Month: July 2021

We are pleased to announce our next AMA on July 10th 2021 at 01:00 PM UTC Time: Satoshi Club x CremePieSwap

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join CremePieSwap 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. CremePieSwap Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about CremePieSwap

For more details:
CremePieSwap Website – docs.cremepieswap.finance
CremePieSwap Telegram – @cremepieswapofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

1.Project Overview: TrustPad ($TPAD)

Announced in April 2021, Trustpad is a permissionless, multi-chain, fundraising platform for crypto projects that aims to kickstart their launch in the space via IDO capital raising, while guaranteeing exclusive access and prime blockchain security to early projects investors.

While this could be considered TrustPad’s portrayal in a very concise, nutshell-like fashion, that wouldn’t do justice to all that the project currently offers to its stakeholders. So let us unpack the short description above and provide the deserved context and information about TrustPad’s value-packed services.  

2. A brief introduction to IDOs (Initial DEX Offerings) 

In order to understand Trustpad’s value proposition, it is important to introduce the concept of IDOs. Just like many DeFi-era projects, TrustPad is deeply rooted and intertwined with 2020/2021 DeFi’s boom (which is also expected to blossom throughout 2021 and in the coming months/years) and thus, it’s best to go a little back in time and do a quick, yet partial “crypto history” recap.

The adoption of DeFi solutions finally emerged with hugely successful projects, like Uniswap and Compound (two of the most notable protocols among the successful DeFi lot), attracting investments that brought billions of dollars in traded volume in the cryptocurrency markets and snatching a considerable (and constantly growing) amount of market share from centralized exchanges. 

DeFi bloomed, but while many already structured new projects blossomed as well, just as many potentially promising projects needed to find the right way to market themselves and communicate their unique value proposition to potential investors. 

That’s how the fundraising activity got enriched by the launch of IDOs – whose ancestral and conceptual forerunner in the crypto space is deemed to be Binance’s IEO (“Initial Exchange Offering”) Launchpad: investors who wanted to participate would be required to stake a certain amount of BNB tokens for a predefined timespan, during the crowd sale period.

3. How do TrustPad IDOs work?

And now that’s when TrustPad entered the IDO landscape. 

Like several other IDO launchpads, TrustPad is not tied to any centralized exchange. Just as with Binance centralized Launchpad & BNB of the very beginning, in order to participate in upcoming project pools, TrustPad users are instead required to deposit/stake the corresponding platform token ($TPAD).

On the platform’s end, the process is multi-phased. Start-up IDOs reach out to TrustPad’s team and submit their project, providing all of the project’s fundamental and relevant information (technical documentation, whitepapers, etcetera) and defining the token allocation for the $TPAD community investors.

The TrustPad team carefully screens out candidate projects, following strict initial security procedures in order to validate a project’s legitimacy beforehand, deciding whether or not to accept the request, and eventually deciding the crowd sale date on TrustPad’s platform.

Therefore, if approved, the project is then queued into the pipeline and, to facilitate due diligence on the part of the investors (which, as always, is highly recommended), relevant details and official links to the project’s social channels and websites are provided, allowing future IDO participants to study it.

Few days before the established date, the project’s whitelist opens to all eligible IDO participants. IDO eligibility and selection criteria may vary in time according to TrustPad’s tiering system. Investor participation in any Trustpad IDO is dependent on the numbers of $TPAD tokens owned & staked. Some higher tiers allow for a guaranteed allocation, while lower levels employ a lottery mechanism where the probability of getting whitelisted is a step function of the numbers of $TPAD tokens staked.

This is meant to be a fair presale mechanism and has been designed due to the high token demand that precedes IDO launches, which most of the time are far superior to the allocated amount for the IDO. For that reason, a max contribution per each $TPAD whitelisted user is set, where each lucky investor gets to contribute up to a maximum, customized amount of BUSD, according to the level to which participant belongs.

On the crowd sale date, only those who have the whitelisted right to join will then be able to calmly proceed with the pool’s contribution, enabling users to receive an established amount of the launching project tokens on the native blockchain of reference – as of now, either BSC, Solana or Ethereum. 

4.$TPAD’s Tokenomics

Since $TPAD is the cornerstone that makes the above design possible, It’s important to share some key token metrics.

As mentioned earlier, the $TPAD token is required to be able to fully tap into TrustPad’s platform features and to participate in any future hosted IDOs. In addition to this main function, $TPAD also possesses several desirable tokenomics traits: 

• the total supply is 100,000,000 $TPAD but the token itself is “dynamically deflationary”, thanks to a 2% re-distribution & burn fee on every $TPAD transaction Basically, part of the transacted $TPAD is proportionally redistributed to all $TPAD stakers, while another fraction is sent to the burn address, thus effectively removing $TPAD from circulation and, in turn, increasing the value and scarcity of each token over time.

• Furthermore, as a plus to its IDO requirement, $TPAD’s IDO staking earns a current, juicy ~50% APR (subject to change as TVL increases). The token can also be farmed by staking $TPAD in a separate “$TPAD only” pool or by becoming a BNB/TPAD liquidity provider on PancakeSwap, actually earning up to a fabulous 180%.

• Finally, the fact that $TPAD is a BEP-20 token also adds to the token’s value, by considering that, at the time of this writing, BSC transaction fees are way lower compared to Ethereum’s mainnet, as per the actual market juncture.

Here is a quick overview of TPAD’s basic tokenomics: 

5.TrustPad’s Philosophy and Competitive Advantage

TrustPad’s Launchpad protocol lives and operates primarily on Binance Smart Chain and integrates with Ethereum (while full-fledged multi-chain integrations on Solana, Matic, Polkadot, and Cardano coming soon) making it a 100%, decentralized, permissionless, safe & innovative IDO platform. 

As hinted earlier, TrustPad’s aim is dual, both on the investors and project team side, allowing reputable, premium projects to safely raise capital, while giving $TPAD investors the assurance and confidence of the project’s reputability and legitimacy, at the same supporting projects’ growth in a transparent (the team is public), safe (the code has been twice by high-caliber auditing firms Certik and QuillAudits) and sustainable fashion.

Thus, following TrustPad’s core mission, the project is driven by a “quality over quantity” philosophy, whose positive spill-overs can benefit the broader blockchain world as a whole, thanks to the intrinsically long-term, value-loaded, yet safe-grounded approach that’s being actively sought and pursued by the TrustPad’s team via the attentive selection of the LaunchPad projects.

This professional, virtuous, and community-centric approach bore its fruits by distinguishing TrustPad from the competition in the IDO niche, leading to its astonishing growth since its very recent launch in April 2021, with more than ten successful project launches (and three more already on the ramp – Flourishing Capital, Xion, and Triall – for the coming days), many reputable VC backings and partnerships struck (BlockSync Ventures, Lotus Capital, BuidlHodl, to name a few) and a cemented community base, that now boasts more than 89,000 followers on TrustPad’s Twitter account and well over 81,000 members on the official Telegram group.

Not just IDOs but NFTs…TrustPad’s NFTs TalentPad

Trustpad’s growth is not expressed only in networking terms. The second quarter of 2021 will also witness the birth of TrustPad’s newest product integration: the TalentPad.

The TalentPad will be TrustPad’s NFT LaunchPad and marketplace, which will showcase original and exclusive artworks from both notorious & emerging, talented artists, thus allowing $TPAD stakers to get early access, invest, own and trade unique NFT creations and masterpieces – some of which will also grant owners exclusive perks and benefits for upcoming TrustPad IDOs. 

TalentPad’s official announcement is bound to come in the next weeks of July, where – barring any unforeseen delays – we will also see the first NFT Auction Pools going live. 

6.Coming Down The Road – TrustPad’s Roadmap

TrustPad’s roadmap has a lot on the plate for 2021, starting with the Solana blockchain integration and the aforementioned TalentPad launch, up to the Q3/Q4 inter-chain compatibility on the Polygon and Polkdadot chains, together with CEX listings, $TPAD governance features going live and much more. Let’s break everything down in concise quarters:

Q2 – 2021: Solana integration, TalentPad launch, Auction Pool for NFTs going live,  

Q3 – 2021: Insurance Fund and Front-Running Prevention Systems going live, Polygon and Polkadot integrations, IDO-type bonding curve fundraising feature.

Q4 – 2021: Cardano integration, CEX listings, TrustPad’s DAO, and Governance up and running.

The following infographic sums it all up.

7.Conclusion

With a strong, passionate, and thriving community already in place as the backbone of the project, many key partnerships under the belt, and the constant, steady development that’s been brought to fruition by the team so far, TrustPad has anything it takes to keep playing a pivotal role in the IDO niche. If the team keeps on buidling and delivering the coveted cross-chain integrations & ambitious features outlined in the project’s roadmap, the stars could be potentially aligned, calling for a bright future for TrustPad in the cryptoverse.

8.Community and Social Channels (as of July 2nd, 2021)                                                        

TrustPad’s Website                          

For everything you need to know about Colony, visit the official TrustPad Website.

TrustPad’s Telegram

Join the conversation on Telegram to stay in the know about TrustPad. 

TrustPad’s Medium                              

To keep up with the latest updates from TrustPad, follow them on Medium.

TrustPad’s Twitter

Get in touch and social with other members of Colony’s community. Join the community on Twitter.

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 Bistroo and our guests was @Bas_Bistroo. The AMA took place on 7 July.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Andrés M. | Satoshi Club: Hello dear community, we have another great AMA session today with our friends from Bistroo project.😃

@Bas_Bistroo welcome to Satoshi Club, how are you today?

Bas: Hi!

Thanks for having me, and i’m very well. How is everyone here?

Very happy to be part of the Satoshi AMA club

Andrés M. | Satoshi Club: We are excited for this AMA session, a lot of users online waiting for it

Bas: Im excited too, I saw alot of good and quality questions on the website so looking forward

Andrés M. | Satoshi Club: We are glad to have you here. So, let’s begin with the AMA, please give us a short introduction about, what is your role into Bistroo project and how did you get involve on crypto?

Andrés M. | Satoshi Club: For sure, our members did a great research about your project😁

Bas: Hi everyone! My name is Bas Roos, a 30 year old entrepreneur from the Netherlands. After graduating from my MBA I came to work over at EY (Ernst & Young) and HeidelbergCement, and learned alot about (digital) Business Process management, and digital transformation.

When working in these business environments these ‘legacy’ (mostly ERP) systems, as a comparison to blockchain, always frustrated me a bit, due the way data is stored, processed, modifiable and transferred. There’s alot of friction in the way we (digitally) organise within our current state of society.

When I first heard about blockchain technology in 2015, I came to realize that, in time, this might be the technology to address those frustrations. Blockchain holds the potential to organise trustless and frictionless and thats what so amazing about it.

I’ve been active in the blockchain and crypto space ever since, first as a digital transformation advisor and blockchain keynote speaker, and later as founder and CEO of Bistroo.

Andrés M. | Satoshi Club: Great background Bas, I agree with you in that blockchain is the key to solve a lot of the problems of the companies.

Now, in a nutshell what is Bistroo? What is the essence and which problems do you try to solve?

Bas: Takeaway platforms have made it easy to enjoy our favourite meals, but they’ve made life tough for the restaurants we all love.

Current market platforms demand that restaurants pay disproportionate fees, while dictating control over everything within the process: data, pay-out and client relations, loyalty and interactions. It’s a stitch-up that results in higher costs for consumers and restaurants.

Bistroo puts an end to this, by providing a platform where businesses are back in full control.

We offer better user experience, lower transaction costs and a fairer and neutral infrastructure. Our job is to provide the tools, insights and support to facilitate a direct-2-consumer relationship for our merchants and users.

It is fully focussed on the infrastructure first, Platform as a Service utility.

With full decentralization of tasks and responsibilities, enabled by the protocol. A merchant is in full control over everything that has to do the THEIR store. Changing menu’s realtime, updating prices or inventory numbers, switching from preferred payment method, organize refunds or compensations, running promotions and/or ads, conduct commerce through direct contact with THEIR customers, and allow them to build a loyal customer base with their restaurant.

We facilitate, never dictate!

Andrés M. | Satoshi Club: Don’t you think it could be a problem in the current pandemic situation, I mean the restaurants were closed for a long time, that was a problem for you?

Bas: No, actually not at all. Alot of restaurants discovered the potential that the take-away and delivery markets hold within these dire times of the pandemic. The market has always shown great growth potential for the next decade, with double digit aggregated growth rates for most regions in the world.

But with the pandemic happening, some of this growth has been expedited and has helped us gain the initial traction for our live platform.

We are very much looking forward to normalized market conditions because our USP’s fundamentally hold up, with or without the pandemic, and we would like the restaurants to thrive!

We actually helped alot of restaurants stay in business during these uncertain times so thats something we are extremely proud of.

Andrés M. | Satoshi Club: Well, that’s important, to take advantage of the difficulties and try to evolve.

Thank you so much for this exciting introduction about the project😃. We have collected the best community questions for you, are you ready to proceed?

Bas: You’re very welcome, Yes looking forward to the live segment!

Q1 from Telegram User @Jonahapagu

Bistroo is implementing An incentivized review model to give consumers and users a trustworthy peer assessment of the quality delivered by service- or product merchants through its platform… so how does bistroo incentivize reviews on its platform and how is it ensured that only genuine reviews are available on your platform as this can go on to negatively affect your review model?

Bas: Thanks for this question. We have been thinking about this challenge alot during the design process.

Reviews should always reflect an experience transparently, even if its a negative experience. In order to ‘weigh’ a review there will be features to up- or downvote a review, affecting the amount of rewards that apply for that specific review.

For example, if someone had a negative experience and writes an extensive and helpfull review about this, this review could still get a lot of upvotes. Indicating this is a community valued review, recognition by the community masses will result in increased rewards. Therefore incentivizing quality reviews, over quantity, even if its covering a negative experience.

Application controls, posting and voting rules, and reward algorithms will ensure users do not

Bas: ‘hack’, or abuse, this system.

Andrés M. | Satoshi Club: Will be there supervisors checking the reviews? I mean there are rules against bad words and bad behavior?

Bas: Ofcourse, moderation applies. Automated as well as manual.

Andrés M. | Satoshi Club: Thanks for the clarification and the clear answer, would you like to add something before the next question?😃

Bas: We also allow merchants to respond to reviews and even compensate if they feel thats necessary in these cases.

So they can build a direct relationship, and loyalty through the system.

Andrés M. | Satoshi Club: Do you mean with a followers system?

