Welcome to another episode of our AMA
series. Today we are glad to tell you about the AMA session with our friends
from GamyFi.
GamyFi is a Gaming and E-Sports Platform Powered by Elrond. The AMA took place on March 28 and our guests were @SPJ_GamyFi and @rbhrd. The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello
Satoshi Club! We are happy to announce our AMA session with GamyFi! Welcome to
Satoshi Club.
D. | Satoshi Club:
our today’s guests – @rbhrd and @SPJ_GamyFi! hello guys, welcome to Satoshi
Club! how is it going?
SPJ | GamyFi: Hello
Guys
Mary | Satoshi Club: If
everyone is great let’s start our journey to the Gamyfi world! Could you please
introduce yourself and tell us more how did you start with GamyFi?
SPJ | GamyFi: I’m
Satya Prakash Jena. I’m one of the co-founders and Head of Operations at
GamyFi. I have multiple years of experience in Blockchain technology and
Fintech. @rbhrd is my colleague Rahul Sharma. He’s also a co-founder and Head
of technology. He has 7 years of experience in software development and
management.
We like cricket, football and other sports very much.
Fantasy sports allows you to be a part of the sports, get in the seat of the
captain. But there are multiple problems with the current applications
providing such services. They are bound to County restrictions and also use
fiat payments making them slow and highly taxable (up to 50%).
We were aware of blockchain technology and also the good
uses. Therefore, we decided to build a fantasy sports Platform where anyone
from any country can play with any person on earth. Without County restrictions
and smooth payments while also being able to withdraw earnings within a minute.
Mary | Satoshi Club:
How many members are in your team?
SPJ | GamyFi: 8 developers
3 management staff. We’re just team of two at start, but now
we’re a strong team
Mary | Satoshi Club: And
how many time passed from idea till creation? Are you a young project?
SPJ | GamyFi: It’s
been 5+ months. We have been developing since November.
Q1 from Telegram user
@MihaiPisica
I saw on your medium
some details about rules to join IDO on GUMPad, but anyway I’m a bit confused.
It is written you will have there 3 pools. But I don’t quite understand why
there are different formats for each, what’s the idea? in the 1 pool, there
will be 50 slots, but it’s not clear how they will be allocated. In the second
there is a whitelist, but the format is “first come, first serve”. Does it mean
the firsts one who fills the whitelist? Ok, but how many slots are there (there
are not indicated)? The 3rd’s one format is a “Lottery” – but again, no slots
indicated, not the mechanism of lottery, and so on. In order to all this, can
you give us details? And another question regarding GamiFy IDO – will we need
ETH or USDT in order to participate in IDO on GUMPad?
SPJ | GamyFi: you
can confirm whitelist details from GUMpad, this is a whitelist FCFS, you need
to reach certain criterias to get whitelisted. The IDO will be with USDT. If
you can’t get whitelisted.
No worries. You can try BakerySwap or DODO.
They don’t need whitelisting. DODO is open for all while BakerySwap
requires BAKE holding. More details herehttps://link.medium.com/eBZi3HPyXeb.
D. | Satoshi Club:
so BakerySwap and DODO will be your first exchanges?
SPJ | GamyFi: Uniswap
and BakerySwap.
Mary | Satoshi Club: Nice
details! Thank you! Hope everyone who want will be able to buy.
SPJ | GamyFi: Moreover,
listing price is 1$.
Q2 from Telegram user
@yellowchamp
One of the attractive
core feature of Gamyfi is having a Community incentive in which 51% of the
Company Profits go to the GFX token holders. Hold GFX on the platform to
receive Quarterly Incentives. Is there a minimum amount of $GFX to hold to be
eligible for the incentive? Why do you decide it to be quarterly but not
monthly? So aside from this incentive given to GFX holders, do you plan to add
other incentives for the Community especially to early adopters and the loyal
supporter of Gamyfi? Thank you.
SPJ | GamyFi: There
is no minimum limit. We considered Quarterly distribution better to Reward the
long term holders and to bring more stability. There will be more benefits of
holding GFX. GFX holders get certain amount of free entries to pools and also
power-ups, fee discounts.
Mary | Satoshi Club: Users
will need to claim this quarterly incentive or you will send them directly to
their wallets?
SPJ | GamyFi: Directly
to app wallet.
Mary | Satoshi Club: As
I understand you will have erc20 token from the beginning, right?
SPJ | GamyFi: Our
token is a cross-chain token, ERC20 and BEP20.
Mary | Satoshi Club: You
will distribute both for erc and bsc holders, right? I mean that eth gas fees
are huge now, so distribution will cost money, even if it’s done quarterly.
SPJ | GamyFi: Yes
Any GFX token deposited to the app is eligible for Incentives
Q3 from Telegram user
@Korryl
I think Partnership is
a good way if a project wants to spread and growing fast. Actually I already
check that GamyFi just make agreement with Crust Network, can you tell us what
are the great result that both GamyFi and Crust get from this collaboration?
Also do you have plan to increase your partner in nearly future, if you don’t
mind can you share which project is it?
SPJ | GamyFi: Partnerships
are not only good for spreading the word but also for better product. We are
always looking for features we can integrate to our platform for the benefit of
users. We have partnered with Crust Network to bring IPFS storage security for
our user’s data and NFT marketplace. We have also partnered with Elrond to
build the fantasy sports with a team and action explorer. Users can scan their
selected teams, wins without any centralized control. We are also working with
multiple other partners to deliver cool games and products for our community.
More will be announced soon.
Mary | Satoshi Club: Are
you looking for partnerships only in the cryptoworld?
SPJ | GamyFi: No,
also in real world. Our Fantasy Sports app requires data from real world
(sports matches). It requires updating every minute which no crypto world
project can provide.
Mary | Satoshi Club: Gotcha!
You already have great partners and we’re expecting even more news from you
about partnerships!
Q4 from Telegram user
@h1drX
GamyFi has an “NFT
Gaming and Marketplace” space, which consists of users being able to exchange
NFT in the market and play with them. What types of NFT’s are there in GamyFi?
Are they useful in a certain game? Can a user create their own NFT’s? Does
E-Sport provide NFT’s to the platform?
SPJ | GamyFi: We
are Launching our own NFT marketplace in Q2. GamyFi and multiple other BEP721
NFT’s can be traded on the Platform. GamyFi Platform brings more usecases to
NFT’s. On GamyFi Platform, users earn NFT’s for reaching certain achievements
and winning leagues. These NFT’s can be used to get power-ups on the platform,
get discounts on fees and also can be sold out in marketplace. User’s will be
able to create own NFT’s on GamyFi in Q3.
D. | Satoshi: Club: so
your NFTs won’t be available on ethereum?
Mary | Satoshi Club: You
were first.
SPJ | GamyFi: Not
for now at least. Who is willing to play with 10$ by paying 20$ gas?
Anyone?
D. | Satoshi Club: haha
yeah, makes sense.
Mary | Satoshi Club: It’s not me
definitely.
Q5 from Telegram user
@sofiaisla
You mention that
GamyFi is the first Hybrid Fantasy gaming platform that will allow even
non-crypto users to join the platform. Can you explain why they are called
“Hybrid Fantasy” if they only have sports-type games? Do you plan to include
this type of Hybrid Fantasy game later? Also, how does this protocol work to
ensure that non-cryptographic users can join? What will happen to the rewards
or the handling of crypto in GamyFi? Do you have any strategy for new users to
learn about cryptocurrencies?
SPJ | GamyFi: Hybrid Fantasy Sports means
combination of Blockchain and off-chain technology to bring the best. We use
traditional strategies with the help of Blockchain (Elrond) to bring up an easy
to use, secure and scalable Platform. Users don’t need to learn uniswap,
Ethereum, Blockchain etc……. We will do that for you. You just need an e-mail to sign up. But a
blockchain wallet is required if you are interested in NFT’s.
Mary | Satoshi Club:
Do you have any video or articles about this? Visualization always woks good!
SPJ | GamyFi: No
other Platforms has this kind of services and also no Platform provides
features as much we do. That’s why we are the first Blockchain Fantasy Sports
application. Users can understand that when they use the platform.
We are working on a guide for the platform. The beta will be
live in a few weeks.
Mary | Satoshi Club: Everyone
will be able to participate in beta?
SPJ | GamyFi: Yes,
Private beta will run for a week for the winners of our beta contest and then
we’ll open it for everyone.
Mary | Satoshi Club: Awesome!
Sure, we will try it we like betas.
D. | Satoshi Club: are
there any possibilities that you will integrate bank card paying function in
the future? for non-crypto users, who could pay with fiat?
SPJ | GamyFi: We’ll
Integrate transak to grab some GFX/USDT on the platform.
Q6 from Telegram user
@RosemaryBianco
In your roadmap
exactly in the third quarter (Q3), you plan to integrate the iOS mobile APP
launch. Could you explain me how this app will work? Will it only be available
for iOS and not for Android? Will users be able to play and trade GFX tokens
through your APP?
SPJ | GamyFi: The
Fantasy Sports Android app will be Launched in Q2 and then we’ll Launch the iOS
version in Q3 or end of Q2 if possible. Users can play with GFX tokens on the
app and swap GFX – USDT.
Mary | Satoshi Club: So,
Android app will be even faster. Btw, usually swaps in apps are expensive, what
about your app?
SPJ | GamyFi: It
will be feeless.
Mary | Satoshi Club: Fantastic
then I will be your user.
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The
chat was open for 120 seconds; a lot of questions were posted by Satoshi Club
community. Our guest chose some of them.
Q1 from Telegram User@atillayeni
Why don’t you have a whitepaper on
your website? Is it not published because of the security?
SPJ | GamyFi: We
haven’t yet published a whitepaper. We believe on real products rather than long
meaningless text. And moreover due to the value of the idea and project. We
have been copied twice. We don’t want anymore copies before we Launch.
Q2 from Telegram User @Wormz28}
BETTING and LOTTERY are one of the
features of GamyFi aside from its Fantasy Sports. So can you tell us what are
the specific events your users can bet on your betting platform? Also how about
the lottery, can you tell us too how it actually works and how’s the process in
choosing your lottery winners and how do you manage the fairness for all?
RS | GamyFi: So
we will start with the prediction market for Sports and then move to economy,
entertainment, real events. And for lottery fairness we will use randomness
using Chainlink
Q3 from Telegram User@Dahyor4
From your site it says Gamyfi is
community driven, which means users can make proposals to improve the
protocol. What is the minimum token
requirement a user must hold before he can make proposals? Will each proposal
taken into consideration go through a voting process by the community for final
acceptance or rejection?
SPJ | GamyFi: Yes,
GamyFi is Community driven project. A minimum of 10,000 GFX (0.1% of max
supply) is required to make a Proposal on governance Platform. Any proposal
with more than 500,000 GFX in support will be taken in consideration and
implemented as long as it doesn’t hurt the project
Q4 from Telegram User @mctrho
Can you tell us a bit about the Quad
IDO that GamyFi will be holding on March 29 at 12:00 PM UTC on BakerySwap
Launchpad, Zendit Launchpad, DODO DVM and GUM-pad? How can users participate?
SPJ | GamyFi: Users
require to be whitelisted in Zendit and GUMpad which is now closed. But
BakerySwap and DODO is open for all. You need to have certain amount of BAKE to
take part of in BakerySwap IDO. DODO is open for all and no rules apply. But
it’s a bonding Curve and price increases with each purchase. Learn more about
it here
What is the use case of GamyFi Token?
Can I earn $GFX token from a prediction game and spend it on another game or
can I stake the token I earn from games?
RS | GamyFi: Yes
there will be couple of games from where you can earn GFX tokens.
Q6 from Telegram User@cindy_crypto
How do you plan to mix NFTs, gaming
and blockchain together and working game right now?
SPJ | GamyFi: Our
platform Rewards NFT’s to users for reaching certain milestones and finishing
tasks. The NFT’s can be used in game to get power-ups and get fee discounts.
The game will be launching in Q2 with NFT marketplace.
Q7 from Telegram User @csgonub
You know, gaming industry is really
huge and more than tens of billion-dollar industry. What is the speed of your
system? Do you think blockchain technology is fast enough to keep up with this
speed?
RS | GamyFi: Yes,
you are correct solely blockchain cannot provide the good user experience when
it comes to the games with sports segment we will be combining multiple tech
work to provide the best user experience
Q8 from Telegram User @lzamg
I’m sure that many users will be
attracted to GamyFi because they are fans of sports or gaming, but probably a
lot of them won’t have much knowledge about crypto, so how inclusive is your
platform in this matter? Are GamyFi and its products easy to comprehend and
use? Or do users need to have at least a basic understanding of blockchain?
