Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Cash Ape Rise Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Cash Ape Rise
For more details:
Cash Ape Rise Website – Cashaperise.io
Cash Ape Rise Telegram – @cashaperisechat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Part 1: 50$ /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50$/5 users – Open chat for 120 seconds. You can post Max 3 questions. BabySwap Spanish Team will select 5 questions and answer them.
For more details: BabySwap Spanish – @baby_swap Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Part 1: 50 /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50/5 users – Open chat for 120 seconds. You can post Max 3 questions. BabySwap Russian Team will select 5 questions and answer them.
For more details: BabySwap Russian – @baby_swap Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
We were delighted to welcome our guest from Parami . The AMA took place on July 13th, 2021 and our guest was @DorianWuAD3 .
The total reward pool was 500$ 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 Parami.
Andrés M. | Satoshi Club: Our honorable guest today is
@DorianWuAD3
Andrés M. | Satoshi Club: Welcome to Satoshi Club!
Dorian Wu: Hi everyone! Thank you both for having me here
in Satoshi CLUB. I am Dorian WU from
Parami Protocol. I am having an AMA for all you want to know about Parami,
building AD3 for Web 3.0.
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club,
@DorianWuAD3!😊
Andrés M. | Satoshi Club: Nice to meet you, we are glad to
have you here.😃
Gold Rocket | Satoshi Club: We are delighted to have you here
today.😊
Dorian Wu: I read questions from the post earlier, I find
you might all have read Parami lightpaper thru and posted quality questions
Dorian Wu: Before we start part 1, can I make a quick
self-introduction? @GoldRocket27
Gold Rocket | Satoshi Club: Yes, there will definitely be
questions from the community. Now tell us a little about yourself.
Dorian Wu: Nice to know we are thinking the same
Gold Rocket | Satoshi Club: it would be great😁 How did you get to be involved in crypto &
Parami?
Andrés M. | Satoshi Club: Of course, please tell us a little
bit about you and about the project.
Dorian Wu: so, this is Dorian WU from Parami Protocol.
Before co-founding Parami, I was the senior architect of DCEP (Digital Currency
Electronic Payment), working for the People’s Bank of China. Earlier, I was
taking the responsibility of core
architect & technical leader of TRON before DCEP project.
Gold Rocket | Satoshi Club: You have good experience👍
Gold Rocket | Satoshi Club: What is the essence of Parami?
Dorian Wu: From those jobs, I have gained much practical
experience in consensus mechanism, privacy computation, cross-chain mechanism,
etc. I hold a bachelor’s and a master’s degree in Software Engineering. After
receiving my master’s from University of Chinese Academy of Sciences, I became
a blockchain enthusiast and active investor since 2013.
Dorian Wu: My early purchase of Bitcoin and relevant study
in academia inspired me to solve problems in a novel way. Now I am all in
blockchain, co-founding Parami to explore more in the crypto world on tech side
with my amazing team.
Dorian Wu: Yes, to the Parami part
Gold Rocket | Satoshi Club: what is the main idea of the project
Dorian Wu: Parami Protocol, in essence, is to build AD3.0
for Web 3.0
Andrés M. | Satoshi Club: Great decision
Gold Rocket | Satoshi Club: Many experts consider these to be
the main directions of the next bull run.😉
Gold Rocket | Satoshi Club: You are in the mainstream🚀
Gold Rocket | Satoshi Club: I want to ask a very personal
question. Did you sell your early bitcoins😁😉
Dorian Wu: The reason for us to do Parami is quite
straightforward. We are now in such a position as web-users that tech giants
tag our preference and push relevant promotion information in every way. We do
not get any reward for our attention, our identity is not ours anymore, our
privacy get breached. No one want any of that.
Gold Rocket | Satoshi Club: Also we would like to know about
your great team. Who is on the project team core?
Gold Rocket | Satoshi Club: Your motives are obvious and
absolutely justified🚀
Dorian Wu: Thanks, I get my appropriate rewards by the
market👻
Dorian Wu: Little. I consider Bitcoin as a symbol of
belief in crypto. I only do so out of investmental reason. (This is not a
investment advice)
Gold Rocket | Satoshi Club: Like many of us. ❤️
Andrés M. | Satoshi Club: How did you choose the name of the
project?
Andrés M. | Satoshi Club: Completely agree😁💪
Dorian Wu: Regarding team, we have this senior full-stack
developer Mono WANG, a well-respected OG in the Rust community with many
independent experiences in several projects like Tron and Ledger; we have
Edison, specializing in ZKP algorithm, MPC and all about cryptology with strong
commitment
Gold Rocket | Satoshi Club: We receive information about the
tightening of cryptocurrency legislation in China. Has this affected you in
some way?
Dorian Wu: The word “Parami” in Sanskrit, commonly
translated as “perfection”, is used to
refer to Buddhist ideals. Parami means the virtues one needs to cultivate
himself/herself to cross over the flood of suffering, get reborn, reach safely
the further shore. Like the idea of Parami Protocol, it aims at establishing a
universal model for future advertising, to bring a rebirth of the digital
identity and personal data economy.
