We are pleased to announce our next AMA on April 12th 2021 at 01:00 PM UTC Time: Satoshi Club x Standard Protocol
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Standard Protocol Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Standard Protocol Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Standard Protocol
For more details:
Standard Protocol Website – standard.tech
Standard Protocol Telegram – @standard_protocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What plans do you have to help drive demand and scarcity for the token?
According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?
Standard Protocol has received a Web3 foundation Grant. What is the importance of receiving this grant in teams opinion. How are/were these funds used by the team? How does the team plan to deploy the funds raised from private/public sales over the next 6 months?
Standard protocol uses three token systems; the MTR, LTR and STND. Why did you have to use three different token system? What are the use case of the different tokens? Which one would be used for farming, staking, liquidity, transaction e.t.c. Can you specify? How can we get these tokens and when?
Standard Protocol provides an algorithmic stablecoin and an index of digital assets within its vault. What problems can you face here and what solutions does Standard Protocol offer?
On your blog, you said Standard protocol is a Crosschain protocol which is more or less what is needed for blockchain interoperability. We have multiple projects with similar purpose but they failed in fully achieving the goal. What makes Standard protocol stand out among other projects? We have different blockchain networks operating on isolated ecosystems. Which networks is Standard protocol targeting? All blockchain networks or some specific ones? What is the protocol all about?
In the vault, we are able to generate MTR. To remain liquid, we have to have at least a 150% collateralization ratio. You even have a formula for calculating debt: Debt (MTR) = Collateral (MTR) /1.5
Can you tell us more about such an opportunity as MTR generating, why you need collateral and why 150%?
Oracle client services are presently running on a centralized scale. You created a decentralized oracle module. How would oracles be rewarded in a decentralized ecosystem? Which token system would be used for rewarding?
Standard (STND) automatically reorganizes collateralized stablecoin, in the manner of an algorithmic reserve bank with decentralized governance for STN holders. How does the Oracle module work in standard? Are all Oracle vendors chosen at times with the amount bet by the users?
The Staking module uses the NPOS (Nominated Proof of Stake) mechanism to select validators and reward them with their actions at each epoch. What are the other Stakeout modules that come among the other modules? Does Standard implement the authority keys for each block in its staking?
Vault The Vault module groups other digital assets together and generates MTRs. Can MTR holders generate other synthetic assets? What information do I need to have to generate other synthetic assets? Does Oracle have to do with this?
You said Standard vault would be used to create collateral leverage. What exactly is Standard vault? Is it like the Maker DAO vault? Or is there any difference? Which coin is supported as collateral?
We have not gotten any information about private round and public IDO. We are waiting patiently and what to know when you would start, how can we participate and what is the total token supply? Will there be any form of airdrop?
In bullish market conditions, Standard issues its MTR stablecoin on a collateral, usually DOT. This allows leverage trading to make a profit with existing assets. Alternatively, MTR holders can generate synthetic assets from oracles such as virtual stocks, commodities, etc. In bear market conditions, MTR holders can still make a profit by buying other digital assets from the settlement. These assets can be bought with MTR and sold on exchanges. Why are digital assets cheaper on the meter market than other exchanges? How do I use the standard protocol? How many tokens does the standard protocol have?
The market module in the standard protocol manages pairs for the Automated Market Maker (AMM) between each collateral and its stablecoin meter (MTR). What commissions are earned for each exchange that occurs in the market? Do you make any links to the uniswap V2 contracts?
I understand that the Token module is a register that stores asset information about the Standard Protocol and other strings. How are assets managed? How is each one identified, are they identified in batches, or do they have a unique identifier?
It is my understanding that the standard protocol of the token system has three tokens, each with a specific purpose. Specify what purpose each of the tokens serves? With which one can the readjustments be carried out? Which one will be used to make the exchanges?
Meter (MTR) Meter (MTR) is the stablecoin that is synthetically generated by the protocol vault. By making a small readjustment of the total supply of the stablecoin with the price of Oracle, does the supply of La Moneda adjust s 1 USD? What other benefits can I get by using $ MTR?
The standard protocol of the token system has three tokens, each with a specific purpose. Can you detail what each token is for? What role does each one fulfill within the platform? How can each of the tokens be obtained?
The standard protocol treats oracles as validators to operate in the broad scope of the DeFi ecosystem. Are oracles used to generate synthetic assets of the stablecoin meter (MTR)? What other function do oracles fulfill within the Standard protocol?
The standard protocol uses a built-in AMM module to provide settlement in a more efficient way in the market where liquidated assets are used to arbitrage. What percentage is assigned to the guarantee? Where is the rest of the liquidity going?
Elastic supply or rebase tokens are used to ensure the value of token by rebasing the token supply based on some preset criteria and to my understanding, rebase tokens are not usually stablecoin. However, one of your Tokens, Meter ($MTR) is described as Collateralized Rebasable Stablecoin. Am hearing this term for the first time and am struggling to really comprehend what it mean. Can you give a better explanation what you mean by this? How is $MTR rebasable and still regarded as a stablecoin? How is it collateralized and what target determine its rebase technique? Lastly, what roles do your other two tokens: $LTR and $STND have within your ecosystem?
Hello,
You said Standard Protocol delivers collateralized, interoperable Digital Assets on Substrate. Can you take your time to explain these in details or try to open our eyes on these deliveries.
You recently secure collaboration with Gingko Bank, a private bank that has an official licence from the South Korean government to work with crypto. What do you strive to achieve with this partnership and how will you be able to work with a government regulated bank without having to face the burden of regulation or centralisation? Do you intend to build a bridge between banking with FIAT assets and cryptocurrency? And will this be limited to Fiat such as $KRW alone or you already have plans to extend business partnership to more geographical location?
Standard Protocol establishes a reserve bank with decentralized governance, also providing an stablecoin and building an oracle module to share block rewards with oracle providers. But as we know most of the stablecoins right now such as USDT, BUSD, USDC, etc, are centralized. This happens with Oracles as well, they are centralized. So, does this mean Standard Protocol is a centralized project then? Can you tell us more about it? How will you have a decentralized governance with stablecoins and oracles being the opposite?
You applied for Web3 Foundation grant which is supposed to cover an initial funding of USD 30k and may rise up to USD 100k depending on milestone. I can see that the first milestone in the grant application is for building of Decentralized oracle. Why did you decide to start with the building of an oracle when there are several decentralized oracles you could have adopted for your project? How far have you gone with the actualisation of this milestone and how possible will it be for you to be able to deliver this task within the required time range?
While reading about Standard I saw that you have three tokens; $MTR, $LTR and $STND. Can you tell us more about them? Why did you decide to have three tokens instead of one or two? Because I saw that $LTR solely purpose is to provide liquidity, but $MTR can also provide it, so, what are the advantages of having the three of them? Also, what are the use cases of each one of these tokens within Standard Protocol’s ecosystem?
Unlike Ampleforth (AMPL) Standard Protocol treats oracles like validators for operating across the wide scope of the DeFi ecosystem. That is, which Oracle vendors are rewarded? How does this feature of the Standard Protocol work?
The Meter (MTR) asset seems very interesting to me, because on your website you say that simply by spending Meter (MTR) you are adding liquidity to the token. Can you explain how Meter (MTR) works and what technology does it adopt to make this possible? It is not possible to add liquidity to the token in DEX’s? Also, you say that you plan for Meter (MTR) to be the most used token in the Polkadot-Defi ecosystem, by when do you expect this to happen?
It came to my attention the fact that you said that Standard Protocol is the first Rebasable StableCoin protocol that will operate on the Polkadot ecosystem. Can you tell us why did you decide to build Standard on the Polkadot ecosystem and not any other like Ethereum which is the most common one or BSC that is increasing it’s popularity thanks to all the benefits it provides? What advantages will Polkadot give to your project if we compare it to those similiar ones that will operate on those other ecosystems?
Standard Protocol provides an algorithmic stablecoin and an index of digital assets within its vault. When the price of these assets within the Standard Protocol ecosystem increases, the token price will also appreciate. New tokens are then issued and distributed to the seigniorage pool, in order to maintain the peg of 1 USD. But is there a slight chance that the standard protocol cannot hold the $ 1 parity? As world reasons like a crisis or something like that?
What is the difference between first generation stablecoins without secured assets compared to a stablecoin that has digital assets within its own vault?
When the price of your assets within the protocol increases, will the price of your token also appreciate? How will one action react to the other?
What will happen to the Standard Protocol when the price of assets within the ecosystem decreases? Is it possible for the token price to go down? What reaction does your vault have in this type of case?
One of the main challenges of stablecoins is to remove the tokens from the circulating supply to generate a price stability of $ 1. What actions does Standard Protocol issue to achieve the best stability for your currency and what happens to the circulating supply tokens?
The current algorithmic stablecoin has many problems with sustainable use cases because they focus so much on price stability. What are the sustainable use cases available in Standard Protocol and how do you plan to get better interoperability?
many platforms have turned to yield agriculture for better interoperability, what strategy does the Standard Protocol use to get the best interoperability and what role does yield agriculture play within the Standard Protocol ecosystem?
There is still no sustainable way to interoperate in financial activities without the unsustainable level of token issuance. What solutions does Standard Protocol offer to problems like this and how does your platform avoid the negative effects of unsustainability in financial activities?
Sometimes, there are some oracles that are centralized and there is no decentralized ecosystem that rewards them. What actions does Standard Protocol execute on these types of occasions and how does Standard Protocol solve the needs of current supplier reward systems?
I have read that the dependence on DEX is not very favorable at the moment, due to the flash exchanges that are generated.How does Standard Protocol avoid the generation of unwanted arbitrage data by depending on a DEX and what benefits does a centralized exchange offer in these cases?
One of the benefits of using Standard Protocol is that it eliminates the mistakes of liquidity systems through a rule called “IQR”. What is this rule about and how is this mechanism activated in the event that a reward system commits a mistake?
There is a downside to current auctions, this point is that auctions are difficult to track and are generally centralized. What would Standard Protocol do to improve this deficiency and how would it offer a satisfactory liquidation auction for experienced traders?
I read that Standard Protocol uses overcollation to mint its stablecoin, Meter (MTR). What is overcollation all about and what benefits does it offer for stablecoins? How does this help to obtain an elastic supply?
With it’s interoperable ecosystem feature, Standard Protocol can work across different blockchains as a form of smart contract in each network, sharing price information to other chains or fiat assets with charging fees. The lack of fees charged on this services, is it totally dependent on Standard Protocol’s self-sustainig oracle reward ecosystem or a variety of other unique features, and can you briefly describe how the self-sustaining oracle reward system works?
Looking at Standard Protocol’s tokenomics and token distribution methods, it is interesting to note that one of such distributive methods is by what is termed “crowdloan airdrop” which will serve a parachain incentive. Can you kindly explain how this airdrop feature will work and will this distribution be exclusive only for the Polkadot ecosystem?
You describe on Medium the disadvantage of oracles being too centralized which makes them “prone to manipulation”, however you also use oracles for generating synthetic assets from the stablecoin meter (MTR), is this the only way you’ll incorporate Oracle services on your ecosystem? How do you balance these disadvantages you mentioned before?
Standard Protocol will implement a 3 token model: $ MTR, $ LTR and $ STND, why did you decided to split the features on your ecosystem into three? Which one do you expect to incorporate in the competitive trading market?
Users in the market seek income both passive or active. Regarding on the income, What does Standard Protocol offer to user for their passive income? is it by farming, staking or minig? is there any incentive for liquidity? Please elaborate.
Market fluctuates time by time and chance to farm and earn also vary. When market in both bull and bear, how Standard Protocol users will be able to earn income?
It is mentioned that Standard Protocol has a 3-toke system which I think very good for users to choose. However, what does Standard Protocol perform to attract investors or new users? Is there any special plan on marketing?
Successful project mostly start with good partnership with incredible partner. We believe Standard Protocol also agree with this. Do you have collaboration with other institution? Can you elaborate about the partnership?
NFTs and other digital assets have been famous and trending. According to you, what will be the future of this assets? How do you plan to get in line of this race and stay at the frontline?
Why did they decide not to auction the guarantee? What was the purpose of this decision?
I see that the STND token is the main token of the Standard protocol and that this allows users to be part of the governance, but what benefits do the other two MTR and LTR tokens offer, how important are these within the Protocol?
Making use of Automated market makers (AMM) will allow digital assets to be traded in a permissionless and automatic way by using liquidity pools rather than a traditional market of buyers and sellers. Don’t you think there are some side effects of the usage of AMM?. What exactly led you to this method?.
Your head advisor is the cofounder of Polkabase and a Polkadot ecosystem and Web 3.0 master, are you planning any further collaboration involving the Polkadot ecosystem? What are the advantages of having him on board?
I saw on your whitepaper that one of the milestones your project seeks to achieve is interoperability and sharing price information to other chains or fiat assets without charging any fees, how is this really possible? What oracles will be involved in this mechanism and what’s the benefit for the sustainability of your ecosystem if you don’t charge any fee?
IF STANDARD PROTOCOL USERS WANTED TO BUY ASSETS AT A DISCOUNT, WHAT WOULD YOU OFFER YOUR USERS TO MEET ALL THEIR PRESENT OR FUTURE NEEDS?
STANDARD PROTOCOL ISSUES A STABLECOIN WITH ELASTIC SUPPLY, SO HOW DOES THIS STABLECOIN DIFFER FROM THE OTHERS ON THE MARKET, DOES THE FACT THAT IT HAS AN ELASTIC SUPPLY HAVE ANY INFLUENCE?
A PECULIAR THING ABOUT THE $STND STABLECOIN ISSUED BY STANDARD PROTOCOL IS THAT IT RESETS THE PRICE IN EACH ERA OF THE COLLATERALIZED STABLECOIN, SO WHAT HAPPENS TO THE STABLECOIN WHEN ITS PRICE IS RESET, DOES IT HAVE ANY ADVANTAGE OR DISADVANTAGE COMPARED TO OTHER STABLECOINS?
Standard has a system of three tokens: METER (MTR), LITER (LTR) and STANDARD (STND). What is the advantage and uniqueness of such a system? What is the meaning of each token and how to get them? Do you think that three tokens are enough for the full development and functioning of the ecosystem?
In one of your pinned messages, you basically specified on the fact that your are oversubscribed for your private sale but asked those that want to become and investor to pm you, i will like to know your hard cap and soft cap and the least with high requirements to become and investor.
In the launch of your vault, what are the assets standard protocol plans to provide for the user and fo you have plans of making these assets available for utilities like staking and trading.
In your docs, you listed up to 3 tokens and i will like to know why you created more than one with the ways we can support the meter economy and what are the utilities of MTR, LTR and STND?
We all know there is no rewards for oracle in a decentralized ecosystem but only on the centralized ecosystem, you planned to rewards oracle providers in a decentralized ecosystem but you proposes a reward mechanism in each era and slashes equivocation with the IQR rules. What are these IQR rules and how do you plan to achieve this with the cons of decentralization
You said standard protocol provides stable coins with collateral assets, i will like to know what these collateral assets and how interoperable they are.
Having three tokens can be sometimes confusing to we users and stressful to you as a developer. Fo instance when governing implementation want to take place, how do you plan to connect the blockchain and promote fair automatic voting without congestion.
Since the main objective of the Standard Protocol is to become a stable currency with a 1: 1 ratio against the USD, what strategy are you carrying out to make this truly true?
In addition to recapitalizing a standard vault with the generated meter (MTR), can the token be used to make purchases?
What strategy will Standard Protocol use to provide liquidity more efficiently in the market?
Hi Standard
Standard Protocol provides an algorithmic stablecoin and an index of digital assets within its vault. What is the advantage of this approach over the traditional stable coins directly pegged to USD? Doesn’t indexing a list of underlying assets and manipulating the float introduce extra complexity?
Hi Standard
Can you tell us more about the Standard Protocol idea of placing liquidated assets in an AMM instead of an auction? How will it be better for the users for users willing to buy discounted assets?
One of the big problems faced by current stable models is that more attention is paid to price stability and not to interoperability. What sustainable use cases will the standard protocol use to optimize interoperability?
Hi Standard
Impressed by the fact that Standard Protocol was awarded a grant from the Web3 Foundation! Was it a difficult process and what was required from you to pass all the milestones?
What Dex system will use a standard protocol to reward its users?
Knowing that liquidity auctions are more difficult to track and participate, what method will Dex use the standard protocol to replace liquidation auctions and thus give more opportunities to participate?
Why to use three different token MTR, LTR and STND when it would be more easy for team to work on 1 token. We have many project with only 1 token yet are going great so why don’t Standard protocol stick to one token?
Chain link is doing really good when it comes to blockchain interoperability. What major difference between you and them?
What are the problems one face in centralized oracles also How Standard can solve that issue and give best to community
Can you tell us in brief about mechanism and modules of Standard?
You mentioned one can spend MTR to make purchase other cryptocurrencies at cheaper price. But how long can you afford to give this discount because no one can give discount forever.
How can anyone use Standard protocol in Bullish and bearish market conditions
I understand that standard protocol is a rebase stablecoin project, but do your project also offer passive income like farm, stake and liquidity mining? Or maybe do you have incentive and reward program for holder?
The most important thing that user and investor want to know is how secure your platform. Please explain more about your security, did you already audit for the platform? And how about smart contract, is it already 100% no error?
I know that Standard Protocol focus on Rebase Stablecoin, but as I know rebase project is not popular and i can say some people hate it. So what are your strategy to attract trader and investor into your project? Do you have any special marketing plan for that?
The stable coin of the Standard Protocol is Meter. On your docs you mention problems of current stable coins for luck of interoperability and their centralized Oracles. How do you overcome those problems? How do you sustain interoperability and how did you solve the problem of centralized Oracles?
When the price of assets within the Standard Protocol ecosystem decreases, the token price will go down and the bank (vault) will issue bonds to remove tokens from the circulating supply and stabilize the price at 1 USD. Where will you get the tokens to be remove from circulation? Are you going to buyback the tokens to be able to pull it out of circulation?
When the price of assets on the Standard Protocol ecosystem increases, you will mint new tokens and distribute them in order to maintain price pegged to 1 usd. When the price decrease, you have to remove or burn tokens from the system, for catching 1 usd again. If this is a stablecoin, then you will have to maintain the price at 1 usd. Do you do it once in a while or is it dynamic for pegging the price at 1 usd, meaning circulating supply changes every second? How exactly do you do it?
As a Rebase Stablecoin project and synthetic asset, I read that Standard Protocol already make partnership with bank with name “Gingko Bank”, can you share detail what are the result from that agreement? Also where is the location of “Gingko Bank”? Do you have plan to add another bank as partner in the future?
Why did you choose to build on Polkadot, what’s the competitive advantage over ETH ?
Standard protocol uses three token system: Meter($MTR), Liter($LTR), and Standard($STND). Why do Standard Protocol created 3 tokens to use for their ecosystem? Is it hard for 1 token to shoulder the usecases of all the 3 mentioned above? Do their supply differ from each other?
Even the other stable coins suffer from high volatility sometimes. I remember the price of tether dropped to 0.70 usd 2 years ago. As standard uses the elastic supply model, how will you solve the volatility problem and create a stable peg?
Q. Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage Standard protocol and token to gain a place in the market and become a best token in the blockchain world?
Standard protocol will build separate working blockchains for each interchain ecosystem to provide unified governance . You will build separate working blockchains? Can you explain why it’s important to separate each ecosystem within the Standard Protocol?
What is the name of founder of Standard protocol? What is the main objective of this project?
Tell us the advantages of holding $Standard Protocol for long term. Also is there any such advantage in short term as well? If yes then please tell us.
Hi if i want invest to your project for long time, How can I join and getting membership in this project? Or maintain any procedure?
Please explain
I was saw this in your project that you maintain Standard delivers collaterized, interoperable Digital Assets on Substrate.
My question is how you maintain it?
Your project have any plan for community people. Community How can engaged in this project?
Can you list main objective and killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Can standard protocol provide an overview of your tokenomics? Will the design of the token increase and decrease with the success of the platform, does it include any scarce pathways, such as equity, storage, or burning?
The economy in the world is hampered a lot because COVID 19, as a crypto business, does it affect standard protocol negatively or positively and are you still on the right track to achieve the standard protocol target as stated in the road map?
1) Why did you choose the name pork swap? Is there any significance to it?
2) In terms of your choice to release only 1 million tokens and to integrate deflationary measures, how to you intend on attracting liquify providers as if the token does not perform the APR’s might not incentive people adding liquidity to the pools.