SPJ | GamyFi: Users
don’t need understanding of blockchain. We do the Blockchain work for our
users. You can sit back and enjoy the game without drawbacks. GamyFi uses
hybrid Blockchain technology for that. And you can also buy GFX with fiat soon.
Q9 from Telegram User @mobilejii
Could you please give us $GFX metrics
and token distribution plan and explain about its utility and usecases?
Are the incentives the same for all
GFX holders irrespective of the amount of GFX hold by a user or the higher the
GFX held, the higher the incentives?
RS | GamyFiIt
will be based on your holding the as per users.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about GamyFi. A link to a
Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were
distributed between the winners.
For more information and future AMAs, join our Social Media
channels:
Hello,
Satoshi clubbers Another AMA took place in Satoshi Club and we would like to
introduce to you the AMA session with our friends from Centaur and our guest
was @james_cntr – Co-Founder of Centaur. The AMA took place on 30 March.
The
AMA session was divided into 3 parts with a total crypto reward pool of 1000$
In
this AMA Recap we will try to summarise the most interesting points for you.
Part
1 — introduction and questions from the Telegram community
Gold
Rocket | Satoshi Club: Hello,
dear community! We are pleased to announce AMA with Centaur!
D.
| Satoshi Club: and
our guest – @james_cntr – Co-Founder of Centaur! welcome! good to see you in
Satoshi Club!
James
| Centaur: Hey!
Pleased to be here
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi Club,
@james_cntr!
We
are very excited about the upcoming AMA😊🚀
D.
| Satoshi Club: yes
we are 😃
James
| Centaur: I’m
just as excited to share with you more about Centaur!
Gold
Rocket | Satoshi Club: Let’s
start!
Introduce
youreself. How did you get to be involved in crypto & Centaur?
It’s
always interesting. How people get into this amazing crypto world😁
James
| Centaur: I’ve
actually been an entrepreneur for more than a decade and came across a few tech
companies specialising in blockchain. After reading up more into it, I really
believed in the technology and started working on ProDeFi (before we rebranded
to Centaur) back in 2019, together with my Co-Founders Sean and Dhanraj. Our
vision was to bridge the gap between CeFi and DeFi by leveraging on the
strengths of both aspects and building new and unique solutions in the space!
D.
| Satoshi Club: cool!
bridge between CeFi and DeFi this is sounds very interesting 😊
Gold
Rocket | Satoshi Club: That
sounds good
What
is the essence of Centaur?
By
the way, why did you decide to rebrand?
James
| Centaur: When
we first came up with the name ProDeFi, the term “DeFi” had not
really caught on yet. But in the middle of 2020, it exploded in popularity as
we are all aware and afterwards, we decided to rebrand to Centaur as we felt
that it encapsulates our hybrid approach to DeFi
At
its core, Centaur’s goal is to bridge that gap and encourage larger scale
adoption of blockchain technology, whether it be from institutional or retail
investors. We’re building up a suite of products that would be able to service
both markets and support the blockchain ecosystem!
Gold
Rocket | Satoshi Club: What
plans do you have for the future? And what can we expect from Centaur?
James
| Centaur: So
currently, we are about to launch three major products:
31st
March (TOMORROW)
Hadar
Wallet, a multi-asset, multi-address, multi-purpose wallet that is built for
DeFi integrations
14th
April
Centaur
Swap, a next-generation AMM that utilises oracles to allow for single-side
staking, IL mitigation and cross-pairing, while preventing oracle frontrun
attacks
28th
April
Centaur
Chain, our mainnet that will support cross chain transactions and settlements
while providing a backbone for enterprise users.
These
products are meant to strike a balance between retail and institutional
onboarding
Gold
Rocket | Satoshi Club: This
name really has a deep meaning, besides, it is beautiful… Constellation of
the centaur… symbolic…👍
Thank
you very much for the great intro! Ready for community questions?🚀
James
| Centaur: Yeap!
D.
| Satoshi Club: 🚀🚀🚀
Q1
from Telegram user @NataliyaKil
You
have announced the launch of the Hadar wallet. The wallet will be available for
download on the Google Playstore on 31st March 2021. How will a new user
register in the app? And what methods of user authorization and data protection
will be used: e-mail address, SMS message to the phone, biometric data or
secret phrase?
James
| Centaur: Great
question! One key difference is that we are working on a email + password
authentication structure and the seed phrase is generated locally on the device
so the user does not have to copy it out. The seed would then be encrypted by
the password before it is stored on the cloud which ensures that it is secured
and nobody else can access it, while still allowing synchronization across
various devices. For security, we have enabled Google Auth 2FA and SMS
verification, with plans to include biometrics too. Users would also be able to
individually export their private keys if they want to store it elsewhere.
D.
| Satoshi Club: awesome!
i wanted ask you about the private keys, but you already gave an answer 😄
James
| Centaur: Hahaha,
security is definitely the highest priority for us!
D.
| Satoshi Club: how
many cryptocurrencies will be supported by your wallet?
Gold
Rocket | Satoshi Club: Do
your users need to pass KYC?
James
| Centaur:We
currently support Bitcoin, Ethereum and all ERC20 custom tokens. We plan to
onboard more chains in the near future!
No
KYC is required as the wallet is non-custodial in nature, we will not store any
of your personal details 👍
D.
| Satoshi Club: 👍 i suppose it would be BSC tokens 😉
Gold
Rocket | Satoshi Club: Good
news. 😉
James
| Centaur: That’s
definitely on the list!
Gold
Rocket | Satoshi Club: Can
we proceed. Or you want to add something?
James
| Centaur: Lets
move on to the next question!
Q2
from Telegram user @mctrho
According
to the project roadmap, in Q2 you will launch the Integration of Cross-chain
Transactions and the Integration of SEA Entities. Can you talk a bit about
these advances? What benefits can it bring to the project and the community?
Can you explain in more detail what the Integration of SEA Entities consists
of?
James
| Centaur: So
we’ve been in talks with a few different enterprise partners in the Southeast
Asian region. These partners are mostly fintech companies that are keen to
leverage on the benefits of blockchain technology and we are exploring certain
angles on how we can add DeFi technologies and methodologies to better service
their users too.
Of
course, the primary focus areas would be capital optimisation through crypto
platforms (such as yield farming solutions) but we’re also exploring remittance
and peer-to-peer payments to see how they can be implemented
Gold
Rocket | Satoshi Club: these
are very popular destinations today. I think you are in trend. 🚀
By
the way, please share your complete roadmap with us.🙏
James
| Centaur: For
the roadmap, we’re primarily focusing on both the decentralised and centralised
aspects concurrently. As you can see from the product launches, the bulk of it
are very blockchain centric, with the Hadar wallet, AMM and mainnet coming up.
Once they are deployed, we’ll focus on upgrading them to improve the services.
This would mean adding more chains and features to Hadar and to support more
tokens or protocols for Centaur Swap.
On
the CeFi side, the roadmap is more contingent on the business development
aspects. As you may be aware, traditional markets move at a slower pace (or
rather, the crypto industry moves at a very fast pace) and certain discussions
require much more time and pilot testing before they can be rolled out.
absolutely
right! thank you very much for your answer! ready for the next question? 🙂
James
| Centaur: Yeap!
Q3
from Telegram user @meml97
On
you whitepaper you said that Centaur proposes a DeFi solution with centralized
elements with the ultimate aim of moving towards a fully decentralized model.
So, with this in mind, what solution do you plan to bring to the table, and
what centralized elements do you want to incorporate on Centaur to reach this
goal of yours? How will centralized elements help you on this purpose? Also,
could you please explain me how would a project with centralized elements move
towards a fully decentralized model? Because that is something that I don’t
really understand and I would like to.
D.
| Satoshi Club: very
popular question, i think you faced this question many times in different forms
😄
James
| Centaur: Yeah
this is something that crops up pretty often haha. I think most people are
concerned about how centralised solutions can be applied while still having a
core ethos of decentralisation in place. However, a significant portion of
blockchain history involves centralised intervention. Even Ethereum had to
perform a reorganization after the DAO hack and Bsc is also quite centralised
at present. Ultimately, our goal is to use some aspects of centralisation to
complement the DeFi parts of our solutions.
Take
Centaur Swap for example, the platform is fully powered by smart contracts and
open sourced, and users can freely trade and add liquidity to the pools.
However, the listing process will have to be centralised at the start as there
are certain criteria that have to be met (oracle price feeds would be one
requirement). In time, we plan to transition the listing decisions to a DAO,
which helps to gradually turn it into a more decentralised platform.
D.
| Satoshi Club: got
it! so you trying to combine the best of both worlds – CeFi and DeFi 😇
James
| Centaur: That’s
exactly it!
D.
| Satoshi Club: thank
you for the good clarification! 👍 ready for the next question?
James
| Centaur: Lets
do it!
Q4
from Telegram user @Beterror203
How
the decentralized network of Oracles works in different contracts that have or
integrate different chains to channel transactions and preserve
interoperability since in this face it is the most important for me since an
error in time would be a threat to the ecosystem since can collapse how do you
avoid that?
James
| Centaur: I’m
sorry can you rephrase that 😅
D.
| Satoshi Club: haha
i thought you will understand this 😄 maybe he wants to know about your
oracles model? 🤷
i
thought it was a good technical question 🤣
James
| Centaur: Hmnn
okay I think I’ll take this chance to explain how we prevent oracle
front-running on Centaur Swap. Our AMM uses an execution-and-settlement model,
meaning that when you first click on swap, it locks the price and starts a
short countdown timer (3mins currently). After 3 mins, you can click on
settlement to receive the tokens. If the price increased in that time, the
extra tokens due to the price increase are forfeited but if the price goes
down, your original rate will still be retained. This settlement process
prevents people from frontrunning the oracle price updates and entering large
trades before major pumps.
D.
| Satoshi Club: thank
you for the detailed answer! if you are ready we can proceed to the next question?
James
| Centaur: Yeah
sure!
Q5
from Telegram user @MaxiVV
I
read that Centaur has received support from numerous partners to accelerate the
growth and development of the project. The first group of partners are those
who hold licenses in various jurisdictions. What kind of licenses would
interest you in the future partners? What is the aim of this till now?
James
| Centaur: Yeap
we have access to licenses in the UK/EU region primarily and for now, we’re
focusing our efforts towards increasing access in the SEA region as there’s a
very large and serviceable market here that lacks access to banking and
financial infrastructure.
With
the right support, we hope to be able to change that!
D.
| Satoshi Club: thank
you! @GoldRocket27 do you have any additional questions? or we can proceed to
the next question? 👀
James
| Centaur: I’m
ready for the next one if Gold is good!
Gold
Rocket | Satoshi Club: what
benefits do you plan to get from your partnerships?
James
| Centaur: For
now, we’re looking for more established players in the fintech space who would
be able to help us gain access to the emerging markets there and assist on user
onboarding, as that is the primary choke for real-world adoption.
Gold
Rocket | Satoshi Club: I
saw quite well-known names on your website. would you like to share with us?
James
| Centaur: Sure!
We’ve been working with quite a few of our partners on cross platform
integrations. Recently, one of the deeper partnerships was with Open Defi and
the Unifarm initiative. Further back, we did a stakedrop program together with
Elrond and we have plans to work with them on a deeper level in the near
future. We’ve also had the pleasant opportunity to work with Chainlink for our
public sale and might be doing more with them in the coming weeks. Lastly,
there’s actually a partnership announcement going out in a few minutes
regarding out newest partner who will be supporting us on infrastructure for Hadar!
Gold
Rocket | Satoshi Club: Hope
Satoshi Club is the first to hear this amazing news. 🙏😉
James
| Centaur: Apart
from the two teams, Satoshi Club is definitely the first to hear about it!
Gold
Rocket | Satoshi Club: Thank
you very much for your reply! 😊 Ready to proceed to the last
question of this part?🚀
James
| Centaur: Yeap!
Q6
from Telegram user @victorogb
For
your Asset Management service, it’s stated that investors can vote on the fund
structure through the Centaur contract and verify the breakdown of funds across
the various protocols. At what stage is an investor eligible to have such
privileges, are there existing prerequisite to guarantee such or it’s just a
general consensus and how is the voting process carried out via the Centaur
contract?
James
| Centaur: This
is going to utilise a combination of transparency and current DAO structures.
The investments and wallets will all be publicly announced so investors can
track and verify the movement of funds. For voting, we’re exploring different
mechanism and looking in to how current DAOs are designed but it will most
likely utilise general consensus for simplicity
Gold
Rocket | Satoshi Club:Great
answer!
Finally
could you remind us again about your
upcoming product launches?
James
| Centaur: For
sure! Here are the three upcoming products!
