Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. LOC Game Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about LOC Game
For more details:
LOC Game Website – locgame.io
LOC Game Telegram – @locgame_io
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 Bore Token and our guest
were @Kn129 and @rapid_rapawr. The AMA took place on 7 April.
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 Bore Token! Welcome
to Satoshi Club😀
D. | Satoshi Club: our
guests today – @Kn129 and @rapid_rapawr from BNBvault.finance ! good to have
you here guys!
Genie: Hi D. thank you
for having us we are happy to be here!
Hi Mary!
Mary | Satoshi Club: Welcome
here 😀
BscGeek: Hey everyone its
great to be here today with you all 😊
lets do this !
Mary | Satoshi Club: Hello!
Let’s start our party 🎉
D. | Satoshi Club: let’s
start! 🥳
Mary | Satoshi Club: Guys,
could you please introduce yourself and tell us more about Bore Token 😀
BscGeek: Yes lets us hear
it !
Mary | Satoshi Club: 🚀🚀🚀🚀🚀🚀🚀
D. | Satoshi Club: [
😑 Sticker ]
Genie: Sure, thing so me
and Knad have been in this industry for over 4 years now. And if you understand
economics you would atleast have some idea how Blockchain is about to effect
the whole economic system of the world. In any case last year as well as this
year has been a really good one for both of us. So, last year around September
I believe I came across CORE vault it was a very unique concept. I participated
in it and it was my first token I did a 100x on. The more I understood it the
more I Realized what a genius concept it
was— (beauty of smart contract which allows creativity)— anyways one
flaw that I did notice and it was not a flaw of the CORE contract it is of
etherium was high fees. So when BSC came out i decided to release that contract
on bnb as BORE. I understand that BSC is centralized but in exchange for that
flaw it provides very little transaction fees. Which benefits users. So we are
very excited to see how this will play out for everyone!!!
Mary | Satoshi Club: Yes,
it has sense👍
D. | Satoshi Club: so
you decided to make a fork of CORE on BSC?
Genie: Correct. The fees
are near nill on BSC.
Mary | Satoshi Club: Did
it take your long time to start Bore Token project?
Genie: Yes, Core is
actually a fairly complex code I have 1 main back end developer along with
another back end developer that helps out. Along with 1 UI guy me and Knad.
That are part of the team. We have a lot of plans that for this project some
which we cant announce right now. But all the token holders and LP holders will
be happy and we are very excited!
BscGeek: The team and the
devs have worked extremely hard on it for the last 2 months and we have left no
stones unturned when it comes to preparation. We are extremely excited about
this
Mary | Satoshi Club: If
you have announcement you should definitely share it with us👏
Genie: We will!!!! I
really hope we can keep working with you guys!
And we can use this channel to make the announcement
we cant make it just now as there are few developmental things going on and I
dont want to announce anything that is currently in complete.
Mary | Satoshi Club: Understand
😀Thanks for your intro, guys! Are you ready for the questions from our
community?
Genie: 100%
Bring it
Q1 from Telegram user @Highpee
Your first project CORE was launched in
September on the Ethereum chain and it has been deemed to be largely
successful. However, you have now decided to clone this project and create BORE
as a fork of CORE. Why do you think a fork of CORE is necessary and what do you
intend to achieve with BORE? What are the limitations that are found in CORE
which you will improving on with BORE and in what way will BORE operate
differently?
D. | Satoshi Club: so
as we already understand, it’s all about fees? this is why you decided to make
a fork. or there is something else? what motivates you?
BscGeek: We are not
associated with Core, We are a fork of core but the team is completely
different. Some of the biggest things we want to achieve is make it easy for
users to trade/stake, No one wants to pay $40 to stake on uniswap and with
incorporating bore on BSC I feel this problem would be resolved. A lot of
projects are incorporating from Uniswap to Binance smart chain and that’s why
we wanted to bring this to BSC
Genie: So let me clarify a misconception in that
question. WE ARE NOT CORE. BORE has its on team of developers marketing team
etc. We did take there concept, which I personally loved and decided to go on
bore. Mostly because the fees on bsc are so low. If you transact core on
etherium you will pay about 45 dollars in transcation fees give or take, where
as in BORE you will pay what 3 cents on BSC. Dont get me wrong iam a huge propnant
of Etherium for several reasons —but thats a topic for another day. So this
basically boils down to the fees structure and transactional fees (which I
explained). As for fees structure CORE is 1.1 percent we are 2.2 percent 2
percent goes to lp holders and .2 percent goes to development team.
Mary | Satoshi Club: Will
you follow the path of Core development in the future? Or you will develop your
own initiatives?
Genie: No, although we
have started from the same place in terms of code. Our directions will be
completely different. Atleast in terms of what we have planned for the near
future. There will be announcements of these in the coming weeks.
Mary | Satoshi Club: Gotcha!
Thank you!
Ready to proceed?
Genie: YEs!
D. | Satoshi Club: let’s
goooo
Genie: Always
Q2 from Telegram user @lukacy
Can you tell us about the token
tokenomics? How will the value of the token being determined? You talked about
the price floor – a point below which price cannot drop. How would you maintain
it?
Genie: Yes, so the way
this works is we will always ever have only 10,000 tokens. The advatage of lGE
these 10,000 token are given for free to bnb contributors, but inside an LP
pair which cannot be unlocked for the
underlying asset. IF you were to create an lp after the lge you will have to
pay for BNB and BORE to create lp and then stake it. So as trading begins more
BNB gets locked in as Bore comes out into traders wallets raising the price
floor in the process. And the benefit of this goes to lp holders who staked on
our platform in the form of 2 percent transactional fees.
D. | Satoshi Club: for
people who not familiar with CORE project – are you using the same token model?
with the similar token supply as i understand?
Genie: Exactly same
except for transactinal fees model.
D. | Satoshi Club: got
it! thank you for the answer! let’s move onto the next question?
Genie: Sure
Q3 from Telegram user @yiselen
To encourage real value and TVL to flow
into BORE, BORE smart contracts employ exchangeable strategies that store coins
within groups. This gives a great incentive to anyone who wants to farm BORE
with coins other than BORE / BNB LP. What are the main functions that I must
fulfill to be a bearer of BARE TOKEN benefits?
Genie: So we are working
on an arbitrage bot as well that can use the LP tokens wraps them and creates
value by evening out different assests being traded at different exchanges at
different prices and using the profits to increacse the APY of lp holerss. This
is a little more complex then anticipated. Due to our token being on BSC and
most real assests being on etherium. But there are some major assets on BSC as
well. We are working on this and will have an announcement about this.
Mary | Satoshi Club: Gotcha!
We will wait for the announcement!
Also, can you tell us where we can get Bore tokens
now?
Genie: At this point you
can only get LPS. BORE will be availaible once we list on pan cake swap. PLease
visit our website bnbvault.finance for timer
Mary | Satoshi Club: Don’t
see it😂
I see only coming soon
BscGeek: The LGE is live
on our website . Anyone that wants can participate here
https://bnbvault.finance (https://bnbvault.finance/)
Genie: You will have to
connect with you metamask on bsc. And
the timer is going on with the lge evernt
D. | Satoshi Club: 👌
Mary | Satoshi Club: Gotcha!
Thanks!
BscGeek: You have to click
on the LGE tab
Mary | Satoshi Club: Will
try to connect after AMA😉
Ready to go to the next question? Or you want to add
something?
Genie: Lets keep em
coming
BscGeek: I
think we are good. Lets proceed
Q4 from Telegram user @MaxiVV
I saw that you’re a very young project,
even you created your twitter account on March 2021. While i was researching
your page i realized there is not whitepaper, partners list, information about
the BORE team. I worried a little about this because if we don’t have the
enough information how can we trust our money to you? Could you share
information about the points mentioned before with us? Please
D. | Satoshi Club: and
we can ask here about roadmap as well, people love to know about future plans
of project. do you have plans to publish roadmap?
Genie: Sure so we have
been underdevelopment for a while now. We just engaged our marketing channels
recently. Our concept is pretty simple and if you read through out medium
article all the pertinent information is availaible there. Trust is only earned
we havd delievered everything we promised and we intend to keep it that way. We
are not in it for money more than the love of blockchain technology. If you
don’t trust us its fine we would hate for you to be not part of our project.
But that is not under our control, rest assured whatever is under our control
we will deliever it 100 percent.
D. | Satoshi Club: 👍
Genie: As for future
roadmaps these will be announced in our media channels. Please see them We dont
want to announce anything that is not complete. That is my personal prefernce. And i intend to keep it
that way.
Mary | Satoshi Club: Gotcha!
But may be you have approximate dates when you plan to publish it?
Genie: I will say we
will have a big announcement for our contributors in the next 2 weeks
D. | Satoshi Club: yeah,
i support your point. even some big projects don’t have a public roadmap,
because things changing so fast in crypto
BscGeek: Exactly !
Genie: I think its not
cool to say we will deliever this and that. I think its better when you
deliever it and let the people know.
D. | Satoshi Club: agreed!
👍
Mary | Satoshi Club: Wise
words!😀
Thank you for your answers! Ready to jump to the next
question?😀
Genie: Ready
Q5 from Telegram user @Antoni_azx
There’s a feature on your website named
“The Beaty Zone” however when I click it doesn’t open any link or action, what
is it and what is it for?
Genie: This a purely
cosmetic thing. Like solitaire and Minesweeper. I decided to place that there.
THere is nothing to it
May be ill remove it
Mary | Satoshi Club: You
care about beauty 😜
D. | Satoshi Club: and
Paint😄
BscGeek: haha
Genie: Or perhaps put a
quote there saying “you are beautiful” when you click on it hmmm
D. | Satoshi Club: nice
idea!
Mary | Satoshi Club: Ahaha,
cool😂
Genie: lol
Mary | Satoshi Club: I
will visit your site every day🤣
Genie: Lol……
Mary | Satoshi Club: And
just one 6th and last question left from this part 😀 ready for it?
Genie: Ill do it just
for you
after the launch
lets go
Mary | Satoshi Club: Thank
you 😂
Q6 from Telegram user @MihaiPisica
I saw in your TG Channel an announcement
about your project being audited by RUG DETECTIVES. Can you relate us to what
will focus your main task audition process? Are there possible some private
user data leaks, delays in data delivery, or some other issues you should
figure out and we must stay attentive? And when it will be finished and
revealed? What about other more audition campaigns from 3rd parties and when
are they planed? Or it will be just one by this time?
BscGeek: haha we knew this
would come up, sure we will be glad to clarify !
D. | Satoshi Club: audits
are important mmmkaay 😁
Genie: So we had a
falling out from rug detectives, per them the everything in the code was
completed and good except for a critical error. Just so you know iam involved
in other projects as well and i have about 10 developers that work under me .
ANy ways so I asked my developer about
the thing that was critical according to him its not critical at all. Its just
a different way of calling the fucntion. I verified that independently with one
of my other developers and he basically laughed at the report. So i cloned my
whole project ran the sale event and ran all the transactions to verify
everything was secure. And it was. When i pointed all this out to the auditor.
HE hinted towards paying him more money and at this point I knew what was going
on and and told him we are done. One second ill send the report here
BscGeek: Yes abosultely
thats why we decided to get one
Solhint – Enforce consistent conventions and avoid
errors
Ethlint – Style & security issues
Mary | Satoshi Club: do
you plan another audit? May be you will find another audit firm which will make
everything honest?
