Month: March 2021

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 BiTToken.Club and our guest were:
– @Cryptojohnnyb
– @CryptoAndres
– @Krtklplz
– @Strainz
– @Crypto_0G

The AMA took place on the 27th of March. The AMA session was divided into 3 parts with a total crypto reward pool of 500$

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

Part 1 — introduction and questions from the Telegram&WebSite

Goldie Rocket | Satoshi Club:
Hello, dear community!
We conclude our today’s AMA marathon series with BiTToken.Club.
Today our guests are @Cryptojohnnyb @CryptoAndres @Krtklplz and @Strainz.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
So excited to be here!

Strainz:
Glad to be here!!! Hello everyone!

Krtklplz:
Hello!!! Awesome to be here again with you guys!!

Andrés M. | Satoshi Club:
How is going your weekend?

Strainz:
It’s been going great so far! Ready to ride this momentum through to next weekend!

Krtklplz:
Awesome so far!

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
Even better now!

Goldie Rocket | Satoshi Club:
We are always glad to see our friends here!
Well! Let’s start! Introduce yourself. How did you get to be involved in crypto & BiTToken.Club?
Tell us please about yourself and your position in BiTToken.Club.
What is the essence of your project?

Andrés M. | Satoshi Club:
And a brief description about what is BiTToken, please.
@Crypto_0G welcome to the AMA.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
Hi there!

I came across cryptocurrency a number of years ago, but I never did a deep dive into the tech behind Bitcoin and what makes it so powerful. Whenever the lightbulb went off I knew that it was something that I wanted to be a part of.

I quit my job in foodservice, and I made some connections in the space and began doing freelance work. and then I got picked up by the BITToken and DEXKIT projects as the head communications officer.

“BITT is the native token for every crypto community! It is designed with the sole purpose in mind of rewarding group members and developing fun and unique utility for any project. BITT is a giving token that will evolve based on the needs of its holders.” – https://www.bittoken.club/litepaper/
The BITToken project is all about empowering communities by giving them a platform to reward devoted followers and give people incentive to buy, spend, and hold BITT!

Krtklplz:
I am on the Bittoken marketing team and as many of our team members, I came from the Bitsquad community back when it was a little Crypto, hole-in-the-wall community that very few knew about. Since then the community has grown exponentially and from that, the Bittoken was born.

Bittoken is a community rewards token available to any community that wished to adopt it.

Strainz:
I got involved in Crypto back in 2016 just slowly buying up BTC as I could afford at the time. Been investing/trading crypto ever since! I really started to get involved within the crypto community last year to get more of a social presence within the space as Idk many people in person who are into crypto that didn’t learn about it from me haha. I got really involved within BitBoy Lab Discord Server and started helping out with social media and marketing with the team. It’s been an awesome path to get here coming from the community to help with a community token!

Crypto 0G (2013):
I started my crypto journey in late 2012 / early 2013. I am on the marketing team for BiTToken and help distribute BITT to the community on discord https://discord.com/invite/bitboylab.

Goldie Rocket | Satoshi Club:
Thank you very much for the great intro! Ready to move on to questions from the community? Or want to add something?

Strainz:
Ready to move forward!

Andrés M. | Satoshi Club:
Q1 from Telegram User @Korryl
Usually, a NFT doesn’t have utility and it’s for collection, so how about NFT from BITToken? What is the main use of NFT from your project? And can you please explain what is NFT “Founding Member” that BITToken has for their community?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
This is a fantastic question. It is difficult to answer in a brief manner.

The first NFT that will be available that will be exclusive to the project is the “Founding Member NFT” for initial farmers of the BITToken. It will also be available for purchase for users that did not have the opportunity to farm. By holding this NFT, users will receive a bonus for the BITT staking pool that will go live soon. It will also make holders eligible for other rewards from the platform.

Additionally, when NFTs are purchased with BITT, a portion of the ETH that is used in the transaction is converted to BITT and subsequently burned, deflating the 42M total supply.

Beyond that BITT will be integrated into the SANDBOX game where users will be able to use it as currency to purchase exclusive collectibles and give them exclusive access to experiences in the game!

Crypto 0G (2013):
Direct from the website:

How Do NFTs Work?
NFTs are priced in ETH. The sale of an NFT will activate the BITT faucet calculating a percentage of the ETH used to purchase the collectible to subsequently burn BITTokens. Some NFT purchases will also reward you with BITT airdrops directly to your wallet. Each NFT is uniquely individual and possesses special utility. Anyone who accrues at least 10,000 tokens from the initial BITT farm will be awarded a ‘Founding Member’ NFT. The ‘FMNFT’ is a special collectible that will give holders staking bonuses and rewards. NFT use-cases include:

• NFT staking to earn fees generated deployed BITToken Tools.
• Discounted trading fees on the Bitswap DEX.
• Deflation of the total BITT supply through the purchasing burn mechanism.
• Access to exclusive rewards and experiences.
• Staking bonus multipliers.
• Unique utility based on different NFT types.

Andrés M. | Satoshi Club:
What is the price to buy those NFTs?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
This has yet to be announced. ETH has been a killer with high network traffic.

Strainz:
So much more than just a collectible.

Krtklplz:
NFT’s are a huge topic of discussion. The Bittoken team and the Bitsquad community were thinking NFT utility before NFT’s were cool!

Andrés M. | Satoshi Club:
That’s amazing, benefits for collectors and for holders 😁
But, could you share the design of some NFTs with us?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: https://rarible.com/token/0xd5cf4c300ec75c4f43f5f7bb6a7c035789755ebd:51:0xeca59b6392ac66b9affa75342343c327eee4b0f5

Andrés M. | Satoshi Club:
How do you deal with this high Gas problem?

Strainz:
Check out other designs here:
https://rarible.com/bitboy

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
We have to be strategic about how we use our limited funds. We are a community project, so we had no presale. We have had a large amount of organic growth and we have a number of things going on behind the scenes that will make the community extremely excited.

Goldie Rocket | Satoshi Club:
Lol😁 You sell prototypes of team members. It is very unusual.
Actually, the product looks great👍

Crypto 0G (2013):
BITT is partnered with DexKit and will be benefiting from all the innovative apps they are releasing, most of which help save a tremendous amount on ETH Gas Fees. We have an aggregator and DEX launched at the moment:
https://bitswapdex.io
https://bittdex.io

With the DEX users can place Gas Free Limit Orders, so no gas is required because the taker of the order pays the gas fee.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
We have great advisors and partners with BitBoy Crypto and CryptoCrow being the first.

Andrés M. | Satoshi Club:
Thanks for these clear answers guys, are you ready to proceed with the next question?🥳

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
Let’s do it!

Andrés M. | Satoshi Club:
Q2 from Telegram User @JoanaZ
BITToken is designed to reward token holders in fun and interesting ways, so what type of reward do they receive? What makes rewards fun?

Krtklplz:

Speaking of no-presale I want to point out how we are distributing the tokens. Because Bittoken is a community rewards token we are distributing directly to the community via airdrops, promotions and what we call ” Bitt Parties” this is my airdrop amount…
https://discord.gg/PGAqS8vy

Goldie Rocket | Satoshi Club:
To be honest, I am already getting this token in tip cc
😁

Crypto 0G (2013):
Currently, we have fun parties and airdrops on the discord and distribute BITT to all community members that participate. When the Sandbox game is released, we will continue that fun on the game as well as BITT has a few plots of land on the game already, so holders of BITT will benefit lots of giveaways are done on the discord so if any of the people here are not apart of it yet you are welcome to join us. We have a promo coming up for Easter that technically has not been announced yet 😉

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
The beautiful thing about the project is that as more communities adopt BITToken, they can implement them into any product they want. So far the first use case for BITT is a discount on fees from the Bitswap aggregator https://bitswapdex.io/#/

As the Bitswap platform grows, there will be more discounts and opportunities for users to save on applications.

Communities can also use paying with BITT as a way to get discounts on other products like subscriptions or NFTs. The TIP.CC bot will also be integrated into Telegram, so maybe we could look at a partnership with https://t.me/Satoshi_club

Krtklplz:
Yeah, we were able to secure a promotional partnership with the tip.cc, team which allows us to promote the project on their server as well.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
No pressure of course. The point is that we want to give ANY community an opportunity to spread the BITT! 🙂

Andrés M. | Satoshi Club:
Waiting for the promo 😁 any easter egg for us?

Krtklplz:
We are estimating (estimating because we are continuously adding to this number) that we as a team have given out somewhere around 650,000 tokens to the community at today’s prices that would be somewhere in the ballpark of $175,000 in dollar value.

Andrés M. | Satoshi Club:
How many communities have you at the moment?

Crypto 0G (2013):
Still working out the details with the team. but it should be a good one. Hint: buy and hold at least 500 BITT. That’s all I can say for now …

Strainz:
For Those Who Want To Take Advantage Of This Little Hint Buy BiTT Here:
https://bitswapdex.io/#/swap

Krtklplz:
Currently, we have partnerships with 2 influencers communities Crypto Crow and Bitboy Crypto however we are in talks or in the initial steps to add more. We even have a game designer considering adding Bittoken as the currency within his game (inside info). We will help to incorporate Bittoken into any community that wishes us to do so.

Andrés M. | Satoshi Club:
Do you have something to add guys or can we proceed with the next question?

Crypto 0G (2013):
Next.

Andrés M. | Satoshi Club:
Q3 from Telegram User @konditer_rolex
I saw earlier the BITT token in the tip.cc. bot in Discord. Typically, this bot is used to actively distribute tokens among seekers of free drops and rains for activity on servers. What do you reward users for in discord? Or is using a bot a solution to the gas problem on the Ethereum network?

Krtklplz:
Absolutely! using the tip.cc bot allows us to distribute tokens to a wide variety of communities and individuals while skirting the gas fee situation however we have held airdrops outside of the discord servers. We had an airdrop shortly after launch to reward community members who were using the Bitswapdex and Dexkit powered aggregators. This was dropped directly to wallets and gas covered by the Bittoken project.

Crypto 0G (2013):
Tip.cc bot is a great solution for us to help distribute and reward the community via discord and when support for Telegram is ready we plan to use them as well to do airdrops via telegram. it does help save ETH gas fees upfront.

Goldie Rocket | Satoshi Club:
Thank you very much for your answers! Ready to proceed to the next question?

Krtklplz:
Let’s do it!

Andrés M. | Satoshi Club:
Q4 from Telegram User @Brainchest
As a community administrator, I am interested in how flexible the rewards can be. Is it possible to reward community members for tweeting a post that tracks a new user’s registration in a telegram?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
ANYTHING is possible with BITToken! Once administrators have control of a discord wallet packed with BITT, they can incentivize community calls to action. That is one of the absolutely BEAUTIFUL things about the project. There are so many communities out there, but because of that it is difficult to maintain momentum. BITT is a great way to keep people around and keep them happy. 🎉

Just want to highlight this again. With these kinds of drops, who wouldn’t want to support the token and the community?

Crypto 0G (2013):
This is a pretty technical question and up to the person doing this and would require more than just BITT, you could do it though but via Telegram that I know of at the moment. Tip.cc and collab.land is a solution I would use. but tip.cc does not support telegram until later this year.

Andrés M. | Satoshi Club:
I work as CM, and it’s true, that’s a great way to increase the activity in the groups.

Goldie Rocket | Satoshi Club:
Is there an opportunity for a tweeter?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
One of the things we did in our server early on is building our Twitter following. Every time we increased our Retweet count for a specific tweet, we would airdrop BITT. This was an EASY way to reward engagement.
Give us a follow for event announcements! https://twitter.com/BiTToken_Club

Andrés M. | Satoshi Club:
Are you looking for telegram options? For example tip.cc

Krtklplz:
Not only was it a way to reward engagement but was super fun for both us and the community! I would like to point out that some of our community engagement parties have lasted for days on end.

Crypto 0G (2013):
Currently, our focus is more on Discord it’s a lot more flexible and controllable than Telegram, but we will continue using tip.cc
When they have support for TG, I’m sure we will use it to reward our members.

Andrés M. | Satoshi Club:
Thank you for the clarification. Ready for the next question guys, or do you want to add something else?

Goldie Rocket | Satoshi Club:
Don’t forget to share with Satoshi Club when releasing this feature😉

Crypto 0G (2013):
Yes of course we 🧡 your community and appreciate you having us here.

Andrés M. | Satoshi Club:
Q5 from Telegram User @Izamg
I would like to know about the BITToken ultimate goal. What do you expect to accomplish within the whole crypto ecosystem? How do you plan to leave your mark and impact the crypto users? What long-term advantages will you bring to the crypto space?

Crypto 0G (2013):
Future Utility
The BITToken project is constantly evolving and prioritizes integrating multiple products and services seamlessly into the diverse sphere of crypto communities. Members of the Bitsquad and other participating communities can expect to receive regular rewards for their support and contributions to the continuing success of the BITToken project. This is the core value of the BITToken and every future decision will be for the betterment of its holders because BITT is creating the largest and most dynamic community in crypto. The future of the BITToken project will be dynamically attuned to the rapidly changing crypto markets. Products and services will continue to be developed and the utility for BITT will expand dramatically along the way. The eventual result will be the most robust and valuable ecosystem in the cryptocurrency space.

source: https://www.bittoken.club/litepaper/

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
We’re all crypto heads here. That is a FACT. We all have differences, however. We are involved with different projects and we have different values. One thing is certain, however. We LOVE crypto and we want to see adoption increase across the board. BITToken is all about increasing adoption and bridging the gap between hardcore crypto heads and newbies.

Additionally BITT knows that people give based on what they get. We believe that regular rewards will incentivize community growth and interaction while also providing a link BETWEEN communities in the space. We have an ambitious goal, but we are not going away, no matter what.