31st
March (TOMORROW)
Hadar
Wallet, a multi-asset, multi-address, multi-purpose wallet that is built for
DeFi integrations
14th
April
Centaur
Swap, a next-generation AMM that utilises oracles to allow for single-side
staking, IL mitigation and cross-pairing, while preventing oracle frontrun
attacks
28th
April
Centaur
Chain, our mainnet that will support cross chain transactions and settlements
while providing a backbone for enterprise users.
Gold
Rocket | Satoshi Club: Satoshi
Clubbers! pay attention to these events!!!🚀🚀🚀
D.
| Satoshi Club: Q2
will start in good and productive pace! 💪
@James_CNTR
big thank you for answers in part 1! we will open chat for 2 minutes, after
chat will be closed – you can start select questions from Satoshi Сlub members!
James
| Centaur: Ready!
Part 2 —
live questions from the Telegram community
Since the HADER WALLET
seed phrase will be encrypted with users email/password in the cloud, does it
mean it will be impossible to import the asset in this wallet to other
non-custodial wallet like metamask or trustwallet since they do not have
email/password feature? Won’t it be possible to import or synchronise this
wallet across other devices?
James | Centaur: Hey! In order to import your assets, you’ll have to
export either the private key or seed phrases and add them to the other wallets
like metamask or trustwallet. I think this is the common industry practice so
far, as platforms like Hadar and Metamask do not store the private keys for the
users due to security implications.
Q2 from Telegram user @Nataliyakil
In the near future you
are planning to launch several products: Centaur Wallet – 31st March 2021,
Centaur LP (Swap) – 14th April 2021 and Centaur Chain – 28th April 2021. What
is the most significant event, in your opinion, for Centaur?
James | Centaur: All three projects are equally significant but I think
the platform that may be the most familiar to investors and users in the DeFi
space would be Centaur Swap. Our team has worked very hard on it and we have
many new innovations added to the current DEXes as enhancements and upgrades.
This whitepaper (http://docs.cntr.finance/)goes
through in detail some of the improvements we have added!
Q3 from Telegram user @Antoni_azx
I followed up on previous
statements made by your team and I could see that you will be focusing on $
BTC, $ ETH and $ ERC-20 assets at the moment, can you tell us the reasons for
working with these chains first? Why not include BSC which could be much more
beneficial in relation to fees?
James | Centaur: BSC is definitely something we would work towards
onboarding but we wanted to focus much more on the Ethereum ecosystem because
that is where the bulk of the DeFi activity is taking place and the protocol is
also much more stable.
Q4 from Telegram user @AmirJosh
Centaur will launch its
Hadar mobile app wallet on March 31, 2021. And user registration on the Hadar
mobile app is done through email and password. Is there any possibility that
users can have access with their wallet addressess private keys for safekeeping
if ever there is an event that your app might be down or cannot be access?
James | Centaur: Yes, the private key and seed phrases can be exported
and stored separately. They are also compatible with all other wallet providers
and can be imported in seamlessly. This means that your funds are secured even
if the servers go down or the app is inaccessible,
Q5 from Telegram user @Alika061
Staking, Farming and NFT
are things that are arguably progressing, is there a plan for you to include
products in $CNTR tokens for staking or maybe #Centaur will create NFTs to
expand the community?
James | Centaur: Staking and farming are supported by the upcoming
launch of Centaur Swap! We’ve got some new and innovative models we’re working
on and we’ll share more about it in the coming days. Do stay tuned to @CNTR_ANN
and @OfficialCentaur to find out more!
Q6 from Telegram user @MihaiPisica
Hello Sir @James_CNTR
I’m looking at your site,
there are a lot of cool features and user-friendly design. Accessing your
Roadmap, I don’t see anywhere something about Audit. In case of a hack-attack,
do you cover assets loss due to your smart contract attack? How can you assure
us about security risks such as flash loans, token mining and price oracle
manipulation attacks? Is there that your testnet can harm some modifications to
the code?
James | Centaur: All our codes are audited by both internal and
external auditors. We have two separate dev teams who build our products and
cross audit the work internally, after which we engage third party auditors to
verify the security of the platforms. We have been working closely with Red4Sec
in the past for our Token Contract and Staking programs!
Q7 from Telegram user @snewe10
At the moment , where you
are focusing right now ? building and developing product or getting customers
and users, or partnerships ? Could you share it?
James | Centaur: We have been laser-focused on product development as
we believe that it is core to our company. Along the way, we do meet strong
partners (as I shared earlier) and we’re always keen to work with likeminded
projects. We’ve just announced our collaboration with Pocket (POKT)
(https://t.me/OfficialCentaur/67811) as we are working together on an infra
level for Hadar!
Q8 from Telegram user @realtrizmalli
How can we investors be
sure that this will not be similar to other projects that were making waves but
suddenly disappeared into thin air, are your contracts public and somewhere we
can see?
James | Centaur: Our contracts are all verified on Etherscan and
audited by third parties. We have also covered this topic extensively with our
community as the $CNTR token contract is not mintable and does not utilise a
proxy.
Q9 from Telegram user @Bogotas
Southeast Asia is a very
active market and many projects are being developed here. So for your project,
how do you view Southeast Asia and what development plans are there?
James | Centaur: Our core team is based in Singapore so are definitely
able to leverage on our networks to break into the Southeast Asian market.
We’ve also had the opportunity to work with different projects and many
likeminded people here who are working towards similar goals. For now, we’re
looking to expand into the neighboring regions such as Indonesia and Malaysia!
Q10 from Telegram user @NataliyaKil
In an article in Medium
on March 22nd, you announced that the LP mining rewards for Uniswap CNTR-ETH
pool will be reduced from 200,000 to 100,000 effective today, 22nd March 2020.
Date is correct, maybe 2021?
Why was the decision made to lower the awards
and how is the situation today?
James | Centaur: This was a recent decision we made in order to lower
the rate of inflation for CNTR. Initially, the rewards were 200,000 weekly which was about $2,000 to $2,500. However, we
have seen very favorable price action in the past few months and had to adjust
the rates. This means that LPs will still earn similar rewards while the rest
of the ecosystem benefits from less value dilution.
Part 3 – Quiz Results
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about the crypto project. A link to a Quiz
form was sent into the chat.
For
more information and future AMAs, join our Social Media channels:
The educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Persistence. The AMA took place on March 29th, 2021, and our guest were @tusharaggarwal @abhitejsingh.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap, we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold
Rocket | Satoshi Club: Hello, dear community!We are very glad to conducting AMA with
Persistence! Today our guests are @tusharaggarwal @abhitejsingh!
Abhitej
Singh | Persistence 🦾: Hello everyone! Great to
back here with the ever-growing Satoshi Club community.
Andrés
M. | Satoshi Club: @tusharaggarwal @abhitejsingh
how’s going your day guys?
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi
Club, @tusharaggarwal and @abhitejsingh!😊 And we are
very happy to see you again and very excited about the upcoming AMA.😊
Abhitej
Singh | Persistence 🦾: Would say very busy with Mainnet launch, token listing on 1st April,
AMAs and partnerships but this is the best feeling 🚀
Andrés
M. | Satoshi Club: That’s the aptitude we need,
congratulations for all that coming events 🥳👏
Gold
Rocket | Satoshi Club: I hope you can tell us more
about this.🙏
Abhitej
Singh | Persistence 🦾: Absolutely we will talk more about all of this today’s AMA.
Gold
Rocket | Satoshi Club: Let’s start! @abhitejsingh Introduce
youreself. How did you get to be involved in crypto & Persistence?
Abhitej
Singh | Persistence 🦾: Hello Everyone,
I am Abhitej Singh and I take care of
Strategy and Community at @Persistenceone. My introduction to Crypto was in
2016-2017 while I was travelling across
different parts of India and the US. I was very fascinated by the core
characteristics of Crypto and Blockchain in general – ownership and
transparency. So, after initial introduction I jumped into Crypto completely in
late 2018.
Before joining Persistence, I was helping a
couple of early stage startups (now backed by Ola and Livspace – unicorns in
India). I was also actively involved building communities for Google, facebook
and co-founded national hackathon in India called Code2Create.
I met Tushar and Deepanshu (Co-founders) in
2019 at a Blockchain Conference and really liked the vision they had and joined
them back in November 2019. Here we are building @PersistenceOne.
I also co-founded Cosmos India with Tushar
and Deepanshu.
Gold
Rocket | Satoshi Club: Great background and great
intro! 👏
Andrés
M. | Satoshi Club: Happy to know that more about
you, that will make the AMA more familiar
Gold
Rocket | Satoshi Club: What is the essence of your
project? How long does it take to develop a project? What plans do you have
for the future? And what can we expect from Persistence?
Abhitej
Singh | Persistence 🦾: A lot of questions together. Let me take them one by one.
Gold
Rocket | Satoshi Club: Of course ☺️ take your time please.
Abhitej
Singh | Persistence 🦾: In simplest
terms, Persistence is creating ecosystem of financial products which will have
debt financing, borrowing/lending, DEXs, Fixed income generators etc.
To dive a little deeper:
Persistence is an interoperable protocol
built to facilitate the creation of next-gen financial products. The
Persistence tech stack provides the infrastructure to effectively bridge the
realms of DeFi and traditional finance in a variety of areas, whilst also
enabling the creation of innovative crypto-facing solutions to expand the DeFi
and NFT sectors.
Persistence is operating at the confluence
of NFTs + DeFi + PoS Staking. We have already developed a full suite of
financial products:
♦️Comdex:
Institutional-facing commodities trading and trade financing platform. Handled
over $55M in transaction volume.
♦️AUDIT.one:
Staking-as-a-service infrastructure. Currently over $200M in assets under
management.
♦️pStake: Liquid
staking product unlocking liquidity of staked assets.
♦️pLend:
Stablecoin lending platform backed by real-world assets.
♦️Asset Mantle:
Interoperable NFT marketplace framework, enabling the creation of
‘Shopify-style’ NFT marketplaces.
Learn more about our mission and product
ecosystem here: https://buff.ly/2NWnFE3
We have been building Persistence since
2019 and we have built all three-layers:
– Network Layer
– Persistence SDK
– Application layer
This allows to develop very comprehensive and user-friendly applications. And it’s the same reason we have institutional as well as crypto-native application in our ecosystem.
This is will give
everyone a fair idea of how our technology is stacked.
Andrés
M. | Satoshi Club: Wow, a big g ecosystem that
faces the problems of the users👏
Gold
Rocket | Satoshi Club: Nice infographic!👍
Abhitej
Singh | Persistence 🦾: We aim to become the largest suite of financial products (Both
crypto-native and institutional applications).
We are already on a great start with
Comdex, pStake, AUDIT.one, Asset Mantle and pLend. But this is just the start.
You can find all our upcoming updates in
our latest roadmap: https://persistence.one/roadmap
But some of the key updates will be:
Token Sale: 31st March 2021
Mainnet Launch: 30th March 2021
Staking Interface launch: 1st April
Exchange Listing: 1st April
pStake Launch: April/Early May 2021
Asset Mantle launch: Q2 20201
Exchange listings expansion: Q2 2021
Done ✅
Andrés
M. | Satoshi Club: Exchange listing? Where are you
going to be listed?
Gold
Rocket | Satoshi Club: Big thanks👍
Abhitej Singh | Persistence 🦾:
#XPRT #TokenSale
The bulls are charging towards AscendEX
(formerly BitMax) for Persistence’s XPRT token sale, launching on March 31st! 🚀
💎 The
XPRT token sale will take place on leading global exchange AscendEX (formerly
BitMax) on March 31st. The sale will be in auction format, with 1M XPRT tokens
available for participants.
🛡 During
our fundraising rounds we built a strong network of Persistence crusaders.
We’re now thrilled to give the wider community the opportunity to secure XPRT
tokens and join our journey!
📈
AscendEX will then list XPRT via a XPRT/USDT trading pair following this
schedule:
Andrés
M. | Satoshi Club: Time to go with our first
question
Q1 from Telegram User @carolina0012
The SDK is constantly expanding to
accommodate new types of use cases and dApps entering the Persistence
Ecosystem. However, with the modules already available, the trade and trade
finance journey can cover the onboarding of organizations and their employees,
providing relevant access rights to onboard employees. Is the use of
fingerprints also applicable to make documents verifiable?
Abhitej
Singh | Persistence 🦾: This is an interesting question. Persistence SDK is equipped with
multiple modules that have the capability to be full-fledged projects
themselves.
The objective with Persistence SDK is to bring the advantages of Web 3.0 (Trustlessness, Immutability, Auditability etc) at the same time have Web 2.0 experience.
Some of the modules in Persistence SDK. As I
understand, fingerprints are a way to authenticate the identity, Persistence
has multiple modules that incorporate identity management and authentication as
well as also deal with sensitive data through document provenance and Access
Control Rights. Persistence SDK by it’s designed is without doubt one of the most
comprehensive and sophisticated toolkit for developers and in future we will
add more features as mentioned by you.
Gold
Rocket | Satoshi Club: it is very interesting!
Andrés
M. | Satoshi Club: An amazing concept, how do you
compete with your direct competitors? What features make you different?
Gold
Rocket | Satoshi Club: Which of the modules is the
most interesting for you personally?
Abhitej
Singh | Persistence 🦾: Persistence is essentially not competing with other chains or
protocol, we are building an ecosystem of products that are interoperable.
Our current application suite resides on
Ethereum, Cosmos and Persistence. In future we aim to build bridges to
ecosystems such as Polkadot, BSC etc.
Andrés
M. | Satoshi Club: I see, you are looking for a big
adoption
Abhitej
Singh | Persistence 🦾: That being said, we do have competitors for individual products, for
example:
pStake: Stafi, Lido finance
Comdex: Centrifuge
AssetMantle: Mintbase
Gold
Rocket | Satoshi Club: Bridges between blockchains
are really very important today! 👍
Abhitej
Singh | Persistence 🦾: Our goal is to bring value from different ecosystem and find ways to
build syngeries with complementing protocols and projects. In my
personal opinion, the only way this industry will succeed if they protocols and
networks can co-exist.
Gold
Rocket | Satoshi Club: I like that you offer
complex solutions. Gold words👏
Andrés
M. | Satoshi Club: Completely agree💪
Abhitej
Singh | Persistence 🦾: Same rationale goes behind very close partnership with Terra. We
will be using Terra’s Stablecoin ecosystem in our applications in absence of
our own stablecoin.
Gold
Rocket | Satoshi Club: thanks a lot explanations!
ready to proceed to the next question
from the community?☺️
Abhitej
Singh | Persistence 🦾: Personally I love interNFT module. interNFT is very powerful module
which will change the way we know NFTs today. Currently NFTs just exist in
Ethereum ecosystem due to absence of proper standards across other chains. In
addition to that ERC-721 or ERC-1155 NFTs cannot flow to other chains and NFTs
from other chains cannot flow to Ethereum. This is a huge barrier in NFT
growth.
Gold
Rocket | Satoshi Club: I also think it is a very
promising direction!
Abhitej
Singh | Persistence 🦾: interNFT is a module that is standardising NFT and Metadata across
chains and we were awarded with a grant as well for our work with interNFT by
Interchain Foundation.
Andrés
M. | Satoshi Club: Thanks for the clarification,
NFT is a hot topic, I think that module would provide big solutions
Abhitej Singh | Persistence 🦾: Today interNFT is supported by the leading projects such as Polkadot, Kusama, Cosmos, Secret Network, Keep Network and many more.
Gold
Rocket | Satoshi Club: Congratulations🎉it is always a pleasure to
get high marks for your work! many famous and familiar names. 😊
Abhitej
Singh | Persistence 🦾: Let’s go
Q2 from Telegram User @yiselen
The architecture allows dApps to operate
in isolation without being affected by Increased transaction loads experienced
by other dApps in the chain – this becomes imperative to provide a seamless
end-user experience and meet user expectations institutional. Why is the main
persistence chain being boosted? What is the Byzantine consensus algorithm?
Abhitej
Singh | Persistence 🦾: Persistence main chain essentially acts as hub for all the
application in the ecosystem and the key actions such as governance,
incentivisation/deincentivisation, public records can be executed here.
As the Persistence ecosystem grow (already
4 application operating) the value of Persistence chain and it’s governance
token $XPRT will significantly grow.
And can talk more about the XPRT token and
it’s utility further in the AMA.
Andrés
M. | Satoshi Club: Could you share details about
the tokenomics of XPRT?
Andrés
M. | Satoshi Club: Thank you so much, I think the
answer is so clear for us, would you like to add something before the next
question?😃
Abhitej
Singh | Persistence 🦾: Let’s proceed
Q3 from Telegram User @meml97
One thing that made it into the news all
around the world this weekend was your recent announcement that Zurich-based
investment firm Tavis Digital, a spin-off of Tavis Capital, an asset manager
regulated by the Swiss Financial Market Supervisory Authority (FINMA), has
partnered with Persistence. Can you tell us more about this partnership? What
are the benefits both parties will get from this? And specially how will this
help you to pave the way for building that brigde between traditional financial
and crypto?
Abhitej
Singh | Persistence 🦾: Persistence has been working on both institutional and crypto-native
use-cases since the start. Our goal is to work on the following core
things:
– Accessibility
– Liquidity
– Sustainability (Fixed Income)
With same respect we have been building
different projects and cater to the needs of the both institutional and
crypto-native users.
Gold
Rocket | Satoshi Club: What other partnerships do
you have in your plans? What do you
expect from these collaborations
Abhitej
Singh | Persistence 🦾: The partnership with Tavis Digital has following benefits:
– Provide the institutional investors
accessibility to the PoS and DeFi assets
– Bring Liquidity into the Crypto ecosystem
– Grow the adoption of Crypto
– Provide sustainable income to the
institutional users (in times of negative returns in the traditional finance)
– Abstracting the complexities of Crypto
for the institutional investors
This is only one of many institutional partners
that we are working with. We will be disclosing our other partners as well in
coming months.
Gold
Rocket | Satoshi Club: Thank! I will definitely
check it out! This is a great achievement!👏👏👏
Andrés
M. | Satoshi Club: Congratulations, we will be
expecting to know more about your new partnerships👏
Abhitej
Singh | Persistence 🦾: Let’s proceed.
Q4 from Telegram User @AugusS7
You mention that you want to make
real-world and digital assets, such as invoices, collectibles, and art, more
accessible, but how would they really be more accessible? converting some bills
into NFT tokens? I really don’t understand
Abhitej
Singh | Persistence 🦾: Let me break down this process in simple terms for you. Like how
Pepe the Frog is unique, every ‘real world’ asset is unique. Pepe the
Frog has certain unique characteristics similar to every commodity or business
invoice having unique characteristics. Like how you would be able to trade
frogs or monkeys or digital art..similarly once something is represented on
chain, it can be traded.
We’ve been
working with NFTs for a long time in this context. The Interchain
Foundation (foundation governing Cosmos) gave us a grant recently to create
‘interchain’ standards for NFTs. Read here: https://medium.com/persistence-blog/persistence-one-first-to-implement-interchain-native-nft-transfer-bags-icf-grant-cdb6c3856c25
This is similar to how ERC721 has become
the NFT standard within Ethereum ecosystem.
Andrés
M. | Satoshi Club: Haha I like so much the
reference😅
Abhitej
Singh | Persistence 🦾: The key information from the real-world assets such as invoices
(Invoice Number, Invoice amount, payable date etc) are extracted and attached
to a digital representation of these assets (Metadata).You may ask how do we
verify the authenticity of these NFTs. Here is the answer:
We work with multiple third parties to
check the authenticity of the ‘real world’ assets. Whether those real world
assets exist. Once that verification is done, then they are brought on chain.
Proper underwriting (insurance) is in place to mitigate any counterparty risk. Since our
initial focus is cross border trade and physical commodities – some of the
regulatory complexity is removed as trading of ‘physical’ commodities is
lightly regulated. Biggest compliance is KYC/AML which we comply with. Some news
about Comdex: https://www.business-standard.com/article/pti-stories/comdex-completes-over-10m-worth-of-commodity-trade-processes-119110800600_1.html
Third party verifiers who are whitelisted
need to have the original copies of the documents. These could range from
insurance agents, auditors, trade financiers etc who are skilled in checking
this. The documents could be digital also – not only paper based – PDF
etc. But authenticity will be verified. In the spirit of
decentralisation there will be multiple third parties. Another analogy can be
drawn from Beeple’s NFT auction with Christie’s. Where Christie’s translated
the off-chain reputation of Beeple to determine the value of the NFT.
Andrés
M. | Satoshi Club: Thank you for the detailed
answer, all this process has been audited or is in process to be?
Abhitej
Singh | Persistence 🦾: Over time we will see most of these assets exist only digitally
on-chain and the off-chain authentication wouldn’t be required but at the
moment we are in very early stage of the industry itself. Yes, Comdex
is an institutional product and it needs to comply with certain standards and
security checks. And we aim to do similar audits for all our future institutional
products as well.
Done ✅
Andrés
M. | Satoshi Club: Great work, is an important
topic to increase the users trust and security. Let’s proceed with
the next question😃
Q5 from Telegram User @Michelth
Mainly Focused on Institutional
Investors and Borrowers Persistence Through shared security, the main chain can
protect application chains. For what purpose does the persistence team work
closely with Family Offices and SMEs?
Abhitej
Singh | Persistence 🦾: Unlike western world most of the conglomerates and businesses in
Asia are owned by family offices. With the hyper growth these family offices
are looking for best alternatives to expand their businesses. For that
matter, Comdex is also backed by a billionaire family in India and a
commodities trading organisation in Singapore. We want to work
closely with family offices to drive more adoption and bring more capital into
Crypto. On the other hand, most of the SMEs don’t have the accessibility to
huge capital and enough liquidity such as large corporations to operate their
businesses seamlessly. The process to gain accessibility or liquidity in
traditional finance industry is very tedious and time consuming. Hence we want
to leverage the abundant capital in the Crypto space to finance the real-world
businesses. This will create a very balanced demand and supply scenario which
in return will bring massive growth to both sides.
Gold
Rocket | Satoshi Club: Yes, that’s a good decision.
Family business symbolizes reliability!🤝
Abhitej
Singh | Persistence 🦾: That’s essentially what we mean by bridging the gap between
traditional finance and crypto. Creating a balanced supply and demand. This is
allow the crypto holders sustainable income and ensure the growth of the crypto
industry.
Done ✅
Gold
Rocket | Satoshi Club: Mass adoption in action! Are you
ready for last question of this part?
Abhitej
Singh | Persistence 🦾: Yes let’s go.
Q6 from Telegram User @Gutike95
Persistence is focusing on both
institutional and native cryptographic use cases, but is it really with the
goal of being the transitional bridge between Cex and Dex? Or could you really
keep working both digital institutions and traditions over time?
Abhitej
Singh | Persistence 🦾: As I mentioned above Persistence is a suite of financial products
which include DEXs, Marketplaces, Lending/Borrowing applications.Comdex
for example is a marketplace and have institutional users. In coming
month we will launch pLend which is a Stablecoin aggregator (Liquidity product)
which have two functions:
– Allow the users of different dapps in the
Persistence ecosystem (Asset Mantle, Comdex, pStake etc) to put their assets as
collateral and borrow stablecoins
– Provide high-return for the liquidity
providers on their stablecoins
So our approach is not to build just
standalone product which exist completely disconnected rather build products
which can bring value to each other. Although, if any dapps wants to build in Persistence
ecosystem in a completely siloed manner they can. So to conclude it
will be combination of DEX +
Marketplaces
Andrés
M. | Satoshi Club: Before to the second part of the
AMA, could you share with us details about the coming token sale? How to be
part?
Abhitej
Singh | Persistence 🦾: We have created a simple explainer: https://buff.ly/31sqPmt
Andrés
M. | Satoshi Club: Thank you, it would make the
process easier for our members interested on it 😃
Andrés
M. | Satoshi Club: @abhitejsingh thank you so much
for your time and for share your knowledge in this first part of the AMA, It
has been and exciting and interesting segment🥳👏
Gold
Rocket | Satoshi Club: I understand correctly? here
are the main products you offer: comdex, audit, pstake, asset mantle and plend.
Abhitej Singh | Persistence 🦾: Yes these are the products we have publicly communicated. There are more under development in the background.
Part 2 — live questions from the Telegram community
Q1 from Telegram User@fromabove6
What
sets you apart from your competitors?
Abhitej Singh | Persistence 🦾: As I mentioned, the greatest
advantage for Persistence over the competition is the unique position of
operating at the confluence of PoS + NFTs + PoS staking.
We have already built 4
products, namely:
– Comdex – Decentralised
Commodity Trading Marketplace with more than $55 Million in Transaction volume
– AUDIT.one – Validator arm
of Persistence.one with more than $125 Million worth of assets under delegation
– pSTake – Liquid Staking
platform with best returns and user experience for the PoS stakers
– Asset Mantle: NFT
Marketplace framework which will allow any user to spin up their own NFT
marketplace – Shopify of NFTs
Some of the other advantages
are:
– One of the best validator
set in the industry
– Strong partnerships with
leading crypto foundations, protocols, networks as well as large traditional
institutions.
– Persistence is building
all layers – network, SDK and application layer which cut down on any external
dependencies
– The token utility rewards all the $XPRT holders from the cash flow from all the applications in the ecosystem
Q2 from Telegram User@meml97
🧨 Since your token sale on AscendEX is
barely a few days away, can you tell us more about your token $XPTR? I read
that it’s main function is being a token governance for the Persistance
Platform, but can you give us more details about how will it be useful for users
that want to participate in governance decisions? Also, what other functions
will $XPTR have? Will it be a work utility token?
Abhitej Singh | Persistence 🦾: The token plays 3 keys
roles:
1. Staking token (similar to
other Tendermint based chains like Band, Kava, Terra, Iris)
2. Governance of the chain
(not app)
3. Work token (stakers and
delegators receive cashflows from the pStake and Comdex dApp as well as other
dApps in the future)
The biggest advantage is as the Persistence ecosystem grows (we are already working on shipping multiple projects) the value of $XPRT will grow. Hence providing immense ROI for the XPRT holders.
Here’s a simple illustration to understand the same.
Q3 from Telegram User@lastcalll
NFT
is a good option for every project, how you will evaluate this option. Or do
you have other priorities?
Abhitej Singh | Persistence 🦾: Very good question, thank
you for bringing it up.
Persistence has been working
on NFTs since 2019 even before the NFTs became so popular and hot topic.
Our vision since inception
has been to operate on the confluence of NFTs + DeFi + PoS Staking.
We are not swayed by the
trend but working on creating long-term value by developing utility for NFTs
beyond art and collectible, for example tokenising business invoices, ownership
documents etc.
Q4 from Telegram User@KeymerS
Could
you really give us more detail on NFT Asset Mantle? Will it be totally
innovative or will it be very similar to the NFT Marketplace frameworks of many
other platforms?
Currently we are leading the working group of 20+ projects to develop these standards that include Polkadot, Cosmos, Kusama, Akash Network, Secret Network etc.
Q5 from Telegram User@feranno
What
conditions should I meet to participate in the public sale of XRPT?
Abhitej Singh | Persistence 🦾: You can see detailed
requirements and eligibility here: https://buff.ly/3siaBIy
I
read on your website that $XPRT holders
can delelgate it for stacking, so no one except holders can stake on
persistence network? How much is the apy % returning? @abhitejsingh
The Persistence Mainnet is
Launching on March 30th! Introducing Our World-Class Genesis Validators 🚀
🦾 After more than two years
of relentless ideation and development, we’re thrilled to announce that the
Persistence mainnet is going live tomorrow, March 30th, with 20 genesis
validators!
🔥 This will signal the
official birth of the Persistence network and the next major milestone on our
journey to usher in a new financial paradigm.
🔒 Persistence has onboarded
some of the world’s top validators, which collectively secure over $7B worth of
assets across multiple networks. We are committed to ensuring the utmost
security and robustness of our network.
💎 From April 1st, XPRT
holders will be able to delegate their tokens to our validators for staking
(35% APR in the first year).
🌐 Read here to learn more
about our mainnet launch and to meet our world-class validators: https://buff.ly/2P8iSRf
We invite you to celebrate
this monumental occasion with us. Here’s to the next exciting chapter in the
journey of Persistence! 🥂
+ AscendEX (Formerly Bitmax)
[Token Adoption and Growth]: https://bitmax.io/en/marketing/xprt
Q8 from Telegram User@RosemaryBianco
I
really found it interesting that you ran several “StakeDropp” campaigns
to distribute your native XPRT tokens. So I would like to know, why you have
decided to do this distribution through Staking? campaigns. And what is the
existing relationship that Persistence has with these contributing projects? Do
you plan to integrate more projects in the future?
All the 7 networks selected
for the StakeDrop campaign align with the long-term vision and objectives of
Persistence. Some of the those are:
♦️Tendermint-based chains:
Cosmos, Kava, Iris, Terra
♦️Interoperability:
Polkadot, Cosmos
♦️DeFi: Kava, Terra, Iris
♦️NFTs: Matic
♦️Bridging traditional
finance and DeFi: Tezos
The other key factors with
these networks that ensured the success of StakeDrop:
♦️Geographically
distributed: Cosmos, Polkadot, Tezos (Global), Kava (the US), Iris (China),
Terra (South Korea), Matic (India)
♦️Significant market
capitalisation
♦️Strong staking community
with high staking ratio on the network
♦️Synergies to work with
these projects for Persistence ecosystem products such as pLend, pStake, Asset
Mantle
In case someone wants more details:
Currently we are running StakeDrop campaign to distribute 1% of our entire token supply. We have already completed the campaigns for Cosmos, Kava, Terra
COMDEX will have what kind of commodities? gold, oil? and which oracle will then use to track the prices?
Abhitej Singh | Persistence 🦾: Currently we are using the institutional oracle solutions but we are seeing more and more crypto oracles such as Chainlink and Band Protocol are working on bringing real-world data on-chain. We will be working with similar oracles in future to get more decentralised data in our institutional or real-world focused dapps.
Q10 from Telegram User @K2ice
The team has been busy building Persistence for the
past two years. By now, there should have been some Influencers/biggest minds
in crypto delving into Persistence’s value propositions and future. Can you share
with us how you have been able to deal with this and what more should users
expect in the nearest future?
Abhitej Singh | Persistence 🦾: lot of influencers and
industry pioneers have been closely looking at Persistence and in touch with
us.
The same can be seen in the list of advisors on our website, we have onboarded some of the most recognised faces in the crypto as well as institutional space.
One of the video I could
fetch to show the hype among the influencers:
https://www.youtube.com/watch?v=MuY3073171Q Time and again we have been covered by the influencers
as most anticipated project.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Persistence. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
Luis Merino 🇪🇸 | Satoshi Club: Hello everyone and welcome to another AMA session with Satoshi Club. Yes guys, don’t worry… Your favorite moderator is back 😜😂
Our guests today are from a huge project, Orion Protocol.
@timotheahorwell, welcome to Satoshi Club 😊 it’s a pleasure to
have you here.
Andrés M. | Satoshi
Club:
Welcome @timotheahorwell, we are glad to have you here👋
Timothea | Orion
Protocol:
Pleasure to be here!
Luis Merino 🇪🇸 | Satoshi Club: How are you today?
Timothea | Orion
Protocol:
Very well thanks! And yourself?
Andrés M. | Satoshi Club: We are excited to know more about Orion protocol😃
Luis Merino 🇪🇸 | Satoshi
Club:
I’m doing great too! Hyped about this AMA 🎉
Andrés M. | Satoshi
Club:
🥳
Luis Merino 🇪🇸 | Satoshi
Club:
So please, Timothea, as an introduction, can you tell us a few words about
yourself?
And also, give us a short introduction to Orion Protocol 😉
Timothea | Orion Protocol: Me too 🙂
I’m Timothea and I’m CMO of Orion Protocol. Over the last decade I’ve worked with tech companies in the data, mobile, and fintech space – from building business strategies at a start-up incubator, through to Head of Marketing and Research at Telefonica. I joined Orion Protocol last year when I met with some of the team – led by Alexey Koloskov, the creator and Chief Architect of the Waves DEX – and realized that what they were building had the potential to revolutionize trading by creating a much needed portal to the entire crypto market!
Orion Protocol was born out of the need to solve three major issues in the crypto landscape: liquidity, fragmentation, and centralization.
Fragmentation of liquidity has started to wear thin on traders, increasingly frustrated with high spread, high slippage, lack of trading pairs, and the need for multiple accounts on different exchanges.
Luis Merino 🇪🇸 | Satoshi Club: Great background 👀😊
Timothea | Orion
Protocol:
Not to mention, the majority of liquidity is held on centralized exchanges,
meaning traders have to risk their assets in order to trade!
Timothea | Orion
Protocol:
What started as an ambitious plan in 2018 to decentralize CEX liquidity became
a mission to create the first decentralized portal to the crypto market: Orion
Terminal.
Luis Merino 🇪🇸 | Satoshi Club: You are right
Timothea | Orion
Protocol:
In three days, on March 31st, 2021 at 5pm UTC, Orion Terminal’s public Main Net
goes live. Users can access global liquidity from major centralized exchanges,
directly from their wallet, on one decentralized platform – marking the beginning
of the future of trading. We have ~100,000 users who already applied for early
access to the terminal!
Andrés M. | Satoshi Club: Satoshiclubbers let’s join this great platform😃
Luis Merino 🇪🇸 | Satoshi Club: I have already joined 😏
Timothea | Orion Protocol: Love that 😄
Andrés M. | Satoshi
Club:
Timothea, thank you so much for this interesting introduction, we have
collected some community question for the first part of the AMA
Timothea | Orion
Protocol:
Great! Look forward to hearing them 🙂
Andrés M. | Satoshi Club: Let’s go🥳
Q1 from Telegram User @ninoska0012 The integration of Avalanche into the Orion Protocol marks a major step forward for Orion as an independent exchange aggregator in the chain. While many multi-chain aggregators require end-users to select the separate chains and operate with the available tokens in that chain. Do the multiple chains built into Orion Terminal remain on the back end? How is the user experience?
Timothea | Orion
Protocol:
Absolutely! As a decentralized gateway to the digital asset market, Orion
Protocol has, and always will be, chain-agnostic. Indeed, many multi-chain
aggregators require end-users to select the separate chains and trade on the
tokens available on that chain. However, the multiple chains integrated into
Orion Terminal remain in the back-end for a seamless user experience. Upon
launch, Orion Terminal will be on Ethereum and Binance Smart Chain, with
Avalanche and Elrond scheduled for Q2
The multiple chains remain in the back-end for a user experience more akin to that of a CEX – but without surrendering your assets.
Andrés M. | Satoshi
Club:
Great work, I’m excited to see that officially😁
Timothea | Orion Protocol: Within the terminal, we have the order books of connected exchanges aggregated into one order book. For example, you can see orders from Binance, AscendEX (Bitmax), and Kucoin on the right.
Andrés M. | Satoshi Club: What about the fees? Could the users receive benefits by trading levels?
Timothea | Orion Protocol:
On Orion Swap, users only need to sign one trade for complex swaps without direct trading pairs (e.g. GRT > ORN) resulting in lower fees and faster execution.
Luis Merino 🇪🇸 | Satoshi
Club:
And how about the trading pairs? How many are there?
Timothea | Orion Protocol: Orion Terminal launched phase one of Main Net on the Ethereum blockchain. Since then, Orion has integrated and is in the process of integrating other chains compatible with the EVM (Ethereum Virtual Machine) for scalability, accessibility, and interoperability across multiple chains – while reducing costs.
Our expansion to BSC halves wait times for off-chain order
execution and on-chain order settlement. Transactions on BSC cost 135x less
than they currently cost on Ethereum, making commissions for deposits,
withdrawals, order execution, etc. on the terminal negligible.
Terminal users can save 20% on trading fees by using ORN. For trades that don’t use ORN, the trading fee is used to market buy ORN and permanently remove from circulation
On March 31st, around forty of the most liquid and popular pairs will be available across ETH and BSC, including BTC, ETH, LINK, DOT, ADA, YFI, UNI, OMG, GRT, BNB, and more.
Luis Merino 🇪🇸 | Satoshi Club: 20% not that bad 👀
Timothea | Orion
Protocol:
As the ecosystem grows, so will access to pairs. Orion will introduce a voting
mechanism into the protocol to introduce new pairs each week:
Voting
will be on-chain so only ORN holders can vote
Voters
will be able to choose from several assets and pairs weekly
Holders
will be given three days to submit their vote
Initially, new pairs will be proposed by Orion and voted on
by ORN holders. In time, this will become entirely decentralized, with ORN
holders proposing new pairs and voting on them. We wanted to give our community
as much control as possible in the selection of trading pairs available on
Orion Terminal, by starting with the most liquid pairs and allowing ORN holders
to vote moving forward.
Luis Merino 🇪🇸 | Satoshi Club: Thank you! 😊👍 Sounds great
Timothea | Orion Protocol: Indeed! There are lots of benefits to holding ORN.
Timothea | Orion
Protocol:
We’ve ensured deep utility of the token across the entire protocol, integrating
it into all main transactions to take the form of an internal currency or
utility token. ORN will give holders a range of benefits, plus additional
functionality including discounted trading, advanced features, protocol access,
and lucrative staking returns.
Andrés M. | Satoshi Club: So, which will be the main benefits for ORN holders different to that one?
Timothea | Orion
Protocol:
Users who hold ORN tokens will be able to unlock additional premium services on
the platform. ORN holders will be able to set advanced trading orders that are
not available to other users, such as controlling Stop Loss and Take Profit
parameters.
Holding ORN will also provide benefits for other products across the roadmap, including first access to Orion Margin Trading (the first 100x decentralized margin trading) and Orion Lending (aggregating lending APRs from centralized and decentralized providers for the best available rate).
But most of all, holding ORN enables the most profitable staking in DeFi, launching in Q2 🙂
Luis Merino 🇪🇸 | Satoshi Club: Can we know the APY?
Or is it a secret? 😅😅
Timothea | Orion Protocol:
Well, there’s no set APY as it’s determined based on several staking
parameters:
Protocol Daily Volume: This is the expected amount of
transactional volume that Orion Protocol has daily. What makes Orion different
to other aggregators/exchanges is that their protocol volume includes volume
from flagship product, Orion Terminal, combined with the volume from all other
DeFi products (including Liquidity Boost Plugin, DEX Kit, Enterprise Trade
Widget, and Launchpad Liquidity). Some of these solutions will already be
generating revenue prior to staking launch: ORN holders could yield huge
staking rewards from our B2B products alone since all transactions from B2B
products are executed via our Brokers.
Total ORN Staked: The current amount of ORN staked on Orion
Protocol. When main net staking is live, this number will display the live
amount of ORN staked on the Protocol (current circulating supply: 20 million,
of which ~12 million is staked).
Your ORN Staked: The amount of ORN you want to stake on
Orion Protocol. Please note, there is no minimum to stake.
ORN Market Price: The market price of ORN to determine the
USD value of your stake. As the volume increases, consider increasing ORN
Market Price to avoid an unrealistic APY.
Lockups: Rewards are compounded daily if you choose to receive them in ORN, and will be distributed to your stake automatically. Stakers can opt for no lock-up, 7 days lock-up, or 1-month lock-up, with the APY increasing with the lock uptime.
Andrés M. | Satoshi Club: Then is the perfect opportunity to buy 😁
Timothea | Orion
Protocol:
We’ve created a staking calculator (calc.orionprotocol.io) to allow holders to
determine their lucrative rewards. If, for example, we amassed the same daily
volume as SushiSwap (not even taking into consideration our B2B partnerships),
this volume would yield over 175% APY for ORN holders at current market price.
The returns are even more lucrative with increased volume from our B2B
partners.
To some, this could sound too good to be true… The yield-farming industry, rife with rugpulls, has left many skeptical of ‘unbelievable APYs’. Furthermore, some projects are able to offer high APYs due to the inflationary nature of most staking mechanisms, simply minting new tokens for rewards.
Luis Merino 🇪🇸 | Satoshi Club: Oh… My… God…
Timothea | Orion
Protocol:
Unlike other inflationary staking models, Orion staking rewards are not
generated through minting new tokens. ORN is supply-capped at 100m (though it
will never reach that due to a number of strategic methods to remove tokens
from circulation), and new tokens will never be minted.
Instead staking rewards are generated through volume from Orion Terminal, combined with the volume from all other DeFi products, some of which will be generating revenue prior to staking launch. As such, unlike other exchanges or aggregators, ORN holders could yield huge staking rewards from our B2B products alone. 🤑
Luis Merino 🇪🇸 | Satoshi
Club:
Thank you for your complete answers, Timothea
Are you ready for the next question? 😊
Timothea | Orion
Protocol:
I am indeed!
Luis Merino 🇪🇸 | Satoshi
Club:
@AndresM77 shoot it 🚀
Q2 from Telegram User @Gutike95 Now that we’re with the recent NFT token boom, could this really further increase the innovation Orion brings to projects that create their stores on it? How will the NFTs benefit those projects? Will they be able to create and sell it with Orion?
Timothea | Orion
Protocol:
Assuming they mean Orion, not Origin 😉
However, we recently announced that we’re building the first NFT aggregator – aggregating every NFT marketplace into Orion Terminal
Much like the wider crypto industry, NFT assets are fragmented across multiple marketplaces, with each marketplace competing for volume and visibility. By their very nature, NFTs are unique digital assets that cannot be replicated. As a result, sellers have to choose the marketplace they think will yield the best price for their assets, while buyers have to hop between multiple marketplaces to find the assets they’re looking for.
Orion Protocol is built on the most advanced liquidity aggregator ever developed, and will soon aggregate every digital asset exchange into one decentralized platform. It acts as a gateway to the fragmented crypto market, aggregating the liquidity, order book depth, and trading pairs of the market into one portal. In doing so, Orion Protocol will be the first platform that sits between the end user and the entire crypto market, including NFTs 🙂
Andrés M. | Satoshi Club: I hope😅, btw is interesting how this hot topic has influenced Orion protocol
Timothea | Orion Protocol: One point of access to NFTs will benefit seasoned NFT traders by reducing the need to trade across marketplaces while increasing accessibility of NFT assets to a wider userbase.
perhaps most critically, most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any ERC20 token for an NFT via a complex swap.
Indeed! Our business development team are always looking to build and expand depending on market needs
Luis Merino 🇪🇸 | Satoshi Club: Any ERC20 token. Sounds good. How are you going to deal with high gas fees?
Timothea | Orion
Protocol:
We have a few solutions in place, we’ll be releasing more info soon 🙂
Andrés M. | Satoshi Club: I see, DeFi, NFT, you are always in 👏
At the forefront I mean
Luis Merino 🇪🇸 | Satoshi Club: Looking forward to that new info. Gas fees are overwhelming 🤯
Timothea | Orion Protocol: 🙂 We’re constantly building. Through partnerships and internal development, Orion Terminal we want to become the portal to the crypto landscape. Additional features to be added this include lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, decentralized copying, and staking of any digital asset type.
Tell me about it 😣
That’s why we’ve already integrated BSC into the terminal, and look forward to integrating Avalanche and Elrond in the comng months!
Andrés M. | Satoshi Club: Yes, is interesting how do you provide solutions for that liquidity problem, could it represent a threat to Orion terminal?
Timothea | Orion Protocol: Not at all, Ethereum is an essential part of the ecosystem to enable integrating other chains compatible with the EVM (Ethereum Virtual Machine) for scalability, accessibility, and interoperability across multiple chains. We’re chain-agnostic though, and can add new chains as we see fit 🙂
Luis Merino 🇪🇸 | Satoshi Club: 💪💪
Timothea | Orion
Protocol:
The Ethereum network is incredibly expensive right now, but BSC ensures the
fees are minimal on the terminal
Andrés M. | Satoshi Club: Great work It seems you have everything under control💪
Thank you for this detailed answer, do you want to add something else before the next question?🥳
Timothea | Orion
Protocol:
Let’s move on to the next one 🙂
Q3 from Telegram User @Wormz28 On the website, I’ve read that one of your future features is the Staking of any digital asset type, and offering stakers high rewards is of the utmost importance to you. So how’s the process in Staking on Orion Protocol and how do you generate your Staking Rewards? Also, when is the exact release date of Orion’s Main Net Staking and is there a sign up for us to be notified as soon as Orion’s Main Net Staking goes live?
Timothea | Orion
Protocol:
Indeed, we’re in final testing of main net staking and it isn’t far away, but
we want to be able to provide significant staking rewards.
Staking rewards are generated through volume from the
Terminal as well as each B2B product. So, we’ve prioritized the development of
a number of our B2B solutions ahead of schedule to ensure significant volume on
staking launch, including Orion Liquidity Boost Plugin, Orion Launchpad
Liquidity, and Orion DEX Kit. All of this is to ensure high rewards for
stakers.
Luis Merino 🇪🇸 | Satoshi Club: I love that calculator. Very useful and easy to use 😊👍
Thanks for sharing.
Timothea | Orion
Protocol:
Staking rewards will be generated through protocol volume, which includes:
Orion Liquidity Boost Plugin (https://www.orionprotocol.io/liquidityboostplugin) to provide endless liquidity to exchanges (clients include COTI, Polkastarter, Polkamarkets, YFDAI, KeyTango, NORD, PlasmaPay, and more)
Orion Launchpad Liquidity (http://orionprotocol.io/launchpadliquidity) to build a swap DEX for launchpads that taps into all of our liquidity, allowing them to list incubated projects on their own DEX (clients include DuckDAO, Poolz, KickPad, and DAO Maker)
Orion Oracle (https://blog.orionprotocol.io/chainlinkoracles), enabling a market-leading price oracle that is resilient to price manipulation due to price derivation from every order book in the market (clients include Chainlink)
Orion Developer Kit (https://www.orionprotocol.io/developerkit), an open-source repository to allow anyone to build decentralized apps on the protocol (clients include BOT Ocean)
And so much more (including a DEX Kit, Collateral
Optimization, Wallet SDK Swap, Enterprise Trade Widget, etc). We could be here
all day talking about our DeFi solutions and their contribution to staking
returns 🙂
Luis Merino 🇪🇸 | Satoshi Club: 💪💪💪💪
Very complete answers.
Andrés M. | Satoshi
Club:
Yes, all that info only increase the excitement for the coming launching 💪
Luis Merino 🇪🇸 | Satoshi
Club:
With plenty of information. I’m very sure Satoshi Club community is enjoying
this AMA 😉
Timothea | Orion Protocol: Indeed! We’ve paid close attention to our predecessors, and identified one of the major causes of failure as lack of substantial revenue streams: focusing on one solution, one product, and one audience.
That’s not what we’re about – we’re here to build a
sustainable future of DeFi. That’s why we’ve developed an ever growing number
of revenue streams across over a dozen solutions for traders, crypto projects,
blockchains, and exchanges – each with the ORN token at its core.
Andrés M. | Satoshi
Club:
Btw, could you tell us more about your partner ecosystem?😃
Timothea | Orion
Protocol:
Absolutely! We’re astutely aware of the value of strong partnerships in
building out our ecosystem, expanding our offering, and ultimately ensuring our
sustainability. We’ve been focused on building out our ecosystem through
mutually-beneficial integrations with some of the leading projects across
multiple sectors, further developing our infrastructure, security,
accessibility, visibility, and more.
We have amassed over 40 partners so far, and we will continue to add to our ever-growing ecosystem.
This includes the likes of Chainlink, COTI, Binance, KuCoin, Elrond, and many more 🙂
Luis Merino 🇪🇸 | Satoshi Club: Huge partners! Congratulations 👏
Timothea | Orion Protocol: Indeed! And some big ones coming up 👀
Luis Merino 🇪🇸 | Satoshi
Club:
Partnerships are indeed the path to follow 💪
Andrés M. | Satoshi Club: Wow, really a big ecosystem
Timothea | Orion Protocol: Thanks 🙂
Andrés M. | Satoshi Club: I’m looking the name of “Certik”, they audited your platform? Could you give us more details about the audit process?
Timothea | Orion
Protocol:
Indeed, Certik has successfully completed a full-scale security audit,
including VAPT of the smart contracts and Substrate modules on the Terminal.
They’ll continue to audit every new and existing development and solution we
build!
Andrés M. | Satoshi Club: I’m impressed, you make a great job increasing the user trust 😁👏
Luis Merino 🇪🇸 | Satoshi Club: Fantastic!!! 👏👏👏
Timothea | Orion
Protocol:
We’re taking that a step further with our recent partnership with Polkacover
too 🙂
PolkaCover will provide a Whitelabel solution to offer insurance cover to Orion traders, including coverage for hacks of connected exchanges, legal fees, phishing attacks, and more to be added later. Orion Terminal is the decentralized gateway to the crypto market and will allow users to trade directly across any major exchange directly from their wallet – pulling in liquidity from major centralized exchanges. In the case that Orion Terminal users are trading on exchanges that are compromised, the exchange hack cover will protect users for their assets on those exchanges.
One of the leading concerns for new users coming on board is the security aspect of trading on any platform. This integration will reinforce the existing Orion Terminal safety net so users can trade with confidence, knowing their funds are safe from exploits, hacks, and rug pulls. https://blog.orionprotocol.io/polkacover
Andrés M. | Satoshi Club: That’s why traders need, a project that cares about them💪
Timothea | Orion Protocol: Indeed, safety and security is of paramount importance to us 🙂
Andrés M. | Satoshi Club: Thank you for providing all that info, I think the question is covered, are you ready for the next one?🥳
Timothea | Orion
Protocol:
For sure!
Q4 from Telegram User @marketingrentable One of the main problems in exchanges is liquidity, and currently, in the market, there are many liquidity exchanges to choose from, but very few or none, which guarantee the best performance of the funds. Based on this premise, what does the Orion Protocol project offer to users who mainly seek to achieve the best benefits in terms of liquidity and also minimize the risk of going to multiple exchanges?
Timothea | Orion Protocol: Good question.
To us, fragmentation, centralization, and liquidity are the biggest issues in the space and the largest barriers to the widespread adoption of the industry. Fragmentation of liquidity has certainly started to wear thin on traders, resulting in high spread, high slippage, lack of trading pairs, and the need for multiple accounts on different exchanges.
