We are pleased to announce our next AMA on March 15th, 2021 at 04:30 PM UTC Time: Satoshi Club x Wealth Locks
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Wealth Locks Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Wealth Locks Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Wealth Locks
For more details:
Wealth Locks – @wealthlocks
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What is the strategy used by Your Project to attract new users and investors and keep them in the long term?
In the stage we are now where there are a lot of scammers out there, its no longer news that LOCKING LIQUIDITY is no longer enough to prevent scam project as there some other things they do such as hidden mint functions among other shady acts…What are you doing to ensure that only genuine projects are accepted on the wealth wealthlock platform?
1, I have read that there will be a launchpad feature in the future. In light of this, what will be the amount of WLT you would have to hold to be allocated a place?
2, With regard to staking, would it be staking to get more wlt or would it be for some other upcoming coin you may have in the pipeline? Similar to ferrum and ferrum x
On your website you say that you are building more smart contracts to deal with other blockchains besides BEP20, but is Wealth designed to support the network traffic that incorporating other blockchains involves? Are you prepared regarding the network?
If I’m not mistaken, Wealth is a platform that provides smart contracts to cryptocurrency projects, these smart contracts consist of blocking the tokens for a certain time. This is the only utility that Wealth has? What exactly are the problems that Wealth solves in the ecosystem? Thanks
I believe that the fact that a token is listed in DEX’s or CEX’s can provide more trust and security to users. And it has come to my attention that $WLT is only in PancakeSwap. Do you plan to list $WLT on Uniswap or KuCoin?
Wow I am impressed to see that in just 24 hours the value of $ WLT has risen by approximately 150% (today, March 14th). This tells me that $ WLT has been in high demand and community trust in the token, but do you think $ WLT could continue to rise? Do you think the community will continue to demand your token? What do you hope?
Wealth guarantees the privacy of users? Is it possible for an outsider to know my identity or my data on the Wealth Locks platform?
Do you think in the future to incorporate another chain of blocks apart from BEP20? Is there an option that seems more convenient for you?
I read on your page that you said that one of the things Whealth Locks allows users to do is “Time Locked”, and I saw that you said that “Any Project can lock their tokens for a Specific period of time giving their investors confidence and Security”. But can you tell us more about it? Are there any small letters on the contract that we are not able to see right now; what are the terms and conditions any project has to follow to be able to do so? And when you say “Specific period of time”, what is the min. and max. period of time a project can lock their tokens?
0.5% is charged as fee when teams lock their project token in Wealthlocks and 1% of charged Fees will be distributed to holders of $WLT. How will the 0.5% be determined and what method will you use to distribute to holders (Will it be 1% for each holder’s address or all holders will share the 1%)? Are there any conditions to be satisfied? Also, you have said that you will be hosting a regular bonus event for holders which can allow a user to claim additional token up to 100 $WLT from the BonusVault. What is the BonusVault and how will the bonus event be designed in such a way that $WLT holders can benefit
Wealthlocks can be used to lock project token and it is currently live with over $1 million of project fund locked. But aside this, you have other products such as Wealth Tools, Wealth Pool, Wealth Launchpad, Wealth Staking Services and Wealth DEX to be launched in 8 months time. How realistic calm all of these be achieved within the targeted month and which of these is your next focus? Also, how will WealthTool successfully combine the attributes of pancakeswap, CMC, Coingecko and Dextools? Why don’t you implement the WealthTools to focus on charts and data analysis only, since you already have products to cover the other features you are combining with the Wealthtools?
You said that Wealth Locks can be used to lock BEP-20 team tokens and liquidity tokens for BSC projects. Could you tell us why did you decide to work with BSC projects only? How will this be benetifial for Wealth Locks? Besides that, do you have plans on releasing new smart contracts that will be able to deal with more blockchains? If so, when will be able to see this happening and what blockchain would you like to support next?
When it comes to a project locking its tokens on Wealth Locks ecosystem, do you have plans on charging any fee for doing it? If so, how much will you charge per locking fee and could this % of fee change depending on something? Could you tell us more about this? Also, on what do you plan to use this revenue coming from lockup fee?
Your intention with WealthLock is to help avoid the incessant cases of rug pull as a result of project team running away with investors’ fund which made you to create a platform to lock the project fund. No matter how fantastic this may be, its impact may not be felt if project partners do not use it. What are the procedures for a project to lock fund with you and how will you be able to convince and attract prominent project developers to lock team token in your protocol? Who have access to these locked tokens and what conditions do you consider before locked tokens are released?
You’re offering a bonus event where users will be able to claim extra 100 tokens if they buy more than 500 $ WLT tokens, what’s the fair chance of earning this bonus? Are these events announced randomly? And will be multiple winners or can only one person win the prize?
You promised to your community that you will mainstream in the binance smart chain ecosystem in coming months, can you explain to us what big moves will be made in the coming months that can position you among the first in the Binance Smart Chain ecosystem?
With Wealth Locks any project can lock its tokens for a specific period of time, I understand, but is this the only way to lock the tokens in BSC to give investors security? and if there is competition, why choose them? will they block it for less time?
Really why is Wealt Lock only limited to providing its token lock services on the BSC chain? Why not enable them for other chains and thus have a greater reach?
You mention that Wealth will block the tokens and equipment of the founders, and that it will be easy for users to detail, but where can we really see if they are blocked or not? In addition to its temporality and other characteristics that you describe?
You mention that Wealth will lock the tokens for a specific time, but could you really detail how much that “specific time” will be? Could it be several depending on the amount of tokens or some other factor? or will it be the same for everyone?
I understand that riches tokens can be obtained on Pankeswap, but really why only beg of it? Are you planning to emigrate later to others like Apeswap or Saltswap? Or would you first have to lock in the capital of the latest swaps to trust them?
What is the process that new BSC projects have to follow in order to enjoy Wealth Lock’s services? first they block them, until they analyze their contracts, correct faults and then provide them with the temporality? or how does it really work?
In the event that a new project is launched in BSC and Wealth Lock blocks its capital in a certain time, if that project does not turn out to be successful, but does not have investors and goes bankrupt, it will still have to keep its tokens blocked until the set time expires? or can it vary?
You point out that one of the main functions of WLT is the “Bonus Event”, could you explain in more detail how often these events will take place, how we can participate and how much will be the rewards to distribute?
Wealth Locks, which is a decentralized application permits blockchain projects to lock their BEP20 tokens and Liquidity tokens in an audited and time released smart contract. So how does your Smart Contracts of token locking really works and why we need to lock up our funds in Wealth Locks in the first place? Also currently your Smart Contracts only support and help BEP20 Tokens, but it would be nice if you will support other tokens too aside from BEP20 Tokens. So is there any plan for this, if so may we know in advance what blockchains are you targeting first?
You are providing “LIQUIDITY LOCKING” solutions for Token Founders and Developers. So how these solutions provide security to token Investors? Also is it really possible that RUG PULL cannot occur if the team locks their Liquidity Pool and team Tokens? If so, how can you be so sure and how can you say so?
NFTs are the trend nowadays and very popular in Cryptospace and I’ve heard you are planning to introduce NFT marketplace in wealth ecosystem soon. So when will it be and if you don’t mind me asking, could you share us in advance your plans regarding this matter? Also it would be nice too if you can share here with us what are the milestones you are looking forward to achieve?
Can you tell me how Wealth Lock project get income from to maintain your project? Is it from transaction fees? How much percentage did you charge fees for each transaction?
Wealthlocks is the first lockup project on BSC. I think i have seen similar project on ETH network. From your opinion what is the different being Lockup project in ETH and BSC? And why did your final decision come to BSC?
Wealth Locks is a Lockup project from BSC and your project also a vault provider. But the question is why Wealth Locks need and create token $WLT? What are the use and the main utility WLT token for a Lockup project?
Does Wealth Locks have plans to operate in other ecosystems besides the BSC ecosystem?
What happens if the person who blocked the tokens with your help decides to withdraw them ahead of schedule? Is there some mechanism that allows him to do this? And how does the process of returning tokens to the owner generally take place? Does he have a key? Or do you have some kind of system identification of the owner of blocked tokens?
1. I read on your medium that Wealth locks is a decentralized application that allows blockchain projects to lock their BEP20 tokens and liquidity tokens in a non-custodial, time-released smart contract vault. That being said, does it mean your tokens are deflationary ones? How that can attract the attention and trust of the investors and holders? For how much time will be the tokens locked and what are the conditions of unlocking them? Can you show us guidance on how to lock step by step tokens on your platform?
What do you guys believe in more? Hype, technology, or organic growth in the value of WLT? I would like to know which of these options you have chosen for your project. What is the role of the WLT token on the platform and how do you plan to maintain the price?
2. On your site is written that at the moment we lock liquidity tokens with Wealth locks, it will show our lockup and project details in a very simple manner which makes it easier to gather information about the project which gives confidence to the investors and also ensures assurance. But in order to this, my question is: does Wealth locks respects security and decentralization so you never have custody of users locked coins and do not have any access to them? Does the locking contract been tested and audited for any security vulnerabilities? Is there a chance that locked tokens can be withdrawn by others than the locking address?
Wealth Locks tweets that the platform’s next product to be release is something big and needed in crypto space. Can you give us more details about this upcoming product? How large is the market of the product?
Wealth locks allows Projects built on Binance Smart Chain to lock their team and liquidity tokens in an audited, time-released Smart Contract. Do you have plans to provide Wealth Locks services on other Blockchain-based coins/tokens or you will just focus on BSC tokens?
One of the roadmap goals of Wealth Locks is the Wealth Launchpad for launching projects on BSC. Can you tell us an estimated date for the release of this Launchpad? And how will you make sure that the projects are legitimate and serious? Will those projects have to meet a certain criteria to launch with Wealth?
Do you only support BSC tokens on Wealth Locks currently? Will you be integrating other chains?
The timelines of your roadmap are not clear yet. Can you tell us what are you working on right now? Which goal of your roadmap are you developing now?
Do the locked tokens on Wealth Locks vault all insured, incase some untoward incident occur that might compromised the assets? Do you have an insurance policy?
Wealth locks allows developer who built project on Binance Smart Chain to lock their team and liquidity tokens.So what are the first thing that we must do if we want to lock up project token in Wealth locks? what are the stepbystep guide? and how much fees did you charge to lock the token?
I don’t quite understand, what is the advantage of blocking tokens through your smart contracts and paying? Projects can block tokens at a dedicated address without losing money on fees for you.
I understand that your project has been audited for security, but the issue of security cannot be 100% resolved. Even the most secure exchanges get hacked. How will projects that have blocked funds on your platform be compensated? Do you have insurance in case of hacking and an attack resulting in the withdrawal of funds?