Crypto 0G (2013):
Our ultimate goal is to be a community-focused project and we will strive to become the token that big communities want to use… We are still a very new project and surely will evolve over time.
https://www.coingecko.com/en/coins/bittoken

Andrés M. | Satoshi Club:
Could you tell us about your roadmap? Which is your main objective for 2021?

Krtklplz:
The focus is the community… Building communities and strengthening community. That in and of itself will have a lasting impact on the space as a whole.

Strainz:
Their Will Also Be A Party For The Community In BitBoy Lab Discord Next Friday 4/2. Join Us!
Discord: https://discord.gg/PGAqS8vy
Tweet: https://twitter.com/BiTToken_Club/status/1375872978823614467

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
This is EXCLUSIVE NEWS GUYS. You are the 1st to KNOW!

Goldie Rocket | Satoshi Club:
Community is the blood of the project! This is power and success! 🚀🚀🚀

Crypto 0G (2013):
Roadmap:

Q1 (2021)

• Launch of BITT NFT Marketplace.
  • Value.
    The NFT Marketplace will allow users to buy and sell any NFT including exclusive NFT’s that will be usable in Sandbox.game and the BITT ecosystem.
• Launch of The BITT DEX - Value Next generation DEX with free cancellation / placement of orders.

Q2 (2021)

• Launch Advanced Trading Tools for DEFI.
• Value Users of the upcoming BITT DEX and BITT Advanced Trading Tools such as limit orders, stop limits and arbitrage bots will need to hold BITT in order to use these features and are rewarded for holding BiTTokens through the staking mechanism.

Q3 (2021)

• Multicurrency Support
  • Value support BITT Tools on other blockchains.

Q4 (2021)

• Atomic Swap
  • Value Make Atomic Swaps within BITT Tools.

We have a lot of use cases planned for the Sandbox.game for BITT, still waiting on the launch of their game.

Andrés M. | Satoshi Club:
Thanks for share it, interesting info. “Advanced Trading Tools for DEFI” – like which?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
This will be for the upcoming BiswapDEX that is in production. It is powered by DEXKIT and will feature GAS FREE LIMIT ORDERS, KeeperDAO order book, as well as eventual trading bot integrations. The Bitswapdex.io is also getting a MAJOR upgrade with the integration of BSC into the aggregator!

Crypto 0G (2013):
Beta Dex is live now https://bittdex.io

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
You can try out the beta version at beta.swap.dexkit.com

Krtklplz:
As you know Bittoken is partnered with Dexkit and therefore uses the Dexkit white label solutions to include the Bitswap aggregator and the BitDex. Whereas holding Bitt will allow for further rewards on these platforms.

Andrés M. | Satoshi Club:
Thank you guys for the answers, you are doing impressive work 😁👏 Well, it has been an amazing time, now let’s proceed with the last question of this first part of the AMA, are you ready?

Crypto 0G (2013):

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
I think it is important to highlight what crypto stands for. DECENTRALIZATION. The BITToken itself is HIGHLY decentralized with liquidity on UNISWAP, MOONISWAP, and BILAXY. We are also actively working on Bridging the BITToken to the BSC. Having multiple sources makes trading BITT like a game in which you can use our Bitswapdex.io aggregator to take advantage of arbitrage opportunities.

Additionally, there is tremendous upside potential as we still only have around 1000 holders and a micro-market cap of below $1m. https://www.coingecko.com/en/coins/bittoken
NEVER FINANCIAL ADVICE!

Krtklplz:
In addition to everything mentioned above, Holding Bitt also has the added benefit of allowing entry into some special chat rooms within the Bitboy Lab discord server… One such chat room allows members to receive trade signals from The Butcher, a professional trader and market analyst!

Andrés M. | Satoshi Club:
So, VIP benefits for holders.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
We have some absolutely INCREDIBLE traders in the lab. If you hold a certain amount of BITT, you can unlock exclusive channels that are normally only accessible to VIPs!
https://discord.gg/bitboylab

Crypto 0G (2013):
Yes, hold 500 BITT in your personal wallet to get access to that VIP channel.

Andrés M. | Satoshi Club:
Wow, then what are the benefits for Bittoken whales?

Krtklplz:
This is the 500 bitt holders chat.

Crypto 0G (2013):
We have yet to implement benefits for whales chat yet, but there definitively will be something in the Easter promo for the users in that chat.

Andrés M. | Satoshi Club:
Thank you so much, for share all this info with us guys, is time for the last question of this part.

Q6 from Telegram User @belkysgonzalez
I read that the Bitswap wallet supports ERC20, BTC and Polkadot, right? Does this mean that Bitswap has cross-chain features? Have you thought about integrating BSC too, since lately is attracting users’ attention?

Crypto 0G (2013):
BSC is planned yes. We will try to implement BITT into as many chains as we can.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
The 0x protocol is what DEXKIT is built on. BITToken is able to benefit secondhand from the implementations of the 0x protocol. “Middleware” is something that will become more and more needed as secondary chains like DOT and ADA start to develop. BITToken and DEXKIT are at the top of the heap when it comes to cross-protocol and cross-chain integrations!

Goldie Rocket | Satoshi Club:
And that’s great. cross-chain is what is needed now in crypto. Well guys! this amazing part of the AMA is over. but we’re moving on to an even more exciting part – live questions in open chat. ❤️🚀
Аre you ready? Or want to add something?

Crypto 0G (2013):
Ready.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ ꧁ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ ꧂

🤠 You say that if users own at least 2500 BITTokens they will receive up to 90% discount on fees and those holders will only pay 0.01 fees for each trade, so how do they achieve such a low fee? If I have more than 2500 BITT can I receive a higher discount? Doesn’t this generate any loss for the project?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
So the idea with fee collection is that we want to be THE PLACE to trade tokens on Defi protocols! The Bitswapdex.io platform searches over 20 different DEX protocols on ETH and will search 8 protocols on BSC with the new integration. This means that especially for LARGE trades for tokens across multiple liquidity sources, you can get MORE TOKENS FOR YOUR SWAPS.

Anyone that uses the Bitswap platform without holding BITT will be subjected to a slightly higher platform fee that will help grow the project in the long run. Also, hodling BITT gives additional utility to Discord integrations, NFTs, as well as upcoming SANDBOX integrations!

Low platform fees are just another way that we try to reward users of the platform and token holders!

Q2 from Telegram user @ Rosemary Bianco

Any thoughts on the AMA at Satoshi Club? Did the BiTToken team really like it?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
Personally, I LOVE this group! We always feel welcome here and we love to evangelize about our project and what we are doing!

This group really embodies EVERYTHING that the BITToken project values. It is a diverse group of intelligent people who are discerning about what projects have true long-term value.

We believe that being one of the only true decentralized community tokens will help us to stand out, and it will only be a matter of time before we see more adoption and development of the rich BITToken ecosystem! 🚀

Q3 from Telegram user @ Anderson Ico speaks community is scam

Do you have plans of burning and buyback of $BITT? how do you want to maintain its price and supply uniformly?

Crypto 0G (2013):
We have plans to use the NFT marketplace when launched to possibly burn BITT.

The sale of an NFT will activate the BITT faucet calculating a percentage of the ETH used to purchase the collectible to subsequently burn BITTokens. Some NFT purchases will also reward you with BITT airdrops directly to your wallet. Each NFT is uniquely individual and possesses special utility.

Q4 from Telegram user @ Icy

I see that Bittoken also have farm system but do you have benefit for user/project who hold BITToken? Thank you.

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
I can’t believe we forgot to highlight this! 🚜

Currently, you can farm for BITT with KIT/ETH LP on Sale.dexkit.com! We have a solid group of holders and we love to reward them in this way.

We also will have a BITT staking pool in which users can stake their BITT and earn ETH from the fee pool in return! We know that this will make long-term holders want to continue to support us and potentially even acquire MORE BITT!

Q5 from Telegram user @ Comfort Akin

Hi 🖖Recently, the first BITToken’s centralized exchange arrived, apart from trading activities. how can users benefit from this listing👍

Strainz:
Well by BiTToken being listed on Bilaxy it gives more choice to BITT holders and prospective buyers to trade BITT where it is most convenient. This makes it much more convenient for example say someone who likes to use mostly BTC wants to buy BiTT but doesn’t want to use the DEX, this makes it much easier for them to acquire BiTT and swap from BTC.

Q6 from Telegram user @ Surendra Satoshi Club

Can anyone please give me the contract address to buy BITT? Where can I buy any CEX or DEX?

Strainz:
BiTT Contract Address: 0x9f9913853f749b3fe6d6d4e16a1cc3c1656b6d51

You can purchase BiTT through these means below!
BitSwap: https://bitswapdex.io/#/swap
Bilaxy: https://bilaxy.io/trade/BITT_ETH

Q7 from Telegram user @ Rosemary Bianco

🌲 🐂 🌳 🌲
🍃 🌲 🏇
🐂 🌳 🐂 🐂 🏇
🍃 🌳 🐂 🏇
🌲 🐂 🍃 🌲

According to its website, practically the BITT has the objective of constantly rewarding and benefiting the community, offering incentives, discounts, air launches and other things. My question is, why have you decided to reward the active community so much? Why have they focused on their users having fun and benefiting from constant rewards?

🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠:
This is much of what the project is based around. It is a project that is designed to be accessible to newcomers and hardened crypto heads alike. We believe that crypto can be more than just a means of making money. The social implications of crypto are something that is often overlooked in the space.

Especially with the current state of the world, crypto holds the key to not only financial freedom but also social freedom in the form of self custody of personal data.

NFT integrations are a huge part of this social interplay. ALL NFTS will be available for purchase as soon as the platform is complete, and we have a BIG promotion coming up to celebrate our progress!

Q8 from Telegram user @ Ate Pie

As a community-driven project that is designed to reward members of every crypto-community for their contribution and participation in to the crypto space. So, how will you intend to reward the community? How do you also intend to reward your loyal community members?

Crypto 0G (2013):
We have been rewarding our community by distributing BITT to as many users as possible via airdrops on discord. Any community can adopt BITT and reward its loyal members. 19% of the 42M BITT is dedicated to Marketing, Airdrops and community payments.

Q9 from Telegram user @ KYC

How and where can I buy Tokens to hold in long term?

Crypto 0G (2013):
Currently, the best place to buy BITT is via our aggregator at https://bitswapdex.io
You can hold them in any ERC-20 wallet.

Q10 from Telegram user @ Johnny ℹ️🅿️

🙋‍♂️Hello. Is your Founding Member NFT limited to the project Founding team members or Will it be possible for late comers to get it? Also, apart from this Founding Members NFTs, will there be other NFTs that you are going to have which will have great utility?

Crypto 0G (2013):
The founding member NFT will go out to all users that farmed over 10k BITT during our initial launch. Users will be able to use them or sell them. We will launch more NFT with special use cases in the future.

Part 3 – Quiz Results

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

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PART 1. Introduction of Cere network header project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a Decentralized Data Cloud Platform – Cere Network.

Cere SaaS-DeFi enables enterprises to better utilize their sidelined capital, optimize their financial operations, create frictionless payment experiences for their customer base, and tap into the supercharged liquidity of DeFi.

DxSale.network is building a true decentralized, blockchain agnostic user experience of the token journey.

The plan of AMA session:

1. Part – Introduction and preselected questions.
2. Part – Live questions
3. The Quiz about Cere network

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club – @GoldRocket27 

Andrés M. | Satoshi Club – @AndresM77

The Representative of the project:

Martijn Broersma – @broersma – CMO @ Cere Network

Introduction of Cere Network project.

Gold rocket | satoshi club:

Hello, dear satoshi club community!

We conclude our today’s ama marathon series with cere network.  😃 today our guest is @broersma – Martijn Broersma, head of marketing. Hello and welcome to satoshi club, Martijn!👋

Andrés m. | satoshi club:

@broersma welcome to satoshi club, we are glad to have you here, how is going your day?

Martijn broersma:

Great! Been travelling from Ams to Minsk today, first time in months to be on the road for business again 🙂

And happy to be here of course!

Gold rocket | satoshi club:

We are very excited about the upcoming ama and are very happy to have you here today on the way to Minsk 😁

Andrés m. | satoshi club:

Good luck in your travel💪

Martijn broersma:

Just got settled for this ama. Looking forward to the questions!

Andrés m. | satoshi club:

We are so interested in your project; a lot of questions are coming😁

Gold rocket | satoshi club:

Let’s start!

Introduce yourself, please. How did you get to be involved in the crypto & cere network?😊

Martijn broersma:

Sure!

I studied law in Amsterdam, started working for the Netherlands biggest online notary, which turned into a legaltech startup that did contract lifecycle management, where i became coo.

That legaltech spinning-off into LTO network for b2b enterprise blockchain solutions, where I had an amazing time and experiences in doing the LTO token sale, getting listed on exchanges, going to Binance and even integrating the un to the lto chain.

After 5 years it was time for a new challenge, which I found at cere, which has been a crazy but exciting journey so far. You’ll learn why in the upcoming answers 😉

Andrés m. | satoshi club:

Great background

Gold rocket | satoshi club:

Nice, 😊 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 cere network?

Martijn broersma:

The team has been working on cere for over 2 years, which was accelerated by the Binance incubation program.

Cere network is the first decentralized data cloud platform optimized for service data integration and data collaboration. While most blockchains are simply distributed ledgers, the cere network of blockchains allows for turnkey hyper-customization of enterprise data ecosystems.

I think our future plans will all follow from the upcoming answers!

Gold rocket | satoshi club:

It sounds very in the spirit of the times. Mass adoption in action.

Martijn broersma:

Onboarding fortune 1000 enterprises as we speak!

Gold rocket | satoshi club:

Grandiose plans and goals!!! 👏👏👏

Thanks a lot for the intro! Ready to jump on to community questions, or would you like to add something? 😊

Martijn broersma:

👉 follow Satoshi Club

👉 join cere network

Telegram group

👉 follow cere network Twitter 

Gold rocket | satoshi club:

Join please satoshi clubbers🚀🚀🚀

Martijn broersma:

Fire away with the questions! @goldrocket27

Preselected questions about the Cere Network DeFi project.

Andrés m. | satoshi club:

Q1 from telegram user @highpee

While reading the details of your project, i came across a concept which cere is developing which is known as “saas-defi”. Can you explain more on the peculiar advantages of this feature? What does this concept entail and how will it integrate the traditional business model into DeFi? What resources will a traditional business client require if they intend to build on the provisions of this concept and migrate their assets and contracts from cere layer 2 decentralized hub into the realm of decentralized finance?

Martijn broersma:

In short, every value transfer, enterprise asset, b2b contract, and invoice can be mapped to the DeFi realm via cere’s saas-DeFi modules

This way, cere instantly offers next-gen finance for corporate finance departments of enterprises with a click of a button, fully automated.

Together with our partners from the saas-DeFi alliance, we will be the first projects to bridge enterprise capital with DeFi liquidity.

More info will follow soon! Super excited about this feature

Gold rocket | satoshi club:

What are the advantages of your proposed model?

More precisely than you are proud of at the moment😊

Martijn broersma:

Of saas DeFi?

Gold rocket | satoshi club:

Yes

Martijn broersma:

The fact that we’re already onboarding these enterprises to the cere ecosystem. Once they’re in, we can start introducing more and more features to them. This is where cere is truly differentiating itself from its competitors

Andrés m. | satoshi club:

Could it be applied to centralized enterprises?

Martijn broersma:

Easily. It’s not the tech that’s the hurdle, it’s the trust that businesses need to have in your company and team

I’ve been selling blockchain to enterprises for 5 years. Every time you run into the same walls that you need to break down since they’re cautious of everything blockchain. But once they’re in, since you offer direct value, you can basically sell them anything you want.

Such as the cere open data marketplace, but we’ll get to that in a moment I think 🙂

Gold rocket | satoshi club:

You are a great marketer 😁👍

Andrés m. | satoshi club:

Indeed, it takes importance in this times when blockchain has been implemented in the companies to reduce cost and increase value

Gold rocket | satoshi club:

Thanks for the answer and clarification. Ready to move on to the next question? 😊

Martijn broersma:

Yes!

Andrés m. | satoshi club:

Q2 from telegram user @garrinepotter 

You are already being called a future competitor of companies such as Salesforce and oracle. And your offer of full integration of various operational areas of the company is a miracle solution. So, what do you offer companies to manage their cash reserves? You have huge support from serious players in the crypto industry. This is inspiring confidence, but so far it is absolutely not clear what innovation you can offer us.

Martijn broersma:

Traditional CRM’s are outdated, expensive, hard to integrate with today’s intelligent (ai) and data-driven solutions. New data cloud solutions like snowflake are disrupting these traditional crm’s by offering much more flexibility and faster integrations, e.g. Bringing near real-time computing onto highly dynamic and customizable datasets.

The key to cere’s approach is that we bring even more data agility and more data interoperability, and we have an open approach compared to the proprietary snowflake; also we are more focused on consumer enterprises with more highly customizable solutions in special verticals.

As opposed to the sap/oracles from this world.

Andrés m. | satoshi club:

What are the main features that can make cere different to direct competitors?

Martijn broersma:

Our decentralized data cloud platform.

Creating individual wallets/ledgers for every customer creates a whole new world of data-management possibilities.

Much more info on the exact workings of the DDC will be published in the white paper that will be published shortly.

Gold rocket | satoshi club:

Yes, the benefits are obvious! 👍

Andrés m. | satoshi club:

We will be waiting for it to know more, that’s really interesting🤔

Martijn broersma:

Follow our TG announcement channel to be the first to read it! t.me/cerenetwork_official

Andrés m. | satoshi club:

Satoshiclubbers, let’s join.

Thanks for the detailed answer, are you ready to proceed with the next question?

Martijn broersma:

Keep them coming.

Andrés m. | satoshi club:

Q3 from telegram user @korryl

After learning about your project, cere network gives a new solution and strategy to increase their brand network. So what is the effect for retail level? Do small projects and small retail can get benefit from this strategy?

Martijn broersma:

Great question

Because that’s the project’s main goal – making our solution available for every business.

So first we’re building custom solutions for fortune 1000 enterprises for revenue and coverage, while in parallel working on data-driven use cases and self-service tools.

This approach will allow us to scale like no other enterprise blockchain project has done before.

Gold rocket | satoshi club:

Great infographics btw 👍

Andrés m. | satoshi club:

Could you tell us about some of those enterprises? I mean we want to know about your current and planned partnerships.

Martijn broersma:

We have 3 ongoing enterprise integrations, with the first one already live is with a travel center chain with over 300 locations in us, limited beta is already live, and us full rollout is planned for April 2021 reaching over 100k active users. Two other integrations with fortune 1000 companies are already set up for q2 2021, the first of which alone will scale from 1m to 50m users over 2021.

Andrés m. | satoshi club:

Wow, those are great milestones.

Gold rocket | satoshi club:

Scaling corporate business is very important😊

By the way, how did you settle the issues with the American crypto legislation?

Martijn broersma:

Haha, you have no idea how much headache this has been. But we achieved it. More info on this soon via republic.co!

Gold rocket | satoshi club:

I can only guess. Once I came across this. And I can say that you are really winners since you managed to solve it 😁👏👏👏

Gold rocket | satoshi club:

Thank you very much for your answers and information. Are you ready to proceed to the next question?

Martijn broersma:

Let’s do it 🙂

Andrés m. | satoshi club:

Q4 from telegram user @pratze

There is a new announcement this month from cere network, that you already work together with Darwinian (decentralized of the cross-chain bridge). Is there any new feature in the cere platform because of this partnership? What application that Darwinia will provide cere network with?

Martijn broersma:

Darwinia’s dot-eth bridge is a perfect example of how we’re planning to utilize our partner’s tech. We could build it ourselves but integrate is simply much faster and easier for us. Darwinia has been a great partner and I’m very excited to see the bridge connected to cere!

Gold rocket | satoshi club:

What cooperation with darwinia gave you

Martijn broersma:

The integration is planned for post-crowd sale & alpha mainnet release

Andrés m. | satoshi club:

Btw, talking about cere as a platform where security is so important, have you been audited, or are you in the process to be? Please share details

Martijn broersma:

Yes, we’re currently undergoing an audit by the best security company in crypto.

We’ll release these results soon. Almost done 🙂

Andrés m. | satoshi club:

Any short easter egg for us? 😁

Martijn broersma:

Project is safe 😉

Andrés m. | satoshi club:

We are happy to know it. Now, tokenomics is an interesting topic for our community, could you share how is distributed the amount of tokens?

Martijn broersma:

Unfortunately not yet… Again, follow the announcement channel to be the first to know!

Andrés m. | satoshi club:

Thank you so much Martijn, we will be expecting that. Would you like to add something before the next question?🥳

Martijn broersma:

Nope, all good!

Andrés m. | satoshi club:

Q5 from telegram user @xusuo

I read from your site that the Cere network has backing Binance labs, is that mean the Cere network will launch in BSC blockchain? Is there any plan in the future to expand to other blockchains like eth, HECO, or maybe Polkadot?

Martijn broersma:

Cere has built its own layer-1 blockchain network with customized substrate components, driving to be one of the foundational level-1 blockchain networks in the Polkadot ecosystem. This effectively allows cere solutions to extend to all other w3f projects natively, and further to other decentralized networks (like BSC) in the future.

Andrés m. | satoshi club:

Thank you, so clear answer. I know you’re a busy person, are you ready for the last question of this segment of the ama?😃

Martijn broersma:

Ready!

Andrés m. | satoshi club:

Q6 from telegram user @beterror203

How can cere facilitate the transfers of assets between chains and guarantee interoperability with other Polkadot / Etherum tokens in order to provide security above all business for the consumption of benefits of blockchain technology such as privacy, micropayments, identity among others?

Martijn broersma:

Cere being a future Parachain will cover this. Being a Parachain allows for this necessary interoperability, where other parachains like Darwinia can take care of the ETH bridges.

We’re super excited about these upcoming auctions. Looking out to the upcoming Kusama para chain auctions

Gold rocket | satoshi club:

Thanks a lot for your answers! Ready for the live part? In 2 minutes please select the top 10 questions and answer them😊

Martijn broersma:

Lets goo 🚀

Andrés m. | satoshi club:

Thank you Martijn, I have to recognize that you have an amazing project with great fundamentals.

Let’s go🥳

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

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Cere Network crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @Edooooooooi

Describe your main features that differentiate your project from other projects and what competitive advantages do you have for the current project?

Martijn Broersma:

Similar to Snowflake, Cere has tools to extract and virtualize these data with near real-time event-sourcing (transforming and extracting) into customized datasets for ML, or analytics, or partner integrations.

The key differentiators with Cere are
1) asymmetrical data encryption allows any computing process such as an AI agent or partner integration script to be dynamically provided with signatures to access certain customer datasets, this means data can be securely shared into decentralized used cases such as the Cere Open Data Marketplace (similar to Snowflake’s data marketplace, but not locked to just 1 vendor);

2) The entire system is designed from the ground up to focus specifically on individual user data encryption, privacy-compliance, and hyper-personalization, which is what traditional data lakes, data warehouses, and CRM’s are not designed to do.

Q – 2 from a telegram user @moe_808

I read on your website that you are currently running a testnet, can you tell us how to join the testnet? 

Martijn Broersma:

We’re currently running the testnet with a small group of testers. If you want to be included in the next round, send an email to team@cere.network!

Q – 3 from a telegram user @nadee5

Hello sir, Can cere network be considered as a global project?

Martijn Broersma:

We have offices in SF, NYC, AMS, BLN, MSK. So yes, we’re pretty global 🙂

Q – 4 from a telegram user @cryptofollower

I think you made a mistake in creating a partnership with Republic as for KYC partnership for whitelisting. They want passports from people outside of the Canada and US. So I couldn’t apply for whitelisting with my ID. Can you create another way for KYC?

Martijn Broersma:

We’re doing a sale with DAOmaker and (SCOOP!) a third platform that will be annoucned soon. Afaik these two won’t demand a passport.

Q – 5 from a telegram user @alptrader

Polkadot is still in the development phase and not ready for big applications like this. Do you think building your project with Polkadot is the correct choice?

Martijn Broersma:

Substrate currently facilitates all our needs. Interoperability won’t be requested by companies by 2025. Yet we’ll offer it in 2022 via Polkadot 😉

Q – 6 from a telegram user @smelekin

I see a jobs page on the website. Do you hire people for the Cere project?

Martijn Broersma:

We’re always open to talent! Check out the jobs page, or send in an open application to team@cere.network

Q – 7 from a telegram user @lastcalll

Cere offers an in-drop solution that drives a brand’s hyper customization strategy. What benefits does this have for a brand at the retail level? Can small retailers benefit from this?

Martijn Broersma:

Good question, but already answered above! Look it up 😉

Q – 8 from a telegram user @highpee

🙋‍♂️Hello. One of the problems of the Decentralized Data and Finance platform is that they run an Open Data Marketplace which unleashed vendors and customers data without due-diligence regards to PRIVACY or COMPLIANCE with applicable Data Regulation law. How will Cere capture and encrypt an individual’s data transactions or interactions and how is your system developed to be compliant with relevant GDPR or CCPA laws?

Martijn Broersma:

Yes, we have a lot of ambitious ideas around NFTs for our platform, haven’t seen anyone do it like the way we will be approaching the space yet.

Q – 9 from a telegram user @MCBTrade

Are you planning to develop API for external projects that will be attached to your platform or can the custom application be hosted in CRM?

Martijn Broersma:

Expect the same set of integrations as you see with SalesForce and Snowflake with Cere!

Q -10 from a telegram user @biggdata

It follows the current trend in first-party data management initiated by companies like Cere’s Snowflake. So, can you tell if Cere can guarantee to be more ethical, more efficient, and more interoperable than its counterparts?

Martijn Broersma:

We can! Have a look at the Vision paper that goes in-depth on how we achieve this ethical data on our website: www.cere.network

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Cere Network project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: Cere Network

Telegram group  | Vision paper |  Tweeter  |  Website  |  Medium  

PART 1. Introduction of RAGE.FAN project and community questions.

Hello, Satoshi clubbers and guests of this site.

Today’s online sports industry trades on false promises of getting rich quickly. Rage.Fan aims to address the lack of transparency and ensures that participants get the maximum benefit.

The plan of AMA session:

1. Part – Introduction and preselected questions.
2. Part – Live questions
3. The Quiz about RAGE.FAN

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club – @GoldRocket27 

Andrés M. | Satoshi Club – @AndresM77

The Representative of the project:

Sat@Rage.Fan Fantasy Sports – @SatheeshAnanth

Vivek Kumar – Marketing Head at Rage.Fan – @RageFanSocial

Introduction of RAGE.FAN project.

Gold rocket | satoshi club:

Hello, dear community!

Sat@rage.fan fantasy sports:

Hello there

Gold rocket | satoshi club:

We are pleased to announce our next ama with rage fan😊

Andrés m. | satoshi club:

How is going your day my friend?

Hello @satheeshananth @imavericks and welcome to Satoshi club

Vivek kumar:

Hello everyone! It’s good to be here!

Andrés m. | satoshi club:

Is an honor for us 👍

Gold rocket | satoshi club:

Today our guests are @satheeshananth @imavericks 😊

Welcome to satoshi club

Sat@rage.fan fantasy sports:

All well – crazy times but all good crazy 😊

Gold rocket | satoshi club:

We are very glad to see you and excited about the upcoming ama😊

Sat@rage.fan fantasy sports:

Great to be here as well. I am looking forward to an exciting conversation.

Andrés m. | satoshi club:

We as well, to know more about you and your project 😃

Gold rocket | satoshi club:

Well! Guys! Let’s start?

Introduce yourself. How did you get to be involved in crypto & rage fan?

Tell us please about yourself and your position as a rage fan.

Sat@rage.fan fantasy sports:

I am satheesh, the CEO of rage.fan – have been in tech for the last 26 years and in blockchain for 4 and crypto for 2. Been in enterprise firms supporting and delivering large global projects and products, have managed large state it systems, and driven 100+ million dollar business. Rage.fan is a passion-driven initiative that we have started to bring the benefits of blockchain, crypto community, and the sports ecosystem to bring better value for all stakeholders

Vivek kumar:

My name is Vivek Kumar. I am an MBA graduate from iim Shillong and ieseg Paris. I have a total experience of 7 years across strategy & consulting, marketing, and program management. Currently, I am looking after the marketing side at rage.fan. In the past, have worked with large MNCs and consulting firms.

Gold rocket | satoshi club:

Wow! Amazing background! 👏👏 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 rage fan?

Sat@rage.fan fantasy sports:

Frankly, projects of this nature are evolving continuously and in tune with the expectations of the community. So I am not sure if we will ever say done – having said that, we do have a roadmap that we are executing towards and believe that it will allow us to deliver an interesting and exciting experiences for our users over the next year and more. The platform roadmap is available at www.rage.fan

Andrés m. | satoshi club:

We are excited to know more about your targets for this year and milestones.

Great experience 👏 guys.

Sat@rage.fan fantasy sports:

Bring decentralized community benefit-focused fantasy sports platform that can be completely and truly enabled to deliver maximum value for the fans

Gold rocket | satoshi club:

This is quite an interesting niche in the crypto industry👍

Thank you very much for the great intro! Would you like to add something or are you ready to jump into community questions? 😊

Vivek kumar:

Before we move ahead – something I need to clear and it’s important also. Rage.fan is just not a fantasy sports platform but thinks of it as an ecosystem where you have lots and lots of things and secondly $rage is just not a game token rather way beyond that.

Gold rocket | satoshi club:

Sounds good😉

Vivek kumar:

Yes.

Andrés m. | satoshi club:

Thanks for that clarification

Sat@rage.fan fantasy sports:

Sure – we are excited to hear their questions! I think @imavericks has something more to add.

Andrés m. | satoshi club:

Ok, let’s wait for him

Gold rocket | satoshi club:

@andresm77 shoot please🏑(when everyone is ready)😊

Preselected questions about the RAGE.FAN DeFi project.

Andrés m. | satoshi club:

Q1 from telegram user @juansb07

What are more reasons why rage fan decided to focus on sports and games like cricket, soccer, volleyball, kabaddi, basketball and hockey? Did they do it solely because there is an exponentially growing user base of over 2 million sports fans? Or are there other characteristics they relied on like simple entertaining or passion for sports?

Vivek kumar:

The core is always about the passion that you want to bring in whatever you have for something and you want to deliver something valuable for everyone. So, the fundamental is about passion towards sports.

Secondly, in anything that you do eventually, you chase 2 things – scalability and diversification. Scalability comes when you reach masses and to do that, either you need to have low-cost model or feature diversification. In this it’s a sort of you can say both as in later stage these will start coming into the picture.

Done.

Gold rocket | satoshi club:

This is very smart: diversification and scalability!

Andrés m. | satoshi club:

Sports tokens are so famous at the moment, there are different platforms with the same topic, what makes rage fan different from the direct competitors?

Gold rocket | satoshi club:

I understand. Now there is general tokenization of sports teams.

Andrés m. | satoshi club:

That means amazing news for sports lovers like me 😁

Gold rocket | satoshi club:

By the way, your tweeter is very popular. 25k + readers it says a lot! 😉

Andrés m. | satoshi club:

Wow, a big number of followers😁

Sat@rage.fan fantasy sports:

We have started off with a mission – we believe that sports have the potential to bring the whole value, opportunity, and understanding of the crypto ecosystem to the mainstream by providing value built on people’s passion. We have just released an app in alpha called scramble that is used to collect trade tokens (which will be equal to rage once we launch) which are inspired by pokemon go and are all about education of tokens and what they are about while you play

Gold rocket | satoshi club:

Is this a mobile app? Can you please share with our satoshi clubbers?

Sat@rage.fan fantasy sports:

It is a mobile app and we should be ready for a beta launch later next week! We will be thrilled to have the satoshi team have an exclusive day with it – if they promise to help us improve and give us feedback while they also join us in the community and become users of the project 🙂

Sat@rage.fan fantasy sports:

Similarly, we have announced the launch of the UNFTS  and the first set should be coming out soon – these are focused not on exclusivity based on design and artwork but around availability and more importantly around utility and perks that they bring to the table. We are combining NFTS  to make them almost like a loyalty card for purchase discounts

Andrés m. | satoshi club:

When you said that is how pokemon go, that means that the user should collect trade tokens walking around the streets?

Sat@rage.fan fantasy sports:

Yes, they will hunt tokens and who knows they might find some interesting NFTS  that they could use for various perks on the platform.

Gold rocket | satoshi club:

You have a lot of non-standard solutions👍

Andrés m. | satoshi club:

Will it be able for all the countries?

Vivek kumar:

Rage.fan has placed no restrictions on where the tokens will be made available and who can use the scramble app. Having said that, rage.fan will always encourage playing on the app in a responsible manner and to ensure that all players follow all the rules of the location and neighborhoods and not involve in any activity that could be unlawful, harmful, risky, or invades someone’s privacy.

Andrés m. | satoshi club:

Great work, we will expect of the official laucnhment 🎉

Gold rocket | satoshi club:

Big thanks for your answers! Ready for the next question? 😉

Vivek kumar:

Sure!

Andrés m. | satoshi club:

Q2 from telegram user @garrinepotter

Tell us about scramble – augmented reality-based token drop app.we still have time to apply to participate in testing? What conditions must i meet to participate in testing? What bonuses will alpha testers receive?

Vivek kumar:

So think of scramble like a tutorial before we launch the contests on rage.fan.

We opened the application for 100 volunteers and it got filled up like an hour or so at max. So, it’s a select-only invite as of now.

Rewards come in the form of trade as Satheesh was saying above and will be converted back to rage later after TGE. Then you will also be rewarded for discovering bugs and lastly, you stand a chance to be selected as one of the long-term ambassadors also.

Andrés m. | satoshi club:

How to join your ambassadors program?

Vivek kumar:

Again, I will have to say that round 1 is closed and we are preparing a shortlist from them. If required will open round 2 in coming time.

Gold rocket | satoshi club:

This means @garrinepotter has a good chance to participate👍

Andrés m. | satoshi club:

I think, our whole community have it

Gold rocket | satoshi club:

Thank you very much for your answers! Ready for the next question or want to add something?

Vivek kumar:

I think we should jump to next. We are good to go.

Gold rocket | satoshi club:

We want you to feel comfortable. So, feel free 😊

Vivek kumar:

So nice! Thank you so much – really appreciate it!

Andrés m. | satoshi club:

So the clear answer, thank Vivek 😃

Andrés m. | satoshi club:

Q3 from telegram user @moe_808

I read on your website that the platform has a native token ($rage) that serves the dual purpose of “play system” and “community governance”, rage.fan is taking the utility of their token to the next level via ar token mining. So can you tell us how AR token mining works? And the difficulty levels available for ar mining?

Vivek kumar:

So, it’s like get out of your bed and other places of comfort. Go out and explore places and in the meantime get $rage and who knows NFTS also!

You can get $rage in 2 ways – on the map and in sporting events. Both mean exactly the same as it sounds.

In terms of difficulty, yes, it’s like 3 levels of difficulty in terms of time and value

Vivek kumar:

We have prepared an excellent article on the same. Encourage all to please give it a go:

https://medium.com/@ragefan/rage-utility-series-ar-token-mining-9bb367e79549

Andrés m. | satoshi club:

What is the probability to find NFTS?

Vivek kumar:

That one has to try out! 😜

Andrés m. | satoshi club:

Ha-ha I’m a collector, so I will try for sure 😁

Gold rocket | satoshi club:

I know you already have NFT prototypes. Can you share with us, please🙏

Vivek kumar:

Yes, give me a sec!

Gold rocket | satoshi club:

Wow! They are wonderful! ❤️

Vivek kumar:

Yes and not only this – these will be informative also. We are adding a little information layer to it also.

I have shared 2. These are prototypes. So you can expect what to expect when we will have a full-fledged in store

Gold rocket | satoshi club:

You have very good designers👍 I want them all😁

Vivek kumar:

One has to be good to work with me😜 But jokes apart – it’s about delivering something called a “WOW” factor and it’s important also because at the end of the day you are investing something (time, effort, emotions, etc.) and in turn, you would have some expectations also.

Andrés m. | satoshi club:

Ha-ha yes Is needed to catch all of them 😁

Vivek kumar:

One has to be good to work with me😜

Gold rocket | satoshi club:

No doubt😁

Gold rocket | satoshi club:

Also, we would like to know about your team. Who is on the project team?

Vivek kumar:

So, from the core team perspective:

— we all met Satheesh. He is the CEO

— I am marketing head

— then we amazing people taking lead positions as CTO, product head, and ops head.

It’s actually a very well-balanced team. I think the core team matters also a lot in terms of setting up vision and chasing that. It’s fine to have different methodologies but at the end of the day, vision should be aligned.

Gold rocket | satoshi club:

Absolutely right! 😊 ready to proceed to the next question?

Sat@rage.fan fantasy sports:

Today we have a total of 13 members on the team

Gold rocket | satoshi club:

Not so much for such an ambitious project👍

Andrés m. | satoshi club:

Amazing efforts of your team, are you looking for more members? Some vacancies?

Vivek kumar:

We talked about scaling earlier. So you never know!

Andrés m. | satoshi club:

Great, so are you ready for our next question?

Vivek kumar:

Yes absolutely!

Andrés m. | satoshi club:

Haha nice stickers 😁

Andrés m. | satoshi club:

Q4 from telegram user @gutike95

I understand that $ rage tokens could be used to reward winners of fantasy games, but will they also reward them with NFT tokens? Or those NFTwill be exclusively used for big events and competitions?

Andrés m. | satoshi club:

Partially covered, no? I think you can tell us different ways to win NFTS   different from the app

Vivek kumar:

You have to bear us for some more time on this as we are very close to getting everything out in a very lucid and detailed manner.

Andrés m. | satoshi club:

Btw, could you tell us more about your partnerships? Have you contacted some sports teams to work with them?

Vivek kumar:

So, so far, we have Зolygon, bionomy, Зlaycent and Kylin. As we speak, we are in talks with a couple more and we are very excited about them. It will be out soon.

Andrés m. | satoshi club:

We will be expecting news about it, congratulations 👏

Gold rocket | satoshi club:

Yes, Satoshi clubbers are very curious. And they want a hints 😉😁

Vivek kumar:

No, the idea is that we want to make sure it does justification with expectations and anticipations

Gold rocket | satoshi club:

Familiar names. Many of them are our friends and partners 🤝

Vivek kumar:

Nice.

Andrés m. | satoshi club:

Vivek kumar:

Yes, we are hopeful too and working hard on it.

Andrés m. | satoshi club:

Are you ready to proceed with the next question?

Vivek kumar:

Yes sure

Andrés m. | satoshi club:

Q5 from telegram user @belkysgonzalez

I noticed that polygon (previously Matic) is a partner of rage fan. Would you tell us what was the motivation to partner with them? And will there be other partnerships coming in the future?

Vivek kumar:

Once our product is deployed, we expect that the rage.fan platform will process an enormous amount of data on a daily basis. In its current state, the Ethereum framework is non-scalable and non-sustainable. Transactions might end up getting stuck in queues if the Ethereum network is congested unless users are willing to pay exorbitant transaction fees. This would kill the user experience and most likely drive users away from our platform.

The partnership with polygon will help us scale transactions in a cost-efficient and reliable manner. Even when our platform experiences heavy traffic, we will be able to guarantee a seamless and uninterrupted user experience. With polygon continuously working to improve scaling on Ethereum, rage.fan will continue to provide the best-in-class fantasy sports experience to fans.

Gold rocket | satoshi club:

Care of users! Great motive and great partnership!

Andrés m. | satoshi club:

Talking about the deployment of your product, have it been audited, or is it in the process to do it?

Vivek kumar:

Yes, it’s in the process to be! In fact all the details we have outlined here for all to follow along:

https://www.rage.fan/

My pleasure!

Andrés m. | satoshi club:

It’s time to go with our last question of this part of the ama, something to add? 😁

Vivek kumar:

Not really – I think we got covered well

Andrés m. | satoshi club:

Q6 from telegram user @highpee

You have scheduled an IDO on zero and pools on 31st of march after you completed your private token offering which allowed you to raise $1.6 million some few days ago. Who are the private participants/ventures who joined the fundraising event? How are their token release designed and in what way do you hope to deploy the proceeds from this fundraising? Also, what are the procedures to join the public offering which will take off on zeedo and poolz?

Vivek kumar:

It’s a too big a question!

https://t.me/rage_fan_announcement/62

https://t.me/rage_fan_announcement/75

https://t.me/rage_fan_announcement/46

https://t.me/rage_fan_announcement/50

I think these links will answer all questions!

