Month: July 2021

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 GoMeat and our guests were @Waqas_Siddiqi and @syed_hamed_ullah_quadri. The AMA took place on the 3rd of 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&WebSite

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

Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with GoMeat. Today our guests are @Waqas_Siddiqi @syed_hamed_ullah_quadri!

Mary | Satoshi Club: Welcome here @Waqas_Siddiqi @syed_hamed_ullah_quadri!

Waqas Siddiqi: Hello everyone! It’s our pleasure to present GoMeat today!

Mary | Satoshi Club: We are happy to have you here🤗
Let’s start our AMA 🚀

Waqas Siddiqi: Sure!!

Gold Rocket | Satoshi Club: Introduce yourself please. How did you get to be involved in crypto & GoMeat?
Tell us please about your position in GoMeat?

Mary | Satoshi Club: And, of course, tell us more about Go Meat 😀

Waqas Siddiqi: My name is Waqas Siddiqi and I am the co-founder of GoMeat! I have 20+ years of experience of setting up and managing consulting practices and successfully delivering large scale tech project for some of the largest companies in the world – I started my career from South East Asia and after working in Middle East and Europe for few years, I am finally based in New Jersey in USA since last 6 years.

Since I ve been working in Tech space for a long time so I was truly fascinated with the concept of blockchains. GoMeat idea came in 2018 when we wrote our first white paper but we didn’t launched an ICO at that time as we wanted to prove the concept and business model first.

GoMeat is first of its kind business venture catering to $1.7 trillion global (halal+ Kosher) market, already in operations in United States with 200+ stores on-boarded on GoMeat platform with 6,000+ orders processed, generating a gross volume of $300K in 2020 – we have already proved the concept and have a valid business case for expansion globally.

Gold Rocket | Satoshi Club: Great background! thanks for sharing👏
You are doing a very necessary business!

Mary | Satoshi Club: Wow! Awesome concept 😁 So, it’s already working business! Could you tell how many team members do you currently have?

Waqas Siddiqi: We have an awesome team who are highly organized and passionate for the success of GoMeat – so far we are 15 team members excluding 5 co-founders who are organized in diff dept and geographically spread around the globe supporting GoMeat operations.

Gold Rocket | Satoshi Club: What event influenced the project the most?

Mary | Satoshi Club: Nice team!👏

Gold Rocket | Satoshi Club: Your business is international. I love how elegantly you do mass adoption of crypto! 😊
Thanks for the introduction, we will have a question selected for the Part 1, ready to start? 🚀

Waqas Siddiqi: I would say that the origin of GoMeat itself was a compelling event as it was based on a genuine problem existing in the market and there were no other trying to solve the problem and myself as a speciality meat consumer when did some research on market – it compelled to get it started and solve the problem for the community and then Covid had a huge impact on our business as we suddenly became very relevant in the “new normal”.
Yes! Sure.

Q1 from Telegram user @Manugotsuka:

⭐️ Reading your website is realized that your ICO was programed to the June 24th, but you didn’t do it, can you explain why? Also when is going to be your first official ICO?

Waqas Siddiqi: We are moving as per the plan – June 24th we started with the Pre-ICO event which will run until end of Aug – our plan is to launch our official ICO in September.

Mary | Satoshi Club: Can you tell us more about Pre-ICO event?

Waqas Siddiqi: As mentioned we are currently running a pre-ICO event offering 500k GOMT tokens with 20% bonus priced at $2.5/token. This would continue Burke end of Aug – we are offering 5% bonus on referrals (3% for referrer and 2% for referee). Our token is deflationary and we also have a burn mechanism as defined in detail in our white paper.

Mary | Satoshi Club: Do you already know on which platform your ICO will take place?
Everyone can participate?😁

Waqas Siddiqi: Yes! Everyone can participate! Let me send an executive summary for specific details.

Gold Rocket | Satoshi Club: Do your users need to pass KYC?

Mary | Satoshi Club: Sure!

Waqas Siddiqi:

Yes!! We are very respectful of all regulations and compliances specially because we already have operations in USA – there is a KYC process and we encourage all to initiate that process.

Mary | Satoshi Club: Thank you for sharing!

Gold Rocket | Satoshi Club: Thanks for your great answers.
Ready to proceed to the next question?

Mary | Satoshi Club: Ready to proceed?🎉

Waqas Siddiqi: Yes!

Q2 from Telegram user @Asela1112:

According to your Whitepaper, GoMeat business model developed on Hydra Blockchain system. Why do you build GoMeat Platform on Hydra blockchain network while more effective & reliable blockchains are available in crypto space nowadays such as binance smart chain? Did you audit your smart contract?How Does Hydra Chain helps to solve GoMeat problems?

Waqas Siddiqi: That’s a great question – let me answer Hydra and how it is aligned with GoMeat first.

Mary | Satoshi Club: Take your time 🙂

Waqas Siddiqi: Our primary Blockchain use case is to make the speciality meat industry transparent and traceable. We want to build upon the infrastructure which facilitates stores and the certification boards and so needed a chain that is closest to our model. Hydra stands out as our clear choice due to following key reasons:

1) Hydra provides a low and predictable transaction fee. Hydra Chain provides gas price predictability through a node governed mechanism and its binding to a fiat value.

2) Hydra is highly scalable and also offering UTXO accounting model that allows a single wallet to have multiple addresses and a user can send out hundreds of transactions from same wallet simultaneously.

3) Hydra offers gas royalty for businesses, an incentive for smart contract creators which is not available on traditional chains – while we grow our business on the chain, we will be rewarded based on our transactional economy.

4) And the key reason is that GoMeat is one of the early projects on Hydra chain and we are getting phenomenally strong advisory support not only from Hydra but also from the growing Hydra community.

We believe that we are align with their vision and our interests and benefits are mutual with a great support from the Hydra team and so we ended up deciding to build up our use case on Hydra.

Also our smart contract audit is almost completed and it will be made available by early next week!

Mary | Satoshi Club: I see a lot of preferences for Go Meat from using Hydra👍 but do you know, that we are living in cross-chain time now😂 didn’t you think that you can add more blockchains support in the future?

Waqas Siddiqi: The best thing about blockchains in current era is that we are still in evolution phase. There is absolutely a possibility to cater cross-chains as we grow further and as it supports our business case as business case will always be the primary driver for all such decisions – we are already in close conversations with our Advisors on this front exploring our roadmap on this end 🙂

Gold Rocket | Satoshi Club: Indeed.

Mary | Satoshi Club: Super! You’re right 😀

Gold Rocket | Satoshi Club: By the way, please share your roadmap.

Waqas Siddiqi: So as you know that we are in operations since 2019 and have gone through considerable learnings on every front of the business that has gone into the roadmap development – although a very detailed roadmap is defined in section 10 of our white paper but just in short: we started with one store in New Jersey USA in 2019 and now we have about 200+ stores across multiple states in US – there are about 10000+ stores in US only with about $32 billion market size only in US.

So our focus is to expand in US first being one of the most mature markets in the world – as we grow in US, we will expand in parallel in Europe as we are already getting a lot of interest from UK as such a service is really needed there as well – I would highly encourage to review our roadmap in our white paper and join our Telegram group for any questions 🙂

Mary | Satoshi Club: Sure! Thank you for your detailed answer!
Ready to go to the next question?🚀

Gold Rocket | Satoshi Club: Can we proceed. Or you want to add something?

Waqas Siddiqi: Let me share some links here first for easy access for interested community members 🙂
Telegram: https://t.me/GoMeatToken
❓ Our Website: https://gomeat.io
📑 Whitepaper: bit.ly/35zZKjl
🛍 To buy GOMT: gomeat.io/icopanel/login
👉 Follow us on Twitter: https://twitter.com/GoMeatToken

Mary | Satoshi Club: Of course 👏👏👏

Waqas Siddiqi: Thanks! Let’s move on to next question 🙂

Q3 from Telegram user @NSZR1:

GoMeat will validate the products that it will offer through Certification, taking into account that there are several Certification Boards and Agencies across the USA and in each country globally, each with different quality standards, I would like to know how you plan to maintain control of standard quality of meat, if in each part of the world the characteristics that it must have to be considered of quality, tend to be different?

Waqas Siddiqi: Wow! Great question and I am glad we discuss it! So let’s keep in mind that GoMeat is NOT a meat seller – we are neither a certification authority or a religious body – we are a technology company providing a marketplace / platform where a consumer will have access to the meat stores of his choice, where the consumer can have the transparency of which certification board the store is certified from and where the consumer can have the traceability of the meat from the farm / slaughter houses – and where a consumer can order online and get it delivered at the doorsteps!

We will be working very closely with our key stakeholders such as Meat Stores and Certification boards globally and are not replacing them or their expertise but brining them on our platform for their benefits as well as it has a lot of value proposition for them too as defined in our white paper 🙂
Ultimately the choice will be with our customers and their feedback is very valuable as they will always be one of the most important stakeholder of our business 🙂

Gold Rocket | Satoshi Club: Sure! this is a truly unique solution👏

Mary | Satoshi Club: Hm, ok, but you will check all sellers for compliance, right? Or how this will work?

Waqas Siddiqi: Yes! We have a reward system for stores and one of the key criteria is that for they have to keep their certification updated and stay in compliance with the relevant certification board at all times!

Mary | Satoshi Club: Got it! So everyone will be sure in quality!
Thank you for your answers! Ready to go to the next question?😉

Gold Rocket | Satoshi Club: Thank you very much for your answers!
Can we proceed. Or you want to add something?

Waqas Siddiqi: Yes!

Q4 from Telegram user @DK177:

Delivering food and groceries to the door step is great because of this prevailing situation. However, many companies across the globe offer this kind of delivery services. You have pointed out three reasons to choose Go Meat, namely, free delivery with discounts, cashbacks and the referral program. Although these facilities are benefitial for customers, most of them are common to every delivery service. Therefore, what are your plans to face this competitive situation? What makes you unique? Why should customers choose Go Meat? According to your roadmap, you are going to make Go Meat a globally established business by 2025. Great! But that will need more effort. If you are going to introduce some unique features in the future, can you please explain about them?

Waqas Siddiqi: Another great question! So we operate in niche area of specialty meat (halal and kosher) and one of the reasons we started GoMeat was that none of the food ordering and delivery services even Uber Eats or others are offering halal / Kosher meat delivery. With this $1.7 trillion market globally and $32 billion market in US only there is a huge vacuum and an opportunity for us as this segment has not yet become noticeable!

Our biggest challenge still remains the adoption and scale like how fast we can scale where we become irreplaceable and our roadmap takes that into consideration and so is our funding utilization – as mentioned in our white paper about 50% of our funds generated will go into promotions and marketing as we understand industry practices and have enormous learning experience already – with this planning and funding targets we are confident that we will be able to scale and promote and become one of the next global players.

Lastly, there is a constant review of features and we continue to enhance our tech platform and with blockchain integration we will have a clear differentiator! Just to let you know that as I write, we are running a special July 4th Independence Day promotion in the US for our customers 🙂

Gold Rocket | Satoshi Club: And who can take part in this promotion? 🙂

Mary | Satoshi Club: By how much do you plan to increase the number of users due to the introduction of the blockchain?

Waqas Siddiqi: Wherever GoMeat is currently available in USA ie 200+ stores in New Jersey, Chicago, Dallas, Houston, Austin, Philly, Atlanta, Orlando, Miami, Tampa 🙂

Gold Rocket | Satoshi Club: Are you planning to expand the markets of other countries?

Waqas Siddiqi: Blockchain is a clear differentiator providing transparency and traceability – as of now we 4500+ customers – we plan to take our consumer base from current to atleast 150,000 by 2025 – considering a market of 1.8 billion consumers world wide – it is still a conservative number 🙂 pls refer section 10 of our roadmap in white paper for more details!

Mary | Satoshi Club: I love this conservative numbers😍😂

Waqas Siddiqi: Yes! As mentioned earlier, we are already a lot of people reaching out from UK and Germany for such a service availability! However, while we are exploring and gauging interests, we are focused on our roadmap for execution.

Gold Rocket | Satoshi Club: Thanks for your answers.
Ready to proceed to the next question?

Waqas Siddiqi: Yes!

Q5 from Telegram user @Highpee:

Currently, you have 3 apps for customer, partner and drivers. But looking at your roadmap in Phase 2, you have an upcoming plan to integrate crypto wallet and Crypto payment solutions into the GoMeat platform. Does this mean that you will be creating an additional crypto wallet app for this? And for the crypto payment solution, will this only be used for transactions that happens within the GoMeat platform or you plan to diversify into payment services that can be integrated into various e-commerce or financial platforms? Will this be able to provide FIAT on ramp and will you have your own debit card which could further simplify the payment process?

Waqas Siddiqi: As of now our plan is to integrate crypto wallets to our existing apps and wallets – also it will be beyond GoMeat platform and we will integrate with payment services beyond GoMeat platform – also if you evaluate our business model closely we are a transaction based company where we earn revenue on each every every order / transaction, with complete control on the cash flows – the more volume we are able to generate the better it is. We will consider debit cards as well to simply the payment process!

Mary | Satoshi Club: So, users will be free in their choice – fiat or crypto, right?

Waqas Siddiqi: Yes! As transition to complete crypto will take some time and we have to offer this flexibility.

Mary | Satoshi Club: Cool! Thank you for your answers! And only 6th and last question left from this part! Ready for it?🔥

Waqas Siddiqi: Yes!

Q6 from Telegram user @orlemys:

Currently, you are partners with stores in 15 different US cities and you’ve been in business since 2019. However I could note you have a delivery limit of 25 miles, this makes me curious, have you expanded this limit since your launch in 2019? Do you plan on expanding this further, or is it impossible because of food freshness? Also, how do you hire delivery people, and do they receive token bonuses and benefits? How has covid affected them specifically and how have you offered your help as they are the most vulnerable to infection? If you have, what have you done specifically?

Waqas Siddiqi: Halal/ Kosher consumers are spread out and the stores are also not available everywhere in US – we have experimented with our delivery radius. 25 miles gave us the best response in terms of accessibility to store / consumer and as well as freshness – however, let’s keep in mind that 25 miles radius can be delivered in 30 min in NJ but can take more than an hour in Chicago city due to traffic. So we have to review the radius for each city / area accordingly based on these factors – some people drive 200 miles in mid-west US to get Halal meat!

For the question on drivers on-boarding pls note that we have 3 major stakeholders and a firm and different approach and plan for each of them: 1) Stores 2) customers and 3) drivers.

Mary | Satoshi Club: I hope that fast delivery thanks to you will soon be available quickly in all parts of the world!

Gold Rocket | Satoshi Club: Thank you very much for your answers! Now get ready for the most impressive part of our AMA! live questions! 🚀

Waqas Siddiqi: We have a great learning so far on identifying channels and mediums where we can get drivers on-boarded – our drivers are also key stakeholders and we take care of them not only because we can lose them to competition but as a company policy!

We will have a token reward system for our drivers too as mentioned in our white paper and during covid we made sure to provide them not only with extra allowances but provided them with masks and sanitizers and encouraged both (customers and drivers) for contact less deliveries for their safety – none of our drivers were impacted by covid!
Yes!! Let’s do it!

Mary | Satoshi Club: Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @pakna1:

Hello Sir,

What is your top 3 things for GoMeat Platform priorities in 2021? Also Can you expand our knowledge about Gomeat platform Roadmap this year and the future and any Updates on your Research and development progress? And What results Gomeat has achieved so far? How do you assure us of the benefits, safety and transparency of GoMeat? Please tell me, How much progress has been made on the Roadmap of the GoMeat Platform? And What are your upcoming plans or events?

Waqas Siddiqi: GoMeat has come a long way since 2019 – proving a concept with 200+ stores and $300k in volumes in 2020 speaks for itself with limited funding! Our top most priority is Adoption and Scale that means increase our number of stores, customers and delivery network – and so is the main reason for our ICO! We plan to expand in USA and explore in parallel few European markets as well as mentioned above.

Q2 from Telegram user @mobilejii:

✅✅ Many projects are being abandoned after few months once they get attention . So how experienced is your team and what plans do you have to work in the long run?

Waqas Siddiqi: We are in business since 2019 and are an actual revenue generating company! This shows our commitment to our venture. GoMeat founders are highly recognized and accomplished individuals and nothing is more important for us than our credibility! We can assure our best efforts, commitment and passion to take this venture to next level of success. Please review all team members profiles on LinkedIn 🙂

Q3 from Telegram user @Indomiekuy:

GoMeat claim that you have a very valid real life business case with an actual need of such services for all of your user (customer, store, community). But i just wonder, what are the real life business case looks like, maybe you can give the example about that?

Waqas Siddiqi: Some communities are very strict in ensuring if the meat is halal or kosher or not, to the extent that they don’t dine or eat in restaurants which does not offer that! They travel miles to get this kind of meat and pay extra premium as halal/ kosher meat is expensive. These are reasons driven by strict religious guidelines or just because health concerns – We are trying to solve this genuine problem and have proven the concept – the use case is to procure meat for these community members ensuring it’s halal or kosher as per their needs.

Q4 from Telegram user @BJevery632:

So you have given what utility your GOMT has and why it should be bought/held. What then would keep the supply down? Besides the initial burn? What will keep the tokens from being oversupplied?

Waqas Siddiqi: We are launching a deflationary token – our total token supply is 5 Million GOMT out of which only 2.5 million will be available for purchase in this ICO. All tokens allocated to GoMeat team are vested with a gradual release plan – All unsold tokens will be burned and then we have a constant burning mechanism linked with GoMeat revenue generation – as it is a utility token with all details defined in White paper, we are committed to put our best efforts to increase the utility and so the value of the token over the period of time. Pls review section 7 of our white paper for more details 🙂

Q5 from Telegram user @Pratze:

Do we only possible to order meat only? Have you sell other thing beside groceries and do user need to do KYC to order using your platform?

Syed hamed Quadri: Hello Robocop, please note that while our focus is on meat but customers can also order specialty groceries and food from our platform. A large number of our customers are neither Jew nor Muslim, our platform provides them with an opportunity to order from their local specialty/ethnic stores. To accomodate such customers, our platform also provides a “vegetarian” filter so they can browse the stores accordingly. A KYC is necessary to participate in our ICO.

Q6 from Telegram user @messilolz:

What are the coins supported to pay for GOMT on your platform? Does your platform support USDC and will you add other coins too?

Syed hamed Quadri: All major stable coins and crypto: ETH, BTC, LTC, HYDRA, USDC, USDT, BUSD, BNB, DAI, PAX are accepted for payment method.

Q7 from Telegram user @A_G_Balouch1269220:

How is your meat certification process executed? What makes it more efficient and accurate?

Waqas Siddiqi: The way it currently works is that all halal / Kosher meat stores have to get themselves certified with their relevant certification boards – there are multiple certification boards and the choice is driven by customers – if more customers are associated with a particular board due to their credibility, the more a store would want to register themselves with them!

The entire process is manual where a board representative reviews the store and check where they are procuring their meat from (farm/slaughterhouse) approved by the board – the challenge is that at times stores can mix all kind of meat (as non-halal / non kosher meat is not that expensive) and customer may not realize that and so results in this trust deficit – with the transparency we are bringing – it will be very transparent to all and will facilities not only the consumers but all help automate the process for certification boards, farms and stores!

Q8 from Telegram user @mucana:

GoMeat’s goal is to win the COMMUNITY. Do you believe in the power of community? And do you have local community formations? Do you have language solutions especially for customers who live in places where English is not well spoken?

Waqas Siddiqi: We strongly believe in communities and their constant betterment of the society! We are an all inclusive company and as per our data points which was very surprising for us too is that more than 50% customers are neither Muslims or Jews who are the primary consumers of halal / kosher meat – this gave us huge encouragement as we are serving cross communities and this also justify the huge market size as well! Our primary goal is to solve an every day problem of the communities and serve them better! Our current non-blockchain apps are available in multiple languages already and are available on Apple App Store and Google Play store in North American region.

Q9 from Telegram user @meinswalker:

🌈Give one reason why we choose you over your competitors as there is much competiton ?🌈

Waqas Siddiqi: We are serving a niche segment where we are the first halal /kosher meat online ordering and delivery services – we are already 200+ stores, 4.5k customers ahead than any competition which may come. It’s a huge market segment and we believe that there will be a competition soon! Therefore our biggest challenge is how fast can we scale and become irreplaceable for any large players in the market who have not yet focused on this niche! This is the primary reason of our ICO as well – Adoption and Scale to next level when we have already proven the concept and business model, based on enormous learning curve we have developed over last 3 years or so!

Q10 from Telegram user @KhaleesiTheCryptoLady:

Researching on your website, I am amazed that #GoMeat has literally an actual use case and it’s a real business, which is great! But how will #GoMeat dealt with regulatory issues or other limits when it comes to bridging the gap between cryptocurrencies and real-world business? When did you start tokenizing your business, and why did you decide to create a token out of it?

Syed hamed Quadri: Yes, GoMeat has been operational and generating revenue since 2019. We will be expanding globally starting 2022. GoMeat has a highly qualified legal team which is working closely with us to handle all regulatory issues. As per current regulations of European nation our term & conditions, term of sale and privacy policies has all the details of regulatory compliance Our whitepaper was written back in 2019 and our vision had always blockchain intgration but first we wanted to establish our business case thus after 2 years of business we this is the perfect time to expand our operations and introduce GOMT utility Token.

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/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram Community – @GoMeatToken
WebSite – gomeat.io

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from RARA, the NFT value discovery system where amazing NFTs go viral and get discovered. The AMA took place on July 2 and our guests was Raina, a global ambassador and community leader of RARA.

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

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

Andres M. | Satoshi Club:  @Raina_RARA welcome to Satoshi Club, we are glad to have you here!

Raina: Hello everyone.Excited to be here with Satoshi Club community.

Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & RARA? Tell us please about your position in RARA?

Raina: Sure.  I am Raina, a global ambassador and community leader of RARA. I’ve been in the crypto industry for many years. I used to be an angel investor and global ambassador for many projects. And then I found RARA, a great NFT value discovery platform.

In RARA project, I am responsible for the explanation and promotion of RARA to let more people know and understand the characteristics and potential of RARA.

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

Raina: RARA is the NFT value discovery system where amazing NFTs go viral and get discovered. Through the combination of gamified mystery box mechanism and expansive NFT marketplace, we usher in a brand new era for NFT fans.

Andres M. | Satoshi Club:  What is the meaning of RARA?

Raina: RARA is Latin for “rare”, a fitting moniker for a token that serves as the global gateway to discover the most creative, luxurious, and valuable NFTs, while the RARA token, which powers RARA, serves as the primary means of unlocking unique NFT creations through Mystery boxes, and the main token accepted on the largest NFT marketplaces for paying for rare artistic items via deep discounts.

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

Raina: Sure. I would like to list those features of RARA:

The first one is that RARA is the NFT + DeFi Game-changer: RARA merges DeFi with the game oriented mystery box NFTs to realize staking and yield mining.

2nd is RARA is a 100% fair launch project. There is no team reservation, no pre-mining, fair launch to everyone at the same time.

3^rd, RARA has a large number of IP resources, including games, AV stars and arts, all of which are the top IPs in various fields.

4^th, RARA has the most scientific NFT valuation system: The most advanced oracle algorithm is used to estimate the value of NFT to ensure its market value.

5^th, innovative high-yield game rules Gamified NFT mystery box, low threshold, new and diversified income.

6^th, Unique NFT social circle and social economy, IP creators, fans and liquidity providers are bundled to increase the interaction and strengthen the value consensus of NFTs.

7^th, a truly decentralized NFT trading platform with RARA DAO. The community has the most governance power, from putting NFT online to setting the rules of the mystery box game, the valuation of NFT, and the governance mechanism. RARA DAO member can get the discount of transaction fees and higher mining reward.

Q1 from Telegram User @yellowchamp

As your mission is to bring the world’s best artists, brands, and IP’s to the largest global audience of buyers. For my own opinion to achieve your mission you need a heavy marketing strategy to be able to reach the global market and audiences, so what advertising and marketing techniques you are going to engage to be able to reach audiences globally? Do you plan to integrate with some bigger platforms like in TV or YouTube to reach more audiences? To acquire best artist and brands, you really need a big fund to do it, so as a new platform in the market how will Rara provide funds to acquire some bigger artist and brands? How will your platform deal with them? Thank you.

Raina: Actually RARA has exclusive partnered with some finest IP owners, and leading entertainment & media groups which share the same strong interest in exploring the booming NFT and metaverse space. Let me show you an example, RARA recently reached a strategic partnership with VIDYX. VIDYX is a project incubated by VIDY a famous blockchain technology advertising company in Singapore.

VIDYX can be regarded as a subsidiary of Vidy which has over 150 million users and partnerships with more than 75 leading media, publishers and companies from all sorts of fields, including VOGUE, Lancôme, Binance, and subsidiaries of Singapore Press Holdings (SPH), such as AsiaOne, Esquire, Robb Report, Buro247, The Peak Magazine, CNN, CNBC, SindoNews, Okezone, Harper’s Bazaar, Women’s Weekly, L’Officiel, Mothership, AsiaOne among many others (See website www.vidy.com  for full list). Backed by its parent company Vidy, VIDYX enjoys abundant IP resources, technology development, etc.

Through the partnership, RARA can obtain a large number of IP resources, and through these IP resources, RARA can quickly obtain more user to the platform.

Andres M. | Satoshi Club: Do you have more current partnerships?

Raina: Yeah. More partnerships are on the way.

Andres M. | Satoshi Club: Congratulations, that’s the way to build a big ecosystem.

Raina: Actually our platform has not officially launched.But the launch date will be very soon.

Q2 from Telegram User @victorogb

The RARA economic model is built around three core modules which are; Mystery Box Mechanism, RARA Marketplace and RARA tokenomics. These modules play a critical role in shaping all activities carried out on RARA platform. Within these modules is the unique NFT valuation system, the RARA gamification series (mystery boxes), the RARA token utilises, buy back and burn mechanisms. With direct emphasis on the RARA buy back and burn mechanisms, how is the full inflationary feature adopted by RARA, effectively incorporated within its core economic modules, and with RARA mining pools, what are the processes and available pools?

Raina: Firstly, I would like to explain RARA economic mode.

RARA, as an NFT platform, provides IP creators with a platform to create NFT and native NFT trading assets. NFTs generated by IP creators are priced and traded through RARA token. At the same time, IP creators publish their own NFTs through social platforms to attract more users to trade their own NFTs on RARA platform. After all, some of the benefits of these NFTs in the future trading process will be fed back to IP creators. In other words, the more frequent NFT transactions generated by IP creators, the higher their returns, the more liquidity providers the market needs.

With the development of IP creators and gamified mystery boxes, more and more liquidity will be needed in RARA marketplace, and liquidity providers can also get more income. The output of new RARA tokens will stimulate new mystery box output and NFT trading, and the benefits generated by these exchanges will be fed back to each role of RARA platform. At the same time, the NFT valuation system on RARA platform will provide all users, including NFT pledgers, with a reasonable NFT secondary market transaction price for reference, so as to protect new users’ judgment standard of NFT assets.

For more info about buyback and burn, you can refer to this article: https://medium.com/@RARA_NFT/raras-economic-model-d57b21401c69?source=social.tw

Andres M. | Satoshi Club: Where we can buy RARA tokens and what are its usecases?

Raina: For now, RARA token has been launched yet. But after the platform be online, you can mine RARA token through mining on RARA platform.

Gold Rocket | Satoshi Club: What are the benefits for hodlers?

Raina: For RARA holders, voting power will be given in the platform’s DAO. And of course, the holders can also enjoy the price increasing.

Andres M. | Satoshi Club: Will be there miner pools?

Raina: Yes. Of course. For this part, we will release more info very soon. Pls pay attention on our announcement channels

Q3 from Telegram User @Jonahapagu

RARA’s DAO module which allows users to make proposals, vote, and enjoy membership benefits, is said to employ quadratic voting to prevent whale dominance and ensure an ongoing democracy among your community… so how does RARA implement quadratic voting in its DAO module, is this done in partnership with any voting platform or is this an in-house implementation, and what other significance will the implementation of Quadratic voting bring to your DAO module when compared with other models.

Raina: In fact, we have not completely determined this issue. We have been studying the logic of Quadratic Voting. The more possible direction is that we will add our new design to the original voting platform and then use it for RARA.

Andres M. | Satoshi Club: Btw, could you share us the roadmap of the project? What’s the greatest event coming for RARA?

Raina: Sure.Firstly, we will launch the mining mode of DeFi + NFT while the platform is online. RARA amalgamates DeFi with gamified Mystery Box NFT by allowing staking and yield farming. Farms and staking pools will be provided to mystery box owners to stake and earn so early participants are attracted at no cost to the platform.

And RARA will build the world’s first decentralized marketplace for Mystery Boxes, allowing for both the trading of dropped treasures and of IP NFTs inside unlocked boxes, as well as potentially the trading of unopened mystery boxes in the future.

And of course, we will release some IP NFTs, including games, AV stars and arts, all of which are the top IPs in various fields.

Q4 from Telegram User @Jmagsss

I can see that in your platform, you plan to stake NFT exchange of rewards. How would you calculate the hash power of each NFT and the amount of RARA token rewards to the NFT holders? Will it be based on rarity and quantity?

Raina: Yes. It will be based on Rarity and Quantity. There are two types of mystery boxes that exist on the RARA platform – IP Boxes and System Boxes. System Boxes is for NFT staking. Each System Box unlocks either a rare pet (Zebra, Shibu, or Possum) or a food item (Zebra Flower, Shiba Rice, Possum Fruit) to collect in bulk in order to attract a rare pet.

Once a user has a rare pet NFT in their possession, they have the option to stake their NFT and earn more RARA per block as they now get a proportional piece of the System Farm token emission. Each system box NFT has its corresponding hash power by which the System Farm would calculate the reward share. And the specific data will come out after the NFT staking goes online.

Andres M. | Satoshi Club: Do you have some designs of those NFT to share us?

Raina: This is one of our system NFT box.

Q5 from Telegram User @luk4jah

HI RARA

In the System Box Rarity System each system unlocks either a pet or food item to collect them in bulk in order to attract rare pet. Will users have to stake their NFT to unlock these boxes to earn more $RARA? What corresponding hash power does the system have? Can you please give us a sneak peak of those rare pets and tell us how this system works as regards to the rare pet and food that are used to attract those pets and what will be the percentage of a user that unlocks each system boxes.

Raina: Because RARA platform has not launched yet, and the NFT mining has not started, so I am afraid that I cannot tell you the specific peak or percentage. But the system Boxes are also a kind of mystery boxes. They are needed to buy through RARA token. And to obtain RARA token, you need stake the LP token of a pair tokens. More details will be released after RARA goes online.

Q6 from Telegram User @emidm28

A few days ago the First Class of RARA Cram School was held. How often will these classes be held? Are these classes open to all users in the community? Can we participate in as many classes as we want or are there limited seats?

Raina: In order to help the community, understand RARA more quickly, we have a RARA NFT School class in the community every Thursday. Every time the questions will be collected and selected from Twitter and community, please continue to pay attention to our Twitter announcement.

Andres M. | Satoshi Club: That’s great, and do you have the ambassadors program yet?

Raina: Here is the recap for 2nd class https://medium.com/@RARA_NFT/recap-the-2nd-class-of-rara-nft-school-846f480c0681

Wow, we just published it 2 hours ago. https://twitter.com/RARA_NFT/status/1410988604655083530

Andres M. | Satoshi Club: Great idea, knowledge is the key.

Excellent news. Satoshiclubbers let’s join, big rewards for you.

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram user @beerskit

Today I read the news about Ethereum exceeded the Bitcoin today as wallets. Is it 100% certain that you will launch RARA with BSC blockchain? Any plans for Ethereum?

Raina: Yeah. The gas fee is always a painpoint of Ethereum network. And we also considered this point, so we deployed our platform to BSC network. And here we have more space to develop our ecology.

Q2 from Telegram user @zhonmacro

Which do you think is more important:

1. Community. 2. Investors. 3. Token Price. If all of the above is important to you which should come first?

Raina: We do think that the community is the most important for us. RARA aims to make a truly decentralized NFT trading platform with RARA DAO.

The community of RARA has the most governance power, from putting NFT online to setting the rules of the mystery box game, the valuation of NFT, and the governance mechanism. RARA DAO member can get the discount of transaction fees and higher mining reward.

Q3 from Telegram user @nadee5

RARA token and vRARA token. Why are there two different tokens and what are the use cases of these tokens? What are the benefits of holding these tokens?

Raina: RARA token is the platform token. It bears three roles within the RARA platform:

Governance token: The core function of the RARA Token is to be the governance mechanism for RARA itself. The token is intended to align incentives between various stakeholders within the ecosystem to promote sustainable growth and fair governance.

Payment &Fee: RARA Token also serves as the medium for transactions. Such scenarios include using RARA as a payment method or paying fees for using RARA. Users can purchase mystery boxes using RARA token while buy and sell on RARA Marketplace and pay the transaction fee in RARA token.

Incentives: To bootstrap RARA liquidity, mystery box market and marketplace, mining pools and farm are provided to liquidity providers and mystery box owners.

And vRARA token is the one only for RARA DAO system. That means vRARA is the voting token of RARA which is non-tradable but gives a user the voting power on governance proposals. Each vRARA will count as one vote towards a proposal. It also determines one’s membership level and thus determine the benefits he/she enjoys

Q4 from Telegram user @cockroachesgaing

As you know, RARA and VIDYX are establishing a strategic partnership in which both sides will acquire their respective strengths and share resources to highlight NFT values. Now my question Is, how will this partnership benefit both platforms? And how long can this partnership last? And Can you share more information about the partnership?

Raina: Through this partnership, RARA and VIDYX will jointly develop more quality IPs and find more creators. By giving full play of the NFT platform and solution provided by RARA, the two parties will promote the prosperity of content economy and creation economy.

Q5 from Telegram user @highpee

RARA has a lot of great features but I can’t find your OFFICIAL WEBSITE. Does it mean that you don’t have a website or am I the one who is not searching rightly? Kindly help me with this and other repository that I can use to get to get enough info about what RARA has to offer.

Raina: Sorry for your inconvenience. Cuz our platform has not launched yet, so we did not show the website to people. But I think I can share a little of our web to you SatoshiClubbers, for thanking for your hospitality.

Q6 from Telegram user @obulin

Wish you a great success in your project.

Few hours before, I saw a recent announcement in RARA twitter about RARA global ambassador program – RARA guardian angels. Big rewards $10000. Who can apply for this RARA guardian and is this similar to moderating the community?

Raina: Yeah. Thanks for your attention. Our global ambassador, we named as RARA Guardian Angels, are kind of partners, not only for moderating community. They should contribute to:

• Social Media engagement
• Partner outreach
• Content Creation
• Community Engagement
• Testing RARA products
• Helping drive Governance
• Establishing and growing regional communities

On top of the experience, the angels’ reward pool totals up to $10000 per month (pay by $RARA) and will increase accordingly to RARA community’s participation and contribution.

Who can be a RARA Guardian Angel?

Anyone! We encourage everyone with a passion for NFT looking to foray into crypto space and supporters of RARA to apply. We are looking for:

NFT enthusiasts who want to explore the space working closely with the RARA team; Active members of the RARA community; Contributors with a creative touch be it content creation, memes, gifs, infographics, charts and more.

Q7 from Telegram user @Indomiekuy

I learn from your site that RARA tokens will be initiated through mining on RARA platform also RARA has no max cap and operates on a fully inflationary and burning model.  How will be the burning system work for RARA token?

Raina: So many friends are interested in the burning & buyback mechanism of RARA. Good. Let me introduce it to you.

RARA operates on a fully inflationary and burning model. In Secondary NFT Markets, RARA receives revenue (5% trading fees) for Non-RARA Sales (5% trading fees). 70% of these revenue will be used for Buybacks of RARA and then Burn.

In Mystery Box section, RARA receives revenue (5% trading fees) for each IP mystery Box that is purchased by users on the site. 50% of these revenue will be used for Buybacks of RARA and then Burn. In Mystery Box section, 30% of the total revenue of System Mystery Box for Buybacks of RARA and then Burn.

In Mining Pool section, 5% of the Yield on Mining Pools is for Buybacks of RARA and then Burn. 100% withdraw fees in the pool (withdraw in 72 hours) for Buybacks of RARA and then Burn.

Q8 from Telegram user @cryptonation2

How do you plan to raise awareness of RARA platform in global level? If you have any ambassador programme available do you accept from all regions and how may I apply for it?

Raina: In fact, our platform has attracted the attention of many influential people. Recently there is a big influencer helping to promote our project. And the number of these people is gradually increasing. I believe that with the launch of RARA platform, more people will pay attention to RARA. Of course, we have also formulated a fairly complete market plan, so there is no need to worry about this.

Q9 from Telegram user @PyaraLarka

Any $RARA earn program? If yes, then share with Satoshi Club Thank U.

Raina: Yes. Actually we are holding bounty programs every week. If you joint our community, you will know that. Pls join and follow our channels to get these programs to earn RARA. Twitter: twitter.com/RARA_NFT

Telegram Announcement: t.me/RARA_Announce. Telegram Chat: t.me/RARA_Global.     

Q10 from Telegram user @tumarjonno

Its little confusing what’s your business revenue module to run your project with zero fees on deposit, withdrawals and performance fees? will there be possibility of adding fees in the future?

Raina: To learn our revenue model, here is an info graph to help you.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about RARA. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.

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

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

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

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

Twitter: twitter.com/RARA_NFT

Telegram Announcement: t.me/RARA_Announce

Telegram Chat: t.me/RARA_Global 

PART 1. Introduction of Qredo project and community questions.

 Hello, Satoshi clubbers and guests of this site. Let’s talk today about project with Blockchain interoperability, lightning-fast settlement and secure decentralized custody.

Qredo –designed and developed by veteran cryptographers, cybersecurity leaders, blockchain technologists, high-performance app makers and capital market entrepreneurs.

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mihai Pisica – @MihaiPisica

Luis Merino 🇪🇸 | Satoshi Club – @LuisMe7

The Representative of the project:

Brian Spector – @brianspector

Sonny – @Bowtiesarecool

Josh – @JoshGoodbody

Introduction of Qredo project.

Mihai pisica:

Hello satoshiers! Sunny day outside and a wonderful time for the ama )

Luis merino 🇪🇸 | Satoshi Club:

@joshgoodbody, @Brianspector, are you there? 😉

Brian spector:

Ok sorry I’m late. Hi I’m Brian from Qredo. Sonny are you here too to hold my hand?

Luis merino 🇪🇸 | Satoshi Club:

Hello Brian! Nice to meet you. How are you today?

Brian spector:

I need a shower. 😀 Well, it’s been a busy week as you can guess. I’m pretty tired but fired up to. How are you doing?

Luis merino 🇪🇸 | Satoshi Club:

Satoshi Club will give you a shower… Of questions 😅

We are waiting for one of our mates to add your teammate Josh as an administrator 😊🙏🏻

Brian spector:

Josh needs to be unmuted I think, could you do that? And made admin.

Don’t make me admin, I hate technology.

😅 Joking of course. I love blockchain. 😅

Brian spector:

I’ve been in crypto all my life. The crypto business before there was a blockchain industry. I cut my teeth as a developer working for an enterprise encryption company. I was horrible. Just simply not a good dev.

Luis merino 🇪🇸 | Satoshi Club:

Me neither 😅

Josh:

Josh here! Hey folks 🤝

Luis merino 🇪🇸 | Satoshi Club:

Seems like josh is already an admin! Welcome josh.

Brian spector:

So, I worked my way into sales at RSA, selling the RSA algorithm to folks like Microsoft.

Luis merino 🇪🇸 | Satoshi Club:

Sorry for the delay 😅

Brian spector:

And then I’m here!!

Josh:

Let’s go 🚀

Brian spector:

Ask me anything.

Sonny | does not pm/dm first:

I was born for this!

Brian spector:

Hi josh where were you born?

Luis merino 🇪🇸 | Satoshi Club:

Another guest! Hey sonny 😊😊 3 guests, 1 moderator, this is not going to be easy 😉😂

Luis merino 🇪🇸 | Satoshi Club:

So, guys, can you please make a short intro about yourselves and about Qredo?

Brian spector:

Ok, I will continue.

Luis merino 🇪🇸 | Satoshi Club:

(Brian has ready introduced himself, but you can tell us more about you) 😄

Brian spector:

At RSA I then ran a product line called bsafe. Very geeky stuff. I went to an hsm company called ncipher and ran product there.

Then I had my own startup called Miracl. We had a low leve cryptographic library for chip manufactures to speed up their crypto processing in silicon. The bitcoin happened. And I realized, I was wasting my life. I tried to sell my company fast, so I could work in blockchain.

That’s how I met, Anthony, the CEO. He tried to buy Miracle. I totally screwed it up. But we remained friends.

Luis merino 🇪🇸 | Satoshi Club:

We all realized 😂

Josh:

I’m josh, the COO here at Qredo.

I’m a lawyer by background (booo) but have spent the last few years scaling crypto exchanges such as Huobi (as their gc and head of institutions) and more recently leading EMEA for Binance.

Brian spector:

I finally got out of Miracl in 2017 and started Qredo with the crypto jockeys that helped me build Miracl.

Josh:

So about us….

Qredo is rearchitecting digital asset ownership and blockchain connectivity.

We are radicals, taking new approach to bring liquidity and capital efficiency to the blockchain economy.

Big brain Brian has helped Qredo pioneer the first decentralized trustless multi-party computation (MPC) custodial network.

This advancement enables Qredo to offer decentralized custody, native cross-chain swaps, and cross-platform liquidity access.

Brian spector:

Now i’m here and I am so blessed to have josh, anthony and everyone else

Luis merino 🇪🇸 | Satoshi Club:

Lawyer! 👀 Great background mate.

Brian spector:

I have a lot of help. I am a cryptographer if that helps. I have 5 zero knowledge proof patents and I’m really into post quantum stuff lately. And adaptor signatures. We’re all blessed to be in blockchain are we not?

Luis merino 🇪🇸 | Satoshi Club:

That’s amazing! Miracl created a huge friendship

Brian spector:

Some of these guys I’ve been working with for 10 years. It is like we have the same mind. Which is not great if you have stomach upset but other than that its awesome.

Luis merino 🇪🇸 | Satoshi Club:

Thank you for that short intro about Qredo 😀

Brian spector:

Zshan wants to get unmuted. Yes, that chap lovely guy, I’ve known for 30 seconds.

Josh:

All in good time!

Luis merino 🇪🇸 | Satoshi Club:

😂😂😂😂😂😂

Brian spector:

Oh, Miracl was an acronym for Multi-precision integer rational cryptographic library. Do a few shots of tequila and say that fast five times. Impossible.

Luis merino 🇪🇸 | Satoshi Club:

Without doing the shots… Impossible too 😂😂

Brian spector:

Yes. Worst name ever.

Luis merino 🇪🇸 | Satoshi Club:

So, I guess that community is waiting for the questions. Are you ready to start with them? 😉

Brian spector:

Will you hold my hand?

Josh:

Hell, yes 💥

Brian spector:

Thanks dad.

Preselected questions about the Qredo DeFi project.

Luis merino 🇪🇸 | Satoshi Club:

Q1 from telegram user @dk177

You have mentioned that there is no need for private keys when we use the Qredo wallet. It will be convenient. However, there is a saying, “not your keys; not your coins”. When multiparty computation nodes generate private keys, don’t we have the risk of accessing our private keys by a third party? What kind of mechanism do you use to prevent this threat? Generally, it is our fault if we loose our private key. When using Qredo wallet, do you take that responsibility? If a private key becomes compromised due to a fault in MPC nodes, do you cover that loss? Are there any insurance providers with you to provide financial support in that kind of situation?

Easy one to start with 😉

Josh:

Woooah, good question.  @Brianspector you got this 👆

Brian spector:

I got this. Ok, MPC does not ever store a private key, that’s the thing people don’t understand right away. The reason MPC is such a breakthrough is because, for the first time ever, there is another way, completely different, to generate a signature on a transaction, or generate a public key that will verify that signature. Prior to MPC the only way to do this was to create a private key. Now there is a different way. Decentralized computers do a network protocol, throw some big primes at each other, and if they all are given the same thing to sign, they will all output the same signature. No private key ever exists. Crazy, but it’s true.

The risk is that all of those nodes engaging in the MPC protocol, if they got hacked, they could potentially move the money out of your wallet. But we also run those nodes in secure enclaves. So, the whole vm is encrypted, including the memory, with a key that is inside a secure element. If a hacker tried to get the secure element open, which they can only do if they have physical access, the key blows up, like mission impossible. That’s what we have built.

Yea man, it’s high tech.

Luis merino 🇪🇸 | Satoshi Club:

No private key 🤯 Mind-blowing

Brian spector:

Hope that answered your question.

Luis merino 🇪🇸 | Satoshi Club:

So, it’s impossible to access users funds?

Brian spector:

Oh yea, I forgot. I created the meaning behind Qredo.

Luis merino 🇪🇸 | Satoshi Club:

I’m not a dev and nothing similar, so I need simple explanations 😂😂

Josh:

The magic of MPC means no one, but you, has access to your funds within the Qredo network

Brian spector:

Nothing is impossible. But it’s the best security that the current state of technology can deliver. There are no known theoretical or practical attacks that exists against this architecture. That are known. Put simply, it’s a shit ton safe than trusting your funds to some centralized custodian. Why?

Luis merino 🇪🇸 | Satoshi Club:

Got it

Brian spector:

Because a centralized custodian, even if they are using MPC, has all your ownership information in a database. Guess what? I don’t need to hack their MPC network, I can just hack their database. It’s total snake oil. I hate it when vendors do this.

https://www.Qredo.com/blog/Qredos-consensus-driven-MPC

Luis merino 🇪🇸 | Satoshi Club:

Nothing is impossible. Let’s say, almost impossible. Impossible with our current knowledges about technology? 🤔😂

Brian spector:

Some good articles.

Luis merino 🇪🇸 | Satoshi Club:

Satoshi Club… Go and check this article.

Brian spector:

It’s the best security you can get, bar none. I can’t say it’s impossible because there might be zero days that I don’t know about. But those are very very remote odds.

Josh:

This is why our slogan is “the network is the vault”

Brian spector:

Hell yea. It’s an obvious idea actually I don’t know why no one did this before.

I think maybe it’s the combo of things we put together. It’s an MPC network that uses a blockchain as its oracle. To me that was obvious. But it had not been done before. The other thing is a layer 3 coms channel over a layer 2. Obvious to me, but hey, i’m weird.

Luis merino 🇪🇸 | Satoshi Club:

If anyone did this before, probably you wouldn’t attend to this ama, so let’s thank god 😂👏 Okay… Ready for the next question? Or do you want to add anything else?

Josh:

Keep ‘em coming!

Luis merino 🇪🇸 | Satoshi Club:

Let’s goo! 🚀

Q2 from telegram user @jonahapagu

It is stated that in Qredo v1, all MPC nodes are controlled by the Qredo team, and that this control will be gradually relinquished to the community in a secure step-by-step process. With work on v2 already in progress, how do you intend to transfer total control of all nodes to the community, what will be the procedures and processes, what will be the requirements for community members who intend to own nodes in Qredo, and when do you intend to begin this transfer of nodes.

Brian spector:

Oh man, that’s a lot. So, we intend to get test net rolling at the end of the year. Note: Qredo is still going to run some nodes, but not all of them! We’re coding up the v2 protocol right now. But it’s got some groundbreaking things in it around economic security which I can’t talk about yet or marketing dept will shank me.

Josh:

In the second half of 2021, Qredo will move

Into a federated model, under its version 2 protocol testnet, where a curated set of third-party validators will start operating validator nodes.

On completion of this phase in early 2022, the number of third-party validators will increase towards a fully decentralized model, assuming all

Operational tests and security review findings are low to informational.

Brian spector:

Once our economic security paper comes out, which I’m like 3 months late on, probably won’t get my bonus, anyway, you guys don’t care about that, what I meant to say is that is all covered in the economic security white paper I am still drafting and now needs to be surgically removed.

Luis merino 🇪🇸 | Satoshi Club:

Looking forward to those news 😏

Brian spector:

A lot of the capability is covered in out white paper though.

Luis merino 🇪🇸 | Satoshi Club:

That’s huge, josh:! 👏💪

Josh:

Yeah, a big milestone for us! We see decentralization as the highest bar of security that can be achieved.

So, in recap, the requirements for validators will be made public soon!

Luis merino 🇪🇸 | Satoshi Club:

We have another question somehow related to this one… So let’s jump into the next one so that we don’t cover it, okay? 😀

Josh:

Sure!  The big brains are in the house today!

Luis merino 🇪🇸 | Satoshi Club:

Protection… That message wasn’t offensive 😭😂

Q3 from telegram user @xperia3

As I read in your medium article, there are 7 lines of defense for the security of Qredo. However, I recognized in the 4th line “global node distribution”, Qredo nodes are distributed among 6 different cities (New York, Chicago, London, Hong Kong, Singapore, and Tokyo) around the world. What was the reason of choosing specifically these cities? Do you plan to extend this number in the future or is this secure enough?

Josh:

This is our current decentralized footprint. But – the decentralization never stops!

As you might know, these locations are centers for world class technology infrastructure, such as data centers, so tapping into this is a natural fit for us

Brian spector:

Ok peeps, come on. I’ve got 15 minutes left. Let’s get freaky.

Luis merino 🇪🇸 | Satoshi Club:

Easy question, huh? 😉 Do you want to add something? Or shall we proceed? 😄

Josh:

We are good! Let’s keep them rolling

Brian spector:

This is a great question. I’ve had a few, ugh…erm, run ins, with certain government agencies before, that I really can’t talk about, or I really will be shanked in some dark alley. Suffice to say that I’m paranoid about government coming into one of those data centers and seizing our kit. So, when you run an MPC protocol, you usually have a side and a b side. Easy enough, right? Well, when being geographically sensitive, what you don’t want to do is put a side and a b side in the same country, because then they got you. Suffice to say we did not do that. Because we’re paranoid. Very paranoid.

Josh:

We can probably manage a few questions at a time (we talented)

Luis merino 🇪🇸 | Satoshi Club:

Really? Let’s hurry then, so that you can finish, at least, part 1 😄 Master! 👏

Q4 from telegram user @luk4jah

We now have a situation where individual investors can freely interact with defi from retail wallets, while institutions operating under a larger set of constraints are locked out. They are deprived of the ability to borrow, lend and stake in defi, and prevented from quickly executing time-sensitive trades. This forces many asset managers to adopt a passive buy and hold strategy instead of capitalizing on volatility and yield-earning opportunities. Can you tell us your target customers? What type of projects and use cases are best suited to leverage Qredo infrastructure? And can you give us a typical example that can help us understand how Qredo will meet institutional standard with infrastructure.

Brian spector:

Josh you taking luk4jah? That cat gif is freaking me out but also making me really relaxed at the same time….

Luis merino 🇪🇸 | Satoshi Club:

😂😂😂😂😂

Brian spector:

Come on people, throw them at me. I like the last question. Let your freak flatg fly!

*flags fly.

Josh:

Yes!

Current infrastructure is not fit for purpose for institutions and corporates to enter the space in masse.  Qredo fixes this.

Qredo opens a pandora’s box of potential use cases to fix this.

Whether you are a prop shop, a hedge fund or a highly regulated asset manager, we got a solution for you.

We will be enabling these participants to access the defi markets in a secure and scalable way.

Another example:

Self-custody wallets + CEXes

Yes, you read right – we have built a way for you trades on a CEX out of your self-custodial wallet.

Watch this space with deribit…..!

Luis merino 🇪🇸 | Satoshi Club:

Question 5? Are you ready? 😳

Brian spector:

Bring it

Luis merino 🇪🇸 | Satoshi Club:

Q5 from telegram user @alice_wonderland12

Qredo’s public token place will start on july 1st. Regarding to that point I would like to clarify some points about purchasing $qrdo:

-where will the state take place, is it a place with enough se unity requirements?

-what would be the minimum and maximum amount to buy per buyer?

-do you have any anti whale measures?

I think that with that information clear many from the community will feel more confident to buy

For you! Brian. Enjoy it 😉

Brian spector:

Not it. Josh is taking this. I don’t like numbers.

Luis merino 🇪🇸 | Satoshi Club:

Me neither… Don’t worry 😂

Josh:

So, as a starting point – the Coinlist deal page answers this question: https://Coinlist.co/Qredo

On the anti-whale mechanisms – that’s why we picked Coinlist for the sale – so we can set maximum amounts to be purchased, and leverage their anti-bot tech

Brian spector:

Hit me with number 6

Luis merino 🇪🇸 | Satoshi Club:

Q6 from telegram user @nataliyakil

Qredo operates 6 validators. Typically, the validators that will deal with the processing of blocks are chosen at random. However, their selection is influenced by a number of points. In particular, this is the age of stake, the state of the node itself, the number of tokens that have been locked. How are validators selected for Qredo and what factors are taken into account? I would also like to know what programs are developed for validators and what rewards they receive? Are you planning to increase the number of validators in the future?

There you are, Brian!

Brian spector:

Got it.

Right now, since we are running all the validators, it’s a simple POA round robin for high throughput. But on version 2.0 protocol, then it morphs into a real DPOs protocol. What I will ‘leak’ about how validators are selected is that it is done in a closed unit, something we call a pod. I will have more details on this in the economic security paper which honestly will be out next week, and no marketing don’t hold me to that you know how tardy I can be. Great question please look out for my paper.

Luis merino 🇪🇸 | Satoshi Club:

Coinlist is huge 😎

Brian spector:

Are they? I thought they were a small family run business in Toledo.

Luis merino 🇪🇸 | Satoshi Club:

You have to share it with Satoshi Club as soon as it is ready 😉

Brian spector:

I definitely will Luis, you have been a gracious host and I have been obnoxious. But not more so than normal.

Josh:

Shall we open the floor up?

Luis merino 🇪🇸 | Satoshi Club:

You have been great Brian. I made a lot of fun with your jokes 😉 Please, come back soon for another ama 😉

Part 2 will be attended by josh, right?

Brian spector:

Thanks, Luis I would be honored to. I’m not being facetious.

Goodbye everyone. See ya soon.

Luis merino 🇪🇸 | Satoshi Club:

See ya! 😉

@joshgoodbody are you ready for part 2? 😎

Josh:

I’m ready

Luis merino 🇪🇸 | Satoshi Club:

So… Satoshiclubbers, prepare your best questions. I will open the chat for 2 minutes so that you can ask them

Remember the rules… Ready… Steady… Goooo!

PART 2.Questions about the Qredo 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 Qredo 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 @AugusS7

You point out on your website that since the invention of cryptography, the greatest cryptographic advance is to implement multiparty computing (MPC), but could you really tell us what it is? is it really an algorithm, a mechanism, a protocol or what? And is this used in all blockchain projects, or only a few like Qredo?

Josh:

A (Consensus-Driven) CD-MPC network is created when the MPC nodes operating the MPC protocol refer to an on-chain dataset for instructions and affirmation of the operations, just like the Broker. Meaning, they use a blockchain to verify state and organize themselves into action if required. They inherit the current state of the blockchain and thereby the verification of transactions that the Validators have performed (trust) but they also engage in their own verification (but, verify) of the transactions in the blockchain that are compelling them to create a digital signature. Trust, but verify. Qredo’s CD-MPC network has other defense mechanisms built into its operations such as network obfuscation, node segregation and cryptographic organization, and MPC secrets security using threshold decryption, confidential computing and distributed key generation.

Q – 2 from a telegram user @nosto1

The community is integral to any blockchain startup. How are you planning to involve the community in Qredo? And Qredo what Planning to launch any ambassador program for making DAPPS on your platform? would you please tell me, How what will be roles of this ambassadors? 

Josh:

Totally agree – community is everything. We will be doing a few things:

– Listing on exchanges and running events
– Running community incentive programmes to encourage people to build on Qredo
– Setting up local community managers in as many places as possible.

Q – 3 from a telegram user @Wong2008

Can you tell us about Qredo TESTNET results?

Josh:

BIG SUCCESS

So much so that we are in V.1 Mainnet💥

Q – 4 from a telegram user @Tahsinahmett

Do you have insurance agreements for Qredochain Vault and Qredo wallet assets? Are you considering doing it?

Josh:

Yes!

We want to blend the best of TradFi with DeFi.

Qredo has been insurance against malicious intent and theft from Lloyds of London, underwritten by Sompo.

Next year we plan to offer a bespoke in-platform insurance product.

Read more about our Seven Lines of defence here:
https://www.qredo.com/blog/key-fu-crypto-self-defense

Q – 5 from a telegram user @minalkaki

How can I know more about your project, do you have any website or YouTube channel you can share with me?

Sonny | Does Not PM/DM First:

We have a media section on our website. It’s a treasure trove of videos and guides about the product, ecosystem, and development: https://www.qredo.com/media-center

Q – 6 from a telegram user @Arisabela

I was researching about the Qredo Partner API which allows authorized partners to create applications with the Qredo protocol, I’m not a programmer, maybe most of us aren’t but can you tell us for what type of applications is useful your protocol? Do you have some examples of the potential partnerships that can use the Partner API feature?

Josh:

Absolutely – we are open source and open platform. Anyone can build on Qredo today!

So we have a bunch of examples of Apps being built on top of the Qredo Network today, including:
Deribit integrating Qredo’s Self-custodial wallets into their exchange
A Travel Rule compliance solution piloted by Genesis Trading
Trade Chat App which allows traders to instantly execute trades from their Telegram chats within the Qredo Network

We have so much planned! A window into this:

Q – 7 from a telegram user @Rosane1a88

How has Qredo designed a decentralized custody system, since the word custody in essence makes reference to a third party? I would like to know, how have you achieved a secure and trustable custodial algorithm that doesn’t involve trusting a third party?

Josh:

Shares of the cryptographic key are contained in the MPC nodes, which are distributed on the network. Together, the nodes generate a digital signature to sign transactions without ever producing a private key.

The MPC nodes are distributed between security-hardened tier 4 data centers distributed across global financial hubs, and controlled by the Qredochain.

The Qredochain is a Layer 2 network that provides an immutable registry of assets and activity. Each custodial operation — each transaction, each signature, and each change to wallet custodial policies — is mined into the blockchain. In this way, the network becomes the vault.

Q – 8 from a telegram user @Xusuo

Can you tell us what are the specialty function that Qredo have that other competitor dont have? why user should choose QRedo project?

Sonny | Does Not PM/DM First:

Qredo uniquely sits at the intersection of cross-chain liquidity, settlement, and decentralised self-custody. Blockchain technology has been amazing, however, companies like Pepsi would use it because anybody can view their transaction details to be able to figure out company health and operation – and undue advantage for competitor. With Qredo, businesses can replicate this entire financial governance structure that will only be available to those within the organisation while also making it possible for them to provide auditable proof for regulatory bodies.

Q – 9 from a telegram user @Asela1112

Qredo as a global platform, don’t you need ambassadors country wise? How do we participate if an Ambassador programme will launch by Qredo in future?

Sonny | Does Not PM/DM First:

Excellent question. We have an ongoing ambassador program open for anybody to join. Have a look at it here: https://www.qredo.com/new-blog/are-you-a-qredonian

 

Q -10 from a telegram user @valobashitumai

When I researched the Qredo Partner API I noticed that it allows authorized partners to create applications with protocols. Now, What kind of applications can you tell us that you are using your protocol? And you have some examples of possible partnerships that can use the partner API feature?

Sonny | Does Not PM/DM First:

HedgeGaurd built a Portfolio Management System using Qredo as a way to on scale create self-custody wallets for customers with ability to conduct instant low fee transfers across wallets which saves on internal reconncilliation
– Big part of Qredo is supporting developers build apps on teh network and take advantage of the crypto operations features – scale, security, interoperability, rewards and bring your own custidy controls.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Qredo 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: Qredo

Telegram group  | GitHub |  Tweeter  |  Website  | Medium | LinkedInn

We are pleased to announce our next AMA on July 9th 2021 at 01:00 PM UTC Time: Satoshi Club x BulleX

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

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

Part 3: 300$ – A quiz about BulleX

For more details:
BulleX Website – bullextoken.com
BulleX Telegram – @BulleXToken
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on July 5th 2021 at 11:00 AM UTC Time: Satoshi Club x Sapp

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

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

Part 3: 300$ – A quiz about Sapp

For more details:
Sapp Website – sappchat.com
Sapp Telegram – @sappchat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on July 5th 2021 at 11:00 AM 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 3rd 2021 at 01:00 PM UTC Time: Satoshi Club x GoMeat

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

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

Part 3: 300$ – A quiz about GoMeat

For more details:
GoMeat Website – gomeat.io
GoMeat Telegram – @GoMeatToken
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 Anypad and our guests was @divyarsh, @DecryptoPal, @Cryptofuel11, and @i_am_ini- representatives of Anypad. The AMA took place on 30th of June.

The total reward pool was 500$ and has been split into 3 parts.

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

Part 1 — introduction and questions from the Website

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

Today our guests are @divyarsh @DecryptoPal @Cryptofuel11 @i_am_ini!

Andrés M. | Satoshi Club:
Dear community, our AMArathon ends with another fantastic project, Anypad!

DecryptoPal:
Hi 🙂 Everyone

Harsha Vardhan:
Hello Everyone

Andrés M. | Satoshi Club:
Welcome everyone, how are you today?

CryptoFuel11:
Hello everyone

Gold Rocket | Satoshi Club:
Hello and welcome to Satoshi Club, @divyarsh @DecryptoPal @Cryptofuel11 @i_am_ini!😁

DecryptoPal:
Yeah, doing good. Got such an overwhelming response from the crypto community since last few days 😀

Busy building from ground up.

Andrés M. | Satoshi Club:
Congratulations, any important event coming?😁

DecryptoPal:
We are having an Airdrop over CMC Campaign currently. Lot of things planned up

Gold Rocket | Satoshi Club:
I see you are very excited about this

Harsha Vardhan:
🚀🚀Airdrop Announcement

Dear community,

🔥We are thrilled to announce our Community Airdrop in partnership with Coinmarketcap starting today, 29th June 2021. Ensure you follow the given instructions accurately.
Let’s go to the moon🤩🤩🌙

Spread the word:
https://twitter.com/AnyPadio/status/1409719332452503559?s=19

Read more about this Airdrop partnership here:
https://bit.ly/35X7LPI

👥Follow Anypad via Official channels:
Telegram chat (http://t.me/anypad_chat)|
Telegram announcement (http://t.me/anypadofficial) | Twitter (https://twitter.com/AnyPadio?s=09)

Andrés M. | Satoshi Club:
Well, to begin with the AMA we would like to know more about you, could please introduce yourself and tell us your role into Anypad?

Harsha Vardhan:
This is Harsha Vardhan: I am CEO & Founder of Anypad. I have a wealth of experience Working as a Business Analyst for a few big enterprise projects, providing support and expertise from the initial discovery phase to the successful completion of the projects. In addition to this experience, I have an extensive knowledge of Business Analysis, Customer Relations and Project Management.

DecryptoPal:
Hi, This is Abhay here. I’m spearheading the marketing effort for our project Anypad. I have good experience within the crypto market coupled with several years of corporate experience in the IT industry. Our team consists of global professionals from major domains, who have a passionate for Defi and crypto industry as a whole.

Gold Rocket | Satoshi Club:
Pay attention, Satoshi Club 🚀 Don’t miss great opportunity😊

CryptoFuel11:
Hi this is Shashank… In the industry for quite a long time now.With more than 5 years of corporate experience in the field of IT and Sales…With a deep passion for blockchain and next gen tech like AI and ML. Currently working with anypad as marketing consultant

Gold Rocket | Satoshi Club:
Btw also we would like to know about your team. Who is on the project team core?

Nice to meet you guys 😊

Harsha Vardhan:
Bhanu Prakash – Web Developer

Web Developer with 4+ years of experience in designing and developing user interfaces, testing, debugging,data management in cloud environment Azure including web API management.

Proven ability in optimizing web functionality that improve data retrieval and workflow efficiencies.

Technical Skills: C#, HTML5 Markup, CSS3, Bootsrap, .NET,Angular JS, JQuery,Javascript, MVC, Azure Devops (VSTS/TFS), Azure deployment and Management.

https://www.linkedin.com/in/vejjubhanuprakash

Phu Pham Ngo -Blockchain Developer
Experienced Blockchain Developer with expertise in nodejs backend development. Additional experience in smart contract development on ethereum and reactjs development.

Arun Sunil L – -Blockchain Developer
https://www.linkedin.com/in/phu-pham-ngoc-8b4776114/

IT Technology Specialist for Cloud, Database and Blockchain Integrations. Additional experience in smart contract development on ethereum and reactjs development.

https://www.linkedin.com/in/arun-l-2904a04/

Harsha Vardhan – Founder

Working as Business Analyst for big enterprise projects, providing support and expertise from the initial discovery phase to the successful completion of the projects.
In addition to this experience, he has an extensive knowledge of Business Analysis, Customer Relations and Project Management.
https://www.linkedin.com/in/harsha-vardhan-0b4a3086/

Aaron Barboza- Community Manager
Experienced Social Media Manager with a demonstrated history of working in the internet industry. Skilled in Customer Relationship Management (CRM), Retail Marketing, and Leadership.
https://www.linkedin.com/in/aaron-barboza-121b321a7

Abhay – Marketing
Functional Consultant | Business Analyst | Six-Sigma Practitioner | Blockchain Marketing experience & vast connections within the blockchain ecosystem.
https://www.linkedin.com/mwlite/in/abhay-kumar-pal

INI Abasi
Social media marketing & Content Management
https://www.linkedin.com/in/ini-abasi-ekanem

DecryptoPal:
Yes sure. Harsha will share the team details in a moment 🙂

Allright!

Andrés M. | Satoshi Club:
Nice to meet you guys, is an honor for us to have great personalities here

Now, what is the essence of Anypad?

DecryptoPal:
The current advent of defi use cases reminds me of how the early days of .com era were. So out of our multiple brainstorming sessions, we decided to get our hands dirty to start understanding the tools and also the blockchain ecosystems. It definitely striked to us as a future of decentralized world, and also how the industries would operate effectively utilizing the power of blockchains.

This then brings us to the realization, that the power of determining the future of blockchains actually lies in the many hands of smart contract developers. With the recent crazy demands on blockchain projects, many took the advantage on the wrong side. Many project creators or developers were driven by wrong intentions, which resulted in scams and rug-pulls.

Gold Rocket | Satoshi Club:
I see you are connected not only by your favorite work, but also by good friendship 👍

DecryptoPal:
And that was the reason why we come together as a team and founded Anypad. Anypad is aiming to change that and help drive the next generation of Blockchain projects. We are a project driven by the community who actually listen, study, evaluate, define and manage product vision and backlog together with our developers, architects, and UI designers.

Gold Rocket | Satoshi Club:
What plans do you have for the future? And what can we expect from Anypad?

DecryptoPal:
We are multichain Launchpad and AMM DEX: incubated by Exnetwork Capital, which is capable of launching blockchain independent micro-cap project creating value in the blockchain ecosystem. We aim to become the first of its kind launchpad which is blockchain agnostic. We plan to integrate HECO chain and BSC for the start and extend to Matic and Solana network in the coming future.

We are also developing an incubator platform targeting blockchain professionals where we will be providing support to kick start their projects.

CryptoFuel11:
Yes truely and together we build great things

DecryptoPal:
Anypad is dedicated to incubating and accelerating the best micro-cap blockchain independent projects, allowing any startups to grow and raise funds seamlessly, irrespective of the blockchain. Anypad’s competitive advantage includes a multi-chain, blockchain agnostic feature for its launchpad, an incubator platform to easily solve scalability issues with improved security, and also a AMM DEX for an easy listing of incubated projects, hence overcoming the issues of initial exchange liquidity and listing fee.

Andrés M. | Satoshi Club:
Thanks for share that complete information.

DecryptoPal:
In the next 30 days, we have planned to aggressively build our ANYPAD Community. We are working on several partnerships that will be announced. And closing our private sale.

We are in talks with Huobi partnership, they are very interested in our project, we will announce our partnership asap.

The IDO Launchpads will be finalized hopefully, and we will be coming in full swing.

Andrés M. | Satoshi Club:
That’s what we see, your community is big👏

Gold Rocket | Satoshi Club:
Where is your office located?

Harsha Vardhan:
British Virgin Islands.

Gold Rocket | Satoshi Club:
What event influenced the project the most?😁

DecryptoPal:
But we are a global team, working from different parts of the world !

Andrés M. | Satoshi Club:
Beautiful place😃

Gold Rocket | Satoshi Club:
Remotely👍in the days of covid this is a excellent

😍

Andrés M. | Satoshi Club:
Well guys, we have collected some community questions for you.

Ready to proceed?

DecryptoPal:
The need to deliver a project that creates value for all its stakeholders, instead of one party.

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

DecryptoPal:
Okay !

CryptoFuel11:
Yes sure.

Q1 from Telegram User@giovannialc
We know that the main function of ANYPAD is to solve the problems that plague users who have little or no knowledge about cryptography, being exposed to loss of liquidity, scams or carpet pulls causing great losses for users, what security methods will implement ANYPAD to avoid all this and that users can have that availability to obtain profits in a stable way? On what will the incubator method be based, and how will it successfully solve the problems already mentioned in blockchian networks?

DecryptoPal:
To start with, we are getting a CERTIK audit, which is one of the best in crypto sphere.

The audit is currently in progress, and we will announce after it gets completed by next month.

The projects launching will be carefully vetted by our process.

Andrés M. | Satoshi Club:
Congratulations, it is a recognized company👏

DecryptoPal:
A brief about our vetting process:

1. Team motivation – why do they want to start this project
2. Audit and KYC – all projects need to perform KYC (not with us, but with professional KYC service) and code need to be audited.
3. LP and funding – if the team prefer to stay anon, we will hold the LP token, and also partial funding until they reach certain key milestones.
   All in all, we do our best to pick projects that are legit – as much as we can.

DecryptoPal:
I hope it answers the question.

Gold Rocket | Satoshi Club:
Great answer👍

Andrés M. | Satoshi Club:
So clear, but which benefits do you offer for long term holders?

DecryptoPal:
Anypad has many benefits for the Holders, some of which are:

Earn passive Income: Good APY on staking

DecryptoPal:

1. Access to IDO: Tiering model for users to access our IDOs. Tier models and more information will be released soon. Don’t miss our announcements on our official TG group.

1. Rising price floor: Every transaction incurs a fee which is sent to liquidity and locked.

This way long term holders are benefitted the most.

Gold Rocket | Satoshi Club:
these are very cool features😊

Andrés M. | Satoshi Club:
Excellent benefits, a great reason to invest and HODL🥳

Gold Rocket | Satoshi Club:
Thanks! Ready to proceed to the next question?

DecryptoPal:
Yes 🙂

Q2 from Telegram User @samuelr21
How is ANYPAD doing the distribution of the $ APAD token, will it be distributed through the same ANYPAD platform? Will you have some kind of sale or auction for the $ APAD token or a whitelist where you will allocate the token? How is $ APAD made up and for what purpose did they create it since they have AMM DEX as a medium of exchange throughout the DEX exchange process, will the token be the base or support?

DecryptoPal:
We aim to become the first of its kind launchpad which is blockchain agnostic. We plan to integrate HECO chain and BSC for the start and extend to Matic and Solana network in the coming future. The rationale behind choosing HECO chain is its ability to provide interoperability, cross chain communication, low-cost & faster transactions. We want to be an early adopter and first of its kind for the HECO chain.

We are also launching on BSC network because of its extended functionality and low transaction cost.
Since most of our initial development and testing is performed on Ethereum development environment thus we can also incorporate ETH network, if it is required. That’s the reason we call ourselves Blockchain agnostic launchpad.

Coming to the distribution part, we will be following a three tier allocation model

And the idea behind having it is a fairer distribution of token amongst the holders.

All the pools will be having different dynamics for different target audience.

This way, we will not only attract a larger audience but also serve them better and provide value to their investment.

Let me also tell you a bit about 3 pools:

One overflow style: like pancake, raydium IDOs

One private style: Hold and stake APADs to get allocation

And third the Bounty pool. We do not want to disclose it right now, but this is one thing that you have never imagined ✅

Andrés M. | Satoshi Club:
How many pools will be there?

DecryptoPal:
Yes, I have just answered it above 🙂

CryptoFuel11:
3

DecryptoPal:
We have done with our seed and private sale.

Andrés M. | Satoshi Club:
Oh thanks for the clarification, so $APAD will work as a governance token? What will be its main usecases?

DecryptoPal:
The main use case is to HOLD $APAD for getting allocation in the private pool. We have planned to keep the entry barrier low so as to enable everyone to participate.

Secondly, the more APAD you have, the more rewards you can reap, as well.

We want our project to be as community driven as possible.

Gold Rocket | Satoshi Club:
Thanks! flawless answers👍 ready to proceed to the next question?🚀

Andrés M. | Satoshi Club:
That’s great, not only benefits for whales

DecryptoPal:
Thanks ! Sure , Get set Go!

Q3 from Telegram User @DK177
Do you allow bots on your platform? If bots are welcomed, what is the mechanism you are using to identify good bots and bad bots? How do you manage good ones and block bad ones? Can your team handle it? If you are not allowing them, what are the messures you have taken to identify bot activities? Currently, malicious bots can go unnoticed and do a severe damage to a whole platform. How do you face that kind of situation? How does your team protect the data and the funds of your community? Do you ensure the privacy and security of our sensitive information including KYC information?

Gold Rocket | Satoshi Club:
This is also the right decision. the community is the engine of the project 👏

DecryptoPal:
Yes, and the third bounty pool will have a huge use case for APAD too. Wait and watch, my friend 🙂

Andrés M. | Satoshi Club:
For sure, we are even more excited right now😁

Gold Rocket | Satoshi Club:
🤩

DecryptoPal:
On our platform, there will be no BOT activity. Currently, there would be Anti-bot measures placed during our launch to stop them from creating havoc.

We will be following best possible security protocols and techniques to safeguard our community from bots.

We will be having KYC regulations with business level standards. We won’t be launching scams. There are already some good projects in our pipeline.

CryptoFuel11:
We’ll also be incorporating all the best in industry security measures to protect all attacks…As we mentioned we care for our community and anyone associated with us. Be assured all the funds and data are secured

DecryptoPal:
We are building day and night 🧠😀

Gold Rocket | Satoshi Club:
Yes you have done a great job … but even more work ahead🚀

Andrés M. | Satoshi Club:
Have you done some “hackathons” to check the safety of the platform?

DecryptoPal:
It’s a constant struggle, afterall 😀

Gold Rocket | Satoshi Club:
The road will be mastered by a walking person😉

DecryptoPal:
Not yet. Our MVP is ready, testing is going on. We can have this too. Thanks for pointing out.

@Cryptofuel11 Please 📝 note

Andrés M. | Satoshi Club:
Great job, security first 👍

Gold Rocket | Satoshi Club:
Do you have any user guides?

DecryptoPal:
We will be publishing it over our Medium by next month. As I said lot of background testing is going on, so we want to make sure that our product is 100% robust and also have easy UI for our users.

We will be taking our time with the product, we won’t be launching a half baked pie

Gold Rocket | Satoshi Club:
😁

Gold Rocket | Satoshi Club:
Thanks! Next question?😉

DecryptoPal:
Bring it on 😉

Q4 from Telegram User @Ashia_24
I noticed that the first blockchains supported by Anypad’s platform are Binance Smart Chain and Huobi ECO Chain, with Solana and Matic being added in the second release. Is it possible that other mainnets, such as Ethereum and Polkadot, will be included in the third release? What is the impact of integrating four blockchains in your project?

Gold Rocket | Satoshi Club:
partially disclosed. but I’m sure you have something to add on this topic 😊

DecryptoPal:
Yes, I have answered some of it. Let me tell you more why we are pushing for HECO in the first run.

Heco is a decentralized, high-efficiency and energy-saving public chain, also the first product launched by the Huobi Open Platform. It is compatible with smart contracts and supports high-performance transactions.

Let’s point out the most prominent benefits both for users and developers.

For users: Low transaction costs, Low transaction delay, High transaction concurrency, Cross-chain asset transfers, User support.

For developers: Compatibility with smart contracts, which reduces development/migration costs, High-quality projects can be listed on Huobi Global, Possibility to apply for marketing service packages, Opportunity to get an official news report supported by Heco.

CryptoFuel11:
Heco has a clear and detailed description of their roadmap until 2023 Q1. Ethereum forks like Binance chain and Huobi Chain will have millions of new users, because solidity devs will easily build on top of them, and the fast success of Binance Smart Chain demonstrates it.

DecryptoPal:
and to clarify, we are not Moving, we are extending. Just like in future we plan to extend it to Matic and Solana networks.

Gold Rocket | Satoshi Club:
by the way, share your roadmap with us please😊

DecryptoPal:
You can check our Whitepaper for minute details. We are using Agile methodology to develop our project using scrum principles.

We follow a dynamic roadmap, we plan for a quarter and then build on that.

Roadmap is being followed by projects having waterfall model. It lacks the ability to be flexible with the ever changing crypto market.

Andrés M. | Satoshi Club:
Thanks for the clear answer guys, ready for the next question or do you want to add something else?

Gold Rocket | Satoshi Club:
A dynamic roadmap allows you to be flexible. a good choice 😊

Harsha Vardhan:
Whitepaper
https://docsend.com/view/cwufgd3ew6qe6i6n/d/6ng55chyh99k66dk

Pitch deck

https://docsend.com/view/cwufgd3ew6qe6i6n/d/2dws9xriw7fvum9h

Gold Rocket | Satoshi Club:
Thanks guys!

Ready to proceed to the next question? Or want to add something?😊

DecryptoPal:
Yes.

Q5 from Telegram User @KeymerS
You mention that Anypad Incubator will serve as a catalyst for innovative and emerging blockchain startups, but could you really tell us more about it? is this “startup catalyst” functionality really only used on the ANY PAD launchpad? or do other Incubator also have the same applications?

CryptoFuel11:
Yes

Q6 from Telegram User @Highpee
In crypto, users are often advised to “Do Your own Research” before investing but you intend to make this easier for investors by only providing investors with carefully vetted, and reviewed early-stage projects. What are the procedure to onboard projects and what do you look at when vetting projects that want to feature on your launchpad so as to ensure they are legitimate projects that won’t pose risk to investors post-sale after raising their needed fund? Do you consider anonymous projects or are projects team KYCed and required to submit information such as audit report, funding, team token and post-sale liquidity details before they get enlisted for sale?

DecryptoPal:
Well, to be honest most of the incubator will provide the same service.

But since we are aiming to be a blockchain independent project, our advantage is that any project can be incubated by us, irrespective of the blockchain architecture.

CryptoFuel11:
As already mentioned:

A brief about our vetting process:

1. Team motivation – why do they want to start this project
2. Audit and KYC – all projects need to perform KYC (not with us, but with professional KYC service) and code need to be audited.
3. LP and funding – if the team prefer to stay anon, we will hold the LP token, and also partial funding until they reach certain key milestones.

DecryptoPal:
Exnetwork capital is the biggest name in our list. We got all the resources to make it work 🙂

CryptoFuel11:
All in all, we do our best to pick projects that are legit – as much as we can. Not finding excuses, but as we all know – 90 percent of startups (not only in blockchain sector) will not be able to survive after 1 year. So, investors must take these into consideration always.

Relentless execution is our core value

Gold Rocket | Satoshi Club:
By the way, share with us your tokenomics please😊

DecryptoPal:
Hell, yeah. Thanks for taking up the next question.

Sure.

Our total supply is 1,000,000,000
We will be launching with a less than 500k MC.

Let me share an overview:)

Andrés M. | Satoshi Club:
Good numbers

Part 2 — live questions from the Telegram community

Q1 from Telegram user @shohan1244
I see your project has several partnerships but who are the main partnership?

