We are pleased to announce our next AMA on May 24th 2021 at 03:00 PM UTC Time: Satoshi Club x Munch
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Munch Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Munch Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Munch
For more details:
Munch Website – munchtoken.com
Munch Telegram – @munchtokencom
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Are we creating a coin or a platform and is this going to be the next generation of crypto tokens
How many digital currencies do you think will be practical as they gain popularity? The world has tons of fiat currencies, but it seems like there will be far more crypto currencies
Aside from donating burned tokens to charity, how else does munch plan to contribute? With the name “Munch” do you think the brand could launch its own charity dedicated to fighting food deficiencies in less fortunate countries or among impoverished populations?
What is the next big thing we can look forward to once the bsc bridge is complete?
Are there any plans for a possible partnership with major philanthropists or influencers in that field?
Currently it is difficult to find projects that are focused not only on earning capital for themselves but also on helping those most in need, so when I read that your project supports social causes, it awakened my interest in MUNCH, but, are these charities focused on a single horizon or do they cover human, animal and environmental rights? How can we apply to any organization and by what means?
In relation to your feature, “benefit by holding”, is the passive income that each user obtains in $MUNCH or is there the possibility of obtaining it in the so called “stable currencies”?
According to your roadmap, for this quarter you still have to carry out the “First digital advertising campaign”, but, there is no better advertising than the opinion of the users and community, so, how can your community be part of this and contribute to this campaign and to the strengthening of your ecosystem?
What is your strongest advantage that you think will make your team leading the market. In the coming months and days?
Partners are very important for every project today, may I know which partners you have now? and which partners in the future you will be heading to ?
Can you give us some insight into #Munch strategy and future? and what is #Munch long-term vision?
What makes you feel confident about the survival & sustainable success of your project in the nearest future?
While you build your project, do you take community feedbacks and demands in to account?
What achievements have $MUNCH token achieved so far? What are your main focus for now?
Can you share with us more about the team and some of their backgrounds? I have personally seen many such projects that launched with inexperienced team members which later lead to the abrupt end of the projects.
$SHIBA, a copy meme token of $DOGE on Ethereum had it value plummeted drastically after Vitalik donated USD 1.14 billion worth of $SHIBA token as a charity to Indian Covid-19 Relief Fund. Up till now, this token has not recovered from the incidence which was further worsened by the current market condition. As a platform, you already donated $2 million under a month to charity organisations. While it is good to support charity cause, it will equally be considerate to ensure that these activities do not impact negatively on long term holders and investors. How will you ensure that large charity transactions do not destabilise and sink the value of your token? How do you strike a balance between supporting human cause and securing investors interest?
As a charity focused project, your goal is to rally the crypto community and encourage them to distribute their wealth towards charity. However, one of challenges faced by donor is lack of trust in charity organisations as they are unable to monitor and ensure that charity fund are used for what it was purposed for. How do you ensure a trustless and secure donation? How are charity organisations and beneficiary of your donations selected? What vetting process do you have in place for onboarding benefiting charities and how are community incorporated to ensure a transparent donation process?
Looking at your roadmap, I can see that you plan to launch two different type of launchpads (launch for social cause and launchpad for new projects) by the last quarter of this year. What is charity launchpad and what will be the essence of these product? Will it be an incubator that offer startup service for charity organisation? And for the project launchpad, how will you select the crypto projects to feature and how will investors participate in the launchpad sale event?
MUNCH is not the first token with a charitable distribution plan, but it is the first token to have a sustainable tokenomic model that will ensure that these donations maintain their value for the causes that receive them. Can you explain to us how this sustainable model works?
To protect Munch investors, the liquidity held in the group’s token movement is locked in with a time-based feature. Can you explain what this means? how does it work?
Munch being a community driven project means we give our community a voice in the causes to which donations are sent. The first donations went to Givewell a charity focused on using reason and evidence to make better decisions when it comes to donating to charitable causes. Do you already have an estimate to which other charities to allocate the money? Do you plan to provide support in the current global pandemic by Covid19?
It is very important for new projects to get support at the very beginning. Sometimes this becomes not an easy procedure. I can say that it is very impressive Munch collected 2 Million $ donation less than a month even in this market! How did you manage this? What was your marketing strategy and how will this continue in the future?
The idea of what Munch project is doing is such a good intention! However, market is full of scam projects. They even scam people who just want to make a donation! How can we be sure Munch is a trustable and secure project? How can donors know their donations really reach where it needs to be?