Genie: The reason why
this is not a critical issue:
Firstly the code is of an OpenZepplin library named
SafeERC20, to which I must say OpenZepplin codes are thoroughly audited and
globally used as a standard for writing smart contracts.
Secondly coming to the logical implementation of the
function, it is making a low-level safe call which is nowhere utilised inside
the contract.
Thirdly re-entrancy is mostly for handling Ethjer
transfers, but the vulnerability that is being pointed out is inside a library
for token transfer.
Finally, kindly go through this link explaining the
whole functionality and its verifiability.
I see many pool options for farming BORE
tokens. Have you considered the effect of inflation with the increase in BORE
supply? How do you keep the inflation rate steady?
Genie: Our supply will never increacse above 10k coins
Q2 from Telegram user @cryptofollower
I think there is
something is really unique on tokenomics of BORE. There are only 10.000 tokens
and the team does not hold any tokens. So can we say the community will own the
BORE token? Why did you choose this idea to allocate no tokens for the team?
And what benefits will this bring for BORE?
Genie: Would you rather us hold tokens and dump on our
community. I think not, we are in it for long term viability and the tech.
Q3 from Telegram user @KhaleesiTheCryptoLady
How much APR if we stake
in BORE? Do you have also plan to offer liquidity mining?
Genie: This is not under our control purely determined by
transactional volume.
Q4 from Telegram user @topind7
I just knew about this
project today and already in love with it, how do I understand to the core what
Bore token is all about and how I can benefit as a long term investor?
Genie: Again, please read our medium article for details on
the mechanics of the token. We love you and are glad for the kind words!!
Q5 from Telegram user @jayzfreakshow
As I know a strong
community is very important for every project. Do you plan to be a local or
global project? What strategy will be used to expand the community?
BscGeek: We are trying to reach out to as far of an audience
as possible. We get AMA requests everyday from communties all over the world
and the response from all communtites has been humbling and overwheling. We
will try to get as many communities involved in this project. We are in talks
with some japenese and vietnamese channels regarding bringing our project to
them. As soon as something is finalized you will hear it from us first !
Q6 from Telegram user @smelekin
You said the beauty of
smart contract allows creativity but the same smart contract allows exploits if
there is a bug. So how can you make sure the smart contract of Bore won’t have
any bugs?
Genie: We have already deployed a clone of this contract to
make sure everything is working properly. And there are not vulnerability. This
was tested using following. Sol-profiler – Gas profiling
Oyente – Finding common
vulnerabilities
Slither – Solidity static
analyzer
Securify – Solidity
static analyzer
Solhint – Enforce
consistent conventions and avoid errors
Ethlint – Style &
security issues
Q7 from Telegram user @cryptoneco
How much revenue does
BNBVault Finance generate to be an attractive investment tool? What is your
strategy to generate revenue for your users? How does the user investing in
your platform make sure they have a legitimate ROI?
Genie: Again, purely depends on transactional volume atleast
in the initial stages.
Q8 from Telegram user @pratze
My opinion, if a project
wants to grow big and spread fast to world, then they need partner assistance
to achieve that. but I don’t see list of partners from BORE tokens in your
site, can you describe who are the partners of BORE token and what has been achieved
from that partnership?
Genie: We dont want
to seek out partners.But if something happens serendiptuously definetly
open to it.
Q9 from Telegram user @Ratash99
Can you explain the
process of farming BORE with coins other
than BORE/BNB LP and what are these coins ?
Genie: Doesnt work that way.
Q10 from Telegram user @doithay1617
Community is an important
factor in the success of any project!How many communities does Bore have ?What
are there any plans to develop Bore to global ?
Genie: We have a marketing team working on this front. And
they have done a great job.
Q11 from Telegram user @Yiselen
BORE is a fork of the
core of a non-inflationary cryptocurrency that is designed to autonomously
execute profit-generating strategies with a completely decentralized approach.
What are the security methods implemented by BORE for the care of the data and
assets of the users who hold the token? @Kn129 @rapid_rapawr
BscGeek: There will be a price floor created meaning price can
never fall below. The price will be determined once the LGE ends depending on
the amount of BNB raised during LGE. LP token holders that buy LP token will
have bought it at the cheapest price possible. The price floor will be an
incentive to make people feel secure
Q12 from Telegram user @atillayeni
Why did you just fork
from CORE for this project? Why didn’t you just build a bridge for BSC for
CORE? What is the reason for creating BORE project?
Genie:
Please read ama for
answer to this question.
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:
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from SparkleSwap. The AMA took place on January 8, 2021 and our guest was @JonahGlasgow.
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
Маry
Satoshi CLUB: Hello Satoshi Club! We are happy to
announce our AMA session with Coralfarm! Welcome to Satoshi Club😀
Маry
Satoshi CLUB: Hello, guys! Happy to see you here! How’s
going?😀
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi
Club👋
Durrrr
(Timal) 🎯: Doing well, thanks for welcoming us 🙏
CRLSwappr:
Great, the DEX has its liquidity bootraping pretty
well, we are happy about it 🙂
Thank you for the greetings 🙂
Маry
Satoshi CLUB: Let’s start our coral AMA🚀
Gold
Rocket | Satoshi Club: We are very glad to
conducting AMA with Coralfarm!🙌
Маry
Satoshi CLUB: Congratulations 👏 Let’s start with introduction 😀 Could you
please introduce yourself and tell us more about Coralfarm?😀
Gold
Rocket | Satoshi Club: Guys, also tell us a bit
about yourself, please, and how you got into crypto and Coralfarm.
CRLSwappr:
I’m CRLSwappr, I spend a lot of my time (6years) as
a developer in the crypto ecosystem and decided to help building a ecosystem
that allows to offer high yield while offseting ecological cost on usages.
Маry
Satoshi CLUB: Wow, solid experience 👍
Durrrr
(Timal) 🎯: I’m involved in crypto since 2017 and
wanted to take part in a Defi project with a real positive impact. I’m handling
the marketing aspects of the Coral Dex project. But the biggest part
of the job is made by our based dev CRL swappr 😅 as I’m not a code guy
Маry
Satoshi CLUB: Did you recognize DeFi potential from
the beginning?😀
Durrrr
(Timal) 🎯: Yes I’m deep into Defi since last
summer and saw the potential of the BSC pretty early regarding the fees for the
new entrants
Gold
Rocket | Satoshi Club: Friends, you went a good way
before you got to Coral👍
CRLSwappr:
CoralFarm is all about that entanglement between
Defi World and Real World.
Allowing user to have an eco-responsible
gateway to DeFi that gives them ways to trade, farm, stake, compounds their
earnings in a responsible way.
User & NGOs are at the center of all
that, profit are shared between CRL holders and NGO on all the aspects we build
(farm, dex, vaults…)
Маry
Satoshi CLUB: Great concept 👌
Gold
Rocket | Satoshi Club: this is very far-sighted of
you! And what can we expect from Coralfarm? What are you planning
goals and objectives for yourself?
Durrrr
(Timal) 🎯: well the crypto space is evolving very
quickly so you always have to stay humble and keep learning. But DeFi is really
a big turning point imo
CRLSwappr:
In a month, we have continuously delivered, we
created the farms, opened some partnership, donated to various NGOs, built
various features from community feedback and launched our DEX.
The same pace is expected from us, with the
transition from PancakeSwap LP to CRL DEX LP for the farms.
A major interface overhaul is ongoing, as
we expend, we want to professionnalise our perception from users as we are not
just for farmers, but a solution for better swaps too (lower fees for user).
Automated strategies (vaults) are one of
the other big topic we are on this month.
Then a lot will follow thought Q2 and Q3
around our NGO Platform, the implementation of governance and global
gamification & NFT programs.
Main goal is to close the year with our
yield app ready, an app really easy to use for all users outside of Defi to be
able to automate their yielding.
Маry
Satoshi CLUB: Great plans! Sure you will reach your
goals 😀
Durrrr
(Timal) 🎯: The goal is also to have an impact in
the charity space in general, to allow NGOs to understand the crypto donations
are a real chance today and that many people are looking for a way to fund NGOs
without having to convert their cryptos to Fiat. But even in 2021 there is
still a lot of educationnal work to do to achieve this goal
Маry
Satoshi CLUB: Awesome 👍
Gold
Rocket | Satoshi Club: You have a great mission!
Thank you very much for sharing this! 👍
Маry
Satoshi CLUB: Thank you for your intro, guys! Ready
to go to the questions from our community?
Gold
Rocket | Satoshi Club: It was a great intro! Ready
to jump into community questions? Or do you want to add something? 😃
Durrrr
(Timal) 🎯: ready to go ^^
CRLSwappr:
We are ready to answer all the questions you guys
have for us 😄
Q1 from Telegram user @Winner_don
Apart from making CRL a deflationary
token that can be considered as securities, do you have any other reasons why
you created this token/Project? What are the real life challenges this project
is capable of solving? The real world impacts?
CRLSwappr:
Well, as a farm, I can understand this view, but
CRL stays a utility token.
The challenge being the utility to not only
be offered on the users but also on the real world, the idea is basically this,
we use the technologies from DeFi and try to shape it in order for them to be
better rewarding for the user and using a portion of the fees perceived to fund
NGOs, this is what was done initially, with a main goal to be a place where NGO
can just be members of the CRL ecosystem, emit to the governance a funding
subscribtion, and automation of funding being then done.
The challenge the project tries to solve is
on how we offer a way to yield via DeFi to person that are outside of Defi,
this goes to simple user experience usage, and on how to bridge the gap between
DeFi world and NGO World, which is done via the developement of the charity
platform.
Gold
Rocket | Satoshi Club: How do you add value to your
ecosystem?
Durrrr
(Timal) 🎯: We’re already having real world
impacts, even just after a month of activity by funding NGOs with good
reputation and who are doing real actions for the environment like plastics
waste removals etc
Маry
Satoshi CLUB: Fantastic 👍
Gold
Rocket | Satoshi Club: I am very impressed that you
are green!👏👏👏
Маry
Satoshi CLUB: You have an interesting system! Whose
idea was it to create it? Is it teamwork after all?
Durrrr
(Timal) 🎯: Yes it was a team brainstorming which
ended with this idea to use yield farming to funds concrete positive and
ecological actions in the real world
CRLSwappr:
It clearly is, not only within the team, but the
community too.
CRL is not owned by a corp, but it’s a defi
project, owned by its users, we are a team to insuflate a movement to the
project, and as such we all works well together, but the community has been a
big part of this endeavour, they shape many of the decisions
Durrrr
(Timal) 🎯: Having such a positive community since
the beginning is actually a blessing. Of course users in DeFi are often looking for
a quick profit but we were able to infuse something else in this project and in
the community vibes
Маry
Satoshi CLUB: A lot of people here for a quick
profit, you’re right. Thank you for your answers! Ready to proceed?😀
Durrrr
(Timal) 🎯: +1
Gold
Rocket | Satoshi Club: Btw also we would like to
know about your team. Who is on the project team?
CRLSwappr:
We are 2 devs, 1 graphical designer, 1 CMO and a CM
as full time on this project. With two additionals hiring on going (React Dev
and UX Designer).
