Welcome to another episode of our AMA
series. Today we are glad to tell you about the AMA session with our friends
from OH! Finance . The AMA took place on July 15 and our guests
were Rick (Chief Marketing Officer) and Mason (Tech supporter).
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.
Mary | Satoshi Club: That’s
great! Let’s start our party! Could you please introduce yourself and tell us
what is Oh Finance?
Rick – Oh! Finance: Technically
Chief Marketing Officer — but I do a little bit of everything. I’ve got a
background in dev/test, and a deep background in blockchain — so I do a little
bit of everything.
Mary | Satoshi Club: How
long are you in crypto?
Rick – Oh! Finance: That’s
actually a big chunk of our team — we overlap all over the place which is
fantastic as it keeps us in check!
Mason – Oh! Finance: and
I’m one of the principals on the team, supporting the biz process/tech
support. Rick and I started dipping our
toe in by mining back in 2012/2013.
Gold Rocket | Satoshi
Club: Yes, when you start a project, sometimes you have to be a
multifaceted person.
Rick – Oh! Finance: Do
More with Your DeFi Dollar. Simply put — the yield landscape is hard.
DeFi should be easy and accessible. Oh! will be making yield
accessible to every person — from the whales and crypto degens — to people like
my uncle who has no idea what USDC or Metamask is.
Gold Rocket | Satoshi
Club: Also we would like to know about your team. Who is on the project
team core?
Mason – Oh! Finance: Beyond
Rick and me, we have two other named core devs, along with additional
graphics/dev/marketing resources and a broad team of advisors both in the
crypto and cybersecurity space.
They cover some of our core partnerships as well to help
round out the approach for Oh!
Gold Rocket | Satoshi
Club: I love that you are not anonymous. For the user, this is attractive.
Mason – Oh! Finance: We
think it’s important too, it’s what I would want in a product that I’m putting
my hard earned tokens into.
Gold Rocket | Satoshi
Club: How long does it take to develop a project? What plans do you have
for the future? And what can we expect from Oh Finance?
Rick – Oh! Finance: Our
most immediate future plans is our upcoming IDO (details to be announced), as
well as Token Generation Event (TGE), however our next platform goals are to
launch as one of the first yield aggregators on Avalanche blockchain and to
make the bridging process as seem less and invisible as possible to the end
user.
After that, it’s beginning to build out new strategies,
introduce more DAO votes and DAO concepts, as well as, launch new yield
opportunities — with simplicity and security at the core.
Mason – Oh! Finance: It’s
been many months in the making, and timing is important in Crypto, as you all
know. Partnerships take time to nurture
and develop, making sure that we have similar visions, establishing advisors
that are there to support longer term, and not just looking to make a quick
buck.
With a public team, we need to have longevity built into the
approach, and make sure that the product is heavily reviewed through audits,
and have the right supporter/influencers to tell the story the right way!
Q1 from Telegram User
@kimzyemma
One of Oh! Finance
goals is that user CAN DO MORE WITH DEFI DOLLARS which seems so confusing, oh!
claimed to be DECENTRALIZED FINANCE and yet still stated that we can do more
with dollars which is a government-issued currency that is not backed by a
physical commodity, such as gold or silver, but rather by the government that
issued it. What is the probability that Oh! Finance will move forward since
there is no total governance by the team. Your research also proved that 99% of
DeFi projects are building for crypto natives. 1% are building for the
mainstream, non-tech savvy. What do you think about projects rushing into
crypto natives and you going in the other way round?
Mason – Oh! Finance: So
I’m going to challenge the assumption that 99% of projects are built for crypto
natives! The biggest groups that we have
seen show interest in market research are the ‘use case’ of people who are
realizing that savings accounts don’t even beat inflation.
Banks effectively take your money, and do nearly the same
thing that DeFi is trying to accomplish, through instruments the average user
simply doesn’t have access to! So with users who have money in savings, or
equities (stocks etc.) and want to have a better return, they are certainly
looking into the CeFi products of the world, Nexo, Blockfi, Celsius – but as
they dip their toes in there, the broader DeFi options start to come to light!
That being said, putting money directly into BTC/ETH/BCH and
others brings additional volatility. So
USDC does bring a level of ‘security’ given coinbase backing and a known
quantity, would we like to see other options that USDC? Sure!
If you all have done adoption and change management, change is hard! So
some of the steps need to be incremental, Love the question!
Mary | Satoshi Club: So,
you tell us to bring our money to Oh Finance instead of bank, right?
Mason – Oh! Finance: Oh!
is trying to help provide a simple interface that doesn’t require moving
between blue chip defi products, and the fees and complexity needed there,
while outperforming yields! I wish we were ready for that now! For now, I think of Oh! as an alternative to
a savings account.
Mary | Satoshi Club: Did you already test your interface on
your friends or moms, for example?
Mason – Oh! Finance: Got
to keep up with record inflation at least!
Rick – Oh! Finance: Taking
on the banks will take time — there’s a paradigm shift that is occurring most
broadly — we hope Oh! helps shove that along further and faster.
Q2 from Telegram User
@meml97
I read that Oh!
Finance aims to make a difference in the DeFi space by achieving a consistent
10–21% APY on stablecoins, with additional rewards earned in OH tokens. Can you
tell us more about this? Other DeFi platforms offer to people a 1-10% APY,
which could change depending on a lot of factors, but you, on the other hand,
are attempting to have a consistent 10-21% APY, how will you be able to do
that? How will Oh! Finance be able to reach a consistent % while having a
really high % if we compare it to the APYs other platforms offer? Other
platforms haven’t been able to offer this % of APY before, is there any risk
you are taking here in order to be able to do so?
Rick – Oh! Finance: Great
question, and candidly with the market crabbing the yields have dropped a bit
from those advertised peaks (more demand for lending creates higher yield),
however we are still seeing yields in excess of 10%+. Of course there is always
risk (we’re attempting to mitigate that risk through good audits and insurance)
as well as a strategy that is based on stablecoin volatility across a defi
index of lending products.
Through the use of auto compounding, intelligent gas logic,
as well as, rebalancing we can have a yield that is something we are proud of.
Mary | Satoshi Club: When
we will be able to try this in live version? Will you start with beta?
Rick – Oh! Finance: We
plan to start with beta, tentative timing is next month!
Mary | Satoshi Club: If
market will drop more are you sure that you will be able to fulfill all
promises including 10%+ APY or it can be lower?
Mason – Oh! Finance: First
off, there are no ‘promises’, and of course there are always external
factors. Anyone who would tell you
otherwise is likely not truthful.
That said, volatility itself tends to actually lead to
higher performance, and part of our slogan is to ‘Be Ready for the Bear’,
meaning that USDC and stablecoins provide some volatility protection to
non-stable assets. APYs have to reflect
the base tools, but the product can outperform the underlying rates through
strategy.
Rick – Oh! Finance: However,
we will strive to get the highest APRs possible which involves paying close
attention to ecosystem rewards (such as MATIC for MATIC summer) — so that will
always help as new chains and new yield opportunities launch. Our team is well
adept at working across multiple chains — it’s all about making that bridge
near invisible that will be crucial here!
Mason – Oh! Finance: Markets
will drop and rise, and catching falling knives isn’t fun. It’s definitely a reason I’m so heavy into
DeFi along with the other networks that allow for the continued expansion
across the globe.
Q3 from Telegram User
@h1drX
Users deposit funds to
earn APY and get rewarded with Oh! Finance Governance Tokens. Can you tell us
about the OH token use cases? Once users deposit their funds to earn OH tokens,
what are the profits that can be given to the token? Also, where can we buy the
OH token? Is it listed on any DEX?
Rick – Oh! Finance: The
OH! token is a multifaceted token. Holding the token will allow you to vote in
governance (as you would expect). Those votes include refining strategies,
adding networks, etc. Additional, similar to the NEXO model holding tiers of OH
tokens will enable a boosted APR. This is a tried and true model helps set a
token floor. Finally, protocol fees go into buying back and burning the token.
Additionally, a portion of those fees will go towards providing insurance
liquidity on bridge mutual!
Mary | Satoshi Club: Which
fees will your protocol have? What will your users pay for? Will OH holders
have fees discounts?
Rick – Oh! Finance:
Prior to yield earned, users will not see any fees beyond
the stated APY. Fees are built into the protocol on the yield earned.
Q4 from Telegram user
@Cheriemike
In your Roadmap Q3, you
plan to launch Defi Index on your platform. What is this Defi Index? What is
the aim and function of the Defi Index on OH! Finance? What are the criteria of
the Defi Index and can you tell us how the Defi Index is maintained? Thanks.
Rick – Oh! Finance: So
this is an extension of the yield defi index. So at launch our platform will
rebalance on the many lending protocols; ultimately, like a mutual fund, we
want to offer staking and earning against a large cap defi index.
So the super simplistic way of looking at this is like the
QQQ on the stock market. super well known with people that invest (that are
non-crypto) people — trying to create a similar vehicle inside of DeFi.
As for how it’ll be maintained — still building this concept
out to be perfectly honest. We expect there to be a DAO component here — voting
on which DeFi offerings should be in that index and how we can build strategies
against it. This would be usdc in > gets rebalanced against all the defi
products inside that vehicle > yield out.
Mary | Satoshi Club: Gotcha!
So, it will partially depend on your community decision.
Rick – Oh! Finance: It’s
a roadmap item. Something we are excited about, but not the ‘primary’ focus at
this time. We have big plans to take on the banks and traditional mutual funds.
The goal is to get companies to more broadly figure out how and where they
invest their 401Ks etc.
There’s a “meme” in the space that there’s no
point in Governance tokens — but I think Sushiswap and Maker Dao might
disagree. They just haven’t been done right to this point. You have to truly
give power to the token holder to ensure there’s value in that vote.
Q5 from Telegram user
@ysasoma
Can you tell us about
the security measures you have put in place to keep your community safe,
knowing that there are projects that even being audited have been attacked and
have lost the assets of their users, what else is being done in OH! Finance to
maintain security and prevent attacks?
Rick – Oh! Finance: The
two biggest are securing the best auditors. Halborn (and soon Qunatstamp) are
literally the best in the business. I could be wrong, but I don’t believe one
of them has been behind an audit of an exploited protocol. Secondarily,
INSURANCE. We’ve done a lot to ‘learn from the mistakes of others’ as the
contracts are concerned and to make sure we follow every best pattern and
practice that exists — to minimize as much risk of exploit as possible.
But with all things defi — we can make no guarantees —
anyone that is saying otherwise is lying. So offering an insurance interface
directly on staking is unique to the space and a critical missing piece. It’s
why banks have FDIC, and why you buy homeowners or car insurance.
Bridge Mutual, Mike M. is one of our core advisors!
Mary | Satoshi Club: Good
choice! Which advantages did you find in this collaboration? Why didn’t you
choose CertikShield, for example?
Rick – Oh! Finance: Usability
— BMI has an API that enables in-app directly from our interface insurance
offering.
That’s first of its kind in the insurance space. Buying it
and using it should be easy.
Q6 from Telegram user
@ItsMelissa3
A few weeks ago Oh!
Finance announced a challenge: The #OhNoChallenge, where the community had to
show you a picture of their bank’s APY for a chance to win. It is a very
original challenge. How did you come up with the idea for this challenge? Do
you plan to do more challenges like this soon? It is a very creative way to
involve the community with the ecosystem.
Rick – Oh! Finance: I think we need to run this challenge again —
we did it too soon! We’ll be doing some fun meme and sticker competitions as
well. How we came up with it: banks stink — defi is the future.
Mary | Satoshi Club: Do you
have stickers?
Rick – Oh! Finance: Not yet! Our designers are working on our onset
as we speak.
But the community obviously makes
fantastic things too! So we’re excited to see what our Oh! community can dream
up.
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.
Q1 from Telegram user @Tony253210
I’m an active user of stablecoins pools, like curve, so can you explain
us what are the guarantees or unique opportunities that you offer me to change
them for you?
Rick – Oh! Finance: We
aren’t trying to replace curve. We want to leverage curve. Curve will be one of
the lending protocols we compound into. The issue with ‘just curve’ is it
misses peaks and valleys from other protocols — it also puts all the protocol
risk in ‘one bucket’ Adding to that, I’m a big user of curve myself.
Q2 from Telegram user @JoxesXIII
Is USDC your flag token as a lending asset or could you include other
stablecoins such as DAI and USDT in the coming weeks / months in such a way
that the deposit options are more flexible and thus earn the same% APY more or
less, regardless of the stablecoin used?
Rick – Oh! Finance: Roadmap will see USDT and likely DAI, but at
this time USDC is the most accessible, as well as, the most collateralized
stablecoin (lingering issues with USDT). We want the ‘normie’ to vault — USDC
is the most normie friendly.
Q3 from Telegram user @ethcypherpunk
What are the ADVANTAGES that Oh Finance has over other known in the
sector such as YEARN Finance, RARI Capital etc?
Rick – Oh! Finance: Interface and usability. As well as risk
mitigation through have a defi yield. Insurance as well. But usability
usability and usability. Click, vault, done.
Q4 from Telegram user @victorogb
Talking on the Oh Finance insurance services to be rolled out in the
coming days, what categories of insurance products and cover would be made
available to the community?
Rick – Oh! Finance: You can insure your vault. So if you vault
$1,000 to earn interest and you choose to insure your USDC and a protocol
exploit occurs your $1,000 will be returned via Bridge Mutual.
Q5 from Telegram user @nguyenben
What is the strategy that Oh Finance offers to attract users and
increase token value?
Rick – Oh! Finance: A true governance token that actually
incentivizes multiple DAO aspects. Think of owning your own bank. As well as, a
holding requirement for additional yield!
Q6 from Telegram user
Rick – Oh! Finance: We’ll be launching on Avalanche — our IDO
partner hasn’t been announced, but will be announced soon. We should be the
first or one of the first yield aggregators on the Avalanche blockchain.
Q7 from Telegram user @doithay1617
Staking is going mainstream, how does Oh Finance make it easier?
Rick – Oh! Finance: Making the user interface as plain and simple
to use as humanly possible. We’ve spent a tremendous amount of time building
welcome and education bots (as just one example)
Q8 from Telegram user @sweetdoge
Hello @RickOhFinance When do you think your uncle will start using
crypto?
Rick – Oh! Finance: Hopefully with Oh! Yearn, Vesper, Harvest, etc.
all scared him. It was too hard to use and ‘didn’t make sense’
Q9 from Telegram user
Rick – Oh! Finance: We’re a doxed team with backgrounds from
Microsoft, Amazon, and Oracle. We’re putting our reputations on the line here.
Q10 from Telegram user @vedamatrix
Why USDC coin is important this Oh Finance? Why not create your own
stable coins?
Rick – Oh! Finance: Algorithmic stablecoins are dangerous, and USDC
(and USDT and even DAI) are already established. No need to reinvent the wheel
there. Reinvent yield. Not stablecoins!
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about OH! Finance. A link to a
Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$
were distributed between the winners.
For more information and future AMAs, join our Social Media
channels:
We were delighted to welcome our guest from Olympus. The AMA took place on July 17th, 2021 and our guests were @gabefather @pathfinderzips @John_Tools!
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
Today our
guests are from Olympus: @gabefather @pathfinderzips @John_Tools!
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Hey
guys! Good to be here!
Mary Satoshi Club: Welcome here 😀
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Its
awesome to be here. @John_Tools is actually away this weekend, but me and gabe
are here and super exicted. You guys do the best AMA’s by far.
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club,
guys! Thanks for joining
Mary Satoshi Club: Awesome 😎
Gold Rocket | Satoshi Club: We are also very excited about the
upcoming AMA.😍
Gold Rocket | Satoshi Club: Let’s start!
Introduce
yourself please. How did you get to be involved in crypto & Olympus?
Gold Rocket | Satoshi Club: Tell us please also about your
position in Olympus?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
So I’ve been involved in crypto since college back in 2012. I wish I knew what
happened to the bitcoin I held lol. Then again heavily in the 2017 bull run.
But when it comes to BSC I got involved back in February. I’ve known and been
friendly with JohnTools since BogTools launched. I was a launch buyer. I went
on to help run the animal charity coin Bingus, as it was a community coin but
needed someone to manage the charity wallet(which is relaunching with a new
contract, very long story). John helped quite a bit there with a few things.
Through
running that I came to meet Gabe through an odd series of events and come to
respect him and we saw eye to eye on a number of things. Through talking with
John about some ideas about a new contract for Bingus, we came up with a ton of
the ideas for Olympus accidentally. Then I had John and Gabe meet and well…
They got along and they started working together on what would become Olympus.
That was about 8 weeks ago now I believe.
I’m basically the community manager at
Olympus. I’ll be the one you interact with most in the chat, relaying messages
from the team working on things, and sending messages back to the team from the
chat. You’ll often hear me in the voice chat answering whatever questions I
can, or just hanging out with the community.
