We were delighted to welcome our guest from Showcase. The AMA took place on April 16th, 2021 and our guests were @meir_bank and @rkora.
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 Showcase! Welcome to Satoshi Club😀
Gold
Rocket | Satoshi Club: Today our guests are
@meir_bank and @rkora !
Маry
Satoshi CLUB: @rkora hello😀
Reed:
Hey Satoshi Club! Excited to be here!
Маry
Satoshi CLUB: Hello, Reed👏
Gold
Rocket | Satoshi Club: We are also very excited
about the upcoming AMA.😊
Маry
Satoshi CLUB: How are you 😉
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi
Club!
Маry
Satoshi CLUB: Reed! Let’s start 🚀 Could you please introduce yourself and tell us more about Showcase😀 We want to know as much as possible about your project
Reed:
Absolutely. So I have a pretty extensive background
in graphic design, 3D, animation, motion graphics and video production for
publicly traded companies in New York/LA. I got into Crypto fairly early but
went full time in 2016 going to Bitcoin Meetups. Then it transitioned to full
time research in blockchain. My co founder entered the blockchain space in 2013
through Bitcointalk and was a mobile app developer. We met in 2018 during the
crypto winter and put our minds together to innovate the NFT space and that is
where Showcase was born.
Gold
Rocket | Satoshi Club: Amazing background
Gold
Rocket | Satoshi Club: What is the essence of your
project?
Маry
Satoshi CLUB: @meir_bank welcome here 😀
Meir
Bank: Hey guys, happy to be here!
Gold
Rocket | Satoshi Club: Welcome to Satoshi Club😊
Маry
Satoshi CLUB: So, you started Showcase in 2018?
Gold
Rocket | Satoshi Club: Introduce youreself please.
How did you get to be involved in crypto & Showcase?
Reed:
The essence of the project is a marketplace and
social app for up and coming influencers to offer unique NFTs to their most
dedicated fans – imagine something like Patreon but way better. The influencers
are invited to the platform, and we give them guidelines for using our in app
creator tool which has editing features enabling extensive creativity for their
NFT “Badges” as we call them. Furthermore fans can contribute to
their favorite causes through their influencers.
Meir
Bank: I got involved very early in crypto in 2013
on bitcointalk. Reed introduced me to NFTs and we saw the long term vision
years ago
Маry
Satoshi CLUB: Oh, Bitcointalk 😀 are you still there? I
think it’s a bit dead
Gold
Rocket | Satoshi Club: Wow! You have great crypto
experience, guys🚀🚀🚀
Meir
Bank: Not active anymore lol and one of my accounts
got hacked when the whole forum got hacked a long time ago. But yeah I still
have one my original accounts
Маry
Satoshi CLUB: I like this! Crypto Patreon will be
cool😀 It will be acc for memories 😂
Gold
Rocket | Satoshi Club: Your intro was great! but we
have questions from the community! ready to proceed? 😉
Meir
Bank: ready 👍
Reed:
Absolutely!
Q1 from Telegram User @JuanSB07
Showcase claims to be the “future of
social impact”, but to explain to me how and through what strategies will they
achieve to help social impact programs, grassroots activists, NGOs and
philanthropic organizations? What will the fundraising processes be? And why
have they decided to take this initiative?
Reed:
Yeah so that was the original foundation and idea
behind the project when we first thought about it. As a matter of fact we were
the first ones to even conceptualize this using NFTs. But a donation platform
alone was not enough so that is where the mobile marketplace idea came to play
and adding the influencer element to it furthers the interest of supporting
real world causes. This is particuarly a focus with GenZ and the upcoming GenA.
They want to make real changes in the world.
Gold
Rocket | Satoshi Club: This means that you are the
pioneers in this area! 👍
Маry
Satoshi CLUB: Are there any special sides or
industries which you are focused on? In simple words whom do you want to help
first?
Reed:
This is totally up to the influencers @madamlobster
– they have the power to market the causes they care about with their fan base.
So we are partnered with The Giving Block – it is one of the largest crypto
donation platforms existing, and they have over 100 NGOs connected. But users
can vote for or choose any cause they want and they can do all of this in app.
Маry
Satoshi CLUB: Thank you for clarification! Ready to
proceed to the next question?😀
Reed:
Go for it!
Q2 from Telegram User @AmirJosh
Down the line, stakers of the $SHO token
will be able to lock their token into a smart contract, generating Showcase DAO
tokens. Is it the only way to obtain DAO tokens, by locking $SHO? And what will
happen to the lock $SHO token afterwards? How to unlock it?
Meir
Bank: Users can stake their SHO on influencers, and
in return receive exclusive NFT drops. It is like a premium membership, we call
it OG status. There is also gamification and social rewards.
Gold
Rocket | Satoshi Club: Could you share some nft
please 😃
Маry
Satoshi CLUB: Which kind of gamification you will
have? Can you tell us more about this?
Meir
Bank: We don’t make the NFTs, influencers on our
platform can create them. We have hundreds signed up, you can see on our
website the types of creators we are targeting
Gold
Rocket | Satoshi Club: Thanks a lot for the
clarification👍
Meir
Bank: We are expanding the social media
functionality of the app, so it depends what type of social communication we
can able. For starters, you will be displayed as an OG user in the interface.
Perhaps there will be some opportunities to communicate with creators, or to
join exclusive chat groups, etc
Маry
Satoshi CLUB: Gotcha 👍 thank you for your answers! @GoldRocket27 do you
have any questions?😀
Gold
Rocket | Satoshi Club: By the way, share your
tokenomics please )
Reed:
We will be releasing our Tokenomics with the
DAOmaker announcement – please stay tuned to their updates!
Маry
Satoshi CLUB: We will be waiting for your
announcment 😉 Do you have approximate dates
for this?
Reed:
Yes this week!
Маry
Satoshi CLUB: Awesome 🎉🎉🎉
Gold
Rocket | Satoshi Club: So! Ready for the next
question?😊
Reed:
Go for it
Q3 from Telegram user @meml97
Showcase wants to have a Social Impact
by helping programs, grass roots activists, NGOs and philanthropic
organizations. So, can you tell us how will Showcase make that happen? Also,
with what programs and philanthropic organizations will you work with? Can
users decide to which one of this causes are their inputs going to?
Маry
Satoshi CLUB: Some parts of this question already
covered 😀
Reed:
Yes, so I think I covered this from a prior question
but we will be integrating “The Giving Block” into our platform which
has over 100 NGO partnerships this will be lead by influencers and their fans
Маry
Satoshi CLUB: It’s huge!
Gold
Rocket | Satoshi Club: Would you like to add
something to the answers? Or can we proceed to the next question😉
Meir
Bank: I will add that influencers can choose which
organizations to contribute to.
Маry
Satoshi CLUB: Oh, that’s great! 🎉
Q4 from Telegram user @Jonahapagu
In one of your articles you said that in
the near future Showcase will be conducting a one-off NFT generation event,
whereby a Creator from Showcase will be conducting a live streamed performance
artwork event which will then be turned into an NFT and sold with the proceeds
going to a charity from The Giving Block… can you explain how and when you
intend to conduct this event, how do you determine which creator does the
performance, and what progress have you made in regards to the conduct of the
event
Meir
Bank: Yeah we plan on doing an NFT generation
event. The exact details might change, we are talking to a few influencers
about the possibility of doing this and seeing which one is best aligned.
Маry
Satoshi CLUB: Someone already agreed? Sure, a lot
of people want to me immortalised in NFT😉
Reed:
Yes – we have many influencers already aligned with
us actually. Some of our early strategic partners also have introduced us to
some for this particular reason.
Маry
Satoshi CLUB: Can you tell us who are your main
strategic partners?
Meir
Bank: For users in our app we are targeting
micro-influencers, creators with 10-100k followers, because they are the ones
who need help monetizing. You can see a selection on our website. For the NFT
drop we want it to be someone special.
Reed:
We were one of the CoinList season 3 selected
projects so we have investors like the co founder of Blockfolio, Babek Nivi
from AngelList, BlockTower, AU21, Moonrock, LD, GBV, and many more to be
announced.
Маry
Satoshi CLUB: Very good investors, i need to say😉
Gold
Rocket | Satoshi Club: Thank you very much for the
information and answer! ready for the next question?😊
Meir
Bank: Ready!
Q5 from Telegram user @Raisbelys
Could you give me more details about the
showcase application? Will this application be available for both android and
IOS without restriction in some countries? How does the collectible badges
mechanism work? What can you do with them within your application?
Meir
Bank: Yes it will be both iOS and android. There
will always be some countries with restrictions, for instance even facebook
can’t get into China, but we are working to integrate international payments
and make it as global as possible. The Badge mechanism is an NFT mechanism, we
just call it badges for ease of us. You can purchase, display and trade them in
the app.
Маry
Satoshi CLUB: When it will be released? Btw, do you
have desktop version?
Meir
Bank: Our target for public release is Q3, with
private testing before then. We have recently expanded our dev team working on
it
Gold
Rocket | Satoshi Club: Thanks for the answer. What
markets, besides China, have you already covered?
Meir
Bank: No desktop version. The app is designed for
normies, with fiat payments, slick UI, social media, etc. We will
announce that closer to launch, definitely US and several other major markets
Маry
Satoshi CLUB: This will be hot summer🔥🔥🔥Got it😉 Thank you for your answers! Ready for the 6th and last question from
this part?
Meir
Bank: Yes ser
Gold
Rocket | Satoshi Club: 🚀
Q6 from Telegram user @cryptofollower
Right now influencers are trying to make
money with donations/subscriptions and sponsored posts. With Showcase, you are
creating a new way with connecting influencers and fans together with NFT’s. Do
you think NFT’s are the best way for this? Also there are NFT marketplaces like
Opensea. Do you plan to compete with them?
Meir
Bank: Yes we think NFTs are the superior way.
Donations offer no value to fans. Sponsored posts degrade the content feed of
creators and are not enough for micro influencers to make a living off of. We
plan to integrate with Opensea, where they are the Amazon of NFTs we are more
like the instagram.
Маry
Satoshi CLUB: It will be great to see Amazon and
Insta cooperation 😉 So, you will be more like
insta and patreon mixture 😀
Meir
Bank: Yes. Like a virtual teespring also
Маry
Satoshi CLUB: Which incentives will your early
users have? Do you plan any airdrops or bounties?
Reed:
Yes we do and this will be announced by following
our Medium Blog, TG and Twitter!
Маry
Satoshi CLUB: Super🎉🚀 Satoshiclubbers,
join Showcase social media 👍
Part 2 — live questions from
the Telegram community
Q1
from Telegram User @Ambbobb
Presently,
the community is used to physical merchandise, how quickly do you want this to
happen with the help of NFT technology?