DecryptoPal:
We are being incubated by Exnetwork Capital. Eric also holds an advisory position in Anypad.
We have partnered with M6, Psquare capital, and Polkarare as well.
There are various strategic benefits, and it’s smart to learn from people who have already made their way higher up into the crypto community.

We aim to get huge support 🙌 from all our partners.

Q2 from Telegram user @doithay1617
Anypad will also focus on incubating the best meme coins & micro-cap projects, why will Anypad focus on micro-cap projects instead of large-cap projects?

Harsha Vardhan:
Our first priority is on Microcap projects which have strong fundamentals & good teams and also not greedy in making money.

However large-cap project which is good with fundamentals, we also consider them.

Q3 from Telegram user @JoxesXIII
Expanding into HECO is quite daring, however, do you think more blockchains could be the home of AnyPad in the long run?

CryptoFuel11:
As already mentioned the possibilities and functionalities HECO chain offers. Yes, we know it’s daring but we wanted to be the first and we are working to be the best. Surely we will be having an announcement about our next partnerships and integrations. As of now…just wait and watch…

Q4 from Telegram user @Amila19932
You have mentioned that “We will be launching with a less than 500k MC.” What is meant by this? Are you going to keep other half with the team?

DecryptoPal:
No no, it doesn’t mean that. Launching with a low micro-cap means there would be ample space for us to grow.

We are aiming to provide value to our investors and early holders as well.

Saying from purely speculative basis, and dyor, at 100x after TGE, we would be sitting at a 50 mil MC, that is very much doable for a project like us 😉

Q5 from Telegram user @mobilejii
Hello✅✅ what is the minimum $APAD should I hold to get allocation of private pool? what are the different tiers available?

CryptoFuel11:
We already discussed the 3 pools. Tiers information will be shared so please follow us and don’t miss out on any of our official announcements. By the way, we start our tiers from 1000 APAD…Just a hint…

Q6 from Telegram user @Pratze
There is one thing that make me curious, I found that one of special feature from Anypad your project using “Agile methodology with Six Sigma quality level”, actually i never hear about this, could you please explain how does this system work? And what is the benefit for the user?

DecryptoPal:
This is very common in the IT industry, from where we have come from.

Actually, in laymen’s terms, it is a development principle, that says that more important work needs to be finished first. It’s like assigning priority to tasks rather than having a list of tasks.

You know how fast the crypto space changes, this will help us in getting ahead of our competition and deliver promptly to our community.

Q7 from Telegram user @veryCrypto
What makes you stand alone from others @DecryptoPal ?

DecryptoPal:
1) Blockchain-agnostic Launchpad ecosystem.
2) Specializes in micro-cap project launch.
3) Fair allocation policy with value projects.
4) Community building approach.
5) Low market cap at TGE.
6) Our MVP is 100% ready & we are live on BSC & Heco Chain.
7) Lower risk profile as there is no single point of failure.
8) Project development using Agile methodology with Six Sigma quality level.
9) Hardworking cohesive team with good experience of industry and driven to provide constant value to the holders.
10) Educating and creating awareness about blockchain thereby enabling and impacting industry as a whole.

Q8 from Telegram user @DK177
Is $APAD airdrop still running? How can we participate in that? Do you launch more airdrop rounds in the near future? How do you announce them?

CryptoFuel11:
Great you asked …Please follow the below post.

Q9 from Telegram user @Strawberry1999
Investors need to fully consider the market volatility we are in right now. With this in mind, who is which target group of the audience are you after?

DecryptoPal:
As an IDO platform, we are targetting 2-sided markets: Investors and startups.

Investors: We focus on retail investors who have no easy access to private/early seed investment.

Startups: We focus on micro-cap startups, who are in need to have the first seed funding to kick start their startup.

Q10 from Telegram user @Smartling
What purpose/impact does locking the 3% of each transaction serve?

DecryptoPal:
It serves a dual purpose sir.

1) Less bot action
2) Rising price floor

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Anypad. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
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Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners
Anypad Telegram community: https://t.me/anypad_chat
Twitter: https://twitter.com/AnyPadio?s=09
Website: https://anypad.io

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 LPI Dao (Blockwiz) and our guests were @Cryptique007, @ApeFirst and @MisterWyt. The AMA took place on the 30th of June.

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

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

Part 1 — introduction and questions from the Telegram&WebSite

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with LPI Dao (Blockwiz)! Welcome to Satoshi Club😀

D. | Satoshi Club: Today our guests – @Cryptique007, @ApeFirst and @MisterWyt!
Welcome to the club guys! Happy to have you here.

Solly [Will Never DM First]: Hi there happy to be here today.

Mr White @LPI DAO: Hi, thanks for hosting our team.

Mary | Satoshi Club: Hello, welcome to Satoshi Club 👏 How are you, guys?😃

Mr White @LPI DAO: Very well thank you and how are you doing?

Solly [Will Never DM First]: We are doing great we hope the entire community is having an awesome Wednesday.

D. | Satoshi Club: Great! thanks 😊

Mary | Satoshi Club: We are great and happy to welcome you all here!🚀
And I see that we are ready for the introduction part🔥
Could you please introduce yourself and tell us more about LPI Dao (Blockwiz)😃

Mr White @LPI DAO: Yes I will start and then we can move on to the background of LPI.

Mary | Satoshi Club: Sure!

Mr White @LPI DAO: Prior to getting involved in crypto, I worked with publishing and media outlets and had a deep interest in stock trading, which I had been involved in for many years. It was this interest that then led me towards the crypto environment. I am the project leader at LPI having pitched the idea to the team members and followed through with it assuming a leadership role within the project.

Solly [Will Never DM First]: About the project: Our team has diverse experience ranging from financial investment, crypto fund management, marketing professionals, and DeFi expertise. A couple of our team members have been involved in the crypto space for over 5 years.

Identifying the importance of getting into projects at the earliest stage has been the driving force behind the team’s search for new and upcoming projects to invest in. With the introduction of ICO’s in early 2017, the team had identified this as the gateway to early investments. Later when the ICO buzz subsided it evolved into what is know as IEO’s and this changed the way initial investments were conducted as it had shifted towards a more centralized platform that would be out of reach for many projects and investors. The rise of DeFi in 2020 brought about a revolution to fundraising with the introduction of IDO’s and launchpads, offering investors a decentralized solution.

Mary | Satoshi Club: I see stock trading often precedes crypto😃

Mr White @LPI DAO: Yes that is actually what peaked my interest in crypto.

Solly [Will Never DM First]: The team members in their individual capacities spent great amounts of time and money investing in IDO’s and various launchpads. Despite seeing great returns they were soon met with hurdles that limited their ability to gain early access to the best and most promising upcoming projects. This was due to the Launchpad market growing exponentially and led to projects being spread over a variety of launchpads each requiring their own stipulated access tokens.

As a group of investors who frequently communicated and exchanged ideas, the idea for LPI was formulated. The idea of a launchpad index fund would serve as a solution to the pain points of investing in launchpads and accessing upcoming projects.

Mary | Satoshi Club: Yes, it’s not perfect direction and i like that you want to improve the situation😃
How many team members do you currently have?

Solly [Will Never DM First]: At the moment we have 10 members.

Mary | Satoshi Club: It’s nice for the beginning 😃
Are you public?

Solly [Will Never DM First]: No the team is not public as in the DeFi environment projects with anonymous teams have become a norm for various reasons and this has been seen in some of the most prominent and revered projects. Due to the decentralized nature of the LPI project as well as safety reasons the team has chosen to remain partially anonymous.

Should the team be public there is a great possibility for the regulatory aspects of a centralized financial institution to be imposed on the team from various regulatory bodies around the globe, making it highly challenging or incredibly difficult to launch the project and operate the LPI fund. From a safety point of view, it places the team members at risk of cyber-attacks which in turn places the fund resources at greater risk. As a result of these considerations, the core team members will be kept anonymous while LPI will offer access to staff and direct contact through the LPI community and marketing managers.

Mary | Satoshi Club: Gotcha 👍

D. | Satoshi Club: Good and detailed answer, thanks.

Mary | Satoshi Club: Thank you for introduction, guys! Are you ready for the questions our community?😉

Solly [Will Never DM First]: We try to be clear in our approach ✌🏼😎

D. | Satoshi Club: Professional approach 👍

Q1 from Telegram user @messilolz:
LPI Listing Was to be done on 28th June but it has been rescheduled for unknown period. Market is always volatile in crypto and it cannot be controlled by any forces hence how can market volatility made it difficult to have an optimal IDO for LPI DAO. what are the current focus of your platform and what have you been working on? And what I believe investors should be allowed to vote for any postponed of listings done?

Solly [Will Never DM First]: Yes we planned to launch on the 28th of June, however due to the market volatility and pullback which is apparent to all.
The initial launch did not go as planned and therefore the LPI team has been working on various options in order to maximise the launch of LPI.
The team has been working on various partnerships with other project’s and are working amplifying the marketing campaigns.

Mary | Satoshi Club: Yes, a lot of projects postponed their launches or IDO🤷 when you’re planning to launch now?

D. | Satoshi Club: So you postponed your IDO? do you have any specific date for launch? or it fully will be depends on market state?

Solly [Will Never DM First]: @ApeFirst will be answering this question.

ApeFirst: Hello everyone, we hoping to have our launch in the second half of July if all goes well.

D. | Satoshi Club: Hey! welcome to Satoshi club! 😊 got it! so you will launch in July no matter what?

Mary | Satoshi Club: Hello, welcome here!
If you will see that bull market is over than you will wait several years till new bull run?😉

ApeFirst: Thanks! thats our plan.

Mary | Satoshi Club: Thank you for your answers! Ready to proceed?🚀

D. | Satoshi Club: We hope July will be much much better month for crypto than current one 😄

Solly [Will Never DM First]: Yes we may, 🚀 to the moon baby ✌🏼😎

Q2 from Telegram user @josewen:
Various launch pads are now available on various blockchain networks, and the platforms that facilitate IDO sales have seen a significant boost in growth. Demand for allowances, on the other hand, has created barriers to entry into the launch pad space. This is compounded by the fact that most tiers are typically overcrowded, leaving investors with much lower allocations than they bargained for. But really, what makes LPI DAO different? What are the essential and core features of LPI? Can I access and invest in multiple launch pads at the same time? How do they help increase investor profitability?

Solly [Will Never DM First]: Firstly I would like to clarify that LPI is not launchpad, but rather a launchpad index fund.

D. | Satoshi Club: Good clarification.

Solly [Will Never DM First]: While many haven’t thought of investing on networks other Ethereum or BSC mostly because of the technicalities or they are unaware of the many blockchains available in the crypto ecosystem, the LPI Fund will continuously be conducting in-depth analysis on all the new and upcoming launchpads on the various blockchains in search of the best launchpads to invest in. These analyses can be found on the LPI site under the Analysis page.

LPI aims to identify all the pain points of accessing launchpads and participating in IDO’s on different platforms and networks which we have identified as; high cost to access launchpads, low allocations for lower tiers, whitelists/ lottery entries, lack of time, knowledge, and technicalities of the platforms and especially accessing platforms on unfamiliar networks to the investor, staking lock-up periods and a host of other smaller issues faced by individuals. LPI solve these issue by employing the team’s expertise and years of experience in the crypto environment to do the investing in all the best launchpads at the highest tier levels and offering investors the benefit of earning from a profit share in the fund’s success.

Mary | Satoshi Club: You already have some analysts?😃

Solly [Will Never DM First]: Yes we have done analysis, all the analysis can be found on our website LPI.finance.

Mary | Satoshi Club: We will definitely check this👍

D. | Satoshi Club: Can we think about LPI as an aggregator of launchpads?

Solly [Will Never DM First]: No, it is an investment fund that primarily invests in launchpads and IDOs.

D. | Satoshi Club: Got it 👌

Mary | Satoshi Club: Thank you for your answers! Ready to go to the next question?😃

Q3 from Telegram user @DK177
You have indicated $LPI is community driven. It means there is not a company structure behind your project. Why did you choose that model? Did you examine the challenges related to community driven tokens and do have plans to overcome them? By the way, in your revenue allocation, 5% of the amount was allocated for administration and 5% for marketing. There is a 2% allocation for asset management. If $LPI is community driven, how these allocated funds will be utilized? Who render the services related to administration, marketing and management? Since the whole community cannot participate in these activities, are there any representatives and are they spending relevant allocations for above purposes? If so, why you call $LPI a community driven token?

Solly [Will Never DM First]: @ApeFirst over to you ✌🏼😎

ApeFirst: We have chosen the DAO model so the community has an opportunity to voice their opinion through voting, the team will put forward suggestions which the community will have a chance to vote or the comunity can bring up their own suggestions. This is how we will overcome thos challenges. The team is administering the project at the moment and the marketing and management has been outsourced, in the future we hope community teams can rise up to take such positions.

D. | Satoshi Club: How voting process will be look like?

ApeFirst: We will be utilizing Snapshot, which is an offchain, gassless voting tool used by many DeFi communies.

D. | Satoshi Club: Ok, nice choice.

Mary | Satoshi Club: Do you have any articles or another materials which explain how your DAO model works? How you will incentive your community to participate in this DAO model?

Solly [Will Never DM First]: Yes it can be found on our medium.
Link to follow:

Mr White @LPI DAO: https://lpi-dao.medium.com/lpi-dao-governance-d10f789138f9

D. | Satoshi Club: Perfect 👍

Mary | Satoshi Club: Thank you, guys! Ready to jump to the next question?

Q4 from Telegram user @Arisabela:
You mention on your website that there will be mechanisms utilized for holders of LPI token to gain additional benefit aside from the appreciation of the base value of the token but these implementations will be realized once the fund reached a determined threshold, so there’s nothing specific yet that we can know? What kind of mechanisms are you planning to develop and what is the target of the fund to be reached?

Solly [Will Never DM First]: We have released articles relating to the threshold and rewards. These aspects are outlined including the launchpads earmarked for potential investment.
Articles to be dropped ✌🏼😎

Mr White @LPI DAO: https://lpi-dao.medium.com/lpi-dao-threshold-85537702c063
https://lpi-dao.medium.com/lpi-dao-rewards-program-84816684df75

Mary | Satoshi Club: Nice mechanism! Will your investments be done only from funds which you will collect through IDO?

Solly [Will Never DM First]: Yes these investments will be done from the LPI IDO and once the fund is up and running investments into more projects and dollar cost averaging will be employed from IDO sale revenue.

D. | Satoshi Club: Will you have any vesting period for investors from IDO? what percentage of tokens will be in circulation at the start?

Solly [Will Never DM First]: Yes it can be viewed in our tokenomics will drop an image with this information ✌🏼😎

Mr White @LPI DAO:

D. | Satoshi Club: Thanks! 👍

Mr White @LPI DAO: Vesting periods are listed in the tokenomics.

Mary | Satoshi Club: Thank you, guys! Ready to go to the next question?🔥

Solly [Will Never DM First]: Yes 🙌

Q5 from Telegram user @antoni_azx:
There’s an option on your platform for making re-investments, can you tell us what are the requirements to be a candidate for accessing the part of the revenues that can be used for re-invest? Will the whole system work exclusively with LPI tokens or will be other tokens included?

Solly [Will Never DM First]: Ok so to explain the re-investment it’s part of the funds investment strategy which entails re-investment of the funds IDO sales revenue.

Mary | Satoshi Club: Can you explain on the example 😃

Mr White @LPI DAO: When the fund invests into different IDO’s and newly launched projects, a percentage of the revenue earned from these investments will be allocated for re-investment. While some of the other allocations of the revenue will be community rewards for profit share, fund expenses, marketing, etc as can be viewed on the LPI website with detailed percentages of each allocation.
I hope this answers your question.

Mary | Satoshi Club: What I will need to do to join your find? Only hold LPI tokens? Or I will need to register on your platform?
Sure, it’s clear💃

Mr White @LPI DAO: Buying into the project is simple, you just have to buy the LPI tokens, although reward distribution will be done through staking pools.