TheGabeFather (WILL NOT DM FIRST): Hey, Gabe here, I am the head of
marketing for Olympus. I became involved in Olympus after meeting John, and we
decided to become the main devs for Olympus. I became involved in crypto mainly
when BSC started to become popular, and after seeing the power that BSC gave to
smaller investors I became even more interested in being involved in its
ecosystem.
Mary Satoshi Club: Oh, 2017🤣
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Yup!
that was a wild ride hahaha.
Mary Satoshi Club: Did you thank Olympus gods for your meeting?🤣
Mary Satoshi Club: Yes, but actually 20-21 also were wild till now🤣
TheGabeFather (WILL NOT DM FIRST): Haha absolutely
Gold Rocket | Satoshi Club: What is the essence of Olympus?
Gold Rocket | Satoshi Club: Main idea😊
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
Ill snag this one Gabe.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: In
short, the too long didn’t read, Olympus set out to innovate on all the best
tokenomics that BSC has to offer, take them all a bit further and be a utility
coin for coin teams as well.
Olympus is
first a BUSD reflect coin, it was the first of its kind actually. It reward
holders in BUSD(4% tax) right to their wallet, just for holding.
It is also
a whale buyback coin, as there is about 700 BNB our whale, who we like to call
Zeus(4% tax). The whale buyback can be triggered both manually or through some
clever programming by JohnTools, as it is using BogTools tech to do it’s
automation.
Another
thing that makes our from scratch written contract unique is the Dynamic Auto
Liquidity(4% tax). When liquidity is above 25% of the market cap the liquidity
tax flows instead to the whale, rather than liquidity. So right now Zeus is
getting 8%, rather than 4% which is fantastic.
Finally,
the last thing is our Hades Tax, after Zeus makes a buy the taxes are doubled
for sellers for 30 minutes. This is to stop bots (and others) from simply using
Zeus buys as sell events, which could quickly drain the whale. So when a large
holder trys to dump during a Zeus buy… well Zeus gets 16% and all holders are
rewarded with 8% BUSD reflect instead of just 4%.
On top of
all that we have utilities for coin teams coming, a clever liquidity locker, a
vesting tool and also some beautiful greek god NFTs which will allow for
gamification of tokenomics for holders, like controlling the Zeus buyback!
Mary Satoshi Club: So many gods features 👏
Gold Rocket | Satoshi Club: Thanks for the great introduction,
we will have a question selected for the Part 1. Ready to start?
TheGabeFather (WILL NOT DM FIRST): Yep 🙂
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Ya
some really fun and cool stuff coming. For sure bring on questions! 🙂
Gold Rocket | Satoshi Club: just introduce us to these features
in more detail 😉
Q1
from Telegram User @NataliyaKil
According
to the roadmap, you plan to launch three Pillars in the coming months:
1st
Pillar: Locker of Ananke,
2nd
Pillar: Wheel of Kronos,
3rd
Pillar: Shield of Athena,
4th
Pillar: Lightning of Zeus.
What are
Pillars in the Olympus ecosystem, what features and implications do they have
for the project, team and different categories of Olympus users? How many
Pillars are planned and what does their number depend on?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
Would love to.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: 1st
Pillar: The locker of Anake will allow teams to lock the liquidity raised from
their IDO in an innovative, safe, and transparent way. Instead of simply
locking the liquidity through a classic smart contract, the Locker of Anake
will store and lock the liquidity within an ERC721 token (NFT), allowing his
owner to move it from a wallet to another and always keeping the unlock
schedule.
It will
also allow projects to split the locked liquidity into multiple NFTs held by
different team members. That feature is not only convenient for teams so they
can share the liquidity’s responsibility in case of a wallet loss/hack but also
very convenient for investors who always fear the moment the liquidity unlocks.
Indeed, having the liquidity split assures investors that one single person
cannot rugpull an entire project.
Moreover,
if the project is transferred to a new team, the previous liquidity owner(s)
can sell the liquidity to the new team.
Believe me,
as someone who has locked liquidity before on DXsale, as I’m sure Gabe has felt
as well, this methodology will be wildly more effective. It’s one of those
things we as people who have worked on coins have seen time and time again that
we needed.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: 2nd
Pillar: The wheel of Kronos allows a project to vest tokens for teams,
influencers, or anyone of their choosing to have them automatically locked and
doled out based upon a pre-defined time frame.
Same as the
Locker of Anaka, the Wheel of Kronos will store and vest the specific tokens
within an ERC721 token (NFT). That way, team members/influencers can transfer
their vested tokens from a wallet to another and or even split them into
multiple wallets.
I believe
this is going to be a groundbreaking tool. One of the largest issues in crypto
right now is influencer marketing. This tool will be available to let teams pay
influencers in a transparent way over time, and allow holders to track the
funds. For example the SaveTheKids disaster could have been avoided if there
was an expectation for teams to pay their influencers using the Wheel of Kronos
so that holders could feels safe that the influencers actually were interested
in the coin, not just dumping on their fans.
Mary Satoshi Club: Really useful feature! Do you already have
those who want to lock liquidity using it?😀
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Well
actually… yup. A few people I’ve talked to would like to use it. Including the
dev behind the new version of Bingus. 🙂
Mary Satoshi Club: We love Bingus🤩
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Utility
is truly the way forward to survive a future market that may not be purely
driven by hype.
Gold Rocket | Satoshi Club: By the way, they were at our AMA.
Good guys 😁
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Aw
thank you.
Mary Satoshi Club: Cool idea👏👏👏
Mary Satoshi Club: I like this, sure it will be using often👍
Gold Rocket | Satoshi Club: 3rd Pillar?😉
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Finally
the last two that we have announced are more fun for holders, gamifcation of
our tokenomics.
Mary Satoshi Club: Wow🎉
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: 3rd
Pillar: Acquiring the Shield of Athena NFT will protect you from the taxes for
one single purchase.
Make the
right call and get the shield of Athena to turn a 14% purchase fee into a
tax-free buy. 😉
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: 4th
Pillar : The Lightning of Zeus NFT will grant you a unique chance of
controlling Zeus’ power. You will be able to trigger one whale buy with this.
Mary Satoshi Club: How it will look in practice? Can you give us
an example?😀
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
So the plan as of now is that not ALL of the NFT’s sold will have these
abilities unlocked. We don’t want sell the NFT’s only to the very wealthy, we
want to give everyone a shot. So some will randomly, and very rarely have these
abilities enabled. So they will be sold for BNB, which will flow into Zeus,
which will be used to buy back and burn the coin.
Having the
shield in your wallet for example, that has the ability enabled, will allow
that wallet for one buy with no or extremely reduced taxes.
Mary Satoshi Club: Gotcha, really cool🔥
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: The
Zeus NFT triggering the whale buy will likely need a little more of finessing,
user expereince/ interface-wise. Which it will deserve, as that might be the
coolest thing ever as a holder, triggering a whale buy.
Mary Satoshi Club: Guys, you have well thought and hot Pillars!
Mary Satoshi Club: Thank you for your clear and detailed answers!
Ready to proceed?🚀
TheGabeFather (WILL NOT DM FIRST): yes!
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: For
sure! Ill let @gabefather handle the next few 🙂
Q2
from Telegram User @DK177
According
to your roadmap, you have planned to reach 10,000 holders mark within this
month. How many users have currently joined with you? Your goal is to make
50,000 holders by August and 100,000 holders by September. Even if you reach
10,000 mark in this month, you have to make it 10x within two months to achieve
this goal. Do you think this is an achievable target? What steps have to
already taken to attract the holders? What makes us to hold your token over
other tokens? Have you introduced any special rewards for holding $Olympus?
TheGabeFather (WILL NOT DM FIRST): Currently in our telegram we have
about 16,000 membhers 🙂
Yes we
definitely think it’s achievable, with most of our developments being released
in the near future and many other exciting announcements taking place we hope
that it will really benefit us. In general, our tokenomics, NFT development,
contract developments, marketing, as well as partnerships have really been
released fast, and we believe this has attracted the most amount of people so
far. Olympus is a token that has been designed to be a long term hold, with
large tax fees, BUSD reflections, and the Zeus buyback to store BNB that will
later reward long term holders. The most special reward that we currently have
implemented into Olympus is the BUSD reflection, and with the release of new
developments we can expect larger volume, meaning larger reflections.
Mary Satoshi Club: But if cryptowinter will come? Usually in such
periods activity is low😀 do you have plans for cold times?
TheGabeFather (WILL NOT DM FIRST): Haha yes for sure. Our constant
developments will be the key here. NFTs that boost volume, exclusive events,
and prestigious centralized exchange listings
as well as a dedicated team!