We have additional ponctual helps to the
team via teammembers that have less of a full time aspect to Coral but still
give a lot of value via partnership, education to NGOs (which requires
sometimes being on place) and higher level strategic decisions.
Gold
Rocket | Satoshi Club: Thank you very much for your
answers!
Маry
Satoshi CLUB: Small and friendly team! 👍
Durrrr
(Timal) 🎯: yes, we’re not a lot but we’re
dedicated to make this a success and to grow slowly with real products and
usecases
Q2 from Telegram User @cryptofollower
As I see you are collecting funds for
NGOs into a charity wallet. And there are already two donations. Which
currencies do you accept? Is it on your plans to add some of the revenue of
coralfarm into this wallet? Also to which NGOs will you give out the money
collected here?
CRLSwappr:
We accept them all, but they will be converted to
BUSD for better transparency. We are glad we already had users anonymously
donating to the charity wallet.
In our side, the farms fees are what funds
this wallet so far. As of this week, we launched our DEX which gives a new
stream of revenue to this wallet.
The idea is that simple, on all revenue
stream we offer to users, we take a small fee that is used to funds that
charity wallet.
We try to mainly aim at Coral Reef
protection NGO (due to the low media coverage they have, we think we can move
the things there), but more broadly to ocean protections NGO.
Each new revenue stream = new stream for
the charity wallet.
Durrrr
(Timal) 🎯: Our original goal was and still is to
fund NGO’s related to Coral Reef protection. But in the real world this is not
that easy because cryptos still have a bad reputation and some organization are
wondering about taxes issues etc. So we reached a lot of NGOs and it was not
really easy to educate them about decentralized finance and cryptos donations. However
next week we should be able to officially announce a first long term
partnership with a Coral Reef NGOs who was very interested about finding new
ways of funding and who is actually registering with The Giving Block in order
to be able to share a public adress and get access to cryptos donations
Маry
Satoshi CLUB: Oh, yes! I can only imagine! But they
need to, i think they can find a lot of donators here
Маry
Satoshi CLUB: It’s cool👏 Why you
choose Coral Reef? Really? I know that there are a lot of problems with them
now😀 Who loves diving, guys,
confess?😀
CRLSwappr:
One of the aspect we are trying to get to life, is
the ability to have an implication into adopting real life Coral.
Via buying a NFT, it could give you the
“ownership” of a coral, being implented by one of those NGOs, and
tranfer of such NFT would also mean the transfer of the ceremonial ownership of
this Coral.
I guess that would be something nice, to
dive near to a Coral you actually helped to bring out in the seas 😄
Durrrr
(Timal) 🎯: well we’re all nerds spending a lot of
time in front of our screens but some of us loved to stay connected to the real
life and spend some time on diving, surfing etc ^^
definitly and the interest of the binance
smart chain is also that you allow people with a small portfolio to participate
and for example send 10 or 20$, which is actually not possible on ethereum
because of the fees
Маry
Satoshi CLUB: Yes, it’s very good idea! I
appreciate it!
Gold
Rocket | Satoshi Club: Indeed👍 it’s very romantic😊
Маry
Satoshi CLUB: I understand you very good😉
Gold
Rocket | Satoshi Club: Thanks a lot for the answer!
ready for the next question?
Durrrr
(Timal) 🎯: that was a choice but we’re doing this
project to fight for some ideas too, not only to be focused on profit. That’s
also why our community sticked with us this whole time because we think that
decentralized finance should not only be about staking, farming, and printing
^^
Gold
Rocket | Satoshi Club: Caring for our planet 🌎
Маry
Satoshi CLUB: Thank you for your answers, guys!
Ready for the next question?😉
Durrrr
(Timal) 🎯: yes and caring about educating the
charity space about finding new ways of funding. For example the UNICEF is
using a crypto fund since 2019 and this should be used a lot of more today. But
in the reality there is still a long way to go
CRLSwappr:
And that’s the thing.
Basically, you can have exchange swapping
done the same way than PancakeSwap, but you could get less fee for users,
better reward for LP, and extra money still available to NGO.
I mean, each swap basically smally offset
the ecological cost of the swap, and it is for less fees than competition
propose. It’s a small change but it create difference.
Q3 from Telegram User @AmirJosh
CoralFarm Finance will also venture on
NFT market which allows adoption of coral reefs. With the launch of Coral DEX,
do you have plans to also create an NFT marketplace? You started coral reef
protection campaign maybe your marketplace and the NFTs to be sold there will
focus on nature and donation drives?
Durrrr
(Timal) 🎯: great question thanks @amirjosh
CRLSwappr:
In the ideal case, we would tightly work together
with a marketplace for this.
But the current state made us think that it
is indeed up to us to build it.
Right now, we have it in our plans, its a
good way to creating funding and the real life adoption model.
What is for sure, is that the website
CoralFarm Finance will propose you to buy, sell, transfer the specific NFT that
gives specific rights, outside of this, we would love to see it done, yes
(basically, any user could create and sell its NFT, part of the proceed goes to
NGO which in exchange yield some ceremonial right such as the adoption)
Durrrr
(Timal) 🎯: We have also a lot of ideas to connect
database from those NGOs to real Coral reef which are replanted into the Ocean
but this will ask some real efforts from them to share those datas with us. So
as you see we have a lot of long term plans
Маry
Satoshi CLUB: Awesome idea! Did you already create
some NFTs to show us as example?😉 Yes, that’s
interesting!
CRLSwappr:
Nothing from the CRL Team yet, for now the
community members are the most involved on it right away, and they crafted some
NFT to ETH Marketplace, but then is again the whole issue with ETH Price.
In our side, NFT is more of a summer topic
(Q2/Q3), while we are still gathering artists together and NGOs, as right now,
creating the first bound to them is the first step before improving the
relation to make this adoption an available subject.
Durrrr (Timal) 🎯: the community already shared some creations with us but we will focus on this part not before May-June
Маry
Satoshi CLUB: I like this! You have talented community!😍
Gold
Rocket | Satoshi Club: That’s very beautiful! aww
Durrrr
(Timal) 🎯: we’re also in touch with several well
known artists from the street art and surf community who offered to do some
artistic works for us
Маry
Satoshi CLUB: Btw, as i know you can also create
NFT on BSC
CRLSwappr:
They are the best, that is for sure.
Community Teamwork is crucial in what we
do, and are glad to have them onboard on this endeavour.
Durrrr
(Timal) 🎯: But again for now we focused on the
DEX first and giving a real utility and value to $CRL which is the case now and very
involved too!! a real blessing
Gold
Rocket | Satoshi Club: Does community activity
affect the final product?
CRLSwappr:
Clearly yes.
CRL Holders are the ones that own the
project. What we are doing is building something that cannot be shut down, and
will perpertuously fund NGOs, but CRL Holders are the one that controls its
future.
We propose, and work with the community to
ensure we all agree on the direction and the fundational layer, creating the
yielding opportunities for the users, but then, its mainly the community that
get to affect the final product while we are mostly proposing a direction to
reach the goal.
Gold
Rocket | Satoshi Club: A clear answer! thanks!
ready for the next question?🚀
Durrrr
(Timal) 🎯: sure go ahead
Q4 from Telegram User @Indomiekuy
i understand CoralFarm is a yield farm
project, i also hear about Coral Reef Project do they have connection with
CoralFarm since your project name is similar, or do they your partner ? speak
of partner, can you explain about who are all of your partner ?
Durrrr
(Timal) 🎯: We dont have any connection with a
specific entity yet, but we’re building it as we speak right now.
Our first partner will be a US based NGOs
pretty well know in the Coral reef protection space for several years now. We’re
waiting for them to set everything with the Giving Block first as this will be
the easiest way for them to “enter” in the crypto world, as this
platform is also providing tax receipt, assistance on setting a wallet etc
Маry
Satoshi CLUB: We will wait for the news about it
from you!
Durrrr
(Timal) 🎯: In the Defi Space we made a few
partnerships like with Supra Finance and Jetfuel
Yes we prefer them to confirm it publicly
first ^^
Gold
Rocket | Satoshi Club: Thank you very much for
sharing! 👍
Маry
Satoshi CLUB: What do you expect from this
partnerships?
Durrrr
(Timal) 🎯: We’re looking to grow our community
and of course gain more exposure for the project. More volume on our DEX is of
course more funds to develop the platform and the Coral ecosystem but at the
end more funds too for the NGOs and real world actions. We are still at the
very beginning but we have to admit that so far not a lot of people on CT
offered to help us a bit and share the project to their community. So having
some partnerships with well known projects in the BSC space is still very
important for us
Маry
Satoshi CLUB: Great mission 🚀 thanks! Ready to
jump to the next question or you want to add something?😀
CRLSwappr:
Good for the next one 🙂
Q5 from Telegram user @lukacy
The Buying back and burning process is a very
good way to maintain the value of the token. In the case of high demand, do you
have a mechanism for balancing the process? I noticed you do more of burning
than buying back. Will this improve the tokens value better? How?
CRLSwappr:
We did bought a lot from the market, and as we
continue to get additional fees, we will follow the distribution (part for
buyback, rest for NGO).
The fees did stall at a specific level, so
it temporarily have halted the process.
Now with the DEX, we also follow the same
principle where fees are used to buyback on the market and part goes to NGO.
We also expect the migration from PancakeLP
to CRL LP to add new fee giving a huge boost to those buybacks.
Mostly, a fixed number of CRL on which
continuous fees helps to buyback and remove (burn) those CRL from the market
looks to me like a good incentivisation program.
In case of high demand, a liquidity crisis
might happen, market will then adjust to the new prices.
Gold
Rocket | Satoshi Club: Sounds good👍 by the way, please share your tokenomics with us
CRLSwappr:
We have fixed a maximum of 830 000 CRL, on which
half is already in circulation and 43 000 burned (so a maximum of 787 000 CRL
so far, will be reduced even more with next burns & buybacks).
Main stream of revenue are with the farms,
that allow you to get your LP yielding CRL.
Those CRL is intended to entitle you for
the DEX Profit-Sharing aspect.
Holding CRL is getting yourself exposed to
the profit on the DEX.
Two stream both have the same system, part
is reward for the users, small fee is used for the NGO, and buyback program.
Emission is decreasing, mainly -20%
emission every 2 weeks.
It is expected that at some point, buyback
from DEX will exceed emited CRL (that’s when CRL goes in a deflationnary model
from its inflationist one)
Маry
Satoshi CLUB: Do you have min supply? After which
you won’t do any burns?
CRLSwappr:
No minimum supply were discussed nor planned – I
expect there won’t be any. Fees will continuously remove CRL from supply (part
burn, so will get it down, part redistributed to holders so holders continues
to get new CRL in net amount)
Gold
Rocket | Satoshi Club: Thanks for the answers! Are
you ready for the final question of this part?😉
CRLSwappr:
Please 🙂
Q6 from Telegram user @senewe10
You said that Aggregators prefer to choose
Coral Exchange because the costs are lower. Sounds good! But do they really
make that statement? If so, where can we find them?
CRLSwappr:
Aggregators are automated system, they don’t make
“statement” really.
It’s a number game, they will give you the
better output for any inputs. We crafted our own numbers to be prioritized on
the selection being done.
Our job is to get the integration with them
(what this week was mainly about for us, graphql and API for coingecko, cmc and
aggregators).
When the integration is done, their own
system will just get you the best price.
