https://t.me/maticnetwork

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 Launchpool and our guest was Rich, CEO of Launchpool. The AMA took place on 10 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:
Hello, dear Satoshi Clubbers!

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

Gold Rocket | Satoshi Club:
We conclude our today’s AMA marathon series with Launchpool.

Mary | Satoshi Club:
@Rich_Launchpool welcome here 🚀

Rich:
Hi, great to be here, thanks for having me.

Gold Rocket | Satoshi Club:
Welcome to Satoshi Club, @Rich_Launchpool😀

Rich:
Hello everyone.

Gold Rocket | Satoshi Club:
Thanks for joining 👍

Mary | Satoshi Club:
Let’s start our party 🎉 Rich, could you please introduce yourself and tell us more about Launchpool! We want to know as much as possible 🔥

Gold Rocket | Satoshi Club:
How did you get to be involved in crypto & Launchpool?

Rich:
I got involved as most people did I think, a friend recommended I look into it. I bought my first crypto and down the rabbit hole I went. Luckily I’ve been working full time in the space for 3.5 years

Gold Rocket | Satoshi Club:
Lol … like most of us😁

Rich:
I am the CEO of Launchpool. Before joining Launchpool, I worked as the Director of Research and Projects at Alphabit Digital Asset Fund.

Mary | Satoshi Club,:
You’re really lucky 😀

Rich:
Yeah i feel blessed, I love crypto. I live and breathe it. Only problem is switching off from it!

Gold Rocket | Satoshi Club:
🚀

Mary | Satoshi Club:
Yes😂

Gold Rocket | Satoshi Club:
Here everyone understands you well! 😁

Mary | Satoshi Club:
And how did you come to the thought that we need Launchpool?)

Rich:
Launchpool was born out of the idea that the different elements of the ecosystem weren’t really all pulling in the same direction. For example, projects live and die by their community. Yet the community are often the last to get to buy the tokens and generally don’t get as oood deals

Mary | Satoshi Club:
Yes, that’s true.

Rich:
So we wanted to do something about that. And we wanted to create an envirnment that minimised risk for everyone. Risk of dodgy projects for small investors. But also for funds. We think our model minimises risk for them too. We aim to incentive our community to stay with projects and use the service of the projects we launch. So hopefully its a win win for everyone. And of course the projects get the benefit of a bootstrapped community and well connected investor/funds.

Gold Rocket | Satoshi Club:
This is a very good motivation! and the idea is great too.

Rich:
Thanks, we think so too.

Gold Rocket | Satoshi Club:
Thanks for the great intro! Ready for community questions?😉

Rich:
Ready!

Gold Rocket | Satoshi Club:
🚀🚀🚀

Q1 from Telegram User @reinleoken
Staking opens in about five days time, and distribution of $LPT a week later, what token are we staking, ETH, BTC or USDT? What’s the return of investment we can get in a week time, what percentage of stake is given as return? And how do we stake? I couldn’t find it on the site or the Bloomberg article.

Rich:
Thanks for your question. Its a good one since we haven’t got the information out there yet. However, today I can exclusively announce to Satoshi Club and therefore the wider world the tokens that we will use for staking to earn out tokens $LPT
We have chosen projects whose community we believe would like to become a part of Launchpool’s community. These projects and tokens are:
1inch: 1inch.exchange ($1INCH)
Bondly: bondly.finance ($BONDLY)
Rune: thorchain.org (ERC20 $RUNE)
Uniswap: uniswap.info ($UNI)
Polkastarter: polkastarter.com($POLS)
Sushi : sushiswap.fi ($SUSHI)
ShareRing: sharering.network ($SHR)
Standard Tokenization Protocol: stp.network ($STPT)
PAID Network: paidnetwork.com ($PAID)
TAP: tap.global ($XTP)

We cannot know the returns for sure as it will depend on the TVL and price performance of our token, but we have engineered it to be a success. I expect it to be a very lucrative pursuit for stakers.
Staking will be just like staking into a farm on sushi or similar.
Some info is here,
https://launchpool.medium.com/how-to-earn-lpt-4950bf99b24c
We will be releasing more soon.

Mary | Satoshi Club:
Wow, thank you for sharing! We like such news! Why you choose this projects? It was your choice or community?

Rich:
Our token will form part of an investor ecosystem on our platform. So hlding our token will get you access to deals at great prices. so by just holding you can earn by these opportunities. Very happy to share. 😊

Mary | Satoshi Club:
Will we need to deposit to your platform?

Rich:
To access projects you mean?

Mary | Satoshi Club:
Yes😀

Rich:
yeah you stake the $LPT to show interest, then when you invest in the project, you get your $LPT back ready for the next investment!

Mary | Satoshi Club:
Great! What about security of your platform?😀

Rich:
We have had our phase 1 contracts audited by Certik.
Phase 1 is our token distribution
Phase 2 is the project investment side.
Auditing of phase 2 contracts will be complete before we launch phase 2. Let me get you the link for the audit

Mary | Satoshi Club:
Sure👍

Rich:
https://github.com/certikfoundation-shared/CertiK-Audits/blob/master/reports/REP-LaunchPool-30_01_2021 (1).pdf

Mary | Satoshi Club:
Great! Thanks!

Rich:
My bad, link broke.

Mary | Satoshi Club:
Yes, I also can’t open it.

Rich:
https://github.com/certikfoundation-shared/CertiK-Audits/blob/master/reports/REP-LaunchPool-30_01_2021%20(1).pdf
There you go.

Mary | Satoshi Club:
It’s ok now😀

Rich:
Phase 1 will last 90 days, during that period we will launch phase 2.

Mary | Satoshi Club:
Thank you for your answers! Ready to proceed?

Rich:
Sure.

Gold Rocket | Satoshi Club:
Q2 from Telegram user @Korryl
On your Twitter said Launchpool can absolutely be a once-in-a-lifetime opportunity to kick-start your blockchain project. Almost 92% of blockchain project is failed. Can you explain what makes other project failed? And how can you convince us that Launchpool will become a success project?

Rich:
The tweet was referring to Launchpool being a great way for other projects to launch . However the reasons for their success are the same as the reasons for our success. Our backers, our community and industry know how will help to ensure projects are a success. We believe we’re a once in a lifetime opportunity because we’re going to be the best at what we do. We will ensure that because: EQUAL OPPORTUNITY.
1) Our focus is equality, so our community invests at the same price that the large investment funds do.
2) we have 10 industry known funds behind us providing deal flow. They also vet the projects and invest alongside launchpool. So you know the projects on our platform have passed the tests put on them by these professional investors.
3) we won’t operate first come first served or on a preferred tier basis. You stake your LPT to show interest in a project on our platform. Everyone that stakes gets a proportionate part of the allocation. Stake more LPT to get more allocation, everyone gets the same price and same vesting terms.
4) We are giving away free over 25% of our tokens to bootstrap our community. That can be you! Simply participate in our token distribution event starting on the 22nd.

Mary | Satoshi Club:
Yes, good opportunities 👍

Rich:
We really want to focus on building the best community out there. The community will be our most important asset. And they will share equally with everyone else, as they should do. So I ask all of you to be part of what we’re building. Come and join us!

Mary | Satoshi Club:
Do you already have local communities?

Rich:
It’s free! And it’ll be rewarding.

Mary | Satoshi Clu:
Of course! Satoshiclubbers 😉 join here @launchpoolxyz

Rich:
Yes we have a community, but we want to grow it. We’re a new company so there is plenty of room for growth!

Mary | Satoshi Club:
Sure! 🚀🚀🚀 Ready to proceed?😀

Rich:
I am.