Gold Rocket | Satoshi Club: Amazing team😊 are you anonymous? if so, did you plan to reveal your names once?
Gold Rocket | Satoshi Club: This is very symbolic! And pursues
noble goals. You are real crypto fans❤️
Andrés M. | Satoshi Club: Amazing👏, an appropriate name
Dorian Wu: Not much to us, because we are focusing on
building a global community and developing core functions. Investors do go
low-key under the pressure.
Gold Rocket | Satoshi Club: Thanks for the introduction, we will
have a question selected for the Part 1. Ready to start? Or want to add
something?😊
Parami
roadmap had some very exciting plans in the Dana and Sila milestones:
–
Complete the bridge between ETH ERC20 and the Parami substrate
–
Complete the Parami wallet for Telegram and WeChat where users could binde
their social ID and DID identity and more..
– Ad
platform
– NPOS
mining
I’d like
to ask if you have completed all the milestones by now and what parts were the
most difficult to achieve to date, maybe you could mention something that had
had to be postponed for the future sprint? Thank you!
Dorian Wu: That’s what I spoke of quality question, thank
for posing.
Dorian Wu: I would say the second one, “Parami wallet
for Telegram and WeChat”, would be the most difficult yet significant
part, because it is the priority functionality we want to deliver, also the
foundation layer within the Parami Protocol. We have settled the mechanism,
developed and debugged relevant codes, tirelessly pushing it to launching, a
huge amount of commitment
Gold Rocket | Satoshi Club: yes, that’s an incredible amount of
work.🚀
Dorian Wu: If I have to prioritize the three other items,
I would go for the Bridge > AD platform > NPOS mining, I mean, they are
all important in different ways.
Andrés M. | Satoshi Club: Looking the roadmap it seems that
great things are coming
Dorian Wu: Anything you want to go further with Q1?
Andrés M. | Satoshi Club: It’s very clear for me, thanks,
would you like to proceed with the next one?😃
Dorian Wu: Definitely, committed and motivated is how I am
Gold Rocket | Satoshi Club: it seems to me that you already have
something to be proud of. but even more lies ahead.
Dorian Wu: Sure
Q2
from Telegram User @Jmagsss
One of
$AD3 token utility is SETTLEMENT, where users will be rewarded by your token
each time they interact with the ads. Can you please explain how will the
quantity of rewards be computed and calculated. Will it be based on how long
the user interacted with the ads or will it be based on which the user really
clicked the ads?
Andrés M. | Satoshi Club: Passion is the key👏
Dorian Wu: I’m glad someone is asking about user scenario.
The length of the user interacting with the ads is a factor for sure, which
entails the clicking, right?
But we can
go further, one-time measurement is not good enough for advertisers, after all,
you give the money out but don’t know where the money go.
Here we
bring up a new idea, PCAP, aka Personal Crypto Advertising Preference, to
measure users’ multiple times of advertising choices, and give appropriate
amount, so that advertisers can see real-time feedback of his/her expenditure.
Dorian Wu: If no one have further query, let’s move to the
next
Andrés M. | Satoshi Club: Let’s go, thanks for the answer
Q3
from Telegram User @yellowchamp
Parami
provides users with a light wallet based on social media platforms (Telegram,
Wechat) and a DID Avatar solution integrated into social avatars. So,can you
explain how does Parami light wallet based on Telegram and Wechat works? What
are the best features of this light wallet based on Telegram and Wechat?By the
way,why do you choose to integrate Telegram and Wechat for your light wallet?
Aside from Telegram and Wechat,do you plan to integrate other social media
platforms like Facebook,Twitter or WhatsApp or other social medias platforms in
the future? How does this light wallet used some social avatars from DID Avatar
solution? Thank you
Dorian Wu: OK, let get to the ground. We are employing a
novel technique to print your PDID (take it as an id for now) onto your avatar,
like QR code. We build bots in Telegram and Wechat for users to access such
your wallet, and encoding, decoding tools. And you can get others’ avatar to
readily send and receive tokens to/from them
The best
thing about wallet in an IM app is “LIGHT”, meaning you don’t have to
install an app, you don’t have to set up an separate account and login, your
wallet is attached to your social account.
Similar
approach can be applied to Facebook, Twitter and others, the work is to develop
respectful bots within the frame. We prioritize Telegram and WeChat for they
are easy to use and popular among IM app users.
Andrés M. | Satoshi Club: So, is it necessary to pass any kind
of KYC to use it?
Dorian Wu: it is an avatar for example, notice the dots and lines of circumference of this picture
Gold Rocket | Satoshi Club: and does it matter? which one?
Andrés M. | Satoshi Club: It seems you care so much about user
satisfaction
Dorian Wu: We are weighing the privacy against KYC action,
in principle we won’t as we can come up with a precaution against users’ abuse
Dorian Wu: it’s to elaborate the idea of printing PDID
onto avatar
Gold Rocket | Satoshi Club: in my opinion this is a great idea👏
Gold Rocket | Satoshi Club: Thanks for your answers. Ready to
proceed to the next question? Or do you want to add something?😊
Dorian Wu: let’s go ahead with next one
Q4
from Telegram User @luk4jah
Parami
Protocol had partnership with DEGO. DEGO is a cross chain NFT DEFI protocol
where anyone can mint NFTs, auction and trade them.My question is,Does Parami
Protocol also have plans of integrating NFTS on it platform?And while going
through Parami Ambassador Program I noticed that Parami have Fancy Outfit from
Parami’s Wardrobe,Can you tell us more about it and give us a sneak peak of
those outfit?
Dorian Wu: There seem to be two questions from @luk4jah
1. Yes,
NFT-integration is planned. We are thinking of NFT as unique showcase of a
user, or given a situation, a community leader, to vehicle his/her content
Andrés M. | Satoshi Club: Could you tell us more about your
current partnerships?
Dorian Wu: 2. lol this is fun. We have this “Walk-in wardrobe” campaign (I mean ambassador program👻) for recruiting ambassadors. I can show you all the 5 outfits here, or refer to the medium article
Andrés M. | Satoshi Club: Still time to join, right? Great
opportunity Satoshiclubbers 🥳
Dorian Wu: Welcome to pose your own outfit on social media
like twitter @dorianwu1
Dorian Wu: Yes, up and running
Andrés M. | Satoshi Club: Actually our next question is about
it😁, our community show a lot of
interest on it
Gold Rocket | Satoshi Club: I think one of the heroes looks like
you😁
Andrés M. | Satoshi Club: Let’s proceed with the next question😃
Dorian Wu: Beside DEGO, we have reached partnerships with
SOLV, Genesis Shards, and DuckDAO, etc, and we are exerting active effort to
expand the list
Dorian Wu: Thanks for spotting me, lol
Gold Rocket | Satoshi Club: Many famous and familiar names! some
projects were on our AMA👏
Dorian Wu: All quality projects in this quality community!
Andrés M. | Satoshi Club: Of course, only the best😁
Gold Rocket | Satoshi Club: It’s a pleasure to deal with you
too. Great answers ❤️
Dorian Wu: Honor is mine. Let’s continue
Q5
from Telegram User @antoni_azx
I saw
you published your ambassador program and there’s five categories you are
looking for: Community Paramillionaire, Social Paramillionaire, Coding
Paramillionaire, Popular Paramillionaire and VIP Paramillionaire, can you tell
us what is this Paramillionaire term? What does it means within your ecosystem
and what will be the advantages for joining your Ambassador Program?
Dorian Wu: Paramillionaire is our title for Parami
Ambassador, we hold this strong belief that most Parami token holders will
become millionaires.
So we are
looking for believers in Parami to join us, and realize the belief, for that we
welcome (strongly in need) all roles to help in different ways. Say Community
Paramillionaire to activate and expand communities, Social Paramillionaire for
create content and conduct interaction on social media, etc.
For
benefit, you can get to work with Parami core team, know the latest update, get
monthly budget, whilelisted on token offerings
You can
read the complete job descriptions and benefits in this link
https://paramiprotocol.medium.com/parami-ambassador-program-officially-launch-463b6a7f7013
Gold Rocket | Satoshi Club: Thank you for such a detailed
answer.
Gold Rocket | Satoshi Club: Ready for the last question of this
part of the AMA?
Dorian Wu: yes
Q6
from Telegram User @YomarS11
Hello! I
read in the light paper of PARAMI, in the section of Economic model of tokens,
several points that seem interesting among them we have: tender, synthesize and
governance, which generated some questions, which are the following: in what
ways Users will be able to bid for advertising opportunities using the tokens $
AD3? And in what form will the participation of users be with respect to the
chain’s parameter adjustments that they will be able to make through voting?
And what are the mechanisms that the PARAMI platform plans to use so that users
can synthesize NFT and social currencies through their native AD3 Token? Could
youtell us more about this system that your platform will implement, since it
promises to be quite interactive and dynamic for users, and what seems to be it
will allow the development and growth of PARAMI?
Dorian Wu: For the questions by yomarS11
1. in what
ways Users will be able to bid for advertising opportunities using the tokens $
AD3?
Here we
preferably call users biding for ad opportunities as Advertisers, they bid for
the ADvertising opportunities of another user’s influence, usually, in a
community. You might notice, the basic class of User can be both Advertisers
and Influencers in our system
2. in what
form will the participation of users be with respect to the chain’s parameter
adjustments that they will be able to make through voting?
There are
many aspects that voters can adjust by staking governance. By staking
governance I mean, it is a inherent feature of Polkadot Network on which Parami
is based. The rough idea is to propose a parameter to an amount, community
members will second and vote. After the deadline, aye votes exceeds a certain
ratio, the proposal will be automatically executed because it is a ready-made
interface,
3. And what
are the mechanisms that the PARAMI platform plans to use so that users can
synthesize NFT and social currencies through their native AD3 Token?
There will
be build-in functionality of swapping in our LIGHT wallet, to take care of such
needs.