Reed:
I personally believe in the next several years you
will see more and more people collecting digital goods. Take a look at some of
the projects like NBA Top Shot for example. Adoption happens sooner than people
expect.
Q2
from Telegram User @Jonahapagu
Showcase is one of Matic’s Build-n-Earn
grants and funding recipients, How did this grant help in the building of your
project what were the funds used for, what were the main deciding factors that
made you decide to build your project using the Matic chain..was the receipt of
this Grant the main reason or would you had considered other options if you had
not received the grant..
Meir
Bank: Good question. When we started there were
several options for scalability, it was earlier before the gas crisis happening
now. Some of those options didn’t pan out. Luckily we chose Polygon (formerly
Matic) because we trusted their team and hard work ethic. We’ve gotten a lot of
help on the dev side as well. And the small grant did help during the bear
market to cover some expenses. We’re really glad to have made the right choice
as now Polygon has a large NFT ecosystem and smooth bridge to Ethereum.
Q3
from Telegram User @centoscu
Beside of connecting influencers and
fans together with Badges (NFT’s) do you plan other activities like maybe
organizations or concerts?
Reed:
Yes and hopefully post-pandemic!
Q4
from Telegram User @Beterror203
You say qeu Showcase is a social
platform where content creators interact with their fans and at the same time
have indirect contact but in a form of marketing promovandoce with gifts to
collect limited edition NFT badges, my question how these unlimited badges are
created if I am an influencer and have my special fanaticada, these badges can
be sold where only monetizes and earns the content creator and not the fans?
Reed:
The fans of course benefit based on the value of
the exclusive NFT they hold, they also gain further benefits than just the NFT
value itself such as interactions with the influencer and more stuff that we
will announce later on.
Q5
from Telegram User @Sattyaboti
What do
you think about the boom of the NFT + DeFi association that is causing so much
interest in the world? How does Your project take advantage of and exploit this
reality?
Reed:
We are using UMA and other DeFi platforms like
Benchmark as technology partners integrating the latest DeFi utilities. You can
follow our Twitter for updates on that after TGE.
Q6
from Telegram User @testercoin
As I see on your visuals you are giving
content creators a tool to create badges. Are there any tools on your system
for detecting copyrighted content? If a creator uses a copyrighted content for
its custom badge, can that lead problem for Showcase? How can you overcome this
problem?
Meir
Bank: This is one of the reasons our platform is
invite only. If a creator abuses the platform by using stolen artwork we will
be able to ban them from the app. In crypto terms you can think of it as a
whitelist of addresses able to use the application.
Q7
from Telegram User @Francis_Quinjel
As you know Covid-19 has a large impact
in the crypto Market, So How can your company maintain its project and also the
team that are working hard during this pandemic?
Reed:
It has actually increased the amount of remote work
happening and more and more people are trying to earn revenue online – the NFT
is the perfect solution.
Q8
from Telegram User @sharper112
Too many projects promise magic but
never release any working product or prove any revenue, Within a short/long
time of release. Is your project also like this? If not can u tell us, What
makes your project different from other projects?
Reed:
Showcase is a mobile application – with the name
and branding that people understand. You need a way to display your NFTs and
you need a name that people understand – hence why we call it Showcase – like a
display case for your NFT collections but mobile.
Q9
from Telegram User @alyaakin
You said people can stake their SHO
tokens on influencers and can get NFT drops. Can every influencer provide
airdrops of their NFT’s?
Meir
Bank: Yes, influencers choose the price of NFTs and
can airdrop NFTs to users who stake on them. They are in fact incentivized to
do this as they receive SHO rewards when more people stake on them.
Additionally these drops can be very rare and fans who are not OGs may be
interested on the secondary market.
Q10
from Telegram User @dudeiebitch
Hey, about the incentives you plan to
do, you talked about selecting a random winner to receive 3000$ in sho and the
runner up to win $1500 in sho. Actually you only talked about selecting a
random winner but you did not specify the task that should be done, i will like
to know the requirements to get qualified.
Reed:
This was early on and only those who properly
filled out the forms.
Part 3 – Quiz
Results
In the final part we tested your
knowledge in terms of Showcase.
They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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 Porkswap and our guests was
@Crypto_Financier. The AMA took place on 15 April.
The
AMA session was divided into 3 parts with a total crypto reward pool of 2000$
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 Porkswap! Welcome to Satoshi Club😀
D. | Satoshi Club:
today our guest – @Crypto_Financier !
hello! thank you for
joining us!
Crypto Financier | Never DM First: Hi, thanks for having me here
Mary | Satoshi Club: Hello! Welcome to Satoshi Club 😀
How’s going?
Crypto Financier | Never DM First: Thank you, It’s going very well, we’re in midst of
our pre-sale that is live at Unicrypt
D. | Satoshi Club:
nice! how is presale going?
Crypto Financier | Never DM First: 23.8% so far, we’re about to hit our Softcap of 750
BNB
Mary | Satoshi Club: It’s the most exciting event in every project life!
D. | Satoshi Club:
i see you already raised 643 BNB, good job👌
Crypto Financier | Never DM First: Hahaha indeed, adrenaline, aha, joys, and oh shits
Mary | Satoshi Club: Congratulations! Sure, you will reach hardcap😂
Crypto Financier | Never DM First: Yess, thanks for community for believing in our
mission
Hahaha, yeah we’re very
confident that we’ll reach hardcap for sure
Mary | Satoshi Club: And let’s start our AMA! I think more people have
to know about PorkSwap!
Could you please
introduce yourself and tell us more about PorkSwap 😀
Crypto Financier | Never DM First: Yes I can see 15K members online which is amazing
A bit about myself,
I’ve been early adopter of crypto since early 2013, since the adys of mt gox if
anyone remembers.
I’ve been following
many projects since, and made lose good capital during last bull run of 2017,
but given the traction it’s way more powerful than what it was during 2017
I felt that we need to
bring more and more current financial products in decetranlized fashion so I
came up with the idea for Porkswap, and I am responsible for the direction and
bringing quality talent to the team.
D. | Satoshi Club:
cool! can tell us a bit about your team?
Mary | Satoshi Club: Oh, mt gox😂 it’s sad and legendary event
Crypto Financier | Never DM First: Yeah sure, we’re global team of open-source and
crypto currency ethusiasts that believe in mission of democratizing access to
finance
We’re working with
outsourced engineers and firms paid 5 figs per month to bring this project into
reality
D. | Satoshi Club:
are you hiring? maybe you are looking for new people? 😉😁
Crypto Financier | Never DM First: We’re hiring like crazy, we follow the same
principles that are written in Blitzscaling book from Reid Hoffman
Mary | Satoshi Club: Where users can apply?
Crypto Financier | Never DM First: Blitzscaling keeps speed above everything let it be
efficiency or certainty
They can reach out at
team @ porkswap. finance for application
Nice protection haha,
wasn’t able to write it together
Mary | Satoshi Club: Thank you! Our bot is a bit crazy😂
D. | Satoshi Club:
yep, sorry for this, our bot is kinda broken at the moment ☹️
Mary | Satoshi Club: That’s problems from combot side🤷
Crypto Financier | Never DM First: No worries, it’s very good thing to have
Mary | Satoshi Club: And tell us now about main concept of PorkSwap 😀
Crypto Financier | Never DM First: Yeah sure
Speaking in layman
terms, PorkSwap is trying to bring current financial products in decentalized
fashion
Spot trading being hot
across every major DEX like Uniswap, Sushi, Pancake and so on.
We believe the De-FI
has more to offer than what it is right now
Our key deliverable is
to bring instant, secure and cost-effective spot swapping, along with that
introducing current financial derivatives called futures with margin trading to
leverage the orders to increase chance of making or sorry to say losing massive
profits
Mary | Satoshi Club: That’s really a cool mission, we need more
financial products in DeFi space😀👍
Crypto Financier | Never DM First: Yeah that’s our main mission
Mary | Satoshi Club: And let’s go to the details?With the questions from
our community?
Crypto Financier | Never DM First: Lets gooo
Q1 from Telegram User
@cengizhantekin
We are used to see food or animal names with crypto
projects. So, why have you preferred Pork? Is there a specific reason or
message that might empower the project concept? Additionally, Pork is not liked
in some religions; do you think this can affect some part of community
negatively and result lower demand on your project?
Crypto Financier | Never DM First: Very good question, it was very funny on how we
came up with the idea. As you said food names in crypto projects are very hot,
this was one of main reasons. And since pig is related to money and finance
through piggy bank, we aimed to choose it
But, this is good idea,
I will put this our on our Governance platform to see whether community wants
to change the name
Mary | Satoshi Club: I like your name! But let’s see how your community
will vote. Btw, your Governance platform already working? If no, when it will
start to work?
D. | Satoshi Club:
haha interesting origin of project’s name🙌
Crypto Financier | Never DM First:
Currently it’s under
development, and will be live on May 3rd 6pm UTC.
Here’s the sneak peek:
Mary | Satoshi Club: But users can give proposals? Or also after launch?
D. | Satoshi Club:
and to be able to vote, holders should stake some amount of $PSWAP?
Crypto Financier | Never DM First: Yes, they can propose and vote after the platform
launch
They should hold $PSWAP
to vote
One of utilities of
$PSWAP is governance
D. | Satoshi Club:
got it! thank you for the answer! ready for the next question?
Crypto Financier | Never DM First: Yesss lets go
Q2 from Telegram user @nadee5
PorkSwap a new project with decentralized spot and
futures trading platform on Binance Smart Chain…How is Porkswap differ from the
current trading platforms? Instead of trading platform, you are using spot and
Futures trading platform ? Why? How is spot and futures trading differ from the
traditional trading? Please clarify this..
Crypto Financier | Never DM First: Sure, I believe I will go and explain Spot vs
Futures so it’s clear
Spot and futures are
both financial products that are currently available in FIAT markets.
Spot generally means
buying and selling just like what you do on any DEX or centralized exchange.
Futures is derivate of
spot which means it’s derived from spot and uses spot price to create contracts
that parties agree on buying / selling in future i.e 3 months
We’re different that
we’re bringing futures in decentralized fashion to De-Fi space
Mary | Satoshi Club: Do you have any competitors now?
Crypto Financier | Never DM First: Nothing in futures space we know, but in spot we’re
in direct competition with Pancakeswap
D. | Satoshi Club:
so what about the source of project? are you using some forks or codes of other
popular projects like Uni or Pancake, or you building your project from
scratch? in technical terms
Crypto Financier | Never DM First: Well if you take Pancake it uses Underlying
protocols of Uni
We’ll be using Uni’s
protocols for our spot smart contracts since we’ll also be powered by AMM.