With Munch, the community decides the causes to support, so how do users select or vote for what charity gets your next donation, what are the requirements to participate in the selection process, and how is the list of charities from which users will be voting for arrived at..
On your road map I can see three different launchpads.. which are “Launchpad – for social causes”, “Launchpad – for new crypto projects”, and “Launchpad – for individual causes” most of the launchpads available today are for new crypto projects, so how will the launchpad for social causes and individual causes work, what will they be used to launch , how will users participate and benefit from this new launchpads and how are they different from each other..
Recently An NFT ARTWORK COMPETITION was announced on your Twitter handle and it is said that this artwork competition will have a charitable twist with about $1500 worth of $Munch up for grabs & and a sizeable donation via an NFT auction to the winners choice of Charity.. can you give more details on how this NFT art work competition will work , how can users participate and benefit from the competition, and how will the NFT auction for the charity donation be done..
In your whitepaper you talk about an “organic growth” of your project, I see that you are focusing on a long term development rather than “substanceless promotion”, which aspects are more important to develop for MUNCH to achieve long-term sustainability?
In your whitepaper it says that you never store tokens or donations in a wallet owned by MUNCH, instead they are converted to ETH at the transaction point and sent directly to charity addresses, but how are these transactions sustainable due to the incredibly high fees to pay in ETH? What if the gas rates are even higher than the same donation? Is there a minimum set to be able to do these conversions?
Munch token project cares alot for the community by making all transactions automated and never held in a company wallet. This project also make 5% of each transaction automatically sent to a charity picked by the community. How do you plan to make profit or sustain since all the major places to get profit are for charity? And do you have sponsors at all that serve as backbone for this project?
When I checked your donations chart, I could see that alot has been done in this project in terms of donations, how do you select charitable foundation you donate to, what are the criteria for selecting them? In order for organizations to benefit from this project, what are the measures needed to be met?
This project has done alot for some organizations and still have plan to help alot too. But as an individual not talking of organization presently, how can we benefit from this project? You said being an holder of your token we can enjoy being a $MUNCH owner with all the benefits, what are the benefits you are referring to?
One of the things that sets $ MUNCH apart from other charity platfroms is its focus on being more than a “meme coin” and rather a utility token with many use cases, can you summarize them?
MUCH will employ a blockchain ledger to track funds to monitor wallet addresses than have been highlighted for bad practices, so you only accept donations from addresses with a good reputation? How do your donation terms actually work for these types of cases?
I read that in Q4 they will carry out charitable associations NFT, but could you really explain to us how useful the NFT will have to benefit these charity movements? only that a % of the capital of the NFT sold is destined for that work?
Could you tell us about the Contests and community giveaways that you plan to implement in this Q2? What theme will they have and how often will they be held?
You display a table of donations for this month with $ 1,334,291 (396.44 ETH) on your website, but how do you know that this capital has gone to charities? Is there a way to check it to know that this project is not SCAM?
I could see that they plan to help many charities and non-profit organizations for different purposes, but how will Munch really distribute the donated capital in each of those organizations?
One of the great limitations of participating in Munch donations, are the high amounts of fees spent on ETH, is that why in this Q2 they will create a bridge with Binance? or really this bridge will have another use?
Users will have the possibility to choose which charity to direct 5% of the fees for each transaction? or can only really be decided by the community through voting?
Initially Munch will only be available for exchange on Uniswap, but do you really plan to expand soon for other swaps such as 1inch or SUSHI? but only exchanges on Dex right?
You guys have the phrase “Take a bite out of traditional finance”, but it really makes me curious, so could you explain its meaning? is in order that we forget about CeFi right?
I read that in MUNCH, the cause will be updated every month and it will be decided by a community vote, but how do you guarantee that the organizations you select for your users to choose from, are actually organizations that work for the causes they promote and that there is no possibility that they will divert money or misuse it?
Could you please tell us what are the next steps you are taking to make the MUNCH project reach more people and become one of the most popular Defi charity projects in the market and with the highest number of donations per month?
When checking your donation chart, I figured out you were able to achieve a very great feat of gathering over 10k$ in 24hours, congratulation on that. I will like to know how these was achieved, was it through some special fund gathering apps or it was done solely by yourself.
When we think of it, using your community seems like a plus to everyone including those that do not know of it, you make sure that 5% fees of each transaction is automatically sent to a charity. I will like to know how you decide which charity to assist and do the community have a say when deciding the charity you want to assist.