Gold Rocket | Satoshi Club:
Q3 from Telegram user @Highpee
You have announced a partnership with Alphabit LTD, one of the world’s first regulated digital investment Fund and you have also said you are going to be fully compliant with all available regulations within your operating jurisdiction. How will these regulations affect your user-base and investors? Does it mean KYC will be needed to use your platform? Also, considering that some of the new projects which may want to launch on your platform may want to operate the full structure of decentralized finance including running anonymous team to avoid legal intricacies, how do you intend to run smoothly while enforcing regulation?

Rich:
Ok, a few bits here. Launchpool’s ethos is centered around doing the right thing in every situation. So to invest in projects you will need to be KYC’d yes. This is so that we adhere to Anti-Money-Laundering regulations. In the same vain we will also require all projects to undergo KYC. This way we can ensure that all participants are acting in the best interest of everyone that uses the platform. Its as simple as that really. We love defi and hope to launch many defi projects. But there are international rules regarding money laundering and we will work within them.

Mary | Satoshi Club:
So, a bit less decentralisation but a bit more security 😂

Rich:
We think this will protect investors too.

Gold Rocket | Satoshi Club:
Really! Safety first!

Rich:
Yes i suppose true decentralisation would be free from barriers to entry.

Mary | Satoshi Club:
Will some countries’ citizens be restricted from participation?

Rich:
Yes residents from the US and countries on the UN’s sanctioned list will be unable to join us. Sorry. There are other platforms that they may use, so we’re offering a slightly different service. As you say, more security. But at the cost of some people being unable to join us.

Mary | Satoshi Club:
Understand! And next question is also connected with this question 😉 Ready?

Rich:
Yep.

Gold Rocket | Satoshi Club:
Q4 from Telegram user @sirdefi
Launchpool claims to offer the community only projects that are legal and of proven benefit, so how is this validation process for new funds or projects? How long does it take you to verify that it is worth incorporating? I would also like to know if you are responsible for losses on “verified” projects that turned out to be scams.

Rich:
All projects are subject to due diligence by the platform. So we will do KYC checks on the founders and team, advisors etc. If an associate investment fund has brought the project to us then they will have also done their due diligence.

Mary | Satoshi Club:
Did you ever think about some kind of insurance? Because a lot of things can happened, but of course we hope only for the best.

Rich:
Like all crowdfunding platforms we are not responsible for losses. Of course no amount of due diligence can protect the investor from every eventuality. It is always the responsibility of the investor to do their own research. We do not offer investment advice.
However we would obviously suffer reputational damage so it is in our interest to only allow the very best projects to launch on our platform. We are actively looking at this. But it’s early days and definitely won’t be ready at the start of our platform launch. But hopefully it is something we can integrate.

Mary | Satoshi Club:
But it’s very good that you think about this! Thank you for your answers! Let’s jump to the next question?😉

Rich:
Yeah.

Gold Rocket | Satoshi Club:
Q5 from Telegram user @AmirJosh
I read on the Launchpool website about the Egalitarian Investing that the project is trying to implement. What is this Egalitarian Investing is all about and why do you think it is the most suitable system for a platform like yours?

Rich:
As I have alluded to in other answers. egalitarianism means everyone equal. So for different stakeholders on our platform, it is important to us that they’re all equal because they all provide something valuable to the ecosystem. Influencers, marketers, small and large investors, all play their part. so they should all get the same deal. If everyone gets the same deal, then everyone is in the same boat, all rowing in the same direction to success! We believe this is important to the space democratisation and equality is really what the cyperpunk movement is about.

Mary | Satoshi Club:
Ok, let’s say influencer made a great campaign and brought you, let’s say, 1000 community members and 10 big investors and a guy just bought some of your tokens. Will they be equal both?

Rich:
So we want to bring that to everyone and let everyone participate on equal terms. This is why we have 25% of our tokens designated for ‘Endeavor rewards’ these are token rewards that will be given to those who provide the most value. So yeah if you’re an influencer bringing us 1000 community members you might be entitled to some of these rewards. if you’re just a guy then probably not. But if you’re a token holder you can still et those great investment deals.

Mary | Satoshi Club:
Gotcha 👍 Thank you! Ready for the 6th and last question from this part?🔥

Rich:
The idea will be to create a circular economy, s as projects launch and Launchpool benefits from that, Launchpool will buy tokens off the open market to replace endeavour rewards earned by people adding value. I am now!

Gold Rocket | Satoshi Club:
Q6 from Telegram User @borysfireball
Recently i was going to join one pre-sale on one of the platforms, but i found that if i want to invest ~$500 in sales i need to hold ~$3000 of the platform’s tokens. So, what about Launchpool? How many tokens i will need to hold to participate in events?

Rich:
Ah again, this is one of the things that differentiates us from other platforms. Even if you have 1 LPT token you can stake it and you will be offered some of the allocations. iI may not be worth it with gas prices as they are, but that is the ethos of the platform. everyone gets a cut no matter how small. So yeah someone with $500 can definitely use our platform and will definitely be able to invest in projects. We’d love to have you 😊 Since just because you have less money doesn’t mean you’re less valuable to our project or the project you’re investing in.

Mary | Satoshi Club:
That’s nice😂 more opportunities for users! Did you already find projects which want to launch on your platform lately?😉

Rich:
You might be a great marketer in your country or have some other skills that are beneficial.

Mary | Satoshi Club:
Golden words 😀

Rich:
Yeah we are actively discussing launch with some projects now. we’re really excited to get going and we think they will be big.

Mary | Satoshi Club:
We will wait for the announcements from you🚀

Rich:
I can’t say too much, as we’re still finalizing things but we’re already getting lost of offers from projects so we will be whittling the down to a few for launch. Yes they won’t be too long.

Mary | Satoshi Club:
🚀🚀🚀

Gold Rocket | Satoshi Club:
Рrepare for a storm of questions 🚀 But before that, please share some useful links and information with our community. @Rich_Launchpool

Mary | Satoshi Club:
Live part? Storm of questions? Did you already prepare your umbrella ☔️?😂

Rich:
I would love to say thank you to you the hosts and your community for taking the time to hear what i have to say and hear about Launchpool! Yeah storm questions, lets go. Links: @LaunchPoolXYZ Telegram and Medium https://launchpool.medium.com/

Mary | Satoshi Club:
Yes, but you haven’t seen live questions yet😂 You will feel how strong our community is and how interested they are in the Launchpool project 🚀

Rich:
Ah ok, fair enough.

Gold Rocket | Satoshi Club:
Thanks for kindly words.

Rich:
I’m sure they’ll be great.

Mary | Satoshi Club:
Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Jannatul Ferdous
What is business model of your project ? How it works? and
Who are your potential customers and which markets are you targeting on?

Rich: We charge the Projects a small fee. After our costs, we will use any leftovers to buyback $LPT that we can then give away as a reward to people that add value to our platform. Our potential customers are any crypto investors. Our markets are all over the world.

Q2 from Telegram user @ Topind

Can you highlight and explain three to four key benefits for $LPT tokens?

Rich:
Access to projects at the earliest rounds, enabling investors to access best prices without the associated minimum threshold reserved for investment funds. Investment through a regulatory compliant means. Peace of mind investments are made into bona fide projects that have been vetted on a number of levels. Chance to become a meaningful part of new project communities.

Q3 from Telegram user @ Kevin Salom

🔥 At what stage is Launchpool at the moment? How many projects are associated with you at the moment? What items do you have on your schedule for 2021?

Rich:
We are a few days away from launching. You can see the countdown on our website. As I said we’re actively discussing launching some projects on our platform now. we hope the first one will be in around 40-60 days.

Q4 from Telegram user @ ꧁ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ ꧂

How did you find the SatoshiClub community?

Rich:
Great fun, thanks for having me!

Q5 from Telegram user @ 🔴 Vasco da Gama

“Q2 / Q3 2021 on your roadmap Process improvements.” Will you not have any other actions during this period?

Rich:
Project investment opportunities will continue throughout any improvement process/upgrade.