We’ve been implementing
Uni v3, with TWAPs ( time-weighted average price ), to fight against
manipulation
In terms of futures,
it’ll be developed from scratch from our engineers, and will use spot pricing
are input to futures pricing oracle
We’ll be support
pepetual futures contracts just like what you buy at Binance, Kraken or BitMex
Mary | Satoshi Club: What about oracle? Which one you will use?
Crypto Financier | Never DM First: We’ll need to create custom pricing oracle, that
will have inputs from spot pricing, trade volume, long short positions and so
on
Mary | Satoshi Club: Thank you for your answers! To continue this topic
we have next question 😃
Ready for it?
Yesss
Crypto Financier | Never DM First: Born Ready!
Q3 from Telegram user @Highpee
PorkSwap will implement an additional function of
futures/leverage trading in addition to spot trading feature. Since future
trading is more about betting against pricing, this means that there is need
for you to adopt a reliable pricing oracle. I have read that you will be
creating a Customized oracle on Binance Smart Chain to fetch real-time pricing.
How will this oracle be operated? How is it designed to be interact with
centralized and decentralized trading platforms in order to generate a
trustless and trustworthy data which cannot be manipulated by the protocol or
futures traders?
Crypto Financier | Never DM First: Very interesting question, as I mentioned earlier
our pricing oracle will mostly be relying on our spot price, and given that
we’ll be support perpetual contracts, the oracle will need to keep futures
price as similar as possible to that of spot. In terms of trustless and
trustworthiness since our protocol is all decentralized it’ll be trustless by
default.
Just commenting on the
CEX part, we’re still revisiting that area, it might make sense to launch for
first few months of operations until our spot platform is solid enough!
D. | Satoshi Club:
what functions of your platform will be available for users after launch?
Crypto Financier | Never DM First: The functions will be as follows:
-> Governance
-> Spot Trading
-> Liquidity Mining
-> Staking
-> Futures Trading
-> Lottery
D. | Satoshi Club:
nice! even lottery 😁
it will be working like
on pancake?
Crypto Financier | Never DM First: Hahaha whatever it takes to multiply the profits
Pancake does it
differently through random numbers, we’re aiming to do it via pot distribution
Mary | Satoshi Club: I always wanted to try such features on the dex,
but fees were killing all my desires😀
Crypto Financier | Never DM First: Don’t worry, it’ll be amazing at our platform
But we do charge share
in earnings, that will be used in buying back and burning tokens
Mary | Satoshi Club: How much?
Crypto Financier | Never DM First: That’s something we haven’t finalized yet, it’ll be
polled at Governance platform
I wish I could have
given you discounts @madamlobster haha
Mary | Satoshi Club: Got it😉 when it will be ready please share
with us! And yes, i like discounts! Thanks!
Ready to go to the next
question? Or you want to add something?
Crypto Financier | Never DM First: We’ll kickstart with Governance on May 3rd
Then we’ll launch our
Spot trading by end of May or start of June
We’ll finalize the date
as we get near
Then we’ll add the LP
token mining to earn rewards, and then the might futures that we’ve been
bragging about
and finally loterry
where @madamlobster you’ll try your luck haha
Mary | Satoshi Club: Sure😂
D. | Satoshi Club:
[ Sticker ]
thank you for answers!
let’s go to the next question! 🚀
Crypto Financier | Never DM First: Lets go
Q4 from Telegram user @NataliyaKil
Governance Platform launching will take place in 15
days! Congratulations!
But I have a question. What are the functions and
features of the platform? Who will be able to take part in the management? What
questions and proposals will be put up for voting?
D. | Satoshi Club:
we already discussed it a bit 😄
Mary | Satoshi Club: But may be we missed some details 😉
Crypto Financier | Never DM First: hahah yeah indeed, just copy pasting snippet from
website:
You’ll be able to vote
for:
Change in underlying
protocol
Change in pricing
oracle
Change in futures
funding rate
Change in platform fees
Change inlist/de-list
tokens
Propose new features
D. | Satoshi Club:
do you planning any events for community? as i’m aware of you have special
airdrop program for pancake users?
Crypto Financier | Never DM First: Any $PSWAP holder can take part, and functions will
be to make our platform the best of its kind
We’ll be keeping
various inputs as variables so that they’re changed later on with governance
Crypto Financier | Never DM First: Yes, we do have airdrop but we’ll be distributing
tokens later after public listing to avoid any dumps
D. | Satoshi Club:
that’s smart 😉
Crypto Financier | Never DM First: thanks! 🙏
Mary | Satoshi Club: Yes, thus happens, but Pswaps are so tasty😂
Crypto Financier | Never DM First: Hahaha high in protein so healthy
Mary | Satoshi Club: Hope users will not dump them😉
Crypto Financier | Never DM First: Yeah if they want their portfolio to be healthy
then they gotta hodl it
Mary | Satoshi Club: Thank you for your answers!
Ready to go to the
next?
Crypto Financier | Never DM First: Born Ready
Q5 from Telegram user @johana0012
As we well know PSWAP has a fixed supply of
1,000,000 tokens that will be used for the governance and rewards of the
platform. How is this tokenization distributed? Do you have reserved tokens for
bug bounties, white hat hacking? What fraction of the supply is destined for
marketing campaigns?
Crypto Financier | Never DM First: If you clearly look into our tokenomics you’ll
realize we’ve kept whooping 10% of our allocation to such efforts in pursuit of
bring message to the masses and also keeping up with security of our platform
A snippet from our Lite
paper
Mary | Satoshi Club: Btw, which is the price of token on Sale?
Crypto Financier | Never DM First: We’ve kept it in BNB so
1 BNB = 55.55 PSWAPS ~
$10
The listing will be:
1 BNB = 38.8 PSWAPS ~
$14.17
Can know more here:
https://unicrypt.network/amm/pancake/ilo/0x29A3FF2393f80e200a30C9aA7d42f5B6cED0f976
D. | Satoshi Club:
so better buy now, if you like and believe in the project 😉😇
Mary | Satoshi Club:So, min around 1.4$ for bounties etc😀
I like shopping😂
Crypto Financier | Never DM First: Hahaha I can imagine
Mary | Satoshi Club: No, you can’t 😂😂😂
So, i hope i will be in
time
Crypto Financier | Never DM First: 100% agreed, we’re seeing alot of traction, people
are loving it given we’re in direct competition with Pancakeswap
Mary | Satoshi Club: And one more question 😀
Crypto Financier | Never DM First: and we’re aiming to be one of leaders in BSC, and
do around $200-300m trade vol / day
Mary | Satoshi Club: What about your platform security? Can we sleep
tight?
Crypto Financier | Never DM First: Lets go
D. | Satoshi Club:
[ Sticker ]
Crypto Financier | Never DM First: Hahaha, of course, it’s not just your sleep
It’s mine as well, given
we’ve so much at stake as well
In terms of security
every feature has 15-20 unit test cases against it to ensure it behaves
properly
After that we perform a
symbolic execute to map the function calls
Lastly we perform
static code analysis using available tools
And the very end, we’ll
be having a audit of smart contract from Consensys, TrailOfBits or Certik
Given we use some of
TrailOfBits tools so they’ll be our ideal choice
D. | Satoshi Club:
awesome! and you already have audits from Chainsulting and Solid 😎
Crypto Financier | Never DM First: Yes we do have, this is for our $PSWAP token
we’ll have alot more
for our underlying protocol
D. | Satoshi Club:
thanks for the great answers! ready for the last question from part 1?
Crypto Financier | Never DM First: Yessss
Q6 from Telegram user
@RosemaryBianco
Speaking of leverage in PorkSwap, you mention that
within tokens available to leverage are ETH, Wrapped BNB, ADA, BUSD-T, DOT,
XRP, UNI, LTC, LINK BCH and USDC. My question is, as time goes by, will they
integrate more tokens that can be placated? What is the maximum leverage that
users can use within PorkSwap?
Crypto Financier | Never DM First: Our max leverage is 5X, given that there will be
more demand than supply so we’re aiming to keep it low as possible
As the time goes by,
we’ll be developing protocol it a way that it’ll support leverage for any spot
pair
Which means if you
create a pair, lock liquidity and pair gets traction
You can leverage it
D. | Satoshi Club:
thank you! i think we done with the first part of our AMA and ready for the
second? 😊you can share with our community some useful links before we
open the chat😇
D. | Satoshi Club:
oh you even working with TEAM?nice guys
@Crypto_Financier we
will open chat for 2 minutes, after chat will be closed – you can start select
questions from Satoshi Сlub members!
Crypto Financier | Never DM First: Yeah we need to be as transparent as possible
Lets goooo
Part
2 — live questions from the Telegram community
Q1 from telegram
username @Eminet001
buying $PSWAP at the moment to hold in long term is
it advisable from your point of view.
?
Crypto Financier | Never DM First: Yes super advisable, as I said we’re in direct
competition with Pancakeswap and aim to be doing $100-300m trade vol / day
Will be bring 0.3% in
revenue from spot along
and 3% from futures
profit
along with some fees
from lottery
this will be used to
buy back and burn token, so if advise means price appreciation then it’s gonna
happen for sure
Q2 from telegram
username @highpee
PorkSwap will implement an Insurance Fund policy
which will cover liquidity providers in case of impermanent loss. This is a
welcome development as IL is a major problem faced by LP providers. However,
from your token distribution, no token is reserved for insurance. How will the
insurance fund be sourced and who will manage it?
Crypto Financier | Never DM First: We’ve 50% of token reserved as LP incentives, which
can be used as insurance of LPS, also the platfrom revenues is also collected
in a insurance pool to fight against impermanent loss, and delayed liquidation
in margin trading
Q3 from telegram
username @JoxesIII
Currently your leverage is X5 which is conservative,
do you think that with the growth of the platform and liquidity, the leverage
can be increased in the future? and can you detail these liquidation risks ???
Crypto Financier | Never DM First: Yeah if we;ve enough liquidity in our leverage pool
then certain the leverage can be increase since we’ll have some unused funds
sitting there.
The liquidation risk
for margin trader is that one will lose almost his entire trade lot, if he
reaches liquidation price
Q4 from telegram
username @JoanaZ
PorkSwap
decided start with BSC to become an “AMM leader” on this network, but
currently there exists so many good AMMs on this chain, like SushiSwap and
PancakeSwap, so can you tell us what are your “weapons” to affront
them a be the first option to traders?
Crypto Financier | Never DM First: Since we only have Pancake at BSC, so we’re in good
possible to fight, our unique offering is margin trading along perpetual
futures contracts
Q5 from telegram
username @OmicrinPersie84
Do you have a specific plan to tamper the effect of
whales onto the swapping of spots?
Crypto Financier | Never DM First: This should be done using TWAPs
Q6 from telegram
username @joshb123
How different are you from bogged.finance, and is it
an issue that they are already up and running in terms of market share?
Crypto Financier | Never DM First: Bog has different offering they’re more in
providing Limit orders for Pancake, we’re AMM ourself
Q7 from telegram
username @Ratash99
There are many disadvantages with future trading
such as leverage isues since sometimes there is a fast movement of future
prices how would you solve this problem ?
Crypto Financier | Never DM First: Our pricing oracle should be able to sustain such
movement, since spot prices are updated on each trade, so every trade will
trigger and event to our oracle to reposition itself
Q8 from telegram
username @centoscu
There is a private key on your smart contract. Who
has it and who manages it? Isn’t it a security breach?
Crypto Financier | Never DM First: Yes, our wallets are 2-of-3 multi-sig, where each
wallet’s mnemonic is splited using Shamirs secret spliting
Q9 from telegram
username @dudeiebitch
You said in you tokenomics that 100,000 tokens will
be reserved for bug bounty, white hat hacking, airdrops, and marketing
campaigns. I will like to know when you plan to start the white hat hacking and
how will the eligibility be like.
Crypto Financier | Never DM First: We’ll be launching it at Github, right before
applying for audit
Q10 from telegram username @Indomiekuy
As a DEX trading platform, can you tell us how is
the calculation transaction fee for every trade that happen in PorkSwap
platform? And i read you will also have buyback and burn token, can you
describe what will trigger buyback and burn for your token, and how much of
token will be burn?
Crypto Financier | Never DM First: Our fees are 0.3% per spot trade our of which 0.05%
will be used to buy back
Also 5% profit cut in
futures, out of which 3% will be used to buy back
and 2% insurance fund
Q11 from telegram
username @alyaakin
Could you please talk about the team who are
developing the Porkswap. Did you work before together or are you a global team?
Crypto Financier | Never DM First: We’re global team of open source ethusiasts,
currently we’ve onboarded some of high qualit talent, that costs us 5 figs /
resource every month
Then later, we will
open source our protocol to attract open source contributors
Q12 from telegram
username @Xusuo
I see that PorkSwap still on early stage, can you
describe about PorkSwap team and about some of their background? Are your team
anon or public, and how do you convinced people that your platform are safe to
use also have no error and hacks issue?
Crypto Financier | Never DM First: Our team is been playing in crypto space for quite
long, and have been part of some crypto companies
We’re not anon we’re
kyced and will make our team public in next few hours!
Q13 from telegram username @Smartling
questions deleted by user
Crypto Financier | Never DM First: We’re planning it to be end of May or max start of June,
You can always follow
our public group for annoucenments
Given we’re going to be
powered by TWAPs and some more manipulation attack prevention
We need some time to
finalize the contracts
Q14 from telegram username @Csgonub
You told here you are following same principles in
Blitzscaling book from Reid Hoffman. Can you share some of those principles
with us?
Crypto Financier | Never DM First: Yeah these princiles where exactly what made
Airbnb, LinkedIn, Microsoft, and Facebook what they’re today
Blitzscaling is all
about keep speed above everything let it be certainty or effeciency
You’ll need to make
decisions, and make them fast, there will be loop holes, some things wont be
part, but you let it be to never stop you from moving forward
This is how AIrbnb took
over it’s greatest European rival in room sharing space!
It’s a must read, we’ve
been using it and loving it
Q15 from telegram username @ShaliPon
Why do you think that it is now time to hold $PSWAP?
Crypto Financier | Never DM First: I think it’s time to hold because PSWAP is long
term, as soon as your platfrom goes public,
it’ll have great
traction and then will be one of market leaders
as our token nature is
deflationary we aim to burn alot making it very scarce
Just to let you guys
know Pancake prints 750,000 CAKE everyday!!
We aim to burn like
that
We never know there will be time where PSWAP will be worth 4-5 figs
Part 3 – Quiz Results
As usual, for the third
part, Satoshi Club Team asked the chat 4 questions about the crypto project. A
link to a Quiz form was sent into the chat.
For
more information and future AMAs, join our Social Media channels:
Educational task of Satoshi Club
drives us to acquaint you with all new projects. We were delighted to welcome
our guest from Decus. The AMA took place on April 12th, 2021 and our guests were @Blake_BB
and @Sunny0928.
The total reward pool was 500$ 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
Gold
Rocket | Satoshi Club: Hi there Satoshi Club! We conclude
our today’s long AMA marathon series
with DeCus.io.
Andrés
M. | Satoshi Club: @Blake_BB and @Sunny0928 welcome
to Satoshi Club
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi
Club @Blake_BB and @Sunny0928!
Sunny@DeCus:
Hi guys
Blake@Decus.io:
ah there we go. Lol. we werent
able to speak there for a moment. glad we got our voices back
Andrés
M. | Satoshi Club: Sorry for that, how is going
your day guys?
Blake@Decus.io:
Glad to be here….we are with
DeCus…..cross-chain BTC pegged platform
Sunny@DeCus:
Happy to have the chance to introduce DeCus to you
all
Blake@Decus.io:
no problem….i think you guys have had a long
day…..many AMAs I see…..but glad that you saved the best for last lol. OK. sure
Sunny and I are both in Charge of International Marketing for Decus
Decus.io
Andrés
M. | Satoshi Club: The cherry in the cake 😁
Blake@Decus.io:
Which, as I mentioned is a cross-chain solution for
bringing BTC into the DeFi space. with our eBTC. we will get into that
more in a bit, I suppose
Gold
Rocket | Satoshi Club: this is very interesting …
please tell us more
Sunny@DeCus:
We have been working in this crypto space for over
5 years.
Blake@Decus.io:
Yes, so our platform is similar to projects you may
have heard of like RenBTC or tBTC WBTC, but our platform is fully
decentraliized and MUCH MUCH lower collaterizaton rates
Andrés
M. | Satoshi Club: How did you get involved in
crypto?
Blake@Decus.io:
for RenBTC or others, you will be looking at
collateralization rates of 150% or more…but with Decus, we knock that down to
30-50%…eventually down to 20%! say it with me: “Game changer!”
Sunny@DeCus:
Game changer!
Blake@Decus.io:
well done…..sorry i forgot Sunny is the only one
alllowed to speak lol
Andrés
M. | Satoshi Club: Wow
Sunny@DeCus:
It’s a short story. From buying bitcoin, lol
Blake@Decus.io:
but I know the rest of you were all saying it in
your minds so that is good enough for me
Gold
Rocket | Satoshi Club: it sounds stunning😁
Blake@Decus.io:
But, speaking of the team….our team is made up of
top scholars from top universities
Andrés
M. | Satoshi Club: Well, we are here to know all
about Decus 😁 How big is your team?
Blake@Decus.io:
Our core developers are all top scholars
from Tsinghua University and Peking University. Like the Harvard and Stanford
of China
Sunny@DeCus:
By looking at the background of our team members,
you will definitely know that something excellent will be done by us.
Gold
Rocket | Satoshi Club: How long does it take to
develop Decus? What plans do you have for the future?
Blake@Decus.io:
In fact the platform is able to achieve such low
collateralization rates because of the phd work of our Dr. Guang Yang, well,
looking forward, after eBTC, which is aimed at bringing BTC to the ETH DeFi
ecosystem, we can then replicate that on other chains, like BSC, HECO, Conflux,
etc. that is the longer term plan
Andrés
M. | Satoshi Club: Thank you so much for the
detailed introduction about the project We have collected some
community questions. Are you ready to proceed?😃
Blake@Decus.io:
OK, great. Sure. Ready, Sunny? we’re ready when you
are
Q1 from Telegram User
@Korryl
I see that Decus Project already have
many big project as partner like FBGCapital, SevenXVentures, PuzzleVentures,
BreederDodo, Conflux_Network, dForcenet, and hiFramework also more. Can you
tell us what is the biggest achievement that Decus get from partnership and
what are criteria to become one of Decus partner?
Blake@Decus.io:
OK, I’ll take this one, Sunny
Sunny@DeCus:
OK
Blake@Decus.io:
Yes, these are all our key partners…..I think
some of the biggest things they have given us is their technical
expertise…but also their network of contacts
Sunny@DeCus:
I’m also ready
Blake@Decus.io: but, really, in addition to these, we have a vast network of Bitcoin miners in China that are backing us. This is very important, not only because our platform relies on BTC being deposited, but because these BTC miners are very powerful and have vast resources of their own that can assist us. i think that should do it for that question
Sunny@DeCus:
Exactly, BTC miners in China are supporting this
project…their network is serious
Blake@Decus.io:
Here is a full look at our key partners so far. We also
have a number of important KOLs that will be supporting us in our upcoming IDO
Andrés
M. | Satoshi Club: Thank you, any other partnership
coming?
Sunny@DeCus:
Mask.io is also on board.
Blake@Decus.io:
Yes, as I was just sasying, we have several key
KOLs, such as Mr. Block, who is very influential around the world, but also in
Greater China… So, we are really looking forward to our upcoming IDO….watch for
it…..just around the corner…..20th of this month
Gold
Rocket | Satoshi Club: don’t forget to share with
Satoshi Clubbers when the time is right👍
Andrés
M. | Satoshi Club: Very soon 🥳
Blake@Decus.io:
Sure thing……people can join our telegram group
@decus_official to be the first to know. yes, very
soon….there should be round 1 of IDO on April 20 and Round 2 on April 25. The
platforms where the IDO will be held will be announced first in our Telegram
group
Andrés
M. | Satoshi Club: Satoshi Club, don’t forget to
join 💪
Andrés
M. | Satoshi Club: Thanks for the answer, would you
like to add something before the next question?
Blake@Decus.io:
I think we are good…..bring on the next one
please
Q2 from Telegram User @alptrader
What will be the eBTC supply? As eBTC is
supply pegged to BTC, did you mint all the tokens that Bitcoin has right now?
If not, will you mint eBTC tokens after people send BTC into the ecosystem? And
what is going to happen to eBTC supply when people want to convert his eBTC
into BTC?
Sunny@DeCus:
This picture may be helpful for
understanding how eBTC is minted
Blake@Decus.io:
Yes, this illustrates the process clearly
Sunny@DeCus:
Blake , can you give more details?
Blake@Decus.io:
Sure
Andrés
M. | Satoshi Club: Yes please😁
Blake@Decus.io:
it’s pretty straightforward. Someone wishes to
deposit their BTC and receive eBTC on the ethereum network on the other end .the BTC is
then held in custody…and eBTC is minted…..so there is always 1:1 peg for
each BTC:eBTC. there is no pre-minting
Andrés
M. | Satoshi Club: What about the fees? How to deal
with it?
Blake@Decus.io:
@Sunny0928 did you want to discuss the fees?
Sunny@DeCus:
OK
Blake@Decus.io:
So, i think generally we can say that there is a
minting fee and a redemption fee. Those are the two main ones
Sunny@DeCus:
Users have to pay gas fee for minting and redeeming
eBTC, it’s decided by the blockchain network
Blake@Decus.io:
ah there go. Yes, so those are the
only two main fees to be concerned about…and of course the gas fees. But, once
the platform also expands to BSC, HECO, Conflux, etc. those issues become less
of a problem
Andrés
M. | Satoshi Club: When will be that?
Blake@Decus.io:
That should happen fairly quickly. The main
issue with explanding has already been address with our core algorithm that
allows for the extremely low collateralization rates……I dont know if we
have any math geeks in here, but I can share some of the details of how that
works
Sunny@DeCus:
And DeCus system will also charge fees for minting
and redeeming eBTC, but at the very beginning of our project, this part of fees
will be exempted
Blake@Decus.io:
That one is for all the math geeks….I
definitely am not one of them…sorry
Sunny@DeCus:
We want to attract more users to mint eBTC and
bring them to multiple defi protocols and earn with eBTC
Andrés
M. | Satoshi Club: Wow, I need a youtube video
explaining this 😬
Blake@Decus.io:
i agree. That’s why the guys in our core tech team
who developed it all have Phds lol
Gold
Rocket | Satoshi Club: Nevertheless, thanks for the
mathematical justification.👍
Andrés
M. | Satoshi Club: Great aim, I think currently
that’s what a lot of users are looking for
Blake@Decus.io:
I think we can take another question now
Andrés
M. | Satoshi Club: Admirable, congratulations guys 👏 Let’s go
Q3 from Telegram User
@Highpee
DeCus is a cross-chain custody system
which offers tokenized Bitcoin ($eBTC), an ERC20 token backed 1:1 with real
Bitcoin. What is the essence of the tokenization with BTC if $eBTC is not going
to reflect the market price of Bitcoin as said in your project document? How is
$eBTC expected to react to fluctuations in $BTC price and how is the supply peg
affected? Lastly, in what way will $eBTC improve on some of the available
tokenised Bitcoin and provide decreased risk in a truly decentralized manner?
Sunny@DeCus:
I’ll take this one
Blake@Decus.io:
OK. sure Sunny
Sunny@DeCus:
eBTC is building a supply peg, not a price peg, which means
BTC/eBTC might not be exactly the same, and eBTC might trade at a slight
premium or a discount, just like other stable coins, i.e USDT and other
tokenized bitcoins, i.e tBTC. Actually, for bitcoin holders, it does not
matter what the actual price is, it just matters that you can redeem it for 1
BTC at any time. And speaking of this, eBTC is fully decentralized, so there’s no
need for you to worry about irredeemable issue.
Blake@Decus.io:
Sunny@DeCus:
Actually, I have to say, compared with other
tokenized bitcoins, eBTC have lower risk to be not pegged with real btc
Blake@Decus.io:
Yes, just to add. Here is a diagram showing how the
keeper network works…and why it is secure. Indeed…compared to
some centralized pegged BTC, the risk is so much higher for those
Sunny@DeCus:
because the collateral of eBTC is BTC, not ETH(like
tBTC) or system tokens(like renBTC). eBTC uses a system of ‘Custodian Network’ to
accomplish the tokenization of bitcoin. All keepers in the Custodian Network
are organized under the overlapping group assignments in a 100% decentralized
way given Keepers are permission-less to join or leave the Network at will.
Blake@Decus.io:
I think we nailed that question pretty fully…
Andrés
M. | Satoshi Club: What makes eBTC different from
other similar projects like tBTC or wBTC?
Blake@Decus.io: Well, I think Sunny just mentioned a few of the key differences
Here is a comparison chart of our eBTC vs
other competitor projects
Blake@Decus.io:
it mainily comes down to the level of
decentralization and low level of collateralization. eBTC beats them all
on both of these two key fronts
Sunny@DeCus:
In a few ways actually, more decentralized, low
collateralization
Andrés
M. | Satoshi Club: Yes I see 💪 Well, thank you guys for the clear answer, ready to go with our next
question?😃
Blake@Decus.io:
ok. lets do it
Q4 from Telegram User @Moon_951718
Do you have any Coin Burn/BuyBack
systems or any Token Burn plans to increase the value of the Token and attract
Investors to invest?
Blake@Decus.io:
Well, I should mention first that the DeCus token,
DCS, is primarily a governance token. so holders can eventgually decide via DAO the
key facets of the platform. It will also have profit sharing arrangements,
but those are still being worked out, and will be announced prior to the IDO.
So, please follow the announcements on the tokenomics prior to the IDO on the
20th
Andrés
M. | Satoshi Club: Do you have an announcement
channel?
Blake@Decus.io:
Right now, our main Telegram group is
@decus_official and Twitter is @decusio
Andrés
M. | Satoshi Club: Satoshi club, let’s join 🥳 Would you like to add something before the next question?😃
Blake@Decus.io:
I think we are good. Lets go for it
Q5
from Telegram User @Winner_don
Decus aims to solve one of the problem
in the blockchain space is INTEROPERABILITY by creating a decentralized bridge
connecting bitcoin to other blockchain assest. When you said other Blockchain
assest, did you mean all blockchain assest including NFT, Stablecoins? You
created a tokenized Bitcoin “eBTC” on ethereum network. Does that mean that the
bridge will be a link between “original bitcoin on bitcoin network” and
“bitcoin on other blockchain networks”? or the tokenized coins on bitcoin
network? Or maybe both or more… what edge did it have over other tokenized
bitcoin? An explanation will help.
Sunny@DeCus:
I’ll take this. You can have a rest Blake.
Blake@Decus.io:
lol great….I’ll be in the corner having a beer
Sunny@DeCus:
DeCus is more than a solution for tokenized
bitcoin, actually.
Andrés
M. | Satoshi Club: Haha
Sunny@DeCus:
The reason why we choose to launch with eBTC is
that 2020 has seen a huge year for DeFi on Ethereum Network, but Bitcoin, the
biggest player, has been shut out. BTC holders can’t access DeFi services,
liquidity mining, farming, etc. That’s where Decus comes in.
Gold
Rocket | Satoshi Club: Sounds great 👍
Sunny@DeCus:
As Blake have mentioned , after the successful
launch of eBTC, the cross-chain custody system can be used to bridge other
assets
Blake@Decus.io:
Indeed
Sunny@DeCus:
First step is to connect “original bitcoin on
bitcoin network” and “bitcoin on Ethereum Network” Second step is to
bring bitcoin to the whole DeFi system, not only Ethereum Network, but also BSC，heco ,conflux,etc
Blake@Decus.io:
Yes, so this project is bigger than just
BTC/eBTC….it’s building much more than that… BTC/eBTC is just the
start
Sunny@DeCus:
We can imagine more
Blake@Decus.io:
I’m done my beer now…did you have any other
questions left?
Andrés
M. | Satoshi Club: Of course, thank you guys for
the clear answers, let’s proceed
Gold
Rocket | Satoshi Club: Last one😁🍻
Andrés
M. | Satoshi Club: Our last question of the first
part is here 😃
Q6 from Telegram User @kimzyemma
Tokenized bitcoin is another frequently
used pegged value crypto assets, and alot of tokenized bitcoin has already
existed like
WBTC, HBTC, tBTC, renBTC, sBTC and so
forth. How do you want to stand out among
these since most of them are also ERC20 token backed 1:1 with real BTC?
Is there any new package we should be expecting from
eBTC in order to convince the community
about this project?
Blake@Decus.io:
I think this question has kind of already been
addressed already. we’ve gone through why eBTC stands out among those other tokens and
what the difference are….and why eBTC is the best one, of course lol
Andrés
M. | Satoshi Club: That’s true, it was partially
covered, would you like to provide more details?
Sunny@DeCus:
More decentralized, low collateralization. lol
Blake@Decus.io:
yes, exactly. 4 simple words:
“more decentralized, lowest collateralization”. I think
that does it
Part 2 — live questions from
the Telegram community
Q1 from Telegram User @Moon_951718
What
kinds of industries are you trying to penetrate, what kinds of companies and
partnerships are you aiming for?
Blake@Decus.io:
OK, let me take this one first…some of the main
partnerships we are looking at right now…..is with key platforms like Compund
CRV AAVE, etc. Once our eBTC gets integrated with these platforms, it will be a
big plus for DeCus. I can tell you that we are currently in discussions with
these platforms
Q2 from Telegram User @Trilogic3
What’s
the story under the name of “Decus” and why?
Blake@Decus.io:
The name DeCus basically means Decentralized
Custody…so DeCus!
Q3 from Telegram User @boradam
Why adding bitcoin into ethereum network
and into other networks is important?
Sunny@DeCus:
Bitcoin, the largest cryptocurrency by market
capitalization, is incompatible with the current DeFi structure on Ethereum
network. The incompatibility makes bitcoin holders outsiders of the prosperous
DeFi world, meaning that they cannot enjoy DeFi services, as well as the
opportunities of liquidity mining and farming in DeFi. So it’s important to bring
the liquidity of Bitcoin in. It’s win-win to the whole crypto world
Q4 from Telegram User @surendra040
While looking over your team information
,Why did you choose to remain anonymous ? do you have any plan for going public
Blake@Decus.io: I wasnt sure if I should answer this question because the person asking clearly hasnt read the info…but I think it’s important to repeat that the DeCus team is NOT anonynous….in fact the team is fully public and many of the key tech people are top scholars in their field
Q5 from Telegram User @centoscu
Why
low collateralization is better for eBTC? Why high collateralization is bad?
Sunny@DeCus:
High collateralization rate means lower capital
utilization rate. To be more specific, each minted tBTC-token requires collateral of
value ≥1.5BTC, and each renBTC requires collateral value ≥3BTC. Such
over-collateralization would significantly increase the cost of using tokenized
bitcoins. While each minted eBTC may only need 0.5 or less BTC collateral
Q6 from Telegram User @RosemaryBianco
Do you like Scooby-Doo? simple question
🐕❓
Blake@Decus.io:
yabba dabba doo!
Q7 from Telegram User @lukacy
When will you have your public and
private sale?
Blake@Decus.io:
IDO will begin very soon on April 20…the platform
to be announced and other specifics about how to participate will be available
in our Telegram @decus_official and Twitter @decusio
Q8 from Telegram User @Smartling
Since eBTC uses a system of Custodian
Network to accomplish the tokenization of bitcoin. How about the safety of
users funds and private keys?
Sunny@DeCus:
All keepers in the Custodian Network are organized
under the overlapping group assignments in a 100% decentralized way given
Keepers are permission-less to join or leave the Network at will. The keepers
will be punished if they try to stolen the users’ bitcoin. Their collateral
will be taken away.
Q9 from Telegram User @ronaldo_super
On your website it says you don’t have
your token but you said there is a DeCus token DCS governance token. Which is
true?
Blake@Decus.io:
I beleive the website may not discuss the token too
much because we wanted to intially focus on the custody technology. Now that
core testing has been done, we can look at the token and the tokenomics of DCS
Q10 from Telegram User @Guandog
Do you plan to venture into the world of
NFTs and that it is somehow related to BTC?
Blake@Decus.io:
yes, i know that NFTs are super hot right
now……This is another area that we plan to expand into…..once we have
identified standardized metrics for NFTs for collateralization, we will
definitely be expanding into NFTs. Again, DeCus isnt just eBTC, it is a platform
and a system/technology that allows BTC to be pegged and essentially
transported like on the Star Ship Enterprise onto all sorts of alien worlds,
ETH, BSC, HECO, NFTs…where BTC needs to beam down to
Part 3 – Quiz
Results
In the final part we tested your
knowledge in terms of Decus. They’ve prepared 4 questions for this part. The
total reward pool for quiz was 300$.
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 Standard Protocol and our guests were @derrenb00 @TonyLing and @marchzheng. The AMA took place on 12 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 Standard Protocol! Welcome to Satoshi Club😀
Today our guests are
@derrenb00 @TonyLing @marchzheng
march
zheng: hey everyone great to e meet!
lets crush this AMA
today
Dixon
| Standard Protocol: hi everyone, dixon here. thx for having
us~
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi Club,
guys!😀
Mary
| Satoshi Club: Hello, guys! Happy to see you here 👍
march
zheng: super pumped!
Mary
| Satoshi Club: Let’s go 🚀🚀🚀
And we will start with
intro😄
Could you please
introduce yourself and tell us more about Standard Protocol 🎉
march
zheng: march zheng here- head of global communications!
Mary
| Satoshi Club: Nice to e-meet you 😀
Dixon
| Standard Protocol: dixon wong here – product owner
Mary
| Satoshi Club: 👍
Gold
Rocket | Satoshi Club: BTW How did you get to be involved
in crypto & Standard Protocol?
Dixon
| Standard Protocol: after you @marchzheng
march
zheng: Standard Protocol
The first
Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets, and
will operate within the Polkadot ecosystem.
The first and only
Polkadot Web3 foundation granted project from Korea, with a global community
growth approach.
We implement a hybrid
mechanism for stablecoin minting and include a new paradigm for liquidity
aggregation. In contrast to previous generations of algorithmic stablecoins,
Standard rebases its stablecoin supply in each era. It will act as the catalyst
for the financial activities of other parachains to enable leveraged trading
and arbitrage via a built-in AMM. It will also include a protocol for synthetic
asset markets by way of a decentralized oracle.
We have a DAO team
structure distributed across America, EU, China and Korea. While our KOLs and
communities disperse all over the world:
Mr.Business, The most
well-known KOL in Polkadot Ecosystem
Joseph Young, the
famous crypto analyst owns 120+K subscribers in Twitter
Mr.Beast, a 56M+ fans
Youtuber (the biggest KOL in the world)
Ivan on tech，
one of the biggest crypto influencers in the world
Crypto Banter, one of
the most active youtuber influencers
others such as Crypto
of Secret, Carl the Moon, Crypto Rank, Crypto Differ, MoonWalker,
And 40 other KOLs in
Korea、China、Amercia、England、Germany、Spanish、Dutch、Turkey、Russia、Vietnam、Thailand、India、Middle-East、Brazil、Portugal、Nigeria、Indonesia
i got involved in
sandard simply because i saw what the first generation of Algo stable rebase
looked like with ampleforth and esd etc, and thought that collateral solutions
with high liquidity solved the issue
so bascially, standard
to me represented the prime for what gen 2 algo should be, with ample liquidity
Mary
| Satoshi Club: Guys, i was always afraid of rebase
projects 😂 but when i see your investors list i think that i am wrong 😂
march
zheng: most importantly ^^ thank you
Mary
| Satoshi Club: Yes, i see that it has huge potential!
Gold
Rocket | Satoshi Club: Thank you! the intro was great!
ready to move on to questions from the community?😉
march
zheng: yepp, from a BD standpoint, we are going to
capitalize aggressively and efficiently on asian exchange volume and KOL LPs..
on the latter, we are fully engaged with over dozens of KOls, not to mention
specific business lines of inquiries with rhe former
but most importantly,
its our tech advantage and advent of liqudiity that matters
ready golden rocket!
thank you!
Q1 from Telegram User
@Korryl
I
understand that standard protocol is a rebase stablecoin project, but do your
project also offer passive income like farm, stake and liquidity mining? Or
maybe do you have incentive and reward program for holder?
march
zheng: even though we are one of the fist korean native
project to get the polkadot web 3.0 grant, we have always prided ourselves on
being chain agosnitc. though we have the
polkadot community edge in both CHINA and KOREA, we not only want to engage parachains
of the polkadot ecosystem but also utilize our community network and value from
BSC. at the end of the day, the key to
incentivizing farming, staking and lucidity programs is to tackle the strongest
chains 🙂
and we will build
programs for all, chain agnostic wise
Gold
Rocket | Satoshi Club: Well… thanks for the answer. Who
else wants to add something? 😊
march
zheng: thanks 🙂
@TonyLing plz welcome
the head of china, tony
Mary
| Satoshi Club: Do you have dates when your Protocol
will go live?
Tony
Ling: We are not rebase stablecoin indeed，we
use synthetic asset for collateral，and
also somealgorithm，and our Founder Kang
build up a innovative hybrid mechanism for that
Mary
| Satoshi Club: @TonyLing welcome here!
march
zheng: we dont like to shill this, but kang is the former
head top tier devleoper of terra and full time plasm.. we have a korean genius
here
Mary
| Satoshi Club: I see, it’s something different 👍
march
zheng: gen 2 @madamlobster
Tony
Ling: Definitly. Yield farming, joining as protocol
validators. These are passive income methods, and as other protocol, we have
interest rate for staking
march
zheng: learn from mistakes from first
gen
that is the key
Gold
Rocket | Satoshi Club: Thanks for clarifying👍 it
is very important!
Mary
| Satoshi Club: It’s great! Users like incentives and
always looking for them!
march
zheng: liquidity mining and incentive tokeneconomics are
only going to defvelop and build from here
thats the beauty of
crypto
and our chain agnostiic
advantage lets us engage all ecosystems
Mary
| Satoshi Club: 👍
march
zheng: thanks 🙂
Mary
| Satoshi Club: Thank you for your answers, guys! Ready
to proceed or you want to add something?😀
march
zheng: plz proceed!
thanks mary
we are clearly excited
as u can tell, haha
Mary
| Satoshi Club: 😍
Q2 from Telegram User
@AmirJosh
Standard
protocol uses three token system: Meter($MTR), Liter($LTR), and Standard($STND).
Why do Standard Protocol created 3 tokens to use for their ecosystem? Is it
hard for 1 token to shoulder the usecases of all the 3 mentioned above? Do
their supply differ from each other?
march
zheng: as a ben 2 stablecoin, we are trying to tackle upon
the problems of collateralization and rebase that were present in gen1. to keep it simple, we are offering our
governance token STND in the presale. It
will benefit from 1) our exchange relationship BD, 2) LP liquidity fr liter and
meter through our asian BD relationships which will flow back into value
accrual (similar to EIP 1559 in terms of token burn relative to usage) for
STANDARD and 3) deflationary supply like ETH relative to usage.
above all, we want
ample collateral that mixes well with ample demand. the latter from defi and
parachain communities is more important than anything
generation* 2
both meter and liter
through collaterization and LP for yields will accrue to governance for
standard that beneifts from exchange listings, governance decisions, and
buybacks
thanks @GoldRocket27
Tony
Ling: To summarize, we have five modules, Oracle, token,
farming, vault, and exchange. For token part, we need stablecoin MTR as our
core concept”stablecoin”, and LP token for our inner AMM exchange,
and also governance token STND for farming as well as trading in cex
Gold
Rocket | Satoshi Club: this is a pretty smart decision! 👍
Mary
| Satoshi Club: So, Meter and Liter will be governance
tokens. If we can get STND from pre sale, how we can get MTR and LTR?
march
zheng: similar to Maker and Dai.. u collaterize say ETH
into the maker protocol (say STANDARD in this instant) and mint our stablecoin
meter
Gold
Rocket | Satoshi Club: by the way, please share your
tokenomics
march
zheng: apologies, only STANDARD IS THE GOVERNANCE TOKEN
Mary
| Satoshi Club: Np, now we got it!
march
zheng: can we share this? @TonyLing
and then the value
accrual to maker is similar to how it is for dai
Tony
Ling: Sorry it’s not public
march
zheng: except as for standard, we are benfiting from DEFI
lp from multitide fronts
standard, ofc, is the
specualtive end that beneifts from specualtin and real utility/LP usage
Tony
Ling: Only our investors and business partners we can
offer that. And for token distribution，that
is in our wp
march
zheng: the minted
meter, and thus stable liter in all market conditions remain normal
Gold
Rocket | Satoshi Club: Gotcha
Mary
| Satoshi Club: We will definitely read it!
Thank you for your
answers, guys!
Do you want to add
something or we can go to the next question?
Tony Ling: Next pls
Mary
| Satoshi Club: 🚀🚀🚀
Q3 from Telegram User
@Indomiekuy
As
a Rebase Stablecoin project and synthetic asset, I read that Standard Protocol
already make partnership with bank with name “Gingko Bank”, can you share
detail what are the result from that agreement? Also where is the location of
“Gingko Bank”? Do you have plan to add another bank as partner in the future?
march
zheng: We cannot at this time indefinitely, any “macro
events” outside of crypto hole can understand
What we can say is as
we near IDO on polkastarter.. more is going to be announced in further detail
As for partner ships
without mentioning names… be on lookout 😉
Mary
| Satoshi Club: Whitelist is already open?😀
Tony
Ling: Haha firstly thanks for your close attention and
that is a super good news for not only us but the whole defi industry. This
bank locates in Korea, and we are thrilled to have deep partnership even for
some fiat-crypto gateway using Standard application afterwards, But for other
info, sorry we have to keep it as a secret, but stay tuned please!
march
zheng: ^^^ as for
ginkgo bank.. Korean… that we can mention :))))))
Trust the Koreans
hahaha
Tony
Ling: We arr strong all over the world and Korea too！
march
zheng: [ 💯 Sticker ]
Shhh
Haha
Mary
| Satoshi Club: We won’t tell anyone, Satoshiclubbers
can keep secrets😂😂😂 but, yes! We will wait for updates!
Gold
Rocket | Satoshi Club: ready for the next question?😀
march
zheng: Yepp!
Fire away!!