Mary Satoshi Club: You will shake this times🔥 i got🤣
Mary Satoshi Club: Thank you for your answers! Ready to jump to
the next question?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: If
there is indeed a cryptowinter (good term), I believe people will still want to
launch new coins, maybe less, and less pure hype coins, but with our utilities
I can see the coin being able to survive such a colder time in crypto.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: For
sure! 😊
Q3
from Telegram User @andrey_seleznov
I’m
Intrigued by the phrase you dropped on the website “a Pantheon of NFTs are on
their way down from Elysium.” Please share with us some detail about your
excinting plans involving NFTs! With Zeus and Poseidon depicted can we expect
most or all of the NFTs be based on the Greek mythology? Are you planning to
develop your own NFt marketplace and will the NFTs have functionality and real
use cases like boosting reflection and pool yields and such? Thank you!
TheGabeFather (WILL NOT DM FIRST): A marketplace not so much. Rather
the gamification of NFTs built to interact with our contract. Each of the NFTs
released will have a specific and special functionality that interacts with the
contract in a unique way. Everything from boosting reflection, reducing fees,
influencing Zeus, and possible combos that all can be achieved through owning
the NFTs. It is really a cool feature that will make Olympus stand out from
other tokens in the near future.
Mary Satoshi Club: Can you show us your NFTs?😀
Mike – Bingus – Olympus (formerly MJ) I WILL NOT DM YOU FIRST: ^ Exactly. And as such heres a little sneak peak at the Lighting of Zeus NFT that can trigger a whale buy. Its still a work in progress but for your community we can show it off a little early.
Mary Satoshi Club: It looks so powerful 😍
Gold Rocket | Satoshi Club: I love this one
Mary Satoshi Club: Will they be burned after they triggered?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: As
far as the plan goes now, the abilities, indeed, most are planned to be single
use. However the art will still be your NFT to keep.
Mary Satoshi Club: Awesome!🚀
Gold Rocket | Satoshi Club: Thanks for your great answers 😃
Mary Satoshi Club: Thank you for your answers! Ready to go to the
next question?🥳
TheGabeFather (WILL NOT DM FIRST): ready here
Q4
from Telegram User @lgy0813
the busd
of the dividend pool is drawn from the pool. If the giant whale enters the
game, will he suck all the busd of the dividend pool?Only with constant
transactions can the project’s mechanism be more attractive. Entering the Giant
Whale will increase the value of the coin, but the dividends may be reduced for
those who hold the average share. If the project cannot enter people , How does
the project carry out the project value promotion? Will the project party
participate in the promotion?
TheGabeFather (WILL NOT DM FIRST): Definitely not. In fact with time
your percentage becomes more impactful due to our high burn rate funny enough.
The more that is burned, the more your percentage becomes valuable, and thus
the more you earn in BUSD. Whales help increase volume, and thus burn rate, and
will never be able to buy enough to impact your percentage that much. There
will always be supply and demand, as well as redistribution/accumulation of
tokens in general, so through the natural market sentiment, as well as the
release of our developments, this is how we plan to sustain new buyers, as well
as volume in general.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: We’ve
actually already burned more than 20% of the supply though Zeus buyback and
burns. Which has increased everyone’s overall share quite a bit.
Mary Satoshi Club: What is your token ticker?)
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: OLYMPUS
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: We
went for the full word 😊
Mary Satoshi Club: Where we can get it now?😃
Gold Rocket | Satoshi Club: By the way, share your tokenomics.
TheGabeFather (WILL NOT DM FIRST): Pancakeswap, Bogswap, and
Poocoinswap!
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Currently
its on Pancakeswap, but in the near future we should be listed on a CEX.
The easiest
way to buy or sell though is though our website. Olympustoken.io as it has
bogswap embedded in it.
TheGabeFather (WILL NOT DM FIRST): as well as 1Inch DeFi aggregator 🙂
Gold Rocket | Satoshi Club: sounds good👍
Mary Satoshi Club: Ohhh, perfect!
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
4% tax for
BUSD reflect (Plutus)
4% tax for
Whale Buyback (Zeus)
4% tax for
Dynamic auto liquidity which flows to Zeus when not needed (Posiden)
2% for
marketing and dev fund
All of
these are doubled after a Zeus Buy Back (Hades Tax) for 30 minutes which is to
discourage people from simply selling the whale buys. And if they do, well
holders just made 2x BUSD for 30 minutes 😉
Gold Rocket | Satoshi Club: Great! thanks for sharing 😉
Gold Rocket | Satoshi Club: Ready for the next question?
TheGabeFather (WILL NOT DM FIRST): yep!
Q5
from Telegram User @NSZR1
On the
Godnomics of your project a 4% of each transaction will be used by The God of
Wealth, Plutus to reward the worshipers of Olympus, rewarding their fate with
4% of each transaction wich will be converted to BUSD and sent automatically to
the wallets of the followers of Zeus. I would like to know how this system of
mercy of the gods will work, these rewards given to the followers of Olympus
will be granted immediately, daily, weekly or monthly? I would also like to
know why the gods decided not to give these rewards in the form of $ OLYMPUS?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Sure!
These rewards are triggered automatically to a holders wallet once they hit 1$
in BUSD. So it could be hourly, daily, weekly, or monthly depending on how much
you hold and the volume. The reason the contract waits until 1 BUSD to send is
that it needs to be worth the gas fees to send.
We have a
dashboard coming VERY soon which will allow you to see your rewards and trigger
them yourself if you wish. It will also allow you to see the current Hades tax,
how much BNB Zeus has stored, and the ability to re-invest your BUSD
reflections to compound them.
Finally,
the reason we chose BUSD is that most of the time, reflections of the coin
you’re holding is just a psychological trick to get you to hold. The coins
you’re getting are just a way to trigger some dopamine in your brain so you
don’t sell. And to get any real value from the reflections you have to sell
them. We figured, let’s cut out the manipulation, and give holders real value
in the form of something never done before. BUSD reflections
Gold Rocket | Satoshi Club: this is very smart😁
Mary Satoshi Club: As i understand you already started this 4%
distribution, right?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Yup!
Since launch I think we have had about 900,000 in BUSD reflections.
Mary Satoshi Club: Wow, nice number!
Mary Satoshi Club: And what is usual time of distribution now?
Weekly?
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: If
you have a small amount, it may be weekly, larger it could be hourly.
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: Depends
on when you breech the 1 full BUSD in rewards.
Mary Satoshi Club: Gotcha! Thank you for your answers! Ready for
the 6th and last question from this part?😃
Mike – Bingus – Olympus (formerly MJ) I WILL
NOT DM YOU FIRST: For
sure! Lets do it 🙂
Q6
from Telegram User @MCBTrade
While
examining the OLYMPUS project, I saw that you have completed many stages in
less than a month and have a very fast development process. DappRadar You have
already reached several milestones, including a CoinMarketCap listing, a
pre-listing on CoinGecko, and a set of 6,000 token holders, and it’s a great
start to have many events back-to-back such as Banner ad, Meme Contest,
Influencer Support, Social Media campaign. To what do you owe such rapid progress?
What is the share of factors such as the experience of your team and the
dynamism of your community in this acceleration of progress? What are the
differences between you and projects that cannot do in a year what you do in a
month?
TheGabeFather (WILL NOT DM FIRST): Our team is built of a lot of
experienced individuals to say the least. Our combined knowledge and
connections are the biggest contributing factor to having these speedy results.
I guess our main difference is that we strive to do projects that will last in
the future, and we do our best to maintain our reputation within the community
by creating ecosystems where everyone has a fair chance of being a part of our
projects.
Mary Satoshi Club: Do you have some partnerships now?😃
TheGabeFather (WILL NOT DM FIRST): Mainly we have been branching out
with influencers as well as other platforms, and are still working on details
with a few of them, but shortly put we are open minded and are always striving
to have more partnerships.
Mary Satoshi Club: We will wait for exciting news from you👍
Part 2 — live questions from
the Telegram community
Q1 from Telegram User @surendra040
Many projects are being abandoned once they start with good impression and some of the projects couldn’t long last run.Does your team have an experienced team background and how big is your team?
TheGabeFather (WILL NOT DM FIRST): Yes, we all have been part of projects that we still are working on. We know what it takes to be in the hard times of a project and just keep on working. And by all means we will be working on Olympus till as long as it takes 🙂
Q2 from Telegram User @Munu2015
How much is the pre-sale liquidity #Locking period?
TheGabeFather (WILL NOT DM FIRST): Locked for 1 year!
Q3 from Telegram User @Chinthaka93
You have mentioned that “Currently its listed on Pancakeswap” When are you plenaing to list on a major cex? Because it is not enough to list on pancakeswap to attract more investors.
TheGabeFather (WILL NOT DM FIRST): We have plans to be listed on a CEX really soon, and a really prestigious one at that!
Q4 from Telegram User @Ratash97
What are you intending to do to achieve the 10k holders goal you set up for july ?
TheGabeFather (WILL NOT DM FIRST): Release our dashboard, NFTs, CEX, as well as partnerships and influencers 🙂
Q5 from Telegram User @cryptoamee
You have mentioned that “Hold Olympus, Earn BUSD”. Could you please explain about this? How can I join this? In which wallet should I hold OLYMPUS to eligible for this?
TheGabeFather (WILL NOT DM FIRST): Yep, so basically after buying Olympus you will passively farm BUSD collected from every transaction. You don’t need any special wallet, it will will accumulate within the wallet that you bought Olympus with!
Q6 from Telegram User @doithay1617
Olympus is a BSC token with dual BUSD Reflect & Buyback system designed to incentivize long-term holders with hourly rewards. So will the holders receive the BUSD automatically or do they need to claim it?
TheGabeFather (WILL NOT DM FIRST): BUSD is rewarded automatically, but it can also be manually triggered by any transaction, no matter how small it is!
Q7 from Telegram User @Cuthbert283
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is it like this? If not can u tell us, What makes it different from other projects?
Mike – Bingus – Olympus (formerly MJ) I WILL NOT DM YOU FIRST: I think beyond the stellar tokenomics and roadmap… the fact that we have a team that has been involved with other projects and the experiece that brings should give people confidence.
And on the utility side having someone like JohnTools from BogTools working on the project long term, I think is really really special.
Q8 from Telegram User @Asela1112
How will we get these NFTs, should we have $OLYMPUS or $BNB to buy NFTs?
TheGabeFather (WILL NOT DM FIRST): The price and way of purchasing is still being decided, but most likely it will be olympus, or a combination with BNB
Q9 from Telegram User @Mirabellls
Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Mike – Bingus – Olympus (formerly MJ) I WILL NOT DM YOU FIRST: Sure! we have already been audited by both the full TechRate audit, and DessertSwap. We will be doing further audits in the future as the contract evolves with our utiltiies and NFT’s.
Q10 from Telegram User @Ishan1_7
I learned about your project,and I’m very interested. But, before I invest, I’d like to know if you’ve conducted any security audits.
TheGabeFather (WILL NOT DM FIRST): Yes, we have an audit with Dessert Finance which can be checked out on our website 🙂
Part 3 – Quiz
Results
In the final part we tested your knowledge in terms of Olympus. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
PART 1. Introduction of WallStreetNinja project and community questions.
Hello, Satoshi clubbers and guests of this site. Let’s talk today about a project that works to bring Wall Street closer to DeFi.
WallStreetNinja – unstoppable finance suite (Lending, Trading – Spot & Margin, Launchpad, Multi Chain Wallet, API for third party integration) and DAO governed finance platform.
Hello, Satoshi club! We are happy to announce our AMA session with Wallstreetninja! Welcome to satoshi club😀
D| satoshi club:
Today our guests – @wsninja_h and @wsninja_f!
Hello! Ninjas
WSN f | ws.ninja:
Hello everyone
WSN h | ws.ninja:
Hello!
Mary | satoshi club:
Welcome here, guys!🥳 Super puper! I want this👏
D| satoshi club:
Wow
WSN h | ws.ninja:
😃
Mary | satoshi club:
So, let’s start our AMA 🚀
WSN h | ws.ninja:
Sure, let’s do it.
Mary | satoshi club:
Guys, could you please introduce yourself and tell us more about Wallstreetninja🔥
WSN h | ws.ninja:
A pleasure to be here. You can call me h. I have a background in finance and technology. I’m also very passionate about decentralization, consequently, have been active in this space for over a decade.
Our team is made up of a group of blockchain engineers, project managers, crypto marketers, community managers and experienced finance business operators who run as an anonymous collaboration.
WSN f | ws.ninja:
Hi all. H and myself (f) are the Wallstreetninja project managers. After it career in the private sector, I left to focus on entrepreneurship and have since been involved in a number of software projects and businesses.
I have a passion for finance and technology, DeFi fits right in.
We are here to take DeFi to the next level, complete decentralization. Aka unstoppable
Mary | satoshi club:
No plans to go public?
WSN f | ws.ninja:
No, we have no immediate plans to go public. In the best interest of this project, it is best to stay anonymous.
We feel at some point, global regulators, such as the financial action task force will start scrutinizing the DeFi space, hence we have gone down the unstoppable path.
Mary | satoshi club:
It has sense
WSN h | ws.ninja:
The Wallstreetninja finance suite is an unstoppable finance solution, where users can access the DeFi ecosystem chain of their choice, in a more simplistic manner, broadening accessibility and fostering mainstream adoption.
We feel the barrier to adoption is the need to install browser extensions and smartphone wallet apps. There are already a multitude of protocols and liquidity available within the DeFi ecosystem, but largely inaccessible to the average person. Essentially, we want to give people accessibility to existing infrastructure in a more user-friendly fashion.
Our competitive advantage is full stack decentralization, hence making it unstoppable, as well as the ease of use.
D| satoshi club:
Nice! And why you decided to be a ninja? 😉
Mary | satoshi club:
I like this concept; we need mass adoption and can reach it faster when everything will be simple for users😀
WSN h | ws.ninja:
Ninjas are stealthy, reliable and unstoppable. Not to mention cool.
WSN f | ws.ninja:
Unstoppable DeFi made easy, that’s Wallstreetninja.
D| satoshi club:
Ahh now I see the reason 😁
Mary | satoshi club:
WSN h | ws.ninja:
Mary | satoshi club:
Thank you, ninjas, for your introduction! Do you want to add something, or we can go to the questions from our community?😉
WSN h | ws.ninja:
Yes, sure. Please check out our prototype. I’ll drop a link here.
Preselected questions about the WallStreetNinja DeFi project.
D| satoshi club:
Thank you for the intro guys! Let’s move on to the first question😊
Q1 from telegram user @charliepotz
The team is one of the basic backbone of every project. And as I read your white paper, your team is made of a group of blockchain engineers,project managers, crypto marketers, community managers and experienced finance business operators, who run as an anonymous collaboration. Would you mind tell explain to us why did wallstreet ninja choose to get anonymous to crypto world? How would we trust wallstreet ninja when we don’t even know who are people or team behind this project? How can you give guarantee to the investors and users that this will grow into something in future?
We already touched bit this topic in intro 🙃
WSN f | ws.ninja:
We will flesh out the answer a bit more
D| satoshi club:
Sure 👌
WSN h | ws.ninja:
We were given strict legal advice to stay anonymous due to the regulatory uncertainty in the DeFi space. Hence, we have become an unstoppable platform, which means nobody can shut it down. For this to be a reality, it is also necessary to be anon. Trust will come from third-party auditing and strong communication skills from the team. There are plenty of successful anon projects, take PancakeSwap for example. Furthermore, we are backed by a high profile crypto incubator that has conducted due diligence on us.
WSN f | ws.ninja:
Wallstreetninja has been incubated by darkpool ventures, a public and highly reputable outfit.
That’s true. Do you feel support on this topic from your community?
WSN h | ws.ninja:
Yes. It would jeopardize the project to be public. Strictly anon is the only way forward in the next generation of DeFi – unstoppable DeFi.
D| satoshi club:
Awesome! We have question about this partnership in this part, this is why im not asking more 😄😉
Mary | satoshi club:
Super! I think this side of your project is covered! Ready to go to the next question?😀
WSN h | ws.ninja:
Sure
D| satoshi club:
Q2 from telegram user @highpee
Wallstreetninja will provide unstoppable finance suite that will not require any form of plugins or browser extension. There are many general internet hosting providers and others that offer blockchain related services. However, Wallstreetninja decided to host its finance suite on dfinity internet computer. Why did you choose dfinity internet computer to host your all-in-one financial platform? How does this choice allow you to provide stack decentralisation and financial infrastructure in a more friendly fashion? How are user data managed by dfinity internet? And apart from the single sign on option through dfinity identity and password, don’t you think it is necessary to include 2fa in order to further secure users data and financial information?
WSN h | ws.ninja:
We are using ICP because it is a decentralized cloud provider, unlike AWS. Every aspect of the platform requires decentralization including governance, computing, hosting, domain and network, hence ICP was essential, but we are also looking into stacks for computing too. We will not be storing user data apart from settings. 2fa is something we are looking into as well.
Mary | satoshi club:
Which another option for security are you looking at except 2fa?
WSN h | ws.ninja:
Keyfile and password combination. All user side.
Mary | satoshi club:
Nice👍
D| satoshi club:
You will be one of the first projects on ICP network? I think not all people here know about internet computer a lot, since it’s a new project and very ambitious too, so how process of migration on ICP will be implemented and when you planning to fully be launched your project on that network?
WSN h | ws.ninja:
The migration is not difficult. Computing is done within a cannister on the ICP network. We are undecided whether we will launch the MVP on ICP initially but might. We intend to migrate to ICP within 12 months.
Mary | satoshi club:
We will wait for the launch 👏 Thank you for your answers! Ready to proceed?😀
WSN f | ws.ninja:
Yes
D| satoshi club:
Q3 from telegram user @asela1112
Wall street ninja was incubated by darkpool ventures. Can you tell us how was the contribution provided by darkpool ventures? Why did you choose darkpool ventures while there are lot of incubating platforms exist nowadays? How did darkpool ventures help to make smooth and successful process during the token listing process on top-tier exchange such as Binance? And can you give us a sneak peek about the current progress of your platform with the cooperation of darkpool ventures?
WSN f | ws.ninja:
The contribution was provided in the form of seed capital and advisory. We choose darkpool because in our opinion they are the best. Darkpool through its market-making arm will assist in the future listing process.
Darkpool continues to introduce Wallstreetninja to their network as needed. Helping WSN build relationships within the industry.
Mary | satoshi club:
Guys, do you have any partnerships?
WSN f | ws.ninja:
Here’s out latest partnership
Wallstreetninja are pleased to announce our collaboration with Stackos to explore the opportunities and possibilities for unstoppable DeFi on the stackos unstoppable infrastructure protocol for open cross-chain computing.
We have several more partnerships in the works, which will be announced in the coming weeks.
Mary | satoshi club:
That’s our friends, nice start👏
We will follow your updates! Sure, you will choose only the best!
WSN h | ws.ninja:
They are a top project and really friendly team.
Mary | satoshi club:
Ready to jump to the next question or you want to add something?😀
WSN h | ws.ninja:
Ready
D| satoshi club:
Q4 from telegram user @andrey_seleznov
Hi Wallstreetninja!
Please tell us more about the WSN token main use cases. I read that users have to stake WSN tokens to get access to various features of the WSN platform. You also have a subscription model where monthly WSN subscription fees unlock further functionality and advanced features. What will happen with the collected fees, will they be redistributed to WSN holders? Can you share any more use cases for WSN token other than staking and subscription fee payment? Thank you!
WSN f | ws.ninja:
Users are required to stake WSN tokens to access various features of wsns.
Monthly subscription fees paid in WSN will unlock further functionality and advanced features.
The subscription fees paid in WSN will be used for burning events, rewards and funding of further technology developments.
We are yet to decide on the specific fees and will do so after our MVP is done.
Token utility
Burning (governed burning events. Using revenues generated by the platform to purchase WSN tokens from the market and sending to a burn address.)
Staking (nft’s, interest bearing tokens, single tokens, lp tokens)
Referrals
Participation (farming)
Decentralized governance
Proposals
Rewards
Voting
Monetary control
Participation rewards
Mary | satoshi club:
Where can we get $WSN?
WSN f | ws.ninja:
Our token hasn’t been released yet, we are currently doing a private funding round.
Mary | satoshi club:
So, you will have public sale as well later?
WSN f | ws.ninja:
Yes, TBA, but we sure will be.
D| satoshi club:
Btw is it possible to get on private sale? Or it’s already late 😁
WSN h | ws.ninja:
No, it’s not already late. It is currently underway.
WSN f | ws.ninja:
Yes, private sale investors can reach out 😁
D| satoshi club:
Your main chain will be BSC, for the token, if I’m not mistaken? Till your migration on ICP do you have plans to explore and go live on other blockchains?
WSN f | ws.ninja:
We don’t have any plans for the $WSN token to be available on other blockchain networks.
We will however list at a reputable exchange shortly after the public sale, so user’s will be able to trade via pancakeswap or cex.
Mary | satoshi club:
Thank you for your answers! Ready to go to the next question?
WSN f | ws.ninja:
Yes
D| satoshi club:
Q5 from telegram user @alice_wonderland12
Farming has been a hot trend since late 2020 in the crypto space, many platforms have adopted this method of passive income and has been widely accepted by the masses, though some programs haven’t been successful because it’s design make it not as profitable. Wallstreetninja will launch a farming feature in the next quarter of this year, what will be the characteristics of this program in matters like apy, minimum time and amount holding, and special conditions to claim rewards?
WSN h | ws.ninja:
The Wallstreetninja suite will actually be integrating with established protocols such as Autofarm. Hence, the specific details will be that of the underlying protocol.
WSN h | ws.ninja:
Then the dapps will be available in this section.
Mary | satoshi club:
Only this or you plan to add more?
WSN h | ws.ninja:
Well initially we will be adding established and secure protocols. But in the future, we will provide an SDK and API for existing protocols to integrate themselves into Wallstreetninja.
WSN f | ws.ninja:
This is the initial proposal list of dapps.
We will also take feedback from the community on which dapps to consider integration
Mary | satoshi club:
Gotcha 👍
D| satoshi club:
I bet they will suggest something with NFTs 😄
WSN h | ws.ninja:
We are already looking at an Open sea integration.
D| satoshi club:
Nice choice 👍
Mary | satoshi club:
Wow, that’s fantastic!
Mary | satoshi club:
Thank you for your answers! Ready to go to the 6th and last question from this part?🚀
WSN f | ws.ninja:
Ready
WSN h | ws.ninja:
Ready
D| satoshi club:
Q6 from telegram user @orlemys
Looking at your roadmap, you seem to be behind schedule in your goals, as your prototyping phase for q2 is still in progress and we’re already on q3 of the year, so tell us, when will you start working on spot trading and farming scheduled for this quarter, and why was it delayed? Also, how is your prototyping phase going, can you share more about it?
WSN h | ws.ninja:
Prototyping is complete. We have to update it on our website, I think. We are certainly releasing spot and farming this quarter. The MVP is already under development.
D| satoshi club:
What is your next steps? What we can expect from the project, let’s say in the next couple of months?
WSN h | ws.ninja:
The biggest next milestone is the MVP.
D| satoshi club:
Btw what is MVP? Could you explain for noobs like me😄
WSN h | ws.ninja:
It stands for minimum viable product.
Mary | satoshi club:
What can we do – which currencies we will be able to trade and what we will be able to farm?
WSN h | ws.ninja:
The MVP will be a working product available for public feedback.
You can trade anything which you can with 1inch and farm anything you can with autofarm.
Mary | satoshi club:
That’s clear! 😀 I will DeFinitely try your MVP!
WSN h | ws.ninja:
But without the need for Metamask, wallet connect or any other web3 plugins. Thanks.
D| satoshi club:
That’s a dream 👌
Mary | satoshi club:
It will be exciting experience for sure!
WSN h | ws.ninja:
A reality soon enough. Yes, it’s the next generation of DeFi.
D| satoshi club:
Appreciate for your answer’s guys! I think it is time for the next part of our AMA 😇
@madamlobster am I right? 👀
Mary | satoshi club:
As always, 😀 Let’s go 🚀
PART 2.Questions about the WallStreetNinja project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the WallStreetNinja crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q – 1 from a telegram user @alptrader
What is the vesting schedule for the WSNS and WSN tokens?
WSN F | ws.ninja:
please visit the link below to view the WSN token information
You mentioned about the concern for community feedback. How exactly is the community involved in the WallStreetNinja ecosystem? are you also going to implement the DAO mechanisms can we trust your project?
WSN H | ws.ninja:
Initially we will take feedback through our online community channels such as Telegram and Twitter. However, in 2022 we will implement a DAO.
Q – 3 from a telegram user @ronaldo_super
Where do you think WallStreetNinja Finance will be in the marketplace, do you think in 2-3 years?
WSN F | ws.ninja:
WallStreetNinja will be a market leader in Unstoppable DeFi
Q – 4 from a telegram user @Antoni_azx
I noted your token $WSN will be useful for your governance model and specially for “monetary control”, can you show us how does this model work and the role of your token for reward stakers and holders? And what is this monetary control about?
WSN H | ws.ninja:
The WSN token will be used for governance, rewards and monetary control. Voting on matters. Rewarding for participation in governance, staking, referring, etc. Monetary control means the DAO wallet holds project funds and can only be released as per voting.
Q – 5 from a telegram user @Deleted user
Copied
WSN F | ws.ninja:
Just like when Binance first launched, we plan to run a very aggressive referral program, giving the majority of the fees generated to the referrer. We are already talking to a number of KOL’s, who have been very receptive. Expect to see WSNS heavily promoted once live.
Q – 6 from a telegram user @KASG95
Because of the theme and name of your project, I came to think that it was a blockchain game, but from what I read it will be only DeFi products from shops, but will it be that in the long term they plan to develop a game with their ninja theme?
WSN H | ws.ninja:
In the future we may integrate web3 based Games into the Dapps section.
Q – 7 from a telegram user @boradam
As WallStreetNinja do you have any mobile app or do you plan to create mobile apps?
WSN F | ws.ninja:
Who wants to install an app??
WallStreetNinja is purely web-based and accessable via Mobile, Tablet or Desktop.
Q – 8 from a telegram user @KhaleesiTheCryptoLady
If your team is anonymous, how will you get the trust and loyalty of users/investors? Has the token contract been audited? Please share some details of token audit?
Usually a project which have token have feature for buyback & burn to up value for the token, I want to know more about The WallStreetNinja burn system, how does the burn mechanism work?
WSN H | ws.ninja:
Burning events will be DAO governed. Revenue generated by the platform will be used to purchase tokens from the market for burning.
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the WallStreetNinja project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
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 Polkachipher and our guests was @thorainer – Tim Rainer, CEO of PolkaCipher. The AMA took place on 16th of July.
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
Gold Rocket | Satoshi Club:
Hello, dear Satoshi Club community!
We are pleased to announce AMA with Polkachipher.
Today our guest is @thorainer – Tim Rainer, CEO of PolkaCipher
Hello and welcome to Satoshi Club Tim😊
Andrés M. | Satoshi Club: @thorainer is a pleasure to have you here! 😃
Tim:
Hey all, nice to be here. Thanks for having us 😊
Gold Rocket | Satoshi Club: How are you doing?😉
Tim:
Excellent thanks. Excited for the road ahead.
How you doing?
Andrés M. | Satoshi Club: So excited for this AMA😁
Gold Rocket | Satoshi Club: We are a bit excited about the upcoming AMA and expect a lot of news😉
Tim:
😊 sure
Andrés M. | Satoshi Club: Well, let’s begin, please introduce yourself, tell us a bit about you.
Tim:
Sure
Gold Rocket | Satoshi Club:
How did you get to be involved in crypto & Polkachipher?
Tim:
I am Tim Rainer, the CEO of PolkaCipher.
I have been in the
Blockchain space since late 2015 and took an involved approach in 2016 as a
business and financial advisor with a few startups. Traditional and Crypto.
Got involved when a
business i managed needed lower transaction fees from suppliers in China
through their product range. Since then I have continued to evolve my work and
life around the Blockchain industry and continue to look for ways to provide
complete use cases to consumers and businesses alike.
Gold Rocket | Satoshi Club:
Great background 👍 thanks
Tim:
Got involved in PolkaCipher when the technologies became possible and relevant
to the industry
Gold Rocket | Satoshi Club:
What is the essence of Polkachipher?
Main idea?
Tim: PolkaCipher in a nutshell is a cross-chain privacy preserving project on the Polkadot ecosystem.
Our primary aim is to
expand the applications of NFTs & DeFi and its use case in business
settings and also increase the reach of Web3 applications in the blockchain
economy via seamless integration to our project, privately.
Our teams intends to bridge the gap between off-chain internet economy and on-chain blockchain decentralized application, using PolkaCipher that relies on verified vendors to provide accurate and trusted data. 😊
When ready, will be fully community owned and decentralized.
Gold Rocket | Satoshi Club:
Btw we would like to know about your team. Who is on the project team core?
Tim:
Main idea being the next step in NFT tech to real world problems.
Andrés M. | Satoshi Club: Amazing, that will increase the mass adoption👏
Gold Rocket | Satoshi Club: You have taken on a difficult but very interesting task👍
Tim: There are 10 of us. 5 core team members which we are growing as we speak. 5 devs plus outsourced to help scale over time and 5 community members who are doing a fantastic job.
Each one of us are
experienced in this area and many others with a good practice on startups to
scale 😊
Yeah indeed but NFTs are so much more than Art images and gifs. That can only sustain for so long.
Gold Rocket | Satoshi Club:
Is your team anonymous?
Tim:
Id add, when i see companies only pushing and raising for just an NFT site, im
shocked as there are thousands out there.
Andrés M. | Satoshi Club: So, are you trying to implement NFTs with real usecases?
Gold Rocket | Satoshi Club: Yes this is a hot topic today🔥
Tim: No, our team is visible on the website and we will be updating the full team once we complete site update within a few days.
We have not listed the
developers yet. This is purposely done to stop business espionage on our
technology that doesnt exist in the market yet.
Tim: 100%. Like i said, NFTs are so much more than gifs and images.
Andrés M. | Satoshi Club: Completely agree, is a topic with a lot of potential. Btw how did you choose the name of the project?
Gold Rocket | Satoshi Club: Great! It adds points to you in the eyes of the user😊
Tim: Polka from Polkadot. Cipher – many meaning but a stable in our ecosystem.
Its all evolving around privacy 😊
Gold Rocket | Satoshi Club:
Thanks for great introduction, we will have a question selected for the Part 1.
ready to start?
Tim:
Yeah sure, fire away 😊
Gold Rocket | Satoshi Club:
🚀
Andrés M. | Satoshi Club: That makes this even more excited, let’s proceed with the community questions 😁
Q1 from Telegram User @NataliyaKil The PolkaCipher White List for TrustPad IDO started on July 14, 2021 and will close on July 20, 2021. Having filled out the form to participate in the White List, I had a question. If any bot records are found, they will be removed until a randomized selection of matching users is found, which will then be whitelisted for IDO. I was wondering how you will recognize bots, what mechanisms do you use for this? Would it turn out that your verification system will fail and real people will be disqualified by mistake? If participants are disqualified, will they receive a notification about this to give them the opportunity to prove their reality and be able to participate in a randomized selection? And as I understand it, 15 places in the White List will be automatically given to the first in the ranking in terms of the number of points scored when we fill out the form. How do I know where I am in the ranking?
Tim: That’s many questions and without being rude, it doesn’t really make much sense.
If you would like to discuss
the whitelisting process and how it effects applications and any bots, please
have a chat with the Trustpad team. They will be more than happy to help you in
this regard.
However from my point of
view, we are very careful in making sure bots are not included and genuine and
authentic users are.
Any bots found will indeed be removed.
Gold Rocket | Satoshi Club:
Thanks for your answer
Gold Rocket | Satoshi Club: Satoshi Club, don’t miss great opportunity😉
Andrés M. | Satoshi Club: Thanks for share it and the advice, would you like to add something before the next question?
Tim:
No, all good to progress to the next 😊 Hope you can all apply and wish best of luck to
you 😊
Andrés M. | Satoshi Club: Of course, a great opportunity for our community, I hope a lot of them will apply 🥳
Q2 from Telegram User @Arisabela PolkaCipher will implement a data matching mechanisms by using smart trackers, can you provide more details about this smart technologies that will be used by your protocol? And how could this matching mechanism be incorporated into solutions to real life problems? What are it use cases?
Tim:
The data needed by contracts on chain isn’t on chain. Its stored on the
client’s database. Our technology allows for querying this data in realtime so
that we can get the flexibility of full data availability while not having to
go through the cost of putting bulky data on chain. Safer, cheaper, quicker and
more effective in its cause.
Andrés M. | Satoshi Club:
What kind of chains you support?
Gold Rocket | Satoshi Club: The benefits are obvious!
Tim: All EVM and we will look to include more if possible over time. Starting with the main first.
Andrés M. | Satoshi Club: It sounds so interesting, all the users will have benefits.
Btw, what are the main benefits for long term holders?
Tim:
Indeed, consumers and business alike
Governance, voting, staking rewards to name but a few. Full list of additions inc our option for parachains can be found at docs.polkacipher.com
That’s essentially our whitepaper in 2021 format 😊
Andrés M. | Satoshi Club: That’s great, could you tell us more about staking? How to do it and how much APY?
Gold Rocket | Satoshi Club: Thanks for sharing👍
Tim:
More info on this will be released soon. Looking at a week or so after the IDO
on Trustpad 😊
Andrés M. | Satoshi Club: Thank you, don’t forget to share with our community the coming announcements 😃
Tim:
Of course. Once we can, we will for sure 😊
Gold Rocket | Satoshi Club:
Ready to proceed to the next question?😉
Tim: Sure.
