We are pleased to announce our next AMA on September 23rd 2021 at 05:00 PM UTC Time: Satoshi Club x Monsoon
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Monsoon Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Monsoon Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Monsoon
For more details:
Monsoon Website – monsoon.finance
Monsoon Telegram – @monsoonfinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
In Monson users provides a zero-knowledge proof that they deposited funds into the Monsoon contract and the withdrawal is processed on-chain.The use of the zero technology satisfies the need of no disclosure of transaction details and the exact deposit amount.My question is,Suppose the content of the transaction voucher is accidentally leaked, wouldn’t a third party know the source of the withdrawal?And if a user forgets their transaction information and all the data associated with it what then happens to the persons withdrawal?Will the user be able to retrieve it?Thanks
Since MonSoon uses zk-SNARK it is necessary that a Trusted Setup is required which you have already done on your platform and you also said that as long as at least 1 contribution is honest, the zkSNARK keys are secure.My question is, Isn’t Trusted Setups vulnerable to manipulation where an attacker can undermine the system’s privacy?Don’t you think just 1 contribution will make the zk-SNARK keys less secure?When will you conduct a Trusted Setup Ceremony so that users can participate in order to have a completely immutable,more secure and unstoppable platform?Thanks
You mention three steps users need to go through to get started with using Monsoon Finance.First,Users have to Deposit cryptocurrency into your contract in increment of your token,Can you please tell us how many deposit one can make in your platform in a day?Second,Users have to Wait before they make the next deposit to enter Monsoon contract,so after the deposit how long can one wait before making more deposits to your contract?Lastly,users are allowed to withdraw funds which is quite easy,for every transaction made is there any charges fee for that?If yes,at what %?
Dear Monsoon! Thanks for the great project and your vision to bring more to the fundamental right of privacy of your customers. Monsoon has announced an Mcash IDO on September 27th , 2021. Could you provide more details about whitelisting process and Mcash IDO. What is the price for Mcash?
Monsoon Finance is still a developing project with agressive competitors like Tornado Cash, Solbank or Secret Network. What makes Monsoon different from them and what are your advantages for end users? Is there any revolutionary approach compared to your competitors? Thank you!
Monsoon aims to be completely decentralized and community governed, could you explain how do you provide the power to your users to be part of the evolution and decision making of the platform? What are the benefits of being a MCASH holder and how do you incentivize the holders to participate in the governance method?
Can you explain to us what the Trusted Setup Ceremony means for your ecosystem? How do zkSNARKs contributors contribute to improving the security, privacy and growth of the platform? Also, how are they rewarded for their actions?
Today, we can see people use NFT features to store real estate assets/belongings to provide an ease of transaction and to improve ownership. Aside from the usual day-to-day coin/token transactions, can Monsoon Finance’ provide privacy to transactions that includes NFT-backed real estate assets? Can your zk-SNARKs mechanism protect and hide the true identity of the user and ultimately, the address of such real estates?
I’ve learned that Monsoon Finance was developed from a fork of the known decentralized protocol for private transactions, Tornado Cash. What do your think is the technical advantage that Tornado Cash offers that your decided to base your project with it? What similarities does Monsoon Finance and Tornado Cash shares? Also, what are the added-features that you included upon developing the project?
Moonson Finance uses uses zk-SNARKs to interfere with the transaction and apply its privacy measures/features with it. Can this added measure alter the speed and efficiency of the transaction itself? Will the estimated transaction speed and TPS of the blockchain/network change when we apply your privacy product to our transactions?
It caught my attention that Monsoon manages to improve privacy by breaking the chain link between source and destination addresses, but does this Monsoon technology really work in conjunction with the Zk-Rollup mechanism used in most projects that use privacy? Is it enough to break the link?
If there really is no way to link the deposit to the withdrawal, then does that mean that the transactions with Monsoon will not have any kind of verification if the transaction was made successfully?
I could read that Monsoon is a fork of Tornado Cash, does that mean that this same privacy that Monsoon provides, is offered by Tornado Cash? If so, then what additional innovation or solution will Monsoon provide?
I understand that privacy is always important, but it is also necessary to carry out auditing processes to give users confidence, therefore, have you already conducted an audit of Monsoon? If not, how many do you plan to do and when?
If Monsoon is actually built on the BSC public network, which has BSCscan where it can verify transactions, then how will Monsoon prevent these transactions from being displayed on BSCscan? op will be shown but without destination account?
Will Monsoon only support fungible token transactions? Or will it also provide privacy for those made with NFT assets?
I understand that Monsoon provides great privacy, but in addition to this, does it also offer its holders passive income? If not, could you explain what you mean by the 0.1, 1, 1, 10, 100 increments you state on your website?
As we all know BSC transactions are extremely fast, almost instantaneous, but now that Monsoon will incorporate privacy, will it cause any side effects that will affect this great speed, or can it really be adapted without any problems?