Your liquidity is only locked for 6 month, what is the reason why it is locked for 6 month and not longer than that when you are trying to promote equity and fairness.
I checked around and I figured our there is no specific place on your website where you publish a list of charity organizations you have donated to or charitable organizations we users can select for donation. Where do you publish charity organizations you have donated to and how is the techniques of user selecting organization to donate, performed on your platform.
Your project is an ERC20 token that charges a 10% fee on each transaction and from that fee, 5% reverts back to the holders and the remaning 5% are donated to the charity wallet in ethereum. What is the maximum number of holder that benefits from the 5% being shared, is there a leaderboard or it is given to all holder of your token.
Thinking of it, when we purchase your coin and donate with your token purchase. It will certainly reach a threshold that allows you to take a bigger bag of the holding for donation, how does converting a bigger bag of your token to ethereum tries to not affect the price of your token or is it a stable token? What are the gain to holders when holding your token.
We all know that one of most common benefit users look for about is the lower cost of transaction fees when performing a transaction but looking at the facts you run on the ethereum server which of recent have higher cost fees, what are you plans against these higher cost fees or do you have plans to make some amendments to it later in the future.
What strategies have you developed so far that will increase the percentage growth in the value of the Munch token day by day and make the token sustainable regardless of the number of users who hold it?
How important is it for Munch to demonstrate that it is reliable, transparent and secure to any project participant, could you please tell us a little bit about this and explain how you can demonstrate to your users that all your mechanisms are reliable, transparent and secure?
I would like to know how the donation system works completely, from how and when the possible charities that can be selected by the users are selected, to the final moment when the donation is transferred to the winning organization? could you please explain each of the steps that are taken to complete the system?
It remain just three things to complete your mission for second quarter 2021 Q2, thanks to the team of munch token. Among the three thing left, SMALL SURPRISE was actually the last thing which called my attention. In order to be part of beneficiary of this surprise, can you brief us your plan for this? How can we benefit from this surprise you planned for the community?
Reading about $MUNCH ambitions and aims, I noticed how the altruistic efforts that the MUNCH project makes causes an impact. I read about having a COVID 19 Emergency Fund which aims to help and support our frontliners who are battling every day with an unseen virus. In other parts of the world, they struggle and they lost in the COVID 19 battle. Countries like India are in the news headlines about how they lack hospital rooms and equipments. Do you plan on helping countries like this fir global expansion to extend the overwhelming impact of $MUNCH?
Being a community driven project, what are your plans to expand your community for the project MUNCH expansion? In what other ways will you get the community’s trust other than donating a part of each transaction to charities of their choice? How will you establish good relationship and transparency between MUNCH and the community?
The next item on your roadmap is “First Digital Advertising Campaign”. How will you carry out this goal and what will be your preceding steps and measures to make this happen?
2021 Q3 is very fast approaching and you listed it that you wanted to Register legal entity in Europe. What is the reason for this since this project is digitally constructed. why planning to make registration in europe and not other continents, is this project only meant for the users in europe? What will be the outcome of this registration?
Transaction fractions are automatically collected, converted to ETH, before being sent directly to the recipient’s address, creating an entirely automated and trustless ecosystem. What is the reason behind for you to choose Ethereum Blockhain as your solution? I believe right now most people won’t be able to invest/donate to $MUNCH with high Ethereum gas prices. I also checked your roadmap and couldn’t find anything about other blockchains to be supported or not. Do you plan to add other blockchains like Binance Smart Chain for allow more people to invest the project?
3M in one month is really big number. I see on your website this month’s charity is: Yellow Brick Road Project. Who decides for the charities to be listed on the project? Do community have any vote power about the project to be chosen? Also are there any governance privilege for $MUNCH holders?
New projects are donating or saying they will do donations to charities in their countries, such as the environment, animals, chronic diseases, etc. to get community support. You initially stated your purpose, saying that the thank you and donation part will not be kept in the wallet and will be transferred. Why will you keep and send it as ETH? Why isn’t $ MUNCH? Do you have any doubts that your token will not be listed / traded?
The new projects say they will make donations to charities such as the environment, animals, and chronic diseases in their countries for community support. At the beginning you stated your purpose, thank you and said that the donation part will not be stored in the wallet and will be transferred. Why will you save it and send it as ETH? Why not $ MUNCH? Do you have any doubts that your token will not be listed / seen?
The Munch economic model is such that, when a user buys MUNCH tokens through an exchange, a 10% transaction fee is deducted from such transaction, consequently splitting the transaction fee between MUNCH token holders and the community recommended charity of choice (5% each). This current model was modified from a previously adopted model, after a community agreed consensus. Therefore, what are the guarantees that this current economic model would be susbstainable as well as economical, how is the 5% fee consequently sent and distributed to the deserving charity, and what other way is the community rewarded for trading and holding on to their MUNCH tokens?
In Q3 2021, Munch plans to develop and implement a host of interesting products, features and events, ranging from expansions, a new website launch, launch of a governance system and charity voting webapp, partnerships (both corporate and charity NFT partnerships), listing on a tier-1 exchange, and a host of others. These events scheduled for Q3 in question, are some of the core and defining features of the Munch project. Therefore, can you briefly shed more light on some of the above mentioned events, particular those centered on partnerships, development and the new governance system, and how will Munch efficiently implement them?
Hi Munch!
I am interested to learn how economics works with the high 10% fee you set. To generate those fees I assume you need a steady influx of new users joining the project, is this number growing steadily? How do you attract new potential adopters, since when they purchase tokens users will have to pay high ETH fees in addition to the 10% MUNCH fee which could eat up a big portion of the user’s original investment.
Hi Munch!
Munch has a very noble goal of giving back to the charity organizations and making the lives of needy better. How do you select the donation organizations worthy of the substantial donation? Do you have a community DAO system where holders can vote? What voting system do you use, does it prevent whales from unanimously deciding the outcome as well as flood of single token fake holders affecting the result on the other end of the spectrum?
Hi Munch!
Munch has a great track record of donating large sums to several charity organizations already. How can the holders be assured that the donations are spent as intended and not squandered? Do you further monitor how charities spend donated funds and reports back to the holders?
$MUNCH transaction fees are redistributed between
your users and the causes they support.The Yellow Brick Project is the second charity supported by MUNCH, following GiveWell which received over 735 ETH from MUNCH transactions, sold for over $2.2M USD. So can you tell us why did you decide to support some charity? How did your platform choose which charity to support? Aside from transaction fees being redistributed to causes charity,can any users or investors in your platform can directly donate to the choosen charity? Thank you
Munch uses Unicrypt to maintain value of $MUNCH token and protect the community. So why does your platform choose to trust Unicrypt with the locking of $MUNCH token Liquidity? Can you tell us the win-win benefits you have for Unicrypt? How many months or years does Liquidity being locked? Thank you
The Yellow Brick Road Project has been selected as latest charity partner. The Yellow Brick Project has been selected to receive donations from all MUNCH transactions. Which companies did you consider for partnership, what key points in their activities did you pay attention to and why did you choose The Yellow Brick Road? What other companies were chosen and what is the peculiarity of such an alliance?
For the third quarter, you have Listing on a top 10 crypto exchange scheduled. Can you name these exchanges and for what month do you plan your first listing?
I read that Munch project is a ERC20 token which have 10% fees for each transaction, may i know does 10% fees include fees from ETH network? Can you tell us what are the function of Munch token?
Munch project is a charity project, can you explain what kind of charity do your project run? Do you have someone criteria for the charity or its all random charity? If you have someone criteria, can you share with us what criteria do you have for your charity event?
How will Defi token create a parallel financial system, and how will they enable application to run network infrastructure when they are not yet don creating the new expectation for transparency with significally low cost and fast processing?
I read that Munch just announced new program Munch Million Lottery Draw and weekly Lottery draw for holder.Can you explain the detail about this event, how user able to participate? Also you just announced about ‘Charity LaunchPad’, what user able to do in your charity launchpad?
How did MUNCH usually offers a unique financial model that rewards its community and distributes resources to were they are needed?
Many tokens have something that makes them unique compared to their competitors, what are the key uniques for MUNCH in the charitable crypto space?
To be successful it takes not only hard work, a great vision, and great supporting cast but also a little luck. Can you explain how these aspects have shaped MUNCH this far and discuss how the team will continue to succeed moving forward?
The MUNCH team has been completely forthcoming in several ways, the team is known, when mistakes occur they have admitted them to the community…..why has the team taken this approach and what value do you see this bringing when many other tokens often opt for anonymity?
What about blockchain bridges? Do you plan to provide any?
When is launch and what platform will it be launched on? Binance smart chain?
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