Month: August 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 BtcProxy and our guests was @donnkim – representatives of BtcProxy. The AMA took place on 11th of August.

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 BtcProxy! Welcome to Satoshi Club😀

D. | Satoshi Club:
Today our guest – @donnkim ! 🚀

Good to have you with us today 😊

Donn K:

Mary | Satoshi Club:
Welcome to Satoshi Club 😀

Donn K:
Hello everyone and thank you for having me here at Satoshi club.

D. | Satoshi Club:
Hello! nice photo! 👍

Donn K:
Thank you.

Mary | Satoshi Club:
So, let’s start our AMA! We are really excited to hear more about BtcProxy 😀

And we will start with intro!

Could you please introduce yourself and tell us more about BtcProxy 😀

Donn K:
Yes thank you.

My name is Donn Kim and im the founder of BTC Proxy.

I’m also the CTO of Krypto in Investment Advisors which is the sponsor to a Bitcoin ETF in the USA.

BTC Proxy is an institutional BTC Bridge to Defi built on Matic L2

Mary | Satoshi Club:
Do we have chances for ETF in the nearest future?😀

Donn K:
And the governance token is $PRXY

We will see it is currently undergoing review🤞at the SEC

Mary | Satoshi Club:
Hope one day we will get it😀

Donn K:
I think we will get one soon and hope that ours is one of the approved ones.

Mary | Satoshi Club:
It will be a great day for crypto community 👏

Donn K:
Yes USA is the last frontier and it would be a great day for retail investors.

D. | Satoshi Club:
By the way, what was the motivation to create BTC Proxy? and how long project under development?

Mary | Satoshi Club:
For sure 👏

Donn K:
Well the project is the combination of blockchain tech and the Exchange Traded Funds.

learning how ET products were structured and how they are used by institutions enabled us to develop a similar structure using blockchain

in a way that they would use it

to tell you the truth we begain in 2017 experimenting with different models but we failed to launch in the ICO era because the product just wasnt good enough

so we literally retooled and created system to fit the needs of the potential users

Mary | Satoshi Club:
So long😀

Donn K:
I think we have found product-market fit here from the feedback we’ve received.

Mary | Satoshi Club:
I am sure you did it perfectly 😃

D. | Satoshi Club:
I suppose now is the right time for such a project as yours in DeFi era 👍

Donn K:
We had the help of many people, just a shout out to my partner on the asset management side if he is watching Jason Toussaint

we think we have something special here

just wanted to also mention that because of the emergence of governance tokens in the past 1.5 years we were able to create this PRXY ecosystem

and was able to bring another very special function which is the ability to FARM BITCOIN

D. | Satoshi Club:
Haha great! 👏👏👏

Mary | Satoshi Club:
Yes, governance is important and, to be honest, i almost don’t know any project which launched without governance lately 😀

Donn K:
Thats right, it is important to separate of the value capture from the protocol

Mary | Satoshi Club:
Donn, thank you for your intro! It was informative and detailed 👍

We also collected 6 questions from our community for the first part

Are you ready for them?

Donn K:
I just wanted to make an announcement to our community before we start.

Mary | Satoshi Club:
Of course 👏👏👏

Shoot it🚀

Donn K:
BITCOIN FARMING goes live at 200pm UTC so go-to app.prxy.fi and stake your PRXY to earn BTC

today is the launch of our Bitcoin Farm and the bitcoin was generously donated by Alphabit Digital Currency Fund.

Mary | Satoshi Club:
Wow🚀🚀🚀

Donn K:
https://twitter.com/BTC_proxy/status/1425281031297409025?s=20

Pls go ahead with questions.

Mary | Satoshi Club:
Perfect 👏

Let’s go 🚀

D. | Satoshi Club:
Insane possibility to get bitcoin from farming 👀

🚀🚀🚀

Donn K:
We believe it is a great product because BTC is not a shitcoin and the value is stable

So people will be interested in this type of return

D. | Satoshi Club:
Totally agree!

Q1 from Telegram user @josegamboac
BTCpx adds value to the crypto ecosystem. By combining the ubiquity and maturity of BTC, the functionality of ETH and the scalability of the Matic (now Polygon) network. BTCpx opens up a world of possibilities that allow your Bitcoin to perform like never before in the world of DeFi. So what are the uses that can be given to BTCpx?

Donn K:
BTCpx is considered a bridge to DeFi for certain users that do not or cannot sell their Bitcoin. The way it is different than other wrapped BTC products is that the user directly deposits their BTC into a 3rd party custodian where you know it is safe, there is no threat of a rug pull, it is insured against loss.

The user can mint an erc20 or polygon version of their BTCpx where they will be able to utilize it to farm yield. Hopefully with some time we can have various pools set up where they can stake it. One such one that we are planning is a BTCpx/USDT pool on Polygon

So essentially BTCpx is the Bridge👍

Mary | Satoshi Club:
So, currently you have both erc20 and polygon tokens? Do you have plans to add more networks?

Donn K:
We initially began with these two networks and will likely expand next to BSC since that is where a lot of the defi is happening.

D. | Satoshi Club:
But could you explain a little bit more, how BTC Proxy is different from other ‘wrapped and pegged’ BTC versions in DeFi like WBTC or renBTC? like explanation for dummies 😁

Mary | Satoshi Club:
This would be great!

Donn K:
Sure we have a small table that shows the differences.

Donn K:
The main difference with WBTC is that WBTC has no interface and it is a centralized product. The holder of WBTC has no rights to redeem it for BTC.

There is no governance associated with WBTC either.

but what WBTC has is it uses Bitgo as their custodian

this is why it is 15x larger than renBTC

a lot of institutions are using this product

and that is the main drawback for renbtc. with ren they themselves hold the BTC somehow

so the custody part of renbtc excludes it from a lot of usage

Mary | Satoshi Club:
True😀 btw, as i understand you mainly or 100% concentrated on institutionals😀

Donn K:
Here is an image for the roadmap for those interested.

it is focused on them but it is open for permissionless usage

so anyone can use it. and its cheaper than Ren to mint your BTCpx

there is no ETH Gas fees required

D. | Satoshi Club:
As i know Ren also works with other assets and allows to use those in DeFi like Zec and Doge – renZec/renDoge. do you also have plans to do something similar or you focusing only on BTC?

Donn K:
At this moment in time we are going to be focused on bridging bitcoin only

D. | Satoshi Club:
Gotcha 👍

Donn K:
Bitcoin is 50% of the market so we think that is large enough.

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

Donn K:
Yes

Q2 from Telegram user @orlemys
You’ve said that confirmation of Bitcoin blocks onto an Ethereum smart contract using a Matic side-chain makes Proxy the cost-effective choice. This is quite a complicated statement for crypto newbies, like myself. So would you please explain this process in simple detail? As I know Ethereum fees are extremely high, so I’m really curious to know how making use of it would have as a result, gasless transactions. What is the exact function of the Matic side chain in this context? Why don’t all projects make use of similar strategies? How safe is it?

Donn K:
This is an Layer 2 project where we are putting all the information from the Bitcoin Blocks onto Matic instead of ETH because it would be incredibly expensive to do so.

each time your push data to ETH it has a cost so putting that on matic made sense

Since Matic and ETH contracts are synced, only when we need to push data to the ETH chain do we do so and that is the only part of the transaction that requires gas.

Not all projects will use the same strategy because you have to weigh the cost benefits of the implementation of that L2. Does it save costs is the real question and each use case has to be weighed. 👍

Mary | Satoshi Club:
What is the minimum/max amount of BTCpx a user can mint?

Donn K:
About $100 worth.

Mary | Satoshi Club:
Oh, it’s ok and acceptable for anyone 😀

Donn K:
It’s permissionless so anyone can use it.

D. | Satoshi Club:
So you think Matic is the best L2 solution? are you looking into Optimism or any other L2 solution which will be launched in the future?

Donn K:
The system is already built and we started over 10 months ago.

and Matic was the best option

at that time

D. | Satoshi Club:
Yes they are know what they doing 😊

Mary | Satoshi Club:
Thank you for your answers, Donn! Do you want to add something or we can go to the next question?🚀

Donn K:
They knew that ETH needed an L2 back in 2018

incredible job and very good support from that team

pls go ahead

D. | Satoshi Club:
🚀🚀🚀🚀

Mary | Satoshi Club:
They saw future 😀

Q3 from Telegram user @JesusFre1tes
I read that BTC Proxy has Commercial Crime Insurance to further protect its clients’ assets, with insurance coverage arranged by Aon through a selection of international insurers. What have been the strategic advantages of using Aon for such an important purpose as securing a decentralized platform? Which international insurers are part of the comprehensive crime insurance that BTC Proxy has implemented to prevent the theft of digital assets?

Donn K:
So just to be clear BTC Proxy is not the one that is insured.

It is the funds that are held through the custodian that are insured.

Assets placed into custody with Hex Trust are covered by AON insurance for Crime and Inclusions. You can read more about it on the Hextrust.com website.

The strategic advantage is that for certain institutions and users they do not or cannot sell their Bitcoin. So instead they are staking it into custody instead of selling it or swapping it.

Selling it or swapping it with a CEX has some counterparty risk and then swapping it for another token can result in slippage. So minting an equivalent is an option that has insured counterparty risk and no slippage reduces the risk 👍

Mary | Satoshi Club:
Does it add additional expenses for those who are using this?

Donn K:
There are small fees to mint and redeem.

.1% to mint and .3% to redeem – this is due to costs associated with insurance and custody.

But it is these fees that we earn that are shared with the stakers of PRXY.

Mary | Satoshi Club:
Really small😀

Donn K:
So PRXY stakers will earn a portion of these fees.

D. | Satoshi Club:
Nice profit for them 👍

Mary | Satoshi Club:
Excellent!

Donn, thank you for your answers! Ready to go to the next question?🎉

Donn K:
And that fee is in Bitcoin 🙂

Sure let’s go

Q4 from Telegram User @Jmagsss
In order to earn $PRXY one must mint first $BTCpx token by swapping it by Bitcoin. Let’s say that all the Bitcoin in the world were minted and swapped for $BTCpx, how would the supply of $PRXY token comprehend that scenario. Can its supply coordinate with the supply of Bitcoin itself? Can you tell us more about your token economy?

Donn K:
The max supply of PRXY is limited to 21M exactly the same as BTC. The two tokens are related but the existence of BTCpx will not have a bearing on PRXY.

Some of the supply of PRXY is controlled by the foundation and given as a reward for using BTCpx. We would have do some calculations and determine how much PRXY would have be issued for a reward on an case by case basis.

Mary | Satoshi Club:
Could you tell us more about PRXY tokenomics?😀

Donn K:
The only thing that would happen is that so much in fees would be earned.

That it would drive up the price of PRXY.

D. | Satoshi Club:
The supply of PRXY will be always limited to 21mil? or is it possible to change it through governance voting?

Donn K:
So the max supply of 21M of PRXY will be mined over 2 years.

There is only about 10% of that currently mined and only about 470K in circulation.

So we aim to keep the circulation low in the beginning until we see real usage and adoption.

Mary | Satoshi Club:
Ohhh, that’s what we love😀 small circulation supply

Wise decision!

Donn K:
That is why we just rolled out staking so that it would further limit circulating supply.

1/2 of the prxy that is mined is going to be offered as rewards to BTCpx users.

And incentivize them to use our protocol instead of the competitors.

We will open a swap shortly.

For Renbtc and wbtc holders to swap it for BTCpx and reward that swap with some PRXY.

D. | Satoshi Club:
Smart move 😉

Donn K:
Yeah there is over 11B in tokenized BTC in the market so the liquidity is out there.

D. | Satoshi Club:
👍 @donnkim big thank you for the great answers! ready to move onto the next question?

Donn K:
Yes.

Q5 from Telegram user @Arisabela
Can you tell us the characteristics of the cold and frozen wallets implemented on your ecosystem? I saw there will be needed to request a withdrawal that must be authorized in order to transfer funds from these wallets, can you tell us if this is an automated process? What chances will the users have to get a negative response?

Donn K:
Well the two wallets are separated.

Both wallets require multisig and at least 2 users to approve withdrawals.

We allocate a certain portion to the hotwallet for redemptions for that day.

And under a certain threshold there are no approvals necessary as it is rule based.

So if a user gets a negative response it is because the hotwallet has to be replenished.

Or it is over the threshold.

But all transactions are stored so we can deal with any negative responses👍

Mary | Satoshi Club:
How long it usually takes to replenish hotwallet? 24 hours? And how often you give negative response?😃 I mean – is it common or unusual situation?

D. | Satoshi Club:
In this case how much user have to wait to get a positive response and be able to withdraw funds?

Donn K:
We have a system where we replenish the hotwallet once a day.

Positive response is immediate.

And confirmed on Eth/matic.

As well as BTC.

It is a coordination of all three chains.

Mary | Satoshi Club:
Thank you for your answers! Are you ready for the 6th and last question from this part?😃

Donn K:
Yes.

Q6 from Telegram user @h1drX
It is true that the centralized exchanges and systems exponentially increase counterparty risk of theft or loss and an inefficient transfer of value resulting in price slippage. But this decentralized bridge called Proxy Relay Protocol is not also vulnerable to attacks or even operational deficiencies? Can Proxy BTC guarantee total security of the system?

Donn K:
Well let me start by saying no system is 100% risk free.

But there some systems are safer than others – especially those that use multisig.

Centralized exchanges are not regulated so of course they are exposed to more counterparty risk. Think of IDAX think of MT Gox and all the rug pulls from these small exchanges.

Decentralization helps to solve this but currently the biggest vulnerability at the moment are these CROSS CHAIN bridges.

D. | Satoshi Club:
Right.

Donn K:
We just saw the 600M hack on Poly Network that was a cross chain bridge.

BTC Proxy does not use pure decentralization for the matter because storing BTC on one of these bridges is extremely risky.

Mary | Satoshi Club:
Yes, one of the biggest hacks ever.

Donn K:
It is much safer to place it into a regulated and insured custodian.

No system is 100% safe but we believe BTC Proxy to be an extremely safe protocol because the BTC is completely out of reach. 👍

Mary | Satoshi Club:
And of course you passed audit, right?😃

Donn K:
Of course.

I will post link to it later.

Quillhash was the auditor.

Mary | Satoshi Club:
Great choice!

Donn, i like our conversation very much, but i feel that something exciting is coming 😂

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Korryl
May i know what are the reason of using BtcProxy for your project name ? any special meaning behind this name ?

Donn K:
Ill answer this easy one. Proxy was chosen because proxy means representative and BTCpx is a representative of BTC on a different chain.

Q2 from Telegram user @ethcypherpunk
Do you have plans to create pairs of BTCpx / with other tokens such as WBTC or renBTC with concentrated liquidity models to facilitate and incentivize liquidity? something like BTCpx / WBTC / renBTC pair in Curve.

Donn K:
We will create pairs of BTCpx with Ren and Wbtc and possibly a 3rd pair in CRV to establish peg.

But the benefit to these pools is there is no impermanent loss.

Q3 from Telegram user @Ble73
Where can we currently buy your tokens and where have they been listed so far?. And please share all social media handles we can get adequate information on this projecg.

Donn K:
You can buy PRXY right now on uniswap https://app.uniswap.org/#/swap?inputCurrency=ETH&outputCurrency=0x22acaee85ddb83a3a33b7f0928a0e2c3bfdb6a4f
The socials can be found on our telegram group https://t.me/BTC_Proxy

Q4 from Telegram user @surendra040
You mentioned earlier minimum 100$ worth BTCpx can be minted. Do you have any guide for a new beginner like me to participate on it?

Donn K:
Yes you can find all information and instructions on how to use the platform at docs.btcpx.io

Q5 from Telegram user @Kathdm
Since the July 30th launch the $PRXY token has fluctuated in value from as high as $55 to as low as $15. This is still 10x from the private sale price. What was your perspective on the launch of the $PRXY token? I read that after the listing on Uniswap what followed was a 25X from $2 to over $55 in 12 hours and the 1spot on Dextools for multiple days. Did you expect that explosive interest that the community had in PRXY? After launching , what have you been focusing on?

Donn K:
We cannot unfortunately comment on the price as that is out of our control but what I can say is that the price action on Day 1 proved that the protocol has value equivalent and exceeding that of Ren.

Q6 from Telegram user @Nonerlike
I want to know more about your platform roadmap ahead and what are your achievements made till now? Do you have any partnership and collaboration made ?

Donn K:
Yes we have great collaboration with many partners.

Q7 from Telegram user Jorge
There are rumors of being listed in a top 5 CEX soon, can you confirm exchange and date?

Donn K:
Many people have been asking about our CEX exchange listing and as of now we are talking to multiple exchanges but none have been confirmed. CEX exchange listing takes a long time because that process is very centralized but we anticipate that we will be on shortly.

Q8 from Telegram user @captainprice111
What is the function of $PRXY other than as a governance token? Why should I hold $PRXY long term?