And as I mentioned earlier, risking your assets on centralized exchanges in order to access substantial liquidity.
With crypto having been described as “nothing more than a fight for liquidity”, the future lies in aggregation of the industry in its entirety. CEX aggregators and DEX aggregators have grown in popularity, but no entity has transcended the two to aggregate the crypto market into one decentralized platform. Until now 😄
The key to success is sustainability through any market – bull or bear. The reality is that regardless of the state of the market, traders and businesses alike need liquidity, volume, custody, and accessibility. They need one portal to access the entire crypto market in one place – without risking their assets. That’s why I’m confident that regardless of whether we’re in a bull or bear market, the industry needs Orion Protocol 🚀
Orion Terminal will help users save their time, money and assets:
Traders no longer need to waste time exchange-hopping:
traders will be able access major sources of liquidity in one place.
Eventually, this will encompass the entire crypto market.
Traders no longer need to worry about finding the best price
for their assets: by aggregating the order books of every exchange, Orion
Terminal guarantees the best prices possible, with almost zero spread and zero
slippage.
Traders no longer need to risk their assets to access
liquidity: traders simply connect their wallet and execute their order across
any exchange, centralized or decentralized, without the need for any exchange
accounts.
Andrés M. | Satoshi Club: Haha
Luis Merino 🇪🇸 | Satoshi Club: OMG
Timothea, how many fingers you have? 😂
Timothea | Orion
Protocol:
Hahahaa
Andrés M. | Satoshi Club: So, do you pretend to add all the exchanges at the same place? Which of them are you planning to add? I mean apart of Binance, Kucoin, Bitmax
Luis Merino 🇪🇸 | Satoshi
Club:
I’m shocked by your typing speed 😂
Timothea | Orion Protocol: Our goal is to aggregate every CEX, DEX, and swap pool. Currently, major exchange liquidity is already accessible through Binance, Bitmax, Kucoin and more, without the need for an account on any of these exchanges (or KYC)
Timothea | Orion
Protocol:
Uniswap is currently being integrated too 🙂
Luis Merino 🇪🇸 | Satoshi Club: Nice one 👏
Andrés M. | Satoshi Club: Amazing goal, what is the main objective in your roadmap for this 2021?
Luis Merino 🇪🇸 | Satoshi Club: 💪💪💪💪
Timothea | Orion Protocol: As I mentioned, our flagship product Orion Terminal (http://orionprotocol.io/orionterminal)will be live in 3 days. We already have ~100,000 users who have signed up for early access to the terminal, so we’re incredibly excited to see what launch brings us…
Our next major milestone is introducing Main Net staking.
We’re in final testing and it isn’t far away, but we want to be able to provide
significant staking rewards.
As I touched on, staking rewards are generated through volume from the Terminal as well as each B2B product. So, we’ve prioritized the development of a number of our B2B solutions ahead of schedule to ensure significant volume on staking launch to ensure high rewards for stakes.
Naturally, a major focus of ours is the NFT aggregator.
We’re working with a number of partners and marketplaces to have this ready as
soon as possible to capitalize on the insane NFT space right now!
You can find our roadmap here, but we’re intending on
delivering a number of these solutions ahead of schedule
blog.orionprotocol.io/2021
Additionally, expansion beyond the existing crypto space is critical for our sustainability as a business, and as an industry. Working with Alliance Block, we’ll provide the likes of private banks, wealth managers, and funds a singular, compliant, and non-custodial point of access to the crypto market – funneling new users and significant amounts of capital into the space. blog.orionprotocol.io/alliance-block
Andrés M. | Satoshi
Club:
Our best wishes in all your projects👏
Time to go with our next question, ready?😃
Timothea | Orion
Protocol:
Thank you!
Indeed 🙂
Q5 from Telegram User @AmirJosh What available wallets can we used to connect to Orion Protocol? Do you have a plan to create your own wallet or App in the future to serve the community more efficiently, for safe storing of assets, and another source of income for the platform?
Luis Merino 🇪🇸 | Satoshi
Club:
Interesting question 😊😊
Timothea | Orion Protocol: Currently, Coinbase, Fortmatic, and Metamask are integrated! We’re adding more though, including leading wallets. Interesting suggestion though 🙂
I Will feed it back to the team 😏
Andrés M. | Satoshi Club: Orion wallet, great idea😁
Luis Merino 🇪🇸 | Satoshi Club: Which ones are you planning to add in a near future?
Timothea | Orion Protocol: We are working on a Wallet Swap SDK, though! With traders increasingly storing their assets in wallets, why not remove any friction and allow decentralized trading of assets directly from users’ wallet of choice? This allows users of third-party crypto wallets the ability to access Orion’s liquidity via a swap widget directly integrated within the wallet’s interface. Wallet users will be able to swap crypto without leaving their wallet of choice, using liquidity of exchanges without the need for any exchange accounts. This will allow for the least slippage of any solution in market.
TrustWallet, etc 🙂
Luis Merino 🇪🇸 | Satoshi Club: Hahaha.
Ready for the last question of part 1? 😉😉
Timothea | Orion
Protocol:
I am indeed!
Q6 from Telegram User @mctrho In Q2-2021 of your roadmap, you will launch “Orion Margin Trading”, can you tell us a little about this novelty? What does it consist of? What benefits will it bring to users? Also, what are your plans after Q2 of your roadmap? Do you have current plans for this year 2021?
Andrés M. | Satoshi
Club:
Partially covered
Timothea | Orion
Protocol:
Indeed, through aggregating the liquidity of and depth of all major centralized
exchanges, Orion Protocol will be the first project to enable high-margin
trading not seen on a decentralized platform. Orion users will be able to earn
passive income on assets by lending their assets in our decentralized margin
trading solution.
2021 is pretty much covered above 🙂
Andrés M. | Satoshi
Club:
@timotheahorwell thank you so much for the amazing answers, I really enjoyed
this first part of the AMA, a lot of new info about the project, that’s what
our community likes😁👏👏
Timothea | Orion
Protocol:
Me too! Glad to be here 🙂
Part 2 — live questions from the Telegram community
Q1 from Telegram User @highpee Orion Protocol Token has a Total supply of 100,000,000 and you have said that your Circulating supply will never reach this peak, which is very assuring. So what strategic method will Orion Protocol be using to remove $ORN from circulation? How is $ORN designed to attain a DEFLATIONARY status?
Timothea | Orion Protocol: Our token is supply-capped, meaning no new tokens will ever be minted beyond the max supply of 100m. Max supply will never be in circulation either, due to a number of efforts to strategically remove tokens from circulation. Our significant staking rewards will create scarcity (~55% of tokens are currently staked, and that’s without our main net staking).
Additionally, licensing fees for each of our DeFi products will be used to market buy ORN and permanently remove them from circulation.
Traders using ORN will receive a discount on Orion Terminal. When ORN isn’t used, a portion of the fee will be used once again to market buy ORN and remove from circulation permanently.
Q2 from Telegram User @MCBTrade The purpose of DeFi implementation is to create a new financial system to replace traditional systems by eliminating subjectivity, bias and inefficiency. Does the Orion Protocol adopt this vision and how does it participate in the development of DeFi?
Timothea | Orion Protocol: Indeed, to me, it’s clear that a successful decentralized financial system won’t be measured by its ability to exist separately to centralized financial institutions, traditional or otherwise, but one that is able to act as an intermediary between the worlds consumers know and the immature world of DeFi.
DeFi projects must come to terms with the fact that the path towards true decentralized finance will only occur through collaboration, not just with other defi projects, but with traditional entities that monopolize much of the market.
Orion was born out of the need for an intermediate solution that bridges the gap between the centralized and decentralized worlds of crypto: building on decentralized technologies in the most critical parts of the system like custody and final settlement while pulling liquidity from the major players in market — centralized exchanges.
Q3 from Telegram User @BJosefina61 Does ORION PROTOCOL plan to include FIATS ramps within the ecosystem to complement Orion’s functionality as a preferred platform?
Timothea | Orion Protocol: Indeed, we have several partners for fiat on-ramp, including Mobile Pay, PlasmaPay, and COTI.
Q4 from Telegram User @Guandog Since you use CEX as well, does it imply that it is mandatory to pass an identity verification of the KYC type or similar?
Timothea | Orion Protocol: No KYC! Brokers with exchange accounts (or the exchanges themselves) carry out KYC on behalf of traders. Using Orion Terminal will allow access to major centralized exchange liquidity without the need for any accounts – or KYC. Simply trade securely from your wallet 🙂
Q5 from Telegram User @JasmineSha Dear @timotheahorwell, Congratulations on going live, If Orien is so fast as your typing speed it looks so promising 😂 Orien protocol promise to reduce time execution to the half right? At the same time, your goal is to aggregate every CEX, DEX pool, that is really amazing!!! how will you achieve this? execution time changing under pressure, so did you have performed a crowd pressure simulation test for your platform? another question about Ethereum, all talked about high gas fees, as we already know Ethereum 2 is coming and promising lower gas cost, more performance, do you have plans for the new ERC?
Timothea | Orion Protocol: Haha, thank you 😅 this is all made possible through our decentralized brokerage at our core.
The entire ecosystem is built on a network of Brokers running Orion Broker Software with accounts across multiple exchanges. This software allows their computers to automatically execute trades routed from the liquidity aggregator via their trading accounts.
Brokers are chosen to execute trades based on how much ORN, Orion’s native token, they stake in the Decentralized Brokerage. Brokers receive a portion of fees from each trade they execute.
Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered. Brokers are incentivized to offer attractive rates to Non-Broker Stakers to grow their stake, increasing their chance of being chosen.
Nothing is mined and brokers’ machines are simply used to execute transactions via their own account, making DPoB incredibly efficient and scalable.
Q6 from Telegram User @Xusuo From what i see Orion Protocol is a really good project, can you share how do i possibly purchase your token? any token sale or presale?
Timothea | Orion Protocol: Presale occurred last year, but we are now listed on Binance, AscendEX, Kucoin, Gate, and MXC! You can find the links here orionprotocol.io/ORN
Q7 from Telegram User @biggdata Currently, most investors are just looking for more gains, but ignore the long-term benefits of crypto. So what would you tell them about why they should buy and hold your token/coin over the long term?
Timothea | Orion Protocol: Well, as I touched on earlier the key to success is sustainability through any market – bull or bear. Regardless of the state of the market, traders and businesses alike need liquidity, volume, custody, and accessibility. They need one portal to access the entire crypto market in one place – without risking their assets. Regardless of whether we’re in a bull or bear market, the industry needs Orion Protocol 🚀
From inception, we’ve paid close attention to our predecessors and identified one of the major causes of failure is lack of substantial revenue streams: focusing on one solution, one product, and one audience. But we’re here to build a sustainable future for DeFi. As such, we’ve developed an ever-growing number of revenue streams across over a dozen solutions for traders, crypto projects, blockchains, and exchanges – each with the ORN token at its core.
Q8 from Telegram User @Kushal85127939 Could you please give us an overview of Tokenomics? Please mention the key point in it for us?
Timothea | Orion Protocol: Because it’s so important to our ecosystem, we’re committed to ensuring the sustainability of the ORN token. It’s supply-capped, meaning new tokens are never minted, while efforts are in place to strategically and frequently remove tokens from circulating supply. Orion has worked to ensure longevity of the supply-capped ORN token through a number of methods:
Unrivaled token utility
Non-inflationary staking
Diminishing supply
Strong holder benefits
Seventeen revenue streams
At the core of Orion Protocol is the ORN token. Orion has ensured deep utility of its native token across the entire protocol, integrating it into all main transactions to take the form of an internal currency or utility token. No product or feature can work without it: ORN is required for payments, staking, participation, the unlocking of advantageous network access with discounts on trading, oracle usage, and Protocol access.
The token utility of each additional DeFi solution lies in the integral role the ORN token plays in the decentralized brokerage, with every transaction within each solution acting as a trade being carried out by a broker. With seventeen revenue streams across twelve products, ORN’s token utility is practically unrivaled.
Q9 from Telegram User @Pratze Actually, I’m really interested in NFT Aggregator. There is so much exchanger aggregator out there but Orion Protocol is the 1st one who has this. Can you explain in short how does NFT aggregator works? Is that mean I can look and buy for NFT from other markets like open-sea, atomic, or other NFT markets using Orion protocol platform?
Timothea | Orion Protocol: Indeed! Major NFT marketplaces will provide liquidity to the Orion network to drive accessibility, liquidity, and volume. For the marketplaces themselves, this will provide an additional point of access to listed assets, driving significant volume to their marketplace and visibility for sellers. One point of access to NFTs will benefit seasoned NFT traders by reducing the need to trade across marketplaces while increasing the accessibility of NFT assets to a wider userbase. Typically, most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any ERC20 token for an NFT via a complex swap.