Bas: I mean that they will be able to directly communicate with them, and if compensation should apply they are able to autonomously do so. Therefore investing in their customer loyalty and satisfaction.

Andrés M. | Satoshi Club: Oh got it, great idea👏

Q2 from Telegram User @meml97

From what I understand Bistroo aims to be this app where users will be able to find and pay for their ideal food without the need and trouble that could come with intermediaries between seller-buyer, but if I’m honest with you, Bistroo to me looks like another third party app involved in this process, so what is different on Bistroo to not consider it as such?

Bas: Thanks, we are building the protocol for direct commerce and never dictate the relationship between a merchant and a consumer. It is our job to provide every tool they need to do so, in a neutral and facilitating manner. We will never dictate how they should run their business, affect pricing, handle or hold payments, or even exclusively use the data that is generated, its their business fundamentally and the protocol is here to facilitate this.

Being neutral and transparent is key in this philosophy, and thats where blockchain will contribute in ensuring this as well.

Allowing the merchant to have full control over everything for them to conduct business is something that is currently unique in the industry and is a fundamental USP for us. We will always ensure this Peer2Peer, direct-2-consumer, dynamics stay in place.

This also means that at a future stage, the protocol/system transcends the current business that is developing the product and providing the service.

Current marketplatform control everything that has to do with the process: payments, refunds, inventory management, menu adjustments, customer contact, customer relations and data.

We allow the merchant to control all this through the protocol and software.

Andrés M. | Satoshi Club: That’s great, it differentiates you to your potential competitors. Btw, who are your current partnerships and how many businesses have joined your platform?

Bas: We are closing in on 300 merchants atm. Not only restaurants but also direct-2-home merchants that provide specialty products like wine, cheese, fresh produce, spices etc. We delivery those nationwide through partnerships with logistic service providers, like trunkrs.

We are aligned with the National Association of restaurant owners, that have validated our approach to their members and help us gain authority on the market.

We are onboarding our first big labels during the current quarter with New York Pizza joining our system with the first merchants in the coming weeks.

And we are also integrating with multiple PoS systems to have our orders flow into the management and sales systems and our merchants and make life easy for them.

Andrés M. | Satoshi Club: Congratulations, your ecosystem is growing so fast👏

Q3 from Telegram User @DK177

Due to the prevailing COVID-19 situation, food delivery platforms across the globe are facing several problems. Travel bans have been imposed in some countries. People tend to cook at homes in order to avoid health issues. Do you have any plans to overcome these problems and to make your service a stable one? If your service face difficulties, it can reduce the value of $BIST. Why did you introduce this kind of concept in the prevailing situation? According to 2020 year review, the platform was launched and the employees were hired during the pandemic. Don’t you think you should have postponed the launch? Can’t you achieve a greater success by launching in a normal situation?

Bas: We had been working on the project long before COVID-19 was part of our lives and have been designing the platform to fit for normalized market conditions and have competitive advantage in the long run. COVID-19 did change the market conditions but I dont feel we should have postponed because we were able to prove our added value during these dire times.

Orders have actually gone up alot during the pandemic because people still want to support and enjoy their favorite restaurant.

With the COVID pandemic, hopefully, coming to an end we will continue our mission to provide an cost-efficient alternative and help get merchants back to a thriving and healthy condition when serving the market.

The platform was launched on March 3rd, 2020, so that was before the biggest interruptions from Covid happened but we managed to pull through and grow during this time!

Andrés M. | Satoshi Club: I’m happy to know it doesn’t affected you to much

Btw, talking about $BIST token, where we can buy it and what are its main usecases?

Bas: You can also trade BIST Tokens on:

🐃 HitBTC (https://hitbtc.com/bist-to-usdt)  

🦄 UniSwap (https://v2.info.uniswap.org/token/0x6e8908cfa881c9f6f2c64d3436e7b80b1bf0093f)

🔵 BiDesk (https://www.bidesk.com/exchange/BIST/USDT )

Bas: Payments: Purchase your food using BIST tokens against reduced rates compared to FIAT purchases. Cash-backs for using the token!

Data rewards: Share your consumption and order data & you will be rewarded with BIST tokens.

Ratings & reviews: Write community valued reviews for meals & services and be rewarded in BIST for contributing valuable info.

Merchant staking: Staking BIST tokens as a merchant will allow you to get discounts on commision fees.

Contribute: Be a valuable member of the community by, for example, onboarding your favorite restaurant or inviting your friends & receive BIST tokens as your reward.

Shopping: Merchants can use BIST tokens to purchase all kinds of store attributes to enhance their customer experience.

Premium features: BIST tokens can be used by merchants to gain access premium dashboard features at a significantly reduced price.

Smart advertisement: Merchants can use BIST tokens for advertising to their target customer audience.

Community & liquidity staking: Earn rewards for contributing to the network by staking your BIST tokens, or by providing liquidity.

We listed on HitBTC today acutally 😀

Andrés M. | Satoshi Club: More exchanges are in plans I guess😁

Bas: Yes, working hard on more partnerships and trading opportunities!

Andrés M. | Satoshi Club: Thank you so much for the clear and detailed answers🥳. @MihaiPisica please proceed with the next question!

Q4 from Telegram User @Highpee

In the month of May, you started Bistroo CORE V4 which will involve a complete redesign and revamp of your backend framework, consumer app and merchant dashboard. We are in the month of July and this version upgrade is yet to be released. Can you provide some update on Bistroo core V4? What should merchants and users expect with this new release? How will the new version address some factors that affect your efficiency such as the inability of merchants to synchronise their single account with the multiples stores they operate on your platform and the inability of users of this stores to be granted different levels of authorisation? What other customizable product flow features will user be able to have access to with Bistroo Core V4?

Bas: Great question and we have an extensive breakdown of the update coming out very soon so for all details please follow all our channels! The update has been scheduled for release in Q3 so stay tuned for that.

But like you mention it is big update for the scalability and accessibility of the platform, in order to prepare for a borderless utility to be hosted on Bistroo.com at a later stage.

It will allow for more flexibility and control over multiple stores by implementing an account vs location/store layers. When onboarding bigger chains of restaurants we noticed that we could make life easier for the owners to organise the back-office in such a way. This way they will not be operating multiple back-offces, for each store, but can manage multiple stores within one back-office environment login.

We will also be implementing user profiles and preferences so we can lay the foundation of our personalised user experience for our consumers. Another unique thing our platform has compared to ‘traditional’ market operators.

Bas: It will also allow store managers to have more flexibility in building menu’s for different distribution methods (take-away, delivery, location QR), for each store seperately. Or make certain menu’s available at adjusted prices or times during the day. Without affecting their core product configurations.

Andrés M. | Satoshi Club: So innovative, don’t forget to share coming announcements with us.

I would like to ask, is your platform international or is allowed only for few countries?

Bas: Currently it is only available in our launching market, the Netherlands. But we are expanding the Belgium later this year and with the launch of Bistroo.com we aim to make the protocol accesible globally. Depending on regulatory parameters.

We will share the announcements for sure, thanks!

Andrés M. | Satoshi Club: Thank you so much for clarify it😃

Time to proceed with our next question, @MihaiPisica please shoot it

Q5 from Telegram User @putra2005

As stipulated in your website, transfer of assets across various major public chains is available. How do you assure that your subscriber’s assets won’t be invaded by any hackers/scammers in the process of transfer?

Bas: Security is of utmost importance to us and we will do everything in our ability regarding testing, ethical hacking and measures to prevent the system to be breached. Smart contracts will be audited and tested extensively before being deployed. This is where we will not make an consession on safety, over, for example, speed of the deployment.

Andrés M. | Satoshi Club: Security first👏

Thanks for the answer, ready to proceed with the last question of this first part of the AMA?🥳

Bas: Yes for sure!

Q6 from Telegram User @Asela1112

Studying on $BIST tokenomics, 10%- seed, 10%- Team, 30%- Token sale & 50%- community rewards, staking, operations & partnerships have been allocated while not included any kind of burning mechanism. So why didn’t you integrate burning event on tokenomics? Which strategies will you use to avoid inflation on $BIST & mitigate the price volatility of $BIST without burning event? Can you tell about the primary concept, used to categorize $BIST on various purposes? Currently $BIST are built on Ethereum network as ERC20 token. We all know, Ethereum chain is more potential but with high gas fees. How about the transaction fee of $BIST & have you solutions for high gas fees? Will you launch $BIST on binance smartchain also in future? Will there be any exchanges in addition to UNISWAP to Buy $BIST tokens?

Bas: So thats a alot of (good) questions in one go! The biggest challenge for ETH is indeed the GAS fees and even though we feel Ethereum will overcome these challenges in the future, we will be looking for alternatives to expedite adoption with lower transaction fees in the meantime. Currently looking into layer-2 & bridging solutions and we have an announcement for this coming up very soon! Keep an eye on our channels to learn more on this in the next 2 weeks!

With these layer2/bridging solutions new venues for (DEX) listing opportunites will open up and we aim the utilize these to grow the community and ecosystem of BIST as fast as we can!

Burning events will still be an option to mititgate inflatory effects on the token and will be incorporated if deemed necessary for the ecosystem to thrive.

Bas: Curious about the LIVE segment!

Andrés M. | Satoshi Club: Great answers for great questions. Great job Bas, thank you so much for your time and patience💪😃

Bas: No worries, happy to do so and thanks for the great questions! High quality for sure

Andrés M. | Satoshi Club : Of course, like you said is time to proceed with the live segment of the AMA, a ton of good questions are coming 🥳🥳

Thank you for the kind words. Now we will open the chat for the community question and we we close the chat you should pick your 10 favorites to answer, are you ready?

Bas: Yes, lets go!

Part 2 — live questions from the Telegram community

Q1 from telegram username @Gutike95

I could read that each time Bistroo will become “more personalized”, but what do you really mean by it? Will it require more details of the businesses and user data in order to create a greater business-customer relationship?

Bas: Yes, only if the users explicity allows the protocol to use their profile and historical information we aim to have a personalised experience that fit you as a consumer. Meaning the ranking of stores, as well as promotions is more aimed at your own unique preferences and experience. This allows merchants to target segmented audiences as well, with promotions for example.

Q2 from telegram username @Ratash97

So who is in charge of the delivery process the merchant or bistroo ?

@Bas_Bistroo

Bas: Currently, it is the merchant who is in charge of the delivery process. Either themselves, or through third parties. We allow for technical integration with the major service providers to ease up this process.

Q3 from telegram username @johnclark_0

Bistroo is collaborating with Horeca Magazine. What is your business deal with Horeca Magazine? Why do you choose to be published in Horeca Magazine?

Bas: Our partners are aimed at providing educational content on our USP’s and what we do differently than our main traditional competitors. Building brand and concept awareness and breaching the initial gap between the image consumers have on platforms, and what makes Bistroo different to that!

Q4 from telegram username @Einsteinyl

Bistroo concept to combine blockchain and food industry is really innovative and unique, I believe you already doing some research before build this project. So I want to know, what issue do you think that food industry have for now? And what solution that Bistroo can give to solve that issue?

Bas: The main challenge is that food industry, on each channel, is highly centralised and untransparent. With the combination of our protocol and blockchain we would like to flip that model into a neutral and transparant way of organizing food consumption.

Q5 from telegram username Erbi Zuan

With the Bistroo making it easy for buyers without having to leave the house, what if the buyer doubts the cleanliness of the food/packaging on the road, How does the Bistro handle decent standards🚀🚀🚀🚀

Bas: We are currently working on getting partnerships in these areas. For clean and sustainable packaging to be offered through the back-office to our merchants!

Q6  from telegram username @Pratze

This year much people already give attention to NFT, and NFT become really popular. How about Bistroo? Do you have plan regarding NFT on your project and how will be your NFT like?

Bas: NFT is obviously a very big and major use case for blockchain and crypto and we are looking into integrating this in our platform as well. Examples could be; Recipes (Grandmother’s secret cookies) or images of Food.

At this time we dont have specifics on this use case yet but more will follow regarding NFT

Q7 from telegram username @messilolz

Many projects devs abandon for no reasons later and due to lack of experience . So are you an experienced team and is your team  anonymous or public?

Bas: We have a fully public team and are expanding our dev (and other) divisions as we speak with highly passionate, educated and experienced teammembers. Longevity of the project is of the utmost importance.

Q8  from telegram username Erbi Zuan

Current conditions make people want sterile and healthy food, most likely people will make their own food at home Does the bistro also open partners who sell raw materials?

Bas: In the future we would like to expand our reach into B2B as well. Meaning raw materials can be acquired by merchants through the protocol. For sourcing and transparency on Supply Chain Management we aim to partner with other initiatives in the blockchain space that handle transparency of the supply chain.

Q9  from telegram username @Checkerbabu

Is there any incentive for promoters or ambassador who take it upon themselves to referred people to use Bistro ecosystem ?

Bas: Yes, we value community and ambassador driven growth above all. We are in the works of launching our first ambassador program in BeNe this week and will expand the program into other countries as soon as the utility becomes available there through Bistroo.com!

Q10  from telegram username @Korryl

I’m very curious why do you give your project name “Bistroo”? Is there any meaning or story behind that name? And where is the main idea come to use that name?

Bas: Besides being a great brandname it also signifies what we strive to be; an accesible and friendly environment for everyone to enjoy their favorite food, with your community!

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/

Russian Telegram group: https://t.me/satoshi_club_ru/

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Chinese Telegram group: https://t.me/satoshi_club_cn/

Indonesian Telegram group: https://t.me/satoshi_club_indonesia/

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Website: https://esatoshi.club/

Our partners:

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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 Hoo Smart Chain and our guests were @PatriciaWxy @samyaohk @Cole_HSC @PuddingSwap @JZZZZ2020 @Austin_ShouYi . The AMA took place on 7 July.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

D. | Satoshi Club: hey Satoshi Club😇

Paul Mont | Satoshi Club: Hello, dear Satoshi Club community!😁

D. | Satoshi Club: we are happy to present you today’s AMA with Hoo Smart Chain🥳

today our guests – @PatriciaWxy @samyaohk @Cole_HSC @PuddingSwap @JZZZZ2020 @Austin_ShouYi !

how is it going guys? 😉

Paul Mont | Satoshi Club: Welcome people! Great to have you here! 🔥

PuddingSwap: hi guys~!

JZ: Hi everyone

Sam Yao: We are feeling stoked and excited 😜

D. | Satoshi Club: nice! 👍 we are excited as well!

Paul Mont | Satoshi Club: I can assure you the feeling is mutual 🔥🔥

Cole ZHANG: nice to meet you guys😊

Sam Yao: I’m Sam, head of Hoo Smart Chain operation. It’s my pleasure to meet all of you here

Patricia: Hello Everyone, I am Patricia. I am Head of Marketing of Hoo Smart Chain.

D. | Satoshi Club: happy to meet you guys 😊

Paul Mont | Satoshi Club: The day’s perfect to get to know all of you and share all the marvels that HSC has in store with our Satoshi Clubbers 😎

JZ: Hello everyone! I am Timi of RooLend, the first leveraged lending protocol on Hoo Smart Chain.  I joined the RooLend team this year and is responsible for its operation and promotion.

PuddingSwap: hello guys~! I am Shelley, the operation director of Puddingswap from HSC😝

Austin ShouYi: Hello Everyone, I am Austin. I am Head of Marketing of ShouYi, the first defi on Hoo Smart Chain .

D. | Satoshi Club: awesome! so many guests today !🥳

and from different projects 😉

Paul Mont | Satoshi Club: It’s a party AMA 😁

D. | Satoshi Club: haha yeah

so guys can you briefly explain to us what is Hoo Smart Chain?

please 😊

Sam Yao: Alright

Hoo Smart Chain (HSC) is a decentralized &energy-efficient public chain that provides developers with an efficient and cost-effective on-chain environment. We launched our mainnet on May 1 this year and have been dedicated in growing our ecosystem.

Many awesome projects have joint hands with us in the past months. Thanks to the satoshi club, we are able to meet all of you tonight, and introduce our smart chain as well as some of our top projects to you. We have PuddingSwap, Roolend and Shouyi with us tonight.

D. | Satoshi Club: you already in mainnet phase?! impressive! how long Hoo Smart Chain under development?

Sam Yao: Actually less than three months.

Thank you! Our tech guys work hard 🙂

Paul Mont | Satoshi Club: Also, I’d like to mention I’m a registered member on Hoo exchange. Is the team behind Hoo Smart Chain the same?

Cole ZHANG: Not the same

We are separated teams but a big family 😌

Paul Mont | Satoshi Club: That’s the kind of philosophy that brings the best bonds and results in life & work 😉

D. | Satoshi Club: [ 👍 Sticker ]

Paul Mont | Satoshi Club: Thank you very much for the brief intro, we have many community questions to ask you, so – without further ado – I’d say let’s get on with them😁

Cole ZHANG: Okay, let’s do it 😜

D. | Satoshi Club: let’s goooooooo🚀🙌

Q1 from Telegram user  @xperia3

As I see in your website there is an ongoing testnet. How does it go so far? Did you get any feedbacks from testnet participants already? Is it still open for new participants? People do more their best when there is a reward for bug hunting and system testings. Will there be any incentives for testnet participants?

D. | Satoshi Club: as we know now, you already on mainnet 🙃

PuddingSwap: yes, puddingswap has already launched haha😝

Yes, yet maybe there are still bug bounties open for dedicated and skillful developers 😉

Satoshi Club has many talents hidden in the community 😎

Sam Yao: Oh, a very good question to start things off 🙂  I would like to update you that we have launched our mainnet for over 2 months. And now there are more than 7000 smart contract addresses on mainnet. PuddingSwap，Roolend and ShouYi.AI are nice projects among them.

Like I mentioned, Hoo Smart Chain is an open and friendly chain always open for both users and developers.

D. | Satoshi Club: btw puddingswap will have their own token? can people already get your token? or maybe you planning some airdrop for early adopters? 😉

PuddingSwap: Of course! PUD is our token… and will do airdrops in future for PUD holders😄

D. | Satoshi Club: for be able to use your mainnet users have to set up their wallets. if im right?  do you have any guides how to do it?

haha nice 😁

Paul Mont | Satoshi Club: Excellent news, gotta stay tuned Satoshi Club 🎉🎉🎉

D. | Satoshi Club: by the way, puddingswap is the first AMM on Hoo Smart Chain?

Sam Yao: We have well written tutorials to guide users to connect with TokenPocket and meta mask. If we have enough time later, I will send it here as well. Thank you 🙏

JZ: haha we have one tutorial https://roolend2021.gitbook.io/roolend-documentation/tutorial/tutorial-for-pc

PuddingSwap: yep~!

D. | Satoshi Club: nice! thank you guys!

Paul Mont | Satoshi Club: Thank you very much for sharing 🙂

Sam Yao: Nice 👍

Q2 from Telegram user @h1drX

It caught my attention that on your website you say that only 21 nodes are supported at most. What does this mean? Only 21 nodes worldwide will be able to mine in Hoo Smart Chain? Also, I saw that HSC adopts the consensus mechanism called PoSA, what does this consensus mechanism consist of? Does it bear any similarity to other mechanisms? Can you tell us why you chose PoSA as your consensus mechanism?

Sam Yao: Currently we can generate blocks from a maximum 21 nodes, but we could have many alternative nodes for backup purpose.

D. | Satoshi Club: 21 nodes concept is kinda similar to bsc with their 21 validators?

Sam Yao: In the future, we might even run contests among nodes

Yup

Its Consensus algorithm is similar to the one EOS uses, which is known as POA-Proof of Staked Authority. It can have faster block generation and lower transaction fee.

Paul Mont | Satoshi Club: So validators’ authority/reputation is important but also staking is needed for blocks validation? Could you please share some more details?

Sam Yao: The contest will be held in the near future. More details will be revealed hehe 😉

Paul Mont | Satoshi Club: Some nice hype building 😁

Ok, great, thank you very much for your answers guys 🙂 Question 3 is ready for you… and are you ready for it? 😁

Sam Yao: Ready but not so ready.

Just kidding

Paul Mont | Satoshi Club: Haha great 😁😁

Q3 from Telegram user @NSZR1

I would like to know a little about your token called $HOO, in your whitepaper it is mentioned that the role of $HOO on the HSC chain is equivalent to the position of ETH on Ethereum. However, you managed to maintain and even increase the benefits that users receive in HSC, with the particularity that the gas fees are extremely low, so I would like to ask you, in what way do you make the $ HOO token profitable for The company, as it has many benefits when used, however will it generate enough profits to maintain this extraordinary project in the long term?

Sam Yao: Thank you for your great question.

HOO is similar to the likes of BNB、HT、ETH, an original token on our smart chain.

The gas fee is around 0.003U，It is extremely user friendly. Due to a lower costs to enter, it encourages more users to participate our DeFi projects.

This creates a healthy cycle and benefits the entire eco-system. About profit for HSC, we want to look at it as funds for the future. As we grow our eco-system and help our users earn more profit, the whole ecosystem grows and profit is just a byproduct for us.

D. | Satoshi Club: can you share with us more info about your token? about max supply? how many tokens in curculation and what is your distribution model? you had or will have IDO etc?

Patricia: 100 million

Sam Yao: Max supply is 100M

D. | Satoshi Club: all 100 mil in circulation?

Sam Yao: Hoo won’t have ido

D. | Satoshi Club: then how people could get your token?

Sam Yao: Current circulation is 58M

Paul Mont | Satoshi Club: If you have a tokenomics paper, please feel to share it with our community 😉

Patricia: Cole will answer this question.

D. | Satoshi Club: that’s my favourite ducky sticker 😄

Cole ZHANG: We could buy $HOO on exchange like Hoo and MEXC. And also can purchase on Defi like pancake and puddingswap😊

D. | Satoshi Club: got it 😊 will you have any liquidity mining for users?

Sam Yao: Yup! We do

Come check it out on HSC 😉

D. | Satoshi Club: nice! we will be waiting for updates then 😉

Cole ZHANG: For us $HOO is not that important… $PUD, $ROO and $SYI of projects are the significant token for HSC 🤪

Sam Yao: Hahaha

Patricia: [ 👍 Sticker ]

Sam Yao: Any more question?

Paul Mont | Satoshi Club: 😁HSC’s value is the sum of all the value projects that will part of it in the future as well 😉

Sam Yao: Indeed

Q4 from Telegram user @Jonahapagu

One of the most common issues of Public chains is the difficulty with which an average user can build and deploy Dapps and Digital assets on them, as this will require a certain level of skills on most of these chains.. so how simple will it be to build and deploy a Daap or digital asset on HOO smart Chain, what level of skills will users who intend to build on HOO smart chain possess and will building on HOO smart chain be relatively easier and rewarding than building on any of the already popular smart chains available.

Patricia: Good question.

Sam Yao: HSC is a EVM chain. The technical difficulty to develop such a chain is similar to that of those mainstream chains. In the current world of blockchain, it is almost impossible to make it easier to have the most cutting edge blockchain technology. But because we have a very low gas fee, it is friendly to invite more new projects to join us.

PuddingSwap, Roolend, ShouYi are such great examples. All of them have successfully and efficiently passed the testing phase to get on our main net, almost without monetary cost.

Paul Mont | Satoshi Club: Clear! Thank you very much 👏

Patricia: You’re welcome😄

Cole ZHANG: Great Chain！😘

D. | Satoshi Club: so smart chain for building dapps should be very secure😉, you have partnered with any cybersecurity firms, which can help you check your contract and possible vulnerabilities?

Patricia: Cole will take care of this question

Cole ZHANG: Slowmist, Certik,Fairyproof, etc.😌

Patricia: 😎Cool

D. | Satoshi Club: you were audited by them?

if so, can you share the link on audit?

Patricia: yes

Cole ZHANG: Roolend and ShouYi are audited by fairyproof, and PuddingSwap is audited by Certik and slowmist

Every excellent project will consider about the security of users’ fund at first😃

Paul Mont | Satoshi Club: Yes, crypto could be considered a wild wild west in terms of safety.

It’s really wonderful and relieving to read that you’ve have already taken steps in terms of the security compliance 🚀

If you could share the links to the audits, I believe this or at the end of the AMA would be the best times to do so 😉

D. | Satoshi Club: and for now, we can go to the next question?

Austin ShouYi:

https://shouyi.ai/hsc/Shouyi-%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A-060921.pdf

JZ: Here is our audit report: https://roolend.finance/static/roolend-audit-en.pdf/      

PuddingSwap:

https://github.com/Pudding-Finance/Pudding-Farm/blob/master/audit/CertiK%20Security%20Assessment%20for%20Pudding-Farm.pdf

Sam Yao: Boom 💥

Ready for the next question!

Paul Mont | Satoshi Club: Amazing, thank you very much! 👏👏

Q5 from Telegram user @V1ct0r_26

One thing that is really popular right now are NFTs, as we know they can have different use cases and they can be created on different chains such as the Polkadot chain, Binance Smart Chain and the most popular ones the ERC721 type from Ethereum. What I would like to know is, will this Cross-chain compatibility of HSC will be available for NFTs of different chains as well? Will users be able to have NFTs on Hoo Smart Chain?

Sam Yao: Yup, we support the ERC721 protocol, but the wallet API on the mobile end might require a higher level of technical support. Our chain supports the exchange of NFT, and will have projects that supports those functions similar to that of OPensea.

D. | Satoshi Club: what about realising your own NFTs? do you have plans on that?

Paul Mont | Satoshi Club: So, while it’s already a feature now, more advanced NFT supporting features are definitely a thing that’s coming on HSC in the near future 😉

I like this question 🔥

D. | Satoshi Club: maybe we can expect even a new NFT Market on Hoo smart chain? 😉

Sam Yao: We have given our 10k of our own nft last week, all of which were claimed within the first 24 hours! Next week we will make it realizable, please stay tuned in 🙂

Cole ZHANG: Hoo exchange just released 3-year anniversary medal NFT🏅 and will be able to trade on HSC😊

Sam Yao: Bingo

D. | Satoshi Club: oh, very cool 👍

Paul Mont | Satoshi Club: Great! Wonderful initiative!

Patricia: https://docs.hoosmartchain.com/#/en-us/mainnet

Paul Mont | Satoshi Club: I’d recommend everybody here at Satoshi Club to follow up!🔝🔥

Patricia:

D. | Satoshi Club: thank you! good reminder to how set up a wallet 😇

Paul Mont | Satoshi Club: Thank you very much Patricia, that makes setting up Metamask for HSC much easier! 😉

Sam Yao: Yup yup!

Cole ZHANG: ☺️ thxxx

Sam Yao: Any more question?

Paul Mont | Satoshi Club: So no more excuses not to keep up and follow the news coming from HSC way more closely 😁

Yes, last question for this very first part of the AMA!

Q6 from Telegram user @orlemys

I can see you’re a Chinese project, and you’ve partnered with a few other Chinese protocols according to your website. However, I do not know much about these projects in particular, so I’d like to know if they are relevant in Chinese crypto spaces and what are the mutual benefits of partnering with them?

Sam Yao: In fact, we are not deeply involved in each project development itself. We are a neutral platform. We welcome all kinds of different outstanding projects and project teams from around the world. All of you are more than welcomed to download the HOO app, and check out HSC along with all of our wonderful projects.

D. | Satoshi Club: thank you for replying 😊

Sam Yao: Web: www.hoosmartchain.com

Group: https://t.me/HooSmartChain

Channel: https://t.me/HSC_Ann

Part 2 — live questions from the Telegram community

Q1 from telegram username @Zohaya

HSC projects include Roolend, ShouYi, and PuddingSwap. What are the goals of these projects? Are there any other projects on the horizon?

PuddingSwap: Puddingswap is the first decentralised AMM exchange on Hoo Smart Chain, and our team have a rich experience on blockchain and DeFi.

Our goal is to be the highest TVL Dex on HSC like Pancake or Uni.

JZ: RooLend is the first leveraged lending agreement on the HooSmartChain (HSC). Of course, we hope it to develop into the best leveraged lending agreement on HSC, and even in the entire DeFi ecosystem in the future.

And i will further explain our future plans and goals

For the short-term plan first, because RooLend has just launched and there is still a lot of development and operation work, we will mainly do the following things in the next few days:

1. Optimize our front-end and back-end product experience.

2. Continue to support new assets.

3. Plan to launch DAO staking pool.

In the long run, our main work will be concentrated on the contract development of leverage and vault. This part is crucial to the project, so it will be the most important work of the team.

Q2 from telegram username @Victor_26

 ⚠️ I saw on Twitter that Hoo Smart Chain has launched a Volunteer Recruitment Program, could you provide us more information about this program? What do we need to do if we want to be part of this program? What functions do these volunteers have on the HSC’s ecosystem? Also, are these volunteers any kind of HSC’s ambassadors or will they be different roles? What benefits do we get from being volunteers on your platform?

Sam Yao: https://twitter.com/hoosmartchain/status/1411723526122348551?s=28

This is our volunteer recruitment program.

Q3 from telegram username @akkyakky123 

What is Mission of HSC? What is further plan for Hoo Smart Chain?

Sam Yao: HSC aims to promote large-scale commercial applications based on blockchain technology, which heavily depends on HSC. HSC will continue to explore the blockchain industry in-depth to bring a more sophisticated and closed ecosystem. Our further plan is here to support our mission, we are going to develop our wider global community, we will do some airdrop campaign and AMA in the future. Our team will be joining major global events and hosting others from now till the next months and beyond.

Q4 from telegram username @woshixxs

Q1: How is ShouYi different from other mining revenue programs?

Austin ShouYi: Oh yes! Nice question!

Firstly, It’s easy to operate and easy to get profits. If you use our Dapp, you will find ShouYi is extremely simple and maximize the profit for users. We think that simply accessible should be the future of DeFi Dapps.

And we are committed to promoting the mature transaction aggregation and intelligent investment of traditional finance in the blockchain financial market.

We hope that more blockchain asset customers can have a comprehensive understanding of security risk control and asset portfolio and form an awareness to some extent.

we will soon develop some “breakthrough” and “innovative” financial derivatives services based on DeFi ecology:)

Q5 from telegram username @Tahsinahmett

Do you have more creative and innovative features than your competitors to make your project a leader in its field? Do you think there are any obstacles that make it difficult for you to be a Leading project?

JZ: For RooLend:

1. We support more diversified assets.  In the future, DAO organisation will vote to decide which assets should be supported by RooLend, which is an important governance right to hold ROO.

2. Risk control is more stringent. Now that we have chosen to support more diversified assets, the risk control will inevitably be stricter.

3. Tokenomic design. We have learned and improved RooLend’s tokenomic designe:generation of tokens will reduce every 30 days. It’s a deflation of the  circulation and can stabilize the token price.

PuddingSwap: It is real a good question about our obstancle… because Uni, Pancake, etc. really make a huge progress on Defi DEX, what we could do is follow our roadmap and cooperate with Hoo Smart Chain and other excellent projects.  Based on that the advantages of partners to create a new defi landscape.

Q6 from telegram username @arbestefy

may there be bugs or security vulnerabilities?  How does this project gain the trust of users?

  🚀 ♥️

JZ: Regarding this, we have done a security design for the business model during the development of RooLend, including common security issues and permission control;

Second, a large number of tests have done. Our team requires that the test coverage rate be above 95%;

The other is to find an excellent security audit team. RooLend’s contract code audit is performed by the well-known security company Fairyproof. We have maintained full communication with them during the audit process and received many valuable suggestions.

In addition to contract security, the security of additional services such as user interaction pages and data statistics are also very important. We have done a lot of development in these areas to ensure security.

Q7 from telegram username (questions deleted)

Austin ShouYi: What are the advantages of ShouYi?

We access to multiple ecology, according to users’ risk acceptance ability, set multi-level compound strategy, so one kind of coin will have multiple ways of mining.

At the same time, we support users to customize the risk control level so as to serve asset customers with different revenue goals. Accordingly, we provide leveraged auto-compound to further increase users’ revenue.

Secondly, ShouYi realizes asset staking of different ecology, combines certificates of deposit and corporate bonds of traditional finance, and realizes asset mapping, value transfer, and token settlement through cross-chain technology. This enhances the flexibility of users’ assets and also extends ShouYi’s value ecology.

How does ShouYi provide asset services to its users? and what is your website?

We provide options to them.  web: https://shouyi.ai/hsc

For risk averse users, ShouYi provide saving to them.  Users can deposit funds with no risks, and get SYI and interest.

Then we will guide the automatic compound of users who are willing to participate in LP to enter a high-yield pool with good depth, such as PUD/USDT. Users provide USDT, and ShouYi will automatically help users to mine.

What’ more, ShouYi will help users auto-compound.

Last, for professional users, ShouYi provides leverage to amplify the user’s LP volume, increases the yield according to the corresponding leverage ratio, and provides targeted asset staking and cross-chain asset flow services.

Q8 from telegram username @luk4jah

Since Hoo Smart Chain platform major languages is just for English and Chinese, how can people who speak different languages use your platform?

Sam Yao: We are diversifying our team with talents from around the globe, and we are aiming on the global market. Currently our app and websites only support English and Chinese. But we also have growing communities in USA, UK, Vietnam, Indonesia, Korea and many more to come. Our team will create strong support and make sure these users can use HSC in their own native languages. Again, being more user friendly is always our goal.

Q9 from telegram user deleted question

JZ: The first thing that needs to be emphasized is that the governance token ROO will become the main tool to adjust incentive measures, create a strong DeFi community, and help promote the development of the RooLend ecosystem. This is the purpose and goal of our ROO.

To pay tribute to Bitcoin, the total amount of ROOs is 21 million. Each block produces 2 tokens, and the production is reduced by 9% every 30 days, until the production is reduced to 0.2 ROO per block.

In addition to the gradual reduction, the fee income generated by the platform will be mainly used for repurchase of ROO and adding liquidity. Through production reduction + destruction, the ROO deflation mechanism is gradually realized.

Q10 from telegram username @xperia2

Hi! 💹

I see Hoo Smart Chain is looking for developers. Do you also have an ambassador program which will help Hoo Smart Chain to spread to regions where people English is not the main language? As I see in your website, you have mainly Chinese partners. This will also help to teach your project to other regions to take attention of investors.

@PatriciaWxy @samyaohk @Cole_HSC @PuddingSwap @JZZZZ2020 @Austin_ShouYi

Sam Yao: Yes we are quickly expanding our team with folks from around the globe, like I have mentioned above. We recently have added many multi-national influencers to the team, and we are speaking with multiple developers from countries other than china as well. At the end, the goal is create a more user friendly and platform with amazing profits where users have chances to earn more profit. So yes, we will take it one step a time, and look to spread even more both regionally and culturally.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/

Russian Telegram group: https://t.me/satoshi_club_ru/

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Chinese Telegram group: https://t.me/satoshi_club_cn/

Indonesian Telegram group: https://t.me/satoshi_club_indonesia/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Our partners:

Telegram: https://t.me/HooSmartChain

Website: www.hoosmartchain.com

We are pleased to announce our next AMA on July 8th 2021 at 02:00 PM UTC Time: Satoshi Club x Coinwind

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Coinwind 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. Coinwind Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Coinwind

For more details:
Coinwind Website – coinwind.com
Coinwind Telegram – @CoinWind
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Phuture and our guests were @Charles and @OliverMehr! The AMA took place on 5 July.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with Phuture.

Today our guests are @Charles and @OliverMehr!

Charles | Phuture: Great to be here!

Oliver Mehr: Thanks for having us.

Andrés M. | Satoshi Club: How are you doing?

Oliver Mehr: Doing well, thank you.

Charles | Phuture: Doing great. Things are getting exciting here at Phuture!

Gold Rocket | Satoshi Club: We are delighted to have you here today.❤️ @Charles and @OliverMehr!

Gold Rocket | Satoshi Club: Thanks for joining guys!

Andrés M. | Satoshi Club: You’re welcome😃

That sounds great🥳

Gold Rocket | Satoshi Club: Let’s start!

Introduce yourself please. How did you get to be involved in crypto & Phuture?

Tell us please about your position in Phuture?

Charles | Phuture: Both Oliver and I have worked together for the past 4.5 years. Prior to Phuture we worked in a partnership capacity at a London VC, deploying capital into crypto-enabled businesses since early 2016. We also made some ICO investments, QuantStamp, Havven (Now Synthetix) are some examples.

We have co-invested with the likes of Alibaba, Google Ventures, Kleiner Perkins etc.

Been focused on Phuture for the past 18 months. As I said before, things are getting exciting!

Oliver Mehr: My role is head of product at Phuture, working closely with all facets of the development and design team to refine Phuture with the aim of providing the best web3 indexing experience.

Charles | Phuture: My role is Head of Growth, I spend my time looking at our socials, thinking of growth hacking techniques we can use and everything in between.

Gold Rocket | Satoshi Club: Great background, guys👍

Andrés M. | Satoshi Club: Great, so in a nutshell what is Phuture?

Gold Rocket | Satoshi Club: What is the essence of Phuture?

Oliver Mehr: Phuture is a decentralised platform for the creation and investment of passive index strategies.

In a nut shell, Phuture allows anyone to create their own, or invest into an existing passive investment strategy.

Gold Rocket | Satoshi Club: Tell us about the benefits of your platform. How is it different from others?

Oliver Mehr: We make it simple for investors to obtain exposure into a sector or an entire asset class.

Phuture has been redesigned from its foundations to scale and as a result this design allows us to turn index creation into an entirely permission-less activity.

Thus, anyone can come to the platform and deploy a passive strategy.

Andrés M. | Satoshi Club: Like staking and farming services?

Oliver Mehr: All indices, where applicable, are optimised by pushing assets to yield optimisers such as yearn. Meaning that index investors benefit from the additional yield, improving index performance.

Gold Rocket | Satoshi Club: It’s really important segment of the crypto market!

Also we would like to know about your team. Who is on the project team core?

Oliver Mehr: Further, Phuture leverages a unique rebalancing architecture that aims to improve index performance by rebalancing assets at more advantageous times.

Therefore, we fully expect like for like indices created on Phuture to perform better than our comps

Charles | Phuture: Phuture is redefining the role of an index in a Web 3.0 environment. The idea that anyone or DAO can come to create an index that automatically rebalances and follows a set of rules e.g. top 10 by market cap, is really exciting.

Off-platform yield, as Oliver mentioned, is a game changer. Phuture is one of the first to be doing this in the crypto index sector.

Unlike other projects (not mentioning any names), we are completely product focused. We have spent the time to build something new and not yet seen before

Gold Rocket | Satoshi Club: Thanks for the introduction, we will have a question selected for the Part 1. Ready to start?🚀

Andrés M. | Satoshi Club: Well, it sounds so interesting, we have collected some community questions to learn more about your project.

Oliver Mehr: The Phuture protocol manages all rebalancing and reweighting actions.

It is literally set and forget for the user.

Which is perfect for not just a crypto native audience but also a non crypto native one too.

Gold Rocket | Satoshi Club: I think this has obvious benefits! 👍

Charles | Phuture: This is key. Crypto needs to take away the complexities. This is what Phuture does for its users.

Gold Rocket | Satoshi Club: Mass adoption in action👏👏👏

Andrés M. | Satoshi Club: It’s a great advance for the crypto technology.

Oliver Mehr: We will saturate the existing investors in crypto who are looking for index exposure fairly quickly.

This means that in order to achieve massive growth and scale we need to attract the huge cohort of existing index investors that are looking to attain even a small % of diversified crypto exposure.

Charles | Phuture: The Phuture protocol is built for crypto indices. This focus gives us a huge advantage, having designed and built the protocol from scratch.

Andrés M. | Satoshi Club: Thanks for the clear introduction about the project guys, would you like to add something before the community questions?

Charles | Phuture: We would love to invite everyone to the Phuture Testnet Launch Event – https://phuture-finance.medium.com/phuture-testnet-launch-event-31bd2dd9c4f1?source=———0—————————-

Andrés M. | Satoshi Club: Let’s join Satoshiclubbers.

Charles | Phuture: We are also running a PHTR giveaway – https://gleam.io/c9PRa/phuture-testnet-event-giveaway

Andrés M. | Satoshi Club: A lot of rewards🥳

Charles | Phuture: It’s all about token distribution 🙂

Into the right hands!

Andrés M. | Satoshi Club: Thanks for share it with our community, Satoshiclubbers don’t loose this big opportunity🥳

Oliver Mehr: If those rewards weren’t enough, we are also running a staking program… here ->

https://app.phuture.finance/staking

Gold Rocket | Satoshi Club: We will have questions from the community on this topic and you will have more to tell about😊

Charles | Phuture: More incentives will be announced on the 12th of July! Make sure to tune in to the testnet launch event 🙂

Andrés M. | Satoshi Club: Let’s proceed

Q1 from Telegram User @Shaa93

I read in Twitter: “One of the main risks to the Phuture protocol is onboarding assets that present a systemic risk to the platform”, so I think each asset is checked carefully before being whitelisted on the Phuture platform when there are so many projects scams and fakes! What solutions does Phuture have to filter high quality, legitimate projects to minimize risk before being whitelisted?

Charles | Phuture: Yeah, whitelisting of assets is key and something the protocol does. On top of this, the community will be able to pre-select indices or newly listed assets that can be incentivised with PHTR

Oliver Mehr: Phuture’s first line of defence is its token whitelist. We leverage tokenlists, an initiative started by Uniswap which allows projects to utilise existing asset lists used by blue chip defi projects such as compound, aave etc. We take these lists and refine them even further for Phuture’s use.

Assets must have sufficient on-chain liquidity

Preferably, they must have a DAO structure with core platform functionality controlled by multi-sig

Reputable teams

Battle tested projects that have stood the test of time.

Appealing to the lindy effect.

The Lindy effect proposes the longer something has survived the longer its remaining life expectancy is.

This is at the core of our asset selection. New assets will be added via community vote

Andrés M. | Satoshi Club: First time hearing about “Lindy effect” concept.

Charles | Phuture: You should join the Phuture Telegram and Discord, we share new concepts and ideas 🙂

Andrés M. | Satoshi Club: Do you have any token on plans?

It seems that is an innovative community, of course we will join 😁

Oliver Mehr: We will be launching with 40 assets initially. We will share these assets in due course.

The PHTR is already available to the public and can be found on Uniswap as well as Gate.io

Andrés M. | Satoshi Club: Thanks for the info. Let’s proceed with the next question😃

Q2 from Telegram User @shambulance

Can you tell us a bit about use case of ePHTR? Will it be on circulation? Are you planning a fixed ePHTR to PHTR swap ratio or it will be dynamic in the future?

Oliver Mehr: Firstly, users can only obtain ePHTR by staking PHTR

Only ePHTR holders can vote via our Snapshot portal.

So ePHTR provides you with voting power

Moreover, ePHTR holders are constantly receiving rewards

in the form of PHTR

So the ePHTR/PHTR exchange rate is always increasing in value.

It will remain dynamic forever

At the moment rewards are coming from the DAO treasury

Andrés M. | Satoshi Club: What are the usecases of each token? ePHTR and PHTR.

Oliver Mehr: In the future, protocol fees will also be distributed to ePHTR holders as well.

ePHTR = governance token and yield bearing variant of PHTR.

PHTR = access to governance token, must be bonded by off-chain solvers to perform core platform functions and will provide access to additional features of the platform in the future.

Andrés M. | Satoshi Club: What is the APR and what is the minimum amount of tokens needed to stake?

Oliver Mehr: Currently ePHTR holders are earning an APY of 30%

no minimum

Andrés M. | Satoshi Club: Wow, a big percentage.

Charles | Phuture: In the upcoming launch event we will be introducing a new liquidity mining program for the PHTR token. Another incentive to buy and hold PHTR 🙂

PHTR plays a critical role within the Phuture protocol

Gold Rocket | Satoshi Club: agree! the benefit is obvious👍

Andrés M. | Satoshi Club: Yes, another great reason to Hodl😁

Thanks for the explanation guys, ready for the next question?

Let’s go😃

Q3 from Telegram User @Asela1112

Focusing on tokenomics, you have incurred three types of fees calles Redemption fee, Yield fee & AUM fee. Please explain what’s the purpose of fees mentioned above & why did you integrate 3 types of fees? Where does this fee goes? Is it for the users or marketing purposes?

I didn’t see about burning mechanism of $PHTR except burning of the redemption fee. And also you have said about perpetual inflation up to a maximum rate of 3% per annum. So how will you control inflation rate of $PHTR without a proper burning mechanism? Also $PHTR involve as a governance right of the stakers & holders. How will franchise vote system work in Phuture platform? Will you renounce the ownership of Phuture platform to make a DAO System?

Oliver Mehr: Great question

Firstly, once we take the fee it is transferred to a fee contract.

Next the funds are used to buy back PHTR tokens

We then burn 20% of those tokens.

The remaining 80% is redistributed into ongoing Phuture initiatives such as liquidity mining, marketing, user acquisition, staking, community programs etc

Redemption fee is taken in PHTR for redeeming an index

Yield fee is taken from the yield we generate in off platform locations like yearn.

AUM fee is an ongoing fee we take on the total assets held in the system.

All fees are reinvested back into the ecosystem or distributed back to token holders.

The PHTR token contract has the ability mint additional tokens. Before any new tokens are minted a thorough governance proposal and vote would need to be conducted.

A max of 20mm PHTR can be minted at once. Although we are not expecting to have to mint more tokens.

The reason we included the option to mint more is to ensure that should we need to continue incentivising the ecosystem, we have the ability to do so.

I think other projects can run into issues with a hard cap where their ecosystem is not at the stage where it is self sustainable and they dont have the ability to mint additional tokens to incentivise growth.

We wanted to avoid that situation happening to us./

Andrés M. | Satoshi Club: Clear explanation, thank you

Btw, how can you assure that user’s funds will be safe? Have you done audits?

Oliver Mehr: We are having our contract code audited by Quantstamp.

Charles | Phuture: The CEO of QuantStamp is an investor in Phuture. Who knows, maybe there will be a QuantStamp index soon?

Andrés M. | Satoshi Club: Congratulations, that’s  a recognized brand

Gold Rocket | Satoshi Club: Who knows? 😊 But this is definitely a good sign! 👍

Andrés M. | Satoshi Club: Of course will be a great deal 😁

Let’s proceed with the 4th question, time to know about the great event coming😁

Q4 from Telegram User @yellowchamp

Phuture will have a “Phuture Testnet Launch Event” this coming 12th of July in which this event will be showcasing the Phuture testnet and the upcoming liquidity mining program. So as a hint for everybody,can you share some advance idea for your upcoming Liquidity program? What would be its mechanism and structure? Aside from Liquidity mining program,can you share what else we can expect with Phuture Testnet? Are there any airdropping and giveaways upon launching of Phuture Testnet? After this Testnet,what is the next steps to be looking forward in Phuture? Thank you

Andrés M. | Satoshi Club: Partially covered😃

Gold Rocket | Satoshi Club: But I’m sure the guests have something to add or clarify on this issue.😊

Charles | Phuture: Great question. We want to keep the event special and save the announcements. What I can say is, expect something exciting not only from the testnet but the liquidity mining program.

We are really excited to see how the community reacts to the simplicity and elegance of the Phuture protocol.

As for giveaways, we are running one to celebrate the upcoming event. Check it out here – https://gleam.io/c9PRa/phuture-testnet-event-giveaway

Andrés M. | Satoshi Club: How many tokens to distribute there?

Gold Rocket | Satoshi Club: Indeed! what you do is a unique quality product👏👏👏

Charles | Phuture: Next steps will be to continue growing the Phuture ecosystem, launch mainnet and scale as we find product market fit. The Phuture DAO controls 51% of the current token supply. We are excited to continue building out the core community contributors who help enable Phuture and it’s growth

The giveaway is looking to distribute $4k+ in PHTR tokens. Make sure to complete all tasks 🙂

Andrés M. | Satoshi Club: Great opportunity for our community before the coming pump I think 😁

Charles | Phuture: Alpha leak! 🙂

Andrés M. | Satoshi Club: Thanks for the clarification, let’s proceed with the next question, we are near to the end of this part of the AMA.

Q5 from Telegram User @Indomiekuy

Phuture project already doing ama with Satoshi Club and from last ama you will launching your testnet, so how is the result from your testnet? Can user also participate to test and try it ? Also what event do you prepare for the launching of your testnet?

Andrés M. | Satoshi Club: One of the events is the giveaway, Satoshiclubbers https://gleam.io/c9PRa/phuture-testnet-event-giveaway

Charles | Phuture: Testnet launch event will be taking place on the 12th of July. We will be doing a live demo and running through the testnet, which we will release shortly after.

We most likely run a bug campaign after launch. Details on this are still to be decided.

Oliver Mehr: Once our testnet goes live everyone is welcome to try out the platform. We will continue to add functionality to the testnet and will be looking for user feedback.

Charles | Phuture: The preparation consists of rigorous testing and re-testing. Not to mention letting the good folks in crypto know what’s happening! Spread the word.

Andrés M. | Satoshi Club: Don’t forget to share with us the results of the launch, we are excited for that👏

Charles | Phuture: Absolutely!

Gold Rocket | Satoshi Club: thanks for sharing👍

Andrés M. | Satoshi Club: Now we have the last question of this part of the AMA.

Q6 from Telegram User @NataliyaKil

For the third quarter, you have scheduled a snapshot of voting for gasless governance. The date has already been set, what is the structure of this event and who can take part in it?

Charles | Phuture: Snapshot will be ready for the mainnet launch date, which is not yet set. It’s already implemented in Phuture. Technically we could use it today.

Oliver Mehr: Absolutely, we are excited to be bringing our community gas-less voting

We believe this removes one of the key barriers to entry for users looking to participate in governance

Gold Rocket | Satoshi Club: Yes, this is a landmark event

Andrés M. | Satoshi Club: That will increase mass adoption, great job for part of your team, you have a great project in hands 👏💪

Andrés M. | Satoshi Club: Well, that makes 6/6 questions answered, thank you so much for your time and clear answers guys.

Now is time to receive a ton of questions from the Satoshiclubbers😁. We will open the chat and you should choose your 10 favorites questions to answer, ready to go?

Part 2 — live questions from the Telegram community

Q1 from telegram username @JoanaZ

➡️➡️When staking on PhutureDAO, you can use two different tokens: PHTR and ePHTR. The PHTR is straightforward, but why do you need the “enhanced PHTR”? Have access to one-of-a-kind services with this token?

Oliver Mehr: ePHTR ensures that users who vote are tangibly connected to the protocol. This ensures that users who are voting and submitting proposals are more aligned with the protocol and thus incentivised to make better decisions.

Q2  from telegram username @slla1112

Is there a particular reason why PHUTURE prefers the Ethereum network? Do you have plans to include other networks in your system in the future?

Charles | Phuture: Ethereum has a phenomenal user base which Phuture intends on working with.

Our vision is to become the de facto index provider on all protocols and chains. Building out our brand on Ethereum will allow us to dominate on the newer chains emerging.

BSC, Solana, Polkadot are all places Phuture will grow into.

Q3 from telegram username @meml97

🧨     Where will I be able to buy PHTR? And at what price exactly? @OliverMehr @Charles

Charles | Phuture: I personally see now as a great time to accumulate PHTR. How can you not have exposure to a crypto index provider at the protocol level?

Our focus has been on the product. Once the testnet is live, we will begin looking at new incentives to help distribute and grow the amount of PHTR holders, which helps the Phuture ecosystem.

Right now, you can buy on Uniswap or Gate.

Q4 from telegram username @captainprice111

Why does the Phuture platform see itself as the future of crypto indexing? Do you think #PHUTURE will break new ground in crypto?

Oliver Mehr: Absolutely, Phuture is the first to bring on-chain and off-chain dynamics to crypto indexing. Our architecture enables us to support permission-less index creation, better rebalancing performance, easier multichain support, deep index liquidity from day 1 and a non constrained design that provides scope for leveraged indices, yield optimisation and more in the future.

Q5 from telegram username @alptrader

You mentioned at first you will only launch 40 assets so in the future do you plan to add more assets into the platform? Do you require whitelisting?

Oliver Mehr: Absolutely, we expect Phuture to eventually list 100s of assets. Each new group of assets will vetted and only added to the protocol after a vote has been passed.

Q6  from telegram username @csgonub

What is it that you are focusing right now most?

Charles | Phuture: Product. Community. Growth.

Join now:

https://t.me/phuture_group

https://discord.com/invite/frRD3Ck

Q7 from telegram username @arboledae

How important are financial alliances / partnerships for your project?  What can you tell us about your latest alliances, what benefits will they bring to your community?

Oliver Mehr: We put a lot of value on productive partnerships. Phuture utilises a lot of other decentralised protocols and as such, the opportunity for us to partner with these protocols exists. We are power users in some of these protocols and actively exploring how we can collaborate more closely. F or example, we use 0x API, keep3r network, yearn and uniswap. Just to name a few.

Q8 from telegram username @orlemys

Once the protocol is live, the community will have a say on how the DAO’s funds are allocated, which amounts to over 50% of the total token supply. How will this take place? Do you have a governance token? What users are allowed to vote and what are the minimum requirements to do so? Also, what are some examples of the ways the DAO funds can be allocated?

Charles | Phuture: When you stake your PHTR, you receive ePHTR, this is what’s used for governance.

The Phuture community can propose new ideas, vote on others, and have their voice heard.

Allocation of capital will be the benefit the overall ecosystem. If it doesn’t make sense for all, the proposal won’t likely pass.

Q9  from telegram username @Sumione

Hello

@Charles  @OliverMehr

What is the official contract address to buy $PHTR in uniswap? Since eth fees can be high can I buy in BSC like pancakeswap?

Charles | Phuture: Official Contract address (please always check as there are scammers out there): 0xE1Fc4455f62a6E89476f1072530C20CF1A0622dA

We are NOT yet on BSC or pancake swap.

Pair address: https://app.uniswap.org/#/add/v2/ETH/0xE1Fc4455f62a6E89476f1072530C20CF1A0622dA

Make sure to keep an eye on the medium for the latest updates RE the token:

https://phuture-finance.medium.com/

Telegram is a great place as well – https://t.me/phuture_group

Charles | Phuture: If you want alpha leak. Check out our Gitbook – https://docs.phuture.finance/

Q10  from telegram username @luk4jah

Phuture uses solvers to ensure the proper operation of the platform. Solvers execute three core protocol functions:Rebalancing,Recapitalisation,Re-weighting.Who are these Solvers and how important are they to Phuture?Can anyone be part of this solvers or you get to choose them?What will be the benefits of these solvers?Will they be rewarded? Thanks

Oliver Mehr: Solvers are the backbone of the Phuture protocol. They perform platform critical functions including rebalancing and reweighting. In order to become a solver you must bond an amount of PHTR tokens. Once you have bonded these tokens your address will be whitelisted to perform these functions. Each function that the solver executes will be rewarded with KP3R credits. These credits will be worth more than the cost of executing the function and results in positive expected value for the solvers.

If solvers act maliciously they will be slashed. The platform ensures that it always has more slashable value from the solvers than the solvers have access to from the  protocol’s funds.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/

Russian Telegram group: https://t.me/satoshi_club_ru/

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Chinese Telegram group: https://t.me/satoshi_club_cn/

Indonesian Telegram group: https://t.me/satoshi_club_indonesia/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Our partners:

Telegram: https://t.me/phuture_group         

Twitter: https://twitter.com/Phuturedao

We are pleased to announce our next AMA on July 7th 2021 at 01:00 PM UTC Time: Satoshi Club x Hoo Smart Chain

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hoo Smart Chain 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. Hoo Smart Chain Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Hoo Smart Chain

For more details:
Hoo Smart Chain Website – hoosmartchain.com
Hoo Smart Chain Telegram – @HooSmartChain
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on July 6th, 2021 at 03:00 PM UTC Time: Satoshi Club Russian x Railgun Russian

⚠️Click to see the hour
⚠️Total Reward pool: $200

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Russian Satoshi Club Telegram group
👉 Join Railgun Russian 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. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 100/10 users – Open chat for 120 seconds. You can post Max 3 questions. Railgun Russian Team will select 10 questions and answer them.

For more details:
Railgun Russian – @Railgun Russian
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

PART 1. Introduction of ArtSmiley project and community questions.

Hello, Satoshi clubbers and guests of this site. Let’s talk today about NFT project.

ArtSmiley is a Multisided Art Marketplace that Democratizes NFT & Digital Art and brings it to mainstream art aficionados.

The plan of AMA session:

1. Part – Introduction and preselected questions.
2. Part – Live questions
3. The Quiz about ArtSmiley

The reward pool is 500$

Leading the AMA our clever and fun admins:

Andrés M. | Satoshi Club – @AndresM77

Luis Merino 🇪🇸 | Satoshi Club – @LuisMe7

The Representative of the project:

Lurdh Allam – @LurdhArtSmiley – CEO & Co-founder of ArtSmiley

Entrepreneur and experienced business management professional

Introduction of ArtSmiley project.