D. | Satoshi Club: Thank you! let’s move on to the last question from this part 😉

Q6 from Telegram user @meml97:
Scams and rugpull projects can trick sometimes even the most veteran investors on the market. So, my question would be then, what security and authentication methods will LPI DAO have to ensure that it will never invest on a scam project and lead users to them? Also, if hypotetically speaking, the time comes when you invest on a Launchpad that ended up being a rugpull, do you have any kind of anti-scam protection for your users and funds?

Mr White @LPI DAO: As a precautionary measure to avoiding scams and rug-pulls the team will be doing due diligence on all project and analyzing the launchpads before investing. The fund will be very selective with regards to the launchpads it chooses to invest in. Initially the fund will only be investing in the most prominent and top tier launchpads.

The Team will be working towards creating partnerships with insurance protocols, in order to offer investors an option to insure their investment. As we are all aware that anyone could get caught in a scam or rug-pull no matter your experience or expertise. this will serve as a protection mechanism and minimize the risk.

Mary | Satoshi Club: That’s great! Btw, what about LPI security? Do you have any audits done?😃

Mr White @LPI DAO: Our contract was recently deployed and is currently being audited. These audits will be live on our site in a few days, once we receive it from the auditors. The fund will also be releasing financial statements and having external audits conducted annually.

Mary | Satoshi Club: Awesome news! We will be waiting for updates from you! And now live part is knocking at the door 😉
Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Guandog: It is known that the LAUNCHPAD in POLYGON, SOLANA and CARDANO are beginning to emerge and I predict that they will be very popular in the medium term, does LPIDAO also plan to expand to these blockchains at some point?

Solly [Will Never DM First]: Yes LPI DAO does plan on expanding across the entire crypto sphere. Including Polygon, Solana and Cardano.

Q2 from Telegram user @KASG95: You say that LPI DAO offers an investment opportunity “unique to the market”, but really there is no competitor in its class? If so, why haven’t other projects developed a similar platform if they make big profits? or is it very risky?

Mr White @LPI DAO: We have not uncounted any competition as of yet and are the 1st to offer a project of this nature. Our understanding from experience of working through our research and development tells us there is a huge cost to starting a project like this and a lot of technicalities that need to be considered. Also structuring partnerships with launchpads is a challenging task.

Q3 from Telegram user @slla1112: LPI is built on the ETH network. Will you have improvements to use other networks (BSC etc) in the future?

Solly [Will Never DM First]: Yes other networks are already being implemented. We having an IDO lined up on the BSC network which will bridge the LPI token.

Q4 from Telegram user @Kowshik22: How can I participate in your IDO

Solly [Will Never DM First]: The details the sale on the bsc network will be released on all our socials.

Q5 from Telegram user @highpee: 🙋‍♂️Hello LPI, you clarified that you are not a LAUNCHPAD but a LAUNCHPAD INDEX FUND? Does this mean you will not be hosting any token sale on your platform? How will community members be able to invest in top tier and reputable projects? Who will be hosting the sale of these projects?

Mr White @LPI DAO: LPI is an investment fund which invest in launchpads on behalf of all the holders of $LPI tokens at the highest tier in order to get private allocations and large allocations for maximized profit. This profit will then be distributed between the $LPI holders.

Q6 from Telegram user @xperia3: Hi! 💹 NFT is still a hype and after some new features such as NFT farming and NFT staking, a few launchpad projects started to support NFT launch in their system. Do LPI Dao also have a plan like this? Do you plan to implement NFT and maybe use NFT as a rewarding system in LPI Dao?

Mr White @LPI DAO: Yes this is correct it can also be viewed on our roadmap, LPI has the intention and plans to integrate NFT’s as a reward mechanism and to promote the buy back and burn of LPI tokens through the sale and auction of value backed NFT’s.

Q7 from Telegram user @K2ice: What is the minimum amount of LPI tokens that I need to buy and hold to be able to buy into the project?

Mr White @LPI DAO: There is no minimum amount required to earn from the profit share although your token holdings will determine your share in the profit.

Q8 from Telegram user @Gutike95: You say that the failure or devaluation of 1 Launchpad will not be detrimental to the fund, since the success of the others will act as a countermeasure to mitigate this threat, but you will really do a pre-project study to minimize the risks of make the IDO a failure?

Solly [Will Never DM First]: Yes we will study every Ido. This will determine whether the Ido is a long term prospect which presents greater value to the community or if it’s peak will be reached early and cashing out would benefit the fund through re-investment.

Q9 from Telegram user @obulin: 👋👋👋 Hello LPI Dao (Blockwiz) Team 🔥Wish you a great success in your project🔥Do you have any plans on staking on different networks after the IDO launch?

Mr White @LPI DAO: Yes we have plans for this as the LPI token will be on 3 different networks ETH, BSC and Polygon therefore staking for all will be made available.

Q10 from Telegram user @adaatalay: What is different in LPI? What advantages do I get as a $LPI holder in the short and long term?

Solly [Will Never DM First]: In the short term there will be high APY Staking and in the long term you will be earning from the rewards program as well as the scaling of launchpads.

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/
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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 Radix and our guest was @piersr – representative of Radix. The AMA took place on 30th of June.

The total reward pool was 500$ and has been split into 3 parts.

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

Part 1 — introduction and questions from the Website

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

@piersr welcome to Satoshi Club 😉

Piers from Radix:
Hey guys!

Great to be here.

Mary | Satoshi Club:
We are happy to welcome Radix project here👏

How are you today?

Paul Mont | Satoshi Club:
Welcome, great to have you here! 😉

Piers from Radix:
Very good!

How are you?

Mary | Satoshi Club:
Awesome! Let’s start our AMA than👏

Paul Mont | Satoshi Club:
We’re super excited to hear anything about Radix 🙂

Mary | Satoshi Club:
We will start it with introduction 😀

Piers from Radix:
Awesome, let’s do it.

Paul Mont | Satoshi Club:
So, please tell us more about yourself – your past experiences/background and also how did Radix come to life.

Piers from Radix:
I’m Piers Ridyard. I’ve been CEO of Radix for almost four years now. Before that, I founded a decentralized insurance startup called Surematics that went through YCombinator. I’m also host of The DeFi Download, which is a podcast on all major podcast platforms (defidownload.com). If you’re interested in DeFi, please do check it out, we’ve had Aave, Ren, mStable and many others on.

Radix came to life before me – I joined the project in 2017, but Dan started working on the technology behind it way back in 2013, a year after he got into the Bitcoin community.

Mary | Satoshi Club:
Wow, that’s interesting, i will definitely visit it🔥 great background!

Piers from Radix:
I’ve been in crypto since 2015, but I’m a baby next to Dan 😆😆

Mary | Satoshi Club:
Ahaha😂

Paul Mont | Satoshi Club:
😁Yet this intro already exudes passion and hard-work 😉

Piers from Radix:
Radix came about because Dan realised that while the promise of blockchain was revolutionary, the technology did not live up to the hype. Fast forwards 8 years, and this is where Radix is today!

Done

Paul Mont | Satoshi Club:
I think that reading through all the various Radix whitepapers, I’ve only managed to scratch the surface of what Radix is about and how revolutionary it is gonna be in the cryptoverse 😁

Mary | Satoshi Club:
What Radix aims to bring to crypto?

Piers from Radix:
Haha, it’s all about those paper! Have you seen our new blog explainer series with infographics? It’s pretty awesome and very readable

https://www.radixdlt.com/post/cerberus-infographic-series-chapter-i

Start here, and enjoy!

Cool, good question

Paul Mont | Satoshi Club:
Yes, and it is great and very enjoyable! Thank you very much for sharing! I’d recommend anyone to read through it, it’s definitely worth one’s while. Radix is definitely on the edge of tech! 😉

Mary | Satoshi Club:
I see you were in DeFi before it became mainstream 😀

Piers from Radix:
Wasn’t called DeFi back then.

I need a t-shirt that says “In DeFi before it was cool”

😆😆

Radix is a layer 1 protocol. That means it’s the base layer where data, tokens and smart contracts live. Decentralised applications (or dApps) such as Uniswap can then be built out of those components. Ethereum for example is a layer 1 protocol.

Unlike Ethereum, Radix is a layer 1 protocol built specifically to serve DeFi, we like to say it is layer 1 DeFi done right. This is because Radix is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.

Mary | Satoshi Club:
😂 perfect t-shirt

Paul Mont | Satoshi Club:
😂

Piers from Radix:
There are three huge problems in the DeFi space right now.

1. DeFi developers spend up to 90% of their time securing their smart contract code rather than building functionality. Despite all this concentration on security there have been $285m worth of hacks to date!

Mary | Satoshi Club:
Do you want to tell that it won’t be possible to hack projects?😀

Piers from Radix:
Hahaha – I won’t go that far, but we make it MUCH easier to build and deploy secure code.

We have created our own smart contract language called Scrypto.

It has been developed as a result of spending a lot of time with DeFi developers, both from leading projects and from people just getting started.

Paul Mont | Satoshi Club:
I guess building on Ethereum right now is like writing on an empty sheet of paper. Great flexibility, but there are huge risks as well, at least in building froms scratch.

Mary | Satoshi Club:
Yes, we have question about this a bit later😉

Piers from Radix:
Yep, this is a great analogy

Or like climbing a mountain without a safety rope

Just not a good idea.

Mary | Satoshi Club:
90% won’t reach it😂

Piers from Radix:
The second massive issue in DeFi right now is a hidden one – the DeFi ecosystem is built on open source code, but many open source developers don’t benefit from contributing to the community unless they build their own projects. This slows innovation and collaboration and means the space doesn’t move as fast as it should, or have as much talent as it should.

From interviews with leading projects, one of the biggest problems in Ethereum right now is Solidity talent. That is partially related to Solidity just being TERRIBLE, but also to this issue as well.

Lastly, we all know the issue of gas fees.

Mary | Satoshi Club:
But others benefit😉

Piers from Radix:
Right.

Which is fine and good.

But there are ways to make sure both do.

Paul Mont | Satoshi Club:
Yeah, that’s sort of a free-riding issue 😅 Besides, developing can be rewarding, but would be cool if it would also economically incentivized properly 🙂

Mary | Satoshi Club:
Piers, thank you for your intro! After reading it i am even more excited to hear your answers to the questions from our community which we choose for the first part of our AMA 😀

Are you ready to start?🚀

Paul Mont | Satoshi Club:
Let’s get on with the community questions and flesh out all the awesomeness about the project 😉

Piers from Radix:
Radix addresses each of these issues in the following ways:

1. A purpose-built DeFi programming environment that will enable fast AND secure development. This makes sure Developers on Radix can build fast & don’t break things.
2. A system of on-ledger royalties that will reward those that contribute dApp code to the ecosystem. This rewards everyone that makes the ecosystem better, even if they don’t build entire dApps.
3. A consensus algorithm that will provide unlimited scalability without breaking DeFi composability. Enabling scalability without friction.

Done.

Hit me with dem community questions.

Paul Mont | Satoshi Club:
Haha let’s go! 😁🚀

Q1 from Telegram user @giovannialc
I understand that RADIX is a project that wants to dedicate a problem worldwide using the DeFi as a primary method and to a market that can be carried many in a more secure way, of course this would be future plans since the capital of DeFi e is very Little and only enough for a certain part, taking into account that the DeFi have grown rapidly so far this year and if all goes well in two years maximum it would already cover the 75 billion dollars of 0.05% of the world’s GDP, They give many benefits, how do you plan to solve this problem, what methods do you plan to use to bring DeFi to all possible users and thus provide a fairer economy for all? What led them to work based on the main problems of the world economy that only few benefit because of the banking systems that have many barriers that do not allow many users to invest or only obtain profits?

Piers from Radix:
Oooooohhhh ok. I could talk for hours about many aspects of this, so I will try and keep this nice and tight!

Our philosophy on this is actually pretty simple to explain.

The internet changed the game for the competition for attention.

It went from a local competition to a global one.

Suddenly anyone could start a website and compete for attention of anyone in the world.

This lowered the barrier to entry and massively increased consumer choice and consumer utility.

It ended up creating companies like Facebook and Google and Instagram and Whatsapp.

Right now, we stand at the cusp of a new era of competition – the competition for capital.

What Radix does is it lowers the barrier to entry for anyone in the world to compete for anyone’s capital.

DeFi breaks down barriers for users, and for developers. Suddenly you don’t need millions and millions to create a company like Robinhood or Lemonaide, you can do it from your university dorm or your bedroom.

Mary | Satoshi Club:
But i will need to have basic skills to create Mary DeFi?😂

Piers from Radix:
Hahaha

Paul Mont | Satoshi Club:
I like the sound of it 😂

Piers from Radix:
We can teach you, no problem.

Mary coin incoming.

Paul Mont | Satoshi Club:
Hahaha give me some 😁😂

Mary | Satoshi Club:
You will or already have educational programs?😀

Piers from Radix:
Ahhh, maybe.

Not yet.

No comment?

😀

This competition for global capital is going to RADICALLY reshape global finance. It will make it better, more accessible. That is how DeFi will eat the world of finance. That is what we built Radix to do.

Done.

Mary | Satoshi Club:
Can’t wait to try🚀

I will be in the first row😂

Paul Mont | Satoshi Club:
Crystal clear, I think @giovannialc will be very satisfited by your answer 😉

Piers from Radix:
Thank you for your question @giovannialc

Mary | Satoshi Club:
And next question incoming 😉

Piers from Radix:
Hit me

Q2 from Telegram user @meml97
I read that Radix has it’s token; XRD, but also has another version of it’s token called eXRD, which it’s main function is to allow users to move quickly between Ethereum and Radix. But, is this the only use case for eXRD or are there any other use cases for it? Why you just didn’t have one token capable of providing this quickness for users? Also, it made me curious, if you have this token for a quick moving between ETH and Radix, if later on Radix’s services are available on other blockchains, will you have other variants of XRD, such as a BEP-2O for BSC, for example?

Piers from Radix:
I’m READY

Ha! Great question. So, we launched the eXRD back in November of 2020. This was launched to make sure that we had a great distribution of decentralized stakers for when the mainnet went live – so the first purpose was that of building decentralization of the network before it went live.

Piers from Radix:
When the network goes live on the 28th of July, it will pass into it’s second purpose: a bridge between Ethereum and Radix. This means you can think of eXRD like wBTC on Ethereum. It is wrapped XRD on Ethereum, letting anyone who owns Radix tokens to use both DeFi on Ethereum and DeFi on Radix when people start building DeFi applications in the Radix Ecosystem.

Mary | Satoshi Club:
Did you have IDO or in which way distribution were done?

Piers from Radix:
We did a straight token sale.

Lots of reasons for that, most of them boring and legal in nature.

Mary | Satoshi Club:
Easy and clear😀

Paul Mont | Satoshi Club:
28th of July, that’s less than 30 days! The mainnet launch is upon us! 😉

Piers from Radix:
IT’S COMING!!

Hahaha

In answer to the last part of the question.

Yes, we expect that the XRD will end up appearing on a lot of networks, BSC and others. We also have build Instabridge to make sure that all tokens on other networks can also be brought onto the Radix network.

Instabridge is our cross-ledger bridging service and it goes live with eXRD -> XRD when the network goes live (or shortly after). We will be adding more tokens and more networks over the next few months after that.

All very exciting.

Done.

Paul Mont | Satoshi Club:
Which will be XRD’s main features and where is it possible to buy eXRD currently?

Mary | Satoshi Club:
How will bridge work? And of course how fast it will be?

Piers from Radix:
Basic features of the XRD:

1. Used to pay for transactions, operations, deployments and DeFi on Radix
2. Used to stake on Radix to earn staking rewards (300m XRD per year available to stakers)
3. 100% of fees are burnt

Main places to buy right now are Kucoin, Bitfinex, Gate.io, MXC and Uniswap. For the full list go here: go.radixdlt.com/RadixWebsite and click “buy tokens” at the top

Mary | Satoshi Club:
Nice exchanges 😀 i won’t ask wen binance😂

Piers from Radix:
Our first bridge is a centralised service, with trustless bridging coming later (as that takes more development and testing and adding new ledgers and tokens quickly is much harder). It will take about 10 minutes to get between Ethereum and Radix, depending on Ethereum congestion

Done

Mary | Satoshi Club:
Good speed! Which assets we will be able to bridge?😀 Only XRD?

