We are pleased to announce our next AMA on April 14th 2021 at 01:30 PM UTC Time: Satoshi Club x Props Project
⚠️Click to see the hour
⚠️Total Reward pool: $1500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Props Project Telegram group
We will have the following structure:
Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 150$/15 users – Open chat for 120 seconds. You can post Max 3 questions. Props Project Team will select 15 questions and answer them.
Part 3: 1200$ – A quiz about Props Project
For more details:
Props Project Website – propsproject.com
Props Project Telegram – @propsproject
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
$PROPS is an ERC20 token but the Props Protocol’s Smart Contract that is utilized for allocating points and reward from app activities is developed on Algorand Network. I don’t seems to understand the need and how you combined these two separate networks in PROPS project implementation. What are the roles played by Algorand and Ethereum network in Props project and how does this mutually benefit apps and users? And as an ERC20 token, don’t you think that the high gas on Ethereum chain may offer a set-back to $PROPS or do you plan to implement Layer 2 and side chain innovative solutions to tackle this?
Props project started in 2017, launched MainNet in Q1 of 2019 and got SEC approval in July same year. However, I read that in Q2 of this year, you will be launching Props 2.0 protocol which will take off with a testnet program and full implementation of Props 2.0 expected later in the year. What innovative features will you be introducing and in what way do apps and users stand to benefit? When is the incentivized staking testnet for Props 2.0 event expected to start and how can we join? And lastly, how will Props 2.0 ensure a gradual transition into a community oriented and social governance protocol?
Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’s eyes. What did Lokum Finance do and plans to do to achieve real world adoption?
Does the price of the token matter to you from an operational perspective, If your token price is $1 or $100?
The growth of Props is directly tied to the number of apps that chose to implement Props. How are you going to attract more apps and what are the conditions that an app must meet in order to launch on Props? What optimising tools do you provide for these apps which can help them to launch easily as well as assist them in running their community effectively? How do you monitor the utility of launched apps to ensure that they are implementing a loyalty reward and business model that can provide a balance between empowering users financially while at the same time helping to unlock further benefits for $PROPS?
Props is an open-source project so if they wish I assume you will accept outside developers to intergrate your token with their app if you are accepting such proposals what are the requirements,that you are looking from the proposer in order for forming a partnership with them and bringing the app to mainstream and finally be used by end users and how many apps are you thinking to bring to the ecosystem is there a limit to number of apps that the project decides to run in the ecosystem
I would like to suggest to bring apps to users which contain educational content and to make it more interesting maybe bring quizzes or games which are related to problem solving skills in order to bring the use of human intelligence to the max and rewarding the users on the basis of wins or progress that they make if they are more involved it’s beneficial for them as it makes our brain more complex and intelligent and maybe help or improve their lives
In the article, I see “any Props Staking Rewards are subject to an escrow period of 90 days before they can be withdrawn. This encourages participation by users who have a long term.”.
If I want to be a long-term user, what benefit will I get over short-term users?
“The long term goal is for the Props Protocol to be fully governed by the community of Props Token holders. As such, various components are designed to facilitate this.”
Can you explain more about the components here?
“The long term goal is for the Props Protocol to be fully governed by the community of Props Token holders.” Awsome !!!!!! but Are there any other conditions or just own Props tokens to become a member of the community of Props Token holders?
While reading about Props Project I saw on your Notable Investors website section something that caught my attention immediately; two really huge non-crypto YouTubers are part of it; Casey Neistat and Phil DeFranco. Can you tell us more about it? How will they contribute with you as investors to reach your goal of adoption on those big mainstream apps?
I read that Props Protocol has a feature called “In-App Rewards”, where Users are rewarded for performing actions valuable to the App. Can you tell us more? How will this reward mechanism work and what can they do with what they’ve won? Also, what actions will be worth a reward and how will the you know that this are truthful actions and not some sort of actions they made by cheating?
As we know Props Project works as a work/discount token that unlocks benefits in the apps that uses it. But what we often see when we talk about Props Project is that is destined more towards the social media apps and streaming apps. So, my question is, to which kind of businesses is Props Project design for? Will only this kind of app be able to use it or could any business model be able to have Props Project by their sides?