4. Could
you tell us more about this system that your platform will implement, since it
promises to be quite interactive and dynamic for users.
So it all
goes back to our 3 layers. Put simply, we will present the application (main
the wallet) to common users, open AD interface to advertisers, and run the DID
and token system behind the scene
Part 2 — live questions from
the Telegram community
Q1 from Telegram User @AugusS7
I understand that the Parami protocol allows you to believe and have your own decentralized identity, but could you really tell us why it is important to have a decentralized identity, when in DeFi you can enjoy multiple products without the need to use an identity?
Dorian Wu: It is true in DeFi you do not have to have an identity to proceed, but there has to be an wallet address to send and receive tokens. It is the same with Parami.
One thing that is special with Parami is that your PDID is your wallet address and vice versa. So that you can send, receive, swap tokens on one hand, watch your interested ads on the other hand. No advertiser knows your identity, because we use ZKP algorithm to make it happen.
Q2 from Telegram User @victorogb
Parami will offer support to IM apps as part of it’s decentralized privacy advertising model. Therefore, what sort or type of IM app would Parami focus on, and how would such support benefit both parties?
Dorian Wu: We are proud to say Parami Protocol can support IM apps that feature user avatars and browsing webpages within, that basically make it all IM apps.
I take the both parties as users and IM apps. For users, the benefit is obvious, a) reward for attention, b) privacy protected, and c) smooth experience; for the apps, the more users they have, the more valuable it is, why aren’t they happy to see this happen?
Q3 from Telegram User @andrey_seleznov
Could you please clarify what pain points you are trying to solve with the AD 3.0 proposal? How exactly do you manage to make this system user-centric and at the same time increase advertisers revenue? Thank you!
Dorian Wu: we are trying to solve 3 pain points in the digital advertising industry:
1. How to establish a user-centered advertising system
2. How to gather the traffic on Web3.0
3. How to improve the ROI of digital advertising
for the question to your concern, Parami Protocol is there to transfer the value to users, making the interface easy to use. It allowing users to interact with advertisements in the browser of social media apps and get the revenue credited to their wallets.
Parami believes that the traffic of Web3.0 is no longer the traffic aggregation based on APPs or websites, but the traffic aggregation based on people (KOL, Creator, Community Owner). Parami will provide social coin-based community member value connection for these DAOs (take it for community, put simply). At the same time, DAO members usually have a common label, so the advertising and cashing method based on this characteristic will be more targeted. In a sense, advertising for a DAO equals buying the social influence of all members of a DAO.
Q4 from Telegram User @Amila19932
You have mentioned in your website that “The native token on Parami Protocol is AD3. It is a UTILITY TOKEN that can be used in 6 scenarios” Could you please explain about some of these usecases?
Dorian Wu: Yes, the 6 using cases, I will go to Synthesizing, Bidding, Settlement with an example. Let’s say, I myself, Dorian WU, is an influential fan of milk in my community so I issued $DORIAN token for my community members. Now, an advertiser Jack wants to buy my influence and promote his milk.
For a starter, Jack buys some $AD3, he exchanges $AD3 into $DORIAN (the Synthesizing). He bids the ad opportunity in my community among others (the Bidding). He pays a certain of $DORIAN to members (the Settlement)
Q5 from Telegram User @ask2lance
I noticed you have an Ambassador program for the community, please what is this Ambassador program, do you have it in many languages and how can I join?
Dorian Wu: So far we haven’t translated the article into other language because we expect ambassadors to keep a working communication in English. It is welcome to build a community in your language, at the same time we hope you can havbe a working proficiency in English
Q6 from Telegram User @Kabirkapoor9
Please share tokenomics of Parami native token? How governance works under Parami? Will there be any burning event to provide benefits to existing holders?
Dorian Wu: Check this infograph for tokenomics. The governance happens in native Polkadot frame with litte modification. There is no major burning planned so far.
Q7 from Telegram User @xperia3
In your lightpaper you identify AD 1.0 as “Era of Slavery” and AD 2.0 as “Era of Feudalism”. Finally AD 3.0 is “Era of Democracy”. When you put them like this, it seems like AD 3.0 is something very different and offers a lot more beneficial features. Is it really like this? Can AD 3.0 really meet with the expectations? Can Parami make it work sustainable?
Dorian Wu: I’d say the major difference between AD 2.0 and 3.0 is the sovereignty of your data. Can you own your data and keep it to yourself only? You cannot possibly do it unless you stay offline lifetime. In the era of AD 3.0, we have it in our hands on blockchain. In our mode, as long as the advertising runs, the value transaction will sustain the system.
Q8 from Telegram User @Zohaya
The following is included in your Roadmap. MainNet V1: śīla, MainNet V2: Vīrya, MainNet V3: dhyāna, MainNet V4: Prajñā and TestNet: Dāna. I am curious what language it is and what does it mean. Why did you prefer to name it that way?
Dorian Wu: Like our very name Parami, it is Sanskrit. words mean the 1st, 2nd, 3rd, and 4th phase of the perfection process (aka. Parami)
Q9 from Telegram User @JoanaZ
What techniques does Parami employ to ensure that corporations do not “run away” with investors’ money, and how do you ensure that users’ monies are safe?