Piers from Radix:
Starts with eXRD -> XRD. We’ll be looking to add all ERC20 tokens, and BTC as soon as we can after that. We’ll then start looking at other chains like BSC as well. It would also then allow you to move between each of those chains directly. Also considering making a faster Polygon bridge but that will take a bit more time to sort out.

Mary | Satoshi Club:
Perfect 💞

Thank you for your answers! Third question is near😉 ready?

Piers from Radix:
Gooooooooooooo

Paul Mont | Satoshi Club:
Question number 3 champing at the bit 😉

Q3 from Telegram user @Highpee
Radix has identified 3 major problems facing the current Defi set up which is currently being championed by Ethereum. The first is that solidity developers spends over 85% of their time securing code rather than developing functionality, the second is the less collaborative innovation due to community developers not adequately compensated and the third is unfriendly gas that limit blockchain adoption by an average user. How is Radix designed to be the perfect blockchain that will address these three challenges? How “Scrypto” (your own Defi programming language) better than solidity? How will you be able to achieve all these without breaking composability which is often the case with solutions that is built to tackle scalability?

Piers from Radix:
This person has done their research!

Absolutely spot on. To quote myself earlier (because I’m clearly telepathic):

Radix solves these three issues by delivering:

1. A purpose built DeFi programming environment that will enable fast AND secure development. This makes sure Developers on Radix can build fast & don’t break things.
2. A system of on-ledger royalties that will reward those that contribute dApp code to the ecosystem. This rewards everyone that makes the ecosystem better, even if they don’t build entire dApps.
3. A consensus algorithm that will provide unlimited scalability without breaking DeFi composability. Enabling scalabilty without friction.

Paul Mont | Satoshi Club:
@highpee is a masterful researcher and esteemed community member 😉

Piers from Radix:
This makes Radix is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.

I know I said that too before, but man, I cannot say it enough 😆\

Ok, so scrypto.

We haven’t actually released that much information about scrypto yet – it has merely been teased a lot

That will be released towards the end of this year, and the full details will be out then. However! I will say this.

Paul Mont | Satoshi Club:
(drum roll from me) We love anticipations and preview info here at Satoshi Club 🤍

Piers from Radix:
Solidity was inspired by Javascript because Ethereum wanted to make it easy to pick up and use for anything. They didn’t know what blockchains would be used for so they picked a language to be simple for a large audience to get to grips with.

However, if you asked a developer building a finance company back end to build it in Javascript, they would literally beat you to death with a keyboard

(matt black, RGB of course)

Mary | Satoshi Club:
Does that fact that you will have your own language mean that developers will need to undergo a certain retraining? How easy it will be?

Paul Mont | Satoshi Club:
😂😂

Mary | Satoshi Club:
Lol😂

Paul Mont | Satoshi Club:
Black is meaner indeed 😂

Piers from Radix:
Yes, it absolutely does. We use the Rust methodology of language design and delivery. Rust is pretty easy to pick up, but it has a very VERY picky compiler. Basically, if you do anything the language thinks is stupid or will throw and error, the language won’t even compile. This means that loads of issues are picked up in what is called “compile time”.

On scrypto, we applied the same principles, but to DeFi development. This means that if your code has some sort of error or common mistake (like recursion errors) it won’t even compile. This is like a guardian angel looking over your shoulder.

So, yes, you have to learn a new language. But I promise any developer that after they have built with Scrypto they would NEVER want to go back to Solidity.

Mary | Satoshi Club:
Oh, that’s a dream😂 you will leave hackers without their lobsters😂

Piers from Radix:
The last part of this question – not breaking composibility

Mary | Satoshi Club:
Thank you for your answers, Piers! What about next question?😉

Continue, please 😀

Piers from Radix:
I’m going to say that this is a VERY long and pretty complex answer. At a high level, it is essential to DeFi. If anyone wants to go deeper, then this is the starting point to understand how we achieve this in depth: http://go.radixdlt.com/Satoshi

Let’s do it!

Paul Mont | Satoshi Club:
Byzantine Fault Tolerance is indeed a key topic when it comes to scalability and sharding 😉

Piers from Radix:
Good ol BFT and those silly generals

Paul Mont | Satoshi Club:
They gotta communicate better and get along 😂

Piers from Radix:
Mobile phones.

That’s what they were missing.

Paul Mont | Satoshi Club:
Haha yes😂😂

Ok, let’s go for question 4!

Piers from Radix:
Hit me.

Q4 from Telegram user @DK177
Olympia Mainnet Lanching is on 28th of July. In your medium, you have indicated that the Radix Desktop Wallet will be included in this release. Although you have said you have a higher degree of confidence on its security and reliability, that statement does not suffice for the community. Do you have any insurance partners? Did you conduct any audits? Where can we see some audit reports if available? Do you take the responsibility about the funds we keep in Radix Desktop Wallets? Why did you choose this particular wallet?

Piers from Radix:
Why did we choose this particular wallet? I mean, we built it! Haha.

Paul Mont | Satoshi Club:
Haha easy-peasy 😁

Piers from Radix:
The wallet itself is built using headerless chromium – for anyone not familiar with it, it is the core of the Chrome web browser. That comes with a bunch of great tools around things best security practices for storing private keys locally etc

Then in addition we are working on the final stages of getting the Ledger Nano S integrated with the desktop wallet, so that people can use an external hardware wallet if they wish to for extra security.

Mary | Satoshi Club:
What about mobile wallet? Will you have it?

Nice move👍

Piers from Radix:
Not to start off with, not, all desktop while we test out things like mainnet staking. Launching too many wallets simultaneously is not really a good idea for a bunch of reasons.

As is pretty normal for the space, we do not take responsibility for funds kept on third party devices, all software is open source and provided “as is” under the normal set of open source licenses. We are doing everything we can to make sure that people can hold their own crypto securely, but at the end of the day, crypto is still very much down to your own security.

Mary | Satoshi Club:
True, you’re doing everything step by step

Piers from Radix:
We are looking at ways of substantially improving this in future iterations of the Radix wallet, and future functionality on the ledger itself to make things like wallet recovery easier and more intuative

But one step at a time

Done

Mary | Satoshi Club:
Thank you for your clear and detailed answers! Ready to proceed?🎉

Piers from Radix:
Yep

Paul Mont | Satoshi Club:
Ok, I feel next question is a nice segue to your previous explanation regarding Scrypto 🙂

Q5 from Telegram user @SotiY97
On your white paper you say that “The Component Catalog and Developer Royalties provide the foundations of a fully decentralized marketplace for Component development”, and related to this I read that developers of Components may freely set their own per-transaction royalties and that they will be enforced by the Radix protocol. What benefits for the users of your platform will be generated thanks to this feature that allows component developers to set their own per-transaction royalties, and in what way RADIX DLT intends to enforce this per-transaction royalties in order to provide more benefits to the independent developers who participate in this magnificent project?

Paul Mont | Satoshi Club:
Now, if I were a developer I would be paying CLOSE attention to the answer to this question 😉😁

Piers from Radix:
GREAT question!

As with all great questions, not a simple answer, but I will do my best

Mary | Satoshi Club:
As always 👍

Piers from Radix:
The basic principle of the on-ledger code library and the on-ledger royalty system is to create a market place between developers and DeFi project builders. Because Radix is a permissionless open source system, we have no way of granting any one piece of code a monopoly on any given function.

So if you created a great little Uniswap clone and I created a great little Uniswap clone, and we both put it into the Component Catalog, we may both get business, or neither of us might get business.

This comes down to the market demand for what you have built and the prices you have set for the royalties

All of these are set by the developer when they add a Component to the Catalog.

Mary | Satoshi Club:
Perfect system. If i will ask you which weak sides Radix has, will you answer?😂 Or i will rephrase – what you think you need to improve more?

Piers from Radix:
The royalties themselves are enforced at the protocol level. This means that they actually become part of the transactional charging structure when calling a component as a user, or instantiating it as a developer, it just looks like part of the transactional charge for use. This means that they cannot be got around once a component has been put up – if you want to use that component, you have to pay the fees. If you don’t, free market applies.

Hahaha – be live?

Mary | Satoshi Club:
🤷😂

Paul Mont | Satoshi Club:
Sounds quite the task haha 😁

By the way, can components be then modified later on?

Let’s say I need a component for, hmmm, my bycicle, like the break. I decide to use a particular component, but can I change the adapt the component code for my purposes?

Piers from Radix:
Yes, but not in the way you are thinking. The on-ledger library is very much like github, meaning that if you push an update, that is an available merge, but each person that has integrated the component has the option to upgrade the component or not.

You can change any component code for your purpose.

But you can never force a change on anyone else at any point.

This is to prevent people doing things like hiking fees or introducing back doors or anything like that.

Paul Mont | Satoshi Club:
I love this modular design. I think also leads to more standardized code that can definitely reduce the risk of possible flaws as well 🔥

Piers from Radix:
Yea, that is definitely the idea.

Git is such a wonderful tool for coding development and deployment, this takes all the great things about git and adds attribution and royalties.

Paul Mont | Satoshi Club:
Can’t help but agree! 🔝

Great explanations, thank you very much Piers!

Piers from Radix:
Welcome!

Paul Mont | Satoshi Club:
Time to proceed with the last question for this first part of the AMA, are you ready to go? 😉

Piers from Radix:
Yes!

Q6 from Telegram user @victorogb
A part of the Radix ecosystem, is an initiative called the “GoodFi Alliance”, which is a shared mission towards the target of a 100 million DeFi users, founded by Radix and supported by notable projects like; Chainlink, Bepro, Oneiro, StakeHound and many more. Such initiatives are hugely significant especially with a seemingly volatile and turbulent DeFi space. With supporting a 100 million DeFi users, what critical help and assistance would the GoodFi Alliance provide, how can an investor particular join or get involved, and with such Alliance of notable DeFi projects what is the long-term solution of GoodFi to DeFi’s barriers and setbacks?

Piers from Radix:
Great question. We love GoodFi. We actually have a bunch of new parts to the website that we created over the last couple of months that will be going live soon and we are hoping will help newbies get started! The basic idea of this is to create a website with all of the resources you would want to give to your friend if they asked you “what is this DeFi thing and how do I get started”.

We created it because the whole DeFi space is currently very geared to insiders. It is difficult to understand, and VERY difficult not to end up making a mistake.

We wanted to build a safe space for those people that want to put their first dollar into DeFi and make sure that it wasn’t a frustrating and difficult experience to do so!

Long term – we want getting into DeFi as easily as opening an Instagram account. That’s a long way off, but I think the entire industry is alligned behind that goal. Only then does the industry start breaking into the mainstream!

Mary | Satoshi Club:
Actually, we still don’t have crypto universities and we really need such resources 👏

Piers from Radix:
Done.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @K2ice
For how long have the Olympia been on Betanet and what can you generally say about how the Olympia has been so far?

Piers from Radix:
Around two months. Betanet has been solid and we have been overall very happy with the results of the testing. Next network to come out is Stokenet, which is our persistent testnet, and that goes live this week! That is the full sandbox for any dev looking to test before they deploy against the mainnet.

Q2 from Telegram user @Shaa93
Notoros is level 2 of Radix right? What is the relationship between Notoros and Olympia launch mainnet?

Piers from Radix:
Haha, they call themselves level 1.5 😀 – their Solidity environment will be live on Olympia and will let anyone who wants to test out the Radix network speed and security, but use solidity, to do so. We love what they are doing. They are not team members, just some super-smart peeps from the Radix community.

Q3 from Telegram user @captainprice111
How will radix end the betanet and integrate into the Olympic system? What will happen to the wallets and private information of the users in betanet? will olympia, Alexandria, Babylon, Xi’an be interconnected?

Piers from Radix:
Betanet doesn’t integrate into the Mainnet, it is just a temporary test network that we have now taken down. Stokenet will be persistent but we will periodically re-set it and wipe the state to keep it light and easy to test against. Olympia, Alexandria, Babylon and Xi’an will all be state compatible with each other, meaning that anything you do on one network will always be carried though to the next.

Q4 from Telegram user @coinresearcher
The smart cotnract audit is very important on defi projects so with Radix will there be no need for smart contract audit if the system is so secure?

Piers from Radix:
Audits are always going to be necessary for any code that is expected to be dealing with large amounts of money. Scrypto does not remove the need to audit code, but it makes the audit process MUCH simpler and substantially reduces the cost of audits. The reason for this is quite technical, but essentially part of a audit is working out the ways that a smart contract might get into an error state. Since Scrypto compiles down and runs on the Radix Engine rather than the EVM, all code is run within a finite state machine. This is the same execution environment that is used within nuclear power station control systems – essentially it is MUCH more secure because it is much harder for the system to get into error states in the first place. Because of this, auditing Scrypto code should be a lot cheaper and a lot faster than auditing Solidity code. We still advise auditing though!

Q5 from Telegram user @andrey_seleznov
Radix is the first layer-one protocol specifically built to serve DeFi. Radix introduces a scalable, secure-by-design, composable platform with a DeFi centric development environment to make it easy to build and launch scalable DeFi products. Could you explain the secure-by-design part please? What unique functionality and algorithms have you created that make the Radix blockchain so secure? How secure is it exactly by the way, as we know it is alway possible to break something just may be economically not feasible. Thank you!

Piers from Radix:
The Radix consensus algorithm is called “Cerberus” – we have done a load of very deep theoretical work on proving that we can deliver atomic composability without breaking linear scalability – including doing a bunch of research work with the consensus and blockchain research team at the University of California Davis and Prof Mohammed Saddogi.

This ended up with writing the mathematical proofs behind our consensus model: https://arxiv.org/abs/2008.04450

This underpins our cross-shard consensus. On top of this, we use proof of stake to secure the network. On Radix, anyone with XRD can stake (at least 100 XRD), even if they do not run a node. This is designed to make staking to secure the network as easy as possible. The combination of Cerberus and Proof of Stake keep our network both scalable and secure.

Q6 from Telegram user @fugs_jis
Recently Radix listed on Kucoin. So, what is the future listing plan of Radix? Is there any plan to listed on more CEX/DEX?

Piers from Radix:
There are always more in the pipeline!

Q7 from Telegram user @Freedomety
I’m saying that, What distinguishes the components developed by Radix Engine as Ethereum smart contract solution methods from the difficulties they are supposed to solve? What role does this technology play in the construction of Ethereum chains, and how can it be used? Do you intend to integrate multi-chain in the future?

Piers from Radix:
This has been covered a lot, but I wanted to answer the part about Ethereum chains – the short answer is no, our technology cannot really ever be applied to Etheruem chains. This is good because it gives Radix a long term advantage that any network that has adopted Ethereum technology on (Polkadot, Avalanche etc) will really struggle to catch up with. We definitely intend to integrate with many chains though, that is what Instabridge and related services are ALL about!

Q8 from Telegram user @Kabirkapoor9
Please share list of Tier1 & Tier2 exchanges on which XRD is listed?

Piers from Radix:
Bitfinex, Kucoin, Gate.io, MXC.

Q9 from Telegram user @ripon2004
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team?

Piers from Radix:
12Bn XRD at go-live. Maximum supply of 24Bn. 300m emitted every year as proof of stake rewards. 2.4Bn locked for the team.

Q10 from Telegram user @Freedomety
In this situation my question is :

How would you introduce Radix DLT to folks who are unfamiliar with cryptocurrency? Do you have any tutorial videos on your project that we could watch to understand more about it? Could you please provide the essential links so that we may learn more about your platform?

Thank You

Piers from Radix:
Absolutely! This is a GREAT starting point: http://go.radixdlt.com/Satoshi – I also recommend our youtube channel: https://www.youtube.com/c/radixdlt plus if you want to dive deeper, come join our community:

Telegram: go.radixdlt.com/RadixTelegram
Discord: go.radixdlt.com/RadixDiscord
Twitter: go.radixdlt.com/RadixTwitter

Or if you like a mailer, our newsletter comes out every two weeks and has lots of great information in it as well: http://go.radixdlt.com/RadixMailingList

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Radix. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

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Radix Telegram community: https://t.me/radix_dlt
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Website: https://www.radixdlt.com