Q4 from Telegram User
@Andrey_Seleznov
Hi
Standard
Impressed
by the fact that Standard Protocol was awarded a grant from the Web3
Foundation! Was it a difficult process and what was required from you to pass
all the milestones?
march
zheng: Will Let tony fire away
Tony
Ling: Well，that’s
a long story…
march
zheng: But yes was difficult in very beginning it’s our
comparative advantage relative to region
Tony
Ling: But not too difficult for us to go thru this for
Our Founder Kang is really good at coding and he has a complete solution in
Oracle model
Mary
| Satoshi Club: Yes, i know that it’s not so easy to
get this grant! Congratulations!
Tony
Ling: Also some other parts in our github strike the
voters a lot so we pass
Mary
| Satoshi Club: You have the best Founder!
Gold
Rocket | Satoshi Club: Congratulations! thanks for the
answer! Do you want to add something?
Tony
Ling: Just to remind, we have the best solution oracle
provider in substrate and thru that we will have a lot partnership in polka
ecosystem with other defi projects, and even outside the blockchain world！
That’s all
Mary
| Satoshi Club: That’s simple – you’re the best😉
Q5
from Telegram User @dudeiebitch
We
all know there is no rewards for oracle in a decentralized ecosystem but only
on the centralized ecosystem, you planned to rewards oracle providers in a
decentralized ecosystem but you proposes a reward mechanism in each era and
slashes equivocation with the IQR rules. What are these IQR rules and how do
you plan to achieve this with the cons of decentralization
march
zheng: Tony ^
Sorry @GoldRocket27
could u batch down the iteration on IQR? We like to clarify meaning first
From a
philosophical standpoint if I can answer
immediately, it’s relative to the macro meaning of decentralization. For us first. Prioritizing initial LPs and
provided is foremost
Mary
| Satoshi Club: Philosophy is also good!
march
zheng: In time, we hope to build a global mindshare to the
level that we see with eth, but we realize it’s ambitious ness. Incentivizing
liquidity and users first is foremost
Tony
Ling: Good question. Indeed we reserve a certain
percentage of our token for oracle providers-the validator, it’s important. And
we choose from them ramdomly to promise the fairness and decentralization.
Gold
Rocket | Satoshi Club: this is a question from our member
of our community.🤷♀ want to add something or share some important
information
Mary
| Satoshi Club: They will be rewarded randomly?
march
zheng: From that end, decentralization is a framed
question IMO
We want to reward ample
liquidity providers and users
But also realize eth is
one of the kind
Perhaps bnb is one of
its kind
Tony
Ling: The oracle providers are chosen in each era to
share the reward token in pool for certain percentage of all of our token, kind
of consensus mechanism.
Mary
| Satoshi Club: Interesting system and for sure it will
help decentralisation!
Gold
Rocket | Satoshi Club: Many thanks for answers! Ready to
proceed to last question of this part😊
march
zheng: Let’s go!! 🙂
Q6 from Telegram User
@victorogb
With
it’s interoperable ecosystem feature, Standard Protocol can work across
different blockchains as a form of smart contract in each network, sharing
price information to other chains or fiat assets with charging fees. The lack
of fees charged on this services, is it totally dependent on Standard
Protocol’s self-sustainig oracle reward ecosystem or a variety of other unique
features, and can you briefly describe how the self-sustaining oracle reward
system works?
march
zheng: Fees is relative of usage.. and we hope to provide
an ample balance in terms of usage relative to feees
All decentralized
oracles suffer from either fee accrual or lack of liquidity aggregation
We want to combine that
in the best decentralized and centralized method… if possible!
By one, aggregating
liquidity to LPs decnefdlizafoon fashions, and utilizing price oracles
centralized in correct fashion
Mary
| Satoshi Club: That’s true!
Tony
Ling: First, it’s true we need to have a balance between
the fee input and the token output based on the oracle service, but that’s also
one part that if more frequently service used, we will involve more validators
to feed the price, which will distribute our token bonus. Second, we believe we
will have a lot more usage in traditional world and become a killer app for
traditional financial asset!
Gold
Rocket | Satoshi Club: you have ambitious plans and goals! 👍
Mary
| Satoshi Club: Why you want to kill traditional
assets?😂
Tony
Ling: Well…they need to embrace Crypto haha
Take it or leave it
march
zheng: Guys.. why are we all in cryptoVb
??
Because it’s the future
of financial coordination
And we want to at least
help it go ONE STEP in that direction
Mary
| Satoshi Club: Yes, if i will talk about this without
jokes – i understand the importance!
And we really
appreciate what you’re doing! That’s a great job!
Gold
Rocket | Satoshi Club: thanks a lot for the answers! and
now there will be the most exciting part of AMA – live questions!
Mary
| Satoshi Club: Our users prepared a lot of questions 😉
Do you want to know
what ‘a lot’ means?
march
zheng: Oh geez
Love the enthusiasm!
Tony
Ling: Lol
Mary
| Satoshi Club:[12.04.21 14:18]
Let’s go 🚀
Part
2 — live questions from the Telegram community
Q1 from telegram
username @rockmorti
Is
it possible in Standard protocol to do MARGIN operations? that is, some lend
and borrow mechanism to use in the market?
march
zheng: Depends on our technical capabilities .. will
inquire the team
Q2 from telegram
username @topind7
How
do I get to know more about Standard protocol, any channels or communities of
yours I can join?
march
zheng: Standard.tech
Q3 from telegram
username @KhaleesiTheCryptoLady
When
will be your IDO, do you have whitelisting? How can we participate in acquiring
STND token?
march
zheng: Polkastarter website.. follow our Twitter standard
tech
Q4 from telegram
username @Carolina0012
I
understand that the Token module is a register that stores asset information
about the Standard Protocol and other strings. How are assets managed? How is
each one identified, are they identified in batches, or do they have a unique
identifier?
march zheng: Internally, all
movements Capital in and between on our blockchain 🙂
Q5 from telegram
username @Eminet001
does
STANDARD PROTOCOL Plans on launching events like ambassador programmes. ?
march
zheng: Yepp! Country dms worldwide
India
Vietnam
Us
China
Korea
DM me if interested I
helping.. it’s part of our bread butter
Q6 from telegram
username @BJosefinal61
As
you plan to support leverage in commodities and other assets, do you plan to
add an incentive system based on liquidity pools?
march
zheng: Liquidity poools and LP always.. just different
mechanics of the governance token we will do to provide that
Q7 from telegram
username @boradam
As
you are using polkadot and ethereum blockchains for your three tokens and the
gas prices are high, do you plan to add support for BSC too?
march
zheng: Interoperable is the word. Erc 20 for tech. Polka
dot and BSC for community
Q8 from telegram
username @feranno
Do
you believe the Standard Protocol adds a different value or a unique contribution
to the blockchain system?
march
zheng: Yepp, we will collaterize rebased stablecoin like
no other algo befor us
Q9 from telegram
username @Karoceh
What
is the long-term vision of the Standard Protocol? Was Standard Protocol
developed to dominate the Oracle field? How does the Standard Protocol stand
among other decentralized oracles? Are you open to possible partnerships with
other oracles?
march
zheng: Bridge traditional world and crypto world, start
from Korea first
Q10 from telegram
username @NataliyaKil
In
the vault, we are able to generate MTR.
To remain liquid, we have to have at least a 150% collateralization
ratio. You even have a formula for
calculating debt: Debt (MTR) = Collateral (MTR) /1.5
Can you tell us more about such an opportunity
as MTR generating, why you need collateral and why 150%?
march
zheng: Reference Maker and eth but with the Polkadot
ecosyste.. we are leveraging communities here poladot wkse
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 LOC Game and our guest was @mikmiro. The AMA took place on 13 April.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with LOC Game!
Welcome to Satoshi Club😀
D. | Satoshi Club: Today our guest – @mikmiro !
Mik LoCgame.io:
Hi guys!
D. | Satoshi Club: Hello!
Mik LoCgame.io: Glad to be here.
Mary | Satoshi Club:
Hello, Mik! Welcome here 👍
How’s going?
Mik LoCgame.io: Going good, so much exciting stuff happening with LOCGame.
D. | Satoshi Club: Awesome!
Mary | Satoshi Club:
Fantastic! Let’s start our AMA 🚀
D. | Satoshi Club: We hope you will tell us about everyting today 😊
Mik LoCgame.io:
I will do my best 🙂
Mary | Satoshi Club:
And usually we start with intro😉
D. | Satoshi Club: A good tradition 😉
Mary | Satoshi Club:
So, could you please introduce yourself and tell us more about LOC Game 🚀
Mik LoCgame.io:
Sure thing! Happy to start.
Let me think….typing the whole long intro one message or several short ones.
D. | Satoshi Club:
🤔
Mik LoCgame.io: Well, about myself then first.
D. | Satoshi Club: Tough choice😄
Mik LoCgame.io: Let’s start with some bragging lol.
I am in blockchain since 2015, crypto 2017 and otherwise, i have had a looooong career as a banker and also with Airbnb here in Amsterdam.
D. | Satoshi Club: So you met blockchain technology before crypto? 😃
Mik LoCgame.io: Ahaha you got me!
Mary | Satoshi Club:
Long time in crypto industry 😀
Mik LoCgame.io: Yep i did, because in my banking career i was a part of the innovation lab at ABN AMRO where we experimented with several products like real estate on blockchain, trade finance on blockchain, etc.
Meaning that i have not had my first coin yet
It happened in 2016 before i left banking and went traveling to South America
And when i came back….boooom ICO explosion happened.
Mary | Satoshi Club: Oh, you were back in time😉
D. | Satoshi Club:
2017 😏
Mik LoCgame.io: Yep so I got mesmerized with all that was happening and joined ICORating to bring some order to the chaos 😉
Enough about me I guess? let’s start with LOC
We just got our new stickers out today, i am so excited abou them
D. | Satoshi Club: Sure! thank for the nice intro about yourself!😊
Mary | Satoshi Club:
Sure!
Give them!
Mik LoCgame.io: I’ll share more later.
Ah nice!
Mary | Satoshi Club:
They’re cool👍
Mik LoCgame.io: Thanks! team work of many people but most of all our art director and a designer.
Let me tell you the history of LOC.
Mary | Satoshi Club:
Your guys are talented!
Mik LoCgame.io: I love NFTs since 2018 when I met Crypto Kitties guys in Hong Kong during a crypto conference. I have a small digital art collection.
Mary | Satoshi Club: They are awesome 😍
Mik LoCgame.io: End of 2020 at Crypto Rebel where we do news and entertainment we had a bunch of cool ideas and.
D. | Satoshi Club: We adore NFTs as well ☺️
Mik LoCgame.io: I made a series of digital art pieces with crypto characters and with my co-founder, we were like, let’s make a game as a tribute to crypto industry!