Donn K:
The main function of $PRXY is to FARM BITCOIN at app.prxy.fi

Q9 from Telegram user @parmeet1
What do you think is your strongest advantage will keep your team ahead of the market? In contrast, what are your weaknesses?

What strategy does your project use to attract new users and investors and retain them for a long time?

Donn K:
We want to establish the market capture of Bitcoin Farming for PRXY and institutional Bridge to Defi these are our main values.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of BtcProxy. 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
BtcProxy Telegram community: https://t.me/BTC_Proxy
Twitter: https://twitter.com/BTC_proxy
Website: https://btcpx.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 BaconDao and our guest were @JoelDave97, @lyons800 and @virtualbacon. The AMA took place on the 10th of August.

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

Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with BaconDao. Today our guests are @JoelDave97 @lyons800 @virtualbacon.

Joel Davies | BaconDAO: Hey guys! glad to be here 🙂

Oisín | BaconDAO: A pleasure to be here!

Andrés M. | Satoshi Club: Welcome to our group @JoelDave97,@lyons800, @virtualbacon!

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club! We are very glad to be conducting AMA with BaconDao! 😁 How are you doing today guys? 😊

Joel Davies | BaconDAO: Very good thank you! Busy as always 🙂

Oisín | BaconDAO: Great, just busy finalising some things for our Launch🙂

Gold Rocket | Satoshi Club: Yes our century makes us hurry 😁

Oisín | BaconDAO: This is very true, we’re delighted to be here.

Andrés M. | Satoshi Club: We know, thanks for taking your time to share with us today 😁

Gold Rocket | Satoshi Club: Thanks for joining guys!

Joel Davies | BaconDAO: No worries! glad you guys could have us here 🙂

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

Andrés M. | Satoshi Club: Let’s begin with the AMA, please give us an introduction about you!

Oisín | BaconDAO: Sure! My first name is Oisin and I am the Operations & Community Lead for the BaconDAO.

Gold Rocket | Satoshi Club: Nice to meet you 🤗

Oisín | BaconDAO: I’ll do a quick intro for the whole team and let Joel do his own.

Joel Davies | BaconDAO: Sounds good @lyons800! So I got involved in crypto about 2 years ago and have been full invested ever since. I come from a marketing background so very happy to be doing all things marketing for BaconDAO 🙂

Gold Rocket | Satoshi Club: Great experience👍

Oisín | BaconDAO: To add some context on myself: I am primarily involved in business strategy, development and other back-end operations such as community etc. I have a lot of DAO experience and love working with the rest of the team to build the BaconDAO into the ultimate Content DAO.

So Dennis is of Course founder and face of BaconDAO – He’s an extremely well known influencer in the space and is also the lead developer for BaconDAO.

Then we have Josue who is our lead designer and media creator: he works on all the awesome designs we have ! And heavily involved in content creation too.

Next is Weatherboyy or Duncan: He is our Events and Community Lead: In charge of the smooth running of events etc. and also the front end community management.

Finally we have Wwoonka or Tezi: He is our lead technical analyst and the most active person currently in our discord!

Andrés M. | Satoshi Club: Amazing team behind a great project.

Gold Rocket | Satoshi Club: Are these all core team members? Is your team anonymous or public?

Oisín | BaconDAO: These are all core team members – our team is fully public and so are all of our socials.

Gold Rocket | Satoshi Club: It’s really works for your positive reputation.

Joel Davies | BaconDAO: Yes, so our team is fully public and can be found on our website. (https://bacondao.com/)

Gold Rocket | Satoshi Club: Thanks for sharing!

Andrés M. | Satoshi Club: So, what is the essence of BaconDAO and which products do you offer?

Oisín | BaconDAO: BaconDAO has a goal to become the go-to educational and research DAO. We offer a range of resources for members.

Of course to begin with, we have our fantastic community who consist of over 25k members, our contributors and moderators.

Ultimately as a DAO: Our community is extremely important; however, we have currently about 20 paid contributors in charge of producing top content in the space for research and educational purposes through different “channels” in discord.

Gold Rocket | Satoshi Club: Community is the lifeblood of the project, its engine. Doing it right, you can easily achieve success😊

Oisín | BaconDAO: I completely agree. We have a range of channels covering all sorts of topics (by our contributors) for our community to engage with and we have some fantastic contributions from the community.

All in all, without our community BaconDAO wouldn’t be where it’s at today!

Andrés M. | Satoshi Club: A big community, I’m excited to know more about your project!

Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

Oisín | BaconDAO: For sure, I will try to answer the question above in some more context as we go on 🙂

Andrés M. | Satoshi Club: Let’s begin!

Q1 from Telegram User @albertjaison:

Currently NFT is developing and becoming a new innovation in the Blockchain world. However, many Artists / Creators still don’t understand how to create NFT. How does BACON solve this problem? Do you have plans to educate about NFT to Artists outside of Non-Crypto?

Oisín | BaconDAO: Great question:

NFTs are of course extremely established already in the crypto space and are becoming more and more popular with new artists looking to expand into the blockchain space. At BaconDAO we have the ultimate resource for budding artists and that is our NFT chat and NFT educational program.

We currently employ and NFT contributor that is dedicated to answering nearly all questions that our users have in the NFT space. This is super useful for artists and we’ve already had loads of artists ask questions on different aspects of NFTs through this means.

Next, we have the NFT educational program that we will be releasing soon : This is designed to teach beginners in the crypto space(be it a small artist or just someone wanting to learn) all about NFTs, what they are, how to utilize them effectively, and much more!

We also have the BaconDAO NFT Launchpad that is in our roadmap. This aims to help bring artists and their collections to the market from start to finish.

Gold Rocket | Satoshi Club: Full construction 😁

Andrés M. | Satoshi Club: Great idea to increase the adoption 👏
The educational program will be free for everyone?

Joel Davies | BaconDAO: So, it is gated buy our NFT membership tiers. These NFTs can be farmed by staking $BACON on our website. The way we see it is that if members are unhappy with our products, they can simply unstake and get their money back.

Oisín | BaconDAO: https://hub.bacondao.com/t/bacondao-nft-tickets-and-membership-tiers/102

Gold Rocket | Satoshi Club: Thanks for your answers.

Andrés M. | Satoshi Club: It sounds perfect! Thanks for sharing it. Ready to proceed with the next question?🥳

Joel Davies | BaconDAO: Ready!

Oisín | BaconDAO: For sure!

Q2 from Telegram User @victorogb:

Out of a total supply of 200 million $BACON tokens, BaconDao has reserved a total of 2 million tokens to be airdropped to the initial team of contributors and long-term members, 26 million to be distributed in private sales and 4 million will be distributed in public sales. Since tokens are already allocated for sales, especially public sales, why has BaconDao also opted for the choice of airdrops, and what is the duration of this airdrop event, and with an allocation of only 4% of total supply to public sale, would such limited figures be sufficient enough for this event and how will BaconDao look to compensate early investors?

Oisín | BaconDAO: Early investors in the $BACON token are given the opportunity to invest at seed, and private sale prices in the project. This incentivizes their early commitment with vesting periods to ensure their long term commitment in the brand.

Airdrops are used to reward our long term members: For core team/contributors etc. The model is designed to both reward and ensure their continues to be a long term commitment through vested interest.

For community members – we airdropped tokens to those that had reached a certain level in our discord to show our appreciation for their participation and commitment.

The allocation of 4% to our public sale is a model we’ve decided was sufficient alongside help from our advisors, there is more available in liquidity afterwards.

Gold Rocket | Satoshi Club: Sounds fair enough.

Andrés M. | Satoshi Club: Discord is the unique way to join the airdrops?

Oisín | BaconDAO: Yes but the airdrop period is over now.

Joel Davies | BaconDAO: The airdrop period was for the members of the discord who were there from the start. We wanted to reward those community members for helping us build BaconDAO.

Andrés M. | Satoshi Club: Thanks for clarify it 😃 Btw, talking about long term holders, which other benefits do you offer for them?

Oisín | BaconDAO: Long term holders of BACON can benefit through staking their BACON in our farm dashboard. They can earn rewards from these farms and by staking a certain amount they can achieve the higher membership tiers.

Andrés M. | Satoshi Club: Well done, community is the pillar of the projects.

Gold Rocket | Satoshi Club: Could you tell us more about your tokenomics?

Oisín | BaconDAO: What exactly would you like to know?

Joel Davies | BaconDAO: So for more details on our tokenomics you can see that here: https://drive.google.com/file/d/1DcfXeXFk38WWkcnkNO9S_XW-phjAswba/view

Gold Rocket | Satoshi Club: Thanks for sharing! This is exactly what I wanted to clarify 😁

Oisín | BaconDAO: Ah I understand, I can answer any other questions you have on these in more depth.

These membership tiers are designed to rewards long term holders by providing things like extra gem analysis and access to more alpha content, membership services and even a BaconDAO investment fund through enzyme.fi or a similar one.

Gold Rocket | Satoshi Club: I think this is a unique system 👍

Oisín | BaconDAO: Yes it’s the first of its kind! Long term members can earn rewards while also achieving some top level services from our team of contributors!! Something we’re quite proud of 🙂

Andrés M. | Satoshi Club: Thank for the clear answers, I think the question has been covered correctly.

Gold Rocket | Satoshi Club: Thanks for your answers guys 😊

Andrés M. | Satoshi Club: Let’s proceed with the next one, or do you want to add something else?

Oisín | BaconDAO: I think we covered everything 🙂

Joel Davies | BaconDAO: Yes, I’d just like to add that the initial airdrop is not the only rewards we will be giving out to the community. We also have a $BACON earn system where members can earn Bacon for providing value to the community. More details about this system can be found here: https://hub.bacondao.com/t/earn-bacon-with-bacondao

Andrés M. | Satoshi Club: Great info, more opportunities for our community to join 😁

Joel Davies | BaconDAO: Exactly! 🙂

Oisín | BaconDAO: I would love to add some more context on this in further questions.

Gold Rocket | Satoshi Club: Feel free 😉

Andrés M. | Satoshi Club: Thank you so much, let’s proceed!

Q3 from Telegram User @yellowchamp:

One of the Token benefits of $BACON token is MENTORSHIP SERVICE in which $BACON is the native currency within BaconDAO to pay for mentorships and 1-on-1 access to VirtualBacon and contributors. So, can you explain more about the Mentorship Service that your platform is offering to $BACON holders? What are the inclusion of this Mentorship services that BaconDao offer? How does this mentorship services works? Is there any minimum amount to hold to avail this mentorship services? How $BACON holders can access to VirtualBacon? Can you explain what are the services offered with this VirtualBacon? How does this VirtualBacon being executed in your platform? Thank you.

Oisín | BaconDAO: Yes so as we pointed out above, we have three tiers Purple, Gold and Platinum.

We are always trying to provide these tiers with as much value as we can and one of these ways is through the mentorship service you pointed out.

This service will give members holding the platinum status access to not just virtual bacon, but also all of our paid contributors!

The platinum tier is available to those who stake and farm $3000 worth of Bacon.

This is amazing value as the user can stake this and earn rewards, then unstake at any stage!

Ultimately, there is actually no direct cost associated with accessing these tiers, only the requirement to stake and hold our token – unlike many other services at this level.

Joel Davies | BaconDAO: Yes and as we have contributors who are experts in all aspects of crypto, members can learn from the best in any niche! Wether that be NFT, BSC, Polygon or if they simply want a 1 on 1 session learning TA.

Andrés M. | Satoshi Club: Completely agree, that’s amazing. So, please tell us how is the process to buy $BACON tokens?

Oisín | BaconDAO: Currently the process to obtain BACON tokens can be done in a few ways.

We obviously plan to launch very soon so users can get bacon token through achieving the whitelist status for the launchpad we will be launching on.

After that, users have the ability to purchase through Uniswap, PancakeSwap and a centralised exchnage yet to be announced. We will have liquidity on each!

This leads me back to the membership rewards that I wanted to follow up on above!

Andrés M. | Satoshi Club: Thanks for the information, would you like to add something before the next question?

Gold Rocket | Satoshi Club: Thanks for great answers 😌

Joel Davies | BaconDAO: Yes, @lyons800 wants to add something quickly 🙂

Gold Rocket | Satoshi Club: Take your time!

Joel Davies | BaconDAO: Thank you!

Gold Rocket | Satoshi Club: This is your stage today! You are our super stars 😁😍

Joel Davies | BaconDAO: We really appreciate it!

Oisín | BaconDAO: We run a unique member rewards program in BaconDAO that gives members the opportunity to Earn $BACON token rewards!

Theres a few different ways of getting these rewards:

Research: Users can produce research and if it meets criteria, the researcher will be tipped for their efforts! This can be a large research paper on something blockchain or crypto related or just some smaller Gem research. We have a structure to tip our members accordingly.

Education and contributions: We also have a tipping budget for general contributions and educational contributions made by our members to incentivise the creation of educational content and courses as well as good quality community engagement!

Gold Rocket | Satoshi Club: Great opportunity👏

Andrés M. | Satoshi Club: Let’s join Satoshiclubbers, a great opportunity to earn tokens!

Oisín | BaconDAO: For sure , any substantial quality contributions are always recognised!

Joel Davies | BaconDAO: To join, our main community is in discord. Join that here: discord.gg/bacon

Andrés M. | Satoshi Club: Thanks, time to go with the 4th question.

Q4 from Telegram User @JesusFre1tes:

BaconDAO connects blockchain startups with smart money and helps cultivate a passionate and knowledgeable community through education. This has definitely caught my attention, as even though decentralized finance is gaining more adoption every day, we have yet to make an impact on a global level. So, could you tell us more about how this education model that BaconDAO offers works to conquer more and more users passionate or not to DeFi projects? What impact have your protocols had on the different projects you have incubated so far?

Joel Davies | BaconDAO: Love it! ❤️ @lyons800 will answer this next question 🙂

Andrés M. | Satoshi Club: Sure, take your time 💪

Oisín | BaconDAO: I agree, this is a topic that is defintely needs to be hightlighted!

The educational and research model of BaconDAO aims to utilize our community and teams of dedicated researchers to create this knowledge base and research surrounding all kinds of blockchain and defi ideas. Our goal is to use our community and DAO to take this to the next level in a way that a traditional organisation cannot.

From a community perspective, our members that will help with research like this are often not only extremely knowledgeable in the area but more importantly, very interested in creating solutions to these modern day problems we face using blockchain technology.

We haven’t currently incubated projects yet – this is something that is planned in our roadmap.

We actually are using mirror.xyz to enhance our research model and do so in the most decentralised way possible allowing these projects to fund research through mirror.

Gold Rocket | Satoshi Club: What conditions do projects need to fulfill?

Oisín | BaconDAO: For incubation or research?

Andrés M. | Satoshi Club: Both 😃

Oisín | BaconDAO: For incubation:

We currently have planned to incubate projects specifically related to NFTs only through our NFT launchpad in the future – this is further along in our roadmap and criteria has not yet been fully defined as we are currently trying to focus our efforts on building out our education and research.

However, as we are a DAO, projects that approach us for incubation will have to go through extensive research from our DAO team followed by the ultimate decision being made by our DAO members through a voting process.

For Research:

Projects that are interested in BaconDAO for research purposes can approach us in a number of ways. The most efficient way being through a DAO Research Proposal through our Discourse. This research proposal again will go through our DAO members approval and must pass a voting process.

This project can then either fund the research through mirror which allows us to split the funding between our researchers and the DAO treasury!

Andrés M. | Satoshi Club: Got it, great details about an important topic 👏

Gold Rocket | Satoshi Club: By the way, guys, I’m pleasantly surprised by the amount and quality of information in your medium. It’s very orderly.

Oisín | BaconDAO: Thank you very much, let me also link our discourse where we are trying to produce most of our content now as the community can be more involved and it’s more decentralized !

Gold Rocket | Satoshi Club: Of course!

Check out our links below to learn more:

• Discord (https://discord.gg/bacon)
• Medium (https://medium.com/virtualbacon-dao)
• Twitter (https://twitter.com/BaconDAO_)
• Youtube(https://www.youtube.com/channel/UCVU0uNfJbHkodOvUmYNsEJQ)

Andrés M. | Satoshi Club: Btw, the 5th question is ready to be posted when you want 😁

Oisín | BaconDAO: Ready when you are!

Q5 from Telegram User @Olu_Makanaky:

In the process of participating in a Launchpad, it was stated that user should Lock an amount of Bacon Tokens in the Bacon Stake as liquidity pool staking (Bacon/ETH), follow by creating an account on the Launchpad of Bacon con and Connect a desirable wallet. How can we connect to the Bacon page using the address of the wallet that is used in the Stake? Presently, what is the minimum amount of bacon tokens we can lock, and the ratio of bacon to ETH? And concerning the BaconDAO Educational Curriculum which its Course includes: Crypto basics, TA, How to use exchange and DEX, types of coins, BSC vs ETH, What are NFTs, etc. Apart from bacon holders, can newbie also access this content? If yes, what are the steps to take and the amount of fee to be paid?