I read on your PropsProject website saying that “Transaction Token Props requires payment of a transaction fee in order to be implemented on the Ethereum blockchain” my question is how much transaction fee we have to pay ?? Is the more nominal the transaction, the higher the transaction fee?
the holder of an accessory token must specify how to assign the “weight” of his bet to various applications, effectively evaluating the contribution of utility value of each application. In return, Stakers get two types of Protocol rewards. Can you elaborate on these 2 types of rewards? Do Stakers get App Points from the apps they bet on? How does the Protocol determine which applications are most effective in generating utility value for Props?
As we well know, Props Project applies a controller to certain basic parameters of the Protocol, such as the rate of distribution of rewards, which can only be changed through a privileged wallet address. Can the controller itself be a smart contract? How has Props changed these paradigms? How do your protocols differ to make these programs a fairer and more equitable system for all? How many governance models do you accept?
what can we get in the YouNow app? Are there certain features that can make users interested in the app?
At the heart of the Props Protocol is a system to incentivize Applications to provide benefits to Props token holders. What are these rewards like? Can apps earn Props rewards for the benefits they offer, how’s this? Can apps then distribute Props rewards to their users?
we all know that the World is moving forward and we all have to keep up to date, are there any updates in your project ?? What will you do in the future for this project ??
Trust is an important aspect in the success of any Crypto or Non-Crypto Project. As a voice beginner in the crypto field, How can we trust your project?
what potential does this project have? What benefits will we get as new to crypto if we join your project ??
HOW ARE THE PARTICIPATION METRICS OFFERED BY YOUR PROJECT TO USERS AFTER THE EXTRAORDINARY INTEGRATION OF THE PROPS TOKEN? WAS THERE AN AMAZING UPGRADE?
What are the basic roles of the community for Props? where does the community have the right to speak out for the sake of project progress?
The Props Protocol (the Protocol) is a smart contract that allows a decentralized group of actors (the Network) to coordinate towards the common goal of a growing adoption of the Props Token. It is a central hub where data can be stored and key participants can discover and interact with each other. What are the rewards issued by this protocol based on? How do you rank the rewarded to be fair? How are app rewards determined?
Staking involves transferring Props Tokens to the Protocol, which decreases the Staker’s Props balance and increases its Staked balance. What other aspects can the Staker influence? Is the user free to ditch and get his tokens back? Is there a way to transfer or lose the staked accessories of the users?
As we well know, each application will have its own application-specific application points (points), which are used to unlock loyalty benefits within that application only. How will the system be to distribute the amount of Props won? Can users also earn app points through actions like Staking? Are the points specific to each application? Can these points be transferable?
You said that Props is a simple API for an “application” to implement a loyalty program in a way that empowers the user financially, what is that application? What have you achieved now with the application?
The Props Token ($ Props) is a digital asset that derives its value from a collective of applications that choose to offer benefits to those who own it. Where does the $ Props token come from? Does the Token benefit from network effects? Based on what, is the value of the token calculated? What is the minimum amount that I must have to benefit from the discounts?
One of the greatest strengths of Props is the shared Props token that can be easily integrated with any application without the heavy lifting of implementing the token itself. However, by modeling how Props could grow to hundreds and thousands of applications? How do you identify the needs of each application? Tell us more about these points of application?
I understand that initially the Props reward system made use of validators, which acted as protocol oracles. You have recently made several updates to your application, did you eliminate the validator function? How are app rewards determined now?
Today, rewards are distributed based on each application’s raw metrics (number of users, total Retained Props, and Median Props per user). While it is good in theory to use factual data chain, in practice it creates challenges. These metrics can be falsified, making it difficult to scale beyond a set of trusted applications. How is each application evaluated for the protocol? What does the new reward allocation design look like? If there is the case that a stakers wants to increase their rewards illegally, do they have any penalties?
Today, only a handful of entities (applications and validators) can earn Protocol rewards for doing work. Can you detail what are the corrections that apply to the new design? Will any Props holder be able to bet their Props and earn rewards for participating, is there no limit? How is the distribution of rewards?
Users love to receive tokens for their activity, sellers in the market are rewarded for providing excellent service to their buyers. Apps increase community engagement and revenue with a loyalty token. Who is authorized to issue tokens? In which network are the users to obtain the benefits? How do users obtain capital?
Props symbolizes a simple API for applications to implement loyalty programs that drive engagement and empower users financially. What is the loyalty program Props offering based on? Apart from the benefits that another positive characteristic possesses Props? How does Props improve user engagement and revenue metrics?
Props Project core purpose is to help apps drive meaningful engagement and enable users to benefit from contributing value with the online apps/communities that they love. Looking at some of the apps that currently deploy PROPS, what are some of the integrated API features that make them engaging, interactive as well as valuable for both community and project?
Props is deployed by popular consumer apps & each with millions of users. There’s many Apps running now on PROPS right? We want to understand how Props works, so can you give us an example & pick one App in your platform and tell us how will Props function in that App? Also what are your plans to increase the user base of Props? Thank you
PROPS is an app-level protocol and nowadays some Financial Applications or Crypto Projects offer REFERRAL PROGRAM to incentivize investors and users. So does PROPS also offer Referral Program to it’s users for using your Apps? If yes, what’s the process and how it works?
As communities and projects build, grow and engage through continuous use varying of products and services, so also is the desire for improvements, innovation and scaling. Therefore, how will Props Project look to improve and better collaborate with communities of current and prospective projects in relation to user preferences, community goals and new technology in the coming months and years?
PROPS is a simple API for apps to implement loyalty programs that drive engagement and empower users financially. On your other Amas last January, you’ve mentioned that you have 4 apps launched already, so now how many total Apps you have launched so far & how many apps have integrated PROPS? Also will the team add more Apps in the upcoming months?
What is the main goal of the Props Grant development program? How can developers take part in it?
Your site says Props is an SEC-approved token. How did you do it? What were the requirements? What does it do? Are the possibilities somehow limited?
Please tell us about your implement loyalty programs. What successful examples are there? How can people make money on this?
As we well know, Props Project applies a controller to certain basic parameters of the Protocol, such as the rate of distribution of rewards, which can only be changed through a privileged wallet address. Can you elaborate on these 2 types of rewards? Do Stakers get App Points from the apps they bet on? How does the Protocol determine which applications are most effective in generating utility value for Props?
The holder of an accessory token must specify how to assign the “weight” of his bet to various applications, effectively evaluating the contribution and utility value of each application. In return, Stakers get two types of Protocol rewards: Can the controller itself be a smart contract? How has Props changed these paradigms? How do your protocols differ to make these programs a fairer and more equitable system for all? How many governance models do you accept?
Can the controller itself be a smart contract? How has Props changed these paradigms? How do your protocols differ to make these programs a fairer and more equitable system for all? How many governance models do you accept?
How will the system be to distribute the amount of Props won? The
Users can also earn application points through actions like Staking? Are the points specific to each application? Can these points be transferable?
Props is based on the growth of web 2.0 companies to help them acquire the blockchain ecosystem, what are you plans fir the recent interactive web 3.0 because mainly interaction is needed for the growth of your social setup
In your roadmap, there is the plan of launching the staking and governance portal but firstly as testnet. What are the rewards for people use the testnet and as of now, how can the community be allowed to contribute to the props project.
Thinking of it, your project is not globally adopted because even in my region some of the apps that adopt props is not available for download, i will like to know your plans for global adoption and how are your plans going on for partnering with global social media platforms.
Recently okex Exchanges listed props on their platform but to my surprise they said US and Canasa residents are banned from trading, i will like to know the reason why and what are your approach to this, on your way of being a globally adopted project.
I figured out you have over 10million token holder from your props metric scanner but i will like to know how interoperable your token is and which exchange are you listed on.
Props is a said to be a discount token that unlocks user benefits across a network of apps that adopt Props. Please what are the network of apps that adopt props apart from the most popular YOUNOW and where are there availability regions.
I saw that Props project use $SEC token for user and can get benefit this token. Now my question is the Props project use only one token?
At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it?
Community participant is the very important of any project. Do you have community participant project? Have community any restricted?
Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises??
What is the security mechanism of Props Project to ensure user assets do not become the target of hackers?
What is the vision and mission of Props Project? What problems are you trying to solve? Do these problems remain unsolved with the existing public blockchains?
Under the staking features, Users wishing to participate in the Props Protocol, may do so through Staking. I think this part is one of the place where user need to be very careful and not use levity hand to handle. Is there proper explanation somewhere whereby users can go through before making use of this? And I think terms and conditions should be attached to this features inorder to guide the users, is there any provision for it?
Do you have any ideas how to make the $Props project community more active? Only small percentage of people are voting and even less people have constructive suggestions.
In every crypto space, community involve and provide so much contribution for the improvement of the project. Regarding on this, what program does Props Project have that the community can involve? is there staking or farming model?
Smooth and easy-to-use apps always win the attention of the users when opening or surfing apps. What about Props Project apps? is there incredible IT team backing the apps to prevent any issues regarding smoothness of the apps?
I saw that your official site only has 2 languages. however, South Asia especially INDIA is a very active market, and many projects are currently being developed here. So, what do you think about South Asia and the development plans there?
Could you please tell a little about “Teaching aids abstracting technological complexity” Can you explain the mechanism of action of this tool? Is this tool very effective when in use? If so, where can I see them?
You say “Props, followed by five other millions of user applications that have integrated Props” can you explain What is your strategy or I can say the features that make you different from your competitors.
Traditionally, loyalty programs like giving of Loyalty points have a stable value and an unlimited supply which in the long run becomes very small in value. You created props token to replace loyalty points and preserve the value of the reward. In the long run, how can you preserve the value of the props especially when app users keeps selling their token instead of buying i.e when supply is higher than demand? Do you have a form of buyback or burning program?
In your whitepaper, you talked about the PROPS protocol and the protocol having a connection with staking. What is the PROPS protocol? How can the protocol affect my stake, my reward and the value of the props token? Can you talk briefly about the staking program also.
I have an app i will love to integrate the props as a form of loyalty for my users. I want to ask if there is any terms and requirements i must meet before i can get the PROPS API approved for my app. Is there any country restriction, Age restriction? And if there is country restriction, why is that so and what are you doing about the mass adoption of your project in those restricted countries?
The main reason why props existed was to create scarcity of loyal points. And I could see that you have convinced alot of apps to adopt props token. In the sense why by users want to trade with this token, is there a room for that? And apart from earning props through apps that have adopted props, is there any other means to earn props? As a web developer, i will like to put props token into consideration on some of my websites so that users will earn the token, what are the steps to carry or props token is just only for the listed apps on your whitepaper?
As I know Props is an Apps level protocol that possible to mine token. And i read that your Apps can choose to reward user depend on their action. I think this is really cool! Can you explain how does this reward system work? Do your Apps also give reward if user hold your token?
Can you share to us about Props project marketing plan? What marketing strategy that Props use to spread the project to world? And also im really curious about your investor, who are all of your investor?
One of the techniques for fighting fraud in the system is by introducing “pending props” which acts as an IOU. What’s IOU and what is Pending Props? Is there any other measures you have taken to prevent fraud and security breaches? What actions can be considered as fraud?
You said on site that Props focus in adoption for mainstream app which have much user. We know that bridge between Cryptocurrency world and mainstream world really important. Can you tell us how will Props project try to bridge this?
A Props Token holder must specify how to allocate the “weight” of their Stake to various Apps, effectively evaluating the utility value contribution of each App. The Stakers will choose apps to stake with? What if some App had too many stakers and the others recieve less stakers? Will it be disadvantage to your App partners when this happen?
Does one need to have an app or be a user of an app to be able to stake and earn the props token??
While going through your white paper, I came across this statement;”anyone can delegate the weight of their stake to another address”. This is really interesting. What are the steps required to delegate one’s weight of stake? Also, are game-apps allowed in the props protocols?