Luis merino 🇪🇸 | satoshi club:

Hello everyone and welcome to the second ama today. Our guest is @LurdhArtsmiley from Artsmiley. Welcome to Satoshi club 😀

Lurdh allam:

Thanks for the opportunity, a pleasure to be here looking forward to explaining more about Artsmiley NFT.

Luis merino 🇪🇸 | satoshi club:

How are you today? Are your fingers ready for some great questions? 😉

Andrés m. | satoshi club:

We are glad to have you here😃

Lurdh allam:

All good and I am absolutely ready for it

Luis merino 🇪🇸 | satoshi club:

That’s great!!

Luis merino 🇪🇸 | satoshi club:

So please, as an introduction, can you please tell us a few words about yourself? Also explain briefly what’s Artsmiley.

Lurdh allam:

Sure, let me explain you.

• About me:

👉i am Lurdh allam: ceo & co-founder of Artsmiley. 

👉passionate art enthusiast & collector

👉education & experience:  I have done my masters in business administration (mba), masters in engineering with over 20+ years of experience working for various international companies in operations, strategy, and business management both in europe & the middle east.

Luis merino 🇪🇸 | satoshi club:

Great background Lurdh! Nice to meet you 😊

Andrés m. | satoshi club:

Yes, great background, now please tell in a nutshell what is Artsmiley?

Lurdh allam:

• About Artsmiley:

Artsmiley, a multisided art marketplace that democratizes NFT & digital art and brings it to mainstream art aficionados.

👉Artsmiley was established in 2017 and in operations since 2018 as middle east’s leading art marketplace.

👉bringing NFT based ownership for both digital and physical arts using Binance smart chain to the largest multisided art marketplace in gulf.

👉user-friendly & interoperable NFT marketplace linked to the leading gallery and a large number of traditional and new age buyers – making it a full ecosystem for everybody’s benefit!

👉gulf capital SME awards 2020 “digital business of the year award” winner.

Artsmiley offers its services to both b2b & b2c clients.

Done

Luis merino 🇪🇸 | satoshi club:

What an explanation 😳 You have fast fingers, huh? 😉

So, I guess the community is looking forward to the first part of the ama. Are you ready? 😄

Lurdh allam:

Sure, looking forward to it

Preselected questions about the ArtSmiley DeFi project.

Andrés m. | satoshi club:

Q1 from telegram user @jmagsss

I saw on your website that Artsmiley started way back in 2017. During the early stages of the company, did you already considered implementing cryptocurrency and blockchain technology into Artsmiley’s ecosystem or did you just have this idea recently during the NFT boom?

Lurdh allam:

You are right, we have established Artsmiley in 2017 and operating since 2018 as a traditional art marketplace.  To be frank I don’t have that moment in time an idea of going into block chain.  After 2 years of operation, I was strongly started believing that adding technology can help a lot to our customers and stakeholders, especially to fulfill my vision of making art more accessible and affordable to all communities, I thought it is essential to have blockchain technology.   As this technology can help authenticate art pieces, which is one of the problems I used to have as an art collector.  Also multi ownership of art piece, which is never practical in the traditional world.  Last year I firmly decided to go in the direction to make Artsmiley more of a technology platform.

After people episode, NFTs started booming up, my thoughts become stronger and now I am here with the development of Artsmiley NFT marketplace.

Done

Luis merino 🇪🇸 | satoshi club:

Lovely, Lurdh. The blockchain world is the way 😉

Lurdh allam:

Yes. And it is the only a way…

Andrés m. | satoshi club:

Fascinating, you choose the correct way of the techno revolution

Lurdh allam:

Absolutely no more pumped up. Making it happen and create something unique.

Andrés m. | satoshi club:

How is your team conformed, btw? How big is it?

Lurdh allam:

We are a team of 4, 2 x co-founders, 2 x senior members handling two critical functions.  Other than this we have a supporting tech partner who has more than 10 personnel, give support as the business demands.  Also have two reputed advisors, one from UAE & another from Sweden.

Lurdh allam:

If you would like to know I can provide more details about the team.  Between us we have more than 100+ years of professional experience.

Luis merino 🇪🇸 | satoshi club:

That’s a lot! What a team 👏😊

Andrés m. | satoshi club:

Wow, that’s what a big project needs😁

Lurdh allam:

Great, thanks, all of us are experienced team in our functions.  Anyone wants to learn more details at www.ArtsmileyNFT.com

Andrés m. | satoshi club:

Thanks for sharing it, ready to proceed with the next question?

Lurdh allam:

Sure, I am.

Andrés m. | satoshi club:

Q2 from telegram user @andrey_seleznov

Hi art smiley!

I understand art smiley has been selling physical art for some time, right? Now you also open an NFT art marketplace that will allow you to expand into the digital world of blockchain. Good thing about the NFT technology is that not only does it allow the sale of art, it can also be natively used as a proof of ownership of the digital art. Do you plan to also sell a digital NFT ownership certificate when selling physical art pieces? If so, could previous buyers reach out to art smiley to generate NFT ownership certificates for the art that was sold before the NFT marketplace was opened? Thank you!

Lurdh allam:

👉yes you are right we have been selling physical arts in our traditional marketplace for more than 4 years.  We would like to leverage this experience by showcasing their artworks under NFT based ownership.

👉our platform accepts both traditional artists and digital artists and offering NFT based ownership to both these art forms using Binance smart chain (BSC). 

👉if you’re a digital artist, you can use our platform to directly create your NFT and trade. For physical art, the process is a bit different as we need to validate a few facts like authenticity, ownership, etc. All of these processes are designed to be fully automated and frictionless.

Reference to previous buyers, if they can approach us to generate NFT ownership, definitely we will do this by digitizing their artwork.   

In other cases where new works have been produced, we can time-lapse all the art-making process and tokenize them into block chain for NFTization.

We are bringing phygital works (physical & digital in NFTs) this is something unique that no other NFT marketplace or project offering and we see this as a big breakthrough, which can elevate ArtsmileyNFT a potential player in the market. 

Hope this clarifies your question.

Done

Andrés m. | satoshi club:

Thank you, so clear and detailed answer. Btw, could you share some of the pieces of art from your marketplace? We love digital art here.😃

Lurdh allam:

Do you want me share here 😃

Andrés m. | satoshi club:

Please, if you can😁

Luis merino 🇪🇸 | satoshi club:

Specially stickers. I’m a sticker lover. Hahaha

Lurdh allam:

This is
stickers

Previous
Next

An NFT work

Andrés m. | satoshi club:

Wow fantastic, who is the designer?

Lurdh allam:

Ibrahim, who is our NFT artist

These are traditional oil paintings.

Lurdh allam:

Hope you guys love it.

Luis merino 🇪🇸 | satoshi club:

Looooove it

Andrés m. | satoshi club:

Of course, we do, congratulations to the artists 🥳👏👏

Wow, I really need one of them, how expensive are these pieces? Do you have auctions to sell them?

 

Lurdh allam:

This is approx. $3000, oil painting done by a Pakistani artist.

Luis merino 🇪🇸 | satoshi club:

They are amazing 😍😍😍

Lurdh allam:

Great, thanks…

Luis merino 🇪🇸 | satoshi club:

Ibrahim is a fantastic painter 👏👏

Lurdh allam:

Anyone wants some works, they can reach me or my team via Artsmiley.com or social media channels

Luis merino 🇪🇸 | satoshi club:

Got it 👀

Andrés m. | satoshi club:

Satoshiclubbers, let’s check it💪

Luis merino 🇪🇸 | satoshi club:

So, the third question is knocking the door, shall we open it?

Lurdh allam:

Sure

We can offer discounts to your community

Andrés m. | satoshi club:

That would be awesome, thanks for care about us😃

Andrés m. | satoshi club:

Q3 from telegram user @nszr1

Artsmiley is a platform that resides in the United Arab Emirates, and on its website, I observed that when a user buys or rent a piece of art you are in charge of all the logistics and installation of it, I would like to know if these benefits and the platform are only available to users who reside in the united Arab Emirates, or if on the contrary, anyone in any part of the world can buy or rent a work of art through this platform and receive this logistical help, and in case this is not possible at the moment, do you plan to expand globally to other continents such as Europe, north America or Latin America? Or will you focus only on the Asian market?

Lurdh allam:

Good question, well studied about Artsmiley, let me explain you.

Andrés m. | satoshi club:

Thank you, please take your time!

Lurdh allam:

Artsmiley offers all kinds of contemporary art and sculptures from around the world.  Our community have more than 1500 artists from over 50 countries.

However, we are offering framing & installation services only in the United Arab Emirates only.  The reason for this is the shipping cost associated with framed artworks.  We can offer framed services for masterpieces as the value of the works are high, in these cases shipping and insurance cost is nothing in comparison with the value of the work. 

As we grow, we have plans to have partnerships with local framing companies around the world using our artist network, so that we can ship the artwork rolled but framed locally and delivered to clients.  The same applies to installation as well.

Also, our artworks clearly labeled for installation, so it makes it easier when handling by our clients.

Done

Andrés m. | satoshi club:

Got it, is good to know that it will be affordable for everyone in the future.

Luis merino 🇪🇸 | satoshi club:

I have no extra questions. Great explanation, Lurdh 😄👍

Lurdh allam:

Absolutely, we always want to make art reach every home at an affordable price.

Andrés m. | satoshi club:

Btw, we would like to know more about an important event for Artsmiley, I’m talking about your IDO, how to join and which results have you had until now?

Lurdh allam:

Sure

Andrés m. | satoshi club:

Great job👏

Luis merino 🇪🇸 | satoshi club:

The hot question 🔥😂

Lurdh allam:

Artsmiley using Finminity as a launchpad.  Offering both private and public sales.  Our IDO process already started.

Luis merino 🇪🇸 | satoshi club:

Where can we find more info about this? 👀

Lurdh allam:

Here is the IDO process

Luis merino 🇪🇸 | satoshi club:

The end of July 7th is close

Lurdh allam:

However, we’re providing exclusive and limited amount inclusion for Artsmiley community that has come up in the last few days (and growing exponentially) and may have missed the snapshot period in Finminity.

The interested community can reach us using the link Artsmiley IDO (https://docs.google.com/forms/d/1zwizyksebwyqachntkaufw2aca5lah42gtmjxpa9-v4/edit?ts=60dd9ce5)

Luis merino 🇪🇸 | satoshi club:

Satoshi clubbers… Check this message 👀

Important one

Lurdh allam:

Please use the link and send your details, if interested we can reach you.

Luis merino 🇪🇸 | satoshi club:

There you are! Thank you Lurdh.

Lurdh allam:

I request all members be supportive of this drive and I am confident we are building something unique and in view of the social responsibility of supporting the artist community

Luis merino 🇪🇸 | satoshi club:

That’s very important. Artists are never as great valorated as they should 👏

Andrés m. | satoshi club:

After this amazing information, is time to proceed with our 4th community question.

Q4 from telegram user @sotiy97

Something that caught my attention about Artsmiley is that you have advantages over your competitors, among them are, the knowledge of the art market, its technology and end to end process, which among them highlighted me very much that you have recognized brands in the middle east , you have NFTs assigned to realworld artworks (both digital and physical), and they have community vote through ArtsDAO that allows community participation, and all these characteristics make Artsmiley a pretty strong platform in the face of market competition. As art smiley plans to expand its market beyond the middle east, do you plan to implement an auction system that allows the greater participation of both artists and buyers, and in this way generate a greater impact on the community, which would allow increase the participation of new artists, users and buyers?

Lurdh allam:

I really in love with your community and their dedicated efforts in making study about Artsmiley.  I can see this in their questions.

@sotiy97, as you have rightly pointed we are building something unique and offering “phygital” work, this is something none of the competition are offering.  Our goal is to bring mainstream of artists into NFT ownership and bridge the gap between digital & traditional world of arts.

The auction system is always in my mind,  after IDO we will be launching our new Artsmiley.com platform along with mobile application, where I already have plans to run a pilot project of auction specifically focused on bluechip /experienced artists works in traditional world and curated digital works in digital world.

The auction system, definitely adds great value and shows a great impact on the community as you have mentioned this will help bring new generation artists to take art as a serious profession.  Even with NFT revolution the trend already started.

Done

Luis merino 🇪🇸 | satoshi club:

You are absolutely right 🙂

Andrés m. | satoshi club:

A lot of great things are coming, could share with us your roadmap? To check what else is coming for Artsmiley

Lurdh allam:

Sure definitely

Road map:

Our short term goals:

• Q2 2021: project commencement
• Q3 2021: smiley platform launch
• Q4 2021: DAO governance
• Q1 2022: growing smiley ecosystem
• Q2 2022: smiley AR/VR platform

Luis merino 🇪🇸 | satoshi club:

2021 is going to be great 😄💪

Lurdh allam:

In the next 5 years, my goal is to be one of the leading NFT marketplaces in the art world and want to number one in the Asia region.  We also envision expanding NFTs from current art to music, gaming, etc.,

For a more detailed road map please visit www.ArtsmileyNFT.com

Andrés m. | satoshi club:

2022 as well, AR/VR platform sounds so innovative

Lurdh allam:

Yes, a lot of responsibility and commitment to our community and investors.

Luis merino 🇪🇸 | satoshi club:

Yeah, of course

Lurdh allam:

Absolutely this is something we would like to introduce in the NFT world for carrying virtual exhibitions, private viewings, visualization of artworks in the real world.

Andrés m. | satoshi club:

As a virtual museum, right?

Lurdh allam:

Absolutely…

Andrés m. | satoshi club:

Well, thanks Lurdh for the great answers. Time to proceed with our next question, we are almost ending this first part of the ama😃

Q5 from telegram user @arisabela

The staking contract of your platform allows NFT holders to receive rewards, can you tell us the details about this staking system and how it works for NFTs? Can rewards be received passively just for being a holder, or is it necessary to invest smiley tokens or other assets to obtain the rewards?

Lurdh allam:

Staking contracts will come into existence in q3/2021.  We use $smiley tokens as our medium to trade in the NFT marketplace.  You will receive rewards being a holder, some use cases, and advantages for NFT holders listed below.

👉smiley tokens used for NFTization

👉smileys are essentiallythe underlyingg currency (or medium) to trade art.

👉smileys are used in every transaction and are necessary to buy NFTs available on the platform

👉as an Artsmiley token holder, you will get a preferential price for all artwork (NFT or non-NFT) listed in the marketplace.

👉being a smiley token holder, you will save up to 10% off on all Artsmiley platforms and get a vip access to online art exhibitions.

