We are pleased to announce our next AMA on May 8th 2021 at 03:00 PM UTC Time: Satoshi Club x xBTC
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join xBTC Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. xBTC Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about xBTC
For more details:
xBTC Website – xbtc.fi
xBTC Telegram – @xBTC_Official
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
could you tell me why i have to beleve in your project (with a few lines)
xBTC has been achieving a lot in the last few months. As a rebase coin it’s hard to get listed in exchanges and it’s good that you’ve found a solution for that. But where do you see xbtc heading in the next year? Will there be more exchanges supporting rebase coins? And what are the products that can be build around xBTC?
two part question:
1. xBTC has a dampener of 10 applied to each rebase, over the last 6 months have you found this to be an effective ratio to return to peg?
2. If you had the option to, would you changed the dampener to a higher or lower value?
xBTC technology uses an elastic supply model that is triggered by rise and fall in Bitcoin Dominance. Although there are many synthetic variants of BTC such as wBTC, renBTC, pBTC etc, most of them focuss on price behaviour of BTC and am not familiar with any that is a derivative of Dominance. What parametrics will you be using to measure Bitcoin Dominance, track its behavior and provide Dominance Hedge? How is your token expected to nudge the market towards Bitcoin Dominance through supply changes and in what way is xBTC expected to rebalance base on this measured dominance?
3 days ago, you announced xBTC BSC launch and integration. With this launch, you announced that a whooping $1 million in rewards will be issued as reward for early users. What should a user do to become an early supporter and how will this reward be distributed? What is the Cross-bridge procedures to be followed by users who may wish to bring the ERC20 version of your token into BSC? And lastly, will bxBTC on BSC expected to behave similar in pricing and rebasing mechanism with the ERC-20 variant of xBTC?
You presently have a 20 ETH worth of reward completion running in two categories; xBTC developers and xBTC revolution. As I can see, three winners are expected to be drawn for each category. However, you said it is possible that you may decide not to award anyone if submissions received do not meet your expectations. What type or quality of submissions are you expecting and who can join this event? For how long is this expected to run and how will winners be fairly selected?
xBTC claim to be first cross chain rebase token. But for function, does it have any different with other rebasing tokens? What innovation that you bring into xBTC rebase token?
xBTC is focused on making digital assets that are innovative and easily accessible to everyone. Usually a rebase project using a price oracle. Do you have your own oracle or have partnership with other oracle project? Can you explain more detail about your oracle?
Hi xBTC!
xBTC provides a synthetic index fund. Could you please tell us what makes it different from the competing projects that also provide synthetic indexes? What are the main advantages of xBTC that you think will convince users to join your platform? Thank you!
Hi xBTC!
As Bitcoin loses its dominance, xBTC holders will benefit ,this is clear. But as we know the market is cyclical. What xBTC use case do you envision for when the market changes and Bitcoin dominance begins to grow? Are there mechanics that will allow users to continue getting profits in this scenario? Thank you!
Hi xBTC!
Why did you decide to partner with the ApeSwap and not the largest PCS? I read that xBTC will launch with over $1 million in rewards for early users! What will the rewards be and how can we get some ? 🙂 Will this whole amount go to liquidity providers or do you plan airdrops or other engaging activities? Thank you!
xBTC launched a Protocol called Mint Protocol. The Mint protocol was meant to align the community’s incentives with the project’s incentives. It is also meant to reward users for supporting xBTC’s ecosystem… so how does this Mint protocol work, and how can users benefit and get rewards from this protocol..
After the launch of xBTC Two other projects were launched… one of the projects pegs to the entire market cap while the other pegs to the value locked in DeFi apart from these two, other rebase projects happen to peg to other assets or metrics…. so why does xBTC believe that Bitcoin Dominance is the most interesting and practical use case for a rebase token instead of other metrics and how is pegging xBTC to Bitcoin’s Market dominance beneficial to long term holders..
Recently xBTC Created a cross chain bridge of shared supply with a rebasing token on BSC… making it the the first multichain rebasing token with both the BSC and ERC version fully functional.. so how does xBTC ensure that the rebase occurs efficiently and simultaneously on both chains when there is a change in Bitcoins Market dominance, and what s the correlation that exist between the tokens across both chains, will other chains be considered in the future if yes what chains are you looking at..
You’ve ideated a rebasing mechanism that isn’t pegged to other assets but it is to a “novel oracle”, can you tell us more about this oracle and how does it guarantee the necessary stability to avoid losses to your users?
One of the ways for your holders to passively receive income is by minting their liquidity pool tokens directly on your platform, this can sound very convenient but isn’t there small letters? Is there any risk associated to this option?
one key difference between xBTC and AMPL stated in your medium article is that AMPL is a pegged currency, xBTC is a pegged synthetic derivative-like asset. AMPL pegs their price to a dollar, creating a pegged currency while xBTC peg price to a novel oracle. What is novel oracle? What is the uniqueness it has brought to xBTC and the advantages users of xBTC stand to enjoy.
xBTC is said to be a new technology that provides a synthetic dominance hedge and synthetic index fund to blockchain assets, Being the first cross chain rebase token, It serves as a trading instrument that enables individuals to make investments based on the whole cryptocurrency market, instead of just a single or few digital asset selections. What is the advantages of making investment based on the whole crypto currency overa a single or few digital asset selections?
Nowadays users are looking for the easiest, most efficient and secure way to generate income without so much effort, but, with such a wide market and with so many opportunities, it is often difficult to differentiate great projects from those that are not, so I would like to know, what makes xBTC a great project and how is it achieved that through this, users get great opportunities and benefits?
What innovations are brought to the market by xBTC, what are those unique and innovative features that represent and make this project a great adversary to the competition?
What kind of positive results has the creation of the mint protocol brought and how has it influenced the dominance of bitcoin, how does the issue of rebases and obtaining liquidity of hundreds of digital assets through xbtc behave, how does the process work and the use cases in the defi ecosystem?
What is the relationship you have with chainlink in the technological implementation of Dominance Hedge and bmcd, tell me about the achievements of this integration and the benefit it brings to xbtc?
As stated on your official website, xBTC plans to have over $1 million in liquidity on exchanges on day one, and after a period of 12 months, instead of locking or burning exchange liquidity, it will withdraw no more than 5% of liquidity per month. All these would be achieved as long as liquidity remains relatively high, cos it will provide an option of repurposing the tokens for other uses. How would xBTC ensure that it is guaranteed an adequate liquidity to implement all these measures, what are the primary sources of it’s liquidity generation, and what other uses will the tokens be employed for, if it’s liquidity goal is met?
A large amount of your tokens are intended to be distributed in rewards for the community, in addition to liquidity, are there other ways to participate in the incentives of the ecosystem? Do developers also have opportunities to be a voice on your project?
xBTC introduces a brand new type of hedge, the Dominance Hedge. Please tell us about it. Why is your new type of hedge better than a simple price hedge? What clear advantages can you show us?
According to your website you’ll withdraw no more than 5% of liquidity per month but there’s a possibility of repurposing these tokens for other users, but are these decisions handled centrally or does it fall to their holders and community? How does the governance of xBTC work?
On your whitepaper you mention that it’s a believe of xBTC that the highest value use cases for blockchain technologies are found in the many digital assets beyond Bitcoin. Bitcoin has proven to be the most solid investment plan in the last years, even many governments are starting to invest on it, why is xBTC leading this campaign in favor of other blockchain assets and not Bitcoin?
The smart contract was audited by Zokyo’s Security Team on October 30, 2020. Score 96 was scored. Good result!
But Zokyo’s Security Team recommends that the xBTC team put in place a bug bounty program to encourage further analysis of the smart contract by third parties. So, a lot of time has passed since the audit passed, during which much has changed in xBTC. When is your next audit and which company are you planning to contact? And did you follow the recommendations of Zokyo’s Security Team regarding the bug bounty program?
During the creation process of xBTC, it was instructive for the development team to mirror it to the most analogous instrument available then, which was the Ampleforth. As such, xBTC aimed to improve, and better the successes and also avoid the mistakes made by Ampleforth by incorporating unique features to it’s project. Over time, Ampleforth has been successful, which is a clear indication on how well the market has embraced the rebase token model. Therefore, how will xBTC position itself and leverage on the gains and attention towards this market model and what are some of the critical marketing and promotional drives set up by xBTC to achieving fair dominance within this space?
You are currently running xBTC Community Competition with Over 20 ETH in rewards and a new Job Opening. The awards are impressive! But the conditions are quite harsh!
xBTC Dev (Developer):
Create a dApp for using xBTC to trade the future of bitcoin dominance (like an HXRO.io using xBTC as the native token), cross chain port of xBTC to AVAX or other chain, integration of xBTC into a lending platform as collateral, etc.
xBTC Rev (Revolution):
Wins directly connecting xBTC to a partner that develops into a active partnership, a tweet that gets 1,000 likes and engagement from influencers, a YouTube video with tens of thousands of authentic views, a reddit post with hundreds of authentic upvotes, high quality gifs or memes that get social engagement, a novel idea no one had thought of for an actionable upgrade to the ecosystem, etc.
So, who can take part in the competition, why did you define such difficult conditions for the participants, how many applications did you receive, are there already clear emerging leaders? And if I understand correctly, the winners become members of the xBTC team?
Most projects claim that the community is the most important thing for them, but very few prove that it really is, so how can you guarantee that the community is one of the most important elements in your project and that our investment is really protected with you, i.e. that we are free from fraud or scam?
in your website you state that users through xBTC among many other things, we will have an effective trading pair and a value exchange, can you explain how this is achieved, what are the mechanisms, plans, tools and/or strategies that guarantee this statement?
What do you most want to achieve through xBTC, i.e. what is the biggest stake you are aiming for and what are the plans you have developed so far to achieve it?
xBTC introduces a brand new type of hedge, the Dominance Hedge. This is much more adaptive and responsive than a simple price hedge. Instead of tracking price you track how well Bitcoin keeps up with the breakneck pace of all other blockchain technologies. So with the Dominance Hedge that being used by your platform,what better impacts that it gives to users and traders of xBTC ? How it will affect the decision-making of users with regards to trading? With the volatility of market,how will xBTC Dominance Hedge adopts the bullish and bearish run of the market? Thank you
As the first synthetic rebasing token on Binance Smart Chain and the first rebasing token of any kind to go multichain. How does xBTC rebasing synthetic methods works? How it is different from other rebasing tokens existing in the market? What are the pros and cons of investing and trading xBTC as a rebasing token of any kind to go multichain? Thank you
I’m probably very dumb, but what’s my profit? If when the demand for xBTC increases, you will constantly drive the price down? When I buy an asset, I’m waiting for the price to rise to sell and make a profit, but you have a constant rebase working and will keep the price at what level?
xBTC is a rebase project which work under BSC. Actually rebase token possible make 2 result : Positive Rebase and Negative Rebase. So what will happen to xBTC if always happen negative rebase? Do you have special solution to prevent negative Rebase in xBTC?
Are you suggesting speculation against all digital assets at once, altcoins, NFTs? But that’s too abstract. There are a lot of shiatcoins right now that can drop to zero at any time and negatively affect overall capitalization. I haven’t found anywhere in the white paper the specific names of the coins that will be part of the Xbtc index.
Maybe I am misunderstanding, so Please tell me more exactly what is included in the xBTC index?
xBTC says it is a revolution in rebasing. But for a beginner in Crypto how easy it is easy to understand. Can you explain more about this concept and give an overview of it . what are its features and some necessary points to understand about xBTC?