Gold rocket | satoshi club:

You will not be caught off guard by a long question 😁

Friends! Thank you very much for your answers! And now comes the most exciting part of our ama. Open chat.

@satheeshananth

@imavericks

Sat@rage.fan fantasy sports:

Yeah

Gold rocket | satoshi club:

You need to pick the top 10 questions and answer them.😊

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

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the RAGE.FAN crypto project chooses the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @IsabellaIsla

Why does Rage.Fan only focus on sports or fantasy games? Since there are many attractive game modes like MOBA or some others that attract users. Why has Rage.Fan wanted to focus on these?

Vivek Kumar:

It’s about starting off. It starts with fantasy sports and then in later phases we will move to e-sports and RPG mobile games later

Q – 2 from a telegram user @feranno

Three important problems focused on in the crypto industry: Security, scalability, and data security are considered. Does RAGEFAN provide a complete solution to these problems? 

Vivek Kumar:

No solution is perfect. We all try.

Q – 3 from a telegram user @NataliyaKil

Rage.Fan is launching uNFTs in the form of Action Cards. What is the purpose of these Action Cards, I can only buy them, can I receive them as a reward or as a gift from another user?

Vivek Kumar:

These are digital collectibles and comes with values – Tangible (Monetary, rarity and uniqueness) + Intangible (feeling of owning something which is rare and unique)

You can own them and also trade them over a marketplace.

Q – 4 from a telegram user @stevefix56

In the long term, what future plan can users get from Rage and should the community expect more partnership like with Polygon?

Vivek Kumar:

The answer roots back to scaling. Scaling in all sense – audience, features, games, partnerships etc. telegram user @K2ice

On the security aspect, do you think that the DxSALE platform is prone to cloning?

Vivek Kumar:

Currently, there are a project that is taking ideas ofc but in terms of actual cloning- none as everything is private until the audit is done.

Q – 6 from a telegram user @Korryl

can you explain what must I do if I want to do investment with Rage Fan project? any step by step or guide about this?

Vivek Kumar:

IDO is coming. Follow our media handles.

Q – 7 from a telegram user @Long10X

Staking option is available on Rage platform?

Vivek Kumar:

1.0 is a staking and unstacking platform with fees that are distributed to others along with burning.

Q – 8 from a telegram user @Guandog

As we know, NFTs are here to stay disrupting the entire crypto market, can you break down your opinion and vision about NFTs within the platform?

Vivek Kumar:

Yes, we have a lot of ambitious ideas around NFTs for our platform, haven’t seen anyone do it like the way we will be approaching the space yet.

Q – 9 from a telegram user @blockchainstake

Do you have liquidity mining program that we can earn there and what are the APY’s we can earn?

Vivek Kumar:

in the works with some partners for DxFarming might not be until a couple of quarters. right now there’s a lot we want to do.

Q -10 from a telegram user @dumpspump

You know there are many different blockchains so how many blockchains do you support on your ecosystem?

Vivek Kumar:

We currently support 3 – AIM is to support 8-10 then do a big UI overhaul update.
Supported – ZIL, POLY, ETH, BSC

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the RAGE.FAN project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: RAGE.FAN

Telegram group  | YouTube |  Tweeter  |  Website  |  Medium  

Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Collateral Defi. The AMA took place on March 27th, 2021 and our guest was @COLLDEFI.

The total reward pool was $1000 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 Satoshi Club community! We are very glad to conducting AMA with Collateral Defi! Today our guest is @COLLDEFI

Andrés M. | Satoshi Club: Welcome @COLLDEFI, it’s an honor for us to have you here

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @COLLDEFI 😀!

Collateral Defi: Hi guys

Gold Rocket | Satoshi Club: Let’s start! Introduce youreself please. How did you get to be involved in crypto & Collateral Defi?😊

Collateral Defi: Thanks so much for having me. I am Chris Longden CEO & Founder of Collateral. I first got involved in the Crypto space back in 2017. It probably doesnt seem that long ago – however it feel like a lifetime in Crypto! So I would not consider myself an “OG” however I have seen the rises and falls along the journey.

Gold Rocket | Satoshi Club: quite right. after entering crypto in a bear market, it is nice to go to a bullish😁

Collateral Defi: I was introduced to Crypto by a long standing friend from University. I am for a traditional CEFI finance background, in banking and payment services processing. He mentioned blockchain to me and ethereum in February 2017 – when eth was around $17.00! It quickly jumped up and then I looked in greater depth and detail and started my journey into crypto. Also applogies for any typos – at least you know its live!! 🙂

Gold Rocket | Satoshi Club: You are in the right place at the right time😁👍🚀

Andrés M. | Satoshi Club: Great background, congratulations

Collateral Defi: I think like anyone – it would have been good to been earlier – however all of us are early in the space in terms of mass adoption. I heard a fact the other day….. which made me smile.

Gold Rocket | Satoshi Club: Thanks a lot for the intro! Ready to jump into community questions?😊 Share with us🙏

Andrés M. | Satoshi Club: Please share it with us before the first question😁

Collateral Defi: It was if you are in crypto now its the equivalent of been in the internet space in 1997!! So you all need to take credit for that – you are way ahead of the curve

Serg | Satoshi Club: Nice to have you here 🙂 I know a guy who bought 10,000 ETH at 7$ and sold at 14$ 😁 so, none of us are perfect

Collateral Defi: Exactly – I am sure we can all share some of those stories. I bought in Nexo in the ICO and sold mine at $0.27

Andrés M. | Satoshi Club: Haha don’t forget, HODL

Gold Rocket | Satoshi Club: wonderful experience 😁

Collateral Defi: Anyway great to me here- a huge community it seems and privledged to be here

Serg | Satoshi Club: I bought my first BTC at 600$ and sold at 660 😁 let’s jump to the questions

Collateral Defi: Yep in Crypto everyday is a school day!! Always learning which is why its so interesting and exciting

Q1 from Telegram user @bitcoinistic

Collateral aims to be a payment gateway that lets users collateralize crypto to facilitate payment for goods and services. Does this mean for example: I have Bitcoin worth of 1500$. I want to buy the latest iphone or samsung. I put my BTC on your platform and then I can buy the smartphone? What is the further process? How do I refund the loan?

Collateral Defi: Ok

Gold Rocket | Satoshi Club: An evening of memories❤️You guys were touching my heart 😁

Collateral Defi: Thanks for the question @bitcoinistic. Yes ok – this is a great example to work with. If you have $1500 in your Collateral Wallet and wish to purchase the latest IPhone or Samsung. You will have to use a merchant or payment gateway that works and accepts Collateral. If you are in said store either online or instore. You will purchase the item and go to the checkout as normal. You will then be presented with a QR code. The QR code will present the purchase price of the item. Let’s say in this example, $500 for a phone. The amount of collateral that will need to be wrapped and place in the smart contract will be $1000, as we use over collaterised smart contracts, to protect both the borrower and the purchaser. The user will click accept through the Collateral App and be able to leave the store with their new item. Collateral will arrange for the retailer to be paid in their native currency. In terms of repaying the loan this can be done at any time. The user will enter the APP and repay the total amount plus any interest costs that occur. I hope that answers your question & again thanks for asking

Gold Rocket | Satoshi Club: Sounds good

Collateral Defi: Its quite straightfoward in terms of process.

Andrés M. | Satoshi Club: Thanks for the clear answer, personally I think is a great opportunity

Collateral Defi: Thanks so much. I think thats why we have had so much traction. It got featured yesterday on CNBC- Crypto Banter with Charles Hodgkinson – Cardano -which was unreal.

Gold Rocket | Satoshi Club: it’s incredible!👍

Collateral Defi: We are just setting out so to have people like him, Ran Neuner, etc… talking about Collateral its mind blowing and I am so pround – Hope you guys will come and support us on the journey

Andrés M. | Satoshi Club: Of course we want😁🥳

Serg | Satoshi Club: we will 🙂

Gold Rocket | Satoshi Club: We are with you!🤝 We are also very excited! And we want to ask if you are ready for the next question? 😊

Collateral Defi: Yes fire away 🔥

Q2 from Telegram user @antonerem

The field that you’re trying to enter needs change, but it’s kind of conservative. Can you tell us if you already have the deals with Visa and Mastercard? Without them, you won’t be able to become a big player.

Collateral Defi: I could not agree more this market does need to see change especially from people within the Crypto space. We ultimately want to positon ourselves with the likes of Mastercard & Visa, however this is a complimentary product to these services already in the marketplace. VISA & Mastercard are payment services providers in the traditional sense, you make a payment and the FIAT currency is taken from your account.They are both looking more and more into the crypto space along with the likes of Paypal, which I personally think is great for Crypto and mass adoption. However if you pay with these services you are saying goodbye to your Crypto- this is what Collateral offers as a difference and alternative. I personally think the market is so vast – we are offering a unique and alterntive Crypto focused product – then move to mass adoption. Hopefully that answer your question – thanks again for taking the time to ask 🙂

Gold Rocket | Satoshi Club: Yes you are right. Your idea is good! Ready for the next question?😊

Collateral Defi: Of course

Andrés M. | Satoshi Club: Those are the tools we need to increase the mass adoption

Collateral Defi: Yep exactly

Q3 from Telegram user @antoine_dje

You website is not secured, and the website that you want to use for your new brand is not working at all. Doesn’t this send a wrong message? I mean this are quite simple stuff, why is it not handled?

Collateral Defi: Wow – ok – thought this might get bought up today : ) As per the telegram chat and annoucment channels- we have gone throough a complete new rebrand- I dont know if you guys have had chance to see the new rebrand and lightpaper?

I have put it here so you can read it – if you havent had chance too. We took advice from our advisors and we were told to rebrand ahead of the TGE. To do this in the time constraints ahead of the IDO on Duckstarter the team here have moved heaven and earth. In fact they are all in now working hard – so a big thankyou to my Collateral Team. The new website has been completed and rebranded this will be live prior to the TGE – first one on Duckstarter on 31st.

Andrés M. | Satoshi Club: Could you share links of your channels to join? 😃

Gold Rocket | Satoshi Club: Thanks for sharing! we will be happy to read

Collateral Defi: So its in hand and will be live and of course secure 🙂 COol. I can share them give me one min

https://t.me/collateraldefi

Andrés M. | Satoshi Club: Congratulations for that amazing job 😁👏

Collateral Defi: Here is the annoucment channel – this is where any news is relesed first we also have a chat room so it would be great to see the Satoshi club team over thereI will share twitter now

Tweets by CollateralDefi

Andrés M. | Satoshi Club: Thanks, let’s proceed with the next question if you want😃

Gold Rocket | Satoshi Club: Join Satoshi Clubbers🚀🚀🚀

Andrés M. | Satoshi Club: Let’s join community🥳

Collateral Defi: We initially went with Collateral DeFi – however further to advice etc… we are rebranding as Collateral Pay- which was seen as more customer/ user friendly from the focus groups we orgnaised. organised

Q4 from Telegram user @jefer_bn

How will you make the onboarding process for merchants? Currently payment processors as PayPal don’t treat the merchants fair, and can block their money and close their accounts without even announcing. What do you have to say about that?

Gold Rocket | Satoshi Club: Thanks for the clarification😊

Collateral Defi: Thanks @jefer_bn. No worries. I would have asked the same question BTW!

Ok question 4-

We have a two pronged attack / strategy – for onboarding merchants

 . We want to make Collateral accessible and fair to all users of the protocol of course. We will link in with existing payment services providers this will make an impact on the larger scale merchants. However we have also thought about the smaller scale merchants and one man bands wanting to take Collateral / Crypto payments. This will be done via an APP to smaller merchants. They will be able to set up a Merchant account and offer Collateral as a service to their users, by creating an account and subject to passing KYC. They can then link their current account and have access to a new breed of customer. In terms of fairness. I cant not really comment on this as it’s a case by case basis – I am not sure why that will have happened with Paypal so not in a position to answer that about blocking payment. Hope that answers your question

Andrés M. | Satoshi Club: Will it work as a P2P market?

Collateral Defi: I am trying to be as detailed as possible for you guys but appreciate you have to wait for me to answer 🙂 Yes – it will a decentralised P2P marketplace

Andrés M. | Satoshi Club: The answer was so clear, thank you👏😁

Gold Rocket | Satoshi Club: Thanks for your answers! Speaking of safety. In your light paper, I saw the planned audit. Have you already decided who will do it?

Collateral Defi: Yes we take security extremely seriously at Collateral

Gold Rocket | Satoshi Club: this is very important and commendable👏

Collateral Defi: With this in mind we have taken a slightly different approach to auditing – we have had two seperate independent firms carry out the audit. The final one is been done by who we have been told is the best in the business…… this has been through experienced investors who have been round the block some time. The company recommended to us by the likes of AU21, A195 Capital is called Zokyo. They are carrying out the finall audit – so with three independent checks we feel we have gone above and beyond – which of course is the right thing to do. Crypto can be a crazy place so got to be as safe as possible! Thanks for that

Gold Rocket | Satoshi Club: Thank you for your answer and for your responsible position on this issue.👍

Collateral Defi: Cool

Gold Rocket | Satoshi Club: Ready to proceed to the next question?☺️

Collateral Defi: Please

Q5 from Telegram user @mike_not_mike

On a first glance, I can do the same on Venus or other platforms. But when I read the Lightpaper, I see that it is something different and much more interesting. What bothers me is: If I buy in UK, Germany, Russia, how will you convert it to local currencies from US dollar and with what costs? If it’s noticeable, like 3-5%, I think it’s big.

Collateral Defi: @GoldRocket27 – thanks for hosting

Gold Rocket | Satoshi Club: With my pleasure❤️

Collateral Defi: To be honest there are lots of platforms out in the space, from Venus to Compound. Let me just check something give me 30 seconds. I see that Venus Marketcap is $395,000,000! So nice to be even mentioned in the same sentence! @mike_not_mike!! From launch out market cap is only $1,200,000 so plenty of room to grow. Apologies back to the question. Yes I see your point. We look after all the local currency conversions through the protocol and in terms of the cost with us going down the Polkadot network the fees will be minimal. Like with all operations this will reduce with scale. Also it should be noted with us operating the business via smart contracts and using blockchain tech, we have not got the large overheads that these large corporates have. That’s the whole principle of what we are trying to achieve – a streamlined payment gateway which is accessible and beneficial to all stakeholders- Hope that makes sense

Gold Rocket | Satoshi Club: You have a win-win position😉

Collateral Defi: We think so. Sorry was last thing on that point. Question. Unlike banks in the traditional CEFI spce we dont operate large bonus structures!

Gold Rocket | Satoshi Club: thanks for answers! now will be the most beautiful part of our AMA. live questions. you need to pick the top 5 questions and answer them. Are you ready?🚀🚀🚀

Collateral Defi: A proportion of the profits (after business overheads) are redistributed back to Collateral token Hodlers. Its a reward system similar to a tradition dividend.

Gold Rocket | Satoshi Club: it’s very tempting👍

Collateral Defi: Let me just have a quick sip of coffee and stretch my fingers

Part 2 — live questions from the Telegram community

Q1 from Telegram User @Dahyor4

Can we know more about your roadmap?

Collateral Defi: Hi @Dahyor4 the roadmap is in the lightpaper I have posted it in the chat above this will give you a good insight to the journey ahead for Collateral. We will of course update through the social channels of any new appointments etc… thanks for asking

Q2 from Telegram User @Andrey_Seleznov

Could you please clarify what is the incentive to use collateral over the traditional payment where fiat or crypto is deducted on purchase and brush up on the repayment fees? Thank you! And I am so stoked for the project!

Collateral Defi: The benefit of using Collateral is you never sell your crypto, so no capital gains tax and you can have all the future increases in the crypto. Imagine selling 1 BTC in June for $10k to buy a car, 1 BTC is now worth $55k, so effectively the car would of cost you $55k. If you sell you never see the upside in crypto gains.

Q3 from Telegram User @topind7

In what way do you stand out among your competitors and what is interesting and unique about Venus?

Collateral Defi: Thanks we spoke about Venus in the question earlier- so probably good to answer this. The MAIN difference is the Collateral Pay product in the portfolio. Venus will allow you to leverage your crypto which is great – however how are you spending it? Collateral acts as a payment for the user at the Point of Sale (POS). WIth Venus for you to spend – you still have to send to your bank through the network which takes time ans costs fees.

Q4 from Telegram User @smelekin

There was a person who bought a pizza with 10.000 btc. If Collateral was live at that time, could that person still own his bitcoins?

Collateral Defi: If Lazlo the infamous BTC pizza man, has used Collateral to buy his Pizza he would still own all his BTC and have $550,000,000, instead he got 2 pizzas 😔

Q5 from Telegram User @K2ice

You claimed you don’t t operate large bonus structures. So what kind of bonus structures do you operate?

Collateral Defi: Hi Hakeem – we have two tokens within Collateral. COLL which is the native token and COLLG which is the Governance token. The bonus structures and how funds are distributed will be decided by the governance token holders- in a truly decentralised ecosystem. It will be put to votes

Part 3 – Quiz Results

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

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

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

Our partners:

Telegram Group: https://t.me/CollateralChat

We are pleased to announce our next AMA on April 3rd 2021 at 01:00 PM UTC Time: Satoshi Club x Unicly

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

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

Part 3: 300$ – A quiz about Unicly

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

We are pleased to announce our next AMA on March 30th 2021 at 05:00 PM UTC Time: Satoshi Club x Diamond Hands Finance

⚠️Click to see the hour
⚠️Total Reward pool: $2000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Diamond Hands Finance Telegram group

We will have the following structure:

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

Part 2: 150$/15 users – Open chat for 120 seconds. You can post Max 3 questions. Diamond Hands Finance Team will select 15 questions and answer them.

Part 3: 1700$ – A quiz about Diamond Hands Finance

For more details:
Diamond Hands Finance – @DMDHANDS_MissionControl
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from MultiPlay and our guest was @Mtpanddev lead developer of MultiPlay. The AMA took place on 27 March.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

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

Part 1 — introduction and questions from the Telegram community

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

D. | Satoshi Club: our today’s guest – @Mtpanddev ! welcome to Satoshi Club! 👋

Multiplay Team: Thank you for having me

Warm Greetings to everyone in the chat room

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

Mary | Satoshi Club: Hello once again! Happy to see you here!

Let’s start our AMA 🚀

Multiplay Team: Ready

Mary | Satoshi Club: @Mtpanddev usually we start with intro😀 so, please introduce yourself and tell us more about MultiPlay🚀

D. | Satoshi Club: and maybe you can even share with us some news about MultiPlay? 😉

Multiplay Team: Okay..

I am Johnson lead developer multiplay.

Multiplay team is a dynamic and experienced team of 5 ambitious  team members aiming to take multiplay to the ends of the Earth and secure the adoption of every crypto user.

Multiplay is a block chain gaming platform driven by creativity and technology to unlock the true potentials of online gamers.

D. | Satoshi Club: so it’s platform for gamers?

Multiplay Team: Not much in the news about multiplay for now.

Products are currently working and on the website.

www.multiplays.net.

Ready for gamers to go check them out

Mary | Satoshi Club: Could you tell us when did you start MultiPlay platform development?😀

Multiplay Team: Yes.

But there are some folks who may not like gaming.

We still got them covered.

We also got the investors cycle.

Multiplay idea was born in the basement.

Development officially begun the last quarter of 2020

D. | Satoshi Club: as i see i have to download games to try them..is it safe?

Multiplay Team: Sure.

For both PC, Android and iOS users.

A lot of folks has been playing and challenging their colleagues

Mary | Satoshi Club: You work fast!

Multiplay Team: Worthy of note is the fact that multiplay is a game changer in the blockchain gaming industry.

We brought in the Multiplayer game set up.

Mary | Satoshi Club: We like gamechangers😍

Multiplay Team: A whole lot of folks get bored playing blockchain games with the Ai

Well it’s all over.

You can now challenge your friends, take a bet and still earn tokens while playing

❤️

Mary | Satoshi Club: All you told us are really exciting 👍 thank you for your great introduction 👏

Multiplay Team: Thank you for the juicy questions

D. | Satoshi Club: yes, thank you for the intro! let’s dive into the questions from our community?

Multiplay Team: Okay.

D. | Satoshi Club: let’s begin!

Q1 from Telegram user @JuanSB07

I understand that Multiplay is a platform where you can play for profit through its native MTP token. But for new users to start playing, they would simply need to buy a certain amount of MTP tokens and pay for the contest with these tokens ? By participating and winning one of these games the winning user will get the amount of tokens that the other player used to enter the contest? Or does the winner simply get a “bonus” (prize)?

Multiplay Team: Lovely question.

Yes we got a native MTP token essential for users to acquire.

You will need to sign up, connect your wallet, acquire tokens and after which you can access games.

The tokens are primarily for multiplayer challenges.

Multiplay Team: When you want to take on a friend, colleagues or family member in a duel you will need the tokens.

Mary | Satoshi Club: I will be able to buy tokens directly from your app?

Multiplay Team: Token holders will have regular tournaments been organized for them with great rewards to cart away for winners.

For now no.

That’s part of the upgrades we are looking forward to.

Tokens can be acquired when presale begins on the 29th and after wards on pancakeswap

Mary | Satoshi Club: Gotcha 👍

Multiplay Team: Non token holders are also not excluded from the multiplay family as we will also organize occasional tournaments for them

Mary | Satoshi Club: Everything is well thought out!👍

Multiplay Team: For those who wants to challenge a friend sure there will be an entry fee.

And bets will also be handled on the blockchain platform to ensure cheats aren’t a part.

D. | Satoshi Club: where will presale take place? on your site?

Multiplay Team: The winner of the bets earns the pool less a 10% burn

Presale will hold on predictz.io our partners.

Predictz NFT holders and top 100holders are eligible to private sale

D. | Satoshi Club: i see they have a good partners 👍

Multiplay Team: 😊😁

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

Multiplay Team: Yes.

Q2 from Telegram user @jonathanjgt

What are the reasons why MTP has decided to focus on sports and games such as Ludo, cheese, scrabble and others? Did they do it just because there is a large user base of board game fans? Or are there other features they based on such as simple entertainment or passion for these games?

Multiplay Team: Okay.

We chose to focus on these areas for a start because of the entertainment it offers

We will be covering a whole lot of areas as we progress.

In development currently is our shooting games that will aid the utilization and Acquisition of NFTs and other in-game assets

D. | Satoshi Club: so NFTs will take a huge place  on your platfrom?

Mary | Satoshi Club: How many players do you expect in the nearest future? I mean do you have any goals about players amount?

Multiplay Team: Yes.

NFTs is part of the mainstays of multiplay.

Only a 100 NFTs will ever be created

Multiplay Team: For a start we are looking at 50,000 players.

And we are targeting as much as 98% of gamers worldwide.

D. | Satoshi Club: will those NFTs have any other functions expect the collectibles?

Mary | Satoshi Club: Nice targets 🚀

Multiplay Team: Yes they will

NFTs as we know are non fungible tokens.

We aim to run a decentralized system where NFT holders , MTP stakers and top MTP holders will have voting rights in the governance of the multiplay community.

Of course they will have a share in the profits.

D. | Satoshi Club: very cool 👍 thank you for answers!

Multiplay Team: The total revenue from the multiplay gaming platform is shared in this format.

50% for NFT holders

40% for stakers

10% burnt

Thank you.

Mary | Satoshi Club:NFT holders will get a lot👍

Thank you for your answers! Ready to jump to the next question?

Multiplay Team: Yes.

And it’s just limited to 100 smart investors.

Sure.

Let’s have it.

Q3 from Telegram user @cryptofollower

Blockchain is preventing the data tampering, which is great for multi-player games but sometimes it can be slow. As speed is really important feature that a game must have, how did you solve the speed problem on Multiplay?

Multiplay Team: Alright.

Yes we know that sometimes the blockchain platform becomes quite slow.

And hence to boost speed high fees are required.

D. | Satoshi Club: that’s right

Multiplay Team: That is why we opted to launch on BSC instead of Etherum

To save users the pain of high gas fees.

Now this decision does not totally exclude the Etherum blockchain gamers as we have a goal to incorporate 98% of the gaming community

D. | Satoshi Club: are there similar gaming projects on BSC? or you will be one of the first there, with your ideas?

Multiplay Team: We still have some partnerships with gas tokens to ease these when we go live on Etherum blockchain

Mary | Satoshi Club: What about another blockchains? As i know game apps are very popular on Tron blockchain.

Multiplay Team: I think we are the first with The idea on multiplayer

Multiplay Team: We are starting out on BSC, ETH will be next and afterwards we can look at others

D. | Satoshi Club: partnership with Ethanol? 😉

Multiplay Team: Not really.

We may consider them through.

Currently we have partnership with FTEX.

D. | Satoshi Club: gotcha

thank you for answers! we you are ready we can proceed to the next question?

Multiplay Team: Yes I am

Q4 from Telegram user @surendra040

Multiplay old Telegram was hacked . Was it an insider job or how could a hacking of telegram would benefit hacker? But unfortunately, big questions can be raised on Multiplay team professionalism and security measures . What security measures will be applied for the future to make Multiplay secured?

Multiplay Team: It wasnt an inside job friends the unity of the team is superb

Was a sad one for the team as our partner devs TG account was compromised.

TG security got it’s questions though but that not withstanding, the team has decided not to rely on only our TG community hence she will be incorporating other chat rooms in future plans.

It’s worthy of note that despite the hack on our TG, we still have a 100% secure platform so gamers and investors need not be bothered.

We also have an active Twitter handle and will the incorporating a medium handle soon.

D. | Satoshi Club: got it! yeah, Medium would be a good thing, with all information about platform 👌

Mary | Satoshi Club: Hope it will not repeat with any of us! Scammers don’t sleep

Multiplay Team: Multiplay is built on webGl. A program with very good security structures and we are launching on BSC, we all know how secure it is.

Mary | Satoshi Club: Did you make any audits?

Multiplay Team: Not at all.

It was a wake up call to the team.

Hence such situations will never repeat it self.

We keep wondering why us when we haven’t even launched officially…

Someone has seen the potentials of multiplay already….

Mary | Satoshi Club: Yes, even sad situations have bright sides😀

Multiplay Team: Yes.

The token contract audit is the first and is currently in progress by Techrate.org

Results will be out next week.

After which the Game audit will commence to ensure all mediums for cheaters are debugged

Mary | Satoshi Club: That’s awesome! We will wait for the results!

Thank you for your answers! Ready for the next question?

Multiplay Team: Sure.

Alright

Q5 from Telegram user @belkysgonzalez

Some gaming platforms have a weekly or monthly competition to reward players based on their performance. Will you have something like this? Like giving special rewards for the most outstanding players of the week or the ones who achieve more milestones in that time?

Multiplay Team: Yes. We have such intentions.

We will be organizing tournaments to harness the skills of gamers on the multiplay network.

Currently we are integrating blockchain into all our products.

The goal for now is to ensure all products are working optimally

D. | Satoshi Club: what will be the rewards for users of your platform? will it be NFT or tokens?

Multiplay Team: We have in development the Multiplay Modern warfare

A game capturing civil wars scenes with an in-game assets market with a projected worth of over 500,000 USD.

D. | Satoshi Club: wow, this is cool

Multiplay Team: Users will be rewarded in MTP as well as other tradable in-game assets.

Mary | Satoshi Club: So, we can expect surprises😉

Multiplay Team: Yes we should

There should always be an element of surprise in every gaming platform

Mary | Satoshi Club: Fantastic 🔥 Thank you for your answers! And just one 6th question left for this part🚀 ready for it?

Multiplay Team:Sure I am

Q6 from Telegram user @GuisellaLily

With the MTP coin, is staking possible, if so, how long would the cryptocurrency remain locked and what interest rate would be applied to earn profits?

Multiplay Team: Yes on launch the staking platform goes live…

Staking of MTP token attracts 100% APY.

Minimum staking period will be 2years

D. | Satoshi Club: btw as you mentioned earlier 10% of tokens will be burned? if im not mistaken? could you tell us about your burning function as well?

Mary | Satoshi Club: Minimum 2 years? And this tokens will be locked for two years?

Multiplay Team: Yes looks like a long time, but not really a long time considering the fact that in the next two years multiplay should be the most widely adopted gaming platform.

That will culminate in huge rewards for stakers.

Other incentives are also in place

Mary | Satoshi Club: Will be min/max amount to stake?

Multiplay Team: Yes. Token burn is essentially to decrease the circulating token and aid to stabilize token price.

For now that hasn’t been released. We will do so before presale.

Mary | Satoshi Club: Got it! We will stay tuned 🙂

Multiplay Team: Sure.

Mary | Satoshi Club: So, we came close to the live part🚀

D. | Satoshi Club: @Mtpanddev 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!

Mary | Satoshi Club: @Mtpanddev ready to open the gates?😀

Multiplay Team:Okay

Mary | Satoshi Club:Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Arisabela

Multiplay, as its name says, seeks to be a platform for multiple opponents and friends in a simplified way using the advantages of blockchain, in that case, how can our friends connect to the platform? Is there a link for social networks or email to invite our contacts to the game room?

Multiplay Team: Once you get connected with your wallet on the game, you can invite your friends by sharing your username which you used in creating the room.

Q2 from Telegram user @Raisbelys

Talking about burning your native MTP token they say it will burn the deflationary 20% of the MTP used as transaction fees. But what will be the total transaction and withdrawal fee that users have to cover? Would it really be profitable to constantly use the MTP token to play?

Multiplay Team: Withdrawal Transaction attracts a 10% fee.

Yes it will. As we progress we will integrate other tokens if need be

Q3  from Telegram user @jobel4

Do you offer free game or trial game in any any game in your app so that people will be able to practice and try the Multiplay game for free without spending money? If not yet, do you plan to add this feature in the future? Thank you

@Mtpanddev

Multiplay Team: Yes for now you can try our games without having to pay fees

Subsequently learner’s can try the games individually for free before going to Multiplayer mode which will attract fees

The Modern warfare will have a tutorial mode though

Q4 from Telegram user @Izamg

I’m interested to know more about your NFTs. Can you explain further about the utilities of these NFTs within your platform? Are they meant to be held as simple collectibles or will they have additional benefits? Also, will you have your own marketplace to sell and buy the MultiPlay NFTs? @Mtpanddev

Multiplay Team: Yes they will have additional benefits like I made mention of in the 1st session,

The marketplace for the NFT will be unvieled soon.

Q5 from Telegram user @Rosemary Bianco

 In Multiplay “Staking” they say that the participation contract allows users who are in MTP to receive 100% APY. My question is, is this participation reward for all MTP holders or is there a place within Multiplay where MTPs will be allowed to be blocked, could you please explain? And to do this respective “staking” where can I exchange the MTP token?

Multiplay Team: Once MTPs are staked it automatically moves to the staking pool. Hence no longer in your wallet.

Pancakeswap will be a good exchange for your MTP more exchanges will be adopted as we progress

Q6 from Telegram user @mctrho

Players can rank up and get more prestige and level according to the number of wins and milestones met?  Also, does MultiPlay have a matching mechanism according to the level and rank of the players? @Mtpanddev

Multiplay Team: Yes there will be a ranking portal

Where gamers can check their rankings according to skill level. Of course rewards will be involved

Q7 from Telegram user @mctrho

If I am not mistaken, the smart contracts adopted to MultiPlay are the ones that distribute the prizes to the winners and the transaction fees to the network operators, how prone to errors or failures are the MultiPlay smart contracts?  Are they safe and reliable? @Mtpanddev

Multiplay Team: Yes they are.

It is currently been audited and next week results will be out.

Q8 from Telegram user @belkysgonzalez

It is important for users to know that all games and competitions are fair, so how do you ensure that? Are all aspects of the games, such as results and winners, completely transparent for anyone to corroborate?

Multiplay Team: The audit of games will commence right after the token contract audit.

Developers as well as users will not be able to manipulate as all games has been debugged and free from cheats

The results will speak for us.

Q9 from Telegram user @Abparveez

Where can I find the tokenomics and presale price of MTP?

Multiplay Team: In our white paper you can find the tokenomics.

Presale price details are pinned on our TG @multiplaygame

Q10 from Telegram user @highpee

Why do we have to LOCK our asset and stake for 2 years? Do you think users will be able to have this kind of PATIENCE? Is it after these two years that stakers will start to receive their 40% fee reward or this will be distributed while the asset is still being locked in your smart contract?

Multiplay Team: Currently the team is looking at reducing the staking period before presale and launch of the staking platform.

Please more details on the staking platform will be released as we progress.

Follow our Twitter handle @mtptokens and TG for more information

Part 3 – Quiz Results

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

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

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

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

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

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

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

Website: https://esatoshi.club/

Our partners:

Website: https://multiplays.net

 Twitter: https://twitter.com/mtptoken

Telegram: https://t.me/multiplaygame

We are pleased to announce our next AMA on April 2nd 2021 at 02:00 PM UTC Time: Satoshi Club x GAMEE

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

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

Part 3: 300$ – A quiz about GAMEE

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

We are pleased to announce our next AMA on March 31st 2021 at 11:30 AM UTC Time: Satoshi Club x PhoenixDAO

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

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

Part 3: 300$ – A quiz about PhoenixDAO

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

Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Colony. The AMA took place on March 25th, 2021 and our guest was @jackdurose.

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

D. Папа Роуч: good day Satoshi Club! 👋 we are starting AMA with Colony!

Маry Satoshi CLUB: Hello Satoshi Club! We are happy to announce our AMA session with Colony!    Welcome to Satoshi Club😀 @jackdurose welcome here 😀

D. Папа Роуч: @jackdurose hello! good to have you here!

Jack du Rose: It’s a pleasure to be here @madamlobster 😄

Маry Satoshi CLUB: Happy to see you here! How’s going?

Jack du Rose: All good excited to answer some questions! 😄

D. Папа Роуч: awesome! so let’s begin with intro then 😉

Маry Satoshi CLUB: And we have them! But first introduce yourself and tell us more about Colony😀

Jack du Rose: I’m Jack, the founder of Colony. I started the project actually even before Ethereum, and we presented our first demo of our first prototype at Ethereum Devcon 1. I think that was 2015. And before The DAO! So we’ve been working on the difficult challenge that is effective decentralised governance for a long time. And we think we’re the biggest and best out there. So that’s what Colony is all about. The ultimate DAO framework.

Маry Satoshi CLUB: Wow, so long time to develop! It should be perfect 😉

Jack du Rose: Indeed, we don’t expect it to be perfect, but we do expect it to be the best there is.

D. Папа Роуч: so all this time you have been working on Colony, since 2015?

Jack du Rose: That’s right. Colony is probably the largest solidity codebase of any dapp. It’s an absolute monster. And it’s also completely decentralised. We don’t think it’s acceptable for any organisation that would base their operations on our software, to be at risk of our ceasing to exist and the server they need to use dissapearing. So we’ve built Colony to be 100% decentralised. That means users can have confidence that Colony will always be there for them.

Маry Satoshi CLUB: With Colony this will never happen?

Jack du Rose: Exactly. So let me give you a bit more detail on what makes Colony so good.

D. Папа Роуч: yes, please!

Jack du Rose: If you’ve ever participated in a DAO, you probably think DAOs=Voting

D. Папа Роуч: yep

Маry Satoshi CLUB: Yes

Jack du Rose: And we think that’s precisely incorrect. Tell me, in any “real” organisation you’ve ever worked in, how much voting was there? Very little or none.

Маry Satoshi CLUB: No one

Jack du Rose: Instead people demonstrate their competence, and they earn authority to take actions up to the limit of the authority they’ve been given. if they absue that authority, then it gets removed. The whole point of organizations, and more specificaly companies, which is what most DAOs really are, is to reduce the transactions costs of the market mechanism for supply

D. Папа Роуч: agreed

Jack du Rose: if you’re always having to find suppliers, spec our what you want, negotiate contracts, manage deliver and compensation. it only works  up to a certain point. at that point it becomes more expensive to coordinate supply via the market than just to have employees who are available all the time, and have agreed rates, and a detailed understanding of whats required. We call that “a company” Yet DAOs as we know them now dont do this. IIn principle, they HAVE to coordinate supply via the market

Маry Satoshi CLUB: It’s very complex, but definitely has sense

Jack du Rose: and yet they actually increase the transaction/coordination costs because they require everything to be voted on all the time. Colony doesn’t do that

Маry Satoshi CLUB: So, what Colony does?

Jack du Rose: instead, people can make proposals and as long as nobody objects, after a security delay, it will pass. If someone really does disagree, they can “Object” by staking against the proposal and only then will a vote take place an critically, both the ability to create and object to proposals, and to vote is weighted by Reputation in the organisation, not (usualy) based on tokens. so that means the people who have demonstrated they actually understand the thing being decided on have the ability to make things happen and because of that, decisions can happen efficiently, with a minimum of unneccesary voting. There’s a lot more to Colony than that though, but perhaps there are other directions you’d like to explore

Маry Satoshi CLUB: Very interesting 👍 Sure, i see that you have a lot of directions! And we have a some questions about this😀 From our community

Jack du Rose: hit me

Маry Satoshi CLUB: Let’s start part 1🚀 and thank you for your intro 👍

D. Папа Роуч: thank you for the great intro! let’s open the first part!

Q1 from Telegram user @h1drX

All of us who work with cryptocurrencies are aware of the high fees that Ethereum is demanding on its blockchain, causing people to stop using ETH. Why did you decide to create Colony on the Ethereum blockchain? In what aspects of the project does the high rates affect? Are you planning to adopt another blockchain soon?

Jack du Rose: We aren’t on Ethereum, we’re on xDai. Using Colony is not feasible on Mainnet. However, the EVM is the place to be for now. So we’re working to enable L2 governance (e.g. sidechains and rollups) with L1 execution.

Маry Satoshi CLUB: When do you plan Mainnet?

Jack du Rose: So if you’re a DeFi protocol on L1, you can do your governance on fast, cheap L2, and still see smart contract execution manifest on L1. We don’t plan to release on Ethereum mainnet until Ethereum scales. It’s not necessary for us to deploy there. In terms of other L1 chains, in my opinion there are really only a handful that are likely to be meaningful in the future. We get approached by a lot of them asking us to build on their platforms. but the most important thing to us is the ecosystem that exists on a chain and none of them are able to demonstrate anything meaningful there (other than Polkadot, Dfinity, Cosmos)

Маry Satoshi CLUB: Wait, do you mean L1 and L2 on ETH or xDai also has L1 and L2?

Jack du Rose: No, xDai is an L2 sidechain of Ethereum. Runs on a Delegated Proof of Stake chain

Маry Satoshi CLUB: Got it!

Jack du Rose: gas is always 1gwei and denominated in Dai. so transactions are suuuuuper cheap. for example to deploy a colony on Ethereum mainnet flucations in cost between areound $1500-$2500

D. Папа Роуч: wow, thank you for clarification! something new to me, i have never used xDai

Jack du Rose: to deploy on xDai always costs $0.0055. Half a cent!

Маry Satoshi CLUB: Really? I forget about such prices 😂

Jack du Rose: So on xDai $0.01 in gas money goes a really long way. About 30-50 tx depending on how big they are

Маry Satoshi CLUB: I payed 20$ for approval today😂 And it was L2 solution😂

D. Папа Роуч: yeah, tell me 😄😉

Jack du Rose: Wow, that’s a lot. What’s up next 😄

D. Папа Роуч: it was dydx alpha version. so ready for the next question? 😉.

Jack du Rose: hell yeah. hit me

Q2 from Telegram user @RosemaryBianco

Colony released their new version recently (Colony v2), but they mentioned that it will be a “soft release”, which shows that it is an early beta version, so there will be bugs and a variety of UX quirks. So, as of today, you have already managed to solve several issues within this version ? was this release a success ? Do you plan to release a new version without existing bugs and quirks?

Jack du Rose: Ha! Well there will I think be bugs and quirks for a while as we’re aggressively shipping features rather than focussing on maintenance. we tend to prioritise moving forwards over tidying up and mainly fix the important bugs

Маry Satoshi CLUB: Very good strategy

Jack du Rose: thankfully there haven’t been too many of those, and what there were we fixed easily. But we’re now constaly shipping. We release a new deployment roughly weekly. Sometimes it’s new features, sometimes it’s squishing bugs. We just don’t announce it every time becuase frankly its boring. 😄

Маry Satoshi CLUB: Do you have any roadmap? When do you plan to leave word ‘soft’ behind?

Jack du Rose: Sure do, and it’s 🔥 https://blog.colony.io/roadmap

Маry Satoshi CLUB: So many events this year! You choose right time!

Jack du Rose: I think we’ll consider it a hard(?!) release, when we roll pur our governance functionality in Q2.