Q10 from Telegram User @feranno What technology do you own or use makes you more unique than others? Is Orion Protocol a more innovative and useful platform than other competing platforms?
Timothea | Orion Protocol: Everyone in the space needs liquidity in some form. Put simply, we’re building liquidity solutions for traders, blockchains, exchanges, and crypto projects on the most advanced liquidity aggregator ever developed.
I don’t think anyone in the space is really doing what we are. Parts of it, certainly. There are aggregators, there are DEX Kits, there are Developer Kits, there are Launch Pads. But no one is doing everything!
However, some community members have asked for comparisons between us and other aggregators, so I’ll share this. No shade to any of the projects of course 🙂
Welcome to another episode of our AMA
series. Today we are glad to tell you about the AMA session with our friends
from Polka Ventures.
Polka Ventures is a decentralized alternative investment
fund. The AMA took place on March 26 and our
guests was Patrick S. Dine.
The total reward pool was 500 $POLVEN and
was divided into three parts. In this AMA Recap we will try to summarize some
of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce
our AMA session with Polka Ventures! Welcome to Satoshi Club.
D | Satoshi Club:@patrick_polven
our today’s guest! good to have you here! welcome!
Patrick S. Dine: Hi everyone.
Mary | Satoshi Club: Patrick, please introduce yourself and tell us
more about Polka Ventures.
Patrick S. Dine: I’m Patrick, 48 yrs old, master’s degree from
George Washington University, I’m an entrepreneur, and I’m living in DC. It was
actually a friend of mine from Edge Technologies where I was working as a
manager who told me about this.
Mary | Satoshi Club: How can you describe Polka Ventures in some
sentences?
Patrick S. Dine: Polka Ventures is a decentralized alternative
investment fund. We invest in DeFi, crypto and blockchain projects that create
value and solve issues making blockchain simply better. The investment targets
have to a have a liquid token or planning to list it shortly. We provide seed
and early stage funding.
Polka Ventures announced that its Pre-sale event will take place this
Sunday 28th, so can you tell us what are the essential aspects that user must
complete to be able to join on it? Do we have time to enter yet?
Patrick S. Dine: Pre-Sale of POLVEN tokens will take place on
Sunday, March 28th, 2021 at 15:00 UTC. How to participate in the Pre-Sale?
The pre-sale will take place on the Bounce platform. In order to participate in the sale, you need to follow the link that will be posted on March 28th, 2021 at 15:00 UTC in our official Telegram (t.me/polkaventuresannouncements) and Twitter (https://twitter.com/PolkaVentures). Then, you connect your Metamask wallet to Bounce and make the fixed swap. More thorough instructions will be posted tomorrow. You don’t have to buy bounce token, you need only ETH in your wallet.
Q2 from Telegram user @ninoska0012
Polka Ventures invests in projects when they launch their token or
shortly before a listing through private sales. The community plays a very
important role: any member can submit a start-up project that has been
identified that matches our investment criteria. What are the criteria that
must be met to pass the preselection filter?
Patrick S. Dine: The projects have to be in the following sectors
of investment:
DeFi
NFT
Crypto
Blockchain
infrastructure
Secondly, the projects have to
match some standards like:
– Is the team reliable?
– Is there a market for the product
=> You can check out our
homepage and click on “Submit project”, there you can see all the
information we will check before investing if our community is voting for the
investment of course.
So, if you hold POLVEN token and
stake it then you can vote where to invest. And you are also entitled to
subject projects!
Mary | Satoshi Club: When team is s reliable? Will you accept
anonymous teams?
Patrick S. Dine: No, of course not. It is important that we can
check the team (personal background/ track record). The team is the most
important: If you have a bad product but a good team even this team will make
the product fly.
Q3 from Telegram user @meml97
While
reading your whitepaper I saw that Polka Ventures decided to launch not one,
but three funds pools called Lichtenstein, Warhol and Rauschenberg
respectively, so, can you tell us more about this fund pools? Why did you
decide to have three pools, when will each one of them take place, and what is
your target expectation for these pools? On what will this funds used for?
Also, I’m really curious about this names you gave them, can you tell us more
about it and where did they come from?
Patrick S. Dine: Polka Ventures will launch 3 funds (technically
speaking those are “pools”) named after 3 great painters of Pop Art and somehow
the “fathers” of the first polka dots…
1. Lichtenstein: The Lichtenstein
fund, named after pop art painter Roy Lichtenstein and somehow the father of «
polka dot » painting is our initial investment pool. It is funded from the DEX
raise.
2. Warhol: The Warhol fund is our
second funding pool to be launched in Q3 2021. This pool is meant to attract
more institutional investors.
3. Rauschenberg: The Rauschenberg
fund is our third funding pool. It is scheduled for Q1 2022 and will topple the
previous investment amounts. This fund and the previous might be a regulated
Jersey Private Fund (“JPF”).
Our target fund size will start
from USD 3 million for the first pool, USD 5 – 10 million for the second and
USD 20 million for the last pool to be launched in 2022 subject to previous
market performances.
Mary | Satoshi Club: Did you officially register your company? If
yes, where? And also, will you need licenses for any of your funds?
Patrick S. Dine: Yes, the company is registered in Hong Kong (=>
the address is on our website). We don’t need a license for these investments. Setting
up regulated fund structures is rather a requirement from institutional
investors but legally speaking we don’t need to do it.
Q4 from Telegram User @yellowchamp
Can
you explain more about the institutional investors that you are planning to
integrate this coming months in Polka Ventures network? Why choose those
investors? What gainful benefits you will get from each other as a partner? Are
you already in the process of negotiating with these investors? Aside from
institutional investors, do you plan to integrate other kind of investors in
the future? Thank you
Patrick S. Dine:Yes
absolutely, Institutional investors are more and more discovering crypto
investments, for example BlackRock just filed two licenses with the SEC in order
to do crypto investments. We have been approached by several institutional
investors, so they invest in Polka Ventures and we invest for them.
Mary | Satoshi Club: As i understand institutional investors have
high requirements for their investments. Did you have to change something in
your project to meet their requirements?
Patrick S. Dine: No, as we know their requirements. My colleague
Marco has been in the real estate investment/ finance industry for 15 years, he
was director at Bavarian State Bank, Dresdner Kleinwort, Paul was manager at Alpha
Bank, Slava was CEO at Legion, an investment company, and Nils is currently
invested in 20 companies.
Q5 from Telegram user @Arisabela
Your
governance method is “stake-based”, so everyone that holds enough of your
tokens can participate, how do you incentivize your voters to make good
apportations to your platform? Is there any way to reward them?
Patrick S. Dine: Our
system is designed to provide service for the users to stake specifically
created for that purpose tokens to get an interest that will depend on the
percent set by Polka Ventures. Our interest logic for staking is going to be
implemented using Compound logic that is designed to make the reward
distribution process fair for the system users. The main idea of the Compound
logic is to make a full time and rate dependent calculation of the reward
amount.
We will offer 2 types of staking at attractive rates:
Minimum of 6 months locked staking
Staking with no fixed duration – the duration is
set by the user himself
Our initial staking rate will be appr. 16%+. Polka Ventures
will also offer yield farming. You can gain high interest rates and generate
passive income by providing liquidity. Staking and yield farming will be
launched end of Q2 2021. We use Sybil platform.
Q6 from Telegram user
@lzamg
It’s great that start-ups
can get capital from platforms like Polka Ventures, but what happens if the
project you invest in doesn’t accomplish their goals? All investments entail
risk, so how are you prepared to face loss if that happens?
Patrick S. Dine: As
we only buy a liquid token we can exit at any. A traditional VC fund is
investing in equity. That means if you want to sell your participation you
first have to find a buyer and agree on a price. This could take several
months. That is far too long for DeFi and crypto. With a liquid coin we can
react within seconds!
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The
chat was open for 120 seconds; a lot of questions were posted by Satoshi Club
community. Our guest chose some of them.
Q1 from Telegram User @Karoceh
Do you agree that there
is always a risk of loss in investing? what is Polka Ventures’ strategy to at
least reduce the risk of loss? Are you considering an insurance product, or do
you have your own mechanism to protect investor funds?
Patrick S. Dine: Venture capital is always a risk. Projects are
seeking for venture capital because they do not qualify for traditional bank
loans. But as we involve our community in evry investment decision we can rely
on thousands of brains and eyes who will screen the projects to invest in. Even
the best fund managers couldn’t do that
Q2 from Telegram User @andZer31
Do you have mechanisms
such as buyback and burning to regulate the demand and supply of $POLVEN?
Patrick S. Dine: No, we don’t. The tokens amount of 26.4 million is
quite low.
Q3 from Telegram User @Mynameloc
After token finishes airdrop, do you
plan on which exchange and exchange list will be the first place for POLVEN
token to be valid? let me know
Patrick S. Dine: We
will list on UNISWAP after the Pre Sales on Sunday. 25% of raised funds will be
looked in the liquidity pool, so of ETH 3,000 it will be ETH 750 plus the same
value in POLVEN tokens.
Q4 from Telegram User @Korryl
I read from your twitter that
PolkaVenture have won a nominee as one of the best project which have best
website Madeontilda by Tilda. Can you share what is Tilda and what effort that
PolkaVenture’s team already do to get this achievement?
Patrick S. Dine: Tilda
is a solution like Invision I would say.
Q5 from Telegram User @highpee
Your Project name is Polka Venture
which has sound similarity with PolkaDot. But I found out you will be launching
on Ethereum. Do you have consideration for Defi investment in PolkaDot chain
project? Or is there a limit to the blockchain and project you will be
venturing into?
Patrick S. Dine: Yes,
a Polka Dot version is in the pipeline too. We want to see that is fully
deployed with all features.
Q6 from Telegram User @rockmorti
If the market makes a long crash, is
it possible that PolkaVentures can protect itself, some mechanism?
Patrick S. Dine: Yes,
we hold a shredhold in USDT and USD, but let’s be fair: we won’t do miracles
either. Said so, during market corrections it is a good time to invest at a low
price. In crypto you have to be patient.
Q7 from Telegram User @K2ice
Less than 48 hours to your Presale.
Is there anything we need to know before then as regards participation and the
correct contract address? Is there a way to join before the presale starts or
we have to wait till the day before participating?
Patrick S. Dine: Pre-Sale
of POLVEN tokens will take place on Sunday, March 28th, 2021 at 15:00 UTC.
How to participate in the Pre-Sale?
The pre-sale will take place on the Bounce platform. In order to participate in the sale, you need to follow the link that will be posted on March 28th, 2021 at 15:00 UTC in our official Telegram (t.me/polkaventuresannouncements) and Twitter (https://twitter.com/PolkaVentures). Then, you connect your Metamask wallet to Bounce and make the fixed swap. More thorough instructions will be posted tomorrow. You don’t have to buy bounce token, you need only ETH in your wallet.
Q8 from Telegram User @meml97
One thing that caught my attention
was the fact that the team you show on your website looks (purely based on
their last names) very american and europian to me, but even that, Polka
Ventures is based in Hong Kong, so can you tell us more about it? Why did you
decide to based Polka Ventures there and not in another part of the world like
USA for example? Does this mean you are trying to penetrate the Asian market
first? If so, why did you decide to enter that market first? How could this be beneficial
for Polka Ventures?
Patrick S. Dine: Hong
Kong is one of the most dynamic financial places in the worl, I think they are
number 3 or 4. The legal frame is very business and crypto friendly and enjoys
a great stability. I hope some Asian advisors will join! Spread the word.
Q9 from Telegram User @K2ice
What can you say about the audit that
was recently conducted by Blackshot on the POLVEN smart contract? How can we
get access to this report and are you planning on doing another audit with a
different audit firm?
Patrick S. Dine:
Our POLVEN
token is a standard ERC20 token. We made an audit that was conducted by
Blackshot on March 19th, 2021. According to the audit, the “POLVEN smart
contract is well crafted, following common security practices. Full set of
tests were provided to enforce correctness. Issues that can impact on the
contract were not found. Some recommendations were proposed to follow best
practices.” Excited to get listed on Uniswap! The audit report is on our
Twitter account.
Q10 from Telegram User @K2ice
Is there a specific target of
projects that Polka Ventures invest in or just any kind of project is welcomed
on board?
Patrick S. Dine: The
projects have to be in the following sectors of investment:
DeFi
NFT
Crypto
Blockchain infrastructure
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about Polka Ventures. A
link to a Quiz form was sent into the chat. Participants had 10 minutes to
answer. 300 $POLVEN were distributed between the winners.
For more information and future AMAs, join our Social Media
channels:
