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 Swarm Network and our
guests were @TokenAddict @daniel198913. The AMA took place on 17 May.
The
AMA session was divided into 3 parts with a total crypto reward pool of 500$
In
this AMA Recap, we will try to summarise the most interesting points for you.
Part
1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello, dear community!
We are pleased to
announce AMA with Swarm Network
Today our guests are
@TokenAddict @daniel198913!
Andrés M. | Satoshi Club: [ Sticker ]
Token Addict:
Hi everyone 👍
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys!
Andrés M. | Satoshi Club: How are you today?
Daniel:
Hey everyone!
Andrés M. | Satoshi Club: Welcome!
Daniel:
I am doing great, thank you for asking!
Gold Rocket | Satoshi Club: We are very excited about the upcoming AMA, and
you?
Daniel: Of course, we are honoured for the
opportunity to be here with you today!
Token Addict:
Great thanks, nice to be here today and tell everyone about Swarm!
Andrés M. | Satoshi Club: Well, we are
excited for this AMA session, could you please introduce yourself? We would
like to know more about you😃
Gold Rocket | Satoshi Club: Well! Let’s start
Introduce youreself
please. How did you get to be involved in crypto & Swarm Network?
Tell us please about
yourself and your position in Swarm Network.
Token Addict:
Swarm is entirely decentralized, its has its own elected DAO call the SNC
(Swarm Network Council) effectively these are community members that assist
strategically.
I have been involved
with Swarm for a number of years, simply as an active community member and
leading on development of the technical side for Swarm Networks open source
tools for tokenization.
Daniel:
My name is Daniel Faria, I’ve been involved in this space since 2015 . I’m an
entrepreneur who has founded a few succesful companies and believes in the
future of Tokenization and I have joined the Swarm Council to provide
mentoriship and credibility to this very ambitious project.
Andrés M. | Satoshi Club: Great background
Token Addict:
I came into being interested in Swarm as I have always feel strongly that
blockchain and tokenization has huge potential, aligned with Swarms open
nature, it was a good fit.
Gold Rocket | Satoshi Club: Thank you for sharing! Great experience for good
project👍
How long does it take
to develop a project? What plans do you have for the future? And what can we
expect from Swarm Network?
Andrés M. | Satoshi Club: And how big is your team?
Daniel: Swarm
will always be fully decentralized and adopts the same philosophy of projects
like Uniswap, Rocketpool, etc. We are strictly focused on enabling this
movement and have partners in our community assisting with regulatory needs and
onboarding issuers through our app. Our code has been open-sourced and we aim
to remain fully decentralized from a technology perspective.
Our team has over 10
people
Gold Rocket | Satoshi Club: Sounds good!
Andrés M. | Satoshi Club: Well, we are excited to know more about the project
through the community questions we have collected
Are you ready?
Token Addict:
Sure
Q1 from Telegram User @johana0012
Swarm Network’s SRC20 protocol is an open,
permissionless standard that allows anyone to build on the foundation and fully
empowers the user with the ability to create compliant digital assets. Is Swarm required as a fee for services to
mint tokens in Swarm’s SRC20 protocol?
Has the Swarm Network team considered implementing NFT usage on their
platform to enhance various features?
What are the fundamental characteristics that the Swarm Network protocol
complies with?
Daniel:
Market Development Partnerships:
1. Early-Stage technology companies who are developing
crypto projects and want to fundraise by issuing tokens.
2. Tokenization of
NFT’s by partnering with NFT companies & artists.
3. Marketing campaigns for Fast Consumer Goods
companies (tokenizing cups of coffee, for example)
4. Tokenization of Assets
including collectibles, real estate, art, natural resources, funds, and more.
Due to the complex
regulatory market of tokenization globally, from a roadmap perspective we have
realized that in order to successfully execute our vision, we need to start by
working with assets and projects that are familiar with the crypto space. We
will have our community leaders focused on the development of the following
market plan:
Andrés M. | Satoshi Club: Which NFT companies have your partnered until now?
Token Addict:
None to date, but this is a area we are investigating with a number of
potential partners.
Swarm has had many
prestigious offerings run on the technology layer, even Siemens Energy Systems
has worked with Swarm.
Andrés M. | Satoshi Club: Great so, how hard would be the process to create
our own Satoshi Club token for example?
Token Addict:
Very simple. the UI is extremely easy to use to both create and manage digital
tokens.
This includes features
to create whitelists, transfer rules. run a fundraiser, distribute dividends
and more. All with a few clicks and no code knowledge needed.
Andrés M. | Satoshi Club: Is it easy even for non crypto users?
Token Addict:
Anyone can use this, permission less to create and manage tokens. A metamask
wallet is all anyone needs, and since they are Ethereum based tokens, secondary
markets are not an issue versus providers building on their own chains.
Daniel:
Correct, very easy. This was a main selling point for me , and we are creating
a tutorial and videos so people can easily see from start to finish how to get
it done. This is part of our roadmap.
Token Addict:
I would say like anything in crypto, one needs a basic level of knowledge OFC
just to understand what tokens are and gas etc to deploy… but yes the UI
would be pretty easily understood and usable for anyone.
Gold Rocket | Satoshi Club: So, it’s a mass adoption 😁
Andrés M. | Satoshi Club: Well done guys, that’s the way to increase the
adoption
Gold Rocket | Satoshi Club: Thank you for such detailed answers! ready for the
next question?🚀
Token Addict:
💪
Q2 from Telegram user @surendra040
I am not a profession but When I tried to use swarm
network to create or manage new tokens I couldn’t understand regarding token
features like account freeze, contract freeze and force transfer. How does this
works and do you have any plan to educate beginner s like me?
Token Addict:
Good question
So those features are
designed remember for security tokens features, securities have to be
regulatory compliant and and STO would need those.
Those controls can be
either ON or OFF, there is no need to engage those if its not an STO.
Andrés M. | Satoshi Club: Do you have some guides?
Token Addict:
Reality is if doing an STO, one would have legal guidance on what is needed
before configuration. We already explain all the features on the Gitbook and
what they do.
But like Daniel says,
we can have a education library also, videos on issuance etc…
Daniel:
https://docs.swarmnetwork.org/
Token Addict:
The UI itself if you hover over any features explains what it is in addition
Andrés M. | Satoshi Club: Thanks for share it, I think is so interesting
Gold Rocket | Satoshi Club: @surendra040 check it😉
Andrés M. | Satoshi Club: Btw, what is the token distribution of STO?
Gold Rocket | Satoshi Club: thanks a lot for the answers! do you want to add
something or we can proceed to the next question🚀
Daniel:
I’d like to share this information as valuable
complimentary details
Andrés M. | Satoshi Club: Yes please, share all the info that you want 😃
Daniel:
We are looking at the following R&D plans:
Gold Rocket | Satoshi Club: Go ahead
Daniel:
R&D community plan and code development plans:
· Releasing Swarm App in BNB Chain and listing
on Pancake Swap
· Study and develop tokenization solutions
fully integrated with Parachains. We are actively looking at Parachain Slots,
auctions and how to integrate with Kusama.
· Layer 2 Collaborations.
Token Addict:
It would be up to the issuer/creator, they could send the tokens to the
investors or have those investors claim the tokens.
Andrés M. | Satoshi Club: That’s your
roadmap?
Daniel:
It’s part of our R&D plan, our roadmap will be published later this week .
There’s a formal announcement
coming up
Andrés M. | Satoshi Club: Thanks for share it, would you like to proceed with
the next question?
Daniel:
Yes, please share next quesiton
Q3 from Telegram User
@andrey_seleznov
Please share some details about the swarm native
token SWM. Will it be inflationary or deflationary in nature? SWM is currently
listed on the Uniswap, do you plan to list SWM on more exchanges, decentralized
as well as centralized? If so, which ones can expect to be graced with the
chance of hosting the SWM ?
Daniel:
Inflationary in Nature. Here is our exchange listing roadmap bellow
Our community has
actively been discussing the possibility of working with the following
exchanges.
Tier 1:
· Binance
· Kraken
· Bitfinex
Tier 2:
· Coinsbit
· Mandela
· Kucoin
Securing listings with
Exchanges can be a complicated and expensive proposition unless there is true
utility driving demand for the token or strong relationships in place. We feel
confident in our ability to get Swarm listed but we also hope that the
community will develop a layer 2 solution on Swarm that will provide exchange
functionality as well as highly reduced token transfer costs.
Andrés M. | Satoshi Club: What is the max supply and the current market cap?
Daniel:
100,000,000 is the max supply
circulating supply is
78.9 mil
Fully dilluted market
cap 13.2 M$
Andrés M. | Satoshi Club: Great roadmap, listing exchange on Binance have any
approximated date? Q2 or Q3?
That’s what I call a
gem😁
Gold Rocket | Satoshi Club: Absolutely👍
Daniel:
We do not like to comment on listing deadlines because we don’t control it.
What I can share is that we have a lot of interest in our project.
And we are indeed in
active discussions with multiple exchanges.
By supporting our token
on Uniswap and being a valued community member, you can help us get there
faster.
Andrés M. | Satoshi Club: We understand, thank you so much for your clear
answers. Would you like to add something before the next question?
Of course, please share
us the link to your communities to join🥳
Daniel:
Our telegram channel is here : https://t.me/swarmfund
Gold Rocket | Satoshi Club: Join, please, Satoshi Clubbers🚀
Andrés M. | Satoshi Club: So, let’s proceed
Q4 from Telegram user @ngonguyenkhang
Swarm is in the tokenization space. According to PWC
report, the expected market size for security tokens in 2030 is $2,000 billion.
You are serving a large market here. Tokenization is the next big thing in my
honest opinion and will revolutionize the financial world. For those who don’t
know anything about the term tokenization. What exactly is tokenization and how
does Swarm fit in here?
Daniel:
For those who want to participate in our proposals and working groups, please join
our discord:
https://discord.gg/tFb5CtAb
Gold Rocket | Satoshi Club: Pay attention, Satoshi Club 🚀
Andrés M. | Satoshi Club: Is there rewards for ideas, right?
Daniel:
Yes sir!
Token Addict:
responding to this now, great question
Tokenization is
effectively the representation of something with a blockchain token. E.g. a
property worth $1m could be tokenized on Swarm and represented with 1000
blockchain tokens (SRC20 tokens — modified version of ERC20 for securities)
each with a value of $1000. This is making it easier to potentially
fractionalise and distribute assets, all at low cost upfront and with no
ongoing recurring fee’s. Blockchain of course is the settlement and clearing
layer so it is faster and more transparent than what we see today in legacy non
blockchain industry, tokenization is removing middle-men and cost.
These tokens would have
all the regulatory controls baked in to meet securities regulations with SRC20.
Tokenization will
become mainstream over time the same way that many here trade utility tokens
and DeFi protocols on Ethereum, huge amounts of assets (art, property, bonds,
equity etc…) will be tokenized and traded, creating greater liquidity. We are
already seeing regulated exchange spring up for trading such assets, this was a
really missing part particularly in EU, having spoken with hundreds of issuers
over the years, I am glad to see this all taking shape on both primary issuance
and secondary trading outlets for the tokens themselves.
Token Addict:
Swarm gives people an open no upfront cost way to try and leverage the next big
coming wave of growth in the form of tokenization of assets.
One can raise funds
from around the world on Swarm app with zero upfront costs
Andrés M. | Satoshi Club: So clear. I would like to know about safety in your
platform, has it been audited? Which problems did you find in the audit
process?
Token Addict:
All the smart contracts were audited originally and we had them audited a
second time when we launched the app as we made some minor changes. Reports are
on github
Zero critical errors or
suggestions of change and some minor debatable suggestions.
Full clean bill of
health all round.
Gold Rocket | Satoshi Club: Safety first👍
Andrés M. | Satoshi Club: Well job, as Gold Rocket said, safety first👏
Let’s proceed with the
5th question, ready to go?
Token Addict:
Please go for it 👍
Q5 from Telegram user @NataliyaKil
Swarm Network is partnering with VersoView, a
marketing publication solution with tokenized reward structures. What is
VersoView? What technologies do you use, offered by VersoView and what does
this collaboration give to Swarm Network?
Token Addict:
Verso View have a platform to reward engagement in media publications. they
have some very large partners and customers. Potential issuers on Swarm
platform can also leverage VV solutions. So it’s mutually beneficial. VV can
assist Swarm with high calibre marketing opportunities.
Andrés M. | Satoshi Club: Do you have more partnerships similar to Verso
View?
Daniel:
We have a pipeline of partnerships coming along and they will be announced over
the next few months
Andrés M. | Satoshi Club: We will be waiting for it, don’t forget to share it
with us😃
Token Addict:
Yea there are lots of legacy partners and lots more to come, not able to go
into all of them in detail.
Andrés M. | Satoshi Club: But, could you tell us what is the greatest event
coming for Swarm Network in the roadmap?
Daniel:
We will be adding some heavy hitters to our operations team , people that are
senior executives and super well known in the crypto market !! This could be
announced this week!!!
Andrés M. | Satoshi Club: Do you have an announcement channel?
Daniel:
Yes
it’s on discord
Andrés M. | Satoshi Club: There, let’s join Satoshiclubbers
Thank for the clear
answers and our best wishes for your coming events😃
Let’s proceed with the
final question!
Q6 from Telegram User @Xusuo
I read that swarm use Term Agnostik and possible to
use multiple chain. Could you explain what is term agnostik? If you can use
multiple chain, is that mean you can offer your service to more than one chain?
What chain that already support your service?
Daniel:
The service is currently supported on the Ethereum chain. We are looking at
cross-chain solutions to distribute our product, the term agnostic means our
desire to bring the tokenization movement beyond ethereum and by looking at
other solutions like Polkadot, Parachains , BNB , etc . We are maximizing the
potential of the token. Besides we are reasearching how we could use
MATIC/Polygon as well.
Andrés M. | Satoshi Club: Thank you guys for your amazing answers, it was an
honor to know more about an interesting project like yours👏💪
Now is time to interact
with our dear community users. Is time to go with the live segment🥳
Part
2 — live questions from the Telegram community
Q1 from telegram username @alptrader
Swarm looks like to have same philosophy of projects
like Uniswap so what makes you different from them?
Daniel:
Our network philosophy is the same, our product functionality and application
are completely different. We are a tool to tokenize solutions. Uniswap would be
an ecossystem partner , not a competitor.
Q2 from telegram username @Antoni_azx
They say in their whitepaper that the Swarm Network
platform will be free, but having Ethereum as its base blockchain, it will play
against the high level of transaction fees. Do you have any plans in mind to
make the gas issue a little more viable?
Daniel:
The high transactions fees can be mitigated by have a side-chain to do small
transactions and keep the large credible issuances on the public network. A
good example is with projects like Polkamon, they don’t mint all NFT’s to the
Ethereum chain, only the ones people chose to mint and they have a cheap side-chain
on the side for small transactions.
Q3 from telegram username @cindy_crypto
Do you plan to create a Binance Smart Chain version
of the Swarm and list it maybe on pancakeswap or bakeryswap?
Daniel:
Yes, we are very bullish on BNB and we want to part-take in their amazing
ecosystem. We are currently working on solidfying our community structre before
we release the deadlines for this.
Q4 from telegram username @Dr_GemHunter
One of many advantages of tokenizing assets is that
they can be traded 24/7, but so far there are hardly any regulated exchanges
where securities can be traded. How long do you think it will take the market
to react to this? Do you think the major exchanges (such as Binance) will come
out with a regulated exchange that can be used for securities?
Daniel:
We know they will. Our vision is very bold and we know this can change the
world. The way value is stored and our strategy to perceive ownership of items
and what currency means will be significantly disrupted by our project.
Q5 from telegram username @Johana0012
Swarm’s native SWM (ERC20) token is the lifeblood of
the Swarm Network, giving voice to all holders.
What are the principles on which this token has been forged? What functions does the elected Council
fulfill within the platform? Who is in
charge of selecting the members of this council? How can I collect rewards by implementing the
use of Swarm?
Daniel:
The swarm council is the regulatory community body to ensure treasury is well
spent and only proposals that will benefit the community are put forth to
voting. We are also responsible to bridge the community’s desires and the
financial impacts to the project of those.
Q6 from telegram username @highpee
I am a huge fan of projects that are completely
decentralized and you said Swarm, being entirely decentralized will be governed
by its own elected DAO called the SWARM NETWORK COUNCIL. How are the members of
this Council elected? How confident can investors rely on the council members
to make good project decisions? Can anyone aspire to be member of council or is
the composition fixed?
Daniel:
Investors should have abosolute confidence in the integrity of the council and
that the team is working hard. We will never provide financial advice. We like
this token. Our vetting process is very strict and everyone has shared their
public identity and will be happy to answer any questions from community
members or investors.
Q7 from telegram username @killer_been1
–
What is your strategy for building a strong
community? Do you agree that the power of the community will lead your project
to develop globally? What services do you provide to the community?
Daniel:
Marketing plan:
· Build our
Knowledge Base & support system
· Update
website with clarity
· Community
outreach
· Sponsor
crypto & start-up related podcasts
· Joint press
releases with issuers
· Partnership
agreements with accelerators and incubators.
· Affiliate
system to incentivize referrals
Q8 from telegram username @killer_been1
All project’s coins have their main Utilities &
real-life use! So, Can you tell us what the main role of your coin is in your
ecosystem? Explain its Utilities & Real-Life use cases? and Why should i
invest in your coin for the long term?
Daniel:
Our coin is one of the few projects out there in Crypto that already has
real-life companies and businesses using it! We never spent too much time on
marketing over the years and have acquired multiple partners along the way who
share the same vision as we do. We aim to be the one-stop shop for
DECENTRALIZED tokenization.
Q9 from telegram username @V1ct0r_26
⚠️ I read that Masternodes programme at Swarm was
really strongly adopted by community, however Swarm made the decision of
retiring the Mastenode programme and redistribute rewards in a new fashion to
holders who stake SWM, could you share more about this with us? Why if the
programme was a success you decided to retire anyway? And why did you choose
SWM Staking as a replacement? What benefits does this bring to users?
Daniel:
Swarm is going through transformational changes and adapting to the latest
technologies available. We will always work hard to reform the community and
enable further growth. Our plan has never been more ambitious and we have
experienced very significant growth. Our recent price action and multiple
marketing engagements are a result of that success and we hope to continue to
share it with you all.
Q10 from telegram username @contreras2004
As a tokenization app, the team behind the
mySwarm.app will need to hand pick or filter most of the first projects that
will be available for fundraising on the platform. When will we have a more
detailed process of submitting new projects to the app and what will be the
minimum requirements that a project will need to meet in order to be picked to
participate so it does not fill with scam projects like it has happened before
in other platforms? (sorry for my english)
Token Addict: Swarm
does not vet or whitelist projects for listing, its entirely a self service and
permission less DeFi tool.
DYOR on any offerings
created on Swarm app for contribution.
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.
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