Dorian Wu: For investors’ money, we are fully committed to the ideal world of advertising to come true. Even in a bear market like the past two month, none of our investors have expressed a word of withdrawal. We have their faithful support.
For users’ money, Parami Protocol is a code-building decentralized network, so the corporation do not “own” anyone’s money after we do IDO, the money goes freely. All we have to do is to AUDIT the code and make it safe.
Q10 from Telegram User @Sumione
Is your project a global or targeted to Chinese market mostly ? Do you have any restrictions to any regions and how will you increase adoption of non crypto investors?
Dorian Wu: No, we have no intention to develop a Chinese-centered market, but a global one. Before the uncertain regulation in China settles down, we are not doing active promotion to Chinese audience.
For non-crypto investors, I would say once the advertising operation starts to run, they will quickly realize the potential.
Part 3 – Quiz
Results
In the final part we tested your knowledge in terms of Parami . They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
We were delighted to welcome our guest from Cudos. The AMA took place on July 12th, 2021 and our guest was @blockmatt .
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 our good friends from Cudos.❤️
Paul
Mont | Satoshi Club: Today’s guest is @blockmatt! Welcome! Great to have
you here! 😁
BlockMatt
(Will never DM you first): Hey there! It’s great to be here😊
BlockMatt
(Will never DM you first): thanks for having me!
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @blockmatt!😊
Paul
Mont | Satoshi Club: The pleasure and honor is all ours 😉
Paul
Mont | Satoshi Club: How are you today? 😁
BlockMatt
(Will never DM you first): I’m doing great today (especially as i’m and
England football fan haha)
Gold
Rocket | Satoshi Club: a lot of time has passed since our last
meeting with Cudos team in January. 😁
BlockMatt
(Will never DM you first): Yes we’ve made a lot of great progress since
then
Paul
Mont | Satoshi Club: And we’re darn eager to know more 😉
BlockMatt
(Will never DM you first): Brilliant!
Gold
Rocket | Satoshi Club: it was amazing soccer ⚽️. we can
congratulate Paolo. he is from Italy😁😍
BlockMatt
(Will never DM you first): Haha congratulations Paolo!
Gold
Rocket | Satoshi Club: So let’s follow the protocol 😉
Paul
Mont | Satoshi Club: Yes, honestly it could have gone either way in many
situations. I think England could have ended being the winning team in many
occasions, really 😉
Gold
Rocket | Satoshi Club: Let’s start!
Introduce yourself please. How did you get to be involved in crypto &
Cudos?
Tell us please about your position in Cudos?@blockmatt
BlockMatt
(Will never DM you first): Sure
BlockMatt
(Will never DM you first): Hi evereyon I’m Matt Hawkins, CEO and founder
of Cudos.
My background is having previously built tech and internet businesses
since the late 90s and inception of the internet. My last business I previously
built was called C4L which was one of the UK’s largest cloud and data centre
providers. We ended up providing 1% of the UK’s infrastructure and had a global
backbone providing connectivity around the world. We ended up being the UK’s
data centre largest marketplace.
BlockMatt
(Will never DM you first): Our aim has been to build a global compute
network which powers blockchain and traditional computing. By using the spare
computing that is available in the world of over 500 million suitable and
underutilised devices to create a greener cloud computing that exists today.
Gold
Rocket | Satoshi Club: In fact, Сudos is one of those amazing
projects that we love very much at Satoshi Club.❤️
BlockMatt
(Will never DM you first): That’s fantastic, we love working with you
guys as you have one of the best communities in crypto!
Gold
Rocket | Satoshi Club: Thanks for your kind words🤗
Paul
Mont | Satoshi Club: We know that the actualy cloud computing panorama is
vastly inefficient and Cudos aims to change that 🙂
BlockMatt
(Will never DM you first): Absolutely!
Paul
Mont | Satoshi Club: I’d love you to comment on that – and since the very
first question from our community is right onto the topic, I’d say let’s get on
with it, shall we? 😉
Gold
Rocket | Satoshi Club: Well! You make really good intro! 👏
Gold
Rocket | Satoshi Club: Thanks 👍
BlockMatt
(Will never DM you first): Thanks! 😊
Gold
Rocket | Satoshi Club: We will have a question selected for the Part
1. Ready to start?
BlockMatt
(Will never DM you first): Yes I’m ready😊
Q1 from Telegram User @orlemys
On your website you say that one of CUDOS platform
benefits, it’s that the ‘Environment Wins’ because you would be making better
use of the great numbers of underutilized hardware. However, all crypto-related
procedures, whether it be blockchains and nodes, or money-making cases like
farming and staking, are extremely harmful to the environment. So, how is
making use of idle IT hardware for crypto, more beneficial to the environment?
Why did you decide to market your project like this? What are the exact methods
you use to make your platform more eco-friendly, if it is, and why haven’t we
seen this method adopted to all crypto protocols?
BlockMatt
(Will never DM you first): Great question!
Firstly by using underutilised hardware we can reduce the carbon footprint of the cloud industry
dramatically! These underutilised machines are currently running everyday all
accross the world contributing to CO2 emmisions without adding any value to the
world. By using this hardware, not only does it reduce the need for additional
hardware to be produced it also contributes towards a more efficient ecosystem.
As well as that our network will be a proof of stake network, which cuts
our carbon footprint by a large amount in comparison with proof of work
networks.
We’ve also recently partnered with ClimateTrade who will be supporting us
in our mission to become a carbon neutral blockchain, which you can find more
on here:
https://finance.yahoo.com/news/cudos-partner-climatetrade-become-carbon-123000249.html
Gold
Rocket | Satoshi Club: This is a very good partnership. I know you
have a lot of influential partners. Want to share with us?
Paul
Mont | Satoshi Club: This is not only a desirable improvement, instead it
is a necessary change. The world’s moving towards eco-sustainability. Really,
CUDOS to you guys! 👏👏👏
Gold
Rocket | Satoshi Club: Сudos is green! 👍
BlockMatt
(Will never DM you first): Thanks guys!
We have many great partners and advisors, including, AMD,Algorand,
Animoca Brands, Ultra, Outlier Ventures and many more!
We are a key partner of AMD , the chip provider. Our software is running their blockchain partnerships, also we are
releasing in a few weeks and AMD branded version of our software enabling
anyone to monetise their hardware. We
get access to their entire community. We
work closely with their R&D team. We
are bringing out an enterprise version of the software later in the year
enabling their enterprise clients to use our network.
We also have great advisors like Chris Deering the former CEO of Sony
Playstation, helping us to expand the world of distributed computing across as
many hardware types as possible.
Gold
Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to
the next question?
Paul
Mont | Satoshi Club: I’m indeed impressed by the long list of quality
partnerships and reputable backers behind the project. Amazing is the right
word! 🚀🔥🔝
Q2 from Telegram User @victorogb
The Cudos network, over the course of it’s
development would operate a marketplace for DApps which would be used by any
developer requesting work through the Cudos smart contract. It is also stated
that Cudos will allow developers publish their DApps on it’s network. Even as
these services and marketplace are highly commendable, are there specific
usecases and genres to the type of DApps available in the Cudos Marketplace,
and since Cudos integrates only with Ethereum and Algorand 1st layer networks,
wouldn’t this limit the number and type of developers willing to publish their
DApps on your network, and how can these developers earn a tangible revenue
from their published DApps?
BlockMatt
(Will never DM you first): Cudos is built using the Cosmos SDK and
Tendermint architecture. This not only provides speed to market due to the well
established building blocks available, but it also provides us with a protocol
providing governance over the network. In future releases we absolutely want
our community to be able to vote on key decisions and also network
healthiness… i.e. validators can be voted in and out based on performance, to
ensure the network is always at it’s strongest.
Cudos itself is a network for developers to build on as you mentioned,
and it will become a blockchain for new projects to launch on (token). Using
the Tendermint architecture, there are a number of modules including NFT,
oracles, governance, etc that we will support.
So for NFT’s specifically, whilst our network supports NFT issuance and
we are bridging to Ethereum to support the ERC 771 token format, the creation
of NFTs or the developers of NFT marketplaces will be users of the network
rather than ourselves. Our focus is on building the foundation and providing
the tools for these developers/consumers.
Liquidity is of course important for a network to succeed with use case
like NFTs. We are therefore working with a number of exciting projects and
platforms that already have an NFT user base. Whilst I cannot share details
yet, the use cases stretch across entertainment and sports.
Gold
Rocket | Satoshi Club: Thanks for great answer!
Paul
Mont | Satoshi Club: Yes, very in-depth, thank you very much!
BlockMatt
(Will never DM you first): No problem😊
Paul
Mont | Satoshi Club: By the way, will there a pre-determined service
pricing to enjoy Cudos services?
Gold
Rocket | Satoshi Club: Everything is clear to me! if Paolo has no
additional questions, I suggest jumping to the next question😊
Paul
Mont | Satoshi Club: And also, if so, will you accept fiat and crypto as
well?
BlockMatt
(Will never DM you first): We’re still working on the specific details
but we will definitely accept crypto!
BlockMatt
(Will never DM you first): as well as fiat.
Paul
Mont | Satoshi Club: Great! Thank you very much for your answers
@blockmatt 😉
Gold
Rocket | Satoshi Club: By the way, Paolo and I recently discussed
that we would like to have tokens in the crypto portfolio. where can we buy
$CUDOS 😊
Paul
Mont | Satoshi Club: Yes, that is indeed a very important question, thank
you very much Gold 🔥😉
BlockMatt
(Will never DM you first): That’s great! You can get your hands on CUDOS
tokens on Uniswap, AscendEX (formerly known as Bitmax), Kucoin and Gate.io
Gold
Rocket | Satoshi Club: Thanks for sharing😊
Gold
Rocket | Satoshi Club: I suggest moving on to the next question🚀
Paul
Mont | Satoshi Club: Here we go
BlockMatt
(Will never DM you first): Let’s go
Q3 from Telegram user @Jmagsss
First of all, I must congratulate you for the
successful implementation of the Cudos’ Private Testnet, “Cognitum”. My
question is about the current public testnet which is the “Somniorum”. Can you
share with us any updates of this testnet, how is it going and what can we
expect after its successful implementation? Also, can you tell us your
preparations for the anticipated upcoming of “Ingenii” Mainnet?
BlockMatt
(Will never DM you first): Thank you! and great question!
We’ve made a lot of great progress with our testnet, which you can find
out more about here:
https://medium.com/cudos/cudos-labs-cognitum-testnet-update-08-07-2021-b16f6113e93d
While Ethereum is the first Layer-1 blockchain we plan to interoperate
during our Mainnet launch, we plan to expand our compute offering to an ever
wider array of DLT networks. On the Cudos Network, developers, individuals and
businesses will be able to deploy next generation smart contracts that leverage
Ethereum Virtual Machine (EVM) and Ethereum Web Assembly(eWasm)-based smart
contracts with equal security assurances to traditional blockchain networks,
but with the added benefits of faster transaction speed, fundamentally lower
transaction costs, and the ability to design special purpose workflows that
extend beyond the current limitations of Solidity as a smart contract design
language. This includes the pioneering ability to embed high performance
compute workflows into the very fabric of the next generation of blockchain
smart contracts, unlocking an extensive array of additional use cases.
Paul
Mont | Satoshi Club: Thank you for the detailed answer 🙂
Paul
Mont | Satoshi Club: By the way, are there any bounty programs and
incentives for Testnet users currently or in store for the near future?
BlockMatt
(Will never DM you first): Definitely, we’re currently building out the
incentive structure and we’re working closely with Bugcrowd to develop a bug
bounty programme to further reinforce the security of our network.
Paul
Mont | Satoshi Club: One more reason to closely follow CUDOS updates 😉
BlockMatt
(Will never DM you first): Absolutely!
Paul
Mont | Satoshi Club: Thanks again for your answers @blockmatt! Next
question is ready to be answered. Are you ready? 🙂
BlockMatt
(Will never DM you first): Yes, bring it on!
Q4 from Telegram user @ysasoma
In your web site you mentioned the CUDOS Validators
and indicated that us, as users, we can BUY or RUN an approved CUDOS validator
server, which will give us a series of benefits. Could you please expand a
little more on the information related to these Validators, how useful are they
within the CUDOS network, what should we do to activate this service and how
often should it be renewed?
BlockMatt
(Will never DM you first): Great question!
The Cudos blockchain’s ability to leverage a strong community of
validators with robust node infrastructure, who in turn assure users of the
Cudos Network a high level of confidence in the various enterprise and
developer use cases that are subsequently deployed on the network. What makes
the Cudos Network stand out from other blockchains is the deep level of
integration for high performance compute capacity at the very core of the
network.Validators, meaning individuals who have financially committed funds
through a process known as staking, notarize, and in fact validate, every
transaction proposed onto the network with high availability and trust levels
that are assessed in a real-time and predictive manner. The Cudos Network
rewards the most performant validators with predictable income streams and
rapidly removes bad actors from its Proof of Stake network in order to assure a
greater level of security for all participants. The combination of these
factors, incentivise any individual today, from financial investors to
data-center or compute infrastructure providers, to interact reliably on the
Cudos network to either buy or sell compute capacity at scale. Validators and
Rewards Validators play a special role in the Cudos Network’s day to day
workings. They validate blocks, perform complex security checks on proposed
transactions, interact with other stakeholders in various Governance votes that
ensure the network’s security, integrity and viability on an ongoing basis. In
addition to this, the Cudos Network’s bespoke architecture provides metering
and high performance compute in a programmatic manner which heavily depends on
the network’s validators being highly available, highly performant, and retain
their bona fides as good actors over time.
Gold
Rocket | Satoshi Club: The benefits are obvious! 👍
Paul
Mont | Satoshi Club: Wonderful, detailed answer thank you!
BlockMatt
(Will never DM you first): We think so too!
Gold
Rocket | Satoshi Club: Thanks for your answers. Ready for the next
question 😉
BlockMatt
(Will never DM you first): I’m ready🚀
Q5 from Telegram user @Niko518
We are all aware of it. The majority of projects
have a slew of internal risk and security policies in place. Can you tell us
about the security features of CUDO? Is it possible that CUDO will be
centralized, or is this project entirely decentralized or “anything
in-between”?
BlockMatt
(Will never DM you first): Right now we have around 30 reputable and
trusted validators spread accross the globe. W aim to have 100 by the end of
the year and after that we’ll open up the network to an unlimited amount of
validators, to further decentralise the network.
All of our smart contracts are audited internally and externally by
Certik and Limechain, and on top of that we will be hosting many bug bounties
to further enhance the security of our network. Security is a high priority for
us!
Gold
Rocket | Satoshi Club: Safety first🙌
BlockMatt
(Will never DM you first): Exactly!
Gold
Rocket | Satoshi Club: You have a great goals 👌👏
BlockMatt
(Will never DM you first): Thank you🙂
Gold
Rocket | Satoshi Club: I really like that you are ambitious and
consistent👏
Gold
Rocket | Satoshi Club: Do you want to proceed to the last question of
this part?
BlockMatt
(Will never DM you first): absolutely
Q6 from Telegram User @andrey_seleznov
Hi Cudos!
I’d like to learn more about the CUDOS foundation!
It aims to support developers who are willing to contribute to the development
of blockchain technologies by developing improvements and applications for the
CUDOS network. This is a great initiative but I am sure there will be some bad
actors posing as developers hunting for the money. How will CUDOS review and
filter all the applications and pick the candidates who will receive funding?
Will there be a preference to certain fields where applicants are more likely
to get a grant, such hot area as DeFi comes to mind. Thank you!
BlockMatt
(Will never DM you first):
As we’ve partnered with great companies such as AMD, Ultra and Animoca
Brands NFT’s and gaming is a vertical that will be very popular on our
platform, for which there will be several great oppurtunities for developers.
Defi is definitely a hot area which is very aligned with many of our partners.
We will have support from Limechain and our internal product team when it
comes to auditing the network and removing bad actors.
Gold
Rocket | Satoshi Club:
You thought it out really well! 😊
Paul
Mont | Satoshi Club:
Definitely two of the top and reputable players in the space, great! 😉
Paul
Mont | Satoshi Club:
Thank you very much for the clear answers @blockmatt! You’ve been
outstanding so far! 😉
BlockMatt
(Will never DM you first):
Thank you!
Part 2 — live questions from
the Telegram community
Q1 from Telegram User @sweetdoge
What is Cognitum and how can I test it? Are there any way to join it with metamask and kovan network?
BlockMatt (Will never DM you first): Cognitum is the first phase of our testnet, there will be metamask intergration once we open it up to the public, keep an eye out for some more news regarding this coming very soon!
Q2 from Telegram User @Rakshitx5
Does the Name Cudos mean Kudos?
BlockMatt (Will never DM you first): Cudo is latin for Coin /money, Kudos means good essentially, and we want to create good and better use of global computing and enable anyone to earn off their hardware and items they purchase, hence the merging of the 2.
Q3 from Telegram User @cryptofollower
Why did you choose AMD as your chip partner and not intel or Nvidia? And are you using cpu or gpu’s?
BlockMatt (Will never DM you first): AMD are very established in the hardware space and are very forward thinking when it comes to blockchain technology, they even now have a blockchain department, which makes it a very good fit for us. We are also working with AMD to add SEV to the validator network providing an extra layer of encryption.
Q4 from Telegram User @nitrogenpower
Is Cudos project built in UK? UK recently blocked Binance. How do you deal with the regulations of United Kingdom?
BlockMatt (Will never DM you first): This is a great question, we have a great team of industry experts and legal experts that continiously work to ensure that we are compliant and within the parameters set by regulators so we are very confident in termas of where we stand with regulators.
Q5 from Telegram User @Kabirkapoor9
How anyone can contact CUDO team for collaboration? Do you have any email? Or any other media link for this?
BlockMatt (Will never DM you first): Sure please forward all enquires to marketing@cudoventures.com 🙂
Q6 from Telegram User @Ashia_24
Last January, CUDOS held an AMA with Satoshi, so what progress has CUDOS made so far, what’s new?
BlockMatt (Will never DM you first): Since then we’ve brough on board 30 validators. Our team is close to double the amount of employees since then. We’ve listed our token on 4 popular exchanges. Launched our private testnet and we’re now in the final phases of the rollout of our staking platform.
Q7 from Telegram User @csgonub
Do you listed CUDOS on any centralized exchange and if yes what do you recommend us to invest from decentralized or centralized exchange?
BlockMatt (Will never DM you first): This is totally up to you! We will be listing on many more exchanges in the near future to give you all more options to choose from.
Q8 from Telegram User @victorogb
Can you kindly share some of the supported wallets for storing up CUDOS assets and what are the available application platforms (mobile, web or both)?
BlockMatt (Will never DM you first): Any wallet that supports erc20 tokens will be able to store CUDOS tokens
Q9 from Telegram User @Thealitad
Is there any ambassador program on your platform? Can anyone apply as an ambassador to your project? What is the advantage of being ambassador to your platform? Can you share some information about the ambassador Program?
BlockMatt (Will never DM you first): We do have an ambassador programme which you can find here: https://www.cudos.org/ambassador
Q10 from Telegram User @coinresearcher
What architecture and SDK are you using to building Cudos and are there any vote opportunities for governance?
BlockMatt (Will never DM you first): Cudos is built using the Cosmos SDK and Tendermint architecture. This not only provides speed to market due to the well established building blocks available, but it also provides us with a protocol providing governance over the network. In future releases we absolutely want our community to be able to vote on key decisions and also network healthiness🚀
Part 3 – Quiz
Results
In the final part we tested your knowledge in terms of Cudos. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