D. Папа Роуч: thanks! that’s the most informative roadmap i’ve ever seen 😁

Маry Satoshi CLUB: It’s near🔥

D. Папа Роуч: nice!

Jack du Rose: Yeah, we’re now in a place where we’ve really done most of the difficult stuff that’s invisible to end users but necessary to make the magic happen. Now we’re mainly focussed on shipping UI to end users, and we’re doing that in such a way that the longer we’re building the faster it will be for us to ship stuff.

D. Папа Роуч: awesome! thank you for the answers! ready for the next question from the community?

Jack du Rose: Bring.It.On

Q3 from Telegram user @mctrho 

If I’m not mistaken, Colony has “update capability”, which will allow people to use Colony without preventing themselves from using new features as they are added to the network. This implementation works based on the “EtherRouter contract” and the “Resolver contract”. Can you explain to us how these contracts can work together?

Jack du Rose: Okay a deep technical question. Let me pass this to my colleague and I’ll give you his response shortly. Next question please!

D. Папа Роуч: got it!

Маry Satoshi CLUB: Ok, we can go to the next and then, when you will get response will go back to this

Q4 from Telegram User @yellowchamp

Can you explain more about the Metacolony? How can anyone become part of Metacolony? How does Metacolony connected with Colony? How does Metacolony become essential and important to Colony ecosystem? What positive and negative impact that Metacolony will bring to Colony network? Thank you

Jack du Rose: The Metacolony is the colony that manages the colony network. Eventually, we as a company will cease to exist, and all governance rights will be ceded to the Metacolony. We have outlined this process in detail in our technical whitepaper at https://colony.io/whitepaper.pdf

Маry Satoshi CLUB: So, Colony won’t exist in the future?

Jack du Rose: Anyone will be able to join by doing something useful for the metacolony, like writing some code, or helping with promotion. Colony will exist, but Colony is the platform, no the company. And it will be governed by the Metacolony.

Маry Satoshi CLUB: Gotcha 👍 Thank you, Jack! Everything is clear for me

Jack du Rose: If you do something useful for the Metacolony, then you’ll earn its native token, CLNY, and with it you’ll earn an equal amount of reputation in the Metacolony, giving you the ability to influence the activity of the Metacolony in the teams in which you’ve contributed value. Owning both CLNY and Reputation in the Metacolony will entitle you to claim a share of Colony Network revenues

Маry Satoshi CLUB: If i will buy CLNY i won’t get any reputation, right?

Jack du Rose: Correct, but you can use that CLNY to stake in a Reputation Miner, to compute reputation updates for th whole Colony Network. When you participate in this Reputation validation process, you earn more CLNY and Reputation. And the more CLNY you have, the greater the probability you’ll be able to validate Reputation. I have an answer to the EtherRouter question:

> The EtherRouter contract is the code that is deployed at the Colony’s address. It is a very simple contract that, for any transaction sent to it, it queries the Resolver contract to find the location (contract address) of the function that transaction is trying to call. It then executes the code it finds at that address the Resolver provides. To update a colony’s version, the resolver used is changed from one that knows where to find (for example) the v4 implementation of the functionality, to one that knows where to find the v5 implementation. In this way, the colony’s address stays the same (because the EtherRouter code does not need to change) but the functionality can be upgraded and added to.

D. Папа Роуч: thank you! i think all techies in Satoshi Club are happy about this answer 👍

Маry Satoshi CLUB: Reputation which i will get from staking can be compared with reputation from staking? I mean that if a whales which want to influence decision making just will buy a big amount of CLNY and stake it will they be equal to those who really did something for the project?

Jack du Rose: Reputation is earned in specific teams, so this reputation would be earned in the “Reputation Mining” team. The proportion of the total CLNY which goes to mining is also constrained and subject to the governance of the Metacolony which may choose to increase or decrease that amount subject to the prevaling sentiment about how such rewards should be compensated. So when you earn reputation, you earn it in the specific team, and any parents of that team. Let me grab you a little diagram

Маry Satoshi CLUB: Sure!

Jack du Rose:

So, if you do some frontend work, you earn reputation in frontend, and also in Dev, and in Root. i.e. it sums up the org structure.

Маry Satoshi CLUB: I understand! Complex system, as i told before 😀

Jack du Rose: but earning frontend reputation, would not mean you have any authority in Backend decisions. Organisations are quite literally complex systems. that’s the academic field which seeks to explain how organisations, and other forms of complex adaptive systems, work. And for clarity, that’s just an example org structure. It could be any set of teams, they are not predetermined. And the higher up the org you go, the more people and reputation there will be

Маry Satoshi CLUB: Thank you, Jack! Really great answers!

Jack du Rose: so it’s not a hierarchical organisation in the traditional sense in which the higher up the hierarchy you go, the more power is concentrated in fewer people. instead the higher up the org you go, the more diffuse the power is among more people

Маry Satoshi CLUB: And it’s good! Btw, how do you call this structure? Democracy?😀

Jack du Rose: Meritocracy. I think democracy is good for nations, not good for organisations. The input of some people is strictly more useful on specific topics than the input of others. This is why we don’t have accountants doing brain surgery and Colony tries to reflect that reality via an entirely decentralised, pseudonymous, and bottom up mechanism

Маry Satoshi CLUB: I see that more and more people are  supporters of such views😀

Jack du Rose: And I think we see it in other DAOs too, that participation is very low in voting because most people don’t have something useful to contribute about many detailed decisions. so they’d rather allow other people who do have an informed opinion, take the decision

Маry Satoshi CLUB: Fantastic! I really hope this will work!

Q5 from Telegram user @Derazy

What is Colony strategy that involving community? Does Colony teams create DAO’s infrastructure themselves? How does it go so far?

Jack du Rose: Hmm okay I think I understand the question. So in terms of teams creating DAOs on Colony, for this soft launch we’re onboarding people one by one. We call this the “white glove” onboarding. We’ve got hundreds of orgs queuing up to use colony, but we want to bring them aboard slowly, understand what they want to do, and try to support them in a very hands on way. We really want to help users succeed using Colony. So far, that’s going great.

Маry Satoshi CLUB: So even though you said earlier that you focus on features, do you pay much attention to support?

Jack du Rose: Yes we’re there for our users via Discord, but so far we haven’t had much need to provide support to users. It seems to just work and they understand how to use it. People seem to find the UX very intuitive and love the speed and reliability of xDai. Next?

D. Папа Роуч: thank you! the last question from this part!

Q6 from Telegram user @KeymerS

It is necessary for the company to make an evaluation involving planning, production, marketing and I decide to use COLONY as an organizer, what steps should I follow for your contract?

Jack du Rose: I don’t really understand the question I’m afraid.

D. Папа Роуч: well, maybe this guy meant that he  wants to work with you? what steps he should do for this? 😄

Jack du Rose: For now we do most of the work ourselves, but that will change as we cede control gradually to the Metacolony. When governance goes live we’ll start on this process and then it will become easier for external people to contribute. In the shorter term, we’re also soon rolling out a bounty program which will allow contributors to contribute to a bounty colony, and earn a share of a CLNY distribution when the token is released. I think we’ll formally announce the details of that in the next couple of weeks

D. Папа Роуч: bounty program is always nice 👍

Jack du Rose: it’s a pretty cool program though because it has a mechanism whereby the more successful it is, the more CLNY will go to the bounty hunters. We’ll announce this at https://blog.colony.io and on twitter https://twitter.com/joincolony

Маry Satoshi CLUB: Satoshiclubbers! It’s your chance to participate in CLNY distribution 😉 Thank you for your answers, Jack!

Part 2 — live questions from the Telegram community

Q1 from Telegram User @JuanSB07

Within the “Toolkit” or features of Colony I did not find anything about its security and prevention of cyber-attacks or possible hacks. But I could see that something that generates reliability is that Colony is built on Ethereum, but is this enough? What is the security and hacks prevention system they use? If their goal is to create organizations together, online. Is it not possible for one of these organizations to be hacked ?

Jack du Rose: Great question.

One of the most important features of Colony is “Recovery mode”

Recovery mode is your colony’s panic button in case of emergency. Freeze the colony. Fix the problem. Restart your colony via multisig.

Q2 from Telegram User @h1drX

The essential structure of the colony revolves around domains and the permissions that accounts may have in them.  Can you explain a bit about domains and permissions?  What is the relationship between them?  What are the utilities of the six different permissions (recovery, root, arbitration, architecture, funding, and administration)?

@jackdurose

Jack du Rose:  

Another good question. Domains == Teams. In each team a member can be assigned permissions, if you want to operate your organisation on a permissioned basis

In most decentralised organisations however, we expect these permissions to be assigned to smart contract “extensions” which modulate the prodigious power of these permissions, and allow users to take safe actions

Root: permission allows the user (or contract) to take actions that affect special funtions relevant to the whole colony. e.g. upgrading the colony network version, or minting new tokens.

Administration: Allows users to create and manage payments (but not fund them)

Architecture: Allows users (or contracts) to create subteams, and set permissions in those sub-teams

In fact, why am i repeating all this, you can see it in the image

Q3 from Telegram User Johnny ℹ️🅿️

👋Hello Jack

Rather than using a system that allow users to influence decisions based on weighted value of the token contribution they hold with the colony platform, you will be using a REPUTATION system. However, reputation is subjective and may be difficult to measure. How do users earn Reputation and how are they determined?

@jackdurose

Jack du Rose: Great question. Absolutely, reputation is subjective. And in fact most decisions an organisation needs to take are subjective. But also the most common thing an organisation does it to be directing funding towards people, e.g. in salaries, bounties, etc, for work that someone does for the organisation. This is the daily operational work that existing governance frameworks are just completely useless at. So, when you get paid by a colony in its native token, you are Reputation points on a 1:1 basis with the number of tokens you receive. Tokens can be transferrable, but Reputation is a non-transferrable attribute associated with an account. And, importantly, it decays over time. So, unlike with token voting based DAOs. Reputation decay means the people who were there at the beginning don’t always have all the influence. Instead, influence reflects the contemporaneous contributions of its active community. If you don’t maintain your reputation by regularly contributing, you lose it relative to those who are contributing.

Q4 from Telegram User @nadee5

🔴How  can  you   indroduce   colony   simply   to  invite  any  newbies  of  crypto ?

Jack du Rose: Colony is: Organisations, for the internet. Colony makes it easy for people all over the world to build organisations together online, without needing to know or trust one another. Concretely, Colony allows online communities to form, raise money, collectively manage funds, and coordinate activity towards a common goal, without needing to know or trust one another.

1. The ability to structure an organization into departments or teams with their own memberships.

2. To manage a token treasury, and apply budgets to different teams and initiatives.

3. A variety of different kinds of payments, based on a flexible underlying expenditure primitive.

4. To assign authority to members according to a variety of conditions subject to the individual circumstances of the organisation—including reputation earned through consistently valuable contribution to the organisation.

5. To raise funds via token sale, donation, or revenue.

6. It will provide a number of different decision making mechanisms suitable for different use cases and arbitrate disputes in case of disagreement.

7. And the ability for a DAO to make arbitrary transactions with any other contracts on the same chain. So if your DAO needs to govern another protocol, or interact with DeFi, it will be able to do so.

Q5 from Telegram User @Xusuo

I read from your site that Colony’s first governance module lets colonies use new system “Lazy consensus”. Can you explain how does that consensus work for vote system? If possible pls also give with an example so we can understand better

Jack du Rose: Lazy consensus is not our own term. Indeed, many of the mechanisms in Colony are not ones we’ve dreamed up all on our own. Rather the system is informed by the succesful practices in place in many large organisations opperating according to the principles of Responsive or Agile Organisations. You can learn more about these things are https://responsive.org

Lazy consensus specifically, is a term we got from the Apache community, and we think it fits our mechanism pretty well. In all the conversations we’ve had about working DAOs currently, they all agree that consensus formation actually takes place off chain. The on chain vote really only ratifies a decision that is already know. Hence, most votes pass, as most people don’t create proposals they know will fail. So in Colony, rather than making people vote on things they already know will pass, in Colony when someone makes a proposal, if the community agrees, they do nothing at all. Hence “Lazy consensus”. If they do disagree, they can Object and force a vote.

Q6 from Telegram User @Guandog

According to your website, it says this:

“Workers can easily cash out to their bank.”

Do you currently have any kind of FIATS ramps inside Colony?

Jack du Rose: Yes this is definitely something we want to be able to do. We intend to integrate with a service provided by one of our investors called “Exchange API” that will allow users in supported jurisdictions, to back their earnings in supported tokens out to fiat in their bank accounts.

Q7 from Telegram User @topind7

Do you have any email newsletter I can sign up to where I can always get mails about your latest news so as to be updated and be in touch?

Jack du Rose:

Q8 from Telegram User @Abisola1

Where can I buy your token?

Jack du Rose: We’re currently planning our Public token sale. We’re hoping to make it happen next month.

Q9 from Telegram User @ShaLiPon

You mention that soon you will be rolling out a bounty program which will allow contributors to contribute to a bounty colony, and earn a share of a CLNY distribution when the token is released. Allow us to know about that. Can you please inform satoshi clubers if that bounty begin?

@jackdurose

Jack du Rose: Absolutely. I am confident the team at Satoshi Club will help us inform you guys about this program.

Q10 from Telegram User @BlancaSdF

How do you plan to resolve the related issues in DISPUTES? Are you using or inspired by the KLEROS project for this feature?

Jack du Rose: Colony has its own dispute resolution mechanisms which allow disputes to be resolved internally. We don’t currently explicitly support external arbitration, but it is our intention to allow users to escalate disputes to an external third party if they are dissatisfied with the outcome internally.

Part 3 – Quiz Results

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

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