Users will be able to privately deposit assets onto the Monsoon Substrate blockchain and privately swap them for any other supported assets using the Monsoon Discovery Network. How safe is the privacy offered to users in the platform, and what is the strategy to achieve it?
Monsoon Finance brings Anonymity Mining to the table
When the token is launched and publicly available, would you explain the process to participate in anonymity mining?
Monsoon is completely decentralized, controlled and governed by its community. It is very important that you involve the community in Monsoon’s decision-making process. You mentioned that by acquiring MCASH tokens, we can participate by voting on governance proposals and weighing in on the evolution of the protocol. Is there a way to increase our voting power within the ecosystem? If we have more tokens, will our voting power increase proportionally?
On your website you mention that one of the advantages of your platform is that you can earn token rewards without the effort, so is this a type of passive income? Can you explain what options do you offer to retail investors? And in how long is it possible to recover the initial investment using your tools?
This question does not belong to this AMA, it belongs to Sheesha Finance
Your platform offers the possibility to diversify the portfolio in a hassle-free way, can you tell us what innovative tools your portfolio features have that no other protocol has? Also, how can we be sure that they will be 100% protected? Will you show a live interface of possible financial risks?
This question does not belong to this AMA, it belongs to Sheesha Finance
Before investing in a project, investors like to take the time to do their research on the project, read the entire whitepaper, and also the tokenomics. I checked the Monsoon website but I did not find the tokenomics or the whitepaper. When will this information be released? It is really important! When will you share more details with us about your token? Are you already working on it?
I see that Monsoon refers many times to keeping swap transactions totally private, can you explain to us what technology the platform uses to avoid traces of transactions on the network and preserve the anonymity of users?
On your website you mention that validators will run a PoS Substrate-based chain, it is known that PoS consensuses are particularly energy-saving, you can tell us the main advantages of using this consensus and what is Monsoon’s position regarding energy saving ?
When making a withdrawal, Monsoon users must provide zero knowledge proof of how to deposit their funds into the Monsoon contract. In the event that an error occurs and these tests have not been submitted, what would happen to these funds? If lost, does Monsoon make it easy to get this deposit back?
Wait, the user must wait for more deposits to enter the Monsoon contract. Maximum how many deposits are needed to enter this contract?
Monsoon improves transaction privacy by breaking the chain link between source and destination addresses. Could you give us a brief explanation about the breaking of these contracts? How does Monsoon break the bond of these chains?
Monsoon recently announced a partnership with Router Protocol, a platform that runs Dfyn.network, the second largest DEX on Polygon by liquidity and volume. What is the rationale behind this partnership? What should we expect from this recent partnership? Will there be a similar partnership with other platforms like Router protocol? I also read about Monsoon investors and discovered that you have a hood number of great investors which includes NGC, LD Capital, Shima Capital, Part One Capital, Bullperks, Genblock, AU21, Sandeep (Polygon cofounder) and PrimeBlock Ventures/MXC. Are we to expect other investors in the future? What are the strategies used by Monsoon to attract such number of great investors?
From your roadmap, by the end of the year 2021, you plan to complete the alpha version of Monsoon’s decentralized privacy bridge. Aside that, you are also building out a private decentralized exchange on a Substrate-based blockchain. If I really get this right, Does it imply that one will be to privately bridge assets to the monsoon blockchain and swap them for other assets? Can you explain further what Monsoon choose to achieve with this upcoming development?
While researching for this AMA, I came across that Monsoon Finance is a fork of Tornado Cash. What is the reason for seperating from Tornado Cash and developing an own protocol, privacy bridge and a privacy DEX? Compared to Tornado Cash, what are the unique features of Monsoon Finance? In the future developments, will there be an impact of Tornado Cash or do you have an idependent journey? When invest in Monsoon Finance, do Tornado Cash users get priority or any special priviledges? Will eary investors in Tornado be considered early investors in Monsoon too? What are the benefits that Tornado community gets from joining with Monsoon?
It caught my attention that Monsoon Finance offers a feature called ‘anonymity mining’. How does it differ from regular mining? You have indicated that we will be able to mine $MCASH when it is launched and publicly available. How many tokens can be minted per day? Can you please give us a clear idea about this mining process? You have not mentioned about any burning activities. How do you generate a scarcity to prevent $MCASH from being undervalued? Surprisingly, the token is yet to be launched although you have developed the concept. What is the reason for this delay? What is the estimated time period for the token launch? When will early investors get an opportunity to join?
Monsoon Finance has paid attention to ensure the privacy of users. Thank you for your effort. However, you have mentioned that there will be no link between the withdawal and the deposit as a measure of ensuring the privacy. This point is not clear to me. Can you please explain how does this prevention of linking help to ensure the privacy? Further, what are the steps you have taken to perform withdrawals and deposits without a link? In addition to ensuring the privacy, do the users receive any advantages from the implementation of this model? Will this model work as a catalyst to grab more investments to Monsoon Finance?