Q6 from Telegram user @ Anderson Ico speaks community is scam

Hello
!@Rich_Launchpool. I have been scam before in other projects by scammer .so will you please give me the right contact information to whom should I contact for joining LPT presale?

Rich: Its awful to hear when people have been scammed. This is what we’re trying to avoid. Go to the website and our medium page and you can learn how to participate in our giveaway.

Q7 from Telegram user @ TRON TRX

How do you plan to promote your project in different countries? where English is not spoken very well. Do you have a local community so they can understand your project?

Rich:
We will eventually have local communities in non English speaking jurisdictions.

Q8 from Telegram user @ 👽 Crypto Jiren 👽

❎ If I want to only invest in mutual funds associated with Launchpool do I need to buy $LPT token? Or is it not mandatory in this case?

Rich:
To be part of our community you must hold $LPT. well if you ant to invest in projects you must do.

Q9 from Telegram user @ I thingking about me || Buy Aerox Soon ~

Can I stake the $LPT token and what long-term hold on the $LPT token?

Rich:
During phase 1 of our token distribution, you can stake $LPT and LPT/ETH univ2 to earn more $LPT. Then in phase 2 you can stake 4lpt to access investment opportunities in the projects launching on our platform.

Q10 from Telegram user @ RiaNia

Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming ?

Rich:
This is important. We recognize that when the Yield farming ends then people tend to sell and move to the next farm opportunity. Before our yield farming ends we will launch projects on our platform. Therefore there will be another use case for the holder that they can profit from. Once we start launching projects we don’t intend to stop. Polkastarter has done a great job of showing what is possible. We plan to take it to the next level.
Integrate more blockchains and have more opportunities for investors.

Part 3 – Quiz Results

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

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

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

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

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

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

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

Website: https://esatoshi.club/

Our partners:

Telegram Community – https://t.me/LaunchPoolXYZ

Medium – https://launchpool.medium.com/

We are pleased to announce our next AMA on February 16th 2021 at 11:00 AM UTC Time: Satoshi Club x Deri Protocol

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Deri Protocol Telegram group

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Deri Protocol Team will select 10 questions and answer them.

Part 3: 800$ – A quiz about Deri Protocol

For more details:
Deri Protocol – @DeriProtocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on February 14th 2021 at 05:00 PM UTC Time: Satoshi Club x LiftOff

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

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

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. LiftOff Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about LiftOff

For more details:
LiftOff – @LiftoffETH
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 Mdex and our guest was Kiko – CMO of Mdex and Dantes Stan – representative of Mdex. The AMA took place on 12 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 Satoshi Club! We are happy to announce our AMA session with MDEX! Welcome to Satoshi Club😀

D. | Satoshi Club:
Hello everyone! 👋

D. | Satoshi Club:
Today we are welcoming @MdexKiko in Satoshi Club!😃

Kiko:
Hello, Satoshi community.

D. | Satoshi Club:
Hello! good to have you here😊

Mary | Satoshi Club:
Welcome here, Kiko!😀 How are you today?

Kiko:
Great. I’m glad to be here.

Mary | Satoshi Club:
So, let’s start our AMA 🚀

D. | Satoshi Club:
Super! please, introduce your project and tell us a bit about your experience in crypto😊

Kiko:
Can’t wait for the start.

Kiko:
Sure.

Kiko:
I’m Kiko.

Kiko:
CMO of Mdex.

Kiko:
I’m graduated from HongKong University and have been in the crypto industry for 3 years.

D. | Satoshi Club:
Nice! Mdex is your first big project in crypto?😊

Kiko:
I have abundant working experience in this industry, especially for crypto marketing.

Kiko:
It is the most potential and innovative one.

Mary | Satoshi Club:
Yes, the potential is huge😀 what do you personally like in crypto most of all?

Kiko:
This industry is brand new and has a lot of opportunities. We see unexpected innovation every day.

Mary | Satoshi Club:
Yes, that’s true 😀

D. | Satoshi Club:
Indeed! so what is Mdex? What are you guys working on?☺️

Kiko:
People out of this field can’t imagine what is happening here.

Kiko:
Mdex is a new type of Dex, with a dual-chain mechanism of Heco and Ethereum.

Mary | Satoshi Club:
Oh, yes, sometimes I am feeling like an alien between my friends 😂

Kiko:
True.

D. | Satoshi Club:
This is cool, sounds like something new on the market 👍

Mary | Satoshi Club:
Why Heco?😀 More and more projects launch on Heco.

Kiko:
First of all, you need to know what is MDEX
MDEX is the first trading platform on HECO, which is a decentralized trading product based on AMM of capital pool concept.

Mary | Satoshi Club:
👍

Kiko:
At the same time, the double-chain DEX model based on Heco and ETH is proposed and realized.

Kiko:
It combines the advantages of the low transaction cost of HECO chain and the prosperity of Ethereum ecosystem and supports the “double mining mechanism” of liquidity mining and transaction mining.😁

D. | Satoshi Club:
Sounds good 😊

Dantes Stan | DON’T PM FOR ETH/$$:
Also in addition to Kiko’s answer, we understand the current high Ethereum gas fee, so our team looked into Heco and understands it will be the best as the transaction fee on heco is quite minimal and fees are paid in HT. So this is why we decided to go with heco.

Mary | Satoshi Club:
Got it👍 has a sense.

Kiko:
Welcome my friend, Mdex Global Community manager.

Mary | Satoshi Club:
Hello, Dantes Stan😀 welcome to Satoshi Club!

Kiko:
Yes, he can help to explain more details.

Dantes Stan | DON’T PM FOR ETH/$$:
Glad to be here to answer some of the questions with you 🙂

Kiko:
well, TBH, we think Ethereum’s current Defi is certainly well developed, but it’s far from “perfect.”We’ve all used Uniswap or Sushiswap, etc., and the gas fee, the lag time, and the slippage of the transaction all affect our investment and experience.

D. | Satoshi Club:
@justnow09 nice to have you here! 😊

Dantes Stan | DON’T PM FOR ETH/$$:
Thank you, Mary 😊

Dantes Stan | DON’T PM FOR ETH/$$:
Thank you 😊

Mary | Satoshi Club:
I have used, but it’s almost impossible now if you’re not a whale 😂

Kiko:
Mdex.com is the hub of value exchange in the HECO ecosystem and is in a critical position.

D. | Satoshi Club:
Agreed! it’s hard to trade on Uniswap with those crazy fees 😄

Kiko, [12.02.21 16:22]
It overcomes solid points, gas charges, confirmation times, and more, improving the experience of using Dex on Ethereum by more than ten times.

Kiko:
Well, I believe this is why Mdex.com has set new records in terms of transactions, TVL, and users.

Mary | Satoshi Club:
We should definitely try this, we missed DEX trading 😂

Dantes Stan | DON’T PM FOR ETH/$$:
Yes, from the trader’s comments, most of them are really concerned about the huge gas fee on Ethereum Network, some days back. A single transaction on uniswap costs as high as $400 USD.

Kiko:
WELL that’s all for your question”WHY HECO”.

Mary | Satoshi Club:
It was an informative answer, thanks!

D. | Satoshi Club:
Thank you for the nice intro!👍 our community prepared lots of questions about your project today, are you ready to hear them?😉

Mary | Satoshi Club:
I know😂 I am happy you come here to tell us about new opportunities we can have😉

Kiko:
Yes, looking forward to these questions.

D. | Satoshi Club:
🚀🚀🚀

Q1 from Telegram user @NataliyaKil
Mdex supports a “dual mining mechanism”: liquidity mining and trade mining. Are there any special features that might interest us?

Dantes Stan | DON’T PM FOR ETH/$$:
Yes, we are ready to attend to them. I know Satoshi club got a decent community 😃

Kiko:
The special features relating to the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem, as we have mentioned a little bit above.

Kiko:
To support these features, I would like to share some impressive data from our platform.

Mary | Satoshi Club:
Sure!