Q3 from Telegram User @Cristubista PolkaCipher allows both publishing and buying NFT without compromising my identity. However, does that not decrease the value of the NFT, or does it decrease its ability to sell in the market?
Tim:
You cannot hide your identity if you are on public chain. There is no incentive
for general users if they want to sell/purchase NFTs if your NFT’s price is
solely based on the reputation of creator.
You can transfer those NFTs privately which will enable you to hide your data inside the NFT if it’s of sensitive nature. Such as: legal documents, business documents, logins details, access passes, ownership details, etc, etc.
Andrés M. | Satoshi Club: So, any kind of KYC is needed?
Tim: Not for consumer use. If business requires that, sure.
NFT bridges will ensure you can send an NFT from one chain to other through our solution. If you use PolkaCipher’s chain then businesses can mint businesses documents as NFT, send it to right party and ensure its credibility is not lost to general public. This is a next step in the industry.
Users can also stake NFTs on our platform and be able to use NFTs related financial products such as loans… etc.
Gold Rocket | Satoshi Club: Sounds good👍
Andrés M. | Satoshi Club: I’m happy to know that you focus on privacy, so, what about the security of the users, have you done audits to assure that everything is safe?
Gold Rocket | Satoshi Club: You have ambitious goals🙌
Tim: Well, audits have been done so far on the token and smart contracts. This was completed by Peckshield.
Once we complete the next
implementation before it goes live, we will have full security audits done and
completed. We have some fantastic security experts working with us from ex govt
depts to crypto auditing firms known throughout the industry.
Gold Rocket | Satoshi Club: Safety first👍
Tim:
Yes, exactly.
Gold Rocket | Satoshi Club:
Thanks for your answers ☺️ ready for the next question?
Tim:
Yes, certainly 😊
Q4 from Telegram user @V1ct0r_26 When I was looking for information related to PolkaCipher it caught my eye the fact that there are two roles on the ecosystem called “Verifiers” and “Sub-verifiers”, what really caught me was the fact that you said that this people is chosen in secret. Could you explain this two roles to us a little more? What function do they fulfill within PolkaCipher’s ecosystem? Why are they chosen secretly and not with the community’s opinion? Also, if someone wants to be consider as a candidate for that role, what requirements do they must complete?
Tim:
As all data is not created the same.
We have divisions in our validator hierarchy to address this divide. The common nodes validating all and every transaction on the chain won’t do the heavy lifting of data providing, that part will be handled by the businesses itself.
If you have a business and want to provide data on chain for your consumers, you can apply to become an official data provider for data in your domain.
We will release more information on this when ready 😊
Andrés M. | Satoshi Club: There will be more divisions or roles into PolkaCipher ecosystem?
Tim:
Yes. and governance etc as we progress 😊
Gold Rocket | Satoshi Club: We will waiting for news😊
Are you probably already waiting for a new question? 😉
Tim: Haha yeah, fire away 😊
Q5 from Telegram user @Indomiekuy I see that PolkaCipher has own token name with $CPHR. Can you explain what are the function of $CPHR token in your ecosystem ? What are the benefit that user will get by holding $CPHR token ?
Tim:
Nice question 😊
By holding CPHR you can do few things:
Off-chain data requests
NFT staking
Private NFT transaction
Participate in NFT financial products such as loans
Mint custom NFT with custom data type inputs
Stake NFT
Platform-based transaction
Mine governance NFTs
and more
We will adapt to the market and requirements of users too with a suggestion form on site for community to vote on 😊
To add, all these options within our ecosystem provide exceptional value to holders, short term and long term 😊
Andrés M. | Satoshi Club: It sounds exciting, please tell us more about the token, maybe about the tokenomics of the token, max supply and market cap?
Tim: Sure. So we have opted to go through BSC with launch for effectiveness over fees/cost.
Tokenomics can be broken down into 3 stages with seed, private and public
100% of public are unlocked with other stages in a vesting schedule spread in different structures.
Andrés M. | Satoshi Club: Yes please, we have a very creative community 😁
Is your opportunity to win Satoshiclubbers, let’s spread your creativity👏🥳
Tim:
Amazing. Feel free to enter. Can’t beat a great meme contest
Andrés M. | Satoshi Club: Thank you Tim for your complete answers, let’s proceed with the final one of this stage of the AMA
Tim:
Perfect 😊
Gold Rocket | Satoshi Club:
Thanks for sharing 😁…great opportunity for self-expression and earning
😁
Tim:
😃.
Q6 from Telegram user @Korryl As a cross-chain privacy oracle network, you partnered with quite a few notable VCs and projects. There are Alphabit, Node Kapital, Varys Capital, X21, LupaX, Blockpact and other. Can you share with us what are the result from all of your partnership? what are the requirement to become one of your partner?
Tim:
Great question
Some of these partners are well recognized for their passion for the space, support in the progress inc the financial to crypto industry and traditional business.
It was important for us to only go with the companies that could help us long term not just short.
To become one of our partners they needed to gel well with our goals and mission not just be there for a token price potential.
Nothing worse than not having full support for the startup, team and development.
Each one of our partners have been involved in depth since day 1 and we look forwards to building even more great partnerships and collaborations as time progresses. Defi and Traditional operations/outfits.
To add, this goes for the individuals that are expecting to join us from IDO.
As PolkaCipher will become decentralized and governanced when ready, it’s important we only have the best and positive ecosystem builders and community.
Gold Rocket | Satoshi Club: Perfect answer😁
Thanks a lot!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @cryptoamee Do you have done your smart contract audit with a trustful company? If yes please share details on that. Because the security is the most important for a crypto project.
Tim: Thanks for your question.
Security is highly important because we don’t just aim at Defi but traditional businesses too. This includes financial institutions and due to the regulatory requirements for such security on data, we must meet regulatory guidelines for all security that needs to be executed within the products/services that will be launched.
Q2 from Telegram user @AugusS7 You point out that your main objective is to expand NFT applications, but how much can they really be expanded? Could it be that with PolkaCipher the NFTs could have a much more practical utility in our daily lives?
Tim: We aim to expand the use by allowing businesses to use NFTs not for art and gifs but documents, legal docs, real estate ownership, financial services, insurances, and ownership.
We are enabling the ability to offer functions not currently in the market and we are first movers where we have a little advantage as we progress to Polkadot network.
Everything we launch will be cross-chain compatible and allow for use on permissionless blockchains rather permissioned/private.
This opens up a whole new level of use case for NFT technology that users are are the pinnacle point of breaking into.
It’s not going to be easy but we will progress as we can and adjust per market requirements.
Q3 from Telegram user @mobilejii Is it compulsory to hold Trust pad tokens to join your presales and how do I get whitelisted? when will be the CHPR tokens available in exchanges to buy?
Tim: I would highly recommend reading the whitelisting terms and if in doubt, please speak to the Trustpad team. 😊 I do not want to give wrong information at such a pivotal point in time.
Q4 from Telegram user @KeymerS You say that as soon as PolkaCipher is fully ready, it will be community owned and fully decentralized, but have you really defined when it will be available and fully functional, or do you have to test the alpha and beta versions to launch it?
Tim: Yes. alpha/beta will be launched per product first with options for testers to get involved. Once PolkaCipher is at the point to release the tech to the community, we will go fully decentralized and offer our company/business side as a SAAS style service and keep running that way 😊
Q5 from Telegram user @mannhan WHENNN LISTTT BINANCEEE ???
Tim: That is an interesting question but as most financial regulators are looking to take them out, it would be non sensical to go down that route when we would like regulated businesses to use the tech 😉
Q6 from Telegram user @highpee PolkaCipher’s primary function of bridging the divide between decentralized applications (dApps) and real-world data is broken into two components which are ON-CHAIN and OFF-CHAIN. Which of your activities are done on-chain and which one is off-chain? How are off-chain results returned back into on-chain contracts?
Tim: Hi Johnny. Thanks for this question.
Depending on the initiator’s choice and what they will be using Cipherdex or any of the products for determines what will be on or off-chain. We have a lot of options with the expansion of Polkadot and KSM 😊
Let’s see how they roll out and we can capture a great leading position.
Q7 from Telegram user @JoxesXIII If the purchase of NFTs could be done privately and thus, how can we validate that the NFT is authentic and that it is owned by the person it claims to be?
Tim: This again is determined on a few factors but authenticity will not be private, only the information within an NFT.
This will not affect value but more likely increase authenticity.