I love table games and Top Trump Cards are one of those that i played with friends for many years.
we quickly developed a concept with very recognizable charachters for crypto folks and started building.
You know our industry.
Is cool for a very special reason.
For its ability to produce so much humour and jokes about itself.
It helps survive the bear market and tough times.
And we decided to pick it up and implement it all in our cards, which are both collectibles and playable game assets.
Mary | Satoshi Club: That’s 100%👍
Mik LoCgame.io: So we really hope you guys enjoy our work.
To play, collect, earn (rewards) and have fun at the same time.
Mary | Satoshi Club: Explosive mixture!
Mik LoCgame.io:
We think so too. In our architecture we have tons of DeFi elements that reward
game players for being the owner of the game assets, playing the game
The more you get involved, the better the reward.
Mary | Satoshi Club: You incentive your users good😉
Mik LoCgame.io: Well you know you could have played hearth stone for years and everything you spent went to the gaming company.
Blockchain and nft brings a new paradigm finally.
D. | Satoshi Club: Indeed!
Mik LoCgame.io: Where players can finally feel that they are a part of this economy.
Mary | Satoshi Club: Yes, now, when i am playing my old games i can’t stop thinking about this.
Mik LoCgame.io: Yes and now as we have the power of blockchain, the nft is a huge trend, a major shift is coming along and Rbl Labs and LOCGame is one of the pioneers of this gaming revolution.
You own the assets, can trade them, can invest them – get the % from the prize pool, can vote for major game decision.
Mary | Satoshi Club:
Sure!🚀🚀🚀
Mik LoCgame.io: Basically be a part of it.
We want everyone to benefit.
Mary | Satoshi Club:
And we will😉
Thank you for your intro, Mik! Do you want to dive deeper into the details and start with the questions from our community?😉
Mik LoCgame.io: Of course! with pleasure.
D. | Satoshi Club: Let’s do this! 🚀
Q1 from Telegram user @Winner_don You are having your first SHO public sale on DAOmaker April 28. We all know that SHO allows a project to build a community with the ‘precise’ type of holders the team wants. What will be the pattern of the upcoming SHO? What would be the benefits for holders during and after the sale? How many tokens is up for sale, at what price and how many users can participate?
D. | Satoshi Club: And what is SHO? 👀
I have heard about IDO 😁but SHO🤔
Mik LoCgame.io:
Oh I wish we had our friends and partners from the DAOMaker here to answer
this. I can cover some part of it surely but not all
Thanks for the question.
Mary | Satoshi Club:
Yes, please, cover what you can😀
Mik LoCgame.io:
SHO = strong holder offering, a type of the IDO that only DAOMaker has.
DAOMaker built an outstanding community of folks who invest in projects they
believe in and in it for longer term, hence the name I remember correctly
D. | Satoshi Club: Thanks for the explanation 👌
Mik LoCgame.io:
How many tokens is up for sale, the value of $100k+ and the exact pricing will
be announced very soon.
About the community – this is one of the reason we decided to work with DAOMaker, we love their approach to community building. They work with startups they see value in and help them along the way. This vibe is definitely transpired to their community and we will rely on their support.
Mary | Satoshi Club:
Did you have private sale before?
Mik LoCgame.io: Sure thing! We have been in this industry for a while and received overwhelming support from people we know and value as investors, people we did not know who showed up and proved invaluable.
It was closed with x9 oversubscription result.
I hope we could have more people join, the CAP list is available on DAOMaker LOCGame page and our Medium
Mary | Satoshi Club: Awesome! Congratulations 👏
Mik LoCgame.io:
Thanks so much
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?😀
Mik LoCgame.io: I sure am.
D. | Satoshi Club: 🚀🚀🚀
Q2 from Telegram user @cryptofollower Bringing the top trump card games into the crypto and adding NFT’s into it really groundbreaking. Are there any changes that you bring to the playing rules of the Top Trump Card Game with the initial release of LOC? Also, do you plan to create another card games into the LOC after you scale?
Mik LoCgame.io: That’s an AWESOME question.
Mik LoCgame.io: Top Trumps is a proven concept for a table game, it is great to socialize at home with friends, but online you need something spicier.
We have an amazing gaming expert who joined our team as a Lead Game Producer, he brings wealth of knowledge in game play, mechanics etc
Right now we are tweaking the gameplay of Top Trumps to make it more fun, scalable and not less interesting than (hopefully) Hearth Stone 🙂
Plus.
What’s cool about Top Trumps.
The categories are easily extandable. we start with crypto charachters in Genesis Edition.
And then expand into crypto cities, decks based on partnerships and many more.
Imagination is the limit.
D. | Satoshi Club: Will you planning to cover other game genres, or you only specialized on card type games?
Mik LoCgame.io:
This is our first game at RBL Labs and as we learn in this journey, we plan to
build more cool games on blockchain with the focus on NFT
Does not need to be a card game of course.
Mary | Satoshi Club:
We love NFTs😀 Can you show us some of your NFTs?
Mik LoCgame.io:
Haha me2!
I have some on OpenSea.
But more importantly, we will have a sneak peek to our NFT cards this week, you will be able to see some of them on our medium and social media.
…and
Mary | Satoshi Club:
Yes, Opensea is top😀
Mik LoCgame.io: We will have a contest for the best tag line for crypto legends.
Mary | Satoshi Club: We will follow your updates!
Mik LoCgame.io: Do follow us and participate guys, it will be so much fun.
Mary | Satoshi Club: Thank you for your answers! Do you want to add something or we can jump to the next question?😀
Mik LoCgame.io: We can jump.
Q3 from Telegram user @Wormz28 It’s so nice that you give importance of giving back to the community by Donating your 10% of LOC NFT Sales to your Charity Partner, The Little Phil. So how this Partnership works and tell us more about the Little Phil Charity and what made you decide in choosing them among others?
Mik LoCgame.io:
Thanks for this one
Indeed from day 1 we decided to donate part of our sales proceeds to a charity.
I have known Little Phil since 2018 and guys built a great product – an app for charity donations on blockchain that makes it fun and transparent to donate to a good cause.
D. | Satoshi Club: This is very generous of you 👍
Mik LoCgame.io:
We picked the first good course to begin with and later the communtiy will be
voting where this 10% will go to
We want to be like an early Dogecoin community that supported lots of cool initiatives.
Hope this answers the question.
Mary | Satoshi Club: It’s nice goal for your community!
Mik LoCgame.io: Thanks, Mary!
Mary | Satoshi Club:
Thank you for your answers! Charity shows you from a very good side👍
Ready to go to the next question?
Mik LoCgame.io: Sure.
Q4 from Telegram user @Antoni_azx You have a kickback mechanism for buying NFT cards and decks on LOC marketplace and receive “kickback” in LOC token, how is the value of these NFTs that can be traded determined? are they sold to other players or is there an auction system?
Mik LoCgame.io: Good question.
D. | Satoshi Club: So kickback is like cashback? 😄
Mik LoCgame.io:
Basically we will transfer % of the NFT (card or deck) sale price back to the
initial buyer in LOCG token
Yep is a cashback.
So the buyer has LOCG to particiapte in the ecosystem later when the game is out.
And before its out in liquidity staking pools.
Plus some other perks 😉
D. | Satoshi Club: Does kickback amount depend on value or rarity of NFT?
Mik LoCgame.io: Actually, it will be a fixed % from the value of the NFT card.
So say
you bought a card for $50
we send you back $2 in LOCG
D. | Satoshi Club:
gotcha 👌
Mary | Satoshi Club: I love this😍
Mary | Satoshi Club:
Where your NFTs will be traded?
Mik LoCgame.io: Firstly our native marketplace and then we plan integration with Terra Virtua, Open Sea.
D. | Satoshi Club: Terra has its own blockchain if I’m correct?
Mik LoCgame.io: For now it is ETH and there will be Matic and other integrations if I am not mistaken.
D. | Satoshi Club: Got it! thank you for answers! ready for the next question?
Mik LoCgame.io: Yep!
Q5 from Telegram User @alptrader You named one of the top characters in the Locgame as CZ the founder of Binance at your medium page. May I suggest you some more characters for the Locgame? What do you say for the pizza guy who sold 10,000 BTC for 2 pizzas and of course Elon Mask? Also could you please share some more core characters for us?
D. | Satoshi Club: Pizza guy🤣
He’s name is Laszlo Hanyecz guys
Mik LoCgame.io: Was CZ shared as a card hero? I need to double check lol. Actually, we have not decided yet on who from real life will be a part of the Genesis Edition. Original thinking was that we only have 1 real person,the rest being characters we all know and recognize like a Whale, Market Maker, Exchange Listing Manger lol etc etc.
BUT i love the pizz guy idea.
And yes please you can suggest.
D. | Satoshi Club: Yes, idea a cool i agree.
Mik LoCgame.io: And we will have a contest for that too, we want our community to propose the worthy characters we may have missed or people from real life.
Mary | Satoshi Club:
Good idea about contest! As you can see our Satoshiclubbers also have wild
imagination 😉
Mik LoCgame.io: You are great guys.
We need your imagination to make LOCGame great together.
Mary | Satoshi Club:
Btw, who you personally like the most in crypto industry?
Mik LoCgame.io:
Hm……that’s an interesting turn
D. | Satoshi Club: Who’s your favorite superhero 😄
Mik LoCgame.io: For business side of things I do like CZ a lot for what he has built and accomplished.
D. | Satoshi Club: Yep, he’s cool guy. did so much for crypto.
Mary | Satoshi Club: Yes! And from NFT artists?😀
Mary | Satoshi Club:
Beeple?😉
Mik LoCgame.io:
Actually I like a few, but company wide I really like what Axie Infinitie does
in the space, BlockLords, and ArtBlocks – computer generative art
D. | Satoshi Club: Good taste!
Mary | Satoshi Club: Yes, they are really super heroes!
Mary | Satoshi Club:
Thank you for your answers! Ready for the 6th and last question from this part?😀
Mik LoCgame.io: Yesssss.
Q6 from Telegram user @Indomiekuy You claim to become card game using blockchain system and NFT item, can you explain how blockchain work in a card game? And do all of your card is a NFT?
Mik LoCgame.io: Ok, so blockchain here is really a database recording all the transactions and making sure your NFT cards are there forevere, are yours, can be staked, be a part of ecosystem and sold outside of LOC on third party marketplaces.
Yes all of the cards are NFTs.
Mary | Satoshi Club:
Thank you for your answers!
Mik LoCgame.io: With the help of blockchain we implement defi elements to the game and it will make sure the cards are yours and not the game property.
Of course. thanks so much for all the question and hospitality in your group.
Mary | Satoshi Club: You have awesome system!
Could you stay a bit and choose 10 questions from live part and answer them later?