The DEX, while in its beta and low
liquidity stage, already offer better price on some pairs than Pancake (you get
more of what you want for the same amount).
As fees are lower in percentage, the bigger
the exchange value you want to do, the bigger the money saved is, and
therefore, the bigger the output will be.
That’s how we plan to get aggregators
choosing Coral Exchange, we will just give more to the users than concurence.
Маry
Satoshi CLUB: In general your dex is very similar
to Pancake, right?
CRLSwappr:
Uniswap, Pancake, it’s the same technical simple
solution called AMM.
We just craft it in a way that is better
for the LP provider that got more fee for its liquidity, better for the users
(that pays less fee), and better for the ecological cost of the swap (as fee
are given to NGOs).
But the same technological solution behind.
Our goal is to improve on what exist, shape
the usage, open it to more broad audience (out of only the DeFi space).
Маry
Satoshi CLUB: Got it! And my last question 😀 is your dex safe? Do you
have audit?
CRLSwappr:
Millenials will be the largest cohort, with the
most amount of money ever managed by a demographic cohort.
Our goal is to help them in what they want
(yield), and help them in what they think (we should do a small thing to the
earth when able to).
That’s the demographic we are aiming at (it
will require a lot of change and UX improvement on existing tech solution)
CRLSwappr:
Multiple prior audit, already battle tested with
millions, in our case, we have a lower liquidity pools that works as honeypot
(therefore the Beta State) while we are conducting additional audits.
Its deemed safe by the differents auditors,
but we never lack too many eyes so we works tighly with security expert as we
go along.
Маry
Satoshi CLUB: Yes, i think you have very well
defined your audience!
Gold Rocket | Satoshi Club: you managed to combine technology with ecology! and this is very impressive! 🚀
Part 2 — live questions from the Telegram community
Q1 from Telegram User @cindy_crypto
As I understand you are 5 people who are building
this project. Do you hire new teammates?
Durrrr (Timal) 🎯: we dont intend to hire new teammates for now but we have a group a
volunteers with active members who want to bring more value to the project on a
regular basis
Q2 from Telegram User @cryptofollower
What will happen to
the PancakeSwap liquidity after you move Pancake LP to CRL LP?
CRLSwappr:
The transition phase from Pancake LP to CRL LP
requires to be fair to both farmers, so while Pancake LP reward will gradually
slow down during the transition period, the CRL LP reward will go up (as people
do the transition, the APY will change and we will adjust to get the CRL LP
more rewarding than the Pancake LP, this can take as much as 30 days as our
goal is that not one got wrong farming with us – even if arriving late into a
Pancake pools).
Q3 from Telegram User @topind7
In what way will your recent partnership with jet
fuel finance benefits your project and your users?
Durrrr (Timal) 🎯: this allow us to get more exposure and also to gain in lelegitimacy
within the BSC space which is very important for the long term image of the
project.
Q4 from Telegram User @alptrader
You said CoralFarm is an entanglement between Defi
and Real World. Which entanglement do you solve for users?
CRLSwappr:
Real user wants yield, especially millennials, they
do not all care about it the specificities and technicities, they just want to
see “number goes up”, they are real world.
DeFi can offer the yield (Profit-Sharing on
the DEX) they are looking for, that’s where uniting both world is important.
Out of that, we want to have the Coral
Reefs and the sea protection NGOs in the loops, they are the real world too,
and we seems to be one of the first project to try to bridge all of those
together.
Q5 from Telegram User @Brainchest
@CT_971
This is a very important question, by answering it
you can convince many people of your honest intentions.
For Donating to Ocean Defenders and other NPOs, you
must provide your name, last name, and your full zip code address.
How will you an anonymous project be able to
transfer funds? Or you will have to reveal who you are and info can easily be
stolen and many will know who YOU are.
Durrrr (Timal) 🎯: Actually this is not
true and this is the magic of DeFi and cryptos. You can actually give to a lot
of NGOs by using The Giving Block platform AND you can choose to make this
donation as an anonymous donator.
That’s how we already managed to give 1500$
to Ocean Defenders (actually 1 ETH is more than that right now) and the same
amount to Surfrider Foundation
https://www.thegivingblock.com/
Q6 from Telegram User @azrayeni
You claimed that you can provide better swaps for
users with lower fees. How can you do that and what will be the fees?
CRLSwappr:
CRLSwappr: Taking PancakeSwap as an exemple :
On PCS, user pays 0.2% fees, CRL cost
0.196% (on transaction value, the bigger the transaction, the better the fee
will be in net amount)
On PCS, LP earn 0.17%, while on CRL, LP
earn 0.171%.
On the difference from 0.2% and 0.17%,
Pancake keep the change to the treasury, we use that amount to redistribute it
to CRL Holders and NGO.
That’s how we can both be one of the
cheapest place to trade, and the most rewarding at the same time, we also
reward more party (not only LP, but CRL Holders and NGOs)
Q7 from Telegram User @atillayeni
As CRL token is a utility token, when will you
launch the governance token and will you create another token for it?
CRLSwappr:
The CRL Token will be the governance token. So no
new token created for that, we we don’t see the need for it.
The same token should grant you rights and
earnings, that’s just the better way to give utility to CRL and value to CRL
holders.
Q8 from Telegram User @centoscu
How will you give the
ownership of a coral when buying out a NFT?
Durrrr (Timal) 🎯: That’s an interesting point but basically we will work on a system
that will allow us to link the NFTs to a specific Coral reef or area based on
the datas NGOs would be able to share with us.
This would be a very innovative
functionnality in the NFT world so we still have a lot of work to do to make
this possible
Q9 from Telegram User @SPAZEEEE
Is your project easy to understand for new users?
and does your project have a manual for users.?
CRLSwappr:
The easy to understand part, is what the yielding
app will be about.
We are not here yet, this is the end-year
endeavour, but basically, the idea is not to educate that much (those looking
for a documentation will find one), but instead to get the options hidden.
In all, you want an App, that has limited
amount of options, you want to stake and to unstake, and everything in the
middle is done for you (yielding strategy selection, autocompounding etc… ).
So while it is the main goal to be easy to
understand for new users, this stays a topic that is on working, and for now,
we are pretty much using the same techs than the one DeFi users are used to, so
we get any DeFi user an easy to use platform and expend toward more easy
friendly interface along the project evolution.
Q10 from Telegram User @Crsare_Muntaha
What makes investors, customers and users feel safe
when working with Coralfarm project?
And how will you get the trust of users?
Durrrr (Timal) 🎯: Well we consistantly delivered for more than a month now, we provided
the initial liquidity during a fair launch without any presale nor tokens for
the team.
We also made regular donations and will do more in the upcoming weeks. Everyone can verify that part on the blockchain and we think all those details make our community comfy to use the platform and help us to grow on a mid/long term basis
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Coralfarm. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
Satoshi Club starts a new Event! Every week, we will open the contest for projects we had as guests in our AMA sessions in the last 7 days. The best project, with the biggest community and support, will get a special prize.
To sweeten the pot, 10 random users will get rewards as well. Show your support and vote on Twitter for your favorite project! We will choose random winners and share USDT as an airdrop.
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Ramifi Protocol and our guests were @kyleforkey and @RamProtocol. The AMA took place on 6 April.
The AMA session was divided into 3
parts with a total crypto reward pool of 500$
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 Ramifi! Welcome to Satoshi Club😀
Ramifi
(Won’t DM You): Hey
everyone great to be here.
Mary
| Satoshi Club: Welcome
here👍 how’s going?
Ramifi
(Won’t DM You): All
going well. Working on Ramifi, learning something new everyday
Gold
Rocket | Satoshi Club: We
are very happy to have you here today! let’s start with a small intro about
yourself and how you got into crypto and Ramifi
Mary
| Satoshi Club: That’s
great! And we also want to know more about Ramifi!
Kyle
Forkey: Hello
everyone! Hope your having productive tuesdays. My names Kyle and I’ve been in
the space around 4 years. I began with a strong interest in the melding of
securities and crypto but have since started thinking much more in terms of
completely native protocols and applications that leave the old behind.
Ramifi
(Won’t DM You): I
started in crypto in 2016 learning about bitcoin faucets and many other small
things that caught my attention. However, as the space progressed, I learned to
grow a passion for DeFi through ethereum and building products on such an
innovative network. Kyle and I then decided to focus our attention to the
increasing inflation or “True Inflation” that currencies like the dollar
experience, especially after the recent stimulus packages that have increased
the circulating supply by over 40%. Ramifi plans to do measure inflation
through the rise in prices of commodities instead of pegging to the dollar.
Mary
| Satoshi Club: Nice,
i think our space is still needs improvements!
I
started with faucets in 2015 as well 😂
I
see that you prepared a great future for Ramifi! When did you start to develop
your project?
Gold
Rocket | Satoshi Club: Nice
background guys and a great unifying idea! 👍
Ramifi
(Won’t DM You): We
started back in 2020 around october
Mary
| Satoshi Club: And
already did a lot! What a speed!
Thank
you, guys for your intro! Are you ready to dive deeper into the details with
the questions from our community?😀
Ramifi
(Won’t DM You): It
was created shortly after the stimulus packages caused by the coronavirus
lockdowns in the US
Sure!
Gold
Rocket | Satoshi Club: Тhanks
a lot for the intro!
Q1
from Telegram user @Arisabela
Ramifi aims to remove the need of USD as the
main coin reference to most of the stable coins, so how is this procedure sort
of? How does it connect with the real world and the dynamic market?
Kyle
Forkey: Well
the infrastructure isn’t in place currently for decentralized oracles for the
amount of commodity data we require, however chain link is working on a second
layer solution that will dramática reduce the cost involved in setting up
oracles for this data. Our aim is to have at least 15 such nodes in place this
year.
Mary
| Satoshi Club: But
how you will remove the need of USD? What do you offer as replacement?
Kyle
Forkey: That’s
RAMs purpose, money is nothing more than a social contract given value by
individual belief in its worth, USD is not backed by anything it’s just
ubiquitous. RAMs value is secured quite simply by math, making social
acceptance possible without a need for 3rd party involvement.
Mary
| Satoshi Club: It
makes sense! So, instead of national cryptocurrencies we will have RAM? Is this
your main goal?
Kyle
Forkey: It’s
extremely lofty but I know for certain fiat currencies days are numbered. I’m
hoping at the very least this protocol is a contender.
Ramifi
(Won’t DM You): Ramifi
serves to be an inflationary unit of account currently in the DeFi space.
Lendable, trade able in a decentralized manner
Gold
Rocket | Satoshi Club: You
are the rebels blowing up the system 😁
Mary
| Satoshi Club: Yes,
fiat’s position is faltering😃 i believe that you will be one of
those who will continue fiats job in the future.
Thank
you for your answers! Ready to proceed?
Ramifi
(Won’t DM You): Sure!
Gold
Rocket | Satoshi Club: thank
you very much for your answers🚀
Q2
from Telegram user @Dudeiebitch
Ramifi is said to introduce the $RAM token
which will help solve inflation by pegging the values of $RAM token to a
dynamic basket of commodities, what are these basket of commodities and how
many of those commodities are available. I will like to know how a user can
benefit from all these also.
Ramifi
(Won’t DM You): Ramifi
will be using commodities by their volume on the global market. These
commodities will be the most traded, and useful for the average persons life.
Things like gold, steel, rubber, wheat, and even cattle. However, we are
planning to scale these feeds as the protocol grows.
We
believe commodities markets and their price rise offer a signal as to the value
currencies are devaluating
Our target basket will contain 100 commodities
Mary
| Satoshi Club: Do
you have full list somewhere?
Ramifi
(Won’t DM You): You
can find the first commodities we will be using on our websites “Learn” tab
Here
are the most traded commodities:
• Crude oil
• Steel
• Soybeans
• Iron
• Corn
• Gold
• Copper
• Aluminum
• Silver
Mary
| Satoshi Club: Thank
you! Btw, what will happen if price of commodity will fall fast as it was with
oil not long ago?
Ramifi
(Won’t DM You): This
is why we use a weighted average, and ignore price fluctuations in one week
greater then our 5% threshold to avoid hyper volatile events like that
Mary
| Satoshi Club: Gotcha
👍
thanks!
Ready
to jump to the next question or you want to add something?
Ramifi
(Won’t DM You): Similarity,
it will be using the weeks average for the commodity in question
Sure
we can
Mary
| Satoshi Club: 👍
Q3
from Telegram user @KeymerS
To achieve a greater volume of your stablecoin
and then achieve adoption, you need to list them in the most recognized
exchanges, I understand that on 04/03 it will be your private sale, where will
it take place? And after it, where can we buy them?
Ramifi
(Won’t DM You): We
are now listed on Uniswap but are in talks with Gate io MXC, and Hotbit. We
will most likely be listed on Gate this week or next week as listings take time
for startups like us
Mary
| Satoshi Club: Will
you have private sale as mentioned in the question?😃
Ramifi
(Won’t DM You): Our
private sale is over!
Mary
| Satoshi Club: Got
it!
So,
just exchanges 😀
Ramifi
(Won’t DM You): Yes
correct
Mary
| Satoshi Club: Btw,
are you already listed on Coingecko? Or Coinmarketcap?
Ramifi
(Won’t DM You): Yes
we are, would you like some links?
Gold
Rocket | Satoshi Club: Sure
Ramifi
(Won’t DM You): For
further announcements please go to: @ramifiannouncements
I
read your site about CPI ( Consumer Price Index ) for tracking inflation, what
is the negative effect of using this methode? What solution can give by CPI
beside tracking inflation?
Kyle
Forkey: The
main issue with the cpi is its ability to hide devaluations within efficiency
gains. As products become cheaper to produce their price remains the same
because USD is devaluing right along side it. There are obviously other things
at play but thats a fairly major component.
Gold
Rocket | Satoshi Club: Sounds
good!
Mary
| Satoshi Club: How
do you devalue this negative effect?
Kyle
Forkey: The
more complex a product is, the more gains there are to be made in efficently
producing it. Even commodities are subject to this to some effect, but by going
to raw materials we are able to mitigate this as much as possible. Natural resources
have inherent worth and though there are improving methodologies of extracting
them they are as close to a baseline of value as we could think of.
Mary
| Satoshi Club: That’s
true 😀
Thanks
for your answers! Ready to go to the next question?
Kyle
Forkey: of
course!
Gold
Rocket | Satoshi Club: Тhank
you very much for your answer!😊
Q5
from Telegram user @lukacy
In your official telegram, you said as quoted:
“Ramifi is not a stable coin, it is a stable contract. What do you mean? Can
the price be subjected to frequent change and sometime pump and dump action?
Can the price become widely different in price when compared with usd anytime
soon?
Ramifi
(Won’t DM You): If
you look at our roadmap, Ramifi is just getting started into the true
inflationary currency we want it to be. In the first growth phase, volatility
is to be expected as there are multiple people speculating on the protocol and
its adoption. However, the protocol will still try to automatically balance the
price of the protocol no matter what is trying to be done. There will be a
certain point after the “growth” phase that will allow ramifi to be more stable
then previously.
Mary
| Satoshi Club: Share
you roadmap with Satoshi Club, please 😀
Mary
| Satoshi Club: You
will use Chainlink oracles?
Gold
Rocket | Satoshi Club: you have big plans and goals! 🚀
Ramifi
(Won’t DM You): We
are going to be using chainlinks open source oracles after our centralized
feeds
Mary
| Satoshi Club: Understand!
Thanks!
And
just one 6th and last question left for this part😀
Ready
for it?
Kyle
Forkey: born
ready
Gold
Rocket | Satoshi Club: Thank
you very much for your answers! 😊🚀
Q6
from Telegram user @Derazy
In relation to community engagement, I found
out that Ramifi will launch Educational Bounty Program. Can you please
elaborate about this program and the impact for community development?
Ramifi
(Won’t DM You): To
participate in this, you must have some knowledge regarding Elastic Finance,
and supply elasticity. More details are in the chat 👍 @ramifiprotocol
Mary
| Satoshi Club: We
will be holding Ramifi Educational Bounty, and we are calling on everyone who
has experience with elastic supply/rebase tokens to help newer users adapt and
learn to reduce the spreading of misinformation. 📚
If
this is you, please DM me! Remember, I will never ask you for crypto or your
keys. Users will be rewarded based on the accuracy of the information provided.
✅
Rewards
to be determined by the community, in $RAM
I
s
this right?
Ok,
guys!
Thank
you for your answers!
Do
you want to add something or we can start with live part?😉
Ramifi
(Won’t DM You): You
guys can start!
Mary
| Satoshi Club: Let’s
go 🚀
Part 2 — live questions from the Telegram community
How does Ramifi Protocol maintain its
commodity based peg?
Ramifi (Won’t DM You): Ramifi
maintains its commodity based peg through supply elasticity. This is a unique
algorithmic mechanism that adjusts the supply according to how far away the
tokens price is from its peg. If it’s below, supply decreases. If it is above,
supply increases. Many factors within the market and protocol itself allow the
network to achieve an innovative synthetic commodity that is tradeable in a decentralized manner while being an inflationary
unit of account.
Q2 from Telegram user @ninoska0012
In today’s market there have been many
clever attempts, each of which has become progressively more sophisticated than
the last from USDT to DAI to Ampleforth. USDT gave us an easy exit ramp to escape
the volatility inherent in the crypto markets. DAI did the same without the
need to trust that a third party had the reserves to pay his debts. AMPL went
one step further without the need for excessive asset collateral for its
production. Does RamiFi make a combination of these 3 stablecoins, please
describe what are the RamiFi projections and benefits?
@kyleforkey
Kyle Forkey: Ramifi
is a fork of Ampleforth though we do plan to make further major adjustments to
the stability mechanism. An algorithmic stable coin is the only chance we have
at creating a stable asset that moves us away from legacy instruments. By using
USD as reserve collateral or even as a baseline peg we are still handicapping ourselves
with reliance on these institutions.
Q3 from Telegram user @lexzy01
Do RAMIFI have any plan for ambassador
programmes ?
Ramifi (Won’t DM You):
Our current ambassador program is our Educational Bounty Program that will
allow people to get paid in $RAM to spread the gospel and knowledge of elastic
finance. Please find it at @ramifiprotocol on our pinned message
Q4 from Telegram user @MCBTrade
What are the differences between the
Ramifi Project and other rebase projects such as Base Protocol and Ampleforth?
What are the differences and innovative features of Ramifi compared to other
projects that provide flexible supply?
Kyle Forkey: The
biggest difference and the most important in my opinion is the use of commodity
data as a peg, it may seem trivila now but we will begin seeing the effects of
the USD printing thats happened over the past year very soon. The second is
that we have no itention of remianing stagnant with regards to the adoption of
new stability mechanisms. There is tons of research being done across the globe
on algorithmic stable coins and we plan to use every bit of it.
Q5 from Telegram user @highpee
I have read that The value of $RAM will
not increase by protocol growth or increase. Since investors are more
interested and after the value and worth of their crypto assets, what then will
make $Ram increase in value?
Kyle Forkey: This
is a tough one to get across because investors are conditioned to look at
price, with the RAM protocol however the price of RAM is not meant to go up,
but the number of RAM will. If rams network increases 100x you are not left
with 1 ram token valued at a $100 dollars. Instead your 1 ram token is now 100
Ram tokens valued at $1
Q6 from Telegram user @Pirry05Universe
What strategies will Ramifi Protocol
implement to solve the problems with ma supply and demand in the exchanges?
How does Ramifi Protocol solve constant
and unavoidable inflation? What are
those strategies that you implement to execute this?
What is the total distribution of $RAM
tokens? And what benefits do the users
that provide liquidity to the Ramifi Protocol ecosystem get?
Ramifi (Won’t DM You):
Our protocol, after the growth phase of course, will essentially try to create
a stability that revolves around the peg. This peg is made up of a weighted
basket of commodities. These commodities can be found through the chat above
but check them out on our website at ramifi.org on the “Learn” tab.
Q7 from Telegram user @BlancaSdf
What are your plans and strategies for
marketing and expansion and use around the world? Do you have plans to open
communities of different languages and
so on?
Ramifi (Won’t DM You):
We have great media partners that allow us to spread out messages on platforms
that are quite visible. We also usually hold some sort of bounty program every
couple of weeks and AMA to keep the community active and earning. We currently
have a Korean community and will be having a Chinese community soon on WeChat.
Korean: https://t.me/ramifiprotocol_kor
Q8 from Telegram user @vedamatrix
There is a project named Madahao released
a stable coin pegged to gold, stock and dollar. What’s the difference of Ramifi
from it?
Kyle Forkey: Stocks
would not be a great peg as their earnings increase right along side the amount
of money in circulation. Just look at how incredible the market has done after
pumping 4 trillion in printed money into it.
Q9 from Telegram user @topind7
Does Ramifi protocol have any partner and
what benefits has it done to you?
Ramifi (Won’t DM You):
The project will announce a series of partnerships this month that aid ramifi’s
utility within the space. Lending/aggregators/liquidity services are our go to.
Q10 from Telegram user @sumione
Is there an option with $RAM token we can
participate in DAO or what more we can do with it?
Kyle Forkey: We
have a governance contracts in the works that will not only be able to decide
on protocol changes but will also be given access to the treasury for further
improving the protocol itself.
Part 3 – Quiz Results
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about the crypto project. A link to a Quiz
form was sent into the chat.
For
more information and future AMAs, join our Social Media channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from PhoenixDAO and our guest was Monte Thomas – @Degreatone and Mark Anstead – @ansteadm. The AMA took place on the 31th of March.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with PhoenixDAO! Welcome to Satoshi Club😀
Goldie Rocket | Satoshi Club: Today our guests are Monte Thomas: @Degreatone and Mark Anstead: @ansteadm! Hello and welcome to Satoshi Club @Degreatone and @Cryptololo08 Kyle Gibson!
Mayor: Hello Mary. Thanks for having me today and happy to meet your awesome community.
Kyle | PhoenixDAO: Hey, Satoshi Club great to be here!
Goldie Rocket | Satoshi Club: Introduce yourself. How did you get to be involved in crypto & PhoenixDAO? Tell us a bit please about yourself and your position in PhoenixDAO.
Mayor: Great. I’m Monte Thomas. I got into crypto purely out of curiosity when I was still working as a freelance tech writer together with my day job(lecturing) back in 2014/15. After taking my personal deep dive to learn about blockchain/crypto, I got a role with a crypto project to cover articles, after which I moved on to work as a sales and marketing person. I currently work with PhoenixDAO as the Partnership Director. This role sees me bring to bear a combination of Biz Dev skills, Marketing, and Sales while covering the Legal responsibilities of the project.
Kyle | PhoenixDAO: Sure, my name is Kyle Gibson, I got involved in Crypto back in early 2018 and so I’m sure much like most of you’re community have endured that wonderful bear cycle 😁. I was mainly involved in a number of advisory roles back then and it was only around the launch of PhoenixDAO that I jumped in feet first, It was my background that lends itself to PhoenixDAO as a business owner, spending many years in a key role of a digital marketing agency.
My role within PhoenixDAO is Communications Director, as well as this being part of the Core team means we have a vast number of roles especially in these early stages of growth. Marketing, networking, listings…the list goes on.
Mary | Satoshi Club: Oh, you’re an early bird👍 and you already did a great job on your position 😉 Marketing is the key😀 Maybe I’ll be OG soon. 😆
Kyle | PhoenixDAO: Isn’t it just, we recently partnered with LunaPR who are doing a fantastic job in supporting us.
Mary | Satoshi Club: Thank you for the intro, guys! And now can you tell us more about PhoenixDAO?😀
Goldie Rocket | Satoshi Club: So.. What is the essence of your project?
Mayor: Ok, let me summarize here.
Phoenix DAO is a community-driven project that sets out to solve the centralization issues at the core of many crypto projects out there. It aims to achieve this through its community-built DAO platform designed to eliminate whales manipulation in making proposals and voting process (in this case one man one vote), developing in-house products that are built using PhoenixDAO’s suite of protocols which includes the Authentication, Identity, Payment, Storage, and Tokenization protocols. You can think of it as a linked ecosystem of governance (DAO), DeFi products (among others which include, a staking dApp that enables liquidity farming, events ticketing dApp, dApp store just like Google play store) all powered by the PHNX token.
The essence of the project is embedded in the power of our products ad protocols. Which is to give freedom to all/power of participation to all in the space while building products solving real issues in a simple to use way. Permit me not to use any tech jargons here today 😀
Mary | Satoshi Club: A lot of features 👍 impressive 🥳 And we have some questions regarding these features 😀
Kyle | PhoenixDAO: To add to this our ecosystem consists of this stack.
DAO – A custom-built governance platform to enable a decentralized democracy and also an ecosystem growth platform whereby users are able to apply for grants to build within the ecosystem.
dApp Store – A custom-built hub to give users a one-stop shop to all things PhoenixDAO.
Products – User base and network effect is key, all products within the ecosystem will bring an element of PHNX utility and growth but also the PhoenixDAO foundation is also developing flagship apps that will not only fuel growth but also project sustainability with revenue-generating initiatives.
Mary | Satoshi Club: I like your DAO system!
Mayor: You’d like it more when you interact with it.
Kyle | PhoenixDAO: We can’t wait to launch the latest version of the platform!
Mary | Satoshi Club: Yes, it’s always exciting 👍 Thank you for your intro, guys! Are you ready to move to the questions from our community?
Kyle | PhoenixDAO: Absolutely, fire away 🔥
Goldie Rocket | Satoshi Club: Q1 from Telegram user @Rosane1a8 PhoenixDAO has a feature that allows the user to create digital identities, for that purpose, do you need personal information? Which data is required, how is it stored, and what are the uses of this digital ID?
Mayor: I’ll handle this.
No feature as it were, I believe you meant to say we have a digital identity protocol. As you may know, this protocol is built on ERC-1484, a digital identity aggregator. This protocol together with other zero-knowledge (zk) tech can be used to manage user’s identity in a decentralized manner for products built by us/our partners. A typical example is seen in the app built by Numio, one of our partners. Building on this, user details are totally under their control and stored on their devices and not that of third parties https://play.google.com/store/apps/details?id=com.numio.pay. This is going to be the norm to conduct KYC and other checks/verification in the new digital economy.
Mary | Satoshi Club: Do I need to create my digital identity once?
Mayor: Yes, but depends on what you’ll be interacting with.
Kyle | PhoenixDAO: Right now we’re working closely with Numio to utilize their solution which means, yes you’ll only need to create one ID however, we will likely look to create our own solution as part of a wider B2B play.
Mary | Satoshi Club: Got it👍 thank you! Ready to proceed?
Kyle | PhoenixDAO: Yes let’s go.
Goldie Rocket | Satoshi Club: Q2 from Telegram user @Pratze I think the $PHNX token will become one of the important part of the PhoenixDAO ecosystem, could you give us an explanation of the token utility, how this token will interest us or investor?
Kyle | PhoenixDAO: Okay, I’ll jump in here.
You need the $PHNX token to interact with the entire ecosystem and let’s not forget that continues to evolve and grow, right now it’s a requirement for the DAO, Events dApp, Spot staking dApp, eventually the dApp store and everything else we’re building out. Our latest roadmap shows some of what we already have planned.
Something worth mentioning is the fact that we have a linked ecosystem, our philosophy is that fragmentation is the enemy, taking this approach automatically puts the $PHNX token in a position to keep expanding.
Mary | Satoshi Club: Thank you! Everything is clear for me 😀
Goldie Rocket | Satoshi Club: Ready to proceed to the next question🚀
Kyle | PhoenixDAO: Yes absolutely 😁
Goldie Rocket | Satoshi Club: Q3 from Telegram User @yellowchamp In your Medium article, I read about the community relaunch of the Hydro Ecosystem into Phoenix DAO to bring true decentralization. So aside from this reason, can you tell us more grounds and basis of relaunching and changing of the name from Hydro Ecosystem to Phoenix Dao? As you change the name into Phoenix Dao, how does true decentralization being committed and achieved? What are the positive impacts that the Phoenix Dao name brings to the entire platform’s ecosystem, to the community and to your investors? Thank you.
Mayor: Bringing true decentralization is a major reason for creating the project (as it relates to structure, project running/governance, token distribution, development, and everything about the project), and we believe that’s a big enough reason, else there’ll be no need for blockchain as it were.
After launch, we started development work on our DAO platform (among other dApps) which will be the go-to place to pilot all project affairs. We’ve already had our first beta testing and in the process of implementing some changes before the DAO is fully live. We hope to release the platform before our first anniversary in May, meaning everyone ($PHNX token holders) can then begin to be involved in what happens within the PhoenixDAO ecosystem. To us, that’s already a fraction of decentralization in governance being enabled. Worth mentioning. The team didn’t allocate huge amounts of tokens (the PHNX team owns less than 5% of the total supply) to themselves to remove the fear associated with most projects where the team owns as high as 50 percent of the total supply.
Mary | Satoshi Club: That’s great! Hope your beta testing was successful 👍
Mayor: Yes it was, and we got very useful feedbacks.
Mary | Satoshi Club: Testing always help🚀
Kyle | PhoenixDAO: We have a fantastic community which is always willing to help so it’s been great so far.
Mary | Satoshi Club: Sure! Satoshiclubbers, you can join the PhoenixDAO community and rake part in this awesome project 🔥 Join here @PHNXDAO. Ready to proceed, guys?
Kyle | PhoenixDAO: 100% you can! be great to see some of you joining. Yes let’s take on the next hard-hitting question 💪😁
Goldie Rocket | Satoshi Club: Q4 from Telegram user @AmirJosh With PhoenixDAOs Client Phoenix Authentication, the user’s secrets never leave their device. What is the process of receiving the authentication code if ever the user’s device is lost or damaged, beyond repair? Is it just like the google authentication code with private keys or QR code?
Kyle | PhoenixDAO: The PhoenixDAO Authentication protocol is just that, a protocol which in layman’s terms is a technology building block, Monte outlined more around this above. What this enables us to do is work with individuals, SMEs and institutions alike to build out applications utilizing the PhoenixDAO tech. It would be the applications built on top of our protocol that manages this. Right now we have a handful of partners – Numio, Ferrum network to name just some who we are in talks with at the protocol level but our focus right now is building out the ecosystem infrastructure.
As part of our partnership with Numio, they have built out an app that enables lots of features including retrieval of your PK. Read more about the Numio partnership and offering here – https://numio.one/numio-x-phoenixdao-partnership-update/
The beauty of wrapping protocols into our top to bottom ecosystem offering is that we’re able to build in some fantastic tokenomics for $PHNX.
Mary | Satoshi Club: We know Ferrum, they are cool😉
Kyle | PhoenixDAO: Yes, they’re a great bunch!
Mayor: O great. Small world. Someone knows someone that you know 😄
Mary | Satoshi Club: Yes, they also had AMA here😀 crypto world is small😉
Mayor: Not sure that will be the case 5 years from now.
Goldie Rocket | Satoshi Club: Yes, in the crypto world we are all interconnected 🌎Time will show! And I’m ready to show you the next question! 😁
Kyle | PhoenixDAO: Let’s go!
Goldie Rocket | Satoshi Club: Q5 from Telegram user @Andrey_Seleznov Phoenix uses smart contracts to facilitate payments without a 3rd party escrow service. Will you have your own POS to process fiat transactions? Will users be able to convert crypto to fiat and withdraw it using your service? Thank you!
Mayor: We don’t offer this service right now, but the plan with our payment protocol is to cover this type of service in a secure and decentralized way leveraging our identity and authentication protocols. Most of the solutions will be built by partners/individuals/groups that get grants from us.
Again I’ll point you all to Numio. We work closely with them to see how all these services are available to PHNX holders. To read more you can check their website www.numio.one
Kyle | PhoenixDAO: To also add here with the recent launch of our Events Marketplace we have already begun discussing how an Escrow feature could help prevent potential bad acting so it’s absolutely on our radar.
Mary | Satoshi Club: How many grants did you already give?😀
Mayor: 1 so far. More to come when the DAO is fully live.
Mary | Satoshi Club: Yes, we have the last question from this part about this Marketplace 😀
Kyle | PhoenixDAO: Okay great, I can take that one for the community then 😁
Goldie Rocket | Satoshi Club: Q6 from Telegram User @konditer_rolex We all know marketplaces that offer a wide range of physical goods. It’s hard for me to imagine what an event marketplace is. Explain for what purpose PHNX Event Marketplace is being created. Who may be interested in this from a commercial point of view and what segments of the population is targeted by the app in terms of using the proposed services
Kyle | PhoenixDAO: Okay sure, so if you aren’t familiar then think about platforms such as EventBrite.co.uk or TicketMaster.com, we’re aiming to disrupt this vertical by bringing Event creation, management and sales on-chain. We see this as a Global product that can actually reach populations that centralized applications cannot. DeFi/Crypto opens up doors to the unbanked and that is most certainly a demographic we will be looking to support.
Here are a couple of key points worth noting:
The PhoenixDAO Events Marketplace uses $PHNX tokens to buy and sell event tickets.
Events can be virtual or on-location.
Events can be assigned categories we are all familiar with.
Event tickets are ERC-721 NFT’s, allowing users to transfer, send to others, buy for a family member or friend.
Event creators have a dashboard for metrics and their sell data.
The Marketplace is decentralized using powerful and familiar blockchain integrations.
Unlike other platforms the PhoenixDAO Event Marketplace is free to use (except network fees will apply) this is subject to change in the future.