Dantes Stan | DON’T PM FOR ETH/$$:
That’s a nice question, there are some special features. Anyone who does not want to join our LP or do trading mining can stake MDX on our boardroom and receive HT as an airdrop.

Kiko:

Mary | Satoshi Club:
What do I need to start using MDEX?

Kiko:
Yesterday, the trading volume of #MDEX has exceeded $1.4 billion. In comparison, the daily trading volume of #UniSwap is $1.1 billion, and the daily trading volume of #SushiSwap is $0.5 billion.

Mary | Satoshi Club:
Wow, unbelievable!

D. | Satoshi Club:
By the way, do you have instructions/guides for new users that can explain them – how to add and remove liquidity from pools, set up metamask, etc?

D. | Satoshi Club:
Very cool 👍

Dantes Stan | DON’T PM FOR ETH/$$:
Yes, this article is decent to provide instructions https://mdex.medium.com/how-to-participate-in-liquidity-mining-and-trade-mining-in-mdex-52329cfde91c

D. | Satoshi Club:
Nice!

Kiko:
We also welcome you to visit our medium to discover more tutorials.

Kiko:
https://mdex.medium.com/

Mary | Satoshi Club:
Seems easy! so, why not try😉

Mary | Satoshi Club:
Thanks for sharing! 🚀

Dantes Stan | DON’T PM FOR ETH/$$:
Haha, I think it will be nice if your community try it😆

Mary | Satoshi Club:
Of course! I can tell from my own experience that trading on another then ETH chains are very comfortable now🚀😉

Mary | Satoshi Club:
Ready for the next question?

Kiko:
Yes.

Kiko:
Well, We have a lot of Chinese tutorial materials, such as https://www.defibox.com/defiStrategy/118?
utm_source=325379

2, mining tutorial: https://www.jinse.com/blockchain/982125.html

3 economic white paper: https://www.defibox.com/defiStrategy/119?
utm_source=2187409

But more English ones are in the works, so keep an eye on us

D. | Satoshi Club:
Indeed😊

Q2 from Telegram user @rhedd
MdEX combines the advantages of the low transaction fees of the Heco chain and the prosperity of the Ethereum ecosystem..How do you maintain the low-cost transaction fee while your platform still utilizing Ethereum Blockchain? What contribution does HecoChain and Ethereum Blockchain bringing to your platform to make it more handy to use?

Kiko:
The transactions on Mdex are mainly executed on Heco. The aspects of Ethereum would be mapped and traded on Heco through a cross-chain bridge. It means farming and swap are not executed on Ethereum but related to Ethereum and benefit the assets on Ethereum.

Kiko:
The part of Ethereum on Mdex is still in development. Whether to open ETH and how to combine Ethereum with the current system will be decided by voting. Now the low transaction fee and fast transaction speed mainly benefit from Heco. However, with the development of ETH layer 2, we can expect more advantages from the Ethereum part.

Mary | Satoshi Club:
Who will vote for these changes?😀

Kiko:
Yes, more future development can be voted.

Mary | Satoshi Club:
Btw, did you already decide which L2 solution MDEX will use?

D. | Satoshi Club:
Don’t your afraid that fees on your platform might go higher when you face with a large amount of liquidity and users? on Binance Smart Chain the last couple of days trading fees increased to 1 buck for the swap and higher, ofc it’s not too crazy compared to Ethereum 😄, but still, fees are increasing on their platform.

Kiko:
We already have plans, but we haven’t ready to uncover the details. Let’s stay tuned for the L2 solution.

Mary | Satoshi Club:
And fees on ETH decreased a bit😂

Mary | Satoshi Club:
We will stay tuned for sure🚀

Dantes Stan | DON’T PM FOR ETH/$$:
Hecochain is more developer and user friendly and it’s cost-efficient public chain. So even if the number of users of the network increases, the fee will still be relatively low.

Mary | Satoshi Club:
Great, we hope so😀

D. | Satoshi Club:
Got it! thank you for your answer👍

D. | Satoshi Club:
Ready for the next question?

Dantes Stan | DON’T PM FOR ETH/$$:
Yes.

Q3 from Telegram user @meml97
I just read on your Twitter that you had a problem, something occurred on the node server, resulting in 91 abnormal repurchase orders, totaling 91000USDT. Could you explain how could this happen? What happened to the node server that caused this tremendous amount of abnormal repurchase, and how are you going to assure your users that this won’t happen again? Did you already solve this? When are you going to pay this USDT back?

Kiko:
Due to the huge amount of data risen along with the increasing transaction volume, the node server failed to synchronize the data in real-time, resulting in abnormal buyback average price acquisition. The team has immediately increased the number of new server nodes, and now the problem has been fixed.

Kiko:
91 repurchases, totaling 91000USDT, were triggered due to abnormal price acquisition, and the 91000USDT will be paid by the team A.S.A.P. We apologize for any misunderstanding caused to the community.

Mary | Satoshi Club:
So you are ready if situation repeats? If amount will rise again?

Kiko:
With this experience, we have already fixed the problem and will have a better solution to prevent a similar situation.

Mary | Satoshi Club:
Thanks! Happy to hear this!

Mary | Satoshi Club:
Ready to jump to the next question?

Kiko:
It will not repeat. And we have well prepared for the large data volume on our website in the future.

Kiko:
Yes, let’s move to next question.

D. | Satoshi Club:
Thank you for your answers! 😊

Q4 from Telegram user @lzamg
You mention the importance of support from the community and you created the M-Angel Program to keep the people involved in the MDEX project. If I want to become a M-Angel, what are the requirements I need to meet? Would I be able to create a local MDEX community in a form of support for the project? And if an M-Angel doesn’t accomplish what they are supposed to, what would happen?

Kiko:
M-Angel is a long-term personal partner of MDEX community, helping MDEX to build and care for an MDEX brand that continuously transcends the past, challenges the future, and focuses on the present details.

Kiko:
M-Angels can contribute any valuable resource to MDEX and are rewarded with MDX tokens or other forms of incentives for their contributions.

Kiko:
According to the monthly score, M-Angel ranks Navy Blue, Sky Blue, and Blizzard Blue in order, and the ranking rises or falls according to the monthly activity and contribution value.

Mary | Satoshi Club:
What do I need to do to become M-Angel?😀

Kiko:
We have gladly received several applications these days. There are applicants like YouTuber, community manager, a developer who showed high interest in Mdex and have already paid a lot of attention to us before the recruitment.

D. | Satoshi Club:
Yes, what are the requirements? 😇

Kiko:
We sincerely welcome anyone who has a passion for helping our team build a great brand and letting more people know Mdex. If you want to participate in the construction of MDEX community, no matter what advantages you have, now you can apply for the M-angel of MDEX community.

Kiko:
To find the access, here is the information you may need:
https://twitter.com/Mdextech/status/1358733226085257216?s=20

Kiko:
First, we understand and believe what Mdex is doing.

Kiko:
Secondly, you could like to contribute your personal abilities or resources that could help the team.

Mary | Satoshi Club:
Thanks! Satoshiclubbers, who want to become M-Angel? Join immediately 🚀😉

Mary | Satoshi Club:
I think you will get a huge response from your community 👍

Dantes Stan | DON’T PM FOR ETH/$$:
Also anyone who is good at building and managing a regional community is welcome to join.

Kiko:
It’s not difficult. Hope we can receive more applications from Satoshi club

Mary | Satoshi Club:
I am sure 😀🚀

Mary | Satoshi Club:
Ready for the next question?😀

Kiko:
Yes.

Dantes Stan | DON’T PM FOR ETH/$$:
Yes. You can go on.