Oisín | BaconDAO: Launchpad Access: This can be done through the smart contracts we utilize for our BaconDAO farm – staking x amount can grant the ability to redeem an NFT required for access, however this process has not yet been fully defined as it for future development in our roadmap.

Concerning the Educational Curriculum: newbies can also access the content without staking bacon tokens.

This is done through a monthly membership process which requires users to pay around $40 per month to obtain the purple membership status.

This will all be native in our dashboard and done through crypto payment – eg. pay using an oracle or to a wallet address (Yet to be confirmed) and then the user will be granted the membership NFT which gates the content.

The NFT tiers we utilize in BaconDAO gate all of our content, whether it be discourse (through roles granted through apis), discord (through a bot that checks your wallet and grants access to channels) or our app.

Gold Rocket | Satoshi Club: Interesting concept 👍

Andrés M. | Satoshi Club: What is the APY for staking concept?

Oisín | BaconDAO: Yet to be determined but likely to be between 100-200% APY.

The concept involves a tradional yield farm concept, but implementing our (first of their kind) smart contracts that grant users the respective NFT based on their staking amount (Purple, Gold or Platinum).

Andrés M. | Satoshi Club: A big percentage, another great reason to invest🥳💪

Oisín | BaconDAO: Our discourse link: https://hub.bacondao.com/

Andrés M. | Satoshi Club: Thanks for share it, ready to proceed with the last question of this stage of the AMA?

Oisín | BaconDAO: Sure thing!

Q6 from Telegram User @Highpee:

BaconDAO will have a public research crowdfunding domain known as Mirror. You said Mirror will allow you to crowdfund, publish and split revenue from public research content. Can you explain how researchers can apply for crowdfunding or grants and how the BaconDAO uses mirror.xyz to validate proposals and get the community involved in the crowdfunding of such public research? Is accepted research limited to crypto-related subjects only or do you consider any topical issues as long as it can add values to human endeavours? How are the research results tokenised as NFTs after publication? And when findings from the research are sold as NFT, how are the revenues shared between research team and BaconDAO?

Gold Rocket | Satoshi Club: Was partially disclosed. Nevertheless, I think you have something to add 😊

Oisín | BaconDAO: So, for the application process for public research – this is done through a DAO public research proposal through our discourse which is then voted on by our members.

The validation is done through x amount of members upvoting the proposal idea.

The next stage is the research crowdfund – this is usually done in two ways

1. Project Proposal: If the research is proposed by a project, it would be common that the project funds a portion of that research – the rest by the community or BaconDAO.
2. Community member proposal: If this is passed, then the DAO will likely find the research aswell as the community .

Accepted research is related to projects within our knowledge scope – which are specifically blockchain or crypto currency related.

The way mirror works is by issuing an ERC-20 token weighted according to each respective contribution to the crowdfund. Eg: I contribute 10% of the funds required and I get allocated 10% of the ERC-20 issuance.

The research is tokenised and stored on the arwee blockchain.

Everytime this research is tipped or referenced – the tip is distributed amongst members that hold the ERC-20 ownership token in their wallets.

We are entering this weeks write-race with aims of getting our first publication – members who vote will share a $5000 prize pool of $BACON, so if anyone has votes they would be appreciated (and rewarded) 🙂

Gold Rocket | Satoshi Club: This is a very good prize pool 👍

Oisín | BaconDAO: We love to reward our members and contributors.

Joel Davies | BaconDAO: See our mirror.xyz announcement here to vote for us: https://hub.bacondao.com/t/bacondao-is-entering-the-mirror-write-race-support-us-to-win-bacon-tokens

Gold Rocket | Satoshi Club: Pay attention Satoshi Club 🚀

Andrés M. | Satoshi Club: And that’s makes 6/6 questions answered guys, thank you so much for your time, we know you’re busy with the project so we are honored to have you here.
Now is time to proceed with the live segment of the AMA 😁

Joel Davies | BaconDAO: And thank you! Looking forward to the live segment 🙂

Gold Rocket | Satoshi Club: Please share with Satoshi Clubbers useful links and information before opening the chat 😍

Joel Davies | BaconDAO:

• Discord: https://discord.gg/bacon
• BaconDAO hub: https://hub.bacondao.com/
• Twitter: https://twitter.com/bacondao_
• Website: https://bacondao.com/
• Vote for us on mirror.xyz: https://mirror.xyz/race?candidate=BaconDAO_

Gold Rocket | Satoshi Club: Great 👌

Andrés M. | Satoshi Club: Satoshiclubbers, let’s be part of that incredible Bacon Family 😁

Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA 🚀 Live questions 🚀🚀🚀

Joel Davies | BaconDAO: Yes everyone is welcome!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @munishgmr:

What Topics will be included in the Educational Academy ?
There are many types of Contents Like Recorded Video type, Pdf, live . . .etc.
How will you provide different contents to users?

Joel Davies | BaconDAO: There will be multiple topics included in the educational academy. From Crypto-101 (beginners course) to TA lessons and even more specific course on how to use BSC or Polygon.
The courses will be posted on our hub in article form, videos and even live calls in the discord server. So please join our discord and go check out the BaconDAO hub: discord.gg/bacon.

Q2 from Telegram user @iam12312:

It’s very exciting to see such useful projects, how is this educational academy different than a traditional education academy?
Is there any plan to collaborate with any crypto field companies?

Oisín | BaconDAO: Great question: Our educational academy aims to tailor & develop content wanted by and designed by the community.

A traditional educational academy determines curriculums and learning items for the user.

Our goal is to allow users to vote on various topics they see value in learning – this is done really well in our DAO format as we gain such a huge amount of feedback, insight ideas.

We also differ from a traditional academy in that users can actually create educational content and get rewarded for doing so if it is useful. This is determined and voted on by the rest of our DAO.

Q3 from Telegram user @Kathdm:

I have read that there are private channels in the BaconDAO community. How can we gain access to those channels? Why are there private channels different from the public channels of the community? Is there exclusive content shared on those private channels?

Oisín | BaconDAO: Yes, there is lots of exclusive and gated content in the BaconDAO community – the reason we chose this model was so that we can scale further and produce more exclusive and advanced content for our members, the monthly membership helps us do this as we pay many of our contributors to produce research and education.

The exclusive content that is shared includes top crypto gem picks and research on different projects, insights to the invesments the team make etc(for educational purposes), mentorship for education and research, in-depth daily btc analysis and discussions, and many more awesome services.

By joining our discord you can see which channels will be locked upon launch (all purple, gold and platinum categories).

At the moment everything is open so people can see the quality of our content!

Q4 from Telegram user @meml97:

I think that what BaconDAO is trying to do here is amazing, we don’t see every day projects that are willing to help others to learn about this complex world, but as I was reading about all the educational aspects BaconDAO is trying to cover, from courses to Mentorship and P2P Help Services, I couldn’t help but wonder; who will be behind this teaching and mentorship roles? How do you know someone is qualify to teach or mentor someone else? Also, can regular BaconDAO users become mentors to others? If so, how is the process for that? What kind of information do you ask for in order to accept someone on a teaching role on BaconDAO and how do you make sure that this certain information is indeed real?

Joel Davies | BaconDAO: Thanks for the question! So each contributor goes through a vetting process currently by the core BaconDAO team. We interview each contributor to see if they are qualified enough. And those contributors or the core team will be the ones who teach our courses.

Regular members can become contributors! If we see a particular member providing value in the community through answering questions or posting community research on the hub etc, we might select them to become an official contributor!

Q5 from Telegram user @boradam:

Can I earn NFT’s while staking $BACON tokens and what APR’s are there?

Joel Davies | BaconDAO: Yes! When you stake enough bacon tokens in our farm, that grants you a membership NFT. These NFT will become collectables in the future and have potential to provide additional benefits. The APY will be 100-200% 🙂

Q6 from Telegram user @Xusuo:

Can you explain what is the special and unique feature that Bacon Dao has and other competitors don’t? What feature are possible to attract investor or user into your project?

Oisín | BaconDAO: BaconDAOs special feature is our Community!

We have one of the most organic and committed communities in the crypto space ( Like Satoshi Club).

The way this sets us a part is we have constant research and content from our community (whether it be from paid contributors or normal members).

This research has helped our community to grow in the crypto space (financially and knowledge based – check out our testemonials in discord).

We try our best to only produce great projects for our members and never like to promote or shill projects.
The feature that attracts investors to our project is exactly the above.

Adding to the above is our BaconDAO $EARN initiative or BaconDAO Member rewards – the ability for members to earn $BACON by interating with our ecosystem and providing quality content whether it be research or education or just good community engagement.

Q7 from Telegram user @ItsMelissa3:

I read on your website that we can subscribe to your Daily Digest, which contains Crypto Daily analysis, Market Analysis, Altcoin Gems, Project Reviews, and other opportunities. How can we subscribe? Do we have to pay the registration? Do we have to pay monthly? Or is it completely free?

Joel Davies | BaconDAO: So the Daily Digest will be our free newsletter and it acts as a taster to what BaconDAO offers. It includes BTC and BTC.D analysis along with other crypto news. There will also be insider reports and this is where the true gems are shared. This insider report will include a more detailed daily analysis and market update along with the most recent gems our contributors are researching. This in itself is a very valuable aspect of BaconDAO.

Q8 from Telegram user @victorogb:

With a mission of helping it’s community of investors learn and profit in the crypto world, how would prospective members of your community get to enjoy and benefit from such services and how can users access these financial materials?

Joel Davies | BaconDAO: Thanks for the question! By joining the BaconDAO discord, it’s worth noting that as our token has not launched yet, the Discord and hub is open to the public. So please check it out while its open!

Q9 from Telegram user @adaatalay:

How can community members participate in the BaconDAO Member Award? How is the winner selected?

Oisín | BaconDAO: These member rewards are decided through a community voting process and/or selection by team members.

If a community member produces really good content (education/research etc.) in our hub, they are voted on by the rest of the community. If the content surpasses a certain threshold, the content is rewarded.

Majority of the rewards will go through a selection process – we currently have 20+ paid contributors and mods in the chats every single day – these contributors are there to notice and notify the team of content they see as deserving of rewards or tips.

Q10 from Telegram user @BJosefina61:

What blockchains does BaconDao involve? Is this in essence a multi chain DAO? Can you explain this point better?

Joel Davies | BaconDAO: The $BACON token will be on both ETH and BSC! While our farm and NFT’s will be based on ETH. If you buy BACON on pancake swap and want to become a member, you will need to use a bridge (yet to be announced) to go over to ETH and then you can stake your BACON for the membership!

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 – https://t.me/BaconDAO
Medium – https://medium.com/bacondao
WebSite – https://bacondao.com/
Twitter – https://twitter.com/BaconDAO_

We were delighted to welcome our guest from Brokoli. The AMA took place on August 6th, 2021 and our guest was @blackcitrus!

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

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

Paul Mont | Satoshi Club: Today’s guest is @blackcitrus! Welcome! Great to have you here!😁

Haroldas | brokoli.network: Hey guys! Pleasure to be here

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club🥦

Paul Mont | Satoshi Club: Thank you very much for coming! We’re super excited to know more about Brokoli and everything your team has in store for us 😉🔥

Gold Rocket | Satoshi Club: How are you doing ☺️

Haroldas | brokoli.network: The team actually has quite a lot in store for you

SHO —

Brokoli

Brokoli is the first planet-saving DeFi platform that allows users to act on climate. The project has three interconnected parts that all serve a single purpose: to rapidly grow Brokoli’s user base and offset DeFi’s carbon footprint.

Research Page: Coming Soon

A. Community Round is Live

Join project socials and complete the form to be a part of the community round. There will be 50 winners of $100 allocations.

FILL: https://forms.gle/W7PTct1ckuhtNYbQA

B. Merit Round

More details will be announced soon!

Socials:

Twitter: https://twitter.com/BrokoliNetwork

Chat: https://t.me/brokolinetwork

Website: brokoli.network

We have just announced our SHO on DAO Maker

and you guys

are the first to hear about it

Paul Mont | Satoshi Club: Now that’s a way to start big with the AMA 🔝🔥🔥🔥

Haroldas | brokoli.network: all the best for Satoshi Club;)

Gold Rocket | Satoshi Club: Great news! 🤩 Congratulations 🎉

Paul Mont | Satoshi Club: Thank you very much for sharing… guys get your DAOs ready for Brokoli! 🥦🔥😉

Haroldas | brokoli.network: but that’s not all

We will also have a whitelisting campaign on our social media

Gold Rocket | Satoshi Club: intrigue

And you know the rules

DAO Maker is the top #1 launchpad

so if you don’t want to miss out

join our socials

and participate in the community whitelisting campaign

👉 Join Brokoli Telegram (https://t.me/brokolinetwork) group

👉 Follow Brokoli Twitter (https://twitter.com/BrokoliNetwork)

Paul Mont | Satoshi Club: I know I won’t and I definitely invite all the Satoshi Clubbers not to miss out either 🚀

Paul Mont | Satoshi Club:

Haha amazing stickers as well 😁👏👏

Gold Rocket | Satoshi Club: Thank you very much for this great news.👏👏👏

Gold Rocket | Satoshi Club: But according to the protocol, I am obliged to ask you some personal questions.  😁

Gold Rocket | Satoshi Club: Introduce yourself please. How did you get to be involved in crypto & Brokoli Network?

Tell us please about your position in Brokoli Network?

Haroldas | brokoli.network: Always a pleasure

I’m the Founder and CEO of Brokoli Network

I’ve worked with brands like Nike, Lavazza, Paypal, Venmo among others you might know.

Today, though, I’ll be presenting how we’re making the green movement happen in DeFi.

ESG markets have been the fastest growing across all VC-backed industries — but they’ve never come to DeFi. We changed that

I transitioned to crypto after having built an accelerator for sustainability companies

Gold Rocket | Satoshi Club: Very famous and familiar names. Great background for start your own business

Haroldas | brokoli.network: Together with my co-founder Matas, we built an accelerator that was providing funding + marketing for sustainability companies

After that, the DeFi summer happened

Paul Mont | Satoshi Club: I feel it’s great that a crypto project is finally addressing the issue head-on. It’s been quite the elephant in the room 🙂

Haroldas | brokoli.network: and I was advising startups on marketing

Which then naturally evolved into us founding Brokoli

Gold Rocket | Satoshi Club: I see you are in love with your project🥦

Paul Mont | Satoshi Club: I’m personally curious on why you picked the name Brokoli 🙂

Haroldas | brokoli.network: Hahaha

Well

Gold Rocket | Satoshi Club: It’s impossible to create a good project without a team.

Haroldas | brokoli.network: A broccoli looks like a tree

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

Haroldas | brokoli.network: Hence the name

The team now consists of 8 people

Paul Mont | Satoshi Club: That is true, and also you’ve managed to make it look cute as well in your infographics. Cudos to your designer 😉

Haroldas | brokoli.network: But there are 5 people at the core of this project

I lead the company

Matas, my co-founder, leads the sustainability front and onboard projects that are integrating Brokoli’s solutions

which is our second business case

Gold Rocket | Satoshi Club: Is your team anonymous? If so, do you plan to reveal your personalities over time?

Haroldas | brokoli.network: and although unnannounced, already is adopted by 20+ projects

The team is listed on brokoli.network

Then there is our CMO

Monika Poskute

she’s an ex-CMO at an ad-tech company with over 1.5B profiled users

and our CTO

who has been leading developer teams for the past few years

in Fintech and DeFi

Plus

Our wonderful head of design Saule

which makes sure that our product beats anything out there in terms of user experience

you can access our platform’s demo on the website

top right, button called Launch DEMO

you’ll love it 😉

https://brokoli.network

Paul Mont | Satoshi Club: I have to wholeheartedly agree, I like the website’s clean UI. A joy to interact with 😁

Gold Rocket | Satoshi Club: It’s really looks great 😃😍🥦Thanks for great introduction, we will have a questions selected for the Part 1. Ready to start?

Haroldas | brokoli.network: Yep

Q1 from Telegram User @DK177

Your project focuses on environment activities such as planting trees, renewable energy project financing and e-waste offsets. According to you roadmap, these activities have been planned for the previous quarter. Were you able to complete them successfully? Do you have plans to continue this work in the long run? During a pandemic situation, why did you choose this kind of theme? Don’t you think prevailing situation is not suitable to put these concepts in to practice? By the way, you are planning to launch green NFTs by Q4. What do you mean by the term, “green”? Generally speaking, using energy to mint NFTs has become a seriuos environmental issue. Do you have plans to introduce environment friendly NTFs?

Haroldas | brokoli.network: Before answering your questions, let me forward a video that best speaks about the project

To answer the first question, we have already onboarded projects in all three key areas: planting trees, renewable energy projects and e-waste recycling charities

Gold Rocket | Satoshi Club: Great video👌

Haroldas | brokoli.network: The key is that climate positivity funding is controlled by the community

Brokoli is the first in history, even outside of DeFi, that makes climate decisions available to the individual

In the long run, our aim is to make a permissionless system for climate positivity projects to onboard themselves

Our standalone platforms collects climate fees (at 0 extra cost for the user) that are then distributed by the community to these projects

This explains our first product, a green DEX aggregator

Gold Rocket | Satoshi Club: yes, this is a rather unusual solution

Haroldas | brokoli.network: Transparency and traceability are the core values of the project and that is exactly how we’re different from real-world charities or scam projects working on similar causes. Token holders will be able to track the impact of the platform as well as individual transactions. This will be shown in the real-time dashboard (see link below)👉

Brokoli is the first planet-saving DeFi platform that allows you to make climate action a part of every transaction.

The best part? There’s no additional cost for you to make positive climate impact.

Token holders get 100% control of fund distribution to climate offsets.

4/ pic.twitter.com/mv6wWBoeG2

— Brokoli Network™ – The Green DEX & AI 🌳 (@BrokoliNetwork) June 8, 2021

This will be complemented by constant updates from the construction sites or tree planting sites weekly based on the nature of the project to constantly remain full transparency.

Blockchain allows to track all of the on-chain transactions, so users will also be able to see where the collected funding went and if it actually reached the intended recipient

And the green NFTs

is what makes us a play-to-earn

so we merge DeFi with GameFi

you guys are again

the first to see this

This is how our green NFTs will look like

how this will work:

1. You use our DEX, lending, investment platform, yield farming layer -> you get X trees (based on climate fees collected from the use of those platforms)

2. You complete daily quests that get us organic marketing (e.g. reply to Elon’s tweet about Brokoli) -> you get X trees (based on verified completion of tasks);

3. You refer a friend ( -> you get X % of trees your referred friend gets during the 1st month of his platform use;

4. if you’re a verified influencer, you share news about Brokoli on Instagram, TikTok, etc -> you get X trees on influencer-exclusive daily tasks

->

You receive digital NFT trees as rewards and the trees are equivalents to real-world forests that we plant (ownership based on real world assets): you can navigate through our digital world and see your & other people’s forests, the size of those forests – you can compete and trade.

In a nutshell, your fractionalised NFT forests become an asset that you earn through completing tasks, which makes us a play-to-earn platform

Paul Mont | Satoshi Club: Ingenious and fantastic. I’m so wanna be part of the brokoli universe 😉

Haroldas | brokoli.network: NFT minting will be gassless

which is why they’re green

but much more than that

Gold Rocket | Satoshi Club: Great answer! I’m only afraid that you answered all the questions now 😅🙈

Haroldas | brokoli.network: the NFTs are pegged to real-world assets

Trees and forests

so the NFT’s value is not based on hype

it has real-world value

which can be traded at any time

so the community can interact

trade trees

collect forests

and show off their positive impact

this is my favourite

in the works

called the ‘flexer’

as seen by his chain

Gold Rocket | Satoshi Club: Btw feel free. I think you will have something to add to others our questions😁👍🥦

Paul Mont | Satoshi Club: Hahaha, great!

Haroldas | brokoli.network: he is the highest level of the tree lord

Paul Mont | Satoshi Club: So you’ll have avatars that evolve according to your contribution, right?

Haroldas | brokoli.network: All NFTs will be customizable

yes

you will be able to buy sneakers

haircuts

t-shirts

and much more

all to show your impact to the rest of the world

Paul Mont | Satoshi Club: Superb!🚀🚀🚀

You’ve thrown a lot of meat onto the fire, so let’s get onto the next question and flesh even more details, okay?

Haroldas | brokoli.network: this video explains the issue of sustainability and why without Brokoli, global DeFi adoption is literally impossible

and yes

let’s continue:)

Q2 from Telegram User @Kowshik22

It is very clear from ur naming like GREEN PAPER,GREEN DEX,GREEN INVESTMENT,GREEN YIELD FARMING,GREEN INTEGRATION,GREEN LENDING,GREEN NFTS that u r trying to provide a safe environment for users

Everything green,so does it mean there wouldn’t be any burns in ur project ?

So is there any green burn planned

I can see Brokoli’s fees are distributed via a token holder vote: 90% of the fees go to the planet, and 10% of the fees go back to the community.

Only two divisions are made from fees ,don’t y plan for burn, buyback or lottery !

So do you think 10% of the fees back to community is enough to attract more INVESTOR’S ?

Paul Mont | Satoshi Club: Let me say, your excitement, passion and energy about the project transpires so clearly, it’s just great! 😉

Haroldas | brokoli.network: Hahaha this is actually a good name for it

green burns

Gold Rocket | Satoshi Club: i like all your broccoli videos 🥦😁

Haroldas | brokoli.network: but yes, the token does have a burn included!

our monetization is 10%

these 10% are distributed to:

– token holders who participate in governance

– rewards for users of the platform

– LP rewards

– development

– token burn

These are the products that we get the monetization from

as you might know, Sushiswap nets a few millions in fees per day

So imagine the scenario that a DEX is just one of our products

Then we have yield farming, stakind, lending…

The whole NFT universe

and integrations adopted by already 20+ projects

Brokoli can become the top 10 organization in the world working on climate positivity

which places us in the conversation size compared to Bezos, Gates, Greenpeace

and makes us bigger than DeFi itself

Plus

since we touched the topic of tokens…

These are news that we have not announced yet

We’ve mentioned rewards for using our products

but we have not yet named what they’ll be

so stay tuned;)

you can always join the waitlist on our website brokoli.network

Paul Mont | Satoshi Club: Subscribed 😉

Paul Mont | Satoshi Club: Would you share your official tokenomics paper with Satoshi Club? 🙃

Haroldas | brokoli.network: the tokenomics are being nicely designed and will be put up on our website next week!

you know how Brokoli is from the visuals I’ve sent

everything has to be touched by our designer Saule to make it pop

But in regards to the tokenomics

there is one important aspect

Brokoli is one of the very few projects that closed its funding round WITHOUT VCs

This means that we’re in a stronger position in terms of the token

Because VCs tend to dump the token’s value down

We’re fully funded by other project founders that want to make DeFi climate positive

Which brings me to my next point that you are also first to hear….

Brokoli has successfully closed an oversubscribed private round of $1.65M

Apart from this community, we will not be releasing this announcement for the next week

Paul Mont | Satoshi Club: Amazing milestone! 🔝🔥🔝

Gold Rocket | Satoshi Club: Thank you very much for the clarification and detailed answers

Paul Mont | Satoshi Club: Congratulations, this already an amazing validation for a project that’s just starting out!

Gold Rocket | Satoshi Club: Ready for the next question😁🥦

Paul Mont | Satoshi Club: Next question is probing deeper on Brokoli’s referral system and more 😉

Paul Mont | Satoshi Club: Ready to answer it?

Haroldas | brokoli.network: Every question you’re getting something out of me that was only due to be announced next week!

let’s go

Gold Rocket | Satoshi Club: Satoshi Club loves hints very much 🤗🥦

Paul Mont | Satoshi Club: And we love that! Thank you so much for sharing! Satoshi Club loves previews, especially from a potentially amazing project like Brokoli! 🔥🔥🔥

Q3 from Telegram User @yellowchamp

I see on your Roadmap for the 1st quarter of 2022 that you will have a referral system in which you will be rewarding the referrer with $BRKL tokens and I also see that you will have a marketing campaign with climate and defi opinion leaders to spread awareness about the environmental impact of digital currencies. So,can you tell us more about the mechanics of your referral System in your platform? How many friends or colleagues we can bring in Brokoli network? If you reward referrer,how about the referral is there any reward for them as a new users in your platform? As you will have a marketing campaign with defi opinion leaders,can you tell us who will be this climate and Defi opinion leaders you will incorporate with your marketing campaign? In what way you will spread awareness about the environmental impact of digital currencies? Who will be your target market for this marketing campaign? Thank you

Haroldas | brokoli.network: the referral system ties into the whole play-to-earn complement of Brokoli’s ecosystem

how this works:

1. you use our DEX, lending, investment platform, yield farming layer -> you get X trees (based on climate fees collected from the use of those platforms)

2. you complete daily ‘quests’ that get us organic marketing (e.g. reply to Elon’s tweet about Brokoli) -> you get X trees (based on verified completion of tasks);

3. you refer a friend (Revolut referral model) -> you get X % of trees your referred friend gets during the 1st month of his platform use;

4. if you’re a verified influencer, you share news about Brokoli on Instagram, TikTok, etc -> you get X trees on influencer-exclusive daily tasks

people receive trees as rewards and the trees are equivalents to real-world forests that we plant (ownership based on real world assets)

you can navigate through our digital world and see your & other people’s forests, the size of those forests – you can compete and offer to buy them

our fractionalised NFT forests become an asset that you earn through completing tasks, which makes us a play-to-earn platform

and referrals is one of the ways that you can get the impact

because as you refer friends, you will be getting a share of their impact, and this share is represented by trees on your avatar

this avatar 😎

what’s in it for the user?

with referrals, you get trees (impact)

they can be bought by corporates (blockchain and real-world) and as everyone can see forest ownership by a corporate, it’s a marketing effect + ESG effect as owned forests are real (same like they buy space on sports teams cars/t-shirts to get eyeballs)

there is also the teamtrees.org model

a leaderboard of impact

made famous by Elon when he donated $1M

so competition, a leaderboard, inspires other users to buy your impact

so if you have a forest of 100 trees

you can sell it to the highest bidder

who will then climb up the ranks of the leaderboard

to become the biggest owner of forests, literally owning thousands of trees

Brokoli saves DeFi

and it saves the world too:)

but it’s not the company that is doing it

it is the users

you guys

everyone here today

Paul Mont | Satoshi Club: Can we assume that being high up in the leaderboard (e.g. top 20?) will entitle users to have more rewards?

Haroldas | brokoli.network: at no extra cost for you, you can plant trees with every DeFi transaction

you are correct indeed!

but let’s keep this a secret until the announcement rolls out:)

Paul Mont | Satoshi Club: Haha yes, you’ve already been supper kind to share so many secret goodies with us! 😉🙏

Would you share Brokoli’s current roadmap with Satoshi Club before moving onto the next question? 🙃

Haroldas | brokoli.network: most of the focus these days is on our upcoming IDO, both on DAO Maker and our website

In general, we’re running user tests on our products

we have a team of I believe 25 testers who are the first to see what we’re working on

by testing the product with the users, we can improve user experience to eventually make it the best that there is

some have called us the combination of coinmarketcap’s charts + uniswap because everything is in one place

we are admitting 5 users per week via our contests

Show us your #meme 😎

Follow @brokolinetwork on Twitter

Create memes related to #Brokoli Network

Post your submissions in the Twitter thread by tagging: @brokolinetwork #Brokoli $BRKL

📜Rules: bit.ly/37dyxUq

🗓️Duration: August 2nd – 12th

💰Prize pool: $2k BRKL

Read more: https://twitter.com/brokolinetwork/status/1422176397582274571?s=21

We will be taking in a few of the participants from the meme contest as well

If you go on our website, the demo is at the top right: brokoli.network

Gold Rocket | Satoshi Club: Thanks for your great answers!

Paul Mont | Satoshi Club: Another great initiative and opportunity not to miss!

Haroldas | brokoli.network:

some more visuals from our demo

on the bottom, you can see your historic impact

shown in trees planted, renewable energy produced and CO2 prevented

Paul Mont | Satoshi Club: Did I say I love the clean UI interfaces and slick dashboard? 😁

Haroldas | brokoli.network:

With every transfer, you will see the impact that you make in trees planted

and you can track it on our climate impact dashboard

this one I mentioned before: https://twitter.com/BrokoliNetwork/status/1402398527934894082

Paul Mont | Satoshi Club: Literally, change is in every user’s hands 😉

Haroldas | brokoli.network: With DAO Maker’s latest launches having respectively done 20X and 32X

you know what we’re up to

Gold Rocket | Satoshi Club: Sounds good👏

Paul Mont | Satoshi Club: Super exciting @blackcitrus!

Paul Mont | Satoshi Club: And now, we have question number 4 ready for you!

Q4 from Telegram User @victorogb

Brokoli is described as an ultimate sustainability layer of multi chain DeFi committed to reducing and further eliminating the environmental impact of cryptocurrency activities. Brokoli developed ways to solving this by merging DeFi and GameFi to incentivize users to make, own and trade their positive impact. This solution might look strange to an average user, therefore can you carefully explain how Brokoli properly implements this? Brokoli also states that any blockchain platforms (CEX or DEX) can seemlessly implement your API; how does Brokoli help with CEXs implementation, since the concerted efforts of your service has a primary DEX & DApp target, and how will Brokoli utilise the climate fee generated from these projects?

Haroldas | brokoli.network: Of course

let me dive deep into this

so there are two main business cases which are relevant for answering this question

1. Decentralised products such as our Green DEX, green dApps, NFTs, which generate climate fees

 2. Integrations into other projects with our API integration, that generate us revenue from the audience of other projects

1st option is the standalone platform

aggregators for DEXs, lending, yield farming, staking

The simplest explanation comes through our first product, the green DEX aggregator

This relies on the slippage mechanism

On DEXs, you have slippage, the average of which is set at 0.5% usually

by choosing this slippage, you agree to pay a fee that’s anywhere up to the 0.5% range — before getting the result of the transaction, you never know the final fee

so what we’re saying is, Brokoli connects to various DEXs to find the best price

which in itself minimizes price difference

and then the slippage you choose, is the fee you pay

in reality, on Uniswap, you might have paid the same fee

but because our router finds more efficient swap routes

the difference is collected as a climate fee

resulting in approximately the same fees for the user, but with climate positive impact in every transaction

which brings us to our business case

this platform will be massively attractive to users because of two reasons

1) user experience

but most importantly

2) purpose

which comes at basically no extra cost for the user

Social good + commerce with a purpose has always been the most lucrative opportunity.

#Bitcoin (https://twitter.com/hashtag/Bitcoin?src=hashtag_click) -> Decentralized

Apple -> Privacy

Tesla -> #Climate (https://twitter.com/hashtag/Climate?src=hashtag_click)

Positive impact =  +

Brokoli makes #DeFi (https://twitter.com/hashtag/DeFi?src=hashtag_click) climate clean & cost-efficient

a video review of Brokoli came out yesterday touching on this topic:

Thanks, @thecryptofomo, for introducing us to the world!

In his video you will learn:
🥦 What #Brokoli Network is
🥦 What are our goals
🥦 Who's on the team

Check it out here (4:44) ⤵️ https://t.co/TLjg4oIgjM

— Brokoli Network™ – The Green DEX & AI 🌳 (@BrokoliNetwork) August 6, 2021

And now, coming back to the integration for other projects

which is our second business case

Gold Rocket | Satoshi Club: Of course

Haroldas | brokoli.network: this comes from our pitch deck

For integrations, you might have seen this with flight companies

if you’re buying tickets for a flight, the flight company might suggest ‘Do you want to offset your carbon footprint for X dollars?”

if you click yes, it adds to the transaction total

The integration works similarly

it adds $1.5 worth of native tokens to the transaction to make it climate positive

Gold Rocket | Satoshi Club: I think this is a great feature

Haroldas | brokoli.network: but that’s for projects that are integrating Brokoli rather than the standalone platform

so this gives us insane brand awareness

the more projects integrate, the more Brokoli will be known

hence the more users will be going to the main product

where climate positivity comes at no extra cost

Integrations therefore have been created as our GTM

they’re one of the ways for our main product to acquaire users

Paul Mont | Satoshi Club: I totally love the idea that the crypto revolution can be simultaneously pave the way for the green revolution 😉

Haroldas | brokoli.network: that’s the goal

opening the door to a $44 trillion USD market

Paul Mont | Satoshi Club: And th need for change has never more felt than now!

Thank you very much for your exhaustive answer @blackcitrus !

Are you ready to take on the next community question?

Haroldas | brokoli.network: Let’s go

Q5 from Telegram User @Rotoxy

Brokoli has the plan to establish a “Brokoli Sustainability Council” whose duty will be to vet projects that are onboarded onto your platform. I also gather that they can suggest and introduce new projects into the platform. Can you explain to me how the composition of this council will be formed? Who is qualified to be among the council members, how many are they expected to be and for how long will they remain in this council? Also, since you said the aim of Brokoli is to give voice to users in matters of climatic decisions through governance rather than allowing it to be dictated by a few billionaires, don’t you think the function of vetting and proposals that is being delegated to the council should have been handled by users through DAO voting? Or are there limits to users governance decisions and participations?

Haroldas | brokoli.network: The Brokoli DAO is the one that will always be responsible for fund distribution

The Brokoli DAO can elect the sustainability council

which only serves a single purpose

to vet projects based on the required certification at the point of onboarding them on our platform:)

so this is the DAO-side of the sustainability council

there will also be a few hand-picked individuals in the early stages of the project

these individuals come from:

The EU Commission

WWF

and more

not yet announced;)

Haroldas | brokoli.network: until we fully transition to a DAO

Paul Mont | Satoshi Club: By the way, has Brokoli’s code put through initial technical audits yet or maybe they are taking place as we speak?🙃

Haroldas | brokoli.network: they are indeed taking place as we speak and will be safe and sound for our IDO and launch!:)

Paul Mont | Satoshi Club:

Great, great! Thank you very much! Next is the last question for this very first part of the AMA, then we’re heading into the LIVE part of the session!

Q5 from Telegram User @

It caught my attention that one of the features of Brokoli is “Digital Forest: Play-to-Earn NFTs for Planting Trees”, can you tell us more about this amazing feature? If they are Play-to-Earn NFTs will this Digital Forest be some kind of game? Where will users be able to find this NFTs and how many different NFTs will exist? Also, how will the “Planting Trees” part of this NFTs work? How many trees can we plant per NFT? Where will such trees be planted? Will Brokoli has it’s own lands to plant this trees or will it be anywhere in the world? Will you work with any specific charity or organisation in order to reach this goal?

Haroldas | brokoli.network: I’ve elaborated on this a bit but this question actually brings me an opportunity to discuss how the NFTs will be involved in our whitelisting campaign

Paul Mont | Satoshi Club: Please share it with us 😉

Haroldas | brokoli.network: So there will be a 50-100k community round on our website (apart from DAO Maker’s SHO)

and we’re making 10 unique NFTs just for this event

But to get the unique NFTs, you’ll have to do something

they will be split into a few parts

and those parts mixed with the parts of other NFTs from the group of the ten

so you will be collecting randomized NFTs as you participate in the whitelisting campaign, which you will be able to trade with other members of the community

and if you collect a few randomized NFTs that hold every part of one of the original 10 NFTs…

you get the original NFT

which then gives you the access to a significantly higher allocation in our whitelisting campaign

all I can say is

let the games begin:)

and join our socials to be the first to know about the launch of this campaign

https://t.me/brokolinetwork

Paul Mont | Satoshi Club: Sounds like treasure hunting! Love the concept! 👏👏👏

10 unique NFTs, so many initiatives you’ve got going on! And Satoshi Club has an exciting preview! Thank you @blackcitrus!! 🙏🔝

Now, let’s get back to the question from @meml97 😉

Haroldas | brokoli.network: one more NFT preview for you

Paul Mont | Satoshi Club: Is there anything else you would like to add in response to it?

Because next comes the mega storm of questions of the LIVE part and that’s something to LO and BEHOLD haha 🌪😁

Haroldas | brokoli.network: 1. you use our DEX, lending, investment platform, yield farming layer -> you get X trees (based on climate fees collected from the use of those platforms)

2. you complete daily ‘quests’ that get us organic marketing (e.g. reply to Elon’s tweet about Brokoli) -> you get X trees (based on verified completion of tasks);

you refer a friend (Revolut referral model) -> you get X % of trees your referred friend gets during the 1st month of his platform use;

if you’re a verified influencer, you share news about Brokoli on Instagram, TikTok, etc -> you get X trees on influencer-exclusive daily tasks

– >

people receive trees as rewards and the trees are equivalents to real-world forests that we plant (ownership based on real world assets): you can navigate through our digital world and see your & other people’s forests, the size of those forests – you can compete and offer to buy them

our fractionalised NFT forests become an asset that you earn through completing tasks, which makes us a play-to-earn platform

you earn these rewards and are represented as a Brokoli mascot character, which you can customize based on

– outfit,

– hairstyle,

– facial features

you buy those things on the market (our platform) for Brokoli tokens and everyone can see your character in the leaderboard and forest map

I’ve mentioned this but I believe every question needs to be answered in depth 😎

Paul Mont | Satoshi Club: No, you’ve been super detailed and thorough! Thank you very much @blackcitrus!

The time has come for the second and most impressive part of the AMA.

A flurry of question is about to be unleashed! 🌪 I hope you are you ready @blackcitrus 😁

Haroldas | brokoli.network: Hahaha we can only find out by doing

SHO: @BrokoliNetwork

Brokoli is the first planet-saving #DeFi platform that allows users to act on climate. The project has three interconnected parts that all serve a single purpose: to rapidly grow Brokoli's user base and offset DeFi's carbon footprint

More details soon!

1/2 pic.twitter.com/ttQYetZmjg

— DAO Maker (@daomaker) August 6, 2021

a reminder in the meantime

Gold Rocket | Satoshi Club: I have a little question for you

What criteria do you have in choosing influencers?

Haroldas | brokoli.network: two sides to answer this question

there are influencers that:

i) we choose

ii) they just talk about us

Gold Rocket | Satoshi Club: Do you already have someone?

Haroldas | brokoli.network: for the ones we choose, they’re vetted to work only on projects they would honestly use themselves

which means they are very selective

and work only with a handful of projects

yes:)

Gold Rocket | Satoshi Club: Sharing please😁

Haroldas | brokoli.network: for now I can only say that the DAO Maker only allows the top quality

Part 2 — live questions from the Telegram community

Q1 from Telegram User @vedamatrix

You just announced SHO on DAO Maker so how many DAO tokens do I need to participate it?

 Haroldas | brokoli.network: I believe this is one of the central questions that needs to be answered. There will be a community round not only on DAO Maker, but also ran on our socials. To be able to participate, you have to me a member of our telegram group https://t.me/brokolinetwork. The whitelisting campaign will be based on the rules that we will announce on our socials. To get news on this, join:
1) the waitlist on brokoli.network
2) our telegram chat https://t.me/brokolinetwork
3) our announcement channel https://t.me/BRKLnews
🚨🚨🚨 The total of the whitelisting campaign will be 50-100K 🚨🚨🚨
So you will all have plenty of space to participate:)

Q2 from Telegram User

Haroldas | brokoli.network: The private round is closing today ($1.65M raised). The public round is distributed on:
– DAO Maker SHO
– Gate.io IEO
– Our social networks whitelisting campaign

Q3 from Telegram User @Rakshitx5

Why you have named your project Brokoli? Do you believe your product will make the defi ecosystem healthy?

Haroldas | brokoli.network: Because Brokoli is healthy for you and so is the $BRKL token, haha

Q4 from Telegram User

Haroldas | brokoli.network: 2 main sources of revenue, which we built to be resilient as they represent both B2C and B2B audiences:  1. Decentralised products such as our Green DEX, green dApps, NFTs, which generate climate fees 2. Integrations into other projects with our API integration, that generate us revenue from the audience of other projects

Q5 from Telegram User @orlemys

Many projects claim many things, but don’t provide the evidence. As you are a green project, in which ways will you let the community know about the real-time impact of Brokoli? I mean, is your project carbon zero? Or is it still contaminating, but at a lesser scale? Will you offer investors real-time tracking of your carbon footprint? Further, other than plating trees, and charities, what are some of the real-life solutions you will bring? And what is the percentage of damage you will be alleviating for each transaction?

Haroldas | brokoli.network: Transparency and traceability are the core values of the project and that is exactly how we’re different from real-world charities or shitcoin scam projects working on similar causes. Token holders will be able to track the impact of the platform as well as individual transactions. This will be shown in the real-time dashboard (see link below):
https://twitter.com/BrokoliNetwork/status/1402398527934894082
This will be complemented by constant updates from the construction sites or tree planting sites weekly based on the nature of the project to constantly remain full transparency
Blockchain allows to track all of the on-chain transactions, so users will also be able to see where the collected funding went and if it actually reached the intended recipient

Q6 from Telegram User @Kathdm

💫In the third quarter of 2021 you plan to introduce the Climate Community – where those that stake $BRKL token will vote on the allocation of donated funds. Can we also vote to decide the countries in which the trees will be planted?

Haroldas | brokoli.network: You can choose from 50+ projects even today – these cover almost the full globe
As we onboard more projects, yes, you will be able to choose even different countries and locations in countries!

Q7 from Telegram User @xperia3

Is Brokoli team anonymous? I wanted to check the team members but I could not find any linkedln accounts or something similar. If the team is not anonymous, can you please provide the team members information? If it is anonymous, do you plan to be non-anonymous in the future since being anonymous may have some disadvantages for such as trusting a project.

Haroldas | brokoli.network: listed on the website (some portraits pending), also most of us are on linkedin:
https://www.linkedin.com/in/haroldaspakalniskis/
https://www.linkedin.com/in/matasdanilaitis/
https://www.linkedin.com/in/monika-poskute/
https://www.linkedin.com/in/saulė-kašėtaitė-7a902a147/
https://www.linkedin.com/in/bitnician/
The full team is 8 people

Q8 from Telegram User @Thealitad

Can you share 3 Killer features on a #BROKOLI with user’s? And What are the Competitive advantages of #BROKOLI Network? And How can I Participate in the Public Round as an investor?

Haroldas | brokoli.network: The fun part 0 extra cost for the user
Climate positive action is a part of every transaction
A user interface that beats any experience you’ve had in DeFi — try the demo on our website brokoli.network button top right

Q9 from Telegram User @Josegamboac

Your #DEX Green Aggregator Provides Price Efficiency Plus Climate Positivity – With Brokoli, positive climate action is part of every transaction. The same applies to dApps. Every transaction you make plants trees and generates renewable energy at no additional cost to the user. In real terms, how does Brokoli impact the global climate? I believe that just planting trees is not enough. What are the policies that Brokoli considers should be implemented?

Haroldas | brokoli.network: You are correct. Planting trees alone is not enough
Blockchain has a severe negative impact on the planet
Which is why we’re funding three key areas

Q10 from Telegram User @Xusuo

Hello, could u tell to us what are Brokoli project marketing plan to invite & attract new user  ? how do you convince people that your Project is special and unique?

Brokoli Network:

This is a good question. Me and our CMO come from a marketing background. I worked with companies such as Nike, Paypal, Adidas, Venmo, and more. Our CMO @monikabrokoli is ex-CMO of an ad-tech company with over 1.5B+ profiled users (that’s 1/7th of the planet’s population)Our roadmap is a very step-by-step process.In our private round, the project founders that funded us all had the same requirement: Make intros to projects that can integrate one of our products — the 1-click climate positivity API .This gives us adoption from day 1 as we already have 20+ projects (including launchpads) committed to use the product.The standalone platform will be marketed via community campaigns and influencers. The community campaign is where the play-to-earn model and referrals come into play. you complete daily ‘quests’ that get us organic marketing (e.g. reply to Elon’s tweet about Brokoli) -> you get X trees (based on verified completion of tasks);. you refer a friend (Revolut referral model) -> you get X % of trees your referred friend gets during the 1st month of his platform use; if you’re a verified influencer, you share news about Brokoli on Instagram, TikTok, etc -> you get X trees on influencer-exclusive daily tasks

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Brokoli. They’ve prepared 4 questions for this part. The total reward pool for 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/

Our partners:

Brokoli Website – brokoli.network
Brokoli Telegram – @brokolinetwork

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 Baby Bakery and our guests were @Anthonydefi, @madmaxbsc, and @loftynft – representatives of Baby Bakery. The AMA took place on 11th of August.

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:
Hi dear Satoshi Club 🚀We are pleased to announce AMA with Baby Bakery!🧁

Paul Mont | Satoshi Club:
Today’s guests are @Anthonydefi @madmaxbsc @loftynft! Welcome! Great to have you here!

Gold Rocket | Satoshi Club:
Hello and welcome to Satoshi Club guys😍

ATHony:
Hi there everyone 😌

Max:
Hi there !

Gold Rocket | Satoshi Club:
Hi 👋🧁🧁🧁😋

Paul Mont | Satoshi Club:
Hello guys, it’s a great pleasure for us to have you here at Satoshi Club: )

ATHony:
We appreciate being here.

Paul Mont | Satoshi Club:
The appreciation is mutual! 😉

How are you today?

Gold Rocket | Satoshi Club:
We are very glad to conducting AMA with Baby Bakery

Thanks for joining🧁

ATHony:
Doing very well, a little stressed but we are good 🙂

Paul Mont | Satoshi Club:
I hear that stress, in little doses, is good for performance:)

Loftyace:
Thanks for having us 🙏

Gold Rocket | Satoshi Club:
Yes, you have a big event in a couple of hours! I’m sure you are very excited😁🤞

ATHony:
Yeah, you are probably right, all worth it in the long run😁

Paul Mont | Satoshi Club:
Haha, great! Without further ado, let’s start! 😉

So, please tell us more about yourselves – your past experiences/background and also how did Baby Bakery come to life.

ATHony:
Awesome let’s begin 🙂

Gold Rocket | Satoshi Club:
Tell us please also about your position in Baby Bakery

ATHony:
All of our team has very different backgrounds from marketing to coding, and we came together through university a few years ago.
We have been participating in the defi ecosystem as investors and on lookers for a long time now, we were tired of repetitive projects so put our joint knowledge together to bring baby bakery.

ATHony:
I’m the lead developer and the one responsible for creating Baby Bakeries smart contract.

Paul Mont | Satoshi Club:
So you all know each other personally and are friends in real life, correct?

Gold Rocket | Satoshi Club:
Cool..

What is the essence of Baby Bakery?

ATHony:
Our 3 core members yes, but we have 2 other admins who we only have a online relationship with who also play a big role in our project.

ATHony:
Essence is creating a community around a project that has community values, trust, and long-term rewards.

Gold Rocket | Satoshi Club:
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Baby Bakery?

ATHony:
Hard question because realistically u could develop a project in a few days.
However tracking trends, staying up to date with the ecosystem and market ect is the hard part in my opinion.

Baby bakery took around 3 weeks of building and planning, however, our team was thinking of ideas for many weeks before that.

Gold Rocket | Satoshi Club:
Brainstorming is not easy.😁👍

Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

ATHony:
Sure 🙂

Q1 from Telegram User @Highpee
One of the selling point that you claim your project has is that the team is fully doxed. But apart from the lead developer who is available on your website, there is no information on who makes the team. Since a team usually involves more than one individual, who are the other members working on this project and what role are they handling? What is the level of their experience and where link can users use to check out the fully doxed team? Are they a globally selected team and work remotely or are they from a particular region?

Gold Rocket | Satoshi Club:
Sorry .. I found your stickers and they are very funny. 😁

Paul Mont | Satoshi Club:
Haha I agree 100%, so darn cool 🔝😁

ATHony:
Lets cover who i am firstly, My name is Anthony Warwick and i am from Brazil.
Lofty is our lead marketing manager he is from Texas, Lofty will be doxing with max as a team in a live stream ama planned at the end of the week,
Max is also from Texas and lives close to Lofty, im hoping to get my visa sorted again soon and relocate back there.

Loftys marketing experience started in drop shipping and social media marketing. That’s what slowly lead him towards widening his views on venturing towards the crypto/defi scene
Max’s community management experience originated in gaming communities, hes mixing his defi love with community skills to help run our wonderful community.

Glad you liked them 😅

Paul Mont | Satoshi Club:
No, you’re wrong… I love them haha 😁🤍

Gold Rocket | Satoshi Club:
Does this mean the team is not anonymous?😊

ATHony:
Im not anonymous anymore, however Max and lofty are technically still anonymous until this Friday.
Our community moderators will however not be required to dox if they dont want to.
We only need our core team doxed in order to get higher quality listings and partnerships.

Gold Rocket | Satoshi Club:
Great answer! thanks😊

Paul Mont | Satoshi Club:
This is wonderful news – not a thing to take for granted in the crypto world and surely will help in your goal towards building a lot of trust from the very beginning.

Gold Rocket | Satoshi Club:
thank you very much for your honesty and for helping to deal with this moment😊

Ready to proceed to the next question?

ATHony:
Thank you we are trying hard to complete as much of the communities desires as we can 😊

Suure

Q2 from Telegram User @victorogb
The economic model adopted by Baby Bakery is somewhat similar to that adopted by most meme tokens. A considerable amount of meme projects have opted for a rewards scheme payable in tokens of a much bigger and popular projects, rather than their native tokens. With Baby Bakery, the reward tokens are CAKE & BAKE. Even as Baby Bakery tries to encourage users to hold it’s platform token $BBAKE, may I understand why a considerable effort is placed on rewarding with CAKE & BAKE, how does this reflective distributiion approach help the $BBAKE token, and what is the total liquidity of CAKE & BAKE tokens available to the Baby Bakery treasury?

ATHony:
Good question, We are in fact the first token to reward both bake & cake and are using that as a key factor about our project.
We have our reasons for picking those rewards, but huge majority of the bsc community also were itching for dual rewards of this calibre.

Also alot of meme projects may look similar on paper, but that’s a very small part of the meme coin culture.
The community engagement and consistent marketing is what will truly set us aside for the long term.. as im fairly certain within a few days from now a team will copy our tokenomics and launch a replica project, the difference is we will still be here next month and more importantly next year.

what is the total liquidity of CAKE & BAKE tokens available to the Baby Bakery treasury?

The total supply of baby bakery is 100billion tokens, the total supply the core team will control is 2.5% in a marketing fund.

Paul Mont | Satoshi Club:
I totally agree with this philosophy;)

Do you have a tokenomics paper to share with our community? 🙃

ATHony:
may I understand why a considerable effort is placed on rewarding with CAKE & BAKE

Cake in our eyes is the king of the bsc, as our ecosystem grows generally cake will follow.
We believe in the long term success of the BSC sector as a whole so therefore feel confident betting on cake.

Yes we do on both our website and whitepaper

https://babybakery.io/
https://linktr.ee/babybakery

Gold Rocket | Satoshi Club:
Great! Thanks for sharing🧁

Do you want to add something? Or we can proceed to the next question?😉

ATHony:
No problem 🙂

Lets proceed

Q3 from Telegram User @yellowchamp
According to the Dessert phase of your Roadmap, you plan to start a retail investor based-marketing and you also plan to have a celebrity connection which give highlights to your final Roadmap. So, could you elaborate more about how will the retail investor based-marketing be implemented and will work in your platform? Can anyone become a retail investor in Baby Bakery? If yes, what would be the qualifications and requirements to become a retail investor in your platform? Finally, speaking of celebrity connection, can you tell us whose celebrity you are eyeing to be connected with? Since you are still new in the market, what would be the deal you can offer for this celebrity? What maybe the impact that this celebrity connection or collaboration will bring to Baby Bakery network? Thank you

ATHony:
Of course, with regards to retail investor based marketing, We plan on propositioning baby bakery to a more wider audience outside of the bsc with the help of well established agencies in the bsc, in order to do this successfully we must be at a certain level and bring in tactics such as celebrities and larger influencers.
We have connected with a agent specialising in connecting teams with the relevant ambassadors and will be releasing more in-depth information on that soon.

Finally, speaking of celebrity connection, can you tell us whose celebrity you are eyeing to be connected with? Since you are still new in the market, what would be the deal you can offer for this celebrity?

We are looking at connecting with a celebrity chef to begin, main reason is the obvious.. Its very relatable to the project.
We would be offering them a fee based structure.

Gold Rocket | Satoshi Club:
Are you interested in social media influencers with a large following? 😀

ATHony:
What may be the impact that this celebrity connection or collaboration will bring to Baby Bakery network?

As for the marketing side its endless, we will personally be using the announcement, promotion, and engagement from our chosen celebrity to our maximum advantage.
Through articles, community shilling, add campaign’s and social media, to reap the maximum amount of benefit from the collaboration.

We have connected with a few already actually, multiple large-scale influencers already have promoted us.
However, we are always open to review more and will be adding more on as we go.

Gold Rocket | Satoshi Club:
Thank you very much for the detailed answers! Ready for the next question?

ATHony:
Yes please.

Q4 from Telegram User @JesusFre1tes
Baby Bakery is a project that aims to reward its investors for simply holding the currency. And from what I read, These rewards are the result of Baby Bakery’s innovative new smart contract features. I find it interesting to know, what are those new smart contract based features that allow platform users to earn rewards just for holding the native token in their wallet? In addition to this, what is the APY you offer? The level of return generated will depend on how many tokens each holder has? How exactly will this passive earning mechanism work?

ATHony:
Thats correct, By holding Baby Bakery you do earn both Bake & Cake.
3% of each transaction goes towards cake, 3% goes towards bake.
therefor 6% of every transaction is taken in BNB and converted into Cake & Bake every 60 minutes and paid to all holders automatically.

The amount they receive is based off there holding, for example if you held 1% of baby bakery, you would earn 1% of the cake & bake rewards.

Due to this being auto generated staking,, meaning holders do not have to lock there tokens we do not have a apy %.
Earnings in rewards are based off the trading volume, more transactions buys or sells = more rewards.

Gold Rocket | Satoshi Club:
I think this is quite unique.😁

ATHony:
Thank you we are glad it’s a bit different.

Gold Rocket | Satoshi Club:
Thanks for your answer

Let’s proceed?😊

ATHony:
Sure 😁

Paul Mont | Satoshi Club:
Couldn’t resist using a Baby Bakery sticker as well 😁

Q5 from Telegram User @Cheriemike
In your Baker’s Recipes that is your roadmap,you have Main Course,Entrée and Desert.Are they part of your liquidity pool or they are just terms given to each section of your roadmap?Since your roadmap is divided into 3 recipes and not Monthly or Quaterly,don’t you think user will find it very difficult to track your progress?And can you share with us the recipe you are currently working on?

ATHony:
There is no correlation between our road map and our liquidity pool.

They are terms given to each section of the road map to match our theme.
As for not being able to clearly tell about dates/quarterly ect that is a issue we can see and glad you have brought it to our attention.
We will adjust and add the Monthly names and info next to each.

We are working to complete our current recipe/road map.
As well as working on putting together a more in-depth marketing plan for the community to view and follow along.
A lot of projects do not show much on the marketing side just a few billet points in the road map.
We will be able to share this shortly with our lovely community in clear and easy terms.

Gold Rocket | Satoshi Club:
Thank you very much for the clarification😊

I suggest jumping to the last question of this part.😁

ATHony:
Amazing 🙏

Q6 from Telegram User @ItsMelissa3
Baby Bakery prides itself on being the first reflection token on the BSC network that rewards its holders with both $CAKE and $BAKE every 60 minutes. Will this distribution be automatically added to our wallet or must we claim it every 60 minutes? Will we be able to withdraw our earned $BAKE and $CAKE tokens immediately or will they remain locked for a defined period of time?

ATHony:
Yes, the distribution is completely automatic, we have removed the need to manually claim and following along with the current trend in auto rewards just adding our cake and bake twist.

Just keep in mind to view the rewards in your wallet you must add cake and bake to your MetaMask or trust wallet like you would any new coin 🙂

There is no time lock on your rewards but we recommend holding your cake and bake for the future !

Gold Rocket | Satoshi Club:
Thanks a lot for the answers and clarifications 🙂

Part 2 — live questions from the Telegram community

Q1 from Telegram user @rinnguyen
As Baby bakery is planning to host giveaway streams, Large events, so what will be benefits to users who will watch these streams?

ATHony:

Thanks for the question, firstly this engagement is key for the benefit of baby bakery. therefore we can allocate a portion of marketing funds to sponsor these events, give away BnB + busd prices, and host viewer-only competitions.
This should lead to a reliable viewing audience due to high chance and interactive events with solid real prizes.

Q2 from Telegram user @Jonathantross
What are your plans for marketing side of the project ? Is there any marketing wallet also ?

ATHony:

there is a 2.5% marketing wallet, The team will use its cake and bake rewards earned off holding this wallet and sell them to cover costs of marketing.. this also stops any need for us to actually sell our BabyBakery tokens.

Directly after launch for example we have book ads starting and our first wave of paid promotions post launch will begin.

Q3 from Telegram user @ashwini_Crypto
82.1K Entries have been filled in BABY BAKERY Whitelist Contest,
That’s just great!!
Could You please tell us a bit about the Whitelist contest?
When can Non-Whitelist users can participate?

ATHony:

The white list contest is a way to get the community to help shill the project,, as well as giving the chance to get a slot in early pre-sale.
This is open until 1pm UTC

NON-WHITELIST people can participate after a 2minute headstart has completed for the whitelist entries.

Q4 from Telegram user @highpee
Congratulations in advance for your presale that will be held today on DxSale, by 3pm UTC. What time will whitelist close and is it late to join? Will there be a softcap and hard cap and individual buy buying limit?

ATHony:

Whitelist competition ends 1pm UTC, you can still join.

Soft cap will be set to 250 bnb with a hard cap of 500bnb
We have set the individual buy limit to 0.1bnb min and 3bnb max.

Q5 from Telegram user @Rinkus987
What various rewards Babybakery gave to its holders make it different from other projects?

ATHony:

Cake and Bake tokens, we are the first project to reward both of them!

Q6 from Telegram user @Ishan1_7
For you, what do you think is the best for the reward tokens? Is it CAKE or BAKE?

ATHony:

Personally CAKE however some of the team believe bake has more growth potential 🙂

Q7 from Telegram user @Ble73
Do you plan to create awareness in communities that are not English speaking?. Can you share links of platforms if any?

ATHony:

Yes, we actually care a lot about our non-English speaking members, we have already started a few non-English servers. However, we will be upgrading them with more moderators in those native languages to increase community and staff connection.

Q8 from Telegram user @hansoyeon
How does Baby Bakery generate INCOME/PROFIT for the continuity and survival of the project? I can’t see it on your website. Do you have an entry fee or financial backer?

ATHony:

If you read our Bakeonomics, we have 2% transaction tax set to the marketing wallet.
This will ensure we have the capital to keep up with the other titans in the space.
This wallet will obviously also earn cake and bake, allowing us to sell those tokens to keep marketing up with baby bakery.

Q9 from Telegram user @centoscu
I use trust wallet so where can I baby bakery token and how can I get hourly rewards?

ATHony:

You can buy on pancakeswap when launched, or purchase on dxsale during presale.

You will simply add bake and cake address and token info to your trust/meta wallet to view the rewards,

Q10 from Telegram user @Tehokjambe
Many laypeople find it very difficult to understand a project. Is it possible for a layman to understand everything in your project? How will you handle it?

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Baby Bakery. 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/

Our partners
Baby Bakery Telegram community: https://t.me/babybakeryio
Twitter: https://twitter.com/BabyBakeryio
Website: http://babybakery.io

We are pleased to announce our next AMA on August 13th 2021 at 03:00 PM UTC Time: Satoshi Club x Epns

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

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

Part 3: 300$ – A quiz about Epns

For more details:
Epns Website – epns.io
Epns Telegram – @epnsproject
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 Port and our guest was @gabriel_wong. The AMA took place on 10 August.

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

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

Part 1 — introduction and questions from the Telegram community

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

Gold Rocket | Satoshi Club: Hello again, dear community!

Today our guest is @gabriel_wong

Gabriel Wong: hello everyone! Nice to be here!

Hello and welcome to Satoshi Club, @gabriel_wong!

Mary | Satoshi Club: Hi, happy to see you here! How are you today?😀

Gabriel Wong: I am pretty good today. Excited to share more about Port Finance!

Gold Rocket | Satoshi Club: Nice Ava btw😁

So let’s start 🚀

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

Tell us please about your position in Port?

Gabriel Wong: Hey there! I am Port Finance’s Captain. I have previously worked at global tech companies such as Google. I have also contributed to the Ethereum DeFi and Solana Defi ecosystems before.

Mary | Satoshi Club: Nice background! How did you get involved into crypto?

Gabriel Wong: I got into crypto since 2017 from trading. Later on started to contributed to open source crypto projects. In the beginning of this year we feel that the time is ready for us to actually build something in this space. 😎

Gold Rocket | Satoshi Club: What is the essence, main Idea of Port?

Mary | Satoshi Club: Gold year😀

Gabriel Wong: We hope that Port can be the safe harbour for all liquidity.😊

Gold Rocket | Satoshi Club: so you are an experienced sea captain😁

How long does it take to develop a project? What plans do you have for the future?

Mary | Satoshi Club: How big is your team? How many team members do you have?

Gabriel Wong: We start writing our first line of code from April this year. And then we release our dev net version 2 months ago, mainnet version 1 month ago while also completed our fund raising at the mean time.

Going forward we have some exciting plans:

– Start liquidity mining in August 2021

– Implement Leveraged Trading using Serum orderbook in September 2021

– Start working on Fixed interest rate borrowing and lending in October 2021

– Polish existing UI and UX while integrating with other projects

We have 4 people in the core team all coming from technical background and previously worked at large global companies such as Google, Facebook, Microsoft and also top tier trading firms. We met each other in London. whilst studying Computer Science at Imperial College. We have followed the Ethereum DeFi scene quite closely. Now, we feel it is an opportune time to build on Solana, where we can fill in some of the missing pieces in its early, burgeoning ecosystem.

Gold Rocket | Satoshi Club: You started at a great time. Great action plan! 👌

Mary | Satoshi Club: Is your team public or anonymous?

Gabriel Wong: Working hard to serve our user!

The team is anonymous at the moment. 🙂

Mary | Satoshi Club: Gotcha 😀

Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

Gabriel Wong: Sure!

Let’s go!

Q1 from Telegram User @Highpee

Port Finance is a Money Market Protocol based on Solana and you intend to provide users with Variable Rate Lending, Fixed Rate Swap and Interest Rate Swap. Can you explain the ideas behind these three-steps concept approach and how they are carried out? How do you provide a Variable Rate and Fixed Rate lending at the same? How is your variable interest rate tied to deposited token utilisation rate thereby allowing you to incentive more deposits? And how do these approach allow you to offer an attractive financial products that can better the ones provided by Aave, Compound or cream finance?

Gabriel Wong:  There are many question in Q1 here, I will respond to it one by one for clarity.

Mary | Satoshi Club: Sure, take your time!

Gold Rocket | Satoshi Club: Feel free😊

Gabriel Wong: Can you explain the ideas behind these three-steps concept approach and how they are carried out?

We hope to provide the product to the user in ascending order of sophistication.

The variable rate product is the most widely use product where depositor just deposit fund and earn yield, we hope to roll out this product first to serve the widest audience.

And then for the fixed rate lending product, it is more complicated where user need to decide on a interest rate that they are willing to pay and depends on the market rate they might not be able to borrow at that particular rate.

Going forward, we hope to implement interest rate swap which will be the most complicated.

Gabriel Wong: How do you provide a Variable Rate and Fixed Rate lending at the same?

We will allow the user to choose between fixed rate and variable rate in our protocol once fixed rate is live.

Mary | Satoshi Club: When do you plan fixed rate to go live?

Gabriel Wong: How is your variable interest rate tied to deposited token utilisation rate thereby allowing you to incentive

more deposits?

The interest rate curve is designed such that when the utilization is close to 100% the rate increased drastically. Recently in our platform, we have seen several times that the USDC deposit APY reaches over 30% +, sometimes as high as 50%+, this incentivize depositor to come and earn yield rather quickly. Depending on the asset, more volatile asset will also have a more aggressive parameters.

We plan to launch fixed rate lending via Serum orderbook by end of this year.

Mary | Satoshi Club: Awesome APY👍 for sure it will incentive

Gabriel Wong: And how do these approach allow you to offer an attractive financial products that can better the ones provided by Aave, Compound or cream finance?

Our first variable rate lending product is currently live on mainnet. Compared to Ethereum product such as Aave and Compound, we have many different innovations:

– more aggressive parameters for Loan to Value Ratio and also liquidation threshold

– for each user, we also plan to introduced the concept of subaccount where each wallet is allowed to divide the risk into different sub-accounts so even if one subaccount is liquidated, not all assets are lost for given users.

– we plan to integrate directly with Serum to achieve leveraged trading

Gold Rocket | Satoshi Club: great answer😁

Q2 from Telegram User @Asela1112

Currently Port Finance has been associated with lot of mega crypto platforms such as RAYDIUM, Solanium, MERCURIAL FINANCE etc..what are the future goals/plans, that you hope to launch with these partners? How did they help you in order to grow from ground level to current stage? Will you do more airdrops & giveaways for them in future? Will there be more partnerships in Port Finance partner’s list on your website soon?

Gabriel Wong: – Solanium has been our IDO platform and has been a great partner for the launch. We leveraged the huge (close to 200k) community for bootstrapping our user base. Their community also makes up the over 50k community that we have now.

– With Raydium we listed there yesterday where you can now trade.

– With Mercurial finance, we have been discussing integration

– We will definitely discuss further exciting community activities with them and also other Solana projects – stay tuned!

Mary | Satoshi Club: Btw, how trading is going?😀

Gabriel Wong: We’re mainly focusing on building out the product and grow the community at this stage. 😁

Mary | Satoshi Club: I like this direction of your thoughts 😀

Gabriel Wong: thanks!

Gold Rocket | Satoshi Club: by the way, share your roadmap with us.. you already said a bit in the intro …

Gabriel Wong: Here is a brief road map:

– Liquidity mining in August 2021

– Leveraged Trading using Serum orderbook in September 2021

– Start working on Fixed interest rate borrowing and lending in October 2021

– Polish existing UI and UX while integrating with other projects

Gold Rocket | Satoshi Club: Thanks for your answers and sharing ☺️

Ready to proceed to the next question?😊

Gabriel Wong: yep

Q3 from Telegram User  @KhaleesiTheCryptoLady

I read in your medium that major step in the Q3 PORT Roadmap has been the migration of mainnet application to prepare supporting more assets, which is already completed. So, what are the major changes you made compared from the old version? What will happen if users remain to use the old version? Is it necessary to withdraw funds from the initial launch application and redeposit them into the new application?

Gabriel Wong: To support more assets going forward, we deploy a new version of the on-chain program. So we asked our user to migrate from our previous version to our current version. It will be great if all user can migrate from the old version to the new version since there won’t be much borrowing happen there and we intend to deprecate it once all user fund has been removed.

Gabriel Wong: Done!

Mary | Satoshi Club: How many new assets did you add to new version? Was it the only one thing that changed?

Gabriel Wong: Currently we have added: USDC, USDT, PAI, SOL, SRM. We plan to keep adding new asset going forward! Deploying a new version allow us to improve the internals to allow for the change. 😎

Q4 from Telegram User @Deaddynot

Hello, Port team! Talking about your governance module which will be implemented in September 2021 i couldn’t find more details about this. Could you tell us how this module will work? What proposals will be subjects of governance and what requirements you have to members to become involved in this system?

Gabriel Wong: We will be disclosing the details of this shortly. The proposals that will be subject to governance include things like what assets to list, the risk parameters for various assets. Members will need to be holding a specified number of tokens to take part in governance.

Mary | Satoshi Club: Gotcha! We will wait for the updates on governance module 😀

I also want to ask you about security of your platform

Gabriel Wong: sure

Mary | Satoshi Club: What about it? Did you pass any audits?

Gabriel Wong: Yes we do. We have successfully passed the audit done by Bramah System. And we are also going through a second audit.

Thanks for your answers

Mary | Satoshi Club: Oh, that’s nice😀 security should be priority in the light of recent Poly hack

Thank you for your answers, Gabriel!

Ready to go to the next question?

Gabriel Wong: Yep. We take this extremely seriously. We are also working with LIQ protocol to ensure speedy liquidation as well. There is also extremely extensive testing before we deploy.

yep

Mary | Satoshi Club: Awesome 👍

Q5 from Telegram User @yellowchamp

I read in your document that Port Finance has a Bug Bounty Program,in which participants can earn rewards up to $100,000 USD. So,can you explain more about the mechanics and structure of your Bug Bounty Program? Can anyone even without skills in finding bug can participate in this program? Why does the rewards is so high? Does it not cost much for your platform for this reward? Is this Bug Bounty Program still ongoing event in your platform? Thank you

Gabriel Wong: Yes. Bug bounty is a long-running event to encourage white hat hacker to find and also report security vulnerabilities directly to us to increase the overall safety of the protocol. Anybody can report issue and we will take every report very seriously.

Mary | Satoshi Club: Btw, did anyone already find some bugs?😀

Gabriel Wong: Not any critical ones. Mostly just UI improvements. We have a Github repo open for all the issue that has been reported: https://github.com/port-finance/bug-bounty

Mary | Satoshi Club: Perfect 👏

Gold Rocket | Satoshi Club: Tell us please about your tokenomics btw

Sure!

Gabriel Wong: Here is a break down of tokenomics

Total Supply: 100 million.

• Ecosystem: 33%.

• Liquidity Incentives: 31%.

• Team: 20% .

• Fund raising: 10%

• Initial Liquidity: 4%.

• Advisors: 2%.

Gold Rocket | Satoshi Club: Great thanks 👌

Ready to proceed to the last question of this part?😊

Gabriel Wong: Sure!

Q6 from Telegram User @JaviSuBs™

Greetings, tell us a bit about Port Finance, how a project without liquidity protocol works, how Port can combine fixed income products that include variable rate loans, fixed rate loans and interest rate swaps. ?

Explain to us about the strategies that Port Finance intends to use to meet these objectives.

Gabriel Wong: We plan to doing different phases. The current focus is on the variable rate lending, then fixed rate lending and finally interest rate swap! We are working very hard and take a product-oriented approach.

We are taking a very product-oriented approach where we launched the product first and kept iterating based on user feedback. The current user interface is already our third iteration of the UI. We’re working tirelessly on a new version to support liquidity mining in August.

Mary | Satoshi Club: What about cross chain solutions? Do you plan them?

Gabriel Wong: Yeah, we plan to support asset coming from Wormhole bridge.

Mary | Satoshi Club: Gotcha 👍

So… Now we’re close to the most exciting part of our AMA 😀

Live part🚀

Part 2 — live questions from the Telegram community

Q1  from telegram username @highpee

Hello Port Finance 🙋‍♂️🙋‍♂️

You said you will introduce the concept of SUB-ACCOUNT which users can use to limit complete liquidation risk. How will a single wallet be used as multiple sub-accounts? How can this help to prevent complete liquidation of collateral?

@gabriel_wong

Gabriel Wong: Each wallet could have numerous sub account, they collateral and loan are separate for each. So even one sub account gets liquidated, it will not affect your other account.

Q2  from telegram username @Asela1112

Tell me 3 reasons, why to prefer Your over other competitors. What are those features, which makes you unique, from your competition?

thank you.

Hello 🙋‍♂️

@gabriel_wong

Port Finance have integrated flash loan feature. users can use it for Trading arbitrages, Collateral swaps & self liquidation & can be gained a huge profit. What is the maximum amount, you are capable to offer in the form of flash loan? Can you tell us the interest, that you incure back?

Gabriel Wong: For flash loan you can borrow up to 100% of the available liquidity that is still in the pool. And there will be a fee charged for flash loan as a percentage of the total borrow amount.

Q3  from telegram username @kkkkmmlo

Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project?

Gabriel Wong: Yeah. Governance is able to decide what assets to list, the risk parameters required for for each assets for example. Members will need to be holding a specified number of tokens to take part in this

Q4  from telegram username @BJosefina61

Can you talk about your settlement ranges and interest rate determination? is it similar to Aave and Compound or something also some new features?

Gabriel Wong: Yeah, we we uses a model that is similar to Aave. You can read more here: https://docs.port.finance/interest-rate-curve

Q5  from telegram username @sweetdoge

What is Serum orderbook and what are the features of the Serum order book?

Gabriel Wong: Serum is the flagship DEX of Solana ecosystem. We plan to integrate with Serum to implement new features.

Q6  from telegram username @Smartling

What potentials did the team see in the Solana ecosystem that made them want to launch Port Finance on it and what goals do you intend to achieve by doing this?

Gabriel Wong: We believe in the long-term growth of Solana ecosystem.

We also believe borrowing and lending is the most fundamental building block of any Defi ecosystem. We aim to build a lending product that is easy to understand and use.

Q7  from telegram username @kkkkmmlo

Tell me 3 reasons, why to prefer Your over other competitors. What are those features, which makes you unique, from your competition?

thank you.

Gabriel Wong: 1. Our biggest strength lies in our speed of execution (with the core team being experienced engineers) and our product focus.

Compared to other lending protocols on Solana, we’re already on mainnet and we are actively looking to integrate with other protocols and supporting new assets. We believe that there is a first-mover advantage in this new ecosystem. We will also continue improving the product based on our users’ feedback.

2. With regards to the product, Port Finance has a broader scope compared with its competitors – it aims to be a one-stop shop for money markets products including 1) Variable interest rate 2) fixed interest rate lending 3) interest rate swaps. Based on our understanding, other competitors have a smaller scope in comparison.

3. Using the Solana blockchain, users are able to borrow more money vs what they can do on ethereum with the same amount of collateral

Q8 from telegram username @Nonerlike

You have a very big reward pool of bug bounty upto $100000. Do you have enough fund for this reward pool and whom should I contact for this? Is it available now or not?

Gabriel Wong: It’s still open and available. Read more here: https://docs.port.finance/security/bug-bounty

Q9  from telegram username @DF3295

What is your perspective of adding more assets to Port Finance, and could SOL serve as collateral as well? be decided by governance?

Gabriel Wong: We hope to add more assets in the coming weeks. SOL can be used as collateral, yes.

Q10  from telegram username @Ble73

Does this project support staking and farming sir?🍀🍀🍀🍀🍀

Gabriel Wong: We are planning for this! Stay tuned

Part 3 – Quiz Results

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

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

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

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

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

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

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

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

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

Website: https://esatoshi.club/

Our partners:

Telegram: https://t.me/port_finance   

Twitter: https://twitter.com/port_finance

We are pleased to announce our next AMA on August 12th 2021 at 12 PM UTC Time: Satoshi Club x vEmpire DDAO

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

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

Part 3: 300$ – A quiz about vEmpire DDAO

For more details:
vEmpire DDAO Website – v-empire.digital
vEmpire DDAO Telegram – @vEmpirediscussion
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on August 11th 2021 at 11:00 AM UTC Time: Satoshi Club x Baby Bakery

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

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

Part 3: 300$ – A quiz about Baby Bakery

For more details:
Baby Bakery Website – babybakery.io
Baby Bakery Telegram – @babybakeryio
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We were delighted to welcome our guest from Swaperry . The AMA took place on August 9th, 2021 and our guest was @danghoa1.

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

Part 1 — introduction and questions from the Telegram&Bitcointalk community

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

Gold Rocket | Satoshi Club: Today our guest is @danghoa1

Phil Dang | Swaperry: Hello everyone.  I’m excited to be here.

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @danghoa1!😊

Phil Dang | Swaperry: Big thank you to everybody for attending this AMA!

Gold Rocket | Satoshi Club: We also really excited about upcoming AMA😊

Gold Rocket | Satoshi Club: Let’s start!

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

Tell us please about your position in Swaperry?😊

Phil Dang | Swaperry: Of course!

Phil Dang | Swaperry: I’m Phil, co-founder and CEO of Swaperry.

Phil Dang | Swaperry: A bit about myself.  I was born and raised in Vietnam, but I moved to Singapore and eventually to the United States for education

Phil Dang | Swaperry: and now I live in Silicon Valley

Phil Dang | Swaperry: Before crypto, I was a software engineer.  I spent the last 4 years working at Google, and a few more years before that at Facebook.

Phil Dang | Swaperry: I’ve stumbled across the topic of blockchain with my colleagues at Google many times, but last year was when I was heavily drawn into by it.

Gold Rocket | Satoshi Club: Wow amazing background 👍

Phil Dang | Swaperry:

The future potential for blockchain to become such an integral part of technological products and contemporary finance really fascinated me.

Gold Rocket | Satoshi Club:

so you are golden youth😁

Phil Dang | Swaperry:

That is why early this year I decided to take the courage to leave Google and started Swaperry.

Phil Dang | Swaperry:

haha

Gold Rocket | Satoshi Club:

This is what impresses us every day.😍

Gold Rocket | Satoshi Club:

This is a really tough decision on your part! I’m sure you did the right thing🙌

Gold Rocket | Satoshi Club:

What is the essence of Swaperry?

Phil Dang | Swaperry:

Yep I’d love to tell you more about what Swaperry is about 🙂

Phil Dang | Swaperry:

There’s a lot to say, but in a nutshell, Swaperry is a highly powerful DEX built on a Polkadot parachain.

Phil Dang | Swaperry: If you’re not familiar with Polkadot, it is one of the most promising blockchain technologies about to launch

Phil Dang | Swaperry: and it’s said to be the next Ethereum

Phil Dang | Swaperry: So, Swaperry will leverage the gigantic horsepower of Polkadot to facilitate extremely fast and cheap transactions

Phil Dang | Swaperry: and offer a suite of much needed trading features that previously were unthought of on a decentralized exchange.

Gold Rocket | Satoshi Club: We are big fans of polkadot here and consider it one of the most promising directions.

Phil Dang | Swaperry: Thats awesome!  You also share our team’s thinking!

Phil Dang | Swaperry: These are things you won’t find on other DEXes

Gold Rocket | Satoshi Club: How long does it take to develop a project? What plans do you have for the future? And what can we expect from Swaperry?

Gold Rocket | Satoshi Club: Oops😁

Phil Dang | Swaperry: We have started this project since last January.

Phil Dang | Swaperry: Our team of close to 20 engineers have been hard at work

Phil Dang | Swaperry: and great news: we are actually at our pre-launch phase

Phil Dang | Swaperry: you will see us launching one of our first features, called prediction trading, within a month.

Phil Dang | Swaperry: And the rest of the products, including our DEX with limit order and stop loss, will come soon after to the market.

Gold Rocket | Satoshi Club: Oh! This is incredible! Thanks for sharing this with us.😍

Phil Dang | Swaperry: Our long term goal, though, is actually to bring the stock market onto our DEX.

Phil Dang | Swaperry: The stock market is nearly 100x more than the crypto market, but its not accessible to most of the world due to national borders.

Phil Dang | Swaperry: For example, most people in the world can’t buy Apple or Google stock because they are not Americans

Phil Dang | Swaperry: We want to be the team that brings stock accessibility to the next level, via a decentralized exchange, and we won’t stop until we finish that.

Phil Dang | Swaperry: Of course!  Happy to share 😄

Gold Rocket | Satoshi Club: So you are in the mainstream👍

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

Phil Dang | Swaperry: Sure!

Q1 from Telegram User @josegamboac

Swaperry will be one of the first decentralized exchanges (DEX) to be available for trading crypto assets on day 1 of Polkadot’s launch. Will Swaperry come packed with cross chain support, limit order, stop loss, margin, and even predictive trades? All these features will be completely decentralized? Will the community be 100% owner of these components?

Phil Dang | Swaperry: Absolutely great first question!

Phil Dang | Swaperry: Yes we do intend to launch Swaperry along with advanced features like limit order and stop loss.

Phil Dang | Swaperry: What we are dependent on is just the launch of Polkadot itself,

Phil Dang | Swaperry: which could be a few months away.

Phil Dang | Swaperry: Which is why, while we wait for its launch, we will be rolling out a teaser product, called predictive trading.

Phil Dang | Swaperry: This is something I’m super excited about!

Gold Rocket | Satoshi Club: Does community activity affect the final product?

Phil Dang | Swaperry: This feature works similarly to options trading on the stock market: you pay a ticket to predict the direction of a cryptoasset, and win disproportional rewards and possibly the lottery if you predict correctly.

Phil Dang | Swaperry: There will also be an achievement system that would reward NFTs to earners.  These NFTs give you massive benefits on Swaperry, and you can trade them with other users.

Phil Dang | Swaperry: We believe this product could be a huge hit

Gold Rocket | Satoshi Club: this is quite original

Phil Dang | Swaperry: And yes of course.  All of our products are 100% decentralized

Phil Dang | Swaperry: And once we launch, they belong entirely to the community.

Gold Rocket | Satoshi Club: I totally agree😁👍

Phil Dang | Swaperry: Of course.  We constantly seek feedback from our community to shape our final product.

Gold Rocket | Satoshi Club: Thank you very much for such detailed answers!

Gold Rocket | Satoshi Club: I suggest moving on to the next question. If you do not mind😊

Phil Dang | Swaperry: Sure, lets proceed 🙂

Q2 from Telegram User @Billz120

On Prediction Trading, how could I join pools that Predict the direction of an asset price and win a share of the big pot, along with lottery jackpots? The advanced CEX- only features like limit order and prediction trading, having been thought from the ground up in order to function and scale, what are the assurances that Perry Token will favourably compete with other Structures ? On Trustless cross-chain migration cryptoasset from any block chain on to Swaperry how could an investor successfully makes such a migration, and are they charges for such migration and at what rate?

Phil Dang | Swaperry: Wow that is a long question! 😄

Gold Rocket | Satoshi Club: Partially disclosed. But I think you have something to add😁

Phil Dang | Swaperry: I’ll try to answer as best as I can.

Gold Rocket | Satoshi Club: Satoshi Clubbers know how to surprise 😁

Phil Dang | Swaperry: The exact details on how prediction pools work will be shared later,

Phil Dang | Swaperry: but in a nutshell, you can buy an UP ticket or a DOWN ticket to predict the direction of an asset.

Phil Dang | Swaperry: when the pool expiry date hits, we evaluate the current price of the asset,

Phil Dang | Swaperry: and whoever predicted correctly will receive the pool amount, distributed evenly

Phil Dang | Swaperry: Winners are also entitled to a lottery drawing

Gold Rocket | Satoshi Club: And the one who was wrong 👀

Phil Dang | Swaperry: so you could potentially win a large amount!

Phil Dang | Swaperry: Well, you lose 🙂 just like buying a wrong option on the stock market.

Phil Dang | Swaperry: But!

Phil Dang | Swaperry: You could still earn NFT achievements for losing

Phil Dang | Swaperry: and these NFTs can be traded

Phil Dang | Swaperry: for potentially high price

Phil Dang | Swaperry: as the NFTS do bring massive benefits to your next prediction participations

Gold Rocket | Satoshi Club: That is, all the same, win win for all😁

Phil Dang | Swaperry: Correct

Gold Rocket | Satoshi Club: do you already have nft to share with us

Gold Rocket | Satoshi Club: Probably a prototype

Phil Dang | Swaperry: Right now we are keeping this under wrap

Phil Dang | Swaperry: Not to keen on revealing our secrets to potential competitors just yet 🙂

Phil Dang | Swaperry: But do keep an eye out for our announcement!

Gold Rocket | Satoshi Club: 😁 so pity

Gold Rocket | Satoshi Club: many thanks for the answer😊

Gold Rocket | Satoshi Club: Let’s proceed to the next question? Or you want to add something😊

Phil Dang | Swaperry: Yep let me just add my thought on this part of the question:

Phil Dang | Swaperry: “what are the assurances that Perry Token will favourably compete with other Structures”

Gold Rocket | Satoshi Club: Of course ❤️

Phil Dang | Swaperry: So Swaperry is built on the shoulder of giants.

Phil Dang | Swaperry: The giants are Polkadot and Polkafoundry.

Phil Dang | Swaperry: Polkafoundry is one of the top parachains on Polkadot, and they offer very reliable and scalable infrastructure

Phil Dang | Swaperry: That’s why we have strong confidence in the robustness of Swaperry software.

Phil Dang | Swaperry: The choice of Polkadot as a backbone technology also allows us to unlock and build many advanced features other DEXes don’t offer

Phil Dang | Swaperry: like limit order and stop loss

Phil Dang | Swaperry: which is why we think we have a chance at directly competing with CEXes as a strong option for traders

Phil Dang | Swaperry: I hope that helped address your concerns! 🙂

Phil Dang | Swaperry: We can proceed now

Gold Rocket | Satoshi Club: You’re absolutely right! I really like that you chose the best in crypto industry today

Q3 from Telegram User @DK177

Currently, NFT marketplaces are becoming popular among users. According to your roadmap, Swaperry has been initiated in the fourth quarter of 2020. However, NFTs will be introduced to the project by the fourth quarter of 2022, it means after two years. NFT related works help to grab the attention of investors. Why did you postpone putting this popular concept in to practice? What have you done so far to achieve this milestone by the said time? You have mentioned this target as “NFTs”. Please let us know whether you are going to create a NFT marketplace or to develop your own NTFs.

Phil Dang | Swaperry: Very great question indeed, and at the perfect time since I just mentioned our NFT achievements 🙂

Phil Dang | Swaperry: The blockchain industry is one that changes really quickly

Phil Dang | Swaperry: one thing that may not be such a hot topic last week could be the top hit this week

Phil Dang | Swaperry: the plan to implement NFT trading in 2022 was our original plan when we discussed our future roadmap as a team

Phil Dang | Swaperry: but seeing NFTs quickly becoming such a popular topic has led us to expedite our work on it

Phil Dang | Swaperry: That’s why you’ll actually be seeing our first suite of NFT products as soon as launch (next month!)

Phil Dang | Swaperry: the NFT achievements will go extremely well hand in hand with prediction trading

Phil Dang | Swaperry: and the early adopters will have the best chance to win NFTs,

Phil Dang | Swaperry: because they are limited!

Gold Rocket | Satoshi Club: yeah… this is very timely… nft are experiencing hype today…

Phil Dang | Swaperry: Exactly

Gold Rocket | Satoshi Club: That is, there will be a marketplace too?

Phil Dang | Swaperry: So yes, we will immediately start with our own NFTs, and followed by marketplace

Gold Rocket | Satoshi Club: Gotcha👍

Phil Dang | Swaperry: This is what we’ve wanted to do from the start: Swaperry is all about commercial freedom: trade anything DeFi, not just limited to cryptocurrency

Gold Rocket | Satoshi Club: tell us another secret

Gold Rocket | Satoshi Club: Which blockchain will you use for making NFTs? Your NFTs will be only collectibles or have some utility functions?

Phil Dang | SwaperryThis is not locked down yet, but we will likely go with a blockchain that most people have access to: BSC

Phil Dang | Swaperry: The NFTs have utility functions of course

Phil Dang | Swaperry: And because these NFT achievements are limited in quantity,

Phil Dang | Swaperry: their price will only go up, as swaperry users start growing and demand skyrockets

Phil Dang | Swaperry: so, the sooner you race to earn them the better

Gold Rocket | Satoshi Club: Yes, it confused me a bit. But then I realized that you have good cross-chain solutions. 😁

Gold Rocket | Satoshi Club: Thanks for your answers

Phil Dang | Swaperry: Dont worry, you’ll hear more details about it very soon! 🙂

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

Q4 from Telegram User @ambbobb

Going through your website, I could see you have alot of Strategic Investors in your project like HG Ventures, Icetea lab, Signum capital etc but I noticed that not even one of them relate with STOCK TRADING and you planned to launch a New Stock Market on DeFi very soon. If this project went as planned it will be first of its kind in cryptocurrency market, though somethings might have been put in place, but how do you want to convince/motivate investors in the line of stock trading for your project? You also want to be trading TSLA, APPL, and GME on your exchange which will allow user to  Buy and sell their tokenized versions with USDT or PERRY. How can we Redeem them onto our brokerage as traditional stocks in order to exercise shareholders’ rights?

Phil Dang | Swaperry: Great question!

Phil Dang | Swaperry: You’re correct that none of our investors have strong relations with the stock market, and that’s for a good reason: We are still a decentralized platform at heart, and we need their guidance in the crypto space.

Phil Dang | Swaperry: And another is, what we are trying to do: bringing the stock market onto a DEX, is something so new, that no investors actually have experience in.

Phil Dang | Swaperry: Which is the whole point: we want to bring something brand new to the industry,

Phil Dang | Swaperry: not rebuilding an existing product from someone else.

Gold Rocket | Satoshi Club: you’re right. this is something unique for today

Phil Dang | Swaperry: So, while our investors cannot directly help with stock trading, they offer tremendous value in their connections and network

Phil Dang | Swaperry: For example, Signum is one of the top VCs in Singapore, and they can help us connect with top banks and brokerages there

Phil Dang | Swaperry: Its these connections that are invaluable when we are working on something as new as this.

Phil Dang | Swaperry: Lastly, we actually do have experts in stock trading

Phil Dang | Swaperry: they are not investors, but are our advisors.

Gold Rocket | Satoshi Club: It is really more valuable than money😊

Phil Dang | Swaperry: That’s why you don’t see them on the list.

Phil Dang | Swaperry: And as for how we might be able to bridge between the traditional stocks and the crypto world:

Phil Dang | Swaperry: via staking

Phil Dang | Swaperry: a local, 3rd party brokerage could potentially hold custody of a staker’s traditional stock

Phil Dang | Swaperry: in return, Swaperry mints the crypto stocks, which you can use for trading on our DEX.

Gold Rocket | Satoshi Club: Btw did you already finish a seed or private token sale? if so, can you share details with us? I’m asking because of investors you have 😉

Phil Dang | Swaperry: Of course!

Phil Dang | Swaperry: Right now, Swaperry has completed all of its seed and private fundraising rounds, and has raised a total of $1.6M.

Phil Dang | Swaperry: The next and final raise we will do is in the form of an IDO

Phil Dang | Swaperry: and it will happen within 2 weeks

Phil Dang | Swaperry: so you potentially will have a chance to be one of our investors as well

Gold Rocket | Satoshi Club: Really soon🤞

Phil Dang | Swaperry: our IDO will happen on RedKite launchpad, btw

Gold Rocket | Satoshi Club: what are the requirements?

Phil Dang | Swaperry: There is a whitelisting process, where potential investors will help us by spreading the words

Phil Dang | Swaperry: You will get announcements from us very soon on our media channels!

Gold Rocket | Satoshi Club: Where can we follow this process

Phil Dang | Swaperry: 👥 Our Official Social Media Links

Website (https://swaperry.com/) I Whitepaper (https://docs.swaperry.com/) I Telegram Chat (https://t.me/swaperry) I Telegram ANN (https://t.me/swaperry_ann) I Twitter (https://twitter.com/SwaperryDex) I Medium (https://medium.com/swaperry)

Gold Rocket | Satoshi Club: Great thanks 👌

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

Phil Dang | Swaperry: Yes!

Q5 from Telegram User @nhairym

SwaPerry offers us a set of tools that help traders to analyze the market, add prices and make decisions, the DEX have been increasing their space at a fairly rapid rate, however the CEX are still in force in the market and with a high proportion of users; What CEX strategies and protocols do you think could be applied in DEX to create a more unified financial system that satisfies traditional and current demands? Polkadot provides them with the perfect ecosystem to develop all the strategies and proposals to achieve their ambitious but achievable plans and goal of showing the world that CEX is the past and DEX is the future?

Phil Dang | Swaperry: @Nhairym You’re correct that current DEXes have a few limitations.

Phil Dang | Swaperry: For example, transaction speeds tend to be much slower and more expensive.  The products are not intuitive at all.  They don’t have any cross-chain support.  And they don’t have advanced features like limit order that CEXes have.

Phil Dang | Swaperry: However, we really believe that the benefits of decentralization outweights them all:

Phil Dang | Swaperry: you don’t need any KYC, you don’t lose custody of your assets, and you don’t have to trust the system at all, because its all powered by smart contracts.

Phil Dang | Swaperry: That’s why Swaperry’s mission is, as you mentioned, to show the world that CEXes are that past, and DEXes are the future.

Phil Dang | Swaperry: Our team works extremely hard to get rid of the 4 limitations I mentioned before.

Phil Dang | Swaperry: First, Swaperry is powered by Polkadot, which is a very solid, scalable infastructure.

Phil Dang | Swaperry: It will allow transactions to be significant faster and much cheaper.

Gold Rocket | Satoshi Club: this is a quiet evolution 😁

Phil Dang | Swaperry: Second, we will have cross-chain support with other projects on Polkadot, due to the multi-chain nature.

Phil Dang | Swaperry: Third, our team has managed to leverage the power of Polkadot to develop many advanced features previously only available on CEXes

Phil Dang | Swaperry: for example limit order, stop loss and prediction trading

Phil Dang | Swaperry: And of course the goal is to demonstrate that all these could be built and powered by a 100% decentralized network

Phil Dang | Swaperry: And at similar level of convenience and intuitiveness.

Phil Dang | Swaperry: So trust me that once our product is launched, there won’t be a whole lot of reasons why people should continue to use CEXes anymore.

Phil Dang | Swaperry: I really expect DEXes will be the main trading mechanism in the future and I’d be suprised if CEXes still have such a strong dominant within the next 2 years.

Gold Rocket | Satoshi Club: If we talk about security, did you conduct an audit or hackathon?

Phil Dang | Swaperry: Of course we did

Andrés M. | Satoshi Club: Hi @danghoa1, happy to be here with you, it seems that powerful features are coming to be part of Swaperry, could you share the whole roadmap to check every event coming?😃

Phil Dang | Swaperry: As a DEX, it is critical that our software needs to be robust and highly secured.

Gold Rocket | Satoshi Club: And what results did you get?

Phil Dang | Swaperry: We currently have a few security experts acting as our technical advisors just for this matter.  At the same time, we hired a third-party security company well known in the industry, CertiK, to audit all of our smart contracts.

Phil Dang | Swaperry: CertiK is the audit company behind major projects like PancakeSwap, Binance & Polygon,

Phil Dang | Swaperry: so while no one can guarantee 100% bug-free software, we feel confident to leave the matter in their hand.

Phil Dang | Swaperry: And great news, we’ve passed their security bar

Gold Rocket | Satoshi Club: Safety first 👌

Phil Dang | Swaperry: Please be assured that we will only launch our product once we have prefected our software security

Phil Dang | Swaperry: Yes, this is absolutely important

Phil Dang | Swaperry: Hi Andres, of course.

Phil Dang | Swaperry: You can check on our website right now

Phil Dang | Swaperry: We do include our roadmap there

Phil Dang | Swaperry: swaperry.com

Andrés M. | Satoshi Club: Thank you, I’ll do

Gold Rocket | Satoshi Club: Thanks for your answers

Phil Dang | Swaperry: Youre absolutely welcome

Gold Rocket | Satoshi Club: We have last question before opening chat😊 let’s proceed🚀

Andrés M. | Satoshi Club: Yes, complete and detailed answers, that’s what our community needs 😁

Gold Rocket | Satoshi Club: Shoot please🚀

Q6 from Telegram User @Right_clicK1

PERRY will function as the native utility token of swaperry .In the explanation of Perry tokenomics, it was stated that 20% of total supply was allocated for private sale which took place in Q2 2021 and 1% for public sale. You raised $1.6Million in the private sale, I want to know how do you want to raise more than that in public sale when its allocation is not even up to half of private sale, how do you want to handle the upcoming sale in order to achieve more funds than the previous sale? Where and how are users going to participate in the public sale since Mainnet V1.0 is stated to be launched this quarter after public sale? Can you give more details about the sale?

Gold Rocket | Satoshi Club: partially answered

Phil Dang | Swaperry: Right I did address some of these

Gold Rocket | Satoshi Club: but we are waiting for interesting details 😁

Phil Dang | Swaperry: Our IDO public sale allocation is $100,000

Phil Dang | Swaperry: This sale will take place on Redkite

Phil Dang | Swaperry: The PERRY tokens will then be listed on exchanges soon after

Phil Dang | Swaperry: likely within the same day

Phil Dang | Swaperry: After IDO, we are no longer actively raising funds

Phil Dang | Swaperry: $1.6M is more than enough to give us the runway we need

Andrés M. | Satoshi Club: What will be the sale price of $PERRY?

Phil Dang | Swaperry: Then, we rely on our revenue collected from prediction trading and our DEX

Phil Dang | Swaperry: It will be $0.05 / PERRY, at IDO

Phil Dang | Swaperry: And as I mentioned, this will happen on Redkite

Part 2 — live questions from the Telegram community

Q1 from Telegram User @xperia3

Swaperry aim to take the advantages of CEX and strengthen DEX. While doing this, will Swaperry sacrifice some part of its decentralization? Do Swaperry target to be a mix of DEX and CEX which is commonly called CeDeFi or do you really aim to stay decentralized?

Phil Dang | Swaperry:

We do aim to be 100% decentralized. We don’t believe in a middleground here. If the product is not 100% decentralized, then it is centralized. Which is why its hard to overstate the achievements we’ve made in building limit order. Other DEXes that claimed to offer that, really just used some form of an off-chain system. For us, it is entirely decentralized

Q2 from Telegram User @RahulGandhi59

I could notice that in their roadmap they indicate that this Q3 will be made its public sale through IDO, and that after this they will carry out the audit process, right? But really why wait to complete the IDO to audit your contract? Shouldn’t they be done earlier to provide greater reliability to investors?

Phil Dang | Swaperry:

We have actually already carried out the audit

Q3 from Telegram User @Smartling

So what will Swaperry compensate me with if I lose or do I have to just lose out completely?

Phil Dang | Swaperry:

If you predict incorrectly, you will still have a chance to win a lottery in the pool. And you could still earn NFT achievements

Q4 from Telegram User @Robotliker1

What is your project strategy to educate and increase awareness in the global level who are non english speakers? Do you have any ambassador program for different countries?

Phil Dang | Swaperry:

Yes, we do work with ambassadors to represent us in non-English speaking countries. like China, Korea, Jpan

Q5 from Telegram User @highpee

One of your first set of products is PREDICTION TRADING .  How will users use it to bet against price movement?  Also, you said that a user that predicted correctly can win potentially disproportionate rewards. Can you provide a layman explanation to your complex rewarding model and why reward will be disproportionate rather than being proportional to users stake or position?

Phil Dang | Swaperry:

Of course, the more tickets you purchase to particpate in the predictiong pool, the more you’ll win. But what I meant by “disporportionate” is you might pay X for the ticket but win 10 or 15 or even 100 times what you paid depending on the current state of the pool

Q6 from Telegram User @sscpaster

How qualified the team members are? Do they have enough experience on blockchain and it’s related technology? Can you mention them and their background as well?

Phil Dang | Swaperry:

Most of our backgrounds are engineering. I myself am a former software engineer at Google. Our team’s CTO was also a senior software engineer at Motorola. We have a lot of crypto experts who are our advisors. For example, one of our advisors is Thi, who founded Polkafoundry, RedKite and advisor of Faraland and several other successful projects. I believe our project is in good hands!

Q7 from Telegram User @Emidm28

You mentioned that as Polkadot is currently under development, your prediction trading will be launched on Binance Smart Chain, and will be the first product in the Swaperry platform. Once the development of Polkadot is completed, will it also be launched on Polkadot?

Phil Dang | Swaperry:

Yes of course. Prediction trading can take place on different blockchains too, but the focus for our DEX is still Polkadot

Q8 from Telegram User @Sharajelln2

i haved stumbled across the topic of blockchain with my colleagues at Google many times, but last year was when I was heavily drawn into by it you said.

 do you think now YOU are success??  What’s  the difference now and then?

Phil Dang | Swaperry:

Great question.  So far I think my choice to leave has been correct, but it all depends on the success of our launch too!  Which is why I’d love to have you and this community join us on this journey 🙂

Q9 from Telegram User @K2ice

Do I need to continue buying an UP ticket or a DOWN ticket to predict the direction of an asset for each prediction or I will just have to buy a ticket once for all my predictions?

Phil Dang | Swaperry:

Each pool has an expiry date. For example, say 1 week/So you can buy as many tickets as you’d like, but it’ll all be wrapped up within a week

Q10 from Telegram User @bathulosnom

The blockchain industry is one that changes really quickly. So, in future if there is another project with more innovation come what will you do? Do you think you can change yourself as the technology changed?

Phil Dang | Swaperry:

I sincerely hope so.  While I can’t promise to always be one of the top innovators in the industry, our team and I do intend to.  We are here for the long run, and we wont stop until we have a well-deserved space in this industry.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Swaperry. They’ve prepared 4 questions for this part. The total reward pool for 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/

Our partners:

Swaperry Website – swaperry.com
Swaperry Telegram – @swaperry

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

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

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

Part 3: 300$ – A quiz about Port

For more details:
Port Website – port.finance
Port Telegram – @port_finance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish