The educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Persistence. The AMA took place on March 29th, 2021, and our guest were @tusharaggarwal @abhitejsingh.
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 community!We are very glad to conducting AMA with
Persistence! Today our guests are @tusharaggarwal @abhitejsingh!
Abhitej
Singh | Persistence 🦾: Hello everyone! Great to
back here with the ever-growing Satoshi Club community.
Andrés
M. | Satoshi Club: @tusharaggarwal @abhitejsingh
how’s going your day guys?
Gold
Rocket | Satoshi Club: Hello and welcome to Satoshi
Club, @tusharaggarwal and @abhitejsingh!😊 And we are
very happy to see you again and very excited about the upcoming AMA.😊
Abhitej
Singh | Persistence 🦾: Would say very busy with Mainnet launch, token listing on 1st April,
AMAs and partnerships but this is the best feeling 🚀
Andrés
M. | Satoshi Club: That’s the aptitude we need,
congratulations for all that coming events 🥳👏
Gold
Rocket | Satoshi Club: I hope you can tell us more
about this.🙏
Abhitej
Singh | Persistence 🦾: Absolutely we will talk more about all of this today’s AMA.
Gold
Rocket | Satoshi Club: Let’s start! @abhitejsingh Introduce
youreself. How did you get to be involved in crypto & Persistence?
Abhitej
Singh | Persistence 🦾: Hello Everyone,
I am Abhitej Singh and I take care of
Strategy and Community at @Persistenceone. My introduction to Crypto was in
2016-2017 while I was travelling across
different parts of India and the US. I was very fascinated by the core
characteristics of Crypto and Blockchain in general – ownership and
transparency. So, after initial introduction I jumped into Crypto completely in
late 2018.
Before joining Persistence, I was helping a
couple of early stage startups (now backed by Ola and Livspace – unicorns in
India). I was also actively involved building communities for Google, facebook
and co-founded national hackathon in India called Code2Create.
I met Tushar and Deepanshu (Co-founders) in
2019 at a Blockchain Conference and really liked the vision they had and joined
them back in November 2019. Here we are building @PersistenceOne.
I also co-founded Cosmos India with Tushar
and Deepanshu.
Gold
Rocket | Satoshi Club: Great background and great
intro! 👏
Andrés
M. | Satoshi Club: Happy to know that more about
you, that will make the AMA more familiar
Gold
Rocket | Satoshi Club: What is the essence of your
project? How long does it take to develop a project? What plans do you have
for the future? And what can we expect from Persistence?
Abhitej
Singh | Persistence 🦾: A lot of questions together. Let me take them one by one.
Gold
Rocket | Satoshi Club: Of course ☺️ take your time please.
Abhitej
Singh | Persistence 🦾: In simplest
terms, Persistence is creating ecosystem of financial products which will have
debt financing, borrowing/lending, DEXs, Fixed income generators etc.
To dive a little deeper:
Persistence is an interoperable protocol
built to facilitate the creation of next-gen financial products. The
Persistence tech stack provides the infrastructure to effectively bridge the
realms of DeFi and traditional finance in a variety of areas, whilst also
enabling the creation of innovative crypto-facing solutions to expand the DeFi
and NFT sectors.
Persistence is operating at the confluence
of NFTs + DeFi + PoS Staking. We have already developed a full suite of
financial products:
♦️Comdex:
Institutional-facing commodities trading and trade financing platform. Handled
over $55M in transaction volume.
♦️AUDIT.one:
Staking-as-a-service infrastructure. Currently over $200M in assets under
management.
♦️pStake: Liquid
staking product unlocking liquidity of staked assets.
♦️pLend:
Stablecoin lending platform backed by real-world assets.
♦️Asset Mantle:
Interoperable NFT marketplace framework, enabling the creation of
‘Shopify-style’ NFT marketplaces.
Learn more about our mission and product
ecosystem here: https://buff.ly/2NWnFE3
We have been building Persistence since
2019 and we have built all three-layers:
– Network Layer
– Persistence SDK
– Application layer
This allows to develop very comprehensive and user-friendly applications. And it’s the same reason we have institutional as well as crypto-native application in our ecosystem.
This is will give
everyone a fair idea of how our technology is stacked.
Andrés
M. | Satoshi Club: Wow, a big g ecosystem that
faces the problems of the users👏
Gold
Rocket | Satoshi Club: Nice infographic!👍
Abhitej
Singh | Persistence 🦾: We aim to become the largest suite of financial products (Both
crypto-native and institutional applications).
We are already on a great start with
Comdex, pStake, AUDIT.one, Asset Mantle and pLend. But this is just the start.
You can find all our upcoming updates in
our latest roadmap: https://persistence.one/roadmap
But some of the key updates will be:
Token Sale: 31st March 2021
Mainnet Launch: 30th March 2021
Staking Interface launch: 1st April
Exchange Listing: 1st April
pStake Launch: April/Early May 2021
Asset Mantle launch: Q2 20201
Exchange listings expansion: Q2 2021
Done ✅
Andrés
M. | Satoshi Club: Exchange listing? Where are you
going to be listed?
Gold
Rocket | Satoshi Club: Big thanks👍
Abhitej Singh | Persistence 🦾:
#XPRT #TokenSale
The bulls are charging towards AscendEX
(formerly BitMax) for Persistence’s XPRT token sale, launching on March 31st! 🚀
💎 The
XPRT token sale will take place on leading global exchange AscendEX (formerly
BitMax) on March 31st. The sale will be in auction format, with 1M XPRT tokens
available for participants.
🛡 During
our fundraising rounds we built a strong network of Persistence crusaders.
We’re now thrilled to give the wider community the opportunity to secure XPRT
tokens and join our journey!
📈
AscendEX will then list XPRT via a XPRT/USDT trading pair following this
schedule:
Andrés
M. | Satoshi Club: Time to go with our first
question
Q1 from Telegram User @carolina0012
The SDK is constantly expanding to
accommodate new types of use cases and dApps entering the Persistence
Ecosystem. However, with the modules already available, the trade and trade
finance journey can cover the onboarding of organizations and their employees,
providing relevant access rights to onboard employees. Is the use of
fingerprints also applicable to make documents verifiable?
Abhitej
Singh | Persistence 🦾: This is an interesting question. Persistence SDK is equipped with
multiple modules that have the capability to be full-fledged projects
themselves.
The objective with Persistence SDK is to bring the advantages of Web 3.0 (Trustlessness, Immutability, Auditability etc) at the same time have Web 2.0 experience.
Some of the modules in Persistence SDK. As I
understand, fingerprints are a way to authenticate the identity, Persistence
has multiple modules that incorporate identity management and authentication as
well as also deal with sensitive data through document provenance and Access
Control Rights. Persistence SDK by it’s designed is without doubt one of the most
comprehensive and sophisticated toolkit for developers and in future we will
add more features as mentioned by you.
Gold
Rocket | Satoshi Club: it is very interesting!
Andrés
M. | Satoshi Club: An amazing concept, how do you
compete with your direct competitors? What features make you different?
Gold
Rocket | Satoshi Club: Which of the modules is the
most interesting for you personally?
Abhitej
Singh | Persistence 🦾: Persistence is essentially not competing with other chains or
protocol, we are building an ecosystem of products that are interoperable.
Our current application suite resides on
Ethereum, Cosmos and Persistence. In future we aim to build bridges to
ecosystems such as Polkadot, BSC etc.
Andrés
M. | Satoshi Club: I see, you are looking for a big
adoption
Abhitej
Singh | Persistence 🦾: That being said, we do have competitors for individual products, for
example:
pStake: Stafi, Lido finance
Comdex: Centrifuge
AssetMantle: Mintbase
Gold
Rocket | Satoshi Club: Bridges between blockchains
are really very important today! 👍
Abhitej
Singh | Persistence 🦾: Our goal is to bring value from different ecosystem and find ways to
build syngeries with complementing protocols and projects. In my
personal opinion, the only way this industry will succeed if they protocols and
networks can co-exist.
Gold
Rocket | Satoshi Club: I like that you offer
complex solutions. Gold words👏
Andrés
M. | Satoshi Club: Completely agree💪
Abhitej
Singh | Persistence 🦾: Same rationale goes behind very close partnership with Terra. We
will be using Terra’s Stablecoin ecosystem in our applications in absence of
our own stablecoin.
Gold
Rocket | Satoshi Club: thanks a lot explanations!
ready to proceed to the next question
from the community?☺️
Abhitej
Singh | Persistence 🦾: Personally I love interNFT module. interNFT is very powerful module
which will change the way we know NFTs today. Currently NFTs just exist in
Ethereum ecosystem due to absence of proper standards across other chains. In
addition to that ERC-721 or ERC-1155 NFTs cannot flow to other chains and NFTs
from other chains cannot flow to Ethereum. This is a huge barrier in NFT
growth.
Gold
Rocket | Satoshi Club: I also think it is a very
promising direction!
Abhitej
Singh | Persistence 🦾: interNFT is a module that is standardising NFT and Metadata across
chains and we were awarded with a grant as well for our work with interNFT by
Interchain Foundation.
Andrés
M. | Satoshi Club: Thanks for the clarification,
NFT is a hot topic, I think that module would provide big solutions
Abhitej Singh | Persistence 🦾: Today interNFT is supported by the leading projects such as Polkadot, Kusama, Cosmos, Secret Network, Keep Network and many more.
Gold
Rocket | Satoshi Club: Congratulations🎉it is always a pleasure to
get high marks for your work! many famous and familiar names. 😊
Abhitej
Singh | Persistence 🦾: Let’s go
Q2 from Telegram User @yiselen
The architecture allows dApps to operate
in isolation without being affected by Increased transaction loads experienced
by other dApps in the chain – this becomes imperative to provide a seamless
end-user experience and meet user expectations institutional. Why is the main
persistence chain being boosted? What is the Byzantine consensus algorithm?
Abhitej
Singh | Persistence 🦾: Persistence main chain essentially acts as hub for all the
application in the ecosystem and the key actions such as governance,
incentivisation/deincentivisation, public records can be executed here.
As the Persistence ecosystem grow (already
4 application operating) the value of Persistence chain and it’s governance
token $XPRT will significantly grow.
And can talk more about the XPRT token and
it’s utility further in the AMA.
Andrés
M. | Satoshi Club: Could you share details about
the tokenomics of XPRT?
Andrés
M. | Satoshi Club: Thank you so much, I think the
answer is so clear for us, would you like to add something before the next
question?😃
Abhitej
Singh | Persistence 🦾: Let’s proceed
Q3 from Telegram User @meml97
One thing that made it into the news all
around the world this weekend was your recent announcement that Zurich-based
investment firm Tavis Digital, a spin-off of Tavis Capital, an asset manager
regulated by the Swiss Financial Market Supervisory Authority (FINMA), has
partnered with Persistence. Can you tell us more about this partnership? What
are the benefits both parties will get from this? And specially how will this
help you to pave the way for building that brigde between traditional financial
and crypto?
Abhitej
Singh | Persistence 🦾: Persistence has been working on both institutional and crypto-native
use-cases since the start. Our goal is to work on the following core
things:
– Accessibility
– Liquidity
– Sustainability (Fixed Income)
With same respect we have been building
different projects and cater to the needs of the both institutional and
crypto-native users.
Gold
Rocket | Satoshi Club: What other partnerships do
you have in your plans? What do you
expect from these collaborations
Abhitej
Singh | Persistence 🦾: The partnership with Tavis Digital has following benefits:
– Provide the institutional investors
accessibility to the PoS and DeFi assets
– Bring Liquidity into the Crypto ecosystem
– Grow the adoption of Crypto
– Provide sustainable income to the
institutional users (in times of negative returns in the traditional finance)
– Abstracting the complexities of Crypto
for the institutional investors
This is only one of many institutional partners
that we are working with. We will be disclosing our other partners as well in
coming months.
Gold
Rocket | Satoshi Club: Thank! I will definitely
check it out! This is a great achievement!👏👏👏
Andrés
M. | Satoshi Club: Congratulations, we will be
expecting to know more about your new partnerships👏
Abhitej
Singh | Persistence 🦾: Let’s proceed.
Q4 from Telegram User @AugusS7
You mention that you want to make
real-world and digital assets, such as invoices, collectibles, and art, more
accessible, but how would they really be more accessible? converting some bills
into NFT tokens? I really don’t understand
Abhitej
Singh | Persistence 🦾: Let me break down this process in simple terms for you. Like how
Pepe the Frog is unique, every ‘real world’ asset is unique. Pepe the
Frog has certain unique characteristics similar to every commodity or business
invoice having unique characteristics. Like how you would be able to trade
frogs or monkeys or digital art..similarly once something is represented on
chain, it can be traded.
We’ve been
working with NFTs for a long time in this context. The Interchain
Foundation (foundation governing Cosmos) gave us a grant recently to create
‘interchain’ standards for NFTs. Read here: https://medium.com/persistence-blog/persistence-one-first-to-implement-interchain-native-nft-transfer-bags-icf-grant-cdb6c3856c25
This is similar to how ERC721 has become
the NFT standard within Ethereum ecosystem.
Andrés
M. | Satoshi Club: Haha I like so much the
reference😅
Abhitej
Singh | Persistence 🦾: The key information from the real-world assets such as invoices
(Invoice Number, Invoice amount, payable date etc) are extracted and attached
to a digital representation of these assets (Metadata).You may ask how do we
verify the authenticity of these NFTs. Here is the answer:
We work with multiple third parties to
check the authenticity of the ‘real world’ assets. Whether those real world
assets exist. Once that verification is done, then they are brought on chain.
Proper underwriting (insurance) is in place to mitigate any counterparty risk. Since our
initial focus is cross border trade and physical commodities – some of the
regulatory complexity is removed as trading of ‘physical’ commodities is
lightly regulated. Biggest compliance is KYC/AML which we comply with. Some news
about Comdex: https://www.business-standard.com/article/pti-stories/comdex-completes-over-10m-worth-of-commodity-trade-processes-119110800600_1.html
Third party verifiers who are whitelisted
need to have the original copies of the documents. These could range from
insurance agents, auditors, trade financiers etc who are skilled in checking
this. The documents could be digital also – not only paper based – PDF
etc. But authenticity will be verified. In the spirit of
decentralisation there will be multiple third parties. Another analogy can be
drawn from Beeple’s NFT auction with Christie’s. Where Christie’s translated
the off-chain reputation of Beeple to determine the value of the NFT.
Andrés
M. | Satoshi Club: Thank you for the detailed
answer, all this process has been audited or is in process to be?
Abhitej
Singh | Persistence 🦾: Over time we will see most of these assets exist only digitally
on-chain and the off-chain authentication wouldn’t be required but at the
moment we are in very early stage of the industry itself. Yes, Comdex
is an institutional product and it needs to comply with certain standards and
security checks. And we aim to do similar audits for all our future institutional
products as well.
Done ✅
Andrés
M. | Satoshi Club: Great work, is an important
topic to increase the users trust and security. Let’s proceed with
the next question😃
Q5 from Telegram User @Michelth
Mainly Focused on Institutional
Investors and Borrowers Persistence Through shared security, the main chain can
protect application chains. For what purpose does the persistence team work
closely with Family Offices and SMEs?
Abhitej
Singh | Persistence 🦾: Unlike western world most of the conglomerates and businesses in
Asia are owned by family offices. With the hyper growth these family offices
are looking for best alternatives to expand their businesses. For that
matter, Comdex is also backed by a billionaire family in India and a
commodities trading organisation in Singapore. We want to work
closely with family offices to drive more adoption and bring more capital into
Crypto. On the other hand, most of the SMEs don’t have the accessibility to
huge capital and enough liquidity such as large corporations to operate their
businesses seamlessly. The process to gain accessibility or liquidity in
traditional finance industry is very tedious and time consuming. Hence we want
to leverage the abundant capital in the Crypto space to finance the real-world
businesses. This will create a very balanced demand and supply scenario which
in return will bring massive growth to both sides.
Gold
Rocket | Satoshi Club: Yes, that’s a good decision.
Family business symbolizes reliability!🤝
Abhitej
Singh | Persistence 🦾: That’s essentially what we mean by bridging the gap between
traditional finance and crypto. Creating a balanced supply and demand. This is
allow the crypto holders sustainable income and ensure the growth of the crypto
industry.
Done ✅
Gold
Rocket | Satoshi Club: Mass adoption in action! Are you
ready for last question of this part?
Abhitej
Singh | Persistence 🦾: Yes let’s go.
Q6 from Telegram User @Gutike95
Persistence is focusing on both
institutional and native cryptographic use cases, but is it really with the
goal of being the transitional bridge between Cex and Dex? Or could you really
keep working both digital institutions and traditions over time?
Abhitej
Singh | Persistence 🦾: As I mentioned above Persistence is a suite of financial products
which include DEXs, Marketplaces, Lending/Borrowing applications.Comdex
for example is a marketplace and have institutional users. In coming
month we will launch pLend which is a Stablecoin aggregator (Liquidity product)
which have two functions:
– Allow the users of different dapps in the
Persistence ecosystem (Asset Mantle, Comdex, pStake etc) to put their assets as
collateral and borrow stablecoins
– Provide high-return for the liquidity
providers on their stablecoins
So our approach is not to build just
standalone product which exist completely disconnected rather build products
which can bring value to each other. Although, if any dapps wants to build in Persistence
ecosystem in a completely siloed manner they can. So to conclude it
will be combination of DEX +
Marketplaces
Andrés
M. | Satoshi Club: Before to the second part of the
AMA, could you share with us details about the coming token sale? How to be
part?
Abhitej
Singh | Persistence 🦾: We have created a simple explainer: https://buff.ly/31sqPmt
Andrés
M. | Satoshi Club: Thank you, it would make the
process easier for our members interested on it 😃
Andrés
M. | Satoshi Club: @abhitejsingh thank you so much
for your time and for share your knowledge in this first part of the AMA, It
has been and exciting and interesting segment🥳👏
Gold
Rocket | Satoshi Club: I understand correctly? here
are the main products you offer: comdex, audit, pstake, asset mantle and plend.
Abhitej Singh | Persistence 🦾: Yes these are the products we have publicly communicated. There are more under development in the background.
Part 2 — live questions from the Telegram community
Q1 from Telegram User@fromabove6
What
sets you apart from your competitors?
Abhitej Singh | Persistence 🦾: As I mentioned, the greatest
advantage for Persistence over the competition is the unique position of
operating at the confluence of PoS + NFTs + PoS staking.
We have already built 4
products, namely:
– Comdex – Decentralised
Commodity Trading Marketplace with more than $55 Million in Transaction volume
– AUDIT.one – Validator arm
of Persistence.one with more than $125 Million worth of assets under delegation
– pSTake – Liquid Staking
platform with best returns and user experience for the PoS stakers
– Asset Mantle: NFT
Marketplace framework which will allow any user to spin up their own NFT
marketplace – Shopify of NFTs
Some of the other advantages
are:
– One of the best validator
set in the industry
– Strong partnerships with
leading crypto foundations, protocols, networks as well as large traditional
institutions.
– Persistence is building
all layers – network, SDK and application layer which cut down on any external
dependencies
– The token utility rewards all the $XPRT holders from the cash flow from all the applications in the ecosystem
Q2 from Telegram User@meml97
🧨 Since your token sale on AscendEX is
barely a few days away, can you tell us more about your token $XPTR? I read
that it’s main function is being a token governance for the Persistance
Platform, but can you give us more details about how will it be useful for users
that want to participate in governance decisions? Also, what other functions
will $XPTR have? Will it be a work utility token?
Abhitej Singh | Persistence 🦾: The token plays 3 keys
roles:
1. Staking token (similar to
other Tendermint based chains like Band, Kava, Terra, Iris)
2. Governance of the chain
(not app)
3. Work token (stakers and
delegators receive cashflows from the pStake and Comdex dApp as well as other
dApps in the future)
The biggest advantage is as the Persistence ecosystem grows (we are already working on shipping multiple projects) the value of $XPRT will grow. Hence providing immense ROI for the XPRT holders.
Here’s a simple illustration to understand the same.
Q3 from Telegram User@lastcalll
NFT
is a good option for every project, how you will evaluate this option. Or do
you have other priorities?
Abhitej Singh | Persistence 🦾: Very good question, thank
you for bringing it up.
Persistence has been working
on NFTs since 2019 even before the NFTs became so popular and hot topic.
Our vision since inception
has been to operate on the confluence of NFTs + DeFi + PoS Staking.
We are not swayed by the
trend but working on creating long-term value by developing utility for NFTs
beyond art and collectible, for example tokenising business invoices, ownership
documents etc.
Q4 from Telegram User@KeymerS
Could
you really give us more detail on NFT Asset Mantle? Will it be totally
innovative or will it be very similar to the NFT Marketplace frameworks of many
other platforms?
Currently we are leading the working group of 20+ projects to develop these standards that include Polkadot, Cosmos, Kusama, Akash Network, Secret Network etc.
Q5 from Telegram User@feranno
What
conditions should I meet to participate in the public sale of XRPT?
Abhitej Singh | Persistence 🦾: You can see detailed
requirements and eligibility here: https://buff.ly/3siaBIy
I
read on your website that $XPRT holders
can delelgate it for stacking, so no one except holders can stake on
persistence network? How much is the apy % returning? @abhitejsingh
The Persistence Mainnet is
Launching on March 30th! Introducing Our World-Class Genesis Validators 🚀
🦾 After more than two years
of relentless ideation and development, we’re thrilled to announce that the
Persistence mainnet is going live tomorrow, March 30th, with 20 genesis
validators!
🔥 This will signal the
official birth of the Persistence network and the next major milestone on our
journey to usher in a new financial paradigm.
🔒 Persistence has onboarded
some of the world’s top validators, which collectively secure over $7B worth of
assets across multiple networks. We are committed to ensuring the utmost
security and robustness of our network.
💎 From April 1st, XPRT
holders will be able to delegate their tokens to our validators for staking
(35% APR in the first year).
🌐 Read here to learn more
about our mainnet launch and to meet our world-class validators: https://buff.ly/2P8iSRf
We invite you to celebrate
this monumental occasion with us. Here’s to the next exciting chapter in the
journey of Persistence! 🥂
+ AscendEX (Formerly Bitmax)
[Token Adoption and Growth]: https://bitmax.io/en/marketing/xprt
Q8 from Telegram User@RosemaryBianco
I
really found it interesting that you ran several “StakeDropp” campaigns
to distribute your native XPRT tokens. So I would like to know, why you have
decided to do this distribution through Staking? campaigns. And what is the
existing relationship that Persistence has with these contributing projects? Do
you plan to integrate more projects in the future?
All the 7 networks selected
for the StakeDrop campaign align with the long-term vision and objectives of
Persistence. Some of the those are:
♦️Tendermint-based chains:
Cosmos, Kava, Iris, Terra
♦️Interoperability:
Polkadot, Cosmos
♦️DeFi: Kava, Terra, Iris
♦️NFTs: Matic
♦️Bridging traditional
finance and DeFi: Tezos
The other key factors with
these networks that ensured the success of StakeDrop:
♦️Geographically
distributed: Cosmos, Polkadot, Tezos (Global), Kava (the US), Iris (China),
Terra (South Korea), Matic (India)
♦️Significant market
capitalisation
♦️Strong staking community
with high staking ratio on the network
♦️Synergies to work with
these projects for Persistence ecosystem products such as pLend, pStake, Asset
Mantle
In case someone wants more details:
Currently we are running StakeDrop campaign to distribute 1% of our entire token supply. We have already completed the campaigns for Cosmos, Kava, Terra
COMDEX will have what kind of commodities? gold, oil? and which oracle will then use to track the prices?
Abhitej Singh | Persistence 🦾: Currently we are using the institutional oracle solutions but we are seeing more and more crypto oracles such as Chainlink and Band Protocol are working on bringing real-world data on-chain. We will be working with similar oracles in future to get more decentralised data in our institutional or real-world focused dapps.
Q10 from Telegram User @K2ice
The team has been busy building Persistence for the
past two years. By now, there should have been some Influencers/biggest minds
in crypto delving into Persistence’s value propositions and future. Can you share
with us how you have been able to deal with this and what more should users
expect in the nearest future?
Abhitej Singh | Persistence 🦾: lot of influencers and
industry pioneers have been closely looking at Persistence and in touch with
us.
The same can be seen in the list of advisors on our website, we have onboarded some of the most recognised faces in the crypto as well as institutional space.
One of the video I could
fetch to show the hype among the influencers:
https://www.youtube.com/watch?v=MuY3073171Q Time and again we have been covered by the influencers
as most anticipated project.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Persistence. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
Luis Merino 🇪🇸 | Satoshi Club: Hello everyone and welcome to another AMA session with Satoshi Club. Yes guys, don’t worry… Your favorite moderator is back 😜😂
Our guests today are from a huge project, Orion Protocol.
@timotheahorwell, welcome to Satoshi Club 😊 it’s a pleasure to
have you here.
Andrés M. | Satoshi
Club:
Welcome @timotheahorwell, we are glad to have you here👋
Timothea | Orion
Protocol:
Pleasure to be here!
Luis Merino 🇪🇸 | Satoshi Club: How are you today?
Timothea | Orion
Protocol:
Very well thanks! And yourself?
Andrés M. | Satoshi Club: We are excited to know more about Orion protocol😃
Luis Merino 🇪🇸 | Satoshi
Club:
I’m doing great too! Hyped about this AMA 🎉
Andrés M. | Satoshi
Club:
🥳
Luis Merino 🇪🇸 | Satoshi
Club:
So please, Timothea, as an introduction, can you tell us a few words about
yourself?
And also, give us a short introduction to Orion Protocol 😉
Timothea | Orion Protocol: Me too 🙂
I’m Timothea and I’m CMO of Orion Protocol. Over the last decade I’ve worked with tech companies in the data, mobile, and fintech space – from building business strategies at a start-up incubator, through to Head of Marketing and Research at Telefonica. I joined Orion Protocol last year when I met with some of the team – led by Alexey Koloskov, the creator and Chief Architect of the Waves DEX – and realized that what they were building had the potential to revolutionize trading by creating a much needed portal to the entire crypto market!
Orion Protocol was born out of the need to solve three major issues in the crypto landscape: liquidity, fragmentation, and centralization.
Fragmentation of liquidity has started to wear thin on traders, increasingly frustrated with high spread, high slippage, lack of trading pairs, and the need for multiple accounts on different exchanges.
Luis Merino 🇪🇸 | Satoshi Club: Great background 👀😊
Timothea | Orion
Protocol:
Not to mention, the majority of liquidity is held on centralized exchanges,
meaning traders have to risk their assets in order to trade!
Timothea | Orion
Protocol:
What started as an ambitious plan in 2018 to decentralize CEX liquidity became
a mission to create the first decentralized portal to the crypto market: Orion
Terminal.
Luis Merino 🇪🇸 | Satoshi Club: You are right
Timothea | Orion
Protocol:
In three days, on March 31st, 2021 at 5pm UTC, Orion Terminal’s public Main Net
goes live. Users can access global liquidity from major centralized exchanges,
directly from their wallet, on one decentralized platform – marking the beginning
of the future of trading. We have ~100,000 users who already applied for early
access to the terminal!
Andrés M. | Satoshi Club: Satoshiclubbers let’s join this great platform😃
Luis Merino 🇪🇸 | Satoshi Club: I have already joined 😏
Timothea | Orion Protocol: Love that 😄
Andrés M. | Satoshi
Club:
Timothea, thank you so much for this interesting introduction, we have
collected some community question for the first part of the AMA
Timothea | Orion
Protocol:
Great! Look forward to hearing them 🙂
Andrés M. | Satoshi Club: Let’s go🥳
Q1 from Telegram User @ninoska0012 The integration of Avalanche into the Orion Protocol marks a major step forward for Orion as an independent exchange aggregator in the chain. While many multi-chain aggregators require end-users to select the separate chains and operate with the available tokens in that chain. Do the multiple chains built into Orion Terminal remain on the back end? How is the user experience?
Timothea | Orion
Protocol:
Absolutely! As a decentralized gateway to the digital asset market, Orion
Protocol has, and always will be, chain-agnostic. Indeed, many multi-chain
aggregators require end-users to select the separate chains and trade on the
tokens available on that chain. However, the multiple chains integrated into
Orion Terminal remain in the back-end for a seamless user experience. Upon
launch, Orion Terminal will be on Ethereum and Binance Smart Chain, with
Avalanche and Elrond scheduled for Q2
The multiple chains remain in the back-end for a user experience more akin to that of a CEX – but without surrendering your assets.
Andrés M. | Satoshi
Club:
Great work, I’m excited to see that officially😁
Timothea | Orion Protocol: Within the terminal, we have the order books of connected exchanges aggregated into one order book. For example, you can see orders from Binance, AscendEX (Bitmax), and Kucoin on the right.
Andrés M. | Satoshi Club: What about the fees? Could the users receive benefits by trading levels?
Timothea | Orion Protocol:
On Orion Swap, users only need to sign one trade for complex swaps without direct trading pairs (e.g. GRT > ORN) resulting in lower fees and faster execution.
Luis Merino 🇪🇸 | Satoshi
Club:
And how about the trading pairs? How many are there?
Timothea | Orion Protocol: Orion Terminal launched phase one of Main Net on the Ethereum blockchain. Since then, Orion has integrated and is in the process of integrating other chains compatible with the EVM (Ethereum Virtual Machine) for scalability, accessibility, and interoperability across multiple chains – while reducing costs.
Our expansion to BSC halves wait times for off-chain order
execution and on-chain order settlement. Transactions on BSC cost 135x less
than they currently cost on Ethereum, making commissions for deposits,
withdrawals, order execution, etc. on the terminal negligible.
Terminal users can save 20% on trading fees by using ORN. For trades that don’t use ORN, the trading fee is used to market buy ORN and permanently remove from circulation
On March 31st, around forty of the most liquid and popular pairs will be available across ETH and BSC, including BTC, ETH, LINK, DOT, ADA, YFI, UNI, OMG, GRT, BNB, and more.
Luis Merino 🇪🇸 | Satoshi Club: 20% not that bad 👀
Timothea | Orion
Protocol:
As the ecosystem grows, so will access to pairs. Orion will introduce a voting
mechanism into the protocol to introduce new pairs each week:
Voting
will be on-chain so only ORN holders can vote
Voters
will be able to choose from several assets and pairs weekly
Holders
will be given three days to submit their vote
Initially, new pairs will be proposed by Orion and voted on
by ORN holders. In time, this will become entirely decentralized, with ORN
holders proposing new pairs and voting on them. We wanted to give our community
as much control as possible in the selection of trading pairs available on
Orion Terminal, by starting with the most liquid pairs and allowing ORN holders
to vote moving forward.
Luis Merino 🇪🇸 | Satoshi Club: Thank you! 😊👍 Sounds great
Timothea | Orion Protocol: Indeed! There are lots of benefits to holding ORN.
Timothea | Orion
Protocol:
We’ve ensured deep utility of the token across the entire protocol, integrating
it into all main transactions to take the form of an internal currency or
utility token. ORN will give holders a range of benefits, plus additional
functionality including discounted trading, advanced features, protocol access,
and lucrative staking returns.
Andrés M. | Satoshi Club: So, which will be the main benefits for ORN holders different to that one?
Timothea | Orion
Protocol:
Users who hold ORN tokens will be able to unlock additional premium services on
the platform. ORN holders will be able to set advanced trading orders that are
not available to other users, such as controlling Stop Loss and Take Profit
parameters.
Holding ORN will also provide benefits for other products across the roadmap, including first access to Orion Margin Trading (the first 100x decentralized margin trading) and Orion Lending (aggregating lending APRs from centralized and decentralized providers for the best available rate).
But most of all, holding ORN enables the most profitable staking in DeFi, launching in Q2 🙂
Luis Merino 🇪🇸 | Satoshi Club: Can we know the APY?
Or is it a secret? 😅😅
Timothea | Orion Protocol:
Well, there’s no set APY as it’s determined based on several staking
parameters:
Protocol Daily Volume: This is the expected amount of
transactional volume that Orion Protocol has daily. What makes Orion different
to other aggregators/exchanges is that their protocol volume includes volume
from flagship product, Orion Terminal, combined with the volume from all other
DeFi products (including Liquidity Boost Plugin, DEX Kit, Enterprise Trade
Widget, and Launchpad Liquidity). Some of these solutions will already be
generating revenue prior to staking launch: ORN holders could yield huge
staking rewards from our B2B products alone since all transactions from B2B
products are executed via our Brokers.
Total ORN Staked: The current amount of ORN staked on Orion
Protocol. When main net staking is live, this number will display the live
amount of ORN staked on the Protocol (current circulating supply: 20 million,
of which ~12 million is staked).
Your ORN Staked: The amount of ORN you want to stake on
Orion Protocol. Please note, there is no minimum to stake.
ORN Market Price: The market price of ORN to determine the
USD value of your stake. As the volume increases, consider increasing ORN
Market Price to avoid an unrealistic APY.
Lockups: Rewards are compounded daily if you choose to receive them in ORN, and will be distributed to your stake automatically. Stakers can opt for no lock-up, 7 days lock-up, or 1-month lock-up, with the APY increasing with the lock uptime.
Andrés M. | Satoshi Club: Then is the perfect opportunity to buy 😁
Timothea | Orion
Protocol:
We’ve created a staking calculator (calc.orionprotocol.io) to allow holders to
determine their lucrative rewards. If, for example, we amassed the same daily
volume as SushiSwap (not even taking into consideration our B2B partnerships),
this volume would yield over 175% APY for ORN holders at current market price.
The returns are even more lucrative with increased volume from our B2B
partners.
To some, this could sound too good to be true… The yield-farming industry, rife with rugpulls, has left many skeptical of ‘unbelievable APYs’. Furthermore, some projects are able to offer high APYs due to the inflationary nature of most staking mechanisms, simply minting new tokens for rewards.
Luis Merino 🇪🇸 | Satoshi Club: Oh… My… God…
Timothea | Orion
Protocol:
Unlike other inflationary staking models, Orion staking rewards are not
generated through minting new tokens. ORN is supply-capped at 100m (though it
will never reach that due to a number of strategic methods to remove tokens
from circulation), and new tokens will never be minted.
Instead staking rewards are generated through volume from Orion Terminal, combined with the volume from all other DeFi products, some of which will be generating revenue prior to staking launch. As such, unlike other exchanges or aggregators, ORN holders could yield huge staking rewards from our B2B products alone. 🤑
Luis Merino 🇪🇸 | Satoshi
Club:
Thank you for your complete answers, Timothea
Are you ready for the next question? 😊
Timothea | Orion
Protocol:
I am indeed!
Luis Merino 🇪🇸 | Satoshi
Club:
@AndresM77 shoot it 🚀
Q2 from Telegram User @Gutike95 Now that we’re with the recent NFT token boom, could this really further increase the innovation Orion brings to projects that create their stores on it? How will the NFTs benefit those projects? Will they be able to create and sell it with Orion?
Timothea | Orion
Protocol:
Assuming they mean Orion, not Origin 😉
However, we recently announced that we’re building the first NFT aggregator – aggregating every NFT marketplace into Orion Terminal
Much like the wider crypto industry, NFT assets are fragmented across multiple marketplaces, with each marketplace competing for volume and visibility. By their very nature, NFTs are unique digital assets that cannot be replicated. As a result, sellers have to choose the marketplace they think will yield the best price for their assets, while buyers have to hop between multiple marketplaces to find the assets they’re looking for.
Orion Protocol is built on the most advanced liquidity aggregator ever developed, and will soon aggregate every digital asset exchange into one decentralized platform. It acts as a gateway to the fragmented crypto market, aggregating the liquidity, order book depth, and trading pairs of the market into one portal. In doing so, Orion Protocol will be the first platform that sits between the end user and the entire crypto market, including NFTs 🙂
Andrés M. | Satoshi Club: I hope😅, btw is interesting how this hot topic has influenced Orion protocol
Timothea | Orion Protocol: One point of access to NFTs will benefit seasoned NFT traders by reducing the need to trade across marketplaces while increasing accessibility of NFT assets to a wider userbase.
perhaps most critically, most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any ERC20 token for an NFT via a complex swap.
Indeed! Our business development team are always looking to build and expand depending on market needs
Luis Merino 🇪🇸 | Satoshi Club: Any ERC20 token. Sounds good. How are you going to deal with high gas fees?
Timothea | Orion
Protocol:
We have a few solutions in place, we’ll be releasing more info soon 🙂
Andrés M. | Satoshi Club: I see, DeFi, NFT, you are always in 👏
At the forefront I mean
Luis Merino 🇪🇸 | Satoshi Club: Looking forward to that new info. Gas fees are overwhelming 🤯
Timothea | Orion Protocol: 🙂 We’re constantly building. Through partnerships and internal development, Orion Terminal we want to become the portal to the crypto landscape. Additional features to be added this include lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, decentralized copying, and staking of any digital asset type.
Tell me about it 😣
That’s why we’ve already integrated BSC into the terminal, and look forward to integrating Avalanche and Elrond in the comng months!
Andrés M. | Satoshi Club: Yes, is interesting how do you provide solutions for that liquidity problem, could it represent a threat to Orion terminal?
Timothea | Orion Protocol: Not at all, Ethereum is an essential part of the ecosystem to enable integrating other chains compatible with the EVM (Ethereum Virtual Machine) for scalability, accessibility, and interoperability across multiple chains. We’re chain-agnostic though, and can add new chains as we see fit 🙂
Luis Merino 🇪🇸 | Satoshi Club: 💪💪
Timothea | Orion
Protocol:
The Ethereum network is incredibly expensive right now, but BSC ensures the
fees are minimal on the terminal
Andrés M. | Satoshi Club: Great work It seems you have everything under control💪
Thank you for this detailed answer, do you want to add something else before the next question?🥳
Timothea | Orion
Protocol:
Let’s move on to the next one 🙂
Q3 from Telegram User @Wormz28 On the website, I’ve read that one of your future features is the Staking of any digital asset type, and offering stakers high rewards is of the utmost importance to you. So how’s the process in Staking on Orion Protocol and how do you generate your Staking Rewards? Also, when is the exact release date of Orion’s Main Net Staking and is there a sign up for us to be notified as soon as Orion’s Main Net Staking goes live?
Timothea | Orion
Protocol:
Indeed, we’re in final testing of main net staking and it isn’t far away, but
we want to be able to provide significant staking rewards.
Staking rewards are generated through volume from the
Terminal as well as each B2B product. So, we’ve prioritized the development of
a number of our B2B solutions ahead of schedule to ensure significant volume on
staking launch, including Orion Liquidity Boost Plugin, Orion Launchpad
Liquidity, and Orion DEX Kit. All of this is to ensure high rewards for
stakers.
Luis Merino 🇪🇸 | Satoshi Club: I love that calculator. Very useful and easy to use 😊👍
Thanks for sharing.
Timothea | Orion
Protocol:
Staking rewards will be generated through protocol volume, which includes:
Orion Liquidity Boost Plugin (https://www.orionprotocol.io/liquidityboostplugin) to provide endless liquidity to exchanges (clients include COTI, Polkastarter, Polkamarkets, YFDAI, KeyTango, NORD, PlasmaPay, and more)
Orion Launchpad Liquidity (http://orionprotocol.io/launchpadliquidity) to build a swap DEX for launchpads that taps into all of our liquidity, allowing them to list incubated projects on their own DEX (clients include DuckDAO, Poolz, KickPad, and DAO Maker)
Orion Oracle (https://blog.orionprotocol.io/chainlinkoracles), enabling a market-leading price oracle that is resilient to price manipulation due to price derivation from every order book in the market (clients include Chainlink)
Orion Developer Kit (https://www.orionprotocol.io/developerkit), an open-source repository to allow anyone to build decentralized apps on the protocol (clients include BOT Ocean)
And so much more (including a DEX Kit, Collateral
Optimization, Wallet SDK Swap, Enterprise Trade Widget, etc). We could be here
all day talking about our DeFi solutions and their contribution to staking
returns 🙂
Luis Merino 🇪🇸 | Satoshi Club: 💪💪💪💪
Very complete answers.
Andrés M. | Satoshi
Club:
Yes, all that info only increase the excitement for the coming launching 💪
Luis Merino 🇪🇸 | Satoshi
Club:
With plenty of information. I’m very sure Satoshi Club community is enjoying
this AMA 😉
Timothea | Orion Protocol: Indeed! We’ve paid close attention to our predecessors, and identified one of the major causes of failure as lack of substantial revenue streams: focusing on one solution, one product, and one audience.
That’s not what we’re about – we’re here to build a
sustainable future of DeFi. That’s why we’ve developed an ever growing number
of revenue streams across over a dozen solutions for traders, crypto projects,
blockchains, and exchanges – each with the ORN token at its core.
Andrés M. | Satoshi
Club:
Btw, could you tell us more about your partner ecosystem?😃
Timothea | Orion
Protocol:
Absolutely! We’re astutely aware of the value of strong partnerships in
building out our ecosystem, expanding our offering, and ultimately ensuring our
sustainability. We’ve been focused on building out our ecosystem through
mutually-beneficial integrations with some of the leading projects across
multiple sectors, further developing our infrastructure, security,
accessibility, visibility, and more.
We have amassed over 40 partners so far, and we will continue to add to our ever-growing ecosystem.
This includes the likes of Chainlink, COTI, Binance, KuCoin, Elrond, and many more 🙂
Luis Merino 🇪🇸 | Satoshi Club: Huge partners! Congratulations 👏
Timothea | Orion Protocol: Indeed! And some big ones coming up 👀
Luis Merino 🇪🇸 | Satoshi
Club:
Partnerships are indeed the path to follow 💪
Andrés M. | Satoshi Club: Wow, really a big ecosystem
Timothea | Orion Protocol: Thanks 🙂
Andrés M. | Satoshi Club: I’m looking the name of “Certik”, they audited your platform? Could you give us more details about the audit process?
Timothea | Orion
Protocol:
Indeed, Certik has successfully completed a full-scale security audit,
including VAPT of the smart contracts and Substrate modules on the Terminal.
They’ll continue to audit every new and existing development and solution we
build!
Andrés M. | Satoshi Club: I’m impressed, you make a great job increasing the user trust 😁👏
Luis Merino 🇪🇸 | Satoshi Club: Fantastic!!! 👏👏👏
Timothea | Orion
Protocol:
We’re taking that a step further with our recent partnership with Polkacover
too 🙂
PolkaCover will provide a Whitelabel solution to offer insurance cover to Orion traders, including coverage for hacks of connected exchanges, legal fees, phishing attacks, and more to be added later. Orion Terminal is the decentralized gateway to the crypto market and will allow users to trade directly across any major exchange directly from their wallet – pulling in liquidity from major centralized exchanges. In the case that Orion Terminal users are trading on exchanges that are compromised, the exchange hack cover will protect users for their assets on those exchanges.
One of the leading concerns for new users coming on board is the security aspect of trading on any platform. This integration will reinforce the existing Orion Terminal safety net so users can trade with confidence, knowing their funds are safe from exploits, hacks, and rug pulls. https://blog.orionprotocol.io/polkacover
Andrés M. | Satoshi Club: That’s why traders need, a project that cares about them💪
Timothea | Orion Protocol: Indeed, safety and security is of paramount importance to us 🙂
Andrés M. | Satoshi Club: Thank you for providing all that info, I think the question is covered, are you ready for the next one?🥳
Timothea | Orion
Protocol:
For sure!
Q4 from Telegram User @marketingrentable One of the main problems in exchanges is liquidity, and currently, in the market, there are many liquidity exchanges to choose from, but very few or none, which guarantee the best performance of the funds. Based on this premise, what does the Orion Protocol project offer to users who mainly seek to achieve the best benefits in terms of liquidity and also minimize the risk of going to multiple exchanges?
Timothea | Orion Protocol: Good question.
To us, fragmentation, centralization, and liquidity are the biggest issues in the space and the largest barriers to the widespread adoption of the industry. Fragmentation of liquidity has certainly started to wear thin on traders, resulting in high spread, high slippage, lack of trading pairs, and the need for multiple accounts on different exchanges.
And as I mentioned earlier, risking your assets on centralized exchanges in order to access substantial liquidity.
With crypto having been described as “nothing more than a fight for liquidity”, the future lies in aggregation of the industry in its entirety. CEX aggregators and DEX aggregators have grown in popularity, but no entity has transcended the two to aggregate the crypto market into one decentralized platform. Until now 😄
The key to success is sustainability through any market – bull or bear. The reality is that regardless of the state of the market, traders and businesses alike need liquidity, volume, custody, and accessibility. They need one portal to access the entire crypto market in one place – without risking their assets. That’s why I’m confident that regardless of whether we’re in a bull or bear market, the industry needs Orion Protocol 🚀
Orion Terminal will help users save their time, money and assets:
Traders no longer need to waste time exchange-hopping:
traders will be able access major sources of liquidity in one place.
Eventually, this will encompass the entire crypto market.
Traders no longer need to worry about finding the best price
for their assets: by aggregating the order books of every exchange, Orion
Terminal guarantees the best prices possible, with almost zero spread and zero
slippage.
Traders no longer need to risk their assets to access
liquidity: traders simply connect their wallet and execute their order across
any exchange, centralized or decentralized, without the need for any exchange
accounts.
Andrés M. | Satoshi Club: Haha
Luis Merino 🇪🇸 | Satoshi Club: OMG
Timothea, how many fingers you have? 😂
Timothea | Orion
Protocol:
Hahahaa
Andrés M. | Satoshi Club: So, do you pretend to add all the exchanges at the same place? Which of them are you planning to add? I mean apart of Binance, Kucoin, Bitmax
Luis Merino 🇪🇸 | Satoshi
Club:
I’m shocked by your typing speed 😂
Timothea | Orion Protocol: Our goal is to aggregate every CEX, DEX, and swap pool. Currently, major exchange liquidity is already accessible through Binance, Bitmax, Kucoin and more, without the need for an account on any of these exchanges (or KYC)
Timothea | Orion
Protocol:
Uniswap is currently being integrated too 🙂
Luis Merino 🇪🇸 | Satoshi Club: Nice one 👏
Andrés M. | Satoshi Club: Amazing goal, what is the main objective in your roadmap for this 2021?
Luis Merino 🇪🇸 | Satoshi Club: 💪💪💪💪
Timothea | Orion Protocol: As I mentioned, our flagship product Orion Terminal (http://orionprotocol.io/orionterminal)will be live in 3 days. We already have ~100,000 users who have signed up for early access to the terminal, so we’re incredibly excited to see what launch brings us…
Our next major milestone is introducing Main Net staking.
We’re in final testing and it isn’t far away, but we want to be able to provide
significant staking rewards.
As I touched on, staking rewards are generated through volume from the Terminal as well as each B2B product. So, we’ve prioritized the development of a number of our B2B solutions ahead of schedule to ensure significant volume on staking launch to ensure high rewards for stakes.
Naturally, a major focus of ours is the NFT aggregator.
We’re working with a number of partners and marketplaces to have this ready as
soon as possible to capitalize on the insane NFT space right now!
You can find our roadmap here, but we’re intending on
delivering a number of these solutions ahead of schedule
blog.orionprotocol.io/2021
Additionally, expansion beyond the existing crypto space is critical for our sustainability as a business, and as an industry. Working with Alliance Block, we’ll provide the likes of private banks, wealth managers, and funds a singular, compliant, and non-custodial point of access to the crypto market – funneling new users and significant amounts of capital into the space. blog.orionprotocol.io/alliance-block
Andrés M. | Satoshi
Club:
Our best wishes in all your projects👏
Time to go with our next question, ready?😃
Timothea | Orion
Protocol:
Thank you!
Indeed 🙂
Q5 from Telegram User @AmirJosh What available wallets can we used to connect to Orion Protocol? Do you have a plan to create your own wallet or App in the future to serve the community more efficiently, for safe storing of assets, and another source of income for the platform?
Luis Merino 🇪🇸 | Satoshi
Club:
Interesting question 😊😊
Timothea | Orion Protocol: Currently, Coinbase, Fortmatic, and Metamask are integrated! We’re adding more though, including leading wallets. Interesting suggestion though 🙂
I Will feed it back to the team 😏
Andrés M. | Satoshi Club: Orion wallet, great idea😁
Luis Merino 🇪🇸 | Satoshi Club: Which ones are you planning to add in a near future?
Timothea | Orion Protocol: We are working on a Wallet Swap SDK, though! With traders increasingly storing their assets in wallets, why not remove any friction and allow decentralized trading of assets directly from users’ wallet of choice? This allows users of third-party crypto wallets the ability to access Orion’s liquidity via a swap widget directly integrated within the wallet’s interface. Wallet users will be able to swap crypto without leaving their wallet of choice, using liquidity of exchanges without the need for any exchange accounts. This will allow for the least slippage of any solution in market.
TrustWallet, etc 🙂
Luis Merino 🇪🇸 | Satoshi Club: Hahaha.
Ready for the last question of part 1? 😉😉
Timothea | Orion
Protocol:
I am indeed!
Q6 from Telegram User @mctrho In Q2-2021 of your roadmap, you will launch “Orion Margin Trading”, can you tell us a little about this novelty? What does it consist of? What benefits will it bring to users? Also, what are your plans after Q2 of your roadmap? Do you have current plans for this year 2021?
Andrés M. | Satoshi
Club:
Partially covered
Timothea | Orion
Protocol:
Indeed, through aggregating the liquidity of and depth of all major centralized
exchanges, Orion Protocol will be the first project to enable high-margin
trading not seen on a decentralized platform. Orion users will be able to earn
passive income on assets by lending their assets in our decentralized margin
trading solution.
2021 is pretty much covered above 🙂
Andrés M. | Satoshi
Club:
@timotheahorwell thank you so much for the amazing answers, I really enjoyed
this first part of the AMA, a lot of new info about the project, that’s what
our community likes😁👏👏
Timothea | Orion
Protocol:
Me too! Glad to be here 🙂
Part 2 — live questions from the Telegram community
Q1 from Telegram User @highpee Orion Protocol Token has a Total supply of 100,000,000 and you have said that your Circulating supply will never reach this peak, which is very assuring. So what strategic method will Orion Protocol be using to remove $ORN from circulation? How is $ORN designed to attain a DEFLATIONARY status?
Timothea | Orion Protocol: Our token is supply-capped, meaning no new tokens will ever be minted beyond the max supply of 100m. Max supply will never be in circulation either, due to a number of efforts to strategically remove tokens from circulation. Our significant staking rewards will create scarcity (~55% of tokens are currently staked, and that’s without our main net staking).
Additionally, licensing fees for each of our DeFi products will be used to market buy ORN and permanently remove them from circulation.
Traders using ORN will receive a discount on Orion Terminal. When ORN isn’t used, a portion of the fee will be used once again to market buy ORN and remove from circulation permanently.
Q2 from Telegram User @MCBTrade The purpose of DeFi implementation is to create a new financial system to replace traditional systems by eliminating subjectivity, bias and inefficiency. Does the Orion Protocol adopt this vision and how does it participate in the development of DeFi?
Timothea | Orion Protocol: Indeed, to me, it’s clear that a successful decentralized financial system won’t be measured by its ability to exist separately to centralized financial institutions, traditional or otherwise, but one that is able to act as an intermediary between the worlds consumers know and the immature world of DeFi.
DeFi projects must come to terms with the fact that the path towards true decentralized finance will only occur through collaboration, not just with other defi projects, but with traditional entities that monopolize much of the market.
Orion was born out of the need for an intermediate solution that bridges the gap between the centralized and decentralized worlds of crypto: building on decentralized technologies in the most critical parts of the system like custody and final settlement while pulling liquidity from the major players in market — centralized exchanges.
Q3 from Telegram User @BJosefina61 Does ORION PROTOCOL plan to include FIATS ramps within the ecosystem to complement Orion’s functionality as a preferred platform?
Timothea | Orion Protocol: Indeed, we have several partners for fiat on-ramp, including Mobile Pay, PlasmaPay, and COTI.
Q4 from Telegram User @Guandog Since you use CEX as well, does it imply that it is mandatory to pass an identity verification of the KYC type or similar?
Timothea | Orion Protocol: No KYC! Brokers with exchange accounts (or the exchanges themselves) carry out KYC on behalf of traders. Using Orion Terminal will allow access to major centralized exchange liquidity without the need for any accounts – or KYC. Simply trade securely from your wallet 🙂
Q5 from Telegram User @JasmineSha Dear @timotheahorwell, Congratulations on going live, If Orien is so fast as your typing speed it looks so promising 😂 Orien protocol promise to reduce time execution to the half right? At the same time, your goal is to aggregate every CEX, DEX pool, that is really amazing!!! how will you achieve this? execution time changing under pressure, so did you have performed a crowd pressure simulation test for your platform? another question about Ethereum, all talked about high gas fees, as we already know Ethereum 2 is coming and promising lower gas cost, more performance, do you have plans for the new ERC?
Timothea | Orion Protocol: Haha, thank you 😅 this is all made possible through our decentralized brokerage at our core.
The entire ecosystem is built on a network of Brokers running Orion Broker Software with accounts across multiple exchanges. This software allows their computers to automatically execute trades routed from the liquidity aggregator via their trading accounts.
Brokers are chosen to execute trades based on how much ORN, Orion’s native token, they stake in the Decentralized Brokerage. Brokers receive a portion of fees from each trade they execute.
Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered. Brokers are incentivized to offer attractive rates to Non-Broker Stakers to grow their stake, increasing their chance of being chosen.
Nothing is mined and brokers’ machines are simply used to execute transactions via their own account, making DPoB incredibly efficient and scalable.
Q6 from Telegram User @Xusuo From what i see Orion Protocol is a really good project, can you share how do i possibly purchase your token? any token sale or presale?
Timothea | Orion Protocol: Presale occurred last year, but we are now listed on Binance, AscendEX, Kucoin, Gate, and MXC! You can find the links here orionprotocol.io/ORN
Q7 from Telegram User @biggdata Currently, most investors are just looking for more gains, but ignore the long-term benefits of crypto. So what would you tell them about why they should buy and hold your token/coin over the long term?
Timothea | Orion Protocol: Well, as I touched on earlier the key to success is sustainability through any market – bull or bear. Regardless of the state of the market, traders and businesses alike need liquidity, volume, custody, and accessibility. They need one portal to access the entire crypto market in one place – without risking their assets. Regardless of whether we’re in a bull or bear market, the industry needs Orion Protocol 🚀
From inception, we’ve paid close attention to our predecessors and identified one of the major causes of failure is lack of substantial revenue streams: focusing on one solution, one product, and one audience. But we’re here to build a sustainable future for DeFi. As such, we’ve developed an ever-growing number of revenue streams across over a dozen solutions for traders, crypto projects, blockchains, and exchanges – each with the ORN token at its core.
Q8 from Telegram User @Kushal85127939 Could you please give us an overview of Tokenomics? Please mention the key point in it for us?
Timothea | Orion Protocol: Because it’s so important to our ecosystem, we’re committed to ensuring the sustainability of the ORN token. It’s supply-capped, meaning new tokens are never minted, while efforts are in place to strategically and frequently remove tokens from circulating supply. Orion has worked to ensure longevity of the supply-capped ORN token through a number of methods:
Unrivaled token utility
Non-inflationary staking
Diminishing supply
Strong holder benefits
Seventeen revenue streams
At the core of Orion Protocol is the ORN token. Orion has ensured deep utility of its native token across the entire protocol, integrating it into all main transactions to take the form of an internal currency or utility token. No product or feature can work without it: ORN is required for payments, staking, participation, the unlocking of advantageous network access with discounts on trading, oracle usage, and Protocol access.
The token utility of each additional DeFi solution lies in the integral role the ORN token plays in the decentralized brokerage, with every transaction within each solution acting as a trade being carried out by a broker. With seventeen revenue streams across twelve products, ORN’s token utility is practically unrivaled.
Q9 from Telegram User @Pratze Actually, I’m really interested in NFT Aggregator. There is so much exchanger aggregator out there but Orion Protocol is the 1st one who has this. Can you explain in short how does NFT aggregator works? Is that mean I can look and buy for NFT from other markets like open-sea, atomic, or other NFT markets using Orion protocol platform?
Timothea | Orion Protocol: Indeed! Major NFT marketplaces will provide liquidity to the Orion network to drive accessibility, liquidity, and volume. For the marketplaces themselves, this will provide an additional point of access to listed assets, driving significant volume to their marketplace and visibility for sellers. One point of access to NFTs will benefit seasoned NFT traders by reducing the need to trade across marketplaces while increasing the accessibility of NFT assets to a wider userbase. Typically, most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any ERC20 token for an NFT via a complex swap.
Q10 from Telegram User @feranno What technology do you own or use makes you more unique than others? Is Orion Protocol a more innovative and useful platform than other competing platforms?
Timothea | Orion Protocol: Everyone in the space needs liquidity in some form. Put simply, we’re building liquidity solutions for traders, blockchains, exchanges, and crypto projects on the most advanced liquidity aggregator ever developed.
I don’t think anyone in the space is really doing what we are. Parts of it, certainly. There are aggregators, there are DEX Kits, there are Developer Kits, there are Launch Pads. But no one is doing everything!
However, some community members have asked for comparisons between us and other aggregators, so I’ll share this. No shade to any of the projects of course 🙂
Welcome to another episode of our AMA
series. Today we are glad to tell you about the AMA session with our friends
from Polka Ventures.
Polka Ventures is a decentralized alternative investment
fund. The AMA took place on March 26 and our
guests was Patrick S. Dine.
The total reward pool was 500 $POLVEN 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 COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce
our AMA session with Polka Ventures! Welcome to Satoshi Club.
D | Satoshi Club:@patrick_polven
our today’s guest! good to have you here! welcome!
Patrick S. Dine: Hi everyone.
Mary | Satoshi Club: Patrick, please introduce yourself and tell us
more about Polka Ventures.
Patrick S. Dine: I’m Patrick, 48 yrs old, master’s degree from
George Washington University, I’m an entrepreneur, and I’m living in DC. It was
actually a friend of mine from Edge Technologies where I was working as a
manager who told me about this.
Mary | Satoshi Club: How can you describe Polka Ventures in some
sentences?
Patrick S. Dine: Polka Ventures is a decentralized alternative
investment fund. We invest in DeFi, crypto and blockchain projects that create
value and solve issues making blockchain simply better. The investment targets
have to a have a liquid token or planning to list it shortly. We provide seed
and early stage funding.
Polka Ventures announced that its Pre-sale event will take place this
Sunday 28th, so can you tell us what are the essential aspects that user must
complete to be able to join on it? Do we have time to enter yet?
Patrick S. Dine: Pre-Sale of POLVEN tokens will take place on
Sunday, March 28th, 2021 at 15:00 UTC. How to participate in the Pre-Sale?
The pre-sale will take place on the Bounce platform. In order to participate in the sale, you need to follow the link that will be posted on March 28th, 2021 at 15:00 UTC in our official Telegram (t.me/polkaventuresannouncements) and Twitter (https://twitter.com/PolkaVentures). Then, you connect your Metamask wallet to Bounce and make the fixed swap. More thorough instructions will be posted tomorrow. You don’t have to buy bounce token, you need only ETH in your wallet.
Q2 from Telegram user @ninoska0012
Polka Ventures invests in projects when they launch their token or
shortly before a listing through private sales. The community plays a very
important role: any member can submit a start-up project that has been
identified that matches our investment criteria. What are the criteria that
must be met to pass the preselection filter?
Patrick S. Dine: The projects have to be in the following sectors
of investment:
DeFi
NFT
Crypto
Blockchain
infrastructure
Secondly, the projects have to
match some standards like:
– Is the team reliable?
– Is there a market for the product
=> You can check out our
homepage and click on “Submit project”, there you can see all the
information we will check before investing if our community is voting for the
investment of course.
So, if you hold POLVEN token and
stake it then you can vote where to invest. And you are also entitled to
subject projects!
Mary | Satoshi Club: When team is s reliable? Will you accept
anonymous teams?
Patrick S. Dine: No, of course not. It is important that we can
check the team (personal background/ track record). The team is the most
important: If you have a bad product but a good team even this team will make
the product fly.
Q3 from Telegram user @meml97
While
reading your whitepaper I saw that Polka Ventures decided to launch not one,
but three funds pools called Lichtenstein, Warhol and Rauschenberg
respectively, so, can you tell us more about this fund pools? Why did you
decide to have three pools, when will each one of them take place, and what is
your target expectation for these pools? On what will this funds used for?
Also, I’m really curious about this names you gave them, can you tell us more
about it and where did they come from?
Patrick S. Dine: Polka Ventures will launch 3 funds (technically
speaking those are “pools”) named after 3 great painters of Pop Art and somehow
the “fathers” of the first polka dots…
1. Lichtenstein: The Lichtenstein
fund, named after pop art painter Roy Lichtenstein and somehow the father of «
polka dot » painting is our initial investment pool. It is funded from the DEX
raise.
2. Warhol: The Warhol fund is our
second funding pool to be launched in Q3 2021. This pool is meant to attract
more institutional investors.
3. Rauschenberg: The Rauschenberg
fund is our third funding pool. It is scheduled for Q1 2022 and will topple the
previous investment amounts. This fund and the previous might be a regulated
Jersey Private Fund (“JPF”).
Our target fund size will start
from USD 3 million for the first pool, USD 5 – 10 million for the second and
USD 20 million for the last pool to be launched in 2022 subject to previous
market performances.
Mary | Satoshi Club: Did you officially register your company? If
yes, where? And also, will you need licenses for any of your funds?
Patrick S. Dine: Yes, the company is registered in Hong Kong (=>
the address is on our website). We don’t need a license for these investments. Setting
up regulated fund structures is rather a requirement from institutional
investors but legally speaking we don’t need to do it.
Q4 from Telegram User @yellowchamp
Can
you explain more about the institutional investors that you are planning to
integrate this coming months in Polka Ventures network? Why choose those
investors? What gainful benefits you will get from each other as a partner? Are
you already in the process of negotiating with these investors? Aside from
institutional investors, do you plan to integrate other kind of investors in
the future? Thank you
Patrick S. Dine:Yes
absolutely, Institutional investors are more and more discovering crypto
investments, for example BlackRock just filed two licenses with the SEC in order
to do crypto investments. We have been approached by several institutional
investors, so they invest in Polka Ventures and we invest for them.
Mary | Satoshi Club: As i understand institutional investors have
high requirements for their investments. Did you have to change something in
your project to meet their requirements?
Patrick S. Dine: No, as we know their requirements. My colleague
Marco has been in the real estate investment/ finance industry for 15 years, he
was director at Bavarian State Bank, Dresdner Kleinwort, Paul was manager at Alpha
Bank, Slava was CEO at Legion, an investment company, and Nils is currently
invested in 20 companies.
Q5 from Telegram user @Arisabela
Your
governance method is “stake-based”, so everyone that holds enough of your
tokens can participate, how do you incentivize your voters to make good
apportations to your platform? Is there any way to reward them?
Patrick S. Dine: Our
system is designed to provide service for the users to stake specifically
created for that purpose tokens to get an interest that will depend on the
percent set by Polka Ventures. Our interest logic for staking is going to be
implemented using Compound logic that is designed to make the reward
distribution process fair for the system users. The main idea of the Compound
logic is to make a full time and rate dependent calculation of the reward
amount.
We will offer 2 types of staking at attractive rates:
Minimum of 6 months locked staking
Staking with no fixed duration – the duration is
set by the user himself
Our initial staking rate will be appr. 16%+. Polka Ventures
will also offer yield farming. You can gain high interest rates and generate
passive income by providing liquidity. Staking and yield farming will be
launched end of Q2 2021. We use Sybil platform.
Q6 from Telegram user
@lzamg
It’s great that start-ups
can get capital from platforms like Polka Ventures, but what happens if the
project you invest in doesn’t accomplish their goals? All investments entail
risk, so how are you prepared to face loss if that happens?
Patrick S. Dine: As
we only buy a liquid token we can exit at any. A traditional VC fund is
investing in equity. That means if you want to sell your participation you
first have to find a buyer and agree on a price. This could take several
months. That is far too long for DeFi and crypto. With a liquid coin we can
react within seconds!
PART 2, TELEGRAM COMMUNITY LIVE
QUESTIONS
The
chat was open for 120 seconds; a lot of questions were posted by Satoshi Club
community. Our guest chose some of them.
Q1 from Telegram User @Karoceh
Do you agree that there
is always a risk of loss in investing? what is Polka Ventures’ strategy to at
least reduce the risk of loss? Are you considering an insurance product, or do
you have your own mechanism to protect investor funds?
Patrick S. Dine: Venture capital is always a risk. Projects are
seeking for venture capital because they do not qualify for traditional bank
loans. But as we involve our community in evry investment decision we can rely
on thousands of brains and eyes who will screen the projects to invest in. Even
the best fund managers couldn’t do that
Q2 from Telegram User @andZer31
Do you have mechanisms
such as buyback and burning to regulate the demand and supply of $POLVEN?
Patrick S. Dine: No, we don’t. The tokens amount of 26.4 million is
quite low.
Q3 from Telegram User @Mynameloc
After token finishes airdrop, do you
plan on which exchange and exchange list will be the first place for POLVEN
token to be valid? let me know
Patrick S. Dine: We
will list on UNISWAP after the Pre Sales on Sunday. 25% of raised funds will be
looked in the liquidity pool, so of ETH 3,000 it will be ETH 750 plus the same
value in POLVEN tokens.
Q4 from Telegram User @Korryl
I read from your twitter that
PolkaVenture have won a nominee as one of the best project which have best
website Madeontilda by Tilda. Can you share what is Tilda and what effort that
PolkaVenture’s team already do to get this achievement?
Patrick S. Dine: Tilda
is a solution like Invision I would say.
Q5 from Telegram User @highpee
Your Project name is Polka Venture
which has sound similarity with PolkaDot. But I found out you will be launching
on Ethereum. Do you have consideration for Defi investment in PolkaDot chain
project? Or is there a limit to the blockchain and project you will be
venturing into?
Patrick S. Dine: Yes,
a Polka Dot version is in the pipeline too. We want to see that is fully
deployed with all features.
Q6 from Telegram User @rockmorti
If the market makes a long crash, is
it possible that PolkaVentures can protect itself, some mechanism?
Patrick S. Dine: Yes,
we hold a shredhold in USDT and USD, but let’s be fair: we won’t do miracles
either. Said so, during market corrections it is a good time to invest at a low
price. In crypto you have to be patient.
Q7 from Telegram User @K2ice
Less than 48 hours to your Presale.
Is there anything we need to know before then as regards participation and the
correct contract address? Is there a way to join before the presale starts or
we have to wait till the day before participating?
Patrick S. Dine: Pre-Sale
of POLVEN tokens will take place on Sunday, March 28th, 2021 at 15:00 UTC.
How to participate in the Pre-Sale?
The pre-sale will take place on the Bounce platform. In order to participate in the sale, you need to follow the link that will be posted on March 28th, 2021 at 15:00 UTC in our official Telegram (t.me/polkaventuresannouncements) and Twitter (https://twitter.com/PolkaVentures). Then, you connect your Metamask wallet to Bounce and make the fixed swap. More thorough instructions will be posted tomorrow. You don’t have to buy bounce token, you need only ETH in your wallet.
Q8 from Telegram User @meml97
One thing that caught my attention
was the fact that the team you show on your website looks (purely based on
their last names) very american and europian to me, but even that, Polka
Ventures is based in Hong Kong, so can you tell us more about it? Why did you
decide to based Polka Ventures there and not in another part of the world like
USA for example? Does this mean you are trying to penetrate the Asian market
first? If so, why did you decide to enter that market first? How could this be beneficial
for Polka Ventures?
Patrick S. Dine: Hong
Kong is one of the most dynamic financial places in the worl, I think they are
number 3 or 4. The legal frame is very business and crypto friendly and enjoys
a great stability. I hope some Asian advisors will join! Spread the word.
Q9 from Telegram User @K2ice
What can you say about the audit that
was recently conducted by Blackshot on the POLVEN smart contract? How can we
get access to this report and are you planning on doing another audit with a
different audit firm?
Patrick S. Dine:
Our POLVEN
token is a standard ERC20 token. We made an audit that was conducted by
Blackshot on March 19th, 2021. According to the audit, the “POLVEN smart
contract is well crafted, following common security practices. Full set of
tests were provided to enforce correctness. Issues that can impact on the
contract were not found. Some recommendations were proposed to follow best
practices.” Excited to get listed on Uniswap! The audit report is on our
Twitter account.
Q10 from Telegram User @K2ice
Is there a specific target of
projects that Polka Ventures invest in or just any kind of project is welcomed
on board?
Patrick S. Dine: The
projects have to be in the following sectors of investment:
DeFi
NFT
Crypto
Blockchain infrastructure
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi
Club Team asked the chat 4 questions about Polka Ventures. A
link to a Quiz form was sent into the chat. Participants had 10 minutes to
answer. 300 $POLVEN were distributed between the winners.
For more information and future AMAs, join our Social Media
channels:
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from BiTToken.Club and our guest were: – @Cryptojohnnyb – @CryptoAndres – @Krtklplz – @Strainz – @Crypto_0G
The AMA took place on the 27th of March. The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Goldie Rocket | Satoshi Club: Hello, dear community! We conclude our today’s AMA marathon series with BiTToken.Club. Today our guests are @Cryptojohnnyb @CryptoAndres @Krtklplz and @Strainz.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: So excited to be here!
Strainz: Glad to be here!!! Hello everyone!
Krtklplz: Hello!!! Awesome to be here again with you guys!!
Andrés M. | Satoshi Club: How is going your weekend?
Strainz: It’s been going great so far! Ready to ride this momentum through to next weekend!
Krtklplz: Awesome so far!
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: Even better now!
Goldie Rocket | Satoshi Club: We are always glad to see our friends here! Well! Let’s start! Introduce yourself. How did you get to be involved in crypto & BiTToken.Club? Tell us please about yourself and your position in BiTToken.Club. What is the essence of your project?
Andrés M. | Satoshi Club: And a brief description about what is BiTToken, please. @Crypto_0G welcome to the AMA.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: Hi there!
I came across cryptocurrency a number of years ago, but I never did a deep dive into the tech behind Bitcoin and what makes it so powerful. Whenever the lightbulb went off I knew that it was something that I wanted to be a part of.
I quit my job in foodservice, and I made some connections in the space and began doing freelance work. and then I got picked up by the BITToken and DEXKIT projects as the head communications officer.
“BITT is the native token for every crypto community! It is designed with the sole purpose in mind of rewarding group members and developing fun and unique utility for any project. BITT is a giving token that will evolve based on the needs of its holders.” – https://www.bittoken.club/litepaper/ The BITToken project is all about empowering communities by giving them a platform to reward devoted followers and give people incentive to buy, spend, and hold BITT!
Krtklplz: I am on the Bittoken marketing team and as many of our team members, I came from the Bitsquad community back when it was a little Crypto, hole-in-the-wall community that very few knew about. Since then the community has grown exponentially and from that, the Bittoken was born.
Bittoken is a community rewards token available to any community that wished to adopt it.
Strainz: I got involved in Crypto back in 2016 just slowly buying up BTC as I could afford at the time. Been investing/trading crypto ever since! I really started to get involved within the crypto community last year to get more of a social presence within the space as Idk many people in person who are into crypto that didn’t learn about it from me haha. I got really involved within BitBoy Lab Discord Server and started helping out with social media and marketing with the team. It’s been an awesome path to get here coming from the community to help with a community token!
Crypto 0G (2013): I started my crypto journey in late 2012 / early 2013. I am on the marketing team for BiTToken and help distribute BITT to the community on discord https://discord.com/invite/bitboylab.
Goldie Rocket | Satoshi Club: Thank you very much for the great intro! Ready to move on to questions from the community? Or want to add something?
Strainz: Ready to move forward!
Andrés M. | Satoshi Club: Q1 from Telegram User @Korryl Usually, a NFT doesn’t have utility and it’s for collection, so how about NFT from BITToken? What is the main use of NFT from your project? And can you please explain what is NFT “Founding Member” that BITToken has for their community?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is a fantastic question. It is difficult to answer in a brief manner.
The first NFT that will be available that will be exclusive to the project is the “Founding Member NFT” for initial farmers of the BITToken. It will also be available for purchase for users that did not have the opportunity to farm. By holding this NFT, users will receive a bonus for the BITT staking pool that will go live soon. It will also make holders eligible for other rewards from the platform.
Additionally, when NFTs are purchased with BITT, a portion of the ETH that is used in the transaction is converted to BITT and subsequently burned, deflating the 42M total supply.
Beyond that BITT will be integrated into the SANDBOX game where users will be able to use it as currency to purchase exclusive collectibles and give them exclusive access to experiences in the game!
Crypto 0G (2013): Direct from the website:
How Do NFTs Work?
NFTs are priced in ETH. The sale of an NFT will activate the BITT faucet calculating a percentage of the ETH used to purchase the collectible to subsequently burn BITTokens. Some NFT purchases will also reward you with BITT airdrops directly to your wallet. Each NFT is uniquely individual and possesses special utility. Anyone who accrues at least 10,000 tokens from the initial BITT farm will be awarded a ‘Founding Member’ NFT. The ‘FMNFT’ is a special collectible that will give holders staking bonuses and rewards. NFT use-cases include:
NFT staking to earn fees generated deployed BITToken Tools.
Discounted trading fees on the Bitswap DEX.
Deflation of the total BITT supply through the purchasing burn mechanism.
Access to exclusive rewards and experiences.
Staking bonus multipliers.
Unique utility based on different NFT types.
Andrés M. | Satoshi Club: What is the price to buy those NFTs?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: This has yet to be announced. ETH has been a killer with high network traffic.
Strainz: So much more than just a collectible.
Krtklplz: NFT’s are a huge topic of discussion. The Bittoken team and the Bitsquad community were thinking NFT utility before NFT’s were cool!
Andrés M. | Satoshi Club: That’s amazing, benefits for collectors and for holders 😁 But, could you share the design of some NFTs with us?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: We have to be strategic about how we use our limited funds. We are a community project, so we had no presale. We have had a large amount of organic growth and we have a number of things going on behind the scenes that will make the community extremely excited.
Goldie Rocket | Satoshi Club: Lol😁 You sell prototypes of team members. It is very unusual. Actually, the product looks great👍
Crypto 0G (2013): BITT is partnered with DexKit and will be benefiting from all the innovative apps they are releasing, most of which help save a tremendous amount on ETH Gas Fees. We have an aggregator and DEX launched at the moment: https://bitswapdex.io https://bittdex.io
With the DEX users can place Gas Free Limit Orders, so no gas is required because the taker of the order pays the gas fee.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: We have great advisors and partners with BitBoy Crypto and CryptoCrow being the first.
Andrés M. | Satoshi Club: Thanks for these clear answers guys, are you ready to proceed with the next question?🥳
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: Let’s do it!
Andrés M. | Satoshi Club: Q2 from Telegram User @JoanaZ BITToken is designed to reward token holders in fun and interesting ways, so what type of reward do they receive? What makes rewards fun?
Krtklplz: Speaking of no-presale I want to point out how we are distributing the tokens. Because Bittoken is a community rewards token we are distributing directly to the community via airdrops, promotions and what we call ” Bitt Parties” this is my airdrop amount… https://discord.gg/PGAqS8vy
Goldie Rocket | Satoshi Club: To be honest, I am already getting this token in tip cc 😁
Crypto 0G (2013): Currently, we have fun parties and airdrops on the discord and distribute BITT to all community members that participate. When the Sandbox game is released, we will continue that fun on the game as well as BITT has a few plots of land on the game already, so holders of BITT will benefit lots of giveaways are done on the discord so if any of the people here are not apart of it yet you are welcome to join us. We have a promo coming up for Easter that technically has not been announced yet 😉
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: The beautiful thing about the project is that as more communities adopt BITToken, they can implement them into any product they want. So far the first use case for BITT is a discount on fees from the Bitswap aggregator https://bitswapdex.io/#/
As the Bitswap platform grows, there will be more discounts and opportunities for users to save on applications.
Communities can also use paying with BITT as a way to get discounts on other products like subscriptions or NFTs. The TIP.CC bot will also be integrated into Telegram, so maybe we could look at a partnership with https://t.me/Satoshi_club
Krtklplz: Yeah, we were able to secure a promotional partnership with the tip.cc, team which allows us to promote the project on their server as well.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: No pressure of course. The point is that we want to give ANY community an opportunity to spread the BITT! 🙂
Andrés M. | Satoshi Club: Waiting for the promo 😁 any easter egg for us?
Krtklplz: We are estimating (estimating because we are continuously adding to this number) that we as a team have given out somewhere around 650,000 tokens to the community at today’s prices that would be somewhere in the ballpark of $175,000 in dollar value.
Andrés M. | Satoshi Club: How many communities have you at the moment?
Crypto 0G (2013): Still working out the details with the team. but it should be a good one. Hint: buy and hold at least 500 BITT. That’s all I can say for now …
Krtklplz: Currently, we have partnerships with 2 influencers communities Crypto Crow and Bitboy Crypto however we are in talks or in the initial steps to add more. We even have a game designer considering adding Bittoken as the currency within his game (inside info). We will help to incorporate Bittoken into any community that wishes us to do so.
Andrés M. | Satoshi Club: Do you have something to add guys or can we proceed with the next question?
Crypto 0G (2013): Next.
Andrés M. | Satoshi Club: Q3 from Telegram User @konditer_rolex I saw earlier the BITT token in the tip.cc. bot in Discord. Typically, this bot is used to actively distribute tokens among seekers of free drops and rains for activity on servers. What do you reward users for in discord? Or is using a bot a solution to the gas problem on the Ethereum network?
Krtklplz: Absolutely! using the tip.cc bot allows us to distribute tokens to a wide variety of communities and individuals while skirting the gas fee situation however we have held airdrops outside of the discord servers. We had an airdrop shortly after launch to reward community members who were using the Bitswapdex and Dexkit powered aggregators. This was dropped directly to wallets and gas covered by the Bittoken project.
Crypto 0G (2013): Tip.cc bot is a great solution for us to help distribute and reward the community via discord and when support for Telegram is ready we plan to use them as well to do airdrops via telegram. it does help save ETH gas fees upfront.
Goldie Rocket | Satoshi Club: Thank you very much for your answers! Ready to proceed to the next question?
Krtklplz: Let’s do it!
Andrés M. | Satoshi Club: Q4 from Telegram User @Brainchest As a community administrator, I am interested in how flexible the rewards can be. Is it possible to reward community members for tweeting a post that tracks a new user’s registration in a telegram?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: ANYTHING is possible with BITToken! Once administrators have control of a discord wallet packed with BITT, they can incentivize community calls to action. That is one of the absolutely BEAUTIFUL things about the project. There are so many communities out there, but because of that it is difficult to maintain momentum. BITT is a great way to keep people around and keep them happy. 🎉
Just want to highlight this again. With these kinds of drops, who wouldn’t want to support the token and the community?
Crypto 0G (2013): This is a pretty technical question and up to the person doing this and would require more than just BITT, you could do it though but via Telegram that I know of at the moment. Tip.cc and collab.land is a solution I would use. but tip.cc does not support telegram until later this year.
Andrés M. | Satoshi Club: I work as CM, and it’s true, that’s a great way to increase the activity in the groups.
Goldie Rocket | Satoshi Club: Is there an opportunity for a tweeter?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: One of the things we did in our server early on is building our Twitter following. Every time we increased our Retweet count for a specific tweet, we would airdrop BITT. This was an EASY way to reward engagement. Give us a follow for event announcements! https://twitter.com/BiTToken_Club
Andrés M. | Satoshi Club: Are you looking for telegram options? For example tip.cc
Krtklplz: Not only was it a way to reward engagement but was super fun for both us and the community! I would like to point out that some of our community engagement parties have lasted for days on end.
Crypto 0G (2013): Currently, our focus is more on Discord it’s a lot more flexible and controllable than Telegram, but we will continue using tip.cc When they have support for TG, I’m sure we will use it to reward our members.
Andrés M. | Satoshi Club: Thank you for the clarification. Ready for the next question guys, or do you want to add something else?
Goldie Rocket | Satoshi Club: Don’t forget to share with Satoshi Club when releasing this feature😉
Crypto 0G (2013): Yes of course we 🧡 your community and appreciate you having us here.
Andrés M. | Satoshi Club: Q5 from Telegram User @Izamg I would like to know about the BITToken ultimate goal. What do you expect to accomplish within the whole crypto ecosystem? How do you plan to leave your mark and impact the crypto users? What long-term advantages will you bring to the crypto space?
Crypto 0G (2013): Future Utility The BITToken project is constantly evolving and prioritizes integrating multiple products and services seamlessly into the diverse sphere of crypto communities. Members of the Bitsquad and other participating communities can expect to receive regular rewards for their support and contributions to the continuing success of the BITToken project. This is the core value of the BITToken and every future decision will be for the betterment of its holders because BITT is creating the largest and most dynamic community in crypto. The future of the BITToken project will be dynamically attuned to the rapidly changing crypto markets. Products and services will continue to be developed and the utility for BITT will expand dramatically along the way. The eventual result will be the most robust and valuable ecosystem in the cryptocurrency space.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: We’re all crypto heads here. That is a FACT. We all have differences, however. We are involved with different projects and we have different values. One thing is certain, however. We LOVE crypto and we want to see adoption increase across the board. BITToken is all about increasing adoption and bridging the gap between hardcore crypto heads and newbies.
Additionally BITT knows that people give based on what they get. We believe that regular rewards will incentivize community growth and interaction while also providing a link BETWEEN communities in the space. We have an ambitious goal, but we are not going away, no matter what.
Crypto 0G (2013): Our ultimate goal is to be a community-focused project and we will strive to become the token that big communities want to use… We are still a very new project and surely will evolve over time. https://www.coingecko.com/en/coins/bittoken
Andrés M. | Satoshi Club: Could you tell us about your roadmap? Which is your main objective for 2021?
Krtklplz: The focus is the community… Building communities and strengthening community. That in and of itself will have a lasting impact on the space as a whole.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is EXCLUSIVE NEWS GUYS. You are the 1st to KNOW!
Goldie Rocket | Satoshi Club: Community is the blood of the project! This is power and success! 🚀🚀🚀
Crypto 0G (2013): Roadmap:
Q1 (2021)
Launch of BITT NFT Marketplace.
Value. The NFT Marketplace will allow users to buy and sell any NFT including exclusive NFT’s that will be usable in Sandbox.game and the BITT ecosystem.
Launch of The BITT DEX - Value Next generation DEX with free cancellation / placement of orders.
Q2 (2021)
Launch Advanced Trading Tools for DEFI.
Value Users of the upcoming BITT DEX and BITT Advanced Trading Tools such as limit orders, stop limits and arbitrage bots will need to hold BITT in order to use these features and are rewarded for holding BiTTokens through the staking mechanism.
Q3 (2021)
Multicurrency Support
Value support BITT Tools on other blockchains.
Q4 (2021)
Atomic Swap
Value Make Atomic Swaps within BITT Tools.
We have a lot of use cases planned for the Sandbox.game for BITT, still waiting on the launch of their game.
Andrés M. | Satoshi Club: Thanks for share it, interesting info. “Advanced Trading Tools for DEFI” – like which?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: This will be for the upcoming BiswapDEX that is in production. It is powered by DEXKIT and will feature GAS FREE LIMIT ORDERS, KeeperDAO order book, as well as eventual trading bot integrations. The Bitswapdex.io is also getting a MAJOR upgrade with the integration of BSC into the aggregator!
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: You can try out the beta version at beta.swap.dexkit.com
Krtklplz: As you know Bittoken is partnered with Dexkit and therefore uses the Dexkit white label solutions to include the Bitswap aggregator and the BitDex. Whereas holding Bitt will allow for further rewards on these platforms.
Andrés M. | Satoshi Club: Thank you guys for the answers, you are doing impressive work 😁👏 Well, it has been an amazing time, now let’s proceed with the last question of this first part of the AMA, are you ready?
Crypto 0G (2013):
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: I think it is important to highlight what crypto stands for. DECENTRALIZATION. The BITToken itself is HIGHLY decentralized with liquidity on UNISWAP, MOONISWAP, and BILAXY. We are also actively working on Bridging the BITToken to the BSC. Having multiple sources makes trading BITT like a game in which you can use our Bitswapdex.io aggregator to take advantage of arbitrage opportunities.
Additionally, there is tremendous upside potential as we still only have around 1000 holders and a micro-market cap of below $1m. https://www.coingecko.com/en/coins/bittoken NEVER FINANCIAL ADVICE!
Krtklplz: In addition to everything mentioned above, Holding Bitt also has the added benefit of allowing entry into some special chat rooms within the Bitboy Lab discord server… One such chat room allows members to receive trade signals from The Butcher, a professional trader and market analyst!
Andrés M. | Satoshi Club: So, VIP benefits for holders.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: We have some absolutely INCREDIBLE traders in the lab. If you hold a certain amount of BITT, you can unlock exclusive channels that are normally only accessible to VIPs! https://discord.gg/bitboylab
Crypto 0G (2013): Yes, hold 500 BITT in your personal wallet to get access to that VIP channel.
Andrés M. | Satoshi Club: Wow, then what are the benefits for Bittoken whales?
Krtklplz: This is the 500 bitt holders chat.
Crypto 0G (2013): We have yet to implement benefits for whales chat yet, but there definitively will be something in the Easter promo for the users in that chat.
Andrés M. | Satoshi Club: Thank you so much, for share all this info with us guys, is time for the last question of this part.
Q6 from Telegram User @belkysgonzalez I read that the Bitswap wallet supports ERC20, BTC and Polkadot, right? Does this mean that Bitswap has cross-chain features? Have you thought about integrating BSC too, since lately is attracting users’ attention?
Crypto 0G (2013): BSC is planned yes. We will try to implement BITT into as many chains as we can.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: The 0x protocol is what DEXKIT is built on. BITToken is able to benefit secondhand from the implementations of the 0x protocol. “Middleware” is something that will become more and more needed as secondary chains like DOT and ADA start to develop. BITToken and DEXKIT are at the top of the heap when it comes to cross-protocol and cross-chain integrations!
Goldie Rocket | Satoshi Club: And that’s great. cross-chain is what is needed now in crypto. Well guys! this amazing part of the AMA is over. but we’re moving on to an even more exciting part – live questions in open chat. ❤️🚀 Аre you ready? Or want to add something?
Crypto 0G (2013): Ready.
Part 2 — live questions from the Telegram community
Q1 from Telegram user @ ꧁ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ ꧂
🤠 You say that if users own at least 2500 BITTokens they will receive up to 90% discount on fees and those holders will only pay 0.01 fees for each trade, so how do they achieve such a low fee? If I have more than 2500 BITT can I receive a higher discount? Doesn’t this generate any loss for the project?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: So the idea with fee collection is that we want to be THE PLACE to trade tokens on Defi protocols! The Bitswapdex.io platform searches over 20 different DEX protocols on ETH and will search 8 protocols on BSC with the new integration. This means that especially for LARGE trades for tokens across multiple liquidity sources, you can get MORE TOKENS FOR YOUR SWAPS.
Anyone that uses the Bitswap platform without holding BITT will be subjected to a slightly higher platform fee that will help grow the project in the long run. Also, hodling BITT gives additional utility to Discord integrations, NFTs, as well as upcoming SANDBOX integrations!
Low platform fees are just another way that we try to reward users of the platform and token holders!
Q2 from Telegram user @ Rosemary Bianco
Any thoughts on the AMA at Satoshi Club? Did the BiTToken team really like it?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: Personally, I LOVE this group! We always feel welcome here and we love to evangelize about our project and what we are doing!
This group really embodies EVERYTHING that the BITToken project values. It is a diverse group of intelligent people who are discerning about what projects have true long-term value.
We believe that being one of the only true decentralized community tokens will help us to stand out, and it will only be a matter of time before we see more adoption and development of the rich BITToken ecosystem! 🚀
Q3 from Telegram user @ Anderson Ico speaks community is scam
Do you have plans of burning and buyback of $BITT? how do you want to maintain its price and supply uniformly?
Crypto 0G (2013): We have plans to use the NFT marketplace when launched to possibly burn BITT.
The sale of an NFT will activate the BITT faucet calculating a percentage of the ETH used to purchase the collectible to subsequently burn BITTokens. Some NFT purchases will also reward you with BITT airdrops directly to your wallet. Each NFT is uniquely individual and possesses special utility.
Q4 from Telegram user @ Icy
I see that Bittoken also have farm system but do you have benefit for user/project who hold BITToken? Thank you.
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: I can’t believe we forgot to highlight this! 🚜
Currently, you can farm for BITT with KIT/ETH LP on Sale.dexkit.com! We have a solid group of holders and we love to reward them in this way.
We also will have a BITT staking pool in which users can stake their BITT and earn ETH from the fee pool in return! We know that this will make long-term holders want to continue to support us and potentially even acquire MORE BITT!
Q5 from Telegram user @ Comfort Akin
Hi 🖖Recently, the first BITToken’s centralized exchange arrived, apart from trading activities. how can users benefit from this listing👍
Strainz: Well by BiTToken being listed on Bilaxy it gives more choice to BITT holders and prospective buyers to trade BITT where it is most convenient. This makes it much more convenient for example say someone who likes to use mostly BTC wants to buy BiTT but doesn’t want to use the DEX, this makes it much easier for them to acquire BiTT and swap from BTC.
Q6 from Telegram user @ Surendra Satoshi Club
Can anyone please give me the contract address to buy BITT? Where can I buy any CEX or DEX?
According to its website, practically the BITT has the objective of constantly rewarding and benefiting the community, offering incentives, discounts, air launches and other things. My question is, why have you decided to reward the active community so much? Why have they focused on their users having fun and benefiting from constant rewards?
🤠TheCryptoCowboy.eth | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is much of what the project is based around. It is a project that is designed to be accessible to newcomers and hardened crypto heads alike. We believe that crypto can be more than just a means of making money. The social implications of crypto are something that is often overlooked in the space.
Especially with the current state of the world, crypto holds the key to not only financial freedom but also social freedom in the form of self custody of personal data.
NFT integrations are a huge part of this social interplay. ALL NFTS will be available for purchase as soon as the platform is complete, and we have a BIG promotion coming up to celebrate our progress!
Q8 from Telegram user @ Ate Pie
As a community-driven project that is designed to reward members of every crypto-community for their contribution and participation in to the crypto space. So, how will you intend to reward the community? How do you also intend to reward your loyal community members?
Crypto 0G (2013): We have been rewarding our community by distributing BITT to as many users as possible via airdrops on discord. Any community can adopt BITT and reward its loyal members. 19% of the 42M BITT is dedicated to Marketing, Airdrops and community payments.
Q9 from Telegram user @ KYC
How and where can I buy Tokens to hold in long term?
Crypto 0G (2013): Currently, the best place to buy BITT is via our aggregator at https://bitswapdex.io You can hold them in any ERC-20 wallet.
Q10 from Telegram user @ Johnny ℹ️🅿️
🙋♂️Hello. Is your Founding Member NFT limited to the project Founding team members or Will it be possible for late comers to get it? Also, apart from this Founding Members NFTs, will there be other NFTs that you are going to have which will have great utility?
Crypto 0G (2013): The founding member NFT will go out to all users that farmed over 10k BITT during our initial launch. Users will be able to use them or sell them. We will launch more NFT with special use cases in the future.
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:
PART 1. Introduction of Cere network header project and community questions.
Hello, Satoshi clubbers and guests of this site. We are happy to present you with a Decentralized Data Cloud Platform – Cere Network.
Cere SaaS-DeFi enables enterprises to better utilize their sidelined capital, optimize their financial operations, create frictionless payment experiences for their customer base, and tap into the supercharged liquidity of DeFi.
DxSale.network is building a true decentralized, blockchain agnostic user experience of the token journey.
We conclude our today’s ama marathon series with cere network. 😃 today our guest is @broersma – Martijn Broersma, head of marketing. Hello and welcome to satoshi club, Martijn!👋
Andrés m. | satoshi club:
@broersma welcome to satoshi club, we are glad to have you here, how is going your day?
Martijn broersma:
Great! Been travelling from Ams to Minsk today, first time in months to be on the road for business again 🙂
And happy to be here of course!
Gold rocket | satoshi club:
We are very excited about the upcoming ama and are very happy to have you here today on the way to Minsk 😁
Andrés m. | satoshi club:
Good luck in your travel💪
Martijn broersma:
Just got settled for this ama. Looking forward to the questions!
Andrés m. | satoshi club:
We are so interested in your project; a lot of questions are coming😁
Gold rocket | satoshi club:
Let’s start!
Introduce yourself, please. How did you get to be involved in the crypto & cere network?😊
Martijn broersma:
Sure!
I studied law in Amsterdam, started working for the Netherlands biggest online notary, which turned into a legaltech startup that did contract lifecycle management, where i became coo.
That legaltech spinning-off into LTO network for b2b enterprise blockchain solutions, where I had an amazing time and experiences in doing the LTO token sale, getting listed on exchanges, going to Binance and even integrating the un to the lto chain.
After 5 years it was time for a new challenge, which I found at cere, which has been a crazy but exciting journey so far. You’ll learn why in the upcoming answers 😉
Andrés m. | satoshi club:
Great background
Gold rocket | satoshi club:
Nice, 😊 what is the essence of your project?
How long does it take to develop a project? What plans do you have for the future? And what can we expect from cere network?
Martijn broersma:
The team has been working on cere for over 2 years, which was accelerated by the Binance incubation program.
Cere network is the first decentralized data cloud platform optimized for service data integration and data collaboration. While most blockchains are simply distributed ledgers, the cere network of blockchains allows for turnkey hyper-customization of enterprise data ecosystems.
I think our future plans will all follow from the upcoming answers!
Gold rocket | satoshi club:
It sounds very in the spirit of the times. Mass adoption in action.
Martijn broersma:
Onboarding fortune 1000 enterprises as we speak!
Gold rocket | satoshi club:
Grandiose plans and goals!!! 👏👏👏
Thanks a lot for the intro! Ready to jump on to community questions, or would you like to add something? 😊
Preselected questions about the Cere Network DeFi project.
Andrés m. | satoshi club:
Q1 from telegram user @highpee
While reading the details of your project, i came across a concept which cere is developing which is known as “saas-defi”. Can you explain more on the peculiar advantages of this feature? What does this concept entail and how will it integrate the traditional business model into DeFi? What resources will a traditional business client require if they intend to build on the provisions of this concept and migrate their assets and contracts from cere layer 2 decentralized hub into the realm of decentralized finance?
Martijn broersma:
In short, every value transfer, enterprise asset, b2b contract, and invoice can be mapped to the DeFi realm via cere’s saas-DeFi modules
This way, cere instantly offers next-gen finance for corporate finance departments of enterprises with a click of a button, fully automated.
Together with our partners from the saas-DeFi alliance, we will be the first projects to bridge enterprise capital with DeFi liquidity.
More info will follow soon! Super excited about this feature
Gold rocket | satoshi club:
What are the advantages of your proposed model?
More precisely than you are proud of at the moment😊
Martijn broersma:
Of saas DeFi?
Gold rocket | satoshi club:
Yes
Martijn broersma:
The fact that we’re already onboarding these enterprises to the cere ecosystem. Once they’re in, we can start introducing more and more features to them. This is where cere is truly differentiating itself from its competitors
Andrés m. | satoshi club:
Could it be applied to centralized enterprises?
Martijn broersma:
Easily. It’s not the tech that’s the hurdle, it’s the trust that businesses need to have in your company and team
I’ve been selling blockchain to enterprises for 5 years. Every time you run into the same walls that you need to break down since they’re cautious of everything blockchain. But once they’re in, since you offer direct value, you can basically sell them anything you want.
Such as the cere open data marketplace, but we’ll get to that in a moment I think 🙂
Gold rocket | satoshi club:
You are a great marketer 😁👍
Andrés m. | satoshi club:
Indeed, it takes importance in this times when blockchain has been implemented in the companies to reduce cost and increase value
Gold rocket | satoshi club:
Thanks for the answer and clarification. Ready to move on to the next question? 😊
Martijn broersma:
Yes!
Andrés m. | satoshi club:
Q2 from telegram user @garrinepotter
You are already being called a future competitor of companies such as Salesforce and oracle. And your offer of full integration of various operational areas of the company is a miracle solution. So, what do you offer companies to manage their cash reserves? You have huge support from serious players in the crypto industry. This is inspiring confidence, but so far it is absolutely not clear what innovation you can offer us.
Martijn broersma:
Traditional CRM’s are outdated, expensive, hard to integrate with today’s intelligent (ai) and data-driven solutions. New data cloud solutions like snowflake are disrupting these traditional crm’s by offering much more flexibility and faster integrations, e.g. Bringing near real-time computing onto highly dynamic and customizable datasets.
The key to cere’s approach is that we bring even more data agility and more data interoperability, and we have an open approach compared to the proprietary snowflake; also we are more focused on consumer enterprises with more highly customizable solutions in special verticals.
As opposed to the sap/oracles from this world.
Andrés m. | satoshi club:
What are the main features that can make cere different to direct competitors?
Martijn broersma:
Our decentralized data cloud platform.
Creating individual wallets/ledgers for every customer creates a whole new world of data-management possibilities.
Much more info on the exact workings of the DDC will be published in the white paper that will be published shortly.
Gold rocket | satoshi club:
Yes, the benefits are obvious! 👍
Andrés m. | satoshi club:
We will be waiting for it to know more, that’s really interesting🤔
Thanks for the detailed answer, are you ready to proceed with the next question?
Martijn broersma:
Keep them coming.
Andrés m. | satoshi club:
Q3 from telegram user @korryl
After learning about your project, cere network gives a new solution and strategy to increase their brand network. So what is the effect for retail level? Do small projects and small retail can get benefit from this strategy?
Martijn broersma:
Great question
Because that’s the project’s main goal – making our solution available for every business.
So first we’re building custom solutions for fortune 1000 enterprises for revenue and coverage, while in parallel working on data-driven use cases and self-service tools.
This approach will allow us to scale like no other enterprise blockchain project has done before.
Gold rocket | satoshi club:
Great infographics btw 👍
Andrés m. | satoshi club:
Could you tell us about some of those enterprises? I mean we want to know about your current and planned partnerships.
Martijn broersma:
We have 3 ongoing enterprise integrations, with the first one already live is with a travel center chain with over 300 locations in us, limited beta is already live, and us full rollout is planned for April 2021 reaching over 100k active users. Two other integrations with fortune 1000 companies are already set up for q2 2021, the first of which alone will scale from 1m to 50m users over 2021.
Andrés m. | satoshi club:
Wow, those are great milestones.
Gold rocket | satoshi club:
Scaling corporate business is very important😊
By the way, how did you settle the issues with the American crypto legislation?
Martijn broersma:
Haha, you have no idea how much headache this has been. But we achieved it. More info on this soon via republic.co!
Gold rocket | satoshi club:
I can only guess. Once I came across this. And I can say that you are really winners since you managed to solve it 😁👏👏👏
Gold rocket | satoshi club:
Thank you very much for your answers and information. Are you ready to proceed to the next question?
Martijn broersma:
Let’s do it 🙂
Andrés m. | satoshi club:
Q4 from telegram user @pratze
There is a new announcement this month from cere network, that you already work together with Darwinian (decentralized of the cross-chain bridge). Is there any new feature in the cere platform because of this partnership? What application that Darwinia will provide cere network with?
Martijn broersma:
Darwinia’s dot-eth bridge is a perfect example of how we’re planning to utilize our partner’s tech. We could build it ourselves but integrate is simply much faster and easier for us. Darwinia has been a great partner and I’m very excited to see the bridge connected to cere!
Gold rocket | satoshi club:
What cooperation with darwinia gave you
Martijn broersma:
The integration is planned for post-crowd sale & alpha mainnet release
Andrés m. | satoshi club:
Btw, talking about cere as a platform where security is so important, have you been audited, or are you in the process to be? Please share details
Martijn broersma:
Yes, we’re currently undergoing an audit by the best security company in crypto.
We’ll release these results soon. Almost done 🙂
Andrés m. | satoshi club:
Any short easter egg for us? 😁
Martijn broersma:
Project is safe 😉
Andrés m. | satoshi club:
We are happy to know it. Now, tokenomics is an interesting topic for our community, could you share how is distributed the amount of tokens?
Martijn broersma:
Unfortunately not yet… Again, follow the announcement channel to be the first to know!
Andrés m. | satoshi club:
Thank you so much Martijn, we will be expecting that. Would you like to add something before the next question?🥳
Martijn broersma:
Nope, all good!
Andrés m. | satoshi club:
Q5 from telegram user @xusuo
I read from your site that the Cere network has backing Binance labs, is that mean the Cere network will launch in BSC blockchain? Is there any plan in the future to expand to other blockchains like eth, HECO, or maybe Polkadot?
Martijn broersma:
Cere has built its own layer-1 blockchain network with customized substrate components, driving to be one of the foundational level-1 blockchain networks in the Polkadot ecosystem. This effectively allows cere solutions to extend to all other w3f projects natively, and further to other decentralized networks (like BSC) in the future.
Andrés m. | satoshi club:
Thank you, so clear answer. I know you’re a busy person, are you ready for the last question of this segment of the ama?😃
Martijn broersma:
Ready!
Andrés m. | satoshi club:
Q6 from telegram user @beterror203
How can cere facilitate the transfers of assets between chains and guarantee interoperability with other Polkadot / Etherum tokens in order to provide security above all business for the consumption of benefits of blockchain technology such as privacy, micropayments, identity among others?
Martijn broersma:
Cere being a future Parachain will cover this. Being a Parachain allows for this necessary interoperability, where other parachains like Darwinia can take care of the ETH bridges.
We’re super excited about these upcoming auctions. Looking out to the upcoming Kusama para chain auctions
Gold rocket | satoshi club:
Thanks a lot for your answers! Ready for the live part? In 2 minutes please select the top 10 questions and answer them😊
Martijn broersma:
Lets goo 🚀
Andrés m. | satoshi club:
Thank you Martijn, I have to recognize that you have an amazing project with great fundamentals.
Let’s go🥳
PART 2.Questions about the Cere Network project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Cere Network crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q – 1 from a telegram user @Edooooooooi
Describe your main features that differentiate your project from other projects and what competitive advantages do you have for the current project?
Martijn Broersma:
Similar to Snowflake, Cere has tools to extract and virtualize these data with near real-time event-sourcing (transforming and extracting) into customized datasets for ML, or analytics, or partner integrations.
The key differentiators with Cere are
1) asymmetrical data encryption allows any computing process such as an AI agent or partner integration script to be dynamically provided with signatures to access certain customer datasets, this means data can be securely shared into decentralized used cases such as the Cere Open Data Marketplace (similar to Snowflake’s data marketplace, but not locked to just 1 vendor);
2) The entire system is designed from the ground up to focus specifically on individual user data encryption, privacy-compliance, and hyper-personalization, which is what traditional data lakes, data warehouses, and CRM’s are not designed to do.
Q – 2 from a telegram user @moe_808
I read on your website that you are currently running a testnet, can you tell us how to join the testnet?
Martijn Broersma:
We’re currently running the testnet with a small group of testers. If you want to be included in the next round, send an email to team@cere.network!
Q – 3 from a telegram user @nadee5
Hello sir, Can cere network be considered as a global project?
Martijn Broersma:
We have offices in SF, NYC, AMS, BLN, MSK. So yes, we’re pretty global 🙂
Q – 4 from a telegram user @cryptofollower
I think you made a mistake in creating a partnership with Republic as for KYC partnership for whitelisting. They want passports from people outside of the Canada and US. So I couldn’t apply for whitelisting with my ID. Can you create another way for KYC?
Martijn Broersma:
We’re doing a sale with DAOmaker and (SCOOP!) a third platform that will be annoucned soon. Afaik these two won’t demand a passport.
Q – 5 from a telegram user @alptrader
Polkadot is still in the development phase and not ready for big applications like this. Do you think building your project with Polkadot is the correct choice?
Martijn Broersma:
Substrate currently facilitates all our needs. Interoperability won’t be requested by companies by 2025. Yet we’ll offer it in 2022 via Polkadot 😉
Q – 6 from a telegram user @smelekin
I see a jobs page on the website. Do you hire people for the Cere project?
Martijn Broersma:
We’re always open to talent! Check out the jobs page, or send in an open application to team@cere.network
Q – 7 from a telegram user @lastcalll
Cere offers an in-drop solution that drives a brand’s hyper customization strategy. What benefits does this have for a brand at the retail level? Can small retailers benefit from this?
Martijn Broersma:
Good question, but already answered above! Look it up 😉
Q – 8 from a telegram user @highpee
🙋♂️Hello. One of the problems of the Decentralized Data and Finance platform is that they run an Open Data Marketplace which unleashed vendors and customers data without due-diligence regards to PRIVACY or COMPLIANCE with applicable Data Regulation law. How will Cere capture and encrypt an individual’s data transactions or interactions and how is your system developed to be compliant with relevant GDPR or CCPA laws?
Martijn Broersma:
Yes, we have a lot of ambitious ideas around NFTs for our platform, haven’t seen anyone do it like the way we will be approaching the space yet.
Q – 9 from a telegram user @MCBTrade
Are you planning to develop API for external projects that will be attached to your platform or can the custom application be hosted in CRM?
Martijn Broersma:
Expect the same set of integrations as you see with SalesForce and Snowflake with Cere!
Q -10 from a telegram user @biggdata
It follows the current trend in first-party data management initiated by companies like Cere’s Snowflake. So, can you tell if Cere can guarantee to be more ethical, more efficient, and more interoperable than its counterparts?
Martijn Broersma:
We can! Have a look at the Vision paper that goes in-depth on how we achieve this ethical data on our website: www.cere.network
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the Cere Network project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
PART 1. Introduction of RAGE.FAN project and community questions.
Hello, Satoshi clubbers and guests of this site.
Today’s online sports industry trades on false promises of getting rich quickly. Rage.Fan aims to address the lack of transparency and ensures that participants get the maximum benefit.
Vivek Kumar – Marketing Head at Rage.Fan – @RageFanSocial
Introduction of RAGE.FAN project.
Gold rocket | satoshi club:
Hello, dear community!
Sat@rage.fan fantasy sports:
Hello there
Gold rocket | satoshi club:
We are pleased to announce our next ama with rage fan😊
Andrés m. | satoshi club:
How is going your day my friend?
Hello @satheeshananth @imavericks and welcome to Satoshi club
Vivek kumar:
Hello everyone! It’s good to be here!
Andrés m. | satoshi club:
Is an honor for us 👍
Gold rocket | satoshi club:
Today our guests are @satheeshananth @imavericks 😊
Welcome to satoshi club
Sat@rage.fan fantasy sports:
All well – crazy times but all good crazy 😊
Gold rocket | satoshi club:
We are very glad to see you and excited about the upcoming ama😊
Sat@rage.fan fantasy sports:
Great to be here as well. I am looking forward to an exciting conversation.
Andrés m. | satoshi club:
We as well, to know more about you and your project 😃
Gold rocket | satoshi club:
Well! Guys! Let’s start?
Introduce yourself. How did you get to be involved in crypto & rage fan?
Tell us please about yourself and your position as a rage fan.
Sat@rage.fan fantasy sports:
I am satheesh, the CEO of rage.fan – have been in tech for the last 26 years and in blockchain for 4 and crypto for 2. Been in enterprise firms supporting and delivering large global projects and products, have managed large state it systems, and driven 100+ million dollar business. Rage.fan is a passion-driven initiative that we have started to bring the benefits of blockchain, crypto community, and the sports ecosystem to bring better value for all stakeholders
Vivek kumar:
My name is Vivek Kumar. I am an MBA graduate from iim Shillong and ieseg Paris. I have a total experience of 7 years across strategy & consulting, marketing, and program management. Currently, I am looking after the marketing side at rage.fan. In the past, have worked with large MNCs and consulting firms.
Gold rocket | satoshi club:
Wow! Amazing background! 👏👏 what is the essence of your project?
How long does it take to develop a project? What plans do you have for the future? And what can we expect from rage fan?
Sat@rage.fan fantasy sports:
Frankly, projects of this nature are evolving continuously and in tune with the expectations of the community. So I am not sure if we will ever say done – having said that, we do have a roadmap that we are executing towards and believe that it will allow us to deliver an interesting and exciting experiences for our users over the next year and more. The platform roadmap is available at www.rage.fan
Andrés m. | satoshi club:
We are excited to know more about your targets for this year and milestones.
Great experience 👏 guys.
Sat@rage.fan fantasy sports:
Bring decentralized community benefit-focused fantasy sports platform that can be completely and truly enabled to deliver maximum value for the fans
Gold rocket | satoshi club:
This is quite an interesting niche in the crypto industry👍
Thank you very much for the great intro! Would you like to add something or are you ready to jump into community questions? 😊
Vivek kumar:
Before we move ahead – something I need to clear and it’s important also. Rage.fan is just not a fantasy sports platform but thinks of it as an ecosystem where you have lots and lots of things and secondly $rage is just not a game token rather way beyond that.
Gold rocket | satoshi club:
Sounds good😉
Vivek kumar:
Yes.
Andrés m. | satoshi club:
Thanks for that clarification
Sat@rage.fan fantasy sports:
Sure – we are excited to hear their questions! I think @imavericks has something more to add.
Andrés m. | satoshi club:
Ok, let’s wait for him
Gold rocket | satoshi club:
@andresm77 shoot please🏑(when everyone is ready)😊
Preselected questions about the RAGE.FAN DeFi project.
Andrés m. | satoshi club:
Q1 from telegram user @juansb07
What are more reasons why rage fan decided to focus on sports and games like cricket, soccer, volleyball, kabaddi, basketball and hockey? Did they do it solely because there is an exponentially growing user base of over 2 million sports fans? Or are there other characteristics they relied on like simple entertaining or passion for sports?
Vivek kumar:
The core is always about the passion that you want to bring in whatever you have for something and you want to deliver something valuable for everyone. So, the fundamental is about passion towards sports.
Secondly, in anything that you do eventually, you chase 2 things – scalability and diversification. Scalability comes when you reach masses and to do that, either you need to have low-cost model or feature diversification. In this it’s a sort of you can say both as in later stage these will start coming into the picture.
Done.
Gold rocket | satoshi club:
This is very smart: diversification and scalability!
Andrés m. | satoshi club:
Sports tokens are so famous at the moment, there are different platforms with the same topic, what makes rage fan different from the direct competitors?
Gold rocket | satoshi club:
I understand. Now there is general tokenization of sports teams.
Andrés m. | satoshi club:
That means amazing news for sports lovers like me 😁
Gold rocket | satoshi club:
By the way, your tweeter is very popular. 25k + readers it says a lot! 😉
Andrés m. | satoshi club:
Wow, a big number of followers😁
Sat@rage.fan fantasy sports:
We have started off with a mission – we believe that sports have the potential to bring the whole value, opportunity, and understanding of the crypto ecosystem to the mainstream by providing value built on people’s passion. We have just released an app in alpha called scramble that is used to collect trade tokens (which will be equal to rage once we launch) which are inspired by pokemon go and are all about education of tokens and what they are about while you play
Gold rocket | satoshi club:
Is this a mobile app? Can you please share with our satoshi clubbers?
Sat@rage.fan fantasy sports:
It is a mobile app and we should be ready for a beta launch later next week! We will be thrilled to have the satoshi team have an exclusive day with it – if they promise to help us improve and give us feedback while they also join us in the community and become users of the project 🙂
Sat@rage.fan fantasy sports:
Similarly, we have announced the launch of the UNFTS and the first set should be coming out soon – these are focused not on exclusivity based on design and artwork but around availability and more importantly around utility and perks that they bring to the table. We are combining NFTS to make them almost like a loyalty card for purchase discounts
Andrés m. | satoshi club:
When you said that is how pokemon go, that means that the user should collect trade tokens walking around the streets?
Sat@rage.fan fantasy sports:
Yes, they will hunt tokens and who knows they might find some interesting NFTS that they could use for various perks on the platform.
Gold rocket | satoshi club:
You have a lot of non-standard solutions👍
Andrés m. | satoshi club:
Will it be able for all the countries?
Vivek kumar:
Rage.fan has placed no restrictions on where the tokens will be made available and who can use the scramble app. Having said that, rage.fan will always encourage playing on the app in a responsible manner and to ensure that all players follow all the rules of the location and neighborhoods and not involve in any activity that could be unlawful, harmful, risky, or invades someone’s privacy.
Andrés m. | satoshi club:
Great work, we will expect of the official laucnhment 🎉
Gold rocket | satoshi club:
Big thanks for your answers! Ready for the next question? 😉
Vivek kumar:
Sure!
Andrés m. | satoshi club:
Q2 from telegram user @garrinepotter
Tell us about scramble – augmented reality-based token drop app.we still have time to apply to participate in testing? What conditions must i meet to participate in testing? What bonuses will alpha testers receive?
Vivek kumar:
So think of scramble like a tutorial before we launch the contests on rage.fan.
We opened the application for 100 volunteers and it got filled up like an hour or so at max. So, it’s a select-only invite as of now.
Rewards come in the form of trade as Satheesh was saying above and will be converted back to rage later after TGE. Then you will also be rewarded for discovering bugs and lastly, you stand a chance to be selected as one of the long-term ambassadors also.
Andrés m. | satoshi club:
How to join your ambassadors program?
Vivek kumar:
Again, I will have to say that round 1 is closed and we are preparing a shortlist from them. If required will open round 2 in coming time.
Gold rocket | satoshi club:
This means @garrinepotter has a good chance to participate👍
Andrés m. | satoshi club:
I think, our whole community have it
Gold rocket | satoshi club:
Thank you very much for your answers! Ready for the next question or want to add something?
Vivek kumar:
I think we should jump to next. We are good to go.
Gold rocket | satoshi club:
We want you to feel comfortable. So, feel free 😊
Vivek kumar:
So nice! Thank you so much – really appreciate it!
Andrés m. | satoshi club:
So the clear answer, thank Vivek 😃
Andrés m. | satoshi club:
Q3 from telegram user @moe_808
I read on your website that the platform has a native token ($rage) that serves the dual purpose of “play system” and “community governance”, rage.fan is taking the utility of their token to the next level via ar token mining. So can you tell us how AR token mining works? And the difficulty levels available for ar mining?
Vivek kumar:
So, it’s like get out of your bed and other places of comfort. Go out and explore places and in the meantime get $rage and who knows NFTS also!
You can get $rage in 2 ways – on the map and in sporting events. Both mean exactly the same as it sounds.
In terms of difficulty, yes, it’s like 3 levels of difficulty in terms of time and value
Vivek kumar:
We have prepared an excellent article on the same. Encourage all to please give it a go:
I know you already have NFT prototypes. Can you share with us, please🙏
Vivek kumar:
Yes, give me a sec!
Gold rocket | satoshi club:
Wow! They are wonderful! ❤️
Vivek kumar:
Yes and not only this – these will be informative also. We are adding a little information layer to it also.
I have shared 2. These are prototypes. So you can expect what to expect when we will have a full-fledged in store
Gold rocket | satoshi club:
You have very good designers👍 I want them all😁
Vivek kumar:
One has to be good to work with me😜 But jokes apart – it’s about delivering something called a “WOW” factor and it’s important also because at the end of the day you are investing something (time, effort, emotions, etc.) and in turn, you would have some expectations also.
Andrés m. | satoshi club:
Ha-ha yes Is needed to catch all of them 😁
Vivek kumar:
One has to be good to work with me😜
Gold rocket | satoshi club:
No doubt😁
Gold rocket | satoshi club:
Also, we would like to know about your team. Who is on the project team?
Vivek kumar:
So, from the core team perspective:
— we all met Satheesh. He is the CEO
— I am marketing head
— then we amazing people taking lead positions as CTO, product head, and ops head.
It’s actually a very well-balanced team. I think the core team matters also a lot in terms of setting up vision and chasing that. It’s fine to have different methodologies but at the end of the day, vision should be aligned.
Gold rocket | satoshi club:
Absolutely right! 😊 ready to proceed to the next question?
Sat@rage.fan fantasy sports:
Today we have a total of 13 members on the team
Gold rocket | satoshi club:
Not so much for such an ambitious project👍
Andrés m. | satoshi club:
Amazing efforts of your team, are you looking for more members? Some vacancies?
Vivek kumar:
We talked about scaling earlier. So you never know!
Andrés m. | satoshi club:
Great, so are you ready for our next question?
Vivek kumar:
Yes absolutely!
Andrés m. | satoshi club:
Haha nice stickers 😁
Andrés m. | satoshi club:
Q4 from telegram user @gutike95
I understand that $ rage tokens could be used to reward winners of fantasy games, but will they also reward them with NFT tokens? Or those NFTwill be exclusively used for big events and competitions?
Andrés m. | satoshi club:
Partially covered, no? I think you can tell us different ways to win NFTS different from the app
Vivek kumar:
You have to bear us for some more time on this as we are very close to getting everything out in a very lucid and detailed manner.
Andrés m. | satoshi club:
Btw, could you tell us more about your partnerships? Have you contacted some sports teams to work with them?
Vivek kumar:
So, so far, we have Зolygon, bionomy, Зlaycent and Kylin. As we speak, we are in talks with a couple more and we are very excited about them. It will be out soon.
Andrés m. | satoshi club:
We will be expecting news about it, congratulations 👏
Gold rocket | satoshi club:
Yes, Satoshi clubbers are very curious. And they want a hints 😉😁
Vivek kumar:
No, the idea is that we want to make sure it does justification with expectations and anticipations
Gold rocket | satoshi club:
Familiar names. Many of them are our friends and partners 🤝
Vivek kumar:
Nice.
Andrés m. | satoshi club:
Vivek kumar:
Yes, we are hopeful too and working hard on it.
Andrés m. | satoshi club:
Are you ready to proceed with the next question?
Vivek kumar:
Yes sure
Andrés m. | satoshi club:
Q5 from telegram user @belkysgonzalez
I noticed that polygon (previously Matic) is a partner of rage fan. Would you tell us what was the motivation to partner with them? And will there be other partnerships coming in the future?
Vivek kumar:
Once our product is deployed, we expect that the rage.fan platform will process an enormous amount of data on a daily basis. In its current state, the Ethereum framework is non-scalable and non-sustainable. Transactions might end up getting stuck in queues if the Ethereum network is congested unless users are willing to pay exorbitant transaction fees. This would kill the user experience and most likely drive users away from our platform.
The partnership with polygon will help us scale transactions in a cost-efficient and reliable manner. Even when our platform experiences heavy traffic, we will be able to guarantee a seamless and uninterrupted user experience. With polygon continuously working to improve scaling on Ethereum, rage.fan will continue to provide the best-in-class fantasy sports experience to fans.
Gold rocket | satoshi club:
Care of users! Great motive and great partnership!
Andrés m. | satoshi club:
Talking about the deployment of your product, have it been audited, or is it in the process to do it?
Vivek kumar:
Yes, it’s in the process to be! In fact all the details we have outlined here for all to follow along:
It’s time to go with our last question of this part of the ama, something to add? 😁
Vivek kumar:
Not really – I think we got covered well
Andrés m. | satoshi club:
Q6 from telegram user @highpee
You have scheduled an IDO on zero and pools on 31st of march after you completed your private token offering which allowed you to raise $1.6 million some few days ago. Who are the private participants/ventures who joined the fundraising event? How are their token release designed and in what way do you hope to deploy the proceeds from this fundraising? Also, what are the procedures to join the public offering which will take off on zeedo and poolz?
You will not be caught off guard by a long question 😁
Friends! Thank you very much for your answers! And now comes the most exciting part of our ama. Open chat.
@satheeshananth
@imavericks
Sat@rage.fan fantasy sports:
Yeah
Gold rocket | satoshi club:
You need to pick the top 10 questions and answer them.😊
PART 2.Questions about the RAGE.FAN project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the RAGE.FAN crypto project chooses the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q – 1 from a telegram user @IsabellaIsla
Why does Rage.Fan only focus on sports or fantasy games? Since there are many attractive game modes like MOBA or some others that attract users. Why has Rage.Fan wanted to focus on these?
Vivek Kumar:
It’s about starting off. It starts with fantasy sports and then in later phases we will move to e-sports and RPG mobile games later
Q – 2 from a telegram user @feranno
Three important problems focused on in the crypto industry: Security, scalability, and data security are considered. Does RAGEFAN provide a complete solution to these problems?
Vivek Kumar:
No solution is perfect. We all try.
Q – 3 from a telegram user @NataliyaKil
Rage.Fan is launching uNFTs in the form of Action Cards. What is the purpose of these Action Cards, I can only buy them, can I receive them as a reward or as a gift from another user?
Vivek Kumar:
These are digital collectibles and comes with values – Tangible (Monetary, rarity and uniqueness) + Intangible (feeling of owning something which is rare and unique)
You can own them and also trade them over a marketplace.
Q – 4 from a telegram user @stevefix56
In the long term, what future plan can users get from Rage and should the community expect more partnership like with Polygon?
Vivek Kumar:
The answer roots back to scaling. Scaling in all sense – audience, features, games, partnerships etc. telegram user @K2ice
On the security aspect, do you think that the DxSALE platform is prone to cloning?
Vivek Kumar:
Currently, there are a project that is taking ideas ofc but in terms of actual cloning- none as everything is private until the audit is done.
Q – 6 from a telegram user @Korryl
can you explain what must I do if I want to do investment with Rage Fan project? any step by step or guide about this?
Vivek Kumar:
IDO is coming. Follow our media handles.
Q – 7 from a telegram user @Long10X
Staking option is available on Rage platform?
Vivek Kumar:
1.0 is a staking and unstacking platform with fees that are distributed to others along with burning.
Q – 8 from a telegram user @Guandog
As we know, NFTs are here to stay disrupting the entire crypto market, can you break down your opinion and vision about NFTs within the platform?
Vivek Kumar:
Yes, we have a lot of ambitious ideas around NFTs for our platform, haven’t seen anyone do it like the way we will be approaching the space yet.
Q – 9 from a telegram user @blockchainstake
Do you have liquidity mining program that we can earn there and what are the APY’s we can earn?
Vivek Kumar:
in the works with some partners for DxFarming might not be until a couple of quarters. right now there’s a lot we want to do.
Q -10 from a telegram user @dumpspump
You know there are many different blockchains so how many blockchains do you support on your ecosystem?
Vivek Kumar:
We currently support 3 – AIM is to support 8-10 then do a big UI overhaul update.
Supported – ZIL, POLY, ETH, BSC
Part 3 – Quiz about project
In the final part, we tested the knowledge in terms of the RAGE.FAN project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Collateral Defi. The AMA took place on March 27th, 2021 and our guest was @COLLDEFI.
The total reward pool was $1000 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 very glad to conducting AMA with Collateral Defi! Today our guest is @COLLDEFI
Andrés M. | Satoshi Club: Welcome @COLLDEFI, it’s an honor for us to have you here
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @COLLDEFI 😀!
Collateral Defi: Hi guys
Gold Rocket | Satoshi Club: Let’s start! Introduce youreself please. How did you get to be involved in crypto & Collateral Defi?😊
Collateral Defi: Thanks so much for having me. I am Chris Longden CEO & Founder of Collateral. I first got involved in the Crypto space back in 2017. It probably doesnt seem that long ago – however it feel like a lifetime in Crypto! So I would not consider myself an “OG” however I have seen the rises and falls along the journey.
Gold Rocket | Satoshi Club: quite right. after entering crypto in a bear market, it is nice to go to a bullish😁
Collateral Defi: I was introduced to Crypto by a long standing friend from University. I am for a traditional CEFI finance background, in banking and payment services processing. He mentioned blockchain to me and ethereum in February 2017 – when eth was around $17.00! It quickly jumped up and then I looked in greater depth and detail and started my journey into crypto. Also applogies for any typos – at least you know its live!! 🙂
Gold Rocket | Satoshi Club: You are in the right place at the right time😁👍🚀
Andrés M. | Satoshi Club: Great background, congratulations
Collateral Defi: I think like anyone – it would have been good to been earlier – however all of us are early in the space in terms of mass adoption. I heard a fact the other day….. which made me smile.
Gold Rocket | Satoshi Club: Thanks a lot for the intro! Ready to jump into community questions?😊 Share with us🙏
Andrés M. | Satoshi Club: Please share it with us before the first question😁
Collateral Defi: It was if you are in crypto now its the equivalent of been in the internet space in 1997!! So you all need to take credit for that – you are way ahead of the curve
Serg | Satoshi Club: Nice to have you here 🙂 I know a guy who bought 10,000 ETH at 7$ and sold at 14$ 😁 so, none of us are perfect
Collateral Defi: Exactly – I am sure we can all share some of those stories. I bought in Nexo in the ICO and sold mine at $0.27
Collateral Defi: Anyway great to me here- a huge community it seems and privledged to be here
Serg | Satoshi Club: I bought my first BTC at 600$ and sold at 660 😁 let’s jump to the questions
Collateral Defi: Yep in Crypto everyday is a school day!! Always learning which is why its so interesting and exciting
Q1
from Telegram user @bitcoinistic
Collateral aims to be a payment gateway that lets users collateralize crypto to facilitate payment for goods and services. Does this mean for example: I have Bitcoin worth of 1500$. I want to buy the latest iphone or samsung. I put my BTC on your platform and then I can buy the smartphone? What is the further process? How do I refund the loan?
Collateral Defi: Ok
Gold Rocket | Satoshi Club: An evening of memories❤️You guys were touching my heart 😁
Collateral Defi: Thanks for the question @bitcoinistic. Yes ok – this is a great example to work with. If you have $1500 in your Collateral Wallet and wish to purchase the latest IPhone or Samsung. You will have to use a merchant or payment gateway that works and accepts Collateral. If you are in said store either online or instore. You will purchase the item and go to the checkout as normal. You will then be presented with a QR code. The QR code will present the purchase price of the item. Let’s say in this example, $500 for a phone. The amount of collateral that will need to be wrapped and place in the smart contract will be $1000, as we use over collaterised smart contracts, to protect both the borrower and the purchaser. The user will click accept through the Collateral App and be able to leave the store with their new item. Collateral will arrange for the retailer to be paid in their native currency. In terms of repaying the loan this can be done at any time. The user will enter the APP and repay the total amount plus any interest costs that occur. I hope that answers your question & again thanks for asking
Gold Rocket | Satoshi Club: Sounds good
Collateral Defi: Its quite straightfoward in terms of process.
Andrés M. | Satoshi Club: Thanks for the clear answer, personally I think is a great opportunity
Collateral Defi: Thanks so much. I think thats why we have had so much traction. It got featured yesterday on CNBC- Crypto Banter with Charles Hodgkinson – Cardano -which was unreal.
Gold Rocket | Satoshi Club: it’s incredible!👍
Collateral Defi: We are just setting out so to have people like him, Ran Neuner, etc… talking about Collateral its mind blowing and I am so pround – Hope you guys will come and support us on the journey
Andrés M. | Satoshi Club: Of course we want😁🥳
Serg | Satoshi Club: we will 🙂
Gold Rocket | Satoshi Club: We are with you!🤝 We are also very excited! And we want to ask if you are ready for the next question? 😊
Collateral Defi: Yes fire away 🔥
Q2
from Telegram user @antonerem
The field that you’re
trying to enter needs change, but it’s kind of conservative. Can you tell us if
you already have the deals with Visa and Mastercard? Without them, you won’t be
able to become a big player.
Collateral Defi: I could not agree more this market does need to see change especially from people within the Crypto space. We ultimately want to positon ourselves with the likes of Mastercard & Visa, however this is a complimentary product to these services already in the marketplace. VISA & Mastercard are payment services providers in the traditional sense, you make a payment and the FIAT currency is taken from your account.They are both looking more and more into the crypto space along with the likes of Paypal, which I personally think is great for Crypto and mass adoption. However if you pay with these services you are saying goodbye to your Crypto- this is what Collateral offers as a difference and alternative. I personally think the market is so vast – we are offering a unique and alterntive Crypto focused product – then move to mass adoption. Hopefully that answer your question – thanks again for taking the time to ask 🙂
Gold Rocket | Satoshi Club: Yes you are right. Your idea is good! Ready for the next question?😊
Collateral Defi: Of course
Andrés M. | Satoshi Club: Those are the tools we need to increase the mass adoption
Collateral Defi: Yep exactly
Q3
from Telegram user @antoine_dje
You website is not
secured, and the website that you want to use for your new brand is not working
at all. Doesn’t this send a wrong message? I mean this are quite simple stuff,
why is it not handled?
Collateral Defi: Wow – ok – thought this might get bought up today : ) As per the telegram chat and annoucment channels- we have gone throough a complete new rebrand- I dont know if you guys have had chance to see the new rebrand and lightpaper?
I have put it here so you can read it – if you havent had chance too. We took advice from our advisors and we were told to rebrand ahead of the TGE. To do this in the time constraints ahead of the IDO on Duckstarter the team here have moved heaven and earth. In fact they are all in now working hard – so a big thankyou to my Collateral Team. The new website has been completed and rebranded this will be live prior to the TGE – first one on Duckstarter on 31st.
Andrés M. | Satoshi Club: Could you share links of your channels to join? 😃
Gold Rocket | Satoshi Club: Thanks for sharing! we will be happy to read
Collateral Defi: So its in hand and will be live and of course secure 🙂 COol. I can share them give me one min
Andrés M. | Satoshi Club: Congratulations for that amazing job 😁👏
Collateral Defi: Here is the annoucment channel – this is where any news is relesed first we also have a chat room so it would be great to see the Satoshi club team over thereI will share twitter now
Collateral Defi: We initially went with Collateral DeFi – however further to advice etc… we are rebranding as Collateral Pay- which was seen as more customer/ user friendly from the focus groups we orgnaised. organised
Q4
from Telegram user @jefer_bn
How will you make the
onboarding process for merchants? Currently payment processors as PayPal don’t
treat the merchants fair, and can block their money and close their accounts
without even announcing. What do you have to say about that?
Gold Rocket | Satoshi Club: Thanks for the clarification😊
Collateral Defi: Thanks @jefer_bn. No worries. I would have asked the same question BTW!
Ok question 4-
We have a two pronged attack / strategy – for onboarding merchants
. We want to make Collateral accessible and fair to all users of the protocol of course. We will link in with existing payment services providers this will make an impact on the larger scale merchants. However we have also thought about the smaller scale merchants and one man bands wanting to take Collateral / Crypto payments. This will be done via an APP to smaller merchants. They will be able to set up a Merchant account and offer Collateral as a service to their users, by creating an account and subject to passing KYC. They can then link their current account and have access to a new breed of customer. In terms of fairness. I cant not really comment on this as it’s a case by case basis – I am not sure why that will have happened with Paypal so not in a position to answer that about blocking payment. Hope that answers your question
Andrés M. | Satoshi Club: Will it work as a P2P market?
Collateral Defi: I am trying to be as detailed as possible for you guys but appreciate you have to wait for me to answer 🙂 Yes – it will a decentralised P2P marketplace
Andrés M. | Satoshi Club: The answer was so clear, thank you👏😁
Gold Rocket | Satoshi Club: Thanks for your answers! Speaking of safety. In your light paper, I saw the planned audit. Have you already decided who will do it?
Collateral
Defi: Yes we take security extremely seriously at
Collateral
Gold
Rocket | Satoshi Club: this is very important and commendable👏
Collateral
Defi: With this in mind we have taken a slightly different
approach to auditing – we have had two seperate independent firms carry out the
audit. The final one is been done by who we have been told is the best in the
business…… this has been through experienced investors who have been round
the block some time. The
company recommended to us by the likes of AU21, A195 Capital is called Zokyo.
They are carrying out the finall audit – so with three independent checks we
feel we have gone above and beyond – which of course is the right thing to do. Crypto can be a crazy place so got to be as safe as
possible! Thanks
for that
Gold
Rocket | Satoshi Club: Thank you for your answer and for your responsible
position on this issue.👍
Collateral
Defi: Cool
Gold
Rocket | Satoshi Club: Ready to proceed to the next question?☺️
Collateral
Defi: Please
Q5 from Telegram user
@mike_not_mike
On a first glance, I can do the same on Venus or
other platforms. But when I read the Lightpaper, I see that it is something
different and much more interesting. What bothers me is: If I buy in UK,
Germany, Russia, how will you convert it to local currencies from US dollar and
with what costs? If it’s noticeable, like 3-5%, I think it’s big.
Collateral
Defi: @GoldRocket27 – thanks for hosting
Gold
Rocket | Satoshi Club: With my pleasure❤️
Collateral
Defi: To be honest there are lots of platforms out in the
space, from Venus to Compound. Let me
just check something give me 30 seconds. I see that Venus Marketcap is $395,000,000! So nice
to be even mentioned in the same sentence! @mike_not_mike!! From launch out market cap is only $1,200,000 so
plenty of room to grow. Apologies
back to the question. Yes I see your point. We look after all the local currency conversions
through the protocol and in terms of the cost with us going down the Polkadot
network the fees will be minimal. Like with all operations this will reduce
with scale. Also it
should be noted with us operating the business via smart contracts and using
blockchain tech, we have not got the large overheads that these large
corporates have. That’s
the whole principle of what we are trying to achieve – a streamlined payment
gateway which is accessible and beneficial to all stakeholders- Hope that makes
sense
Gold
Rocket | Satoshi Club: You have a win-win position😉
Collateral
Defi: We think so. Sorry was last thing on that point. Question. Unlike banks in the traditional CEFI spce we dont operate large bonus
structures!
Gold
Rocket | Satoshi Club: thanks for answers! now will be the most beautiful
part of our AMA. live questions. you need to pick the top 5 questions and
answer them. Are you ready?🚀🚀🚀
Collateral
Defi: A proportion of the profits (after business
overheads) are redistributed back to Collateral token Hodlers. Its a reward
system similar to a tradition dividend.
Gold
Rocket | Satoshi Club: it’s very tempting👍
Collateral Defi: Let me just have a quick sip of coffee and stretch my fingers
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Dahyor4
Can we know more about your roadmap?
Collateral Defi: Hi @Dahyor4 the roadmap is in the lightpaper I have posted it in the chat above this will give you a good insight to the journey ahead for Collateral. We will of course update through the social channels of any new appointments etc… thanks for asking
Q2 from Telegram User @Andrey_Seleznov
Could you please clarify what is the incentive to use collateral over the traditional payment where fiat or crypto is deducted on purchase and brush up on the repayment fees? Thank you! And I am so stoked for the project!
Collateral Defi: The benefit of using Collateral is you never sell your crypto, so no capital gains tax and you can have all the future increases in the crypto. Imagine selling 1 BTC in June for $10k to buy a car, 1 BTC is now worth $55k, so effectively the car would of cost you $55k. If you sell you never see the upside in crypto gains.
Q3 from Telegram User @topind7
In what way do you stand out among your competitors and what is interesting and unique about Venus?
Collateral Defi: Thanks we spoke about Venus in the question earlier- so probably good to answer this. The MAIN difference is the Collateral Pay product in the portfolio. Venus will allow you to leverage your crypto which is great – however how are you spending it? Collateral acts as a payment for the user at the Point of Sale (POS). WIth Venus for you to spend – you still have to send to your bank through the network which takes time ans costs fees.
Q4 from Telegram User @smelekin
There was a person who bought a pizza with 10.000 btc. If Collateral was live at that time, could that person still own his bitcoins?
Collateral Defi: If Lazlo the infamous BTC pizza man, has used Collateral to buy his Pizza he would still own all his BTC and have $550,000,000, instead he got 2 pizzas 😔
Q5 from Telegram User @K2ice
You claimed you don’t t operate large bonus structures. So what kind of bonus structures do you operate?
Collateral Defi: Hi Hakeem – we have two tokens within Collateral. COLL which is the native token and COLLG which is the Governance token. The bonus structures and how funds are distributed will be decided by the governance token holders- in a truly decentralised ecosystem. It will be put to votes
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Collateral Defi. They’ve prepared 4 questions for this part. The total reward pool for quiz was 800$ .
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Unicly Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Unicly
For more details:
Unicly – @unicly_community
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
😁