Q5 from Telegram user @Highpee
Transaction fee on MDEX will be charged at 0.3% and you have planned that 66% of your fee income will be used to repurchase and burn MDX and buy HT to airdrop to users who mortgage MDX. Since on-chain transactions are daily recurring activity and fees are regularly charged per transaction made on a chain, does it means you plan to have a regular or continuous airdrop event as long as there are transactions, or is this a one-time offer? What amount of MDX should a user mortgage/hold to be qualified for this drop?

Kiko:
MDEX will allocate the corresponding proportion of daily platform income into the repurchasing and burning pool. When the market price is lower than the three-day average price, the smart contract will be triggered, and the repurchasing and burning will be automatically executed. If the actions are not triggered, the tokens will continue to accumulate into the repurchasing and burning pool.

Kiko:
And for the airdrop, there are no limits for the amount of MDX should a user mortgage/hold.

Kiko:
If you hold MDX, you could have a lot of opportunities to receive an airdrop. For the details, pls visit the website mdex.com—boardroom. You can view all the information there.

Mary | Satoshi Club:
Did you already burn some MDX?

D. | Satoshi Club:
How many tokens of your total supply are you planning to burn?

D. | Satoshi Club:
👍👍👍

Dantes Stan | DON’T PM FOR ETH/$$:
There is no specific amount that has been set, we currently planned the burning to continue once there is a transaction fee. If there is going to be any changes on this, we will communicate it with the community.

D. | Satoshi Club:
Gotcha.

Mary | Satoshi Club:
What about the 6th and last question from this part, guys?😉

Kiko:
Go on😉

Q6 from Telegram user @Arisabela
Mdex has been audited by CODESAFE, nevertheless the audition document isn’t public on your website, can you share it? Also, what are the security features for keeping your user’s assets safe from external attacks?

Dantes Stan | DON’T PM FOR ETH/$$:
We released a public announcement after the auditing. You can check it here https://twitter.com/Mdextech/status/1351461845308043266

Kiko:
The questioner must have missed the report. We have published it on our website. The report showed we have improved the issues that were found in the smart contract and eventually passed the audit.

Mary | Satoshi Club:
Thank you! Do you plan additional audits?

Kiko:
We have already run several contracts in the test network and the main network, during which we are constantly adding test cases for internal iteration, and we have been audited by third parties. At the same time, we have a very good mechanism to protect against Oracle and lightning attacks, and we have a very good joint defense mechanism.

Kiko:
Yes, we are lining up for more audits.

Mary | Satoshi Club:
It’s very good, it means you really care about security 😀

Kiko:
Besides, welcome to check our code development on GitHub.

Kiko:
https://github.com/mdexSwap/contracts

Mary | Satoshi Club:
🚀🚀🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @topind7
Do you have any instructions on how to participate in liquidity and trade mining in Mdex?

Dantes Stan | DON’T PM FOR ETH/$$:
Yes, this article will provide all the instructions on how to participate https://mdex.medium.com/how-to-participate-in-liquidity-mining-and-trade-mining-in-mdex-52329cfde91c

Q2 from Telegram user @ronaldo_super
Can I learn the main difference between MDex from other defi projects?

Kiko:
The main difference relates to our dual-chain mechanism and the rather low transaction fees. And we are exploring how to bring more advantages from these two chains.

Q3 from Telegram user @feranno
In which markets is MDEX more used now? Do you have a plan to reach more users and investors?

Kiko:
Currently, we have opened the English and Chinese markets. We have built a new Russian community. More language communities will come soon. As mentioned before, we also hope we can recruit more M-angels to help us expand the market to more countries and in more local languages.

For Russian users, why not come to be early birds in Mdex Russian. Join us here: https://t.me/MDEXRUSSIA

Q4 from Telegram user @JoanaZ
One of the use cases of the MDX token is “Repurchase and destroy MDX” so that means that your token has a deflationary model associated, so which is your burning rate and how often do you Repurchase tokens?

Dantes Stan | DON’T PM FOR ETH/$$:
We do allocate some Mdex of our daily platform income into the repurchasing and burning pool, the allocated funds are used for repurchasing and burning the MDX. And yeah, MDX is deflationary. Whenever the market price is lower than the 3 days average price, our smart contract gets triggered and the repurchasing and burning will be automatically executed. If the actions are not triggered, the tokens will continue to accumulate into the repurchasing and burning pool.

Q5 from Telegram user @lionsaver
Are there any plans to airdropping Mdex coin like uniswap did?

Dantes Stan | DON’T PM FOR ETH/$$:
You can stake MDX in our boardroom and receive HT as an airdrop. You can also join our liquidity mining and receive MDX as a reward.

Q6 from Telegram user @AllenLu
Does trading minin connect directly with metamask or another wallet?

Dantes Stan | DON’T PM FOR ETH/$$:
For a better user-friendly, it’s advisable to use metamask. You can also use a token pocket. We are working on supporting other wallets.

Q7 from Telegram user @stargateeatlantis
Can you tell us about the business model and ecosystem of your defi project and platform?

Kiko:
We have published a brief whitepaper. Please check out here: https://mdex.medium.com/mdex-economic-whitepaper-1bdc882e20c9

Q8 from Telegram user @wonderkit
Where can we find MDEX tokens currently available in the market or on DEX or P2P and is there a requirement to become an MDEX holder?

Dantes Stan | DON’T PM FOR ETH/$$:
Mdex is listed on Huobi exchange and our mdex.com, you can purchase MDX on huobi and mdex.com. you can also use your MDX+USDT to join our liquidity mining program, you can also stake mdx in the boardroom.

Q9 from Telegram user @tikok21
Marketing is a central element for every project so that everyone knows the potential that a project can bring is vital to achieving the goals set. What is your strategy to attract new users and investors to your project and keep them long term?

Kiko:
Firstly, the user-friendly platform itself and the high rewarding rate are two foundations to attract users. Secondly, we are launching many bounty campaign soon to enlarge our community and follower base. Please pay attention to our twitter.

Q10 from Telegram user @Gutike95
How much is the minimum amount of Tokens of which I must be the holder in order to be part of the community and governance of the MDEX project?

Dantes Stan | DON’T PM FOR ETH/$$:
There is no limit of MDX tokens you need to hold to be part of our community. Everyone is free and welcome to join our community @MdexEN

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Mdex. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 800$.

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

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

Our partners:
Mdex Telegram community: https://t.me/MdexEN
Website: https://mdex.com/#/

We are pleased to announce our next AMA on February 25th 2021 at 02:00 PM UTC Time: Satoshi Club x Polkadex

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

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

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Polkadex Team will select 10 questions and answer them.

Part 3: 400$ – A quiz about Polkadex

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

We are pleased to announce our next AMA on February 15th 2021 at 02:00 PM UTC Time: Satoshi Club x Fractal

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

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

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Fractal Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Fractal

For more details:
Fractal – @fractal_protocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on February 18th, 2021 at 10:30 AM UTC Time: Satoshi Club x IsItDebunked

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

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

We will have the following structure:

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

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. IsItDebunked Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about IsItDebunked

For more details:
IsItDebunked – @isitdebunked
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 BitBerry and our guest was Ryu, CEO of Monstercube & Bitberry, and Harry Kim, Marketing manager of Bitberry Finance. The AMA took place on 11 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:
Hello, dear Satoshi Clubbers!
We are pleased to announce our AMA with BitBerry😊

Andrés M. | Satoshi Club:
Hello community, I’m happy to be here with you, today our guest is @BitberryRyu welcome 😃

Ryu:
Hello nice to meet you. Im Ryu, Ceo of monstercube and Bitberry. From south Korea.

Gold Rocket | Satoshi Club:
Welcome to Satoshi Club, @BitberryRyu.

Andrés M. | Satoshi Club:
How are you Ryu?

Ryu:
Happy to participate Satoshi AMA.

Gold Rocket | Satoshi Club:
We are very happy to have you here today too! 👍

Andrés M. | Satoshi Club:
It is an honour for us to have you here

Could you tell us a bit about you and about Bitberry project?

Ryu:
Sure of course

I’m Ryu, CEO of Monstercube & Bitberry. I’ve been working as entrepreneur from 1999 to launch and exit many startups.I have successfully run several game companies and IT companies, and have various entrepreneurial experiences in Korea.

From the mid-2010s, SKtelecom, Korea’s largest telecommunications company, issued coupons and transferred the development and operation of Syrup Wallet, an advertisement application, to Monstercube, which is now the company, for successful operation.

In order to incorporate crypto using SKtelecom’s user base, Syrup is being rebranded and operated under the name Soda Play. Soda is a coin currently listed on Bithumb Korea. And I acquired Bitberry Wallet from Upbit in 2020 for Soda’s offline payments, asset management, and custody.
https://www.coindeskkorea.com/news/articleView.html?idxno=70411

I think the future of finance will be in Defi, but there are still many users who have difficulty using it due to lack of infrastructure. So, Bitberry Finance was born together for the growth of Cefi and Defi.

Bitberry Dex, which is scheduled to be launched, is the first DEX to be opened in Korea. In order to solve various regulations, tax issues, and KYC issues that are scheduled in the future, most users in Korea are expected to flow into Bitberry DEX.

Gold Rocket | Satoshi Club:
Wow! Excellent background !!!👍

Andrés M. | Satoshi Club:
@syncw Welcome to the AMA, can you talk?

Harry | Bitberry Finance:
Hello Thanks for having me here!

I’m Harry Kim (Marketing manager of Bitberry Finance) and have 5 years experience in the cryptocurrency market. I began falling in love with getting stronger gravity of DeFi wave. As of now, I also work as advisor and researcher of other DeFi projects.

Andrés M. | Satoshi Club:
What is Monstercube?

Gold Rocket | Satoshi Club:
We are glad to have you in Satoshi Club! Join us! Tell us a little about yourself 😊

Harry | Bitberry Finance:
Monstercube is the company that operated a restaurant curating service called Syrup (rebranded as SODA) from SK telecom, Korea’s largest telecommunications company. This service is used by 10 million customers (25% of Korean citizens).

Based on this huge number of users, the company has been earning record-breaking revenue by various advertisement. Because of this revenue, Monstercube acquired Bitberry by paying a significant amount of money from Upbit. Sales basically consist of funds such as advertising revenue through SODA and equity investments from various sources.

Andrés M. | Satoshi Club:
Nice to meet you Harry, how many time have you been involve in Bitberry?

Thanks for the info😃

Harry | Bitberry Finance:
Since the beginning, I’m in.

Gold Rocket | Satoshi Club:
Indeed Defi is a hot topic today!

🔥🔥🔥

Andrés M. | Satoshi Club:
@BitberryRyu Could you tell us how many people make up the Bitberry team and how did they come to choose this curious name? 🤔

Harry | Bitberry Finance:
For your infomation, I am also investor of MDEX lol.

But not topic today 🙂

Andrés M. | Satoshi Club:
Are you all in on DeFi or do you support some CeFi projects too?

Gold Rocket | Satoshi Club:
Maybe next time 😉

Harry | Bitberry Finance:
I am kinda DeFi maximast but use CeFi and Futures as well.

Ryu:
Around 50 people participate in bitberry.

We have 3 dev team , each team have leader and team members.

1st dev team : bitberry wallet, dex, yield farming
2nd dev team : Vault product, integration between defi project,
3rd dev team : focusing combined asset like synthetix

Cs center, marketing team, totally around 50

Andrés M. | Satoshi Club:
Wow a big team.

Ryu:
Bitberry is bit+strawberry.

Easy to use like eating strawberry.

Gold Rocket | Satoshi Club:
As far as I know, you are quite popular in your country.

Ryu:
Yes. Bitberry is originally subsidiary of Upbit, no.1 crypto exchange in Korea.

So all of user base are from users of Upbit.

Andrés M. | Satoshi Club:
So attractive for investors, everyone love strawberries 🙂

Gold Rocket | Satoshi Club:
I hope today’s AMA will add you fans 😉

Ryu:
Monstercube acquired Bitberry in 2020 for further expansion.

Gold Rocket | Satoshi Club:
Well friends! Thanks for the great intro! ready for community questions?

Ryu:
https://www.coindeskkorea.com/news/articleView.html?idxno=70411

Sure🤝🤝

Andrés M. | Satoshi Club:
Let’s go

Q1 from Telegram User @KevSalom
Bitberry incorporates two very important tokens $BBR and $fBBR. Can you explain us what function each one has? Also I could read that you will impose penalties if the $fBBR is lost. What is the reason for this if it is supposed to be minted indefinitely?

Harry | Bitberry Finance:
First of all, FarmBBR token($fBBR) is new concept in liquidity farming that will allow the users to securely save their original asset. fBBR Token is solely used to participate for the liquidity farming in Bitberry Finance.
Users of Bitberry wallet can exchange their tokens with certain ratio to earn FarmBBR token to participate in liquidity farming. FarmBBR token has similar concept to y~ tokens from Yearn, or c~tokens from Compound. Exchanging other tokens to earn FarmBBR token does not mean that it is a permanent exchange. Users can exchange their FarmBBR token back to their original asset that was staked(exchanged) at any time. All the staked tokens will be securely saved under Bitberry wallet.

Unlike other DeFi platforms’ governance token, Bitberry Token (BBR) will be supported with various utility, which will provided the connection between Bitberry’s DeFi and CeFi platform.

• BBR will be used as a fee of Bitberry wallet. In the future, when the users select BBR as a transfer fee, they can get a 50% discount in token transfer.
• In addition to transfer fee discount, if the users use CeFi fund product(Deposit & Earn) that runs within Bitberry wallet with BBR, they can get a 50% discount from operation fee.
• Vault strategy contract will include BBR-only Vault contract which will require BBR to participate.
• Bitberry Smart Farm with the concept of proxy farming in the future, lower-level farmers can be hired only by depositing BBR. The users need to hold certain amount of BBR in order to earn commission from sub farmers as additional bonuses, which can lead to bigger rewards in the future.
• In the tentatively named BBS (Bitberry Season 2), LP supply using BBR would accelerate the farming up to 1.5 ~3 times faster than regular farming. therefore, holding a certain amount of BBR at all times will be a way to secure the rewards from Bitberry Smart Farm and Bitberry Season 2. The users should own a BBR equivalent to at least 10,000 USDT in order to gain an edge in the proxy farming conducted at Bitberry Smart farm.

Andrés M. | Satoshi Club:
It is like a swap between $FBBR and $BBR?

Ryu:
Fbbr is the name used when soda coin is used in Bitberry finance.

Harry | Bitberry Finance:
fBBR is minted (swapped) by SODA token.

BBR is farmed by fBBR.

Ryu:
People can swap Soda coin to fbbr.

Harry | Bitberry Finance:
The reason why we induce ppl to use Soda to fBBR is there are thousands ppl who has Soda and used in real life.

Andrés M. | Satoshi Club:
For example how many BBR tokens can I farm if I have 1000 $fbbr or there is a minimum amount of tokens required??

Harry | Bitberry Finance:
Make Soda user to get into farming BBR.

Depends on the reward of each farming pool and its block reward rate.

We have several farming pool at the moment and will introduce more various pools in near future with different farming reward rate.

Andrés M. | Satoshi Club:
Thank you, so clear 💪

Gold Rocket | Satoshi Club:
By the way, share please BitBerry tokenomics with us.

Harry | Bitberry Finance:
Total Supply: 3,000,000 BBR (100%)

Liquidity Farming: 2,800,000 BBR (93.3%)

Dev: 200,000 BBR (6.7%)

Ryu:
Quite simple compared to others. It can be get from yield farming now.

And BBR token have lot of utility like this.

Andrés M. | Satoshi Club:
Thank you for the answer, anything else to add or can we proceed to the next question?

Gold Rocket | Satoshi Club:
Thanks a lot for the clarification!👍

Harry | Bitberry Finance:
We used to have 3000 eth TVL

Now around 1500~2000 eth.

Getting slowly increased.

Andrés M. | Satoshi Club:
TVL?

Harry | Bitberry Finance:
TVL is total locked value which indicates the current size of DeFi.

Andrés M. | Satoshi Club:
Oh thanks.

Gold Rocket | Satoshi Club:
Slowly but surely👍

Andrés M. | Satoshi Club:
Yes, less risk for a big project like that.

Ryu: https://info.uniswap.org/pair/0x6a475Be9D494f80218138C2280F9b4B42a309795

Gold Rocket | Satoshi Club:
Ready for the next question?😊

Harry | Bitberry Finance:
https://www.dextools.io/app/uniswap/pair-explorer/0x6a475be9d494f80218138c2280f9b4b42a309795

Andrés M. | Satoshi Club:
Let’s check these links Satoshi Club community 👏😃

Ryu:
Unlike other defi projects, Bitberry is based in strong ground.

Sure.

Gold Rocket | Satoshi Club:
@AndresM77 shoot🚀

Andrés M. | Satoshi Club:
Q2 from Telegram User @AmirJosh
Bitberry Finance is a DAO that are creating safe, easy, and profitable DeFi platform with merging pros of CeFi platform. Can you tell us what are the positive side of CeFi platform will Bitberry adopt and use in the project?

Harry | Bitberry Finance:
Still, there are many ppl who are not familiar with DeFi projects.

Gold Rocket | Satoshi Club:
That’s why there are such educational projects as Satoshi Club 😉

Ryu:
The most important thing is:

1. Helps people who are difficult to use to use easily. Cefi greatly reduces the difficulty for Defi.
2. It also performs security insurance. Many defi projects have rugpool-like problems. The Bitberry platform is ready for it. The problem with DeFi is that no one wants to take responsibility for security, but Bitberry takes responsibility for security.
3. Cefi promotes safe and easy use while avoiding regulations and kyc risk, which are the advantages of Defi.

Bitberry is Cefi + Defi.

Cefi is running on Bitberry wallet, people can download at appstore, playstore.

Gold Rocket | Satoshi Club:
Safety first!

Ryu:
Defi is running on Bbr.finance.

Bitberry have both.

From newbie to Defi fan, bitberry cover all users.

Andrés M. | Satoshi Club:
https://play.google.com/store/apps/details?id=com.rootone.wallet&hl=es&gl=US this one, right?

Ryu:
Correct.

You can download at apple appstore too.

Andrés M. | Satoshi Club:
Yes https://apps.apple.com/co/app/bitberry-safe-wallet/id1411817291

Gold Rocket | Satoshi Club:
I will definitely test this 😉

Ryu:
Indeed, vault investment is quite difficult for some ppl. Cefi support that part. It is also large part of crypto market too.

Andrés M. | Satoshi Club:
I’m still learning about DeFi, it is a complex term but with multiple use cases.

@BitberryRyu @syncw btw The high gas of the ERC20 network have represented any problem for the liquidity of the project?

Harry | Bitberry Finance:
Yes, we also see there is concern of rising gas issue in Ethereum network.

We can’t disclose everything right now, but we’re working on development with various network chains (platforms) in mind.

There are also considerations for exchange platforms, and things like dot and avax as well.

Ryu:
Yes gas fee is big problem. Team discuss lot for this issue.

But with raising price of ETH, lot of staking demands from korean market. Bitberry finance will absorb all of market demands. Because it is first and only Cefi+ Defi project from Korea.

Andrés M. | Satoshi Club:
Sure, it has been a big problem for projects and traders.

Great, next question is coming, are you ready?

Ryu:
Sure.

Gold Rocket | Satoshi Club:
Thanks for the answer!👍

Andrés M. | Satoshi Club:
Q3 Telegram User @Gutike95
You mention that BitBerry “provides payment solutions that can be easily applied online and offline”, which is great, but will it be compatible with any type of wallet? or only with your app?

Ryu:
Do you know Samsung?

Andrés M. | Satoshi Club:
Yes.

Ryu:
Samsung have blockchain wallet. And soda is listed that wallet.

100% of korean can use easily with samsung wallet.

Samsung is one of top global company. Ranked 1 company in Korea.

Gold Rocket | Satoshi Club:
It is very convenient! I want it too😁

Ryu:
And Soda can be swapped in Fbbr. This can be linked to Bitberry finance too.

Andrés M. | Satoshi Club:
Is that Blockchain wallet only for Korea?

Ryu:
Samsung wallet and Bitberry wallet.

That can be used foreigners too.

Lot of Vietnam users already use that.

Gold Rocket | Satoshi Club:
As far as I understand, you already have full mass adoption in your country. 🚀🚀🚀

Ryu:
So other countries ppl can buy lot of product in korea without any regulation.

With Bitberry wallet.

Gold Rocket | Satoshi Club:
Sounds great👍

When ppl visit Korea, ppl can order freely through Bitberry wallet.

Harry | Bitberry Finance:
SODA and BBR are the closest blockchain project to real life in Korea.

Gold Rocket | Satoshi Club:
Wow! it is very convenient!👏👏👏

Harry | Bitberry Finance:
Real-life friendly project.

Andrés M. | Satoshi Club:
It would be great to use it in other countries, are you planing to launch it for european markets?

Ryu:
At the first, southern eastern market is next target. Other market is planned too.

Gold Rocket | Satoshi Club:
Thank you very much for your answers! Want to add something or are you ready for the next question?

Ryu:
Sure ready.

Andrés M. | Satoshi Club:
Q4 from Telegram User @garrinepotter
How can we track statistics on your token? What crypto trackers have BBR added to and which one would you recommend to use?

Harry | Bitberry Finance:
https://www.dextools.io/app/uniswap/pair-explorer/0x6a475be9d494f80218138c2280f9b4b42a309795

Dextool is great tool showing the statistics of DeFi projects.

You can click the icons above.

Gold Rocket | Satoshi Club:
It really looks very comfortable!

I really like that you thought of all the details.

Andrés M. | Satoshi Club:
So clear I think.

Something else to add?

Or we can proceed to the next question?

Ryu:
Sure I can.

Andrés M. | Satoshi Club:
Q5 from Telegram User @wahibur04
In the medium I find that you will combine DeFi and CeFi. Could you please explain in more detail the mechanism about this, and what advantages will be created through this combination?

Part of this question has already been answered but maybe you could give us more details about this DeFi + CeFi union.

Harry | Bitberry Finance:
For CeFi user who are not familiar with DeFi, there are functions called Multiple farm and Smart farms.

• Multiple farm consists concept of accelerating yield farming. LP supply with BBR will accelerate farming up to 1.5~3 times faster than regular farming.
• Smart farm is an automated workflow that connects users’ action together. Bitberry Finance’s Zap feature will allow the users to directly exchange Ethereum into LP tokens while saving GAS costs by minimizing actions.

So one only needs just Ethereum without knowledge of swap, farming,

The function of Zap does all of the farming process automatically for user.

Ryu:
In addition, we plan to implement the Referral system, which is widely used in Cefi, as a smart contract in Bitberry finance.

Gold Rocket | Satoshi Club:
Please tell us more about this.

How I can make money on the referral program?

Ryu:
In centralized exchanges, the Referral system is issued by code. It is a centralized system.

However, this has not yet been implemented as a smart contract in the Defi world.

Bitberry finance dev team are developing this model in smart contract.

Andrés M. | Satoshi Club:
It is something innovative in the DeFi system.

Ryu:
Yes. This is not in defi world now.

It will be launched march~april.

Certik audit is ongoing now. 17~18th done.

Quantstamp contact and discuss now.

Gold Rocket | Satoshi Club:
Looking forward to the update! don’t forget to share with Satoshi Clubbers😉

Ryu:
Sure. That is world first model. Bitberry dev team try to make world first model of this smart contract.

Gold Rocket | Satoshi Club:
To be honest, it’s good that you said about the audit. Safety first.

Harry | Bitberry Finance:
Currently, the codes are being audited at Certik, and Quantstamp is also the one we are discussing for preparing additional audit. We want to provide safer service by receiving as many audits as possible and showing how secure the codes of Bitberry is to users.

Since such audits are not requested by small exchanges, but are only requested by large exchanges, Bitberry was forced to conduct audits. Moreover, since audits are almost compulsory for partnerships with large institution, we are conducting audits as part of the partnership.

Andrés M. | Satoshi Club:
We will be waiting for it.

Ryu:
Yes small medium exchange dont ask audit indeed.

Andrés M. | Satoshi Club:
It is true, it generates confidence.

Gold Rocket | Satoshi Club:
Thank you very much for your answers! ready to move on to the last question of this part?

Ryu:
Sure I can.

Andrés M. | Satoshi Club:
The last question before the live segment.

Q6 from Telegram User @Korryl
Farming schedule will be based on blockcount for liquidity farming, even you already give small example in your medium like
Farming Start time: 11483000 block
Farming Bonus time: 11533000 block
Farming End time: 12083000 block
But i still dont understand how is it work, can you explain what is the connection with our real time? Correct me if im wrong, is it same with 1 block = 1 second / 1 minute?

Ryu:
1block is block of ethereum.

So time is paired wuth Ethereum block time.

Andrés M. | Satoshi Club:
Thanks for the clarification.

Gold Rocket | Satoshi Club:
Thank you for the clarification. before the storm of questions share useful links and information with our community😊

Harry | Bitberry Finance:
For your info, currently 6528 blocks are generated per day as same as Ethereum.

Andrés M. | Satoshi Club:
So, high computing power.

Yes, please, some interesting links for our members.

Ryu:
@Bitberry_Official

This link is bitberry community. Our manager will explain kindly.

And we are open to hiring cm and running community event in this weeks.

Andrés M. | Satoshi Club:
Satoshi Club, let’s join if you didn’t.

Gold Rocket | Satoshi Club:
Dear guests @syncw and @BitberryRyu now we will open the chat for two minutes and you can have a coffee break. 😁

Andrés M. | Satoshi Club:
My favorite part.

Ryu:
Thank you for your kindness. Hope to join Bitberry finance.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Cengizhan Tekin

✅ It is said that fBBR token “does not have a specific price”. What does this mean actually? How does the mechanism of that token work and what is it used for?

Ryu:
Fbbr is paired with Soda coin, listed in bithumb Korea.

Harry | Bitberry Finance:
FarmBBR token($fBBR) is new concept in liquidity farming that will allow the users to securely save their original asset. fBBR Token is solely used to participate for the liquidity farming in Bitberry Finance.
fBBR’s price is determined by the ratio of fBBR and BBR.

Q2 from Telegram user @ Диего | Diego | ディエゴ | Satoshi Club | BCCore

What is SODA COIN and how can I get this token? What role does this play in your ecosystem and what uses can I use with this token?

Ryu:
You can buy at bithumb Korea. This can be used bitberry finance too.

Harry | Bitberry Finance:
You can buy SODA at Bithumb exchange.

Q3 from Telegram user @ Capital Goods

How can we buy Bitberry token? Is it thought uniswap with your contract address or can we connect our wallet and buy with any dex wallet?

Harry | Bitberry Finance:
https://app.uniswap.org/#/swap?inputCurrency=0x7671904eed7f10808b664fc30bb8693fd7237abf

Ryu:
This is listed in uniswap, you can type BBR.

Q4 from Telegram user @ Gutierrez04

If the registration and the start of the session is so simple, then in case I lose the line or the phone, can anyone enter my account and transfer my capital without any problem? or will various verifications be required for each withdrawal?

Ryu:
You can email help@rootone.com

Q5 from Telegram user @ Topind

BitBerry is such a great project, but how can one by BBR can you give me steps to take to buy BBR?

Harry | Bitberry Finance:
You can either buy BBR at Uniswap or Farm it.

Ryu:
Go to uniswap and type BBR.

Bbr Eth pair.

https://www.dextools.io/app/uniswap/pair-explorer/0x6a475be9d494f80218138c2280f9b4b42a309795

Q6 from Telegram user @Kevin Salom

🔥 You comment that the FarmBBR token ($ fBBR) will allow users to securely store their original asset. I don’t fully understand this, what is the reason for this security, will this not work as a $BBR value dependent token and be subject to the characteristic volatility of the market? Please explain this to us.

Ryu:
Fbbr is paired to Soda coin. For better security for swap, we decided it to use Fbbr

Harry | Bitberry Finance:
fBBR is basically swapped from SODA token, which secures their original SODA assets when swap back.

The swap ratio of fBBR and SODA is fixed.

Q7 from Telegram user @  o0s$a4l

In theory, the good thing about the dex is its decentralization and that it does not require KYC, what difference does this DEX have if you must have KYC for its use?
@BitberryRyu

Ryu:
Yes dont need KYC at bitberry finance.

Q8 from Telegram user @ Elena

A Zap is an automated workflow that connects users’ action together that will allow the users to directly exchange Ethereum into LP tokens while saving GAS costs by minimizing actions, how long has been Bitberry meaning to put this out for the public to harness, do you have a date for it over the next months?

Harry | Bitberry Finance:
Zap is already launched and used for DeFi noobies. 🙂

Q9 from Telegram user @ Robocop

In your medium I read People should own BBR Token for equivalent 10000 USDT to possible participate at Bitberry Smart Farm and BBS ( Bitberry Season 2 ), can you describe what are the different between BBS and Bitberry Smart Farm? Can you explain why is it worth it to invest 10.000 USDT and what the benefit that user will get?

Ryu:
BBS will be used Bitberry dex’s token.

For getting BBS, BBR should be needed.

Smart farm is farming without difficult procedure. Ppl can deposit eth and get interest.

BBS ll be used for utility of Bitberry dex.

Q10 from Telegram user @ Khalee

***How will you incentivize BitBerry community for them to stay, continues support and to use the services offered by BitBerry wallet? What activities are you going to conduct to achieve project’s goals?
@BitberryRyu @syncw

Harry | Bitberry Finance:

• BBR will be used as a fee of Bitberry wallet. In the future, when the users select BBR as a transfer fee, they can get a 50% discount in token transfer.
• In addition to transfer fee discount, if the users use CeFi fund product(Deposit & Earn) that runs within Bitberry wallet with BBR, they can get a 50% discount from operation fee.
• Vault strategy contract will include BBR-only Vault contract which will require BBR to participate.
• Bitberry Smart Farm with the concept of proxy farming in the future, lower-level farmers can be hired only by depositing BBR. The users need to hold certain amount of BBR in order to earn commission from sub armers as additional bonuses, which can lead to bigger rewards in the future.
• In the tentatively named BBS (Bitberry Season 2), LP supply using BBR would accelerate the farming up to 1.5 ~3 times faster than regular farming. therefore, holding a certain amount of BBR at all times will be a way to secure the rewards from Bitberry Smart Farm and Bitberry Season 2. The users should own a BBR equivalent to at least 10,000 USDT in order to gain an edge in the proxy farming conducted at Bitberry Smart farm.

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:

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Our partners:

For more information on Bit Berry tokens, please refer to the link below!

Website🍓
https://bbr.finance/

Telegram(ENG)🍓
https://t.me/Bitberry_Official

Medium🍓
https://bitberryfinance.medium.com/

Twitter🍓
https://twitter.com/bitberryf

Github🍓
https://github.com/bbr-defi

Etherscan🍓
https://etherscan.io/token/0x7671904eed7f10808b664fc30bb8693fd7237abf