You said When the token is launched and publicly available, by using Monsoon user will also mine MCASH, the governance token of Monsoon Finance. The more user use it, the more say user have in the evolution of the protocol.
Please can you help explain what ‘say’ you are talking about here?
Will I have any other offer from mining MCASH? HOW CAN I TRUST MONSOON FINANCE NETWORK IS THE BEST PLATFORM TO INVEST IN?
IDO project MonsoonFi launching on Polystarter on 27th September. Why MonsoonFi choose Polystarter as a partnership on IDO? And how to be eligible to participate in MonsoonFi IDO?
As a project whose major purpose is building a suite of privacy tools for every DeFi user, Monsoon has built it’s project on BSC mainnet, Polygon Testnet and Avalanche Testnet. As you accelerate the rollout of products and services on these chains, may we know why you specifically chose these 3 chains, when should we expect full migration and integration of your services and products on Polygon and Avalanche Mainnets, and what other public chains will the Monsoon protocol support as project development progresses?
During the process of utiliziing the features and privacy tools of the Monsoon platform, it is emphasized that every withdrawal activity pays a governance-defined fee which is used to burn MCASH tokens. Can you let us in on the average percentage fee charged as withdrawal fees on the platform, and asides your withdrawal fees, are there other underlining fees charged for using your platform? Also talking extensively on your governance model, is your governance feature fully incorporated and functional, how can community members effectively exercise their rights when it comes to major platform and protocol decisions?
I found out that with Monsoon Finance,users will be able to privately deposit assets onto the Monsoon Substrate blockchain and privately swap them for any other supported assets using the Monsoon Discovery Network. If users will be able to privately deposit assets onto the Monsoon Substrate blockchain,how can we assure that the funds being deposited is safe and secure? Can you explain more about the Monsoon Discovery Network? What advantages and benefits of Monsoon Discovery Network? Thank you
Monsoon Finance $MCASH IDO will be launching on both 0xPolystarter & Bullperks on September 27, 2021. So,can you share an advance information about the Monsoon Finance upcoming IDO?Why do you choose 0xPolystarter & Bullperks to host your IDO? What are the advantages and potential you see this two launchpad platforms to host your IDO? How can anyone participate and be whitelisted in your IDO? Can you share some details of your whitelisting process? After your IDO,what is your next step to do? Which DEX or CEX exchanges we can expect for $MCASH to be listed with? Thank you
Since transactions on Moonsoon will be done almost anonymously. I am assuming KYC will not be done for users. You are also using a relayer to keep transactions private. I feel this can be attractive to hackers who may want to exploit your privacy features. What security efforts have you put in place to ensure user’s assets are safe?
Do you have a way of establishing the real identity of users during transaction since no KYC has been done?
Moonsoon ssupports Multichain Privacy Bridge where users can deposit assets on one chain and privately withdraw them on another chain. Is this the only option available for transaction or can withdrawal still still be made on the same network that deposit occurred?
Apart from voting in governance proposals, is there any other benefits of acquiring $MCASH token?
If there are, can you highlight them.
Monsoon platform will hold the initial IDO on Polystarter & BullPerks Launchpad on 27th of September. Can you give a brief description of your upcoming IDO? Why will you go for two Launchpads at Same time? How much is the IDO allocation of $MCASH? Can you tell me the IDO price of a $MCASH? What about the whitelisting process, Could you tell us how to be whitelisted? What are the terms & conditions, you already imposed to the community in Participating the IDOs on both launchpads? Will you add the KYC for every user who hope to participate in IDO? In whitelisting process, Polystarter have announced that they run a whitelist competition with five Whitelist Spots to win for their community. What about the BullPerks Launchpad in this matter, Won’t they run a Whitelist competition for their community?
$MCASH play the governance role in the Monsoon ecosystem. Will the governance of Monsoon be executed by a voting system or are there any other mechanism? What are the ways that Users can get the $MCASH tokens? Do you hope to launch a $MCASH mining program in future so that users can involve in the evolution of Monsoon Protocal?
As it states, Monsoon is a hardfork of Tornado Cash project. Please provide some elementary details on this topic? Why did you built Monsoon as a hardfork of Tornado Cash though you could have start a new project with new concept? So is there any manipulation & interference from Tornado Cash team to the Monsoon project?
Strictly, I noticed that Monsoon have not deployed a native currency in addition to governance token of MCASH token. Why was that? Don’t you want to generate more transactions via a native currency rather than other Cryptos? Every project consider about the native currency since it is the key to gain more investors in to the ecosystem. Without a native token, How will you distribute dividends & rewards to the Monsoon Community? Will you never hold a TGE for the Monsoon community?