And here’s a great article outlining what we’re doing with the event marketplace – https://cryptodaily.co.uk/2021/03/PhoenixDA-events-dApp-launch but it’s also worth knowing that we see this as an evolving product, we have an aggressive update plan to build out new features and partnerships. This will start heating up once our integration with Polygon(previously Matic) is complete.
Mayor: Here’s also a Twitter post where I explained some more areas of use. You can check.
We're now on miannet. Pecks of using @phnxdao's Event/NFT marketplace dApp:
-Anyone from anywhere can use it without restrictions -You don't have to send us emails to put up events. Just click and create your event on the go -You receive payment directly for tickets sold
Mary | Satoshi Club: Wow, a lot of info! Sure it will help us to understand everything correctly!
Kyle | PhoenixDAO: Haha sorry, hopefully, the community finds it all really useful though.
Mary | Satoshi Club: I think I missed this implementation 🤦 great job! And the live part is coming, guys! Ready for the storm of questions?😀
Kyle | PhoenixDAO: Lol, let’s go.
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ Divya ….
⭐️ What are your current strategies to attract investors and new users to $PHNX?
Mayor: We are targeting more users than sole investors. I million people using the events dApp to monetize their skills is more important to us. It doesn’t matter what your area of professionalism is, you can use it if an expert sells tickets for events where you teach others. Please check it out: https://t.co/1i9nkJIujX?amp=1
NB: Fees are a bit high now due to Ethereum network congestion, which is why we’re moving to launch on Polygon (Matic) very soon
Q2 from Telegram user @ 💐💗 NDee 💗💐
Hello sir🙋 Where can I buy $PHNX?
Kyle | PhoenixDAO: $PHNX can be traded on the following platforms and also will be available on Binance smart chain soon.
For other DEXs & Aggregators, eg: 1inch, Totle, Matcha, etc., please copy & paste the Contract Address below: 0x38A2fDc11f526Ddd5a607C1F251C065f40fBF2f7.
Q3 from Telegram user @ Marian Merheb
🧨 While I was looking at your website one thing that caught my attention at the end of it was this little section of “Become a Member” where it says we can be Ambassadors or Contributors, but I couldn’t find any information about these two titles. Can you tell us more about it and what are the differences between each other? What are this names entitled to? What role will users have on this two categories and what are the requirements do you ask if we want to be either an Ambassador or a Contributor?
Mayor: We’ll call for ambassadors in the future but not at the moment. Although there’s a call for developers now. https://t.co/dSIjU21uwL?amp=1
Q4 from Telegram user @ Arya
Do you have a plan to introduce $PHNX yield farming and token staking for the benefits of long-term holders? When will it happen or what are other ways to earn while holding a $PHNX token?
Mayor: Yes. This is going to be a feature in our Staking v2 getting set for launch in Q2.
Q5 from Telegram user @ Icy
Currently, PhoenixDAO using ETH blockchain and we know the big problem cause by this blockchain is fees. Do you have plan to change the chain? Or maybe you will going for multi chain? Could you share with us your plan?
Mayor: Yes, we’re going for multichain.
Q6 from Telegram user @ Neveran Cryp ❄️⛽️
I made a lot of research on where to stake my PHNX but all to no avail, I did like to know where and how many APY I did receive when I stake my PHNX?
•Spot Interest: 20% APR (365 days) – paid instantly. •Stake Limit: No limit per address. Limited to 20,000 phnx per txn. •Stake Period: 1-365 days.
Example of Interest Calculation: i) If you stake 20,000 phnx for a FULL 365 days, your spot interest will be 4000.00. ii) If you stake 10,000 phnx for 300 days, your spot interest will be 1643.84. iii) If you stake 15,000 phnx for 200 days, your spot interest will be 1643.84.
Yield Farming and Liquidity Mining, what do you think? What about your Liquidity Mining Program? What can we expect from this project in the short term at some point in 2021, and in the long term of course?
Most projects want to solve the centralization issue, what does PhoenixDao team has developed that other projects don’t have? What is your edge among those projects that also want to solve centralization?
Mayor: Ours is designed to accommodate one man one vote where there won’t be whale manipulation
Q10 from Telegram user @
DELETED QUESTION BY THE USER
Kyle | PhoenixDAO: We are taking a ‘what do people want and what do people need’ approach.
We knew full well that if we were to heavily focus on protocols and tech from the outset unless we have lots of money we would struggle to get traction. PhoenixDAO launched as an airdrop and actually without any seed funding or pre-sales so we’re focussing on the tech that the community can interact with immediately. Events, for instance, there are so so many ways to use this globally, being the most secure and competitive solution on the market we expect to see our user base grow quickly and with every event which is promoted, so is PHNX!
As mentioned we have already launched products and the DAO is coming very soon.
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:
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Orakuru. The AMA took place on April 6th, 2021 and our guest was @JonahGlasgow.
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
0xSPA | オラクル: Hey everyone, thank you for inviting us 🔮
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club @oxspa @alifromcairo😀
D. Папа Роуч: @oxspa @alifromcairo hello! good to have you here! 😇
Gold Rocket | Satoshi Club: Let’s start with a small intro!
D. Папа Роуч: nice idea 👀
Gold Rocket | Satoshi Club: Introduce youreself. How did you get to be involved in crypto & Orakuru? @oxspa @alifromcairo
0xSPA | オラクル: Okay, hey everyone:
Due to being anon, I can’t give away too much. We’ve been in crypto for over 5 years, getting busy during the first DAO (And collapse) before the the ETC fork.
The normal story, we saw the power, went through the ICO craze, came out the other end with far more understanding of what the market needs.
Orakuru was an ‘obvious’ venture for us. We felt the pain point, there’s no ‘good’ native BSC oracle, and that’s how we started on this adventure 😎
Gold Rocket | Satoshi Club: 5 years is a lot for crypto👍 welcome to this bull run today😉 What is the essence of your project?
0xSPA | オラクル: Today is much better tahn it was 3-4 years ago, much much better
Gold Rocket | Satoshi Club: Indeed😁
0xSPA | オラクル: Well, Orakuru (orakuru.io) is an on-chain data source for dApps, specific to BSC (For now).
It’s an Oracle. A special Oracle.
We’re able to bridge any type of off-chain data, whenever a requester decides, and bring it on chain.
Think presidential results, the weather in Paris, or an UFC fight. Completely random, all can be pulled on-chain.
We’re also a DAO, community owned and operated protocol, unlike the larger incumbants. That means that we’re run through proposals in our governance stack. No singular big VCs, no gatekeepers, no Silicon Valley.
Gold Rocket | Satoshi Club: Sounds great😉
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Orakuru?
0xSPA | オラクル: I assume you’re asking, how long have we been developing it thus far? In that case, its the best part of a year
Complete DAO, 0 centralisation, wholly passed onto the contributors
And the big one -> Chain agnosticism. Running not only on BSC. Which we think is achievable this year
0xSPA | オラクル: What can you expect? Well…
We are ambitious, like any team. But we have far more backing it.
We want to be a top 5 Oracle by 2022, with at least 50 partners using our data, then anything is the limit
Gold Rocket | Satoshi Club: Also we would like to know about your team. Who is on the project team? We already know that you are anonymous, nevertheless, please tell us the available information … I wish you with all my heart to achieve these ambitious goals! 👍🚀
0xSPA | オラクル: Sure,
We’re ex-Badger, Matic, Redbull, Airbnb and more. Most of our team are specialists in one specific thing, and we’re distributed across the world, frmo Singapore to the US. Most of the team have worked on high TVL projects, enterprise scale protocols, and demanding levels of work quality.
Some of the team helped to run well-known ICOs and projects during the precious bull run, coming from Consensys, Waves, NEM and other largee L1s and venture studios.
Star studded team, tbh
Gold Rocket | Satoshi Club: does it mean that you mostly work remotely? where is your office located? in the era of covid, many abandoned office work …
0xSPA | オラクル: Lol. Yeah. No office 😂
I don’t believe any ‘real’ teams are local right now. There is too much of a shortage of supply on the market, there isn’t enough talent. One must go far and wide to pick up the right contributors, right now
0xSPA | オラクル: Btw, the team doesn’t include the 45 contributors already on board, helping with nodes, building front ends and writing contracts. That’s the real army, right there
Gold Rocket | Satoshi Club: Thanks for the great intro! Do you want to add something or can we proceed to the questions from community?
0xSPA | オラクル: I believe the community questions are the most valuable, of course, let’s goooooooo
Many thanks for giving the opportunity to
participate in whitelist via the gleam.io contest to people who do not hold
launchpad tokens! True community spirit! Currently Orakuru has about 550,000
entries in the gleam.io form. How many do you estimate are unique real people
and will the chances of getting the allocation be higher than winning a
national lottery? 😉
0xSPA | オラクル: Well, each person is utilising around 20 entries, therefore you can probably divide that number by 20 to find the real number of entries. Of those, whom are bots, it’s really hard to say.
I would put it at a 1/15 chance of getting selected, dependent on how many entries you have. Still, far lower than the national lottery 👊
Gold Rocket | Satoshi Club: Thanks for clear answer. Do you want to add something or ready for the next question?😊
0xSPA | オラクル: I believe I answered theeir question, nothing more to add, just, good luck!!
Q2 from Telegram User @garrinepotter
Tell us how the oracle works and how wide a range of information it can cover? What have you created – is it just a transfer of numbers between exchanges and defi projects, or something more that can take root in the real world?
0xSPA | オラクル: Good question, I touched on this in the intro to Orakuru as a project.
We can take any API request, Ad-hoc, and pull it on-chain. Whetherr its a presidential result, the result of the World cup, a boxing match, you name it.
The core of Orakuru will be price feeds for now, because that’s what the market demands. They need accurate, timely price feeds, so a lot of effort is going into that, there.
How does it work?
It works similiar to a DpoS system, you can read the specifics in our whitepaper. We have multiple nodes, each node is scrapping real world data based on dApps demands. Those nodes stake $ORK. If they provide good data in good time, they get an APY reward, otherwise, they’re slashed.
This data goes into our averager contract, which pulls everything in, then shoots it of to the dApps.
That’s a super short explanation, but I think it gives the general gist and answers your questions
D. Папа Роуч: do i have to stake some specific amount of $ORK to run a node?
0xSPA | オラクル: Yes, we haven’t released the exact amount yet. However, all 30 node validators that have joined our discord were provided with community whitelist spots, in order to make sure they have the required amount, such that we can decentralise soon after launch
D. Папа Роуч: got it! thank you for answer! ready for the next question?
0xSPA | オラクル: Gotovo/Ready/Lets goooo🔥
Q3 from Telegram User @JoanaZ
Orakuru was created using the Binance Smart
Chain, but I just realized that you have and association with Huobi Global, so
are you planning to Integrate HECO CHAIN? what is objective of your association
with Huobi Global?
0xSPA | オラクル: Thank you @JoanaZ for your question. We don’t have any official association with Huobi, whatsoever, we also do not plan to integrate HECO Chain at all. Ehereum, Solana and Dot though 👀
Gold Rocket | Satoshi Club: 😁 oops
Gold Rocket | Satoshi Club: What other exchanges do you have in your plans?
Gold Rocket | Satoshi Club: if you plan of course😉
0xSPA | オラクル: I don’t believe we should speak about that pre-launch. It seems somewhat lame to only focus on ‘what exchange’ when we’re trying to build the future of 3.0. The exchanges will come. We’ll start with Pancake swap, which will be auto-liquidity provided through Kickpad
D. Папа Роуч: thank you for the answer! @GoldRocket27 do you have any additional questions? 👀
Gold Rocket | Satoshi Club: Tell us more about the activities for all members of Orakuru and Kiсkpad by the way
0xSPA | オラクル: Thank you for your question. Please may you elaborate? You want to know what every single member of Orakuru, and every single member of Kickpad does as an activity?
Gold Rocket | Satoshi Club: Three different whitelisting activities. For members of the Orakuru and Kickpad.
3) If you’re a contract writer, developer, designer, or you want to run a node, come join our discord: https://discord.gg/RKDB6pXV and there may be some whitelist spots available for you
Gold Rocket | Satoshi Club: thanks for sharing.
0xSPA | オラクル: 🙏.
Gold Rocket | Satoshi Club: Btw please share your tokenomics with us 😊
Gold Rocket | Satoshi Club: Thank you very much for your answers! Ready for the next question?
0xSPA | オラクル: Yes mam, please shoot
Q4 from Telegram user @Arisabela
Your Market Data Feeds aims to have a real
world usage in DEXs, prediction markets, insurance, lending and more, can you
tell us the advantages of incoporating your features in external dApps compared
to projects similar to yours?
0xSPA | オラクル: This is a great one, thanks @Arisabela .
There’s lot of ways to approach this, I’ll basically just list them off:
1) Data availability. The closest competitor to us, the native BSC Oracle ‘Berry data’, you can go to their site to see the amount of data feeds they provide. We will launch with roughly 5X that amount. Data availability and variety is the first key, and that’s why we’re able to scoop up so many partners before we’ve even launched.
2) Block times. We’re on BSC, that means the block times are far smaller, as low as 3 seconds. OUr friends on other L1s simply can’t competee with that for the time being. Ultimately, our data will be far more timely and accurate, as we’re able to send far more ofter (and for far less cost).
3) Data variety. AS mentioned in a previous question, we allow for ad-hoc, one-off requests. The weather in Paris, the results of a tennis tournament, and so on. The majority of the market will need this as more and more companies start to onboard into the 3.0
4) Product scaling, with EVFs and others (Random number generators etc…), which allow us to scale into new sectors such as games and gaming in general.
5) Averger contracts. We’re building ‘An oracle of oracles’. We’re keeping this hush hush for now, but I can explain the problem. You use Oracle X. Oracle X uses Kraken for it’s data source. One day, we see a 40% dropo in BTC on Kraken and a huge liquidation event on the margin longs, but the rest of excvhanges don’t see this. So what went wrong? Well, they only took one source, and they only took one Oracle.
—–
This is, in short, why we believe we’ll dominate BSC demand, and why we will be well poised to go chain agnostic soon after and take on the ‘big boys’.
🔮
D. Папа Роуч: awesome! thank you for the great answer! 👍
Gold Rocket | Satoshi Club: Thanks for your answer! In your roadmap, I saw that in the third quarter you are planning deployment of Orakuru’s Beta network. can we participate?
0xSPA | オラクル: Yes, of course, it’s open to anyone that wants to add value. We turn NO ONE away (Unless you simply can’t do it). If you can provide value, or run a node, we’d love to welcome you in.
Gold Rocket | Satoshi Club: Btw share your roadmap with us and tell us about the most significant moments for you please.😊
Well, every point on here is significant and important for our success. Utlimately it can be broken into 3 groups a) product b) governance c) ecosystem.
I think the highlights would be shifting to full DAO governance, decentralised onboarding of nodes (Very hard to do) and the move towards chain-agnosticism.
If we’re hitting those milestones, we’re doing something right
Gold Rocket | Satoshi Club: Thank you very much for the information! Ready for the next question?😊
0xSPA | オラクル: Davai, lets go ❤️
Q5 from Telegram user @meml97
I read that you said that upon launch, Orakuru
will launch it’s metacommunity, which will govern and operate the Orakuru, and
this will create a much faster pace of innovation and feature output. Can you
tell us more about this metacommunity, what it is and what makes it different
from “normal” communities from others projects? How will they be able to govern
and operate Orakuru? And how can someone join this metacommunity? Also, how
will they create faster pace of innovation and feature output?
0xSPA | オラクル: Woooooof my favourite question. Okay give me a minute pleasee
D. Папа Роуч: sure 😊
0xSPA | オラクル: What makes it different from normal projects?
Well, normal projects have a telegram that is completey overrun, with random mods that don’t really know about the project, and potentially, maybe, a Discord.
What we do is stack it much more similiar to Yearn, or Sushiswap.
Our telegram simply acts as a Q&A for newcomers, its not where the real work is done, thats all done in Discord.
Discord is owned and run by the community, with proposal ideas going to Discourse (A forum with voting) with the ultimate changes going to our snapshot.page.
This allows for the ‘metacommunity’, a community in and of itself, that hires and fires for itself, that decides on its own vision.
We are simply launching the project and guiding it in the right direction at the start. We are not as wise as the crowd, we do not have the power of the collective wisdom, only the collective has that. That’s what we optimise for.
How will it be faster?
Theres no HR, there’s no gatekeepers, there’s no management. If you can write us 10 Data feed contracts in 1 day, and you ask the community for $20k, and the community all votes yes, then you will get that $20k in 1 day if you deliver on the value. There aree no contracts, no bureacarcy, no middle-men. People are allowed to flourish, they’re allowed to try.
Moreover and most importantly, it’ll be the community decided which features are most needed and that we should go after. Our community isn’t just indiivduals, but large dApps, validators and ecosystem partners who udnerstand the pain points.
We just create a flexible ‘kickoff’ for all involved, that will manifest itself into a DAO.
Gold Rocket | Satoshi Club: Thank you very much for such a detailed answer! Ready to move on to the next question?
0xSPA | オラクル: Yes, let’s do it 🔥
D. Папа Роуч: sounds cool. very interesting approach you have 💪
Q6 from Telegram user @Winner_don
You said your oracle is starting with 7 nodes, and that Orakuru’s architecture for processing job requests is based on a Request-Event-Response. In the event of extremely high requests (which would surely happen), can the 7 nodes provide the volume of data needed on time and accurately? Can they respond on time? Do you have any plans on increasing the number of nodes? Both external and internal nodes? Any partnership plan and with who?
D. Папа Роуч: Dear community, we will open the chat soon. Please prepare your questions. Orakuru team will select 10 of them. Please remember the rules ❗️❗️❗️
-Only genuine questions will be rewarded. Copied questions will be disqualified
Read the rules here
(https://t.me/Satoshi_club/272142)-For Part 2 of the AMA, every user will be allowed to post maximum 3 questions. One message should contain maximum 1 question. If you post more than 3 questions, you will not receive the reward if selected. Thank you for understanding and good luck!😉
0xSPA | オラクル: First of all, great question. If you’re in this Telegram, please DM me, I’d love to talk further and collaborate.
In extreme situations, no. We will not be confident with only 7 nodes. The goal is 21 nodes for now, to reach sufficient decentralisation that can survive extreme loads. However, based on current dApps needs and BSC’s throughput, 7 will be more than enough at the start. Every single one of our 21 nodes will be ‘external’, controlled by some random person or entity on the internet )
Partnerships: We released the first 5 of like 20 or so backers yesterday. Clients, ecosystem partners, data providers we will continue to release post-launch. We’re finding that our IDO messaging is getting lost, so we’re trying to keep it clear for now. Also we want people to focus on the tech, like you are, and not just ‘wen binance’ / ‘wen partner’ 😂
Saying that, as you can see by success in marketing, we’re having thqt same success with partnerships
D. Папа Роуч: 😄👍 thank you for answer! the first part of our AMA going to its end! we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi Сlub members! 😉
Part 2 — live questions from the Telegram community
Q1 from Telegram User @K2ice
Can I still be a node validator on your platform
0xSPA | オラクル: The answer is yes! Come say hello in our Discord 🙂 https://discord.gg/RKDB6pXV
Q2 from Telegram User @boradam
As I see Orakuru’s Alpha network is live right now. What kind of data feeds does Alpha version consist right now
0xSPA | オラクル: Yup, as you can see live on our site, we have the price feeds, which shows proof of concept and is what we we scale on. Price feeds are integral to the dApps ecosystem, that’ll be our main driver over the coming months
Q3 from Telegram User @Pirry05Universe
What role do external nodes play for the Orakuru ecosystem? Are they essential for the continuous and smooth running of your project?
0xSPA | オラクル: They’re INTEGRAL, ESSENTIAL and one of the most important parts of the projects. Without external nodes, we will never reach decentralisation. This is somerhing we’ve been heavily focussed on
Q4 from Telegram User @highpee
You have allocated 40 whitelist spots to COMMUNITY CONTRIBUTORS. How will you select these contributors? Will it be based on interaction engagement on Telegram or its meant for Discord community?
0xSPA | オラクル: This is almost exclusively through the discord. These are only going to those that are contributing their time to development, amrketing, deisgn. Or those that weant to become node validators, and need help getting the right amount of ORK tokens to stake
Q5 from Telegram User @Xusuo
I think orakuru is great project, can you share with us how do we possible to get $ORK token? As I see its still not listing in exchanger?
0xSPA | オラクル:
We will launch our IDO on April the 8th, aat 14:00 UTC, with Pancake Swap liquidity getting added roughyl 2 hours after.
DO NOT BUY TOKENS BEFORE THEN, WE HAVE NOT LAUNCHED, ONLY USE OFFICIAL LINKS IN OUR TG
Q6 from Telegram User @mobilejii
✅✅have any audit been done of smart contracts of $ORK?Where will be the audit report available? How strong is your security measures adopted
0xSPA | オラクル: Yes, we have 3 audits by 3 individual auditing firms, for our token contracts and smart contracts, they’ll start dropping tomorrow
Q7 from Telegram User @KhaleesiTheCryptoLady
Please share us your social networking sites, where can we see your announcements and future events for Orakuru community?
Do you have any plans to attract non-crypto investors to $Orakuru and how? What are the actions to increase awareness around $Orakuru in non-crypto space. ?
0xSPA | オラクル: Nope, not at all. We don’t need non-crypto adoption, that makes no sense to us at all. We’re not B2C, we’re not selling a product. We need 15+ clients in the next 6 months to be considered successful, not 10000s of normal people. Our audience is dApps and infastructure, not inidividual humans
Q9 from Telegram User @yoyokey
DeFi is one of the hottest topics in the blockchain field. Do you think DeFi will destroy the existing financial system?
0xSPA | オラクル: Destroy, annihlate, demolish, revolutionise, take-over. You choose your facvourite adjective )
Q10 from Telegram User @kendal9153
I think you guys are doing very well! I just have a question related to the financial situation: Considering the bear market that has now lasted Orakuru some time and might continue to do so Orakuru even longer how is the Orakuru doing in terms of funding to be able to keep up the development of the product and introduce new partnerships Orakuru years to come?
0xSPA | オラクル:
Well, first of all, we’re in a bull market right now, not a bear market, lol.
Regarding funding, we’re good, we have great backers. Our Privte B round sold out on Kpad in 26 seconds.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Sparkleswap. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