👉smiley for yields from the secondary marketplace

👉art rentals, sales rewards are distributed back to the NFT holders as smiley tokens

👉any NFTs used for ads & exhibitions also paid through smiley

Done

Luis merino 🇪🇸 | satoshi club:

Do you guys need more reasons to buy and hold smiley tokens? 😉😂 Thank you Lurdh, ready for the last question?

Lurdh allam:

Yes, I am.

Andrés m. | satoshi club:

Q6 from telegram user @itsmelissa3

Do you accept in Artsmiley any kind of hand painted art? Are there any restrictions or censorship? What kind of art is not supported by the platform? Some platforms do not accept nudity, while others do. Are artistic nudes accepted in the Artsmiley gallery?

Luis merino 🇪🇸 | satoshi club:

Btw, this one is a great question. I like it 😀

Lurdh allam:

We normally accept all kinds of contemporary art and sculptures in our platform.  Artist registered into our platform have to upload their artworks, once done they will be sent to the curator for review, authentication, price check, etc., once he approves, artworks will be showcased at our platform and match with potential buyers.

Reference to nude works, we don’t accept in the public domain due to in-country restrictions, however, these always sell outside the platform and we keep these collections separately with us.  However, in the new platform, we are having plans to showcase under some conditions, again technology becomes very handy.

Done

Luis merino 🇪🇸 | satoshi club:

Wow 👏👏

Andrés m. | satoshi club:

We understand perfectly.

Luis merino 🇪🇸 | satoshi club:

So… A great storm is approaching…

Andrés m. | satoshi club:

@LurdhArtsmiley thank you so much for your great and fantastic answers in this first part of the ama, it was an exciting time, we are happy to learn more about Arts miley 😁

Lurdh allam:

My pleasure

Luis merino 🇪🇸 | satoshi club:

Prepare your umbrella…

Lurdh allam:

I am going overwhelmed

Andrés m. | satoshi club:

Now is time to interact with our dear community😁 a ton of questions are coming. Ready?

Luis merino 🇪🇸 | satoshi club:

Please, remember the rules and prepare your best questions. I will open the chat for 2 minutes. Ready… Steady…

Goo!

PART 2.Questions about the ArtSmiley 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 ArtSmiley 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 @alice_wonderland12

Art pieces in ArtSmiley can be sold in digital and also printed, so they are not unique pieces of art, do NFTs have place in your ecosystem? Do you also have unique pieces?

Lurdh Allam:

Let me explain you this, as you misunderstood the concept of ArtSmielynft and PHYGITAL works.

We sell both physical work and digital artwork through NFT ownership. These digital works have unique tokens and they are only one /unique. Reference to making art prints, this is up to the NFT holder, rather he hold an investment (digital asset), he better earn some yields by offering art prints through traditional art smiley marketplace. This way investors making money, artists have income from secondary sales, and ArtSmiley getting their transaction fee/commission. Here is no way we are compromising the NFT uniqueness in digital form.

Q – 2 from a telegram user @obulin

Wish you great success in your project 🔥 NFT works by Ibrahim look great, especially oil paintings.

You said there will be discounts on those NFT’s. Can you please let me know the maximum discount I shall get for the traditional oil paints? 

Lurdh Allam:

We will offer discounts of 15% on all oil paintings, we have a large collection of these paintings under the creation “TREASURES OF GULF” All works are oil painted and framed nicely. This discount applies for all Satoshi club members.

Q – 3 from a telegram user @Antoni_azx

I could see that among the differentiators of your platform you focus on partnerships with Art Fairs and Exhibitions, can you tell us some of them? And what is the position of ArtSmiley in relation to the physical exhibits of the real world? What role do smiley tokens play?

Lurdh Allam:

Our experience in the art industry, our community, our partners will definitely a greater advantage for ArtSmiley. We have partnerships with local and international galleries, hotels, corporate offices, art exhibitions like Art Dubai, World Art Dubai, The Hotels show, INDEX and many more..

During the pandemic lot of physical exhibitions are closed, this forced to find new ways since ArtSmiley showcasing their local and international artists via virtual exhibitions using different available solutions. Even when things are getting normal, physical exhibitons will not be so popular in my opinion for two reasons, as they are very expensive in organising and 2nd reason, they are missing younger audience who are more tech savy and want to watch everything on their fingers. This is exactly where ArtSmiley want to introduce virtual exhibitions for their works using latest technologies like AR/VR and other avilable solutions.

For these exhibitions we will be using Smiley tokens as a medium to pay.

Q – 4 from a telegram user @Tony253210

ArtSmiley has a very interesting Renting system, where user can obtain the painting without buy it, but how this can be done? Why should I rent instead buy?

Lurdh Allam:

I have introduced rental of art works for the first time in United Arab Emirates, in fact to say in Asia. There are only two other known players in the world who rent artworks.

I introduced this product in line with the vision to make art viable career to artists and also to address the problem of many hospitality industries, who don’t have option to showcase variety of original artworks on a regular basis, as this can provide a great ambience to their clients.

Artists who produce many works but they don’t sell often, this keeps lot of stocks around their home, shelves or under their beds :). Rather these art works doing nothing, it will be a great opportunity for artists to rent their works on a small portion of value of original artwork. On the other hand hotels, corporate offices can rent these pieces to decorate their walls and provide new ambience to the clients.

To protect from stealing the content or from tampering of artwork, we have plans to use blockchain.

Q – 5 from a telegram user @victorogb

ArtSmiley offers a variety of services to art lovers and enthusaist, amongst which is it’s Corporate Services; boasting of features such as the Art for Business, Art for Trade and Gift Guide. Can you briefly talk on these corporate features as provided by ArtSmiley, how?

Lurdh Allam:

ArtSmiley offers the following services to its customers both consumers (B2C) and Businesses (B2B):

👉Original artworks/paintings
👉Limited edition art prints including photography prints
👉Commissioned paintings
👉Art rentals
👉 Online and Offline Exhibitions

👉NFT Tokenization Engine
👉NFT marketplace
👉ArtYield earnings distribution to the NFT Holders

We provide businesses end-to-end services i.e. right from selection of artwork to installation of artworks.

Q – 6 from a telegram user @Ashia_24

Can you give us details about the opportunities do you offer for your NFT artists?

Lurdh Allam:

As a creator / Artist you will have the following benefits from the platform:

👉Access to Artsmiley platforms with free of cost
👉Artists dashboards
👉Pricing & marketing support
👉Display of works in public domain
👉Opportunities to participate in both virtual & physical exhibitions
👉Opportunities to sell artworks to multiple buyers
👉Secondary sales rewards and many more

Q – 7 from a telegram user

@Errina01

What are the quality & attractive features does your project consist of which attracts users to participate in your project?

Lurdh Allam:

We are differentiating ourselves by focusing on three of our core strengths and these i consider as attractive features the project have, that include;

Our knowledge of art markets — we are a recognized brand in the Middle East that has partnered with art exhibitions and art fairs to increase our gamut of quality of art on displays. Blend this with our vast network of talented artists, art collectors, and corporate buyers.

Our technology — what also sets us apart is the integration of our traditional and NFT marketplaces and the way the audience transact using smiley tokens on the platform. Indeed, we facilitate NFTs that are linked to real-world art. We also enhance NFT staking and art yields for rewards distribution from sales and rent.

Last but not the least, is our end-to-end process — indeed, the way we seamlessly onboard artists and facilitate overall art curation and sales is the reason we have gained traction so far, and are going to reach further heights. Add to this our community voting via ArtsDAO and the enabling of advanced AI processes to match buyers with the art they would like to have, and you get a platform designed to provide an unforgettable experience for all parties concerned!!

Q – 8 from a telegram user @shohan1244

Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

Lurdh Allam:

Total tokens available are 100 Million. We are going into IDO with 20% tokens i.e. 20 million, in which 8 million will be offered for public sale and 12 million offered for private sale. Here you will find tokenomics.

Q – 9 from a telegram user @kiyokoooshimizuu

How will you make sure or what are your ways to prevent the artist from tokenizing their art nft on multiple blockchains?

Lurdh Allam:

Good question, right now only way protected by signing agreements between artists and artsmiley. However your question make me to think, what better i can do to prevent using technology. My answer may not be perfect but this is the reality what we have. Definitely i will be looking into this seriously.

Q -10 from a telegram user @Sumione

How secure is your platform and what are the security measures adopted? have you done any Audit for security check and most importantly for trust too?

Lurdh Allam:

ArtSmiley has an experienced team of blockchain and cybersecurity experts, who will make sure there are enough protocols been set up for the security of the whole marketplace. This is one of our topmost priority areas, and we will always thrive to work on improving our systems to ensure robustness. Also, for your information, all our smart contracts will be audited as and when we make any changes to them by a security auditor of repute. In addition, the website will also go through cybersecurity audits and improvements.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the ArtSmiley 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.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: ArtSmiley

Telegram group  |Instagram |  Tweeter  |  Website  |  Facebook

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 SappChat and our guests were @ogtothestar @sappchat001 @osopn and @vladimir_katansky. The AMA took place on 5 July.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello  Satoshi Club! We are happy to announce our AMA session with Sapp! Welcome to Satoshi Club😀

Sapp Chat: Thanks for having us today

Mary | Satoshi Club: Hello, welcome to Satoshi Club 👏

Gold Rocket | Satoshi Club: Hi dear Satoshi Club❤️!

Mary | Satoshi Club: How’s going?

Sapp Chat: I am the speaker for today’s AMA

Other team members are also here with us

Gold Rocket | Satoshi Club: Hello our guests🤗

Mary | Satoshi Club: Nice to e-meet you! Let’s start 🚀

Sapp Chat: 🆗

Mary | Satoshi Club: For the beginning we want to ask you to introduce yourself and tell us more about Sapp!

Gold Rocket | Satoshi Club: Introduce youreself😊 As far as I know our guests today

@ogtothestar @sappchat001 @osopn and @vladimir_katansky

Sapp Chat: SappChat began its journey a few years back with few team members, and today we are blessed with a strong team that brings decades of extensive experience in building successful products and solutions with immense expertise in blockchain development, software architecture, security, business, engineering, security, finance, marketing, and legal.

Gold Rocket | Satoshi Club: it sounds very promising👍

Sapp Chat: Kindly check SappChat team’s profile and their corresponding Linkedin here: https://sappchat.com/team/   

Also you can check our strategic partners here: https://sappchat.com/token-sale/  (scroll to second to last section of the page)

Follow us on social platforms (E.g. Telegram https://t.me/sappchatchannel , twitter: https://twitter.com/SappChatApp  etc.) for more of our strategic partner announcements!

Mary | Satoshi Club: What is a main idea behind Sapp? How long did you develop Sapp?

Gold Rocket | Satoshi Club: Thanks for sharing👍

Sapp Chat: Do you mean SappChat

Mary | Satoshi Club: Of course 😀

Sapp Chat: Thanks for the question

We came up with the SappChat idea around 2019 as a result of a need in the market:

For instance mobile applications have become an integral part of today’s phones that contain multimedia features such as text/audio/video chats, group chats, message notifications, status updates, and media sharing.

Gold Rocket | Satoshi Club: Yes! it is very relevant😌

Mary | Satoshi Club: A lot of features! Very interesting!

Sapp Chat: The use of mobile applications exceeds the use of social networking websites, with the most prominent applications being WhatsApp (with over a billion users), WeChat (with more than 900 million Chinese users), same goes to Facebook, Viber etc.

Today, no Interpersonal communications and financial operations are private and safe anymore. More so, mobile payments, money transfers, and shopping are not excluded from these types of privacy violations in most countries worldwide.

For detailed reasons, please check our “ABOUT” Page: https://sappchat.com/about/ and Whitepaper: https://sappchat.com/docs/

Mary | Satoshi Club: Sure! We will definitely check this!🚀

Thank you for your intro😀 are you ready to dive deeper into the details with the questions from our community?

Sapp Chat: Still answering the above question in detail.

Mary | Satoshi Club: Sure 😃

Sapp Chat: Sappchat is a game-changer in the use of mobile messaging. In Sappchat, we aspire to return to each individual worldwide the control over personal safety and privacy and, most importantly, the control over their life.

SappChat is the world’s first Decentralized Messaging App with integrated Decentralized Banking powered by Blockchain and Artificial Intelligence Technology.

Mary | Satoshi Club: Why you need blockchain for Sappchat?😃

Sapp Chat: Sappchat fully implements Blockchain technology and its bullet-proof encryption to ensure the complete privacy of users.

🆗

Gold Rocket | Satoshi Club: Thank you very much for your answers! ready to move on to questions from the community? 🙂

Sapp Chat: Yes please.

Q1 from Telegram user @h1drX

One of the unique and innovative features introduced in Sappchat is the integration of Artificial Intelligence (AI) technologies in the application. Many platforms use artificial intelligence for multiple algorithms that determine certain things, so I am interested in knowing what artificial intelligence is for in Sappchat. What are the applications that you give to artificial intelligence in Sappchat?

Sapp Chat: The Artificial Intelligence feature  provides new services within SAPPCHAT Messaging App for better user experience. This helps for a high level of  optimization, to better utilize blockchain and to provide adequate service quality that would support high capacities on both the communications and financial transactions happening on SappChat App.

For example, with this unique feature, users can better understand who they are chatting with, which will invariably improve their chatting experience. It learns from the user pre-typed responses or messages, and helps make smart responses when the need arises.

Sappchat’s AI would also allow users to use their voice to take action, search for exchange and protocol partners, surf contacts and manage the user’s wallet seamlessly without touching the device.

Gold Rocket | Satoshi Club: What interesting tools and features!

Sapp Chat: Lastly,Sappchat’s AI embedded technologies would provide users with financial predictive analytics and insights on cryptocurrency trades. i.e. the technology will track the values of cryptocurrencies and their trade and will offer Sappchat users recommendations based on financial predictive analytics, including exchange rate forecasts and expected completion of transactions.

Mary | Satoshi Club: Pre-typed responses? It will be like T9?

Where you will get this analytics? Will third parts be involved?

Sapp Chat:  Not much involvement, as we would use few existing API to make this possible.

Q2 from Telegram user @xperia3

People care about their privacy and data. The latest incident with Whatsapp proved this. Many Whatsapp user abandoned Whatsapp due to privacy issues and moved to other apps which provide better privacy. Please give some information about the privacy level of Sappchat. How private will be the users chat and data? Do Sappchat use the data from its users? How decentralized is Sappchat and how much do Sappchat team determined to stay decentralized?

Sapp Chat: SappChat is a fully decentralised platform with the help of end-2-end encryption where nobody except the interlocutor  can decipher the chat messages.

We use top-notch end-2-end encryption technology and the release version of the application will contain it in a full-form. That means, we don’t have any way to decipher the information from chats, only participants can read their chat. Fully anonymous and impossible to penetrate.

On top of that, our data is distributed through secured channels(https) following best practices and the storage protected by being hosted on the private cloud network. Internal communication on the server also happens over the private (VPN) networks only. The system supports more security standards and compliance certifications than any other solution on the market, including PCI-DSS, HIPAA/HITECH, FedRAMP, GDPR, FIPS 140-2, and NIST 800-171.

While we can’t reveal all the details by the matter of the subject itself, you can be assured that data privacy & security is SappChat’s top priority.

Mary | Satoshi Club: Everything looks secure ☺️ btw, about additional security? Did you have any audits?

Sapp Chat: We have been audited by two reputable Auditing firms (CertiK and QuillAudits). The reason for making two audits is based on the fact that we take security and privacy very seriously.

You can find the two Auditing Reports here: https://sappchat.com/docs/  (download and read).

Mary | Satoshi Club: 👏👏👏 awesome!

Gold Rocket | Satoshi Club: safety first👍

Thank you for your answers! Ready for the next question?

Gold Rocket | Satoshi Club: Thanks for sharing

Sapp Chat: 👍🏽

Q3 from Telegram user @luk4jah

In the social media category,there are specific apps that are more popular in the non-English speaking countries.For e.g in China Wechat,Sina Weibo and Renren are popular there,while South Korea has KakaoTalk etc. Because of the increasing importance of mobile apps, does Sappchat have any plan to localized their app to fit the needs of people who speak other languages?If you have plans to localize your app,which top languages will start with aside English?

Sapp Chat: Spanish and Korean first.

Our website (https://sappchat.com/ ) is fully translated in Korean and Chinese language. It will be followed by Spanish, German, and more other localized languages in the future.

Gold Rocket | Satoshi Club: Do you have any ambassador programs?

Mary | Satoshi Club:As i know some social platforms prohibited in China😀 what will you do to prevent this from happening with SappChat?

Sapp Chat: Yes, we are currently working on the ambassadorial program. It is in the pipeline. Stay tuned for the announcement.

We have a dedicated legal department that is proactively working to mitigate such situations.

Q4 from Telegram user @Asela1112

Talking on Sappchat tokenomics, as a BEP20 token, only 40% $APP from the total supply is to be distributed among the community members during token sale. What will you expect to do with funds coming from $APP token sale? Other 60% $APP tokens are allocated as 20%- Marketing, 20%- staking liquidity, 10%- team & advisors, 5%- future development, 4.9%- community airdrop & lastly 0.1%- early backers. What is the purpose of this $APP token allocating method? I couldn’t discover any of burning mechanism & transaction fee of Sappchat tokenomics. How do you mitigate the price volatility & inflation rate of $APP without any burning protocal? Do you think, the price of $APP will be stabilized even in dump situation of the crypto market without burning protocals? Can you tell us what’s the transaction fee of $APP token? For what will transaction fee be used in Sappchat ecosystem? Or will you not incur any transaction fee in Sappchat ecosystem?

Sapp Chat: What we will do with the funds coming from token sale has been fully explained in our tokenomcs: https://sappchat.com/tokenomics/  under Fund Utilization. The purpose of the token allocating method is for proper organization, planning and to support our roadmap: https://sappchat.com/roadmap/  . We Actually have a burning mechanism in place. For example we have planned 10% of raised funds to be used for buyback and incrementally burn APP token after presale, which will help the price of sappchat to stabilize. This mechanism will also help the total supply to be reduced which would bring about appreciation in the token price.

Sapp Chat: ✅

Gold Rocket | Satoshi Club: where can we buy $APP

Sapp Chat: 📌 PHASE 5  IS NOW LIVE & ONGOING AT PRICE  $0.012 / 1 APP 🔥

✅ Listing  price will be about $0.1 🚀

You can participate here 👇👇

Token Sale

🖇 STEP BY STEP HOW TO JOIN: There are two sections in medium post to buy;

A . BUY WITH COMPUTER SECTION

B. BUY WITH MOBILE PHONE USING TRUSTWALLET

https://sappchatapp.medium.com/how-to-participate-in-the-app-token-pre-sale-96093e239fa8

Test SappChat MVP https://docs.google.com/forms/d/e/1FAIpQLScDgKQh6yZJF47-A9kYYyHCBr1shqDAkIclbB1ZYMJrfLMO4A /viewform

Contract Address: https://bscscan.com/address/0xa64ee256d51d52c31fec7eb5e372ac0c45a8a3f4

For More Info About SappChat;

Website (https://sappchat.com/ )   Twitter (https://twitter.com/SappChatApp )   Medium (https://sappchatapp.medium.com/ )   

Telegram Group

 (https://t.me/sappchat) Telegram Channel

 (https://t.me/sappchatchannel )Whitepaper/Audit report

 (https://sappchat.com/docs/ )Featured in

YahooFinance (https://finance.yahoo.com/news/sappchat-providing-safe-communications-financial-111900943.html )   NewsBTC (https://www.newsbtc.com/press-releases/sappchat-providing-safe-communications-and-financial-operations-on-the-blockchain/ )  BitcoinInsider   (https://www.bitcoininsider.org/article/112137/sappchat-providing-safe-communications-and-financial-operations-blockchain )

VESTING PERIOD: Ends in August 31st.  This is to ensure fair distribution of tokens. However, this can easily be reduced based on the progress Token Sales.

👉Earn more APP Tokens with your referral link.

Gold Rocket | Satoshi Club: Thanks for your answers😊

Q5 from Telegram user   @orlemys

SappChat offers an NFT Marketplace, but I couldn’t find much info about it. Where will you get your NFTs from? Can NFT creators use your platform as a developing tool? What are the genres of the NFTs you will offer?

Sapp Chat: Sappchain NFT marketplace is  where users can offer and purchase unique NFT artworks and stickers to enrich their communication experience. The NFTs can be browsed via the Sappchat store and purchased with one click by confirming the payment from the user’s wallet. The NFT is delivered to the user’s wallet and can be used in personal and group chats, benefitting Sappchat users with extensive options to personalize their communications with others

Mary | Satoshi Club: Which currencies we will be able to pay with? Any fiat?

Gold Rocket | Satoshi Club: How will the artists be selected? Do they need to pass KYC?

Sapp Chat: Acceptable mode of payment (Crypto) would be made available once SappChat NFT marketplace is Live.

We shall invite some artists personally based on their previous work, we are not conducting any KYC as the NFT platform is fully decentralized.

Q6 from Telegram user @KhaleesiTheCryptoLady

I saw on SappChat Telegram that using our referral link, we might earn additional $APP Tokens. Could you kindly provide additional information about this? How many referrals can we accept, and do you allow users worldwide? How will you avoid against cheaters and multiple accounts?

Sapp Chat: SappChat referral programme is introduced to allow Sappchat community members to become Sappchat’s advocates by recommending Sappchat App to their friends and family.

How many referrals can we accept: Participants can invite as many people as possible, so there is no limit to the number of people that can use a particular referral link.

Do you allow users worldwide? SappChat is a global decentralized messaging application. All users can share their referral link with friends, family and any groups they  belong to and enjoy a 10% bonus on every transaction made by each of your referrals.

Sapp Chat: ✅

Mary | Satoshi Club: Fantastic! You community has a lot of opportunities to earn😀

Thank you for your answers! And now the most exciting part of our AMA is near! Live part! Ready for it?🔥

Sapp Chat: Yes

Part 2 — live questions from the Telegram community

Q1 from telegram username @oichingla

Telegram is better than whatsapp, do you think Sappchat can be better than Telegram ?

Sapp Chat:

🌎 SappChat, connecting people around the world personally, financially, privately and securely.

For More Information About SappChat:

🔸Website: https://sappchat.com/

🔸SappChat Team: https://sappchat.com/team/

🔸Medium: https://sappchatapp.medium.com/

🔸Twitter: https://twitter.com/SappChatApp

🔸Telegram Main Group: https://t.me/sappchat

🔸Sappchat Roadmap: https://sappchat.com/roadmap/

🔸SappChat Tokenomics: https://sappchat.com/tokenomics/

🔸Telegram Dutch Group:https://t.me/sappchatdutchcommunity

🔸SappChat Token Sale page: https://sappchat.com/token-sale/

🔸Telegram Announcement Channel: https://t.me/sappchatchannel

🔸Whitepaper/Lightpaper/Audit Report: https://sappchat.com/docs/

🔸YouTube: https://www.youtube.com/channel/UClmwJ994EOksOscijyjnScg/featured

🔸Smart Contract Address: https://bscscan.com/address/0xa64ee256d51d52c31fec7eb5e372ac0c45a8a3f4

Q2 from telegram username @Rakshitx5

Hi @sappchat001👋

Sappchat is a perfect app for those who are in crypto but there are not many features for those who are not in Crypto. So your main focus is on the crypto audience only or you are focusing on bringing the non-crypto audience too?

O E: The main goal is to help global adoption of cryptocurrency, however we have features like chat, call, voice note, image sharing and gifs. We strongly believe these features are enough to attract non crypto users before they fully get into cryptocurrency.

Q3 from telegram username@AugusS7

Will this decentralized messaging application require an internet connection such as whatsapp and telegram? Or will it really work like the normal messaging used in each country?

Sapp Chat: Of course, SappChat decentralized messaging App requires internet to be fully functional.

Q4 from telegram username @BJosefina61

Are the Sappchat wallets self custody or is Sappchat responsible for the storage of the private keys? In other words, the accounts in Sappchat in that sense can be banned, and does this affect the money?

O E: Sappchat does not hold your tokens, but rather we have integrated Trustwallet into the application, hence you need Trustwallet in order to use Sappchat. Trustwallet is one of the most trusted crypto wallet and we have carefully integrated Trustwallet into the application as a non custodial wallet system.

Q5 from telegram username @JoanaZ

➡️➡️Sapp is an application focused on offer a chat features and the transaction of cryptocurrencies, so can you please tell us how much types of coins and token networks do you support ?

 O. G. Admin (Will never DM you without prior warning): We plan to expand to Binance Smart Chain and Ethereum Network in the beginning and any other network in a future as soon as Trust Wallet works with it. This will give us an opportunity to have access to all tokens circulating in such blockchain.

Q6 from telegram username @Zohaya

When will Sappchat app be available in Google Play and AppStore? Have you done testing it?

@sappchat001

Sapp Chat: 📌 OPEN TESTING OF SAPPCHAT MVP!

🔹The SappChat MVP  is currently available as Open Testing Early Access Beta on both AppStore and Google Play.

🔹We welcome our dear community to participate in this open testing by filling this form:

REWARD: $5000 worth of APP token will be shared among the 500 lucky People that will be testing.

Google form:

https://docs.google.com/forms/d/e/1FAIpQLScDgKQh6yZJF47-A9kYYyHCBr1shqDAkIclbB1ZYMJrfLMO4A/viewform

Q7 from telegram username @surendra040

@ogtothestar @sappchat001 @osopn  @vladimir_katansky

Can anyone use sapp chat freely or is there any cost or tokens needed to be hold inorder to use?

O E: Sappchat is free to use, you do not need to pay anything to use sappchat, nonetheless you would need App token in order to fully maximise the features on the Sappchat defi section.

Q8 from telegram username @arbestefy

More and more competitors are added to the market, which makes everything more exciting, risky and one should have maximum confidence and security when investing. What do you differentiate, why should the user choose this project?

Sapp Chat:

🌎 SappChat, connecting people around the world personally, financially, privately and securely.

For More Information About SappChat:

🔸Website: https://sappchat.com/

🔸SappChat Team: https://sappchat.com/team/

🔸Medium: https://sappchatapp.medium.com/

🔸Twitter: https://twitter.com/SappChatApp

🔸Telegram Main Group: https://t.me/sappchat

🔸Sappchat Roadmap: https://sappchat.com/roadmap/

🔸SappChat Tokenomics: https://sappchat.com/tokenomics/

🔸Telegram Dutch Group:https://t.me/sappchatdutchcommunity

🔸SappChat Token Sale page: https://sappchat.com/token-sale/

🔸Telegram Announcement Channel: https://t.me/sappchatchannel

🔸Whitepaper/Lightpaper/Audit Report: https://sappchat.com/docs/

🔸YouTube: https://www.youtube.com/channel/UClmwJ994EOksOscijyjnScg/featured

🔸Smart Contract Address: https://bscscan.com/address/0xa64ee256d51d52c31fec7eb5e372ac0c45a8a3f4

Q9 from telegram username @KhaleesiTheCryptoLady

🔥How do you prioritize users’ privacy and make every effort to establish a private and secure chat environment where users don’t have to worry about their data being stolen or leaked? What technique have you devised to ensure that none of these circumstances, such as data leaking or theft, occur on the Sappchat platform?

@ogtothestar @sappchat001 @osopn @vladimir_katansky

O. G. Admin (Will never DM you without prior warning):

If somehow hacker will acquire data from utmost secure private cloud server – he or she won’t be able to do much with since it’s encrypted. We have some secret sauces around that topic but can’t share much due to nature of this data. Nobody, even SappChat, will be able to decypher it. Only chat interlocutors

Q10  from telegram username @Yasmin1234

Attacks on your sensitive data are impossible. Can you please eloborate this? How can you be so sure about the security?

O. G. Admin (Will never DM you without prior warning): As mentioned before, end-to-end encryption algirthms guarantees stolen content cannot be decyphered. But before getting there, hackers has to breach #1 world cloud provider first.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/

Russian Telegram group: https://t.me/satoshi_club_ru/

Spanish Telegram group: https://t.me/satoshi_club_spanish/

Chinese Telegram group: https://t.me/satoshi_club_cn/

Indonesian Telegram group: https://t.me/satoshi_club_indonesia/

Telegram Channel: https://t.me/satoshi_club_channel/

Twitter: https://twitter.com/realsatoshiclub/

Website: https://esatoshi.club/

Our partners:

🔸Website: https://sappchat.com/

🔸SappChat Team: https://sappchat.com/team/

🔸Medium: https://sappchatapp.medium.com/

🔸Twitter: https://twitter.com/SappChatApp 

🔸Telegram Main Group: https://t.me/sappchat