Certain core parameters of the Props Protocol, such as the rate of rewards distribution, can only be changed by a privileged wallet address, known as the Controller. Who can be a Controller? How many Controllers do Props Protocol have or do you accept multiple Controllers on your platform?
I see that PROPS is an SEC-approved token, this is big! How difficult was the process of getting the SEC approval and was it worth it from experience? If you were to start again would you apply to SEC again or maybe consider skipping the US market as many crypto projects do?
Do you expect PROP token price will pump on today’s Coinbase Nasdaq listing? 🙂 Will it have a positive effect on PROPS projects in your estimate?
Ethereum Blockchain is widely known for its high gas fee rate for transactions. Can you briefly explain why the Ethereum Blockchain was chosen among several options in this highly saturated space of various general-purpose smart contracting Blockchains?
Hi Props!
Could you tell us how is it beneficial to the projects to integrate with PROPS and use it as a loyalty rewards token? What makes your system better compared to projects attempting to use native tokens for loyalty rewards?
Props is a decentralized blockchain platform fueling a centralized platform and an on-chain project supporting off-chain space. With the two difference in the environment of both parties – Props and the social app, how will you be able to maintain scalability, interoperability and security of both system while trying to deliver maximally? How will you maintain the value of the token?
The long term goal is for the Props Protocol to be fully governed by the community of Props Token holders. What is your timeframe on when Props Protocol can be fully governed by the users? How will you slowly transfer the control to tokenholders?
Users will receive SEC-compliant tokens in each application. What requirements must they comply with? How is this check carried out?
On the introduction video of Props; it was saying, rewarding the users for the valuable actions they perform. Create content, provide services, spend money, refer friends. We’ve seen apps with rewarding programs for spending money and referring friends. But how will users (customers) provide services and create content and how can you track them?
I was interested in In-app benefits of Props: Improved status in the community, Free in-app currency bonuses, Access to exclusive gifts and Tipping in Props. Can you tell us what conditions I must fulfill in order to receive such bonuses and gifts? And what can a higher status in the community give me?
Does your site say that soon Props will be used by dating.com as well? But this is a dating site and app. Unfortunately, there is no video on your site yet, but I would very much like to know, and how Props will work in this application? What benefits can users get by getting acquainted and communicating?
In one of your AMAs, you said you were working on launching layer 2 and it would be ready along with the stacking. So I have a two-part question.
Is there an exact release date for layer 2? I understand correctly, if I move to layer 2, I can save on commissions if I trade on DEX?
What is the benefit if I buy coins now? I will receive a passive income?
$PROPS is an ERC20 token but the Props Protocol’s Smart Contract that is utilized for allocating points and reward from app activities is developed on Algorand Network. I don’t seems to understand the need and how you combined these two separate networks in PROPS project implementation. What are the roles played by Algorand and Ethereum network in Props project and how does this mutually benefit apps and users? And as an ERC20 token, don’t you think that the high gas on Ethereum chain may offer a set-back to $PROPS or do you plan to implement Layer 2 and side chain innovative solutions to tackle this?
To put in stacking I need to be sure of price stability, otherwise when the price falls, all profits will go into minus. What kind of price support system do you have? Will you protect a certain price level so that investors would be confident in their profits?
PROPS PROJECT WHAT STRATEGIES WILL YOU IMPLEMENT IN ORDER TO EMPOWER THE PEOPLE WHO HELP DIGITAL COMMUNITIES GROW AND ALSO HELP APPLICATION DEVELOPERS AND THEIR USERS?
THANK YOU VERY MUCH SIR.
WHAT IS THE INFRASTRUCTURE OF THE PROPS PROJECT, HOW DO YOU MANAGE TO WORK DAY BY DAY BEING ALL CONNECTED TO EACH OTHER FOR THE GROWTH OF THE PROJECT?
CAN YOU EXPLAIN BRIEFLY ABOUT PROPS PUBLIC BENEFIT CORPORATION (PBC), WHAT WAS IT DESIGNED FOR, WHAT DOES IT HELP THE PROJECT, IS IT INDISPENSABLE FOR THE PROPER FUNCTIONING OF THE PROJECT?