SuperBid x Satoshi CLUB AMA Session 14 march 2021

PART 1. Introduction of SuperBid project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project full of beauty, celebrities, and money.

SuperBid.io is an innovative social-auction app that connects influencers with their fans. With SuperBid, users have the opportunity to participate in thousands of auctions set up by influencers. We plan to integrate the SUPERBID token in our app!

Through our platform influencers, celebrities, and content creators will be able to easily auction off virtual and physical goods, for example:
– “Bid For An Hour Of Playing Fortnite With Your Favorite Twitch Streamer”
– “Bid For A Video Editing Course On YouTube With Your Favorite Streamer”
– “Bid For The Streamer To Review Your Profile”

The plan of AMA session:

  1. Part – Introduction and preselected questions.
  2. Part – Live questions
  3. The Quiz about SuperBid

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and Gold Rocket | Satoshi Club – @GoldRocket27

The Representative of the project:

Max-@maxxxcap

Sun Tzu-@Alkaph

Jacob Rylko- @JacobRylko

Wojtek- @wojsec

Natalia Janoszek

Introduction of SuperBid project.

Mary | satoshi club:

Hello, satoshi club! We are happy to announce our ama session with superbid.io!   Welcome to satoshi club😀

Gold rocket | satoshi club:

Hello, dear satoshi clubbers!

We conclude our today’s exciting ama marathon series with  superbid.io.

Today our guests are @kin_now, @Wojtek, and @jacobrylko!

Kin now:

Hi everyone!

Mary | satoshi club:

Hello, kin! Welcome here 👍

Jacob rylko:

Hello everyone!

Kin now:

Could you add @maxxxcap an admin?

Mary | satoshi club:

Sure!

Kin now:

The whole Superbid team is here 🙂

Max:

Here! Hello everyone. Thanks @madamlobster

Mary | satoshi club:

That’s nice 🚀 we can go now🔥

Max:

Let’s do it!

Gold rocket | satoshi club:

Welcome to satoshi club, @kin_now, @Wojtek, @maxxxcap and @jacobrylko😊

Max:

Thanks, we also have our CEO here, Patrick.

Mary | satoshi club:

Guys, could you please introduce yourself and tell us more about superbid.io

Max:

Of course. My name is max, operations lead for the Superbid team. I am here with Patrick, our CEO, Waytek, our CTO, Kinga, our CMO, and Jacob, our marketing manager.

Our project was founded by Wojtek and Patrick. Wojciech, our CTO, built the first social network in Poland backed by intel capital, available before Facebook (over 2 million users). He also built modasphere.com (the solution used by H&M and over 100 talent agencies, acquired in 2015). He is now the CTO at venture devs (over 150 developers) and a member of the Forbes special technology counsel. Patrick, our CEO, is president of escape velocity (a space technology company also based in Poland), and is on the executive board of venture devs. The two entrepreneurs decided to start a social media / influencer-based crypto project – Superbid.

Essentially, Superbid is an application that allows influencers across the globe to connect with their fans and run auctions as well as raffles

  The goods/services which an influencer can auction off are pretty much limitless. If Justin Bieber ends up becoming an influencer on the app, he can auction or raffle off his favorite hat. If Snoop Dogg uses the app, he can auction off his bong. If Kim Kardashian uses the app, she can auction off her jewelry! Or, if you were Natalia janoszek (our first influencer and promoter), you can auction off your dress!!! This is actually happening upon app launch, by the way. And we’ll have many more 🙂 these are just a few examples. You might be thinking, well what about me? I’m not a celebrity and people aren’t going to buy my bong for $100,000. Our platform will be open to new influencers joining after launch – it will create a new revenue stream for influencers who have maybe a small following on YouTube or Instagram. Influencers will be able to think of creative ways to attract their audience and will be searchable on the app.

Max:

Initially, the app will contain several predetermined influencers, but we would absolutely be expanding as we collect data on our user experience. We want this app to be accessible to all. We will be translating to different languages, starting with English. There should be no nationality barriers once we have multiple languages available on the app.

Our CEO, Patrick, is also a member of Eban – Eban is Europe’s leading early-stage investor network. Just wanted to throw that out there 🙂

Mary | satoshi club:

And of course, thank you for the intro! You gathered a lot of great people in the project 🔥

Gold rocket | satoshi club:

Excellent background friendly team and a good idea that’s what business needs! 🚀🚀🚀

Mary | satoshi club:

Why blockchain, Max? 😉

Max:

Why blockchain. Excellent question. We have tons of good ideas about how we want to fully utilize the capabilities of blockchain to boost efficiency on our app. To start, the $Superbid token will be used to power the financial ecosystem of the fully blockchain integrated version of our app. What does this mean? Our initial concept and idea is this (it could change as we progress) – transactions on the final version of the app will be conducted with Superbid “points” which can be purchased on the app. Our idea is to peg the value of “points” to a percentage of the Superbid token itself. Points will be used for bidding on auctions and raffles within the app. The reason why we want to utilize points is to attract the mainstream – instead of requiring extensive knowledge of how to acquire cryptocurrencies in general, we want a user to be able to purchase “point” packages with their credit cards. For example, i can sign up for a $10 package which will get me 100 “points”, or a 50$ package which might get me 600 “points”. Our idea is points will be associated with the token supply itself. Our app will be the perfect application of blockchain considering the number of users that we want to attract and the amount of transactions that will be conducted in micropayments out to auctioneers/influencers when a bid is placed or raffle made.

 So, in summary, here’s the deal: in the initial version of the app, the users and influencers will absolutely not have to know anything about blockchain. It will simply be users connecting credit cards in a very simple way. Eventually, once we have data on the product and user experience after a few months of it running, we will integrate with blockchain

Any further integration we will have to figure out and pick the right blockchain for it

In order to combat high fees and slow transaction times, as we mentioned in the initial planning document, we will consider leveraging more efficient blockchains as well as layer 2 ethereum solutions like matic

Mary | satoshi club:

Got it, it makes sense 😀

Max:

Oh, and the first functionality which will be accesible on the app is going to be NFT auctions and raffles. We are working with artists and collectors now and have already accumulated over $250k worth of artwork which we will convert to digital art and auction off on the platform.

Jacob rylko:

Surprise! 👀

Gold rocket | satoshi club:

Awesome 😊😁

Welcome to satoshi club👋

Mary | satoshi club:

Wow! This is super!

Max:

Yes. We are very excited. While our roadmap says may for alpha version product launch, we might be able to get this done much. Much. Sooner….👀

Gold rocket | satoshi club:

Thanks a lot for the clarification! Are you ready for community questions?

Max:

Obviously, NFT creation will be powered by blockchain. Yes, let’s go.

Mary | satoshi club:

@alkaph welcome to satoshi club 😀

Sun tzu:

Hello everyone!

We have these paintings in our safe..

Gold rocket | satoshi club:

So! Let’s go!!!🚀🚀🚀

Mary | satoshi club:

We have questions about NFTs from our users, btw😉

Preselected questions about the SuperBid DeFi project.

Gold rocket | satoshi club:

Q1 from telegram user @ainiesol

What is the most ambitious goal of the project? I would appreciate it if you could share with us any upcoming updates? What should the community look for?

Max:

Great question. We love this one because we are trying to be the most engaging and interactive crypto community in the world. Already we have set our sites very high. As you may know, we have Natalia janoszek (also known as nj) as our first celebrity who will be promoting the platform and spinning up auctions on the app. We have connections to snoop dogg’s management team and are reaching out to them for a potential collab. So maybe that bong… You might actually be able to see when we release the app 🙂

Here is some info on our current celeb, Natalia.

SuperBid
Mary | satoshi club:

She is awesome 🤩

Gold rocket | satoshi club:

We are looking forward to releasing the application.👍

Max:

We are thinking the main influencer “categories” will be catered towards gamers, music, and modeling/fashion. We are considering referral programs that will allow users to refer their friends and favorite influencers to join the app. In the near term, if anyone has any influencer that you’d like us to connect with and potentially develop a partnership with, do not hesitate to reach out to me directly!

Max:

It’s important to note that venture devs has created applications for very big time names and companies. Music.com and trubify just to name 2

Max:

We are going to be potentially forming partnerships here if it makes sense for both groups, at this point we would be able to attract many more artists and celebrities

Mary | satoshi club:

Btw, as i understand i already can download your app, right?

Max:

No, not yet. Check out our roadmap! It shows all the details there. @kin_now will post the link to our roadmap 🙂

Kin now:

https://drive.google.com/file/d/1e86cxifpj1ze3n3uuxa2dlopu_7bkwd5/view?usp=sharing

Max:

We will be on the app store within the coming months. Details tba. Also, we are trying to build a partnership with ghost gaming.

Gold rocket | satoshi club:

You have big plans for 2021

Sun tzu:

Rocket plans and space conquest of every planet…

Mary | satoshi club:

Btw, will you have some services like cameo provide?😉

Max:

There is a potential connection which we have and would be very beneficial for both Superbid and ghost gaming to collaborate. They have plenty of gamers that could use our app to make money and auction of experiences such as an hour of playing Fortnite, etc… You get the point

Yes, of course. This app will be so much more than a cameo. Much more functionality, and powered by a crypto oriented financial system

For those of you that don’t know, cameo, which teams with celebrities to create birthday greetings and other personalized videos for customers, is planning to raise around $100 million at a $1 billion valuation, Bloomberg reported. In 2019, the Chicago-based company was valued at $300 million with a funding round, according to pitchbook data

Our market cap is approx. $3m

We have so much room to grow.

Gold rocket | satoshi club:

This is really impressive guys.👏

Mary | satoshi club:

Gotcha 👍 yes, the cameo is a very cool thing, so you guys will rock with this🔥

Max:

By the way, Natalia is actually a member of our team. She is our promotional lead and will be reaching out to her connections to bring on more celebrities in the near term

Mary | satoshi club:

And this will help a lot for mass adoption!

Max:

So overall, we are setting our sights very high and reaching far, seeking connections in the music, modelling, gaming, sports, esports and fashion industries

Gold rocket | satoshi club:

And it’s amazing how versatile your team is!👍

Max:

Yes, 🙂 Thank you

Mary | satoshi club:

Thank you for your answers! Ready to proceed? 🎉

Max:

Yes, let’s go 🙂

Gold rocket | satoshi club:

Q2 from telegram user @antoni_azx

Researching on your website and the published docs came to the conclusion that there’s not much information about the Superbid token itself, can you share with us the actual value of this token and how can the users trade it? Why did you choose the ERC-20 protocol instead of another more profitable?

Wojtek:

The token will be integrated with our app in various ways.

(which we’re still solidifying btw)

One way will be for our raffle’s functionality – in order to buy a raffle ticket to participate in an influencer-led raffle – your credit card purchases will be converted to tokens.

This will be done in the background without user intervention, so from the user’s perspective, it will be a regular purchase with a credit card.  This way we can expect higher adoption due to the low barrier of entry.

Another way would be for users and/or influencers having to hold a given number of tokens (also purchased via cc), in order to be more visible on the platform or to have more functionality.

Mary | satoshi club:

Btw, if you will work with credit cards does this mean that some countries will be restricted from using your app?

Wojtek:

This way we’ll have this ‘hold’ mechanics which causes tokens to be taken off the market and kept inside the app by users who want the extra features.

@madamlobster we’ll have crypto payments too of course, using some global provider.

And we chose ERC-20 because it’s the most adopted platform right now – we plan to provide some liquidity on various other platforms such as BSC, Polkadot, Cardano, and layer 2 solutions on Ethereum.  But this will be liquidity moved over from Ethereum so current holders won’t be negatively affected.

Max:

Perfect answers @wojsec. Thanks

Wojtek:

@goldrocket27 that’s it for this question, thanks 🙂

Gold rocket | satoshi club:

Thanks! Tell us please about your tokenomics btw.

Mary | satoshi club:

Great answers!

Wojtek:

Here’s an overview:

https://docs.google.com/spreadsheets/d/1gdfjglfb-snkmpole5zb-1h7suc8hqiyqm6_xfsqbki/edit#gid=0

Kin now:

https://www.superbid.io/superbid-tokenomics/

Wojtek:

And here’s an update we sent to our community some time ago.

Gold rocket | satoshi club:

Many thanks! Do you want to add something or we can proceed to the next question😁🚀

Wojtek:

Let’s proceed please, thanks.

Gold rocket | satoshi club:

Q3 from telegram user @arisabela

86% of young people post social media content for money. That’s a huge truth, and many of them take it very seriously as a job, it’s also true that many of them are minor-aged, so is there any age restriction to make auctions and use Superbid financial features? Or is everyone welcome?

Max:

We will have to obey various regulations in different countries in order to be present in the app store.

So while we are removing the barrier of a user needing to understand crypto when we first launch, we still must comply with these regulations in order to function.

Gold rocket | satoshi club:

Yes, your position is clear to me!👍

Mary | satoshi club:

Of course! Also, will you have any KYC verification for some actions?

Max:

Most likely yes. In order to pay money out to the influencers, it’s mandatory for any app to have KYC.

90% of Instagram influencers are aged 18 and up, so we don’t see this as a major limitation in terms of market reach and capture.

Mary | satoshi club:

Sure! 😉 Thank you for your answers! Ready to go to the next question?

Max:

Also, for experiences that are won (things like a day in the life or a free flight to a dream destination), the user must undergo KYC verification. Yes 🙂

Gold rocket | satoshi club:

Q4 from telegram user @yellowchamp

One of the common solutions, in order to expand growth, awareness, and knowledge of Superbid, is launching a large-scale influencer and new user bonus promotion once the platform launches. I believe that Superbid platform is already live in the market, so can you tell us more about the promotional bonus for new users on your platform? Do you have a referral program for users that want to invite their family, friends, or colleagues to join in Superbid? And can you explain more about the large-scale influencer event that your platform launched? Who is considering participating in this event? Thank you

Max:

Great, great question. Yes, we do have promotional bosses for new users in the platform lined up. We also will incorporate a referral program as you mention in order to expand our market

With regard to the large-scale influencer event that we launched, Natalia will not only be bringing new starts onto the team but has also been posting Superbid oriented stories to her Instagram nearly every day

She will start by spreading awareness through her social channels. Her Instagram has over 300k followers alone

As we gain traction and build more partnerships, you will see new influencers from the gaming, modeling, and music industries join the team for long term collaborations

Our strategy with them will be similar so that by the time we launch the app, we will have spread awareness to millions of people and have a following in the hundreds of thousands (we hope 🙂 )

Mary | satoshi club:

That’s great! We will have the opportunity to invite all our friends, and also earn😉

Max:

Yes, for sure 🙂

Mary | satoshi club:

Which amount of users is your first goal? 😀 Did you set such goals for yourself?

Max:

Well, considering we already have 800 members on our telegram who have joined over the past 3 weeks… I can’t imagine what will happen once we actually launch the app. Our initial token launch was completely stealth. All of this growth completely organic.

And not to mention we are a team that has not been in the crypto mainstream until now

Mary | satoshi club:

Sure! But you’re gaining attention fast🔥

Max:

Yes, that is our goal

Wojtek:

Keep in mind that this project is based on influencers.

So, our user acquisition is leveraging network effects from influencers who already have huge followings.

Gold rocket | satoshi club:

Great strategy! Thanks for the answers! Ready to continue with questions?

Wojtek:

This way we don’t have to acquire users one by one – we wholesale them in via the influencer partnerships we establish.

Mary | satoshi club:

Sure, I understand 👏

Max:

Going back on the cameo example, cameo has 15k plus celebrities on their app. And they don’t offer nearly what we plan to…

Wojtek:

So marketing is a lot less expensive than with some companies that target users directly with marketing.

Max:

15k plus celebrities will attract how many users… I don’t know exactly. You decide 🙂But let me tell you, If Snoop Dogg’s bong is auctioned off through Superbid Its going to be a tough competition, but I’m winning.🙂

Gold rocket | satoshi club:

You are definitely an ambitious project !!!🚀🚀🚀

Wojtek:

@goldrocket27 next question, please 🙂

Mary | satoshi club:

Haha, if yes 😂 But I am sure you will find a way to his bong😉

Max:

Hahaha yes, absolutely. In order to survive in crypto, we must be this. We are a non-stop active team, with members based in EU and us. Covering all time zones

Gold rocket | satoshi club:

Now will be your favorite question, though partially answered. But you can add something 😁😍

Q5 from telegram user @mihaipisica

Recently you made an official announcement that your first celebrity who joins the Superbid team is Natalia janoszek! Can you be kind and tell us about Natalia’s involvement in the Superbid expansion and further steps related to your promotion? Is her role just for marketing or is she an investor also in your project?

Max:

Yes, great question. We love questions about Natalia because she’s a rockstar (literally). Natalia is indeed an investor. She will not only be assisting us with promotions in the short term but will be on the team as a long-term partner with an official role.

Some of the things she will do:

Build connections with other potential promoters, facilitate connections with these people and the team

Develop strategies to promote the project

Liaise with marketing to understand promotion goals

Take a part in the development of promotional and marketing policies

Social media posts (frequent, on Instagram, Twitter, etc.)

Wojtek:

She’s also literally on our telegram channel and posting news from the backstage of when she’s filming movies etc 🙂So she’s not just a promotor but an actual long-term team member for us.

Max:

Yes, she’s awesome. A huge supporter of us in general. She has a massive following in Asia as she was a star in a Bollywood movie.

Mary | satoshi club:

https://instagram.com/nataliajanoszek?igshid=tdwbbuy5tu9e

Max:

So, we expect to increase or reach there as well once we pick up speed

Max:

Yep, that’s her 🙂

Mary | satoshi club:

She has amazing insta, I like it😀

Wojtek:

She’s actually a MBA

Wojtek:

Not just a pretty face.

Max:

I completely agree

Wojtek:

So very excited about our collaboration and what she brings to the table.

Max:

She’s fluent in Chinese as well. Extremely intelligent.

Max:

China, Korea, Japan, and India are locations which she has a large following

Wojtek:

She won multiple beauty pageants in Asian countries also. So. Could talk about her for long 🙂

Mary | satoshi club:

Super guys! I see you know how to make influencers happy and useful for you😀 Because I see that she looks happy 😂

Max:

Actually, we might have a surprise for you all 🙂

Mary | satoshi club:

Yes? We love surprises👏👏👏

Max:

Coming in the next few minutes

Gold rocket | satoshi club:

No wonder they say that poles girls are the most beautiful girls in the world! 😍😍😍they are also smart and love blockchain. 🚀

Mary | satoshi club:

Wow!!!

Max:

Hell. Yeah!

Jacob rylko:

A day full of surprises 🦄

Mary | satoshi club:

We will be waiting for it and meanwhile, we can go to the next question 😀 ready?

Max:

We have another amazing woman on our team

Mary | satoshi club:

Wow!

Max:

@kin_now – running the show behind the scenes.

Mary | satoshi club:

So, surprise now?👏

Max:

She is everyone’s favorite 🙂

Please add Natalia as admin in the group 🙂

Mary | satoshi club:

Natalia, welcome here🎉🎉🎉

Natalia janoszek:

Hi all!

https://www.youtube.com/watch?v=oc2I6NZlEKU

Mary | satoshi club:

😍😍😍 thank you!

Gold rocket | satoshi club:

We love you too 😘

Max:

The big surprise! ❤️

Mary | satoshi club:

It’s a pleasure to have you here😍

Gold rocket | satoshi club:

Welcome to Satoshi club❤️

Max:

Check it out Satoshi club fam 💯

Max:

This is only the beginning !

https://youtu.be/Si1SIEtfsFU

Mary | satoshi club:

For sure, natalia! Superbid.io will😍

Jacob rylko:

Natalia, isn’t it james rodriguez, famous columbian footballer with over 40,000,000 followers on instagram…? 😉

Max:

We will see about it…. All the details not announced yet.

Mary | satoshi club:

For sure, i have no doubts 👍

Gold rocket | satoshi club:

Massive thanks for joining us❤️

Mary | satoshi club:

Guys, it was awesome surprise for satoshi club 👏🎉

Natalia janoszek:

https://youtu.be/gSahRTtKuOghttps://youtu.be/hV2n9Rn9AZE

Gold rocket | satoshi club:

We are very intrigued😁😉and impressed !!! 😉

Mary | satoshi club:

Wow! Mega challenge 😍🤩

Max:

Yes, we would love to share more details. Can we do that now?

Gold rocket | satoshi club:

Do it immediately !!!😁🚀

Mary | satoshi club:

Sure! Not can, but need to share😂🔥

Max:

Hahah let’s go!

So, our founders Wojtek and Patrick wanted to find a way to market in the most decentralized way that we could think of – bringing the power of spreading awareness to the people… We are doing an 11 eth total challenge to grow, and picking one winner 🙂

Max:

https://twitter.com/superbid_io/status/1369976595679698945?s=20

https://youtu.be/3KW0Hu18ay8

Mary | satoshi club:

It’s awe… Awesome 🔥🔥🔥🔥

Max:

And this!

Gold rocket | satoshi club:

Wow! 🤗 it’s priceless!!!❤️

Natalia janoszek:

You guys better think about what you like me to cook for the dinner with the winner😎

Gold rocket | satoshi club:

Satoshi clubbers! Do you hear that ??? It’s impossible to believe 😁👍don’t waste this opportunity !!!

Mary | satoshi club:

Oh, sure guys have started to look for recipes👍🔥 Thanks, guys! It’s an unbelievable surprise for our club💃💃💃

Max:

You are very welcome. Thanks, Natalia for jumping in ❤️

Mary | satoshi club:

Natalia, thank you for visiting us!

Gold rocket | satoshi club:

Guys! You shine like rock stars today !!!🎉🎉🎉

Jacob rylko:

Some say the Superbid is the project of this decade, we have to 😁

Mary | satoshi club:

And I also want to remind you that just one 6th and last question left for this part😉 Ready for it?

https://youtu.be/FiXjWVTt6dU

Max:

One last video ^

Max:

Okay, we’re ready!

Wojtek:

@madamlobster let’s go!

Mary | satoshi club:

See you🤩

Mary | satoshi club:

Thank you one more time!

Gold rocket | satoshi club:

We were happy to have you here today! You are incredible❤️

https://youtu.be/1ylua45xYK4

Natalia janoszek:

Here is a little preview of what we’re shooting right now and you’re the first one to see it. I’m back to work and wish U a great Sunday!❤️

Gold rocket | satoshi club:

Let’s go🚀Love you ❣️

Q6 from telegram user @lzamg

There are plans to integrate NFT auctions for 09.2021, based on the Superbid roadmap. Can you explain more about how is that going to work? Will the NFTs be made for influencers through the Superbid platform? Can creators and artists start auctions on Superbid to sell their NFTs?

Max:

Yes, NFTs will be able to be made by influencers through Superbid platform. Users will also be able to create their own NFTs for auctioning or raffling them off on the platform. Absolutely, creators and artists will be able to start their own auctions to sell these digital items

Mary | satoshi club:

Guys, will we have NFTs from Natalia?😀

Wojtek:

We also plan to speed up the development of this feature so we’ll try to get it out sooner than 09.2021.

Max:

1000000%

Wojtek:

Plus we plan to bundle NFTs with some physical items being auctioned off.

Max:

Yep

Wojtek:

Natalia will auction off her dress from Cannes for example, and there will be an NFT attached to the physical item auctioned off too (once we have NFTs integrated).

Wojtek:

So literally every physical item or experience may have an accompanying NFT.

Mary | satoshi club:

It’s really so attractive concept 👏

Max:

Definitely.

Mary | satoshi club:

Can’t imagine what it will be if more influencers will join😀

Wojtek:

I can – 🚀🚀🌕

Max:

We are also planning on signing deals with big crypto influencers, so we will be able to attract this market as well.

Mary | satoshi club:

Why moon? Maybe Mars?😉

Wojtek:

That’s the next step, one by one!!

Max:

We are bridging the gap between the crypto world and the real world (not that crypto isn’t real… You get my point 🙂

Mary | satoshi club:

Sure, I got it and that’s right 😀

Wojtek:

Every day we’re making another step, working around the clock, so we’ll get to alpha Centauri eventually too 🙂

Mary | satoshi club:

Guys, you brought so much energy and beauty to satoshi club 😀 and we want to share some of our energy with you also😀

We will have the live part now and you can feel a bit stormy for 120 seconds 😂

Wojtek:

Bring it on!! 🙂

Gold rocket | satoshi club:

Get ready for Niagara falls from questions !!!!

Wojtek:

We’re ready 🙂

Mary | satoshi club:

Let’s go 🚀

PART 2.Questions about the SuperBid 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 SuperBid 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 @Khur_eshi_Abr_aam

Can you tell us the reason why are you burning over 86% of $SUPERBID tokens with a total supply, 674 million? Why did you burn this many tokens? So only 14 % will be left after burning, do you have a plan to add additional tokens in the future?

max:

Yes, we realized quickly after launch that this would be the best option for our community. in fact, the main reason why we did this was due to community feedback. we are very open to this. burning 86% of the supply gave our community confidence in the team, that we were serious about it. the only reason we started with a high supply of tokens is that we did not know how much the project would grow and change as we progressed. there will most likely be future burns as well. we do not plan on adding additional tokens.

Q – 2 from a telegram user @Giniwhite

Is superbid a recommended platform for small influencers? Is there the possibility of growing in SuperBid as in other apps like TikTok or Instagram?

Kin Now:

Yes definitely, it all depends on the creativity of the influencer and what they offer as part of the auction. In our application, you will be able to browse through various auctions, so everyone will be able to promote here, regardless of their reach.

Q – 3 from a telegram user @Indomiekuy

Can you share with us how does your auction system work and what is the connection your auction with $SUPERBID token? how do I as a new user of your platform can participate in your bid, what are the criteria and requirements?

Wojtek:

As a new user of the platform you’ll be basically using a Credit Card for participating in auctions just like you would with ebay. Same thing with raffles which we also plan to support – you’ll just be buying a ‘raffle’ (lottery) ticket with a Credit Card. This way user adoption is seamless and they don’t need to know anything about crypto.

We will be converting raffle tickets to the SUPERBID token by buying it off the market most probably, and then for auctions, users will be able to buy tokens in-app in order to be more visible, have direct contact with influencers, or other benefits of holding tokens. The same thing with influencers – if they hold tokens they will have more visibility and their auctions will be promoted.

.Q – 4 from a telegram user @highpee

Hello 👋

You will be creating a platform for CELEBRITY and INFLUENCERS to auction goods and services and this is great as it will allow their fans to get this material at a lower price. But can an ordinary user (not a celeb) uses your platform to auction belongings also? Or are you only available for TOP CELEBRITIES?

Kin Now:

Any user will be able to create auctions. Only our communication and promotion is currently based on influencers and celebrities.

Q – 5 from a telegram user @imrealsatoshi

Do you support staking Superbid tokens?

Wojtek:

Not right now Satoshi, but we’re actually working on some kind of staking / farming solution so please stay tuned.

Q – 6 from a telegram user @Karoceh

Talking about social media content on apps, we certainly have to be careful at this point. especially relating to personal data. How will SuperBid take care of user privacy? are you concerned about this problem?

Jacob Rylko:

Definitely. We are perfectly aware of the problem with personal data being hacked/shared, as this is one of the biggest concerns of our times. What you can expect from us is that we will do our best using our resources to protect those data and value user’s privacy. This is top priority. No excuses.

Q – 7 from a telegram user @alaskasb

Apart from influencers, what benefits does SuperBid offer its users?

max:

great question. we are thinking about incorporating some cool features such as gamifying the app. For example, if you hold a certain amount of points and for a certain amount of time, you might be placed in a higher bracket which could give you bonus points or priority in making bids (as a user) / being seen by fans (as an influencer). We like to think of this kind of as a google ad network where the higher bracket which you are in, the higher likelihood you have of winning an auction or going viral within the app, if you are an influencer. We will counter this by allowing users to participate in raffles and perhaps have separate benefits for the “micro” influencers or people that simply want to try out the app just to see if they have potential in growing their following on social media. we are not going to limit the app to certain influencers only. mainly, users will be able to connect with their favorite stars and feel much closer to them than they would otherwise… if I’m a super fan of Justin Bieber, wouldn’t I want to participate in a raffle for his hat? these are the kinds of questions that a user will be asking herself when the app is launched.

Q – 8 from a telegram user @Boylut

You said SuperBid project is based on influencers, hope these won’t have any negative impact on the project in the long run as most influencers usually dump the portion of the token being allocated to them on the community?

Wojtek:

We plan to burn part of the tokens, so the selling pressure on the market will be less than what the buying pressure was. Plus as I mentioned in my answer above there will be a number of holding mechanics in the app which will result in tokens being stored in the app.

Q – 9 from a telegram user @cindy_crypto

Which influencers are your main target? Instagram, Twitter, or youtube influencers?

Wojtek:

We’re aiming at Modelling, Gaming and Music as the first targets. Most of those will be from Twitch, Instagram and Youtube (and from our potential partner trubify.com – which is an app that our company VentureDevs built and we’re talking to the founder about a partnership.

Q -10 from a telegram user @Korryl

I read from a user from your telegram that Superbid will give a big prize for competition with total of 10 ETH for the winner from your community. can you tell me about the detail how do i possible to join that competition? does everyone have the same chance of winning or it’s a random winner? is this some kind of airdrop?

Wojtek:

Yup, the winner will be whoever gets the most visibility on a post about superbid. You can read all about it here: https://www.superbid.io/superbid-founders-challenge-marketing-standards-20000-community-award/

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the SuperBid.io 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.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: SuperBid.io

Telegram group  |  Reddit |  Tweeter  |  Website  |  Instagram  | YouTube

SIL Finance x Satoshi Club AMA Recap from 18th March

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 SIL Finance and our guest was @lianana one of the co-founder of SIL Finance. The AMA took place on 18th 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  community

Gold Rocket | Satoshi Club: Good evening, dear community!

Let’s start our today’s series of AMA marathons with SIL Finance.

D. | Satoshi Club: good day Satoshi Club! 🙌 let’s welcoming our today’s guest – @lianana ! welcome to Satoshi Club!

how are you doing?

liana: Hey @Cool_as_Ice

Gold Rocket | Satoshi Club:Welcome to Satoshi Club, @lianana 😊

Thanks for joining😊

liana: cool, yes thank you very much, this is Vincent from Sil.Finance team

D. | Satoshi Club: good to have you here Vincent 👍

Gold Rocket | Satoshi Club: To begin with, please tell us a few words about yourselves and how did you get to be involved in crypto & SIL Finance?😊

liana: It’s been so nice to joine Satoshi Club for a event

Sure, I mostly represent the tech team

D. | Satoshi Club: thank you! 😊 we are very glad that you are here ☺️

liana: I’ve been a serial entrepreneur that mostly focuses on fundamental technology, ex BitMart co-founder and ex Ethereum dev.

D. | Satoshi Club: that’s a huge experience

Gold Rocket | Satoshi Club: Nice background

liana: I’m one of the collective founder of three

Please allow me to introduce our team

D. | Satoshi Club: yes. please! 😊

liana: Let’s begin with another two co-founders

We have the Big Orange, he is an early adopter in the crypto space since 2013, and is a well-known community leader in China, a.k.a KOL.

He has so many fans that I’ve to mute most of them, or my phone gonna blow, and he has good relationships with many awesome and well-known exchanges.

Mr.Da, he’s an operational pro guy, ex okex, helped various projects up to their tracks.

D. | Satoshi Club: haha popular guy 😁

liana: we three are the collective founder of SIl.Finance

D. | Satoshi Club: nice! so you know each other for a long time?

Gold Rocket | Satoshi Club: cool team! 😉

liana: yeah, we been through last bull market together

the Big Orange was in crypto since 2013

I was Ethereum dev since 2016

D. | Satoshi Club: old crypto buddies 😉

Gold Rocket | Satoshi Club: Yes, this is more than a crypto friendship 😁🚀 These are the crypto brothers 😉

liana: Also, we have Alex and Alvin with us, they are in charge of global marketing strategies and business developments

we each excel in our own realms, and now we made a team

D. | Satoshi Club: awesome! so what exactly are you building in SIL? could you represent your project? 😊

liana: Alex Joined crypto industry since 2017, worked as senior executive in some successful crypto projects, former okex senior global manager. Alvin has a background of TRON Foundation ecosystem building and product lead, Abra CeFi product lead, and Paxful product lead. Been advising projects like top 30 exchange, cloud mining as well. He resonated with SIL’s approch in DeFi and have been building sil.finance with the rest of the team.

Gold Rocket | Satoshi Club: Can you tell us all more about the project, the idea, how it started? And especially why is it needed?

liana: Sure

SIL is a decentralized passive investment platform based on smart contracts, focusing on providing

users with DeFi synthetic financial services. It is a strategic financial tool that helps individuals

arbitrage in the DeFi market. It is also a liquidity constructor and income aggregator, a derivative tool

that hedges your funds to meet a macro financialplan.

SIL provides dual token liquidity for many swaps, automated LP pairing, and automated compound interest. According to factors such as annualized rate of return, safety factor, financial management cycle, etc., it automatically selects and configures products that best meet the interests of users, allowing complex liquidity mining becomes extremely simple.

The mining revenue will be distributed to all users in proportion, there is no middleman, no commission. The platform is jointly built by cryptocurrency participants from all over the world, and the management of the platform is entrusted to all SIL holders.

Gold Rocket | Satoshi Club: Thanks for great intro!

D. | Satoshi Club: wow, what a complex product 👀 sounds cool 😄

liana: hold on, a long one

SIL features a three-tier architecture: SILMaster, MatchPair and StakeGatling. SILMaster is the entry management contract, processing transactions and the distribution of SIL Token. MatchPair is responsible for matching. The matching queue adopts a first-in-last-out model to ensure that users who recharge first are matched first. When the matching party withdraws funds, the queue adopts the last-in-first-out model. It also ensures that users with priority recharge are in a relatively safe queue position. StakeGatling is responsible for collateralizing the matched LP to the mining contract. And then according to the configuration strategy, it will automatically roll out the profit, CLAIM income and convert the income of CLAIM into LP through Swap/Mint, and re-mortgage to obtain income to ensure the maximum benefit.

From the beginning, SIL Finance has been focusing on transaction-based liquidity pools. But there is a well-known function or we call that defect in the pool based on token exchange (LP), which is, impermanence loss (IL). That usually surprises new players and is rejected by experienced players. It is difficult for an ordinary player to control the whole surface. In order to minimize volatility preferences, SIL introduced a smart contract-based matching engine that provides two additional solutions for current LP players, and both only require players to provide a single-side token.

As a pioneer project of the DeFi aggregator track, SIL built itself upon Ethereum, and strives to develop the ecology, to make DeFi simpler, to create more value for users, so that more people can access and participate in DEFI with inclusive financial realizations.

The whole project starts from where UniSwap gets hot and SushiSwap came in bound, we are all early adopters of UNI and SUSHI, and we played a lot in DeFi, but soon we find the issue that not everyone has both sides of the tokens of the pair, e.g., the Big Orange found that, the fans in his group, they usually have one side of the tokens, and they tried to find the opposite users in that group, so they could make a match, like I have ETH and John.Doe have USDT, we all don’t want to lose our positions, so why not let’s make a team and get into UNI or SUSHI together, and split the profit later.

Gold Rocket | Satoshi Club: You did a good job on the concept👍

liana: It’s around September 2020, where we find the idea that make a one-sided liquidity pool maybe a practical idea, soon we sit down and brain-stormed the prototype, and during our development, we recruited a few test users from our community, they give us a lot of feedbacks, mostly importantly, they give us the idea that if we can reduce the IL(Impermanent Loss), they will really like our product. Guys you can check our site, https://sil.finance , there are two modes there, one is just one-sided composition, another is IL reduction mode, this is the strength from the community, really impressive, besides that, we did a lot of code improvements and other security stuffs, this is how we get here today.

We intended to make Sil.Finance an easy entry-level product for the beginners in the crypto space, and let users make more profits than their own.

thank you @GoldRocket27

D. | Satoshi Club: thank you! for awesome intro and representation of SIL! our community have lots of questions about all aspects of your project 😉 so let’s open the first part of AMA and hear them?

Gold Rocket | Satoshi Club: It is very good that you are trying to bring mass adoption closer! The crypto world is penetrating more and more into the lives of ordinary people. They don’t want to study technology. They need to press a button and get the result 😁

liana:  yeah, let’s go ahead

D. | Satoshi Club: that’s true 😆

let’s go!

Q1 from Telegram user @NataliyaKil

I noticed the name of your project: “Sister in law”. Recently, projects with the names of vegetables, fruits and animals often come to AMA in Satoshi Club …. Seeing you, I wondered what the name of your project means, how did you come to this? After all, Sister in law is one of the family members, and I assume that your project is a kind of family business and family values   are important to you? Please share this information with us.

liana: Indeed

That’s correct, the SIL concept comes from the abbreviation of Sister in Law, which is a meme to YFI. It’s a meme, it’s like a family.

We see that YFI, YFII, etc, hey we tried to by family

Gold Rocket | Satoshi Club: What other relatives do you have in your family? 😁

liana:  We liked the idea of YFI, you can see that have the same token amount as YFI, lol

Wow, you hit the spot, there are sisters in the family, and they would be represented to you as NFT

the NFT would be launched real soon after our product launch

You gonna see all the sisters, lol

Gold Rocket | Satoshi Club: Satoshi Clubbers will be happy to meet all of them ❤️

liana: Yeah, sure, and the NFT token is actually playable

Talking about artists, we happened to have an artist on the team, and we’ve already planned this thing for a month, there will be Sisters Series Buff/Debuff cards incoming. Soon we will deliver a very interesting series of NFT tokens that were just issued by us, which will correspond to individual matching-pair tokens(ETH, SUSHI, etc), and having our Sisters(SIL comes from Sister in Law) series to represent the card faces.

D. | Satoshi Club: we have a question about your NFTs, but it’s the last one, so we can talk about NFTs a bit later 😉

liana:  cool

let me hold on for a minute, lol

D. | Satoshi Club: haha 😄

Gold Rocket | Satoshi Club: [ 👍 Sticker ]

liana: Yeah, let’s go with the next question

D. | Satoshi Club: thank you for the answer! now we know the origins of your project’s name 😇

Q2 from Telegram User @h1drX

When YearnFinance emerged it revolutionized the liquidity pools, through vaults, being a much more complex protocol, now, SIL Finance will revolutionize the simple vaults of YearnFinance, through dual vaults being a very new protocol and in beta phase. What exactly are the investment options available to investors who fund the dual vault? What are the advantages over YearnFinance simple vaults?

liana: We love YFI but we have very different mining models

The SIL is actually built on UniSwap and SushiSwap right now, and will compat other future pools in the future if we need to

The SIL bring single-sided mining pool to the mass, which is also very different from Bancor v2.1’s BNT and Andre Cronje’s SIL

Andre Cronje’s SushiSwap V2 Single Sided Exposure and Impermanent Loss mitigation actually

From the SIL team’s view, there is a big difference among them, which is that SIL is not a match taker in the mining pool. In BNT’s example, ETH/BNT is a synthetic pair, since it’s not every day’s requirement, people trade on ETH/BNT pair mostly when they want to mitigate the Impermanent Loss. and the BNT is minted drastically depends on how much ETH user put into, it’s a dynamic balance, maybe too dynamic. The circulation of BNT is very hard to manage and calculate.

Gold Rocket | Satoshi Club: Which model would you recommend to me as your sister-in-law 😁😁😁

liana: The SIL won’t be the match taker, means SIL is generated from regular trading pairs like ETH/USDT, which is a daily normal needs, we build our Impermanent Loss mitigation solution on top of the original AMM protocol, not on an elastic circulating model. We think then the SIL token will be more stable and manageable by all users including the development team.

I recommend you can try out our IL mitigation mode with single side of token, and own compound interests and SIL

SIL Vault Liquidity Mining profits include:

1. Commission on underlying swapping fees

2. Correspondent LP stacking gain (transitive, will sell automatically by SIL Finance for principal roll-up)

3. SIL tokens generated from single-side pairing During mining, 0.5 percent of (principal + profit) will be subtracted to purchase SIL, which will then re-enter the minting pool. SIL token itself is also a community governance voting tool. SIL is initiated by the community and for the community.

D. | Satoshi Club: so people will able to get your token through farming? what will be the model of distribution?

liana: That’s correct, the token will be minted out near-linear fashion in total 6 months

every pool has a weight of the total production of SIL

currently we only have 1x pools, later we would had multi-x pool like SIL/USDT, stay tuned

D. | Satoshi Club: nice! will your farming pools also have some creative names? like ‘stepbro’ pool etc?😁

liana: Very nice advice, yeah, we didn’t thought about it, actually we could implement it

Now we have pool names corresponding to the LP type and assets types

Now I think that’s quite boring already

D. | Satoshi Club: im glad to help 😇

Gold Rocket | Satoshi Club: Satoshi Club is always a brainstorm😁🚀

liana:  👌

D. | Satoshi Club: thank you for detailed answers! let’s proceed to the next question?

liana: sure

Q3 from Telegram user  @meml97

I read on your medium article about SIL Finance, that one of the features your ecosystem have, is something called “Matryoshka Mechanism”, which you said is based on the LP matching mechanism. Can you tell us more about this feature and why is it called that way? Because, as far as I know a Matryoshka is a russian doll that is hollow and can have other dolls inside with the same characteristic. So, on what will this Mechanism be similar to this russian doll?

Gold Rocket | Satoshi Club: Nice one 😉

liana: It means chain of embedding, which in SIL is translated to chain of profits

let’s revisit the profit list again

SIL Vault Liquidity Mining profits include:

1. Commission on underlying swapping fees

2. Correspondent LP stacking gain (transitive, will sell automatically by SIL Finance for principal roll-up)

3. SIL token gain

You see, users get chains of profits, way more than just providing liquidity on the Uni or Sushi directly

Gold Rocket | Satoshi Club: Please share your tokenomics with us by the way 😊

liana: Consider SIL as smooth alternative to underlying pools

The community will share 68% percentage of the total tokens from directly mining, that will be a lot

15% is allocated to Governance Treasury, which would help to cover emergency situations when something really unexpected happens

D. | Satoshi Club:

liana: The SIL dev team share 17% of total tokens, since SIL have various institutional partners and strategic partners,  some of our shares where used to working them on some incoming events

We just have plans that we would be on Dora Factory’s bonding curve

check it out when time is right

Gold Rocket | Satoshi Club: Thank you very much for the information!

liana: SIL tokens generated from single-side pairing During mining, 0.5 percent of (principal + profit) will be subtracted to purchase SIL, which will then re-enter the minting pool. SIL token itself is also a community governance voting tool. SIL is initiated by the community and for the community.

Gold Rocket | Satoshi Club: We are looking forward to news🚀

liana: Thank you

Gold Rocket | Satoshi Club: Ready to proceed to the next question?

liana: let’s proceed

D. | Satoshi Club: let’s do this! 🚀

Q4 from Telegram user @mctrho

SIL Finance is a very new project that is currently in beta phase, in fact, on the SIL Finance web platform there is a warning of this. Suppose I decide to make an investment today, is it possible that I could lose the invested funds? What do I risk when using SIL Finance in beta?

liana: In beta means our innovation hasn’t stop after launch, there still so many things to do

at the launch, we intended to only launch the Normal Mode mentioned above

In this mode, each side of assets will bear there own profit/loss and there will be no Impermanent Loss Mitigation

Users most fully aware how Impermanent Loss works before trying to put funds into the pool

Which means, if you put one side of asset into a pool, if the price fluctuate dramatically, and if you are token-count minded(token holders), you may experience token loss when you withdraw

But if you are fiat-value minded, that’s would be fine

D. | Satoshi Club: when do you planning to go out of beta version?

liana: when IL mitigation and NFT launched

Gold Rocket | Satoshi Club: You must admit that in our time, security is a very important issue. what measures have you already foreseen and are planning? and did you audit smart contracts? if so, are you ready to share with us 😉

liana: Yes, cybersecurity and crypto-security always happens in the crypto space, we did lots of smart contract security talks with auditing firms(slowMist and Certik), and simulate various possible security breaches and did various guarding gates and algorithms to prevent possible events like impersonation, flash-loan attacks, MITM attacks, and we do not allow random contract to call our contract directly.

D. | Satoshi Club: do you have any refund system for users, in case of hack or any other attack?

liana: The SlowMist audit was conducted at Jan this year

The Certik audit is currently in process

Also, Sil.Finance smart contract will allocate 15% of tokens as Governance Treasury, which would help to cover emergency situations when something really unexpected happens.

And we have some emergency handles that could help us to pause the contract immediately

D. | Satoshi Club: gotcha 👍

Gold Rocket | Satoshi Club: Thank you very much for taking care of your members. And also that you share this information with us!👍

liana: But the process will require our multi-sign wallet to initiate

Gold Rocket | Satoshi Club: Ready to the next question 😉

liana: The SlowMist audit id is: 0X002101050003 , feel free to check it out on their website

Gold Rocket | Satoshi Club:👍

liana: ready

Q5 from Telegram user @Brainchest

I read in a white paper that you plan to start using Pay Pal or Matrix Port in DeFi. Tell me what application scenarios you see? Agree, there are already too many farming pools that offer to farm in the same way, so innovative, slightly crazy ideas are needed. Buying crypto for farming in Silo finance using PayPal, or maybe you make an innovative pool of Ether\ Dollars in a PayPal account?

liana: That’s a analogy

to the Paypal or Matrix Port

That means we want be the entry to funds management in the DeFi space

we have crazy ideas, the NFT part

D. | Satoshi Club: so you don’t plan to work with PayPal?😄

liana: we have innovative ideas, the IL mitigation method

Yeah I think we could try

D. | Satoshi Club: imagine pool – ETH/PayPal 😁

liana: That would be something real innovative, maybe SEC wanna talk to us then

ETH/PAPL, wow

D. | Satoshi Club: yep, that would be for sure, an innovative idea 😁

Gold Rocket | Satoshi Club: I want to ask a question not a topic 😁 Like real SIL. We’ve already figured out that you care about your community. Tell us a bit about the airdrop and distribution system. I saw on your twitter it works.

liana: The payment system need something that doesn’t fluctuate too much

The airdrop, yes that’s incoming, and there will be SIL NFT airdrop too

Gold Rocket | Satoshi Club: how can we join?

liana: what distribution system you mentioned

it will be rolled out, but we can’t tell yet, we try to surprise users

not to share how it works at this time

Gold Rocket | Satoshi Club: Look forward to😊🚀

D. | Satoshi Club: awesome! and now we can talk about NFTs 😇

Gold Rocket | Satoshi Club: I have one more question sorry😁

liana: yeah right

carry on

liana: let me scroll it up

Gold Rocket | Satoshi Club:

Tell us about this exciting event, it will be very soon🚀🚀🚀

liana: yeah, right, the contract will be open for deposit in 51 mins later, wow, I’m excited

which means the mining will be open in 51 mins

Gold Rocket | Satoshi Club: We share your excitement! 😁🚀🚀🚀And we wish you good luck!

liana: thank you~

Gold Rocket | Satoshi Club: Ready for the next question or want to add something?😊

liana: Just be fully aware how IL works before consider entry, it’s really really important, and matters to you, that’s what I have to remind every user that want to try our your first axe

Just be fully aware how IL works before consider entry, it’s really really important, and matters to you, that’s what I have to remind every user that want to try our your first axe

Just be fully aware how IL works before consider entry, it’s really really important, and matters to you, that’s what I have to remind every user that want to try our your first axe

3 times, to make it important

Gold Rocket | Satoshi Club: Thanks ☺️👍

@Cool_as_Ice shoot please🚀🚀🚀

D. | Satoshi Club: now everyone should be aware of 😁

Q6 from Telegram user @yellowchamp

SIL.Finance (Sister in Law) is a crypto project that is introducing a smart contract-based pairing engine that will provide two additional revenue streams for liquidity providers.Thus, in your twitter account you posted that SIL Finance NFTs will be out soon. So can you give us a brief overview regarding the other venture of your platform which is the NFT? As far as I know many platforms nowadays are also taking NFT in their platform, so what is the unique idea or features that SIL Finance NFT will offer in the market? Do you plan to build your own NFT Marketplace for SIL Finance in the future? Thank you

liana: We have an artist on the team, and we’ve already planned this thing for a month, there will be Sisters Series Buff/Debuff cards incoming. Soon we will deliver a very interesting series of NFT tokens that were just issued by us, which will correspond to individual matching-pair tokens(ETH, SUSHI, etc), and having our Sisters(SIL comes from Sister in Law) series to represent the card faces.

We call them Buff / Debuff cards since if you hold them in your wallet and deposit into mining pools, it will effectively adjust the mining speed for yourself or someone else that you specified the address in the UI, if it’s a Debuff card.

If you have played the Mario Kart, you may remember planting bananas on the track in order to slow down other players if they happened to step on the bananas. The SIL NFT Debuff cards are quite like that, just be caution don’t use Debuff cards on yourself, lol.

D. | Satoshi Club: wow, this is nice, so your NFTs will be not just a collectibles 👍

liana: There will be pool cards, token wildcard cards, and maybe even the legendary Vitalik card which will apply to all ETH mining pools

collectible + accel/retard on SIL token production

you have NFTs, you are unique in the Sil.Finance App

Gold Rocket | Satoshi Club:Are there any ready-made NFTs? can you show us something today?🙏

liana: you mean you want our artist’s draft?

Gold Rocket | Satoshi Club: if possible🙈

liana: I guess I could share one, maybe

Gold Rocket | Satoshi Club: It would be very interesting😁

liana:

Gold Rocket | Satoshi Club: Wow! This is really unreal cool👍

liana: maybe too bizarre?

D. | Satoshi Club: cyberpunk-ish

Gold Rocket | Satoshi Club: I like it very much❤️

liana: Our artist have some strange love maybe, I don’t know..

glad you like it

Gold Rocket | Satoshi Club: Thank you very much for your answers! Ready for a storm of questions? It will be unforgettable! I promise! 😁

liana: glad you like it too

D. | Satoshi Club: @lianana we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi Сlub members! 😉

liana: Yeah, let me feel it

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Kushal85127939

Hello @lianana

Could you please give us an overview of your roadmap? Which events you think will give boost to SIL finance?

Liana: Starting at the beginning of S4 of 2020, the SIL project begins with a first line of code of single-sided mining-making, and at the mid of S4, testnet is alive. At end of S4, the Impermanent Loss mitigation mode is ready,  the first security audience is conducted by SlowMist, recruited seed users to test drive the product, also the community bootstrap, marketing bootstrap, and ready for launch. Since S1 of 2021, we find that the existing solution for mining-making is not very cost effective(gas fees), so we did way more emulations of transactions, including implementing more security practices, and improved the codes way more than we would have imagined.

On the road ahead, Integrated DeFi loan settlement, DeFi+CeFi arbitrage strategy, L2 Integration, CompDelegator that mixes user’s assets for the larger profits, so many aspects to be considered and implemented.

Q2 from Telegram user @AmirJosh

Can you explain how the partnership of Sil_Finance and the famous cryptocurrency wallet provider imToken brings innovation to DeFi 2.0 and the next era of digital lending? Are you collaborating on building new product or lending platform with imToken?

Liana: Yes we’ve been partnered with Imtoken already, they officially support our token and DeFi entrence, no lending yet

Q3 from Telegram user @RosemaryBianco

Did you really like the AMA at Satoshi club?

Liana: Yeah, I really like it, so vivid and so amazing

Q4  from Telegram user @Xusuo

On your medium there is notes SIL Finance A revolutionary #DeFi project that fills the gap of #YFI & #YFII. Could u please explain what are the gap ? and what are your team already contribute to DEFI world from SIL Finance project?

Liana:

The gaps

Q5 from Telegram user @My1queen

I read about SIL platform that allows revenue generated from mining to be distributed to user’s in proportion. what does this mean. Will certain categories users get different % of this revenue.

@lianana

Liana: That means how much token you put into the pool, how much you will share the minted SIL, the share of minted out SIL is based on your assets poportion

Q6 from Telegram user @JuanSB07

How does Sil Finance plan to expand and attract more people to your project? Do you have a marketing strategy?

Liana: The Sil.Finance product faces global users equally while supporting various languages, the community already have English, Chinese and Vietnamese versions, there will be more incoming. Eventually SIL wants to be the ultimate entrance for token mining for every users in the DeFi space regardless of experiences.

Q7 from Telegram user @Izamg

I read that SIL Finance not only gives flexibility when providing assets, but also is able to take the LP tokens earned and stake them in another protocol based on the user’s interest. Can you explain more about this feature? Are those other protocols selected by SIL Finance or the user? @lianana

Liana:  Yes, we may select more pools with great profits, but we have voting systems. it will be totally governed by written rules. Sil.finance ecosystem is made up of voting proposals from SIL token holders. If the proposal passes the requirement of quorum (1 % staking tokens at governance structure), and also wins the majority of support (50 % of the votes), and the total staking of winning party should exceed 4 % of the total supply, then it can be executed with a 6-person multi-signature wallet. Any revision must have approvals from at least 4 out of 6 wallet signatures. These signature holders will be voted by SIL holders initially and may be subject to change according to future governance voting.

Q8  from Telegram user @Shaa93

I think I will buy SIL! Where I can buy $SIL? And update about news of Sil Finance?

Liana: Since all the tokens are minted out, there will be very few sil tokens at early stage, please mine than buy

Q9 from Telegram user @ronaldo_super

What is the difference between the Governance Treasury of yours and SAFU from Binance?

Liana: Kind of like the SAFU, but it may cover more aspects then just covering the safety issues, like further project developments or large events or contract upgrades, but we need users to vote in order to use the money in the Governance Treasury

Q10 from Telegram user @costurera3000

🟪 If two users who want to participate in mining to earn interest, but who have different tokens, are united through the SIL LP Grouping to participate jointly, the users will each receive an equal part of interest, or the percentage of interest varies according to the token they provided?

Liana: Depends which side you are on, the share is among that side of the poll, not the total pool, which means if you have ETH and he have USDT, although you both have equally valued tokens, but the ETH side’s share is among the ETH side of the pool

Part 3 – Quiz Results

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

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

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

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

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

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

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

Website: https://esatoshi.club/

Our partners:

SIL Official Site:https://sil.finance/

SIL telegram:https://t.me/sil_finance/

SIL Twitter:https://twitter.com/Sil_Finance/

SIL Discord : https://discord.gg/jq7CpjkWUm/

SIL Forum:https://contact-55283.medium.com/the-sister-in-law-defi-project-c3c5367a0b2a/

AMA Satoshi Club x FuguSwap, March 19th

We are pleased to announce our next AMA on March 19th 2021 at 04:30 PM UTC Time: Satoshi Club x FuguSwap

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join FuguSwap Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 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. FuguSwap Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about FuguSwap

For more details:
FuguSwap – @fuguswap
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Satoshi Club x Cook Protocol, March 17th

Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Cook Protocol. The AMA took place on March 17th, 2021 and our guest was @kp_cook.

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

Маry Satoshi CLUB: Hello Satoshi Club! We are happy to announce our AMA session with Cook Protocol!    Welcome to Satoshi Club😀

Gold Rocket | Satoshi Club: Hello, dear Satoshi Clubbers!

K P: Hi  everyone! This is Kun from cook protocol! Happy to be here

Gold Rocket | Satoshi Club: Welcome to Satoshi Club @kp_cook!😊

K P: Thank you!

Маry Satoshi CLUB: Hello! Welcome here! What will we cook today?😀

Gold Rocket | Satoshi Club: Thanks for joining!  Therefore, we expect from you interesting facts about Cook Protocol.😉 To begin with, please tell us a few words about yourselves and how did you get to be involved in crypto & Cook Protocol?

K P: Sure. So I am the strategy lead of Cook Protocol. I have done 8 years of technical product management before joining cook protocol

Маry Satoshi CLUB: When did you start with Cook Protocol?😀

K P: I got involved in crypto in 2017 more like an investor. Then I started to dig deeper into crypto and totally fell in love with the industry. At the time I did not find any good solution to help manage my crypto asset

Маry Satoshi CLUB: Yes, it’s not always easy

Gold Rocket | Satoshi Club: then you are a real crypto fan😁

K P: I totally am 😃 To answer your question and continue my story. Then a group of friends and also crypto investors came together to brainstorm and to create an asset management tool to help retail investors like us to better manage their assets. It’s about 2020 when we decided to launch Cook Protocol. I joined Cook Protocol around May/June ish last year

Gold Rocket | Satoshi Club: What is your role in the project? And also tell us a little about the team. How many people? perform what functions?😊

Маry Satoshi CLUB: Sure, you choose right time 😀

K P: Sure. I am more on the business/marketing side. But you know it’s startup. So the founding team really has no clear definition of roles. We all need to do a little bit of everything, BD, marketing, technical, product management to name a few. Our core team is mainly located in Silicon Valley and has pretty good backgrounds. I graduate from Stanford University. The others graduate from UC Berkeley, Carnegie Mellon. Several engineers from Google, YouTube and Dropbox

Маry Satoshi CLUB: Really experienced team👍

K P: We have expanded pretty quickly in the last few months. We are bout 15 people now. No longer Silicon Valley only. Globally distributed in Europe, Asia, Middle East, America. About 8 countries

Gold Rocket | Satoshi Club: You have a great team of like-minded people !!👍 Thank you very much for sharing! Ready to jump on to community questions, or would you like to add something? 😊

K P: We have quite some engineers on the team and then also teams working on the BD and marketing on the English speaking community. Since our core team, although all based in the Bay Area now, is from China originally, we have marketing/Bd team in China as well

Gold Rocket | Satoshi Club: By the way, what markets besides Asian are you also targeting?

K P: So we are targeting China since we are native in Chinese and understand the Chinese culture. But then I actually lived way more time outside of China. Grew up in Argentina and then came to states for uni. So we are global citizens and target a lot of regions as well. The main focus is the English speaking community, mainly Europe/America and then the Chinese speaking community in China. Done with my answer

Gold Rocket | Satoshi Club: Thanks 😊

K P: Yes, I am ready. Finished with the introduction!. We are a global project

Gold Rocket | Satoshi Club: Thank you very much for the great intro.👏

Q1 from Telegram user @Pratze

Cook Protocol will getting closer to have an IDO on the cross-chain platform Poolz. and you already announce that you are opening the whitelisting for IDO. so how do we possible to become of one of your whitelist? what is the requirement ? beside IDO, is there any other way to get your token?

K P: Thank you for the question. So the whitelisting rule for Poolz is listed on the medium article. bear with me one sec. trying to find the link

Маry Satoshi CLUB: Take your time 🙂

K P: https://twitter.com/cook_finance/status/1371546909219852293

this tweet actually has the details

https://cook-protocol.medium.com/cook-protocol-opens-whitelisting-for-poolz-ido-participation-b09d27e059d0

here you go. the rules and requirements are explained here, copying from the medium article

1. Follow Poolz on Twitter

2. Follow Cook Protocol on Twitter

3. Retweet the pinned tweet with a quote and tag 2 friends on the Poolz & COOK protocol Twitter account

Make sure to include cashtags $POOLZ and $COOK.

Link to pinned tweet: add link

4. Join Cook Protocol’s Telegram group and Cook Protocol’s Announcement Channel

5. Fill the whitelist form here

6. COOk IDO staking page link

we will also do IDOs on other platforms  which are to be announced shortly

Маry Satoshi CLUB: How many people already filled thx form?😉

K P: quite a bit I bet. Actually I don’t have access to the data. Poolz people are managing the form. but from the reaction of our community, we can tell quite a bit

Маry Satoshi CLUB: Oh, got it! 👍 Sure, they will manage everything in the best way!

Gold Rocket | Satoshi Club: we will be glad if you can share with us whenever possible.

K P: other than IDOs. you can also get our tokens by doing some tasks or participate in programs that will be announced in our community. so join our telegram to stay tuned

https://t.me/cook_english

yeah, totally. will announce as soon as it is ready. Join Satoshi Clubbers🚀🚀

Маry Satoshi CLUB: Thank you for your answers! Ready to proceed?

K P: Yes. Let’s proceed!

Q2 from Telegram User  @Xusuo

Could you please tell us what problem that people usually get from investment that Cook Protocol aims to solve? and what is the potential risk that Cook Protocol have for now and how do you plan to solve that problem?

K P: Great question! So what we found out is, although DeFi is pretty hot, it’s very hard for retail investors to benefit from it because of several reasons. A lot of DeFi concepts are very technical and difficult to grasp if one does not have technical background

Маry Satoshi CLUB: That’s true 😂 Also, the gas fees are outrageously high on Ethereum, which make it very unfriendly to retail investors. In addition, we also feel that a lot of the current products do not have a very intuitive UI and user-centric UX

Gold Rocket | Satoshi Club: we understand you very well😁🙈

K P: Also, a huge portion of global audience does not speak English at all, so they cannot understand the latest and greatest in DeFi. Or use some of the products actually

Gold Rocket | Satoshi Club: I really liked the interface. It is quite intuitive and uncomplicated for the user!

K P: So how we intend to solve the problem is to build a cross-chain asset management platform that is user-friendly. There are three points I will elaborate

Gold Rocket | Satoshi Club: Are there any features that you are most proud of?

K P: Yes, we are right now almost at the end of development of an index product, which basically encompasses all the top 10 major cryptocurrencies. So people can buy the index fund, which is like buying the underlying tokens. But at the same time, we are working on yield-optimized index, which means that while you can the index, the tokens that you bought will be used to do yield farming or lending to maximize returns on your capital

Gold Rocket | Satoshi Club: Looking forward to hearing more🚀

K P: So the three points that I have are cross-chain, usability and high capital efficiency

Маry Satoshi CLUB: And they are really important in assets management!

K P: High capital efficiency, I sort of touched the point on the answer above: the fact that your capital will be used in multiple places to maximize your earnings. For cross-chain, we are actively developing on Ethereum and Huobi Eco chain

Маry Satoshi CLUB: Just two or it’s for the beginning?

K P: Just the beginning. Focus now. So we announced yesterday that we got investment from OKEx

so OKExchain is a place that we are targeting as well, we will become first mover in their DeFi ecosystem, while we are more like a early mover in Huobi Eco

So Ethereum, due to its high gas fees, a lot of the operations cannot be carried out. It’s like 5000 dollars to set up a fund, which is like crazy!!

So we intend to do only index fund at the beginning

On Ethereum to minimize gas fees

Маry Satoshi CLUB: It’s unbelievable 🤦

K P: And then on Huobi Eco chain, we will do index fund but also more advanced actively managed fund because of the significantly lower gas fees

Gold Rocket | Satoshi Club: I read that you are also concerned about the IP protection

K P: yes, we are concerned about IP protection for fund managers

Маry Satoshi CLUB: they just started to form their ecosystem 😉

K P: yes. so that’s why their investment strategies can be private while what they did in term of asset allocations are publicly available. and then we will also have some presence in BSC. Polkadot is an interesting place however, their parachain is just getting ready and the DeFi ecosystem is not very mature yet .the other three chains I mentioned, Huobi Eco, BSC and OKExchain, they are all EVM compatible

Маry Satoshi CLUB: Oh, BSC is hot now🔥

K P: it’s relatively easy for us to migrate. but Polkadot might need quite some extra work. so that’s why we are having it more in the back burner

plus we are like at the top stack of the DeFi lego

so the underlying protocols, like lending and DEX need to be ready, for us to come into play .we need to interact with them. so this is the cross-chain part. for the usability part. we will have a super user-friendly and intuitive UI/UX. we have UX advisors from top notch companies that have designed products used by a lot of consumers. they are really expert in user experience, top notch company like Amazon, at the backend we will do all the complexed technical heavy lifting work to connect with all these protocols, but on the frontend, it will be very straight-forward UI/UX for people who are not very technical to interact with

Gold Rocket | Satoshi Club: thank you very much for such a detailed answer! Ready to proceed?😊

K P: sure

but one last thing. I think the second part of the question is about risks .I will briefly touch the point. so that we can move forward. the biggest risk we se is the high gas fees on ethereum , which render a lot of the operations unusable

Q3 from Telegram User @yellowchamp

In your Roadmap, I see that you will release Columbus Version Integration Testing in 2nd quarter this year and you will also release Magellan Version release in Ethereum mainnet this coming 4th quarter of this year also. So, can you give a little spoiler about the difference between Columbus and Magellan Version that you are going to release this year? Why do you need two version and why do you choose to name this Spanish native as Cook Protocol version? By the way, can you clearly explain what version in your platform is Columbus and Magellan

K P: the name explanation first

so we are named Cook Protocol to reference Captain Cook

 in the geographic discovery era in the 1500s and 1600s, a lot of captains will set sails to India/Southeast Asia/China and if they bring back spice, chinaware, silk etc, they will become super rich

back then the voyage is super costly

Маry Satoshi CLUB: James Cook – Wikipedia

https://en.m.wikipedia.org/wiki/James_Cook

K P: so that’s why they invented the crowdfunding in 1500s. they got money from citizens and then go out on sails. If they come back. The original investors will make a huge fortune like 100X or 1000X returns. this kind of crowdfunding behavior starts to get more and more standardized. and then eventually evolved into Amsterdam Stock of Exchanges

Маry Satoshi CLUB: Great story!

K P: which is the starting point of the modern financial system. so that’s the reason why we have this name to demonstrate our vision that DeFi will go on the similar path and evolve into a big decentralized financial system

Маry Satoshi CLUB: It makes sense 🙂

Gold Rocket | Satoshi Club: I really like the philosophy of your project! 🚀

K P: back to the point of differences, so for Columbus, we are mainly focused on Ethereum and HECO. We will do some index products mainly. and for Magellan, we will start to open up functionality for fund managers to set up their funds. and then expand to other chains like OKExchain, BSC and potentially Polkadot depending on how mature their ecosystem becomes. that’s it, my answer to the 3rd question

Gold Rocket | Satoshi Club: Thanks a lot! We are all a bit of a pioneer in the crypto sea and everything dreams of being realized! Ready for the next question? 😊

K P: any other follow-up questions or should we proceed to the following question?

Q4 from Telegram user @Derazy

Can you elaborate more about ckToken? you mentioned a ckToken is an LP token that represents the ownership percentage of an investment fund. Does this mean we have to invest first to have ckToken? and if the ck token is traded, does this mean there will be a transfer of ownership?

K P: ckToken is a LP token, it’s like your ownership of the fund that you invest in. and sure, you need to invest first to get the LP token. so we foresee two scenarios. for funds that are very popular and have quite some liquidity. then there will be trading happening, maybe even Uniswap trading pair and then for funds that are not that popular. liquidity is not enough. then their LP token holders might only be able to claim the underlying assets from funds. buying and selling those LP tokens might not be very straightforward. if you trade ckToken, it means transfer of ownership for sure

yeah, that’s my answer

Маry Satoshi CLUB: As continuation to all previous questions i want to ask – which features of Cook Protocol can ordinary users use?

K P: so the first feature we will launch is index feature. ordinary users will be able to use it .on HECO and Ethereum. we will launch more features later. like the yield-optimized index and more actively managed funds, in later versions of our product release

Маry Satoshi CLUB: So, let’s say we will use Columbus, right?🙂

K P: yes

Gold Rocket | Satoshi Club: Share with us please your tokenomics btw

K P: sure

so we use price-based unlocking mechanism. when price hits certain point, certain percentage of the tokens get unlocked

Gold Rocket | Satoshi Club: yes .. that sounds good! 😊 Are you planning a staking program?

K P:  yes, we will launch liquidity mining program and some other incentive program once we are listed on Uniswap

here is a file that explains our tokenomics in more details

for the sake of time, I would not go into too much details

Маry Satoshi CLUB: Thanks, we will definitely dive deeper in it after AMA!

Gold Rocket | Satoshi Club: Oh … This file has an answer to my question 😁 thanks

Gold Rocket | Satoshi Club: thanks! ready for the next question? or want to add something?😊

K P: ready

Q5 from Telegram User @AugusS7

One of the characteristics of Cook Finance is that it has three different oracles, such as “Chainlink, Band Protocol, Uniswap Oracle”, but could you explain why so many oracles are required? Could it be that by joining the services of the three, it is possible to avoid data concession problems with blockchain?

K P: yes. sorry my computer screen froze a little bit. I just got the question. we are planning to have decentralized oracle services so that we do not have single point of failure. say if one oracle malfunctions or got manipulated somehow, we can still use other oracle services to determine that something abnormal happened. also we are not limited by three. three is just an example given in the white paper. but decentralization is the point that we want to illustrateto minimize over-dependency on one particular oracle service

done with my answer

Gold Rocket | Satoshi Club: great answer! 🚀

Маry Satoshi CLUB: Didn’t you think about your own oracles creation?

K P: that’s the place we don’t want to put too much focus on since we only have so much resources. Don’t want to spread too thin. We need to focus more on creating valuable investment services for investors

Маry Satoshi CLUB: Understand 🙂

Gold Rocket | Satoshi Club: Please share with the Satoshi Clubbers your plans for the future, tell us what you have in the roadmap? 😊 please

K P: sure

it’s gonna be exciting time. we plan to list on Uniswap pretty soon like in a few weeks .we announced Poolz IDO already

will announce more soon and we will have some quite interesting campaign launched next week

Маry Satoshi CLUB: Can you give us a hint?😀

K P: it’s about NFT

Маry Satoshi CLUB: Oh, that’s my favourite 😂😂😂

K P: on the product side. we are moving pretty aggresively

Маry Satoshi CLUB: Sure, now is the best time to move! World should know about Cook Protocol 🎉

K P: being audited by Slowmist on our index product currently

Gold Rocket | Satoshi Club: Good mooooning Cook Protocol🚀🚀🚀😁

K P: will finish the frontend of our index product UI pretty soon

Маry Satoshi CLUB: Nice choice 🚀

K P: planning to launch index products on HECO and Ethereum probably around the beginning of April. right after Uniswap listing

within 1-2 weeks gap

 marketing is on full steam

for both English speaking community and in China

Маry Satoshi CLUB: A lot of events 👏👏👏

K P: yeah

Маry Satoshi CLUB: We will follow your announcements!

K P: and we will do liquidity mining for sure to bootstrap our ecosystem and products

Маry Satoshi CLUB: Thank you for your answers! Ready for the 6th and last question from this part? Really? It’s a great to join from the beginning!

K P: yes, you can join the telegram https://t.me/cook_english or the announcement channel https://t.me/cook_announcement

yes

let’s go

Q6 from Telegram User @BeaEvolet

It strikes me that one of the features of the token is that holders can choose the rates they want, the most logical thing is that users will go for almost free rates, my question is how is the Cook protocol going to be sustained ? Only with mining ?

K P: not entirely sure if I got the question right

so the rates refer to the fees that they pay?

Маry Satoshi CLUB:

Where you are planning to be profited from?

K P: I see. the revenue model

Gold Rocket | Satoshi Club: where is the finance for the development of the project .. is it possible to understand that?

K P: so first of all, fund managers will collect fees from investors for the services that they rendered. Cook Protocol will take certain percentage of the fees off the management fees that fund managers can collect

Маry Satoshi CLUB: Which fees will you have?

K P: so we intend to become a platform, so on our platform investors can send their funds to a smart contract that will be managed by professional fund managers. for them to use our platform, we will charge fees. for the fund managers side, since they will earn money by helping investors manage their funds, they will collect management fees. certain percentage of the management fees will be shared with Cook Protocol platform for the usage of our platform

Маry Satoshi CLUB: Good structure 👍

K P: so we provide a platform where fund managers can get liquidity from investors and advanced trading tools

Маry Satoshi CLUB: Everyone will be in profit😉

K P: yeah, it’s a typical marketplace design, where we charge the supply side not the demand side suppliers are fund managers for providing the service

Gold Rocket | Satoshi Club: win-win!

K P: demand is the investors that demand investment service

Yeah

and usually a good marketplace always starts with the supply side first and then demand side will come after

Маry Satoshi CLUB: That’s right ☺️

K P: so that’s why we care a lot about our ecosystem of fund managers and will do a lot of curations to ensure quality

Маry Satoshi CLUB: Thank you for your answers 👍

K P: yeah that’s my answer

Маry Satoshi CLUB: I know that our members are waiting for the live part to ask questions 🙂

Part 2 — live questions from the Telegram community

Q1 from Telegram User @JuanSB07

Cook Protocol offers ease and convenience to attract investors to its platform. What are the different investment options / plans that you offer? Are they really provided by fund managers and are they transparent?

K P: So we plan to do three phases. At phase 1, we will mostly create investment strategies on our own. Phase 2 we will curate and select high quality fund managers. phase 3 we will open up to everyone. It will be more like free market economy at that point 

Q2 from Telegram User @Rmitch

Have you thought about your crypto life? Is it better than a traditional business?

K P: I would say we are still in the early days of crypto. I like to read history. Although I am not old enough to live those days, but it’s little bit like internet in the 90s. A lot of hype and a lot of over-promises on things that they could not do in 90s but they could totally do in 2010s and a lot of massive funding. So I would say definitely it’s fun to live on the edge and upgrade fast

Q3 from Telegram User @JoanaZ

️Speak us a little bit about security, considering that Cook Protocol was made to attract huge investors, do you have the enough resources to guard those funds?

K P: for fund security, we have different measures in place. First of all, fund managers do not have withdrawal access. They can only allocate funds. Also they need to whitelist the protocols that they will interact ahead of time before anyone invests. After if they want to modify their access, they have to go through a DAO voting. In addition, we will also require COOK tokens staking from fund managers, if they mal-behave, their tokens will get slashed. Lastly, we will have insurance to help mitigate risks

Q4 from Telegram User @K2ice

Security is a difficult thing in DeFi as there have been many different attacks like security, liquidity, and strategic attacks. How much do you prioritize security at Cook protocol and how difficult do you think it will be to attack Cook protocol?

K P: this is about coding security compared to fund security that I answered in the last question. So security is the topmost priority for us. We have an awesome team from Google, Youtube and Dropbox. So we have high coding standards. We use battle-proven framework like OpenZeppelin. And we perform robust unit and integration testing. Finally, we also do audit with the industry leading audit firms like CertiK and SlowMist

Q5 from Telegram User @Garrinepotter

The Cook Protocol ecosystem has two different levels of governance, please tell us about them

K P: one is on the Protocol level and COOK tokens will be used to manage protocol level governance. Then ckTokens are LP tokens and fund-specific, therefore they will be used for fund-level governance

Q6 from Telegram User @Joshblaze

On what exchanges are you currently trading

K P: we are not listed yet. But will be on Uniswap first and some other DEXes on HECO and BSC

Q7 from Telegram User @imrealsatoshi

How many tokens will you support for to asset management?

K P: the specific number of tokens have not been determined yet, but we will initially only include the major tokens to ensure security. Later on, we plan to add smaller market cap tokens to add more potential returns given higher risks

Q8 from Telegram User @KhaleesiTheCryptoLady

What task do we need to do and which programs  we should participate for us to get Cook tokens?

@kp_cook

K P: we will launch a meme contest in our community pretty soon, like today or within a day. So that’s one example of programs. But join our telegram to learn more https://t.me/cook_english

Q9 from Telegram User @BlancaSdF

“IP protection: No need to open-source investment strategies”

Can you better explain this feature? I did not understand very well what exactly this refers to

K P: so the code will be open-source and everyone can read it and fork the codebase. However how the investment strategies that each individual fund manager adopts is kept private to themselves. Their asset allocations and transaction history will be traceable on the blockchain. But the why part of their asset allocation philosophy will not be published

Q10 from Telegram User @surendra040

Hello!

@kp_cook

Cook protocol announced a recent strategic partnership with DUCKDAO, tell us please about background of Duckdao, is it similar to project cook protocol  and what benefits would be gained from this partnership.

K P: sure. So duckDAO is a community based accelerator program for crypto projects. They are very well connected in the industry and have incubated quite some successful projects. What we gained from the partnership is their advice on marketing and overall strategies. Also, they introduced to quite some strategic partners. So far, we have announced duckDAO, Velas, Poolz strategic partnerships. They all add a lot of value to our project. And we will have many more to be announced in the upcoming few weeks.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Cook Protocol. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.

For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners:

Telegram Group: https://t.me/cook_english

AMA Satoshi Club x Genesis Shards, March 30th

We are pleased to announce our next AMA on March 30th 2021 at 03:00 PM UTC Time: Satoshi Club x Genesis Shards

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Genesis Shards Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 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. Genesis Shards Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Genesis Shards

For more details:
Genesis Shards – @genshardsANN
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

AMA Satoshi Club x Whirl Finance , March 21st

We are pleased to announce our next AMA on March 21st 2021 at 04:30 PM UTC Time: Satoshi Club x Whirl Finance

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Whirl Finance Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 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. Whirl Finance Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Whirl Finance

For more details:
Whirl Finance – @WhirlFinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

AMA Satoshi Club x oxbull.tech, March 20th

We are pleased to announce our next AMA on March 20th, 2021 at 04:30 PM UTC Time: Satoshi Club x oxbull.tech

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join oxbull.tech Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 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. oxbull.tech Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about oxbull.tech

For more details:
oxbull.tech – @Oxbull_tech
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

AMA Satoshi Club x Raze Network, March 21st

We are pleased to announce our next AMA on March 21st 2021 at 02:00 PM UTC Time: Satoshi Club x Raze Network

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Raze Network Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 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. Raze Network Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Raze Network

For more details:
Raze Network – @Raze_Net
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Wealth Locks x Satoshi Club AMA Recap from the 15th of March

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 Wealth Locks and our guest was:
Bjarne Hejl – @BHejl – The lead developer;
George – @georgej20 – The head of the Marketing side.
The AMA took place on the 15th 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

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

Goldie Rocket | Satoshi Club:
Good evening dear Satoshi Clubbers!❤️

Bjarne Hejl:
Hello guys. Happy to be here. All good. Thanks for the cordial invitation. Let’s start and make the satoshi club community aware of Wealthlocks.

George:
Heyy. Thank you for inviting us here.🔥🔥😊

Goldie Rocket | Satoshi Club:
Kindly tell a bit about yourself and about Wealthlocks.‌‌

Bjarne Hejl:
I am the lead developer in the Project. I build smart contracts on Ethereum and BSC blockchain. I have already developed well-known projects like $FST and $BASE2. Now, I am designing and thoroughly testing smart contracts for the Wealth ecosystem. Wealth locks is a decentralized application that allows blockchain projects to lock their BEP20 tokens and (LP) Liquidity tokens in a non-custodial, time-released smart contract vault.
We are the only ones on BSC that provide Liquidity as well as team tokens lock. Also, we have a 1% Transaction fee on each transaction which gets distributed among holders similar to RFI. The vision of the Wealth ecosystem is what I love the most.

Mary | Satoshi Club:
Yes, you’re BSC pioneers 😀 What is the vision of Wealth Locks?

Bjarne Hejl:
The vision of Wealth is to build an ecosystem in which investors can get most of the services in one place. We will be developing and be integrating products in the Wealth ecosystem one by one. Our 1st product Wealthlocks is live. Wealthtools is in the completion stage. It will be live by the end of March.

George:
Sorry, I had a Problem with My Telegram. I manage the Marketing side of Wealth and I have almost 3-4 years of experience in the Blockchain Industry. WLT is the governance token of the Wealth platform and will be utilized for all the BSC-focused services to be built under the Wealth ecosystem. Besides this, the WLT token itself is the fork of RFI ( reflect finance on Ethereum blockchain) with added features to increase buy pressure.

Mary | Satoshi Club:
You’re doing good! Did any projects already use your Wealthlocks services?

Bjarne Hejl:
The Total Value Locked in the Wealthlocks smart contract is more than 1 Million already. Few Projects that are yet to be launched have already committed to locking with us. Specific stats can be checked on the dashboard on our website wealthlocks.io

Goldie Rocket | Satoshi Club:
Can you please share with us which ones?

Bjarne Hejl:
Sharedefi, Bafi Finance, Pepe, Wojak and BlackBox are some of them.

Mary | Satoshi Club:
Your market cap is still extremely low 😉

Bjarne Hejl:
Our marketing campaign has already started on all social media platforms. It will pick pace with the launch of Wealthtools.

Goldie Rocket | Satoshi Club:
Thank you very much for the great intro! ready for community questions or would you like to add something?

Bjarne Hejl:
We recently got featured in BSC Project with Reputable Projects like Chainlink, Graph, BSC SCAN, BSC NEWS.
https://twitter.com/bscprojectorg/status/1369955293149327361?s=21
We’re one of the few BSC Projects that are listed on Coingecko as well as CoinMarketcap.

Yes, we can start with the community questions.

Goldie Rocket | Satoshi Club:
Q1 from Telegram User
@Korryl
Wealthlocks is the first lockup project on BSC. I think I have seen a similar project on the ETH network. In your opinion what is the difference between being a Lockup project in ETH and BSC? And why did your final decision come to BSC?

Bjarne Hejl:
Due to higher speed and less fee, many devs have shifted to BSC. It is the need of the hour. From a development, perspective BSC is very similar to the ETH chain. If you want to get an idea of where our project stands in comparison to the ETH based project you can check this tweet:
https://twitter.com/wealthlocks/status/1369996544154296322?s=28

Mary | Satoshi Club:
But maybe you added some new features?

Bjarne Hejl:
Yes, we added a team token lockup facility, a very simple interface and many more such features will be coming with wealthtools.

Mary | Satoshi Club:
And one more question. As I understand, you also can’t guarantee that project won’t rug, right? You just locking tokens, but responsible for audit, some contract functions still on the project.

Bjarne Hejl:
Nobody can guarantee that a project can’t rug. But it is very less likely if a project locks its liquidity and team tokens. It builds investor confidence and protects them up to some level.

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

Bjarne Hejl:
Yeah.

Goldie Rocket | Satoshi Club:
Q2 from Telegram User
@AmirJosh
Do the locked tokens on Wealth Locks vault all insured, incase some untoward incident occur that might compromise the assets? Do you have an insurance policy?

Bjarne Hejl:
Our smart contract is thoroughly tested and audited. You can check the audit report here: https://twitter.com/nightwatchaudit/status/1364768798943797250?s=21 and also on the website. An audit from Certik is also under process. That will be shared on the website. N for insurance we are planning a wealth vault that will be integrated after the launch of wealthtools.

Mary | Satoshi Club:
You choose a good audit company 😄 Good that you care about security! Didn’t you think to use third-party services for insurance?

Bjarne Hejl:
From our perspective security should be the main focus of any project. Our team is deciding on the features of the wealth vault. Maybe we can integrate third-party insurance services there.

Goldie Rocket | Satoshi Club:
Thanks for your answers! ready for the next question?😊

Bjarne Hejl:
Yeah.

Goldie Rocket | Satoshi Club:
Q3 from Telegram User @Brainchest
I don’t quite understand, what is the advantage of blocking tokens through your smart contracts and paying? Projects can block tokens at a dedicated address without losing money on fees for you.

Bjarne Hejl:
There are many differences between a project locking its tokens themselves and a secured platform. We have done rigorous testing and audit from trusted third parties to provide a simple, interactive and secured platform. It will also help them build investor confidence and these projects will get to use the other services of the wealth ecosystem at no cost.

Goldie Rocket | Satoshi Club:
Please tell us what are these other ecosystem services?

Bjarne Hejl:
WEALTH TOOLS- It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on the pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2-3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from the Wealthtools platform will be used to buy Back WLT. Wealth pools, wealth launchpad, wealth staking platform, wealth dex are all in pipeline. Our team is currently fully focused on wealthtools to launch it before march end.

Mary | Satoshi Club:
Maybe you will also help projects to find new investors?

Bjarne Hejl:
Surely we will be helping them along the line.

Mary | Satoshi Club:
Excellent services! I think all BSC users are waiting for such kind of project! Actually, I was wondered when I knew that there isn’t a lot of infrastructure projects there.

Goldie Rocket | Satoshi Club:
By the way, since you are talking about the team .. could you tell us a little about who these people are? A team of like-minded people, what kind of work do they do?😉

Bjarne Hejl:
Our team consists of 8 members at the moment. Two of them are solidity experts and two of them are javascript developers. The rest of the team works on ideas and marketing. Everyone in our team has almost more than 3–4 years working experience in the tech and blockchain industry.

Mary | Satoshi Club:
Thank you for your answers! Ready to jump to the next question?🚀

Bjarne Hejl:
Yeah.

Goldie Rocket | Satoshi Club:
Q4 from Telegram User
@konditer_rolex
What happens if the person who blocked the tokens with your help decides to withdraw them ahead of schedule? Is there some mechanism that allows him to do this? And how does the process of returning tokens to the owner generally take place? Does he have a key? Or do you have some kind of system identification of the owner of blocked tokens?

Bjarne Hejl:
No one can withdraw funds from lockup till the time is up, not even us. After the specified time, only the Owner can claim the funds back. As it can be claimed from same wallet from which the funds were locked. It is all inbuilt in the smart contract.

Mary | Satoshi Club:
If some emergency happens?🧐

Bjarne Hejl:
The owner just has to claim from the dashboard after the time duration of the lock is expired.
No, it can’t be done. Otherwise it serves no purpose.

Mary | Satoshi Club:
Lock is strong 💪 thank you! Ready to go to the next question?😉

Bjarne Hejl:
Yeah.

Goldie Rocket | Satoshi Club:
Q5 from Telegram User @h1drX
I believe that the fact that a token is listed in DEX’s or CEX’s can provide more trust and security to users. And it has come to my attention that $WLT is only in PancakeSwap. Do you plan to list $WLT on Uniswap or KuCoin?

Mary | Satoshi Club:
When Binance?😂

Bjarne Hejl:
For now, it is only listed on pancakeswap. We will be pushing for major exchanges after wealthtools is live. Hopefully in coming months.

Mary | Satoshi Club:
Btw, I hope you were not affected by the recent accident with Pancakeswap?

Bjarne Hejl:
No, we are not affected, but it is not good for the BSc ecosystem as such.

Mary | Satoshi Club:
Yes, that’s true. But it’s a good signal for improving security.

Bjarne Hejl:
Definitely 👍

Mary | Satoshi Club:
Thanks! Ready for the 6th and last question from this part?🔥

Bjarne Hejl:
Yeah

Goldie Rocket | Satoshi Club:
Q6 from Telegram User @Wormz28
NFTs are the trend nowadays and very popular in the Crypto space and I’ve heard you are planning to introduce the NFT marketplace in wealth ecosystem soon. So when will it be and if you don’t mind me asking, could you share in advance your plans regarding this matter? Also it would be nice too if you can share here with us what are the milestones you are looking forward to achieve?

Bjarne Hejl:
As I already told you for now we are fully focused on launching Wealthtools. N then we will moving as per our roadmap. But hopefully we will have NFT marketplace surprise for community by April end😉

Goldie Rocket | Satoshi Club:
Please share your roadmap with the Satoshi Clubbers? 😉

Bjarne Hejl:

Roadmap-
WEALTH TOOLS- It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on the pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2-3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from Wealthtools platform will be used to buy Back WLT.

WEALTH POOLS- A newer Decentralised Platform where a Defi Project will be able to create different custom pools to Auction their tokens for pre-sale or to raise funds for their Project that to be listed on BSC.

WEALTH LAUNCHPAD- We’ll be introducing Launchpad for Launching Projects on Binance Smart Chain. We will thoroughly investigate all aspects of projects to judge their legitimacy for a token sale on Wealth Launchpad : Team, Technology, Product, Community, and of course business model. Also, the Liquidity will be Locked on Wealthlocks to secure Investors funds.

WEALTH STAKING SERVICES- We are going to launch a unique staking platform where Projects will be able to launch Staking of their tokens in a very Simple, Secured and Transparent way. It will be customized as per project and community demands.

WEALTH DEX- As we all know, the continuous Increase in gas fees of Ethereum network has led to Investors to try different Decentralised Exchanges on other blockchains. But still, we’re in a very early stage of DEX development. We have some amazing ideas and will be bringing the most futuristic DEX out there in the near future.

All the other Mentioned features like Pools, Launchpad, Staking and Dex will be live within 7-8 months.

Mary | Satoshi Club:
And our community was also locked for some time and now they want us to give them more chances to ask questions 😄 it’s a hint that the live part is near👍 Guys, are you ready?

Bjarne Hejl:
Yup.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Apocan

Do you have any plans to work with blockchains other than BSC?

Bjarne Hejl:
Yes, we have plans to integrate it with other blockchains as soon as our full wealth ecosystem is live. Yes, we have plans to integrate it with other blockchains as soon as our full wealth ecosystem is live.

Q2 from Telegram user @ Drogon

Wow, I am impressed to see that in just 24 hours the value of $ WLT has risen by approximately 150% (today, March 14th). This tells me that $ WLT has been in high demand and community trust in the token, but do you think $ WLT could continue to rise? Do you think the community will continue to demand your token? What do you hope?

George:
We think that BSC is in a very early stage, Wealthlocks was the need of the hour as lots of investors were losing their money because of no liquidity lock. Wealthlocks is the only one on BSC that not only provides Liquidity lock but also team tokens lock. Next up we’re coming up with Wealthtools which will be a combination of Dextools+ Coingecko. We’re just finding solutions and real use cases. Price reflects itself.

Q3 from Telegram user @ 💛💚Blanca💙 ❤️

What are the BENEFITS of being able for each one of us to appropriate some of WLT tokens, is there any special incentive from a utilitarian and economic point of view?

Bjarne Hejl:
Yes, there is a 1% fee for every transaction that gets distributed to holders. Bonus events will also be conducted at specific intervals. Holders will also have a say in the governance of the Wealth ecosystem.

Q4 from Telegram user @ Nguyenthanh

Can you tell me how the Wealth Lock project get profit from to maintain your project? Is it from transaction fees? How much percentage did you charge fees for each transaction?

Bjarne Hejl:
We only charge .5% of the total funds that are to be locked. Our main source of revenue will be from wealth tools in form of advertising and other service revenue. It will be live within 2 weeks.

Q5 from Telegram user @ Tuvalunia

Which wallets can I connect with Wealth Locks?

Bjarne Hejl:
For now, the only metamask is integrated. Almost all the BSc chain wallets will be integrated into the coming week or so.

Q6 from Telegram user @ Rolex

What do you guys believe in more? Hype, technology, or organic growth in the value of WLT? I would like to know which of these options you have chosen for your project. What is the role of the WLT token on the platform and how do you plan to maintain the price?

George:
We’re building working products with real use cases and trustful technology which leads to the organic growth of the Project. WLT is the governance token of the Wealth platform and will be utilized for all the BSC focussed services to be built under the Wealth ecosystem. We’re building Wealthtools which will be our Major Revenue generating platform of around 200-300k. All revenue generated will be used to buy back WLT.

Q7 from Telegram user @ Li

🌟 One of the roadmap goals of Wealth Locks is the Wealth Launchpad for launching projects on BSC. Can you tell us an estimated date for the release of this Launchpad? And how will you make sure that the projects are legitimate and serious? Will those projects have to meet certain criteria to launch with Wealth? @BHejl @georgej20

Bjarne Hejl:
It will be launched by April – May. We will organize a complete team to review projects thoroughly. We r hiring and building our team on a continuous basis. They will check all the loopholes and grind the project teams as much as possible to give the community the best projects.

Q8 from Telegram user @ Magdalena

What benefits does a project get by locking its tokens? What difference does it make if they are locked or not?

George:
It builds investors’ trust which is the most important thing for the success of any Project. If the liquidity isn’t locked, it increases the chances of investors losing their money or the project can easily ‘Rugpull’. That’s why Wealthlocks is made to protect investors’ money.

Bjarne Hejl:
The project gets credibility and investors get confidence as and when team and liquidity tokens are locked for a project. N also projects get to be part of wealth ecosystem n they will be receiving support from us and also gets to use all our features.

Q9 from Telegram user @ Joxes | C R Y P T O W A V E

Pancakeswap website has recently been hacked, are you taking note of how to strengthen the security and reliability of the Wealth Locks ecosystem (smart contracts, websites, gateways) in the future?

George:
Yes, our Smart Contract is well secured and already Audited as we think that Security should be the first priority of any Project. You can check the Audit report here :
https://twitter.com/nightwatchaudit/status/1364768798943797250?s=21
We have a team member specifically for keeping full security on the Website and gateways. All the future Audit reports will be shared with Community.

Q10 from Telegram user @ Icy

Wealth locks allow developers who built projects on Binance Smart Chain to lock their team and liquidity tokens. So what is the first thing that we must do if we want to lock up project tokens in Wealth locks? What is the step-by-step guide? And how many fees did you charge to lock the token?

George:
You can check step by step guide on Our Website. Minimal fees of .5% is charged which will be used to buy back WEALTH. You can also check our Medium Article here https://link.medium.com/XYvdrR9tEeb

Part 3 – Quiz Results

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

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

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram Community – https://t.me/wealthlocks
Medium – https://wealthlocks.medium.com
Twitter – https://twitter.com/wealthlocks
WebSite – http://wealthlocks.io

Zenlink X Satoshi Club AMA Recap from 16th March

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 Zenlink and our guest were @Lu1_Fromxxx @GUOHUILEO. The AMA took place on 16th March

The AMA session was divided into 3 parts with a total crypto reward pool of 800 ZLK.

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

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

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

D. | Satoshi Club: our today’s guests – @Lu1_Fromxxx @GUOHUILEO ! welcome to Satohis Club guys! 👋

Leo Guo: hello

Mary | Satoshi Club: Hello, Leo! Welcome here 😀

D. | Satoshi Club: hello! how are you doing? 😊

Yi Lu: hello all

Leo Guo: Great here

D. | Satoshi Club: awesome! good to have you here guys! 😊 let’s begin our AMA! 🚀

Leo Guo: Somebody knows Zenlink?

Mary | Satoshi Club: To be honest – yes😂

Leo Guo: Thanks

Mary | Satoshi Club: But i am talking about me and @Cool_as_Ice

Leo Guo: Let’s start

Mary | Satoshi Club: So, please, introduce yourself and Zenlink to our community 😀

D. | Satoshi Club: after this AMA lots of new people will know about Zenlink! 💪

Leo Guo: Well.

Zenlink is a cross-chain DEX protocol based on Polkadot that helps all parachains to achieve global liquidity sharing and cross-chain transactions, allowing users to securely exchange any assets between different parachains.

Zenlink DEX is composed of two core parts: the first is Zenlink DEX Module, which can be deployed on parachains in a plug-and-play way to realize “one-click DEX”, and the second is XCMP-based cross-chain DEX protocol, which can connect the liquidity of all parachains and realize cross-chain trading function at the same time, and users don’t need to care which parallel chain they are doing DEX trading on.

For developers or parachains, they can quickly implement DEX functions by integrating Zenlink DEX Module without repeated development; secondly, other DEXs can be aggregated to Zenlink DEX network by calling the interface and sharing liquidity.

Mary | Satoshi Club: Great structure 👍

Leo Guo: For users, they can enjoy a transaction network with low miner fees, low latency and low slippage, and users of different parachains can complete cross-chain transactions without any perception.

 

Mary | Satoshi Club: In which stage is Zenlink development now?

D. | Satoshi Club: 👍👍👍

Leo Guo: In the cross-chain DEX protocol part, we will first complete the asset or message transfer between our DEX Modules based on the official HRMP and XCMP protocols, but of course there are still a lot of customization required for the DEX-specific protocol layer, such as the routing method of the liquidity pool, the naming of assets of different parachains, the unification of asset standards, etc.

We have already delivered two Web3 Grants, and the third Grants application for cross-chain transactions has been approved. We are testing the integration of Zenlink DEX Module and cross-chain transactions on Rococo V1 test network. A few days before Chinese New Year, we and Bifrost successfully implemented cross-chain asset transfers and transactions in the local test network environment of RococoV1.

Mary | Satoshi Club: Great achievements! Thank you, Leo!

What can you tell us about your team?😀 How big is it?

Leo Guo: I can give you some stats about  Zenlink project

D. | Satoshi Club:yes, please!

Leo Guo:

overview stats

Mary | Satoshi Club: Got it! Thanks!

Leo Guo: Me and other co-founder working on imToken before

worked more than 3 years in imToken

Mary | Satoshi Club: Nice background😀

Leo Guo: imToken is the biggest Ethereum wallet in the world

Thanks

And that’s the main intro about Zenlink

Mary | Satoshi Club: Yes, we know and Zenlink should be happy to have such experienced members 👍

Also, i want to tell that you have great partners!😉

D. | Satoshi Club: and great investors 😊

Leo Guo: 😄

Mary | Satoshi Club: You have everything for success 🔥

Leo Guo: Yeah, we are very serious  about our partner

D. | Satoshi Club: super! thank you for the amazing intro! if you are ready we can start with the community questions and open first part of our AMA? 😉

Leo Guo: Let’s move!

D. | Satoshi Club: 🚀🚀🚀

Q1 from Telegram User @ysasoma

You mention that you are committed to building a new generation of cross-chain DEX network. By integrating the Zenlink DEX module, can you tell us what are the advantages that this system offers?

Leo Guo: Good question! And I make the intro above, I think.

Mary | Satoshi Club: Will you have your own Zenlink swap?

Leo Guo: We will build a DEX DApp for users also. But the dex protocol is the more important

Mary | Satoshi Club: Do you already have developers which are ready to use your protocol?

Leo Guo: others can build swap according to our protocol

Yeah.

D. | Satoshi Club: oh this is nice! 👍

Leo Guo: The other parachain, like Bifrost, phala, Plasm

Doing the test in Rococo V1

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

Leo Guo: Kusama parachain slot auction

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

Q2 from Telegram user @Karoceh

I didn’t find any information regarding ZLK tokenomic. When is the ZLK tokenomic expected to be released? and can you share what utilities will ZLK have and how to use them in the Zenlink ecosystem?

Leo Guo: Tokenomic will be announced soon, expected in late March or early April. The tokenomic will incentivize other parachains to integrate Zenlink DEX Module.

Utility-wise, our DEX Module is inherently beneficial to parachain developers as well as users, with the incentive to use it, and we will let other parachains join us through close technical cooperation, as they focus on their own business.

D. | Satoshi Club: awesome! by the way will it be possible to integrate Zenlink DEX Module in other blockchains like Ethereum or Cosmos?

Leo Guo: ZLK token is the native token of Zenlink DEX network. Hold the token means you can get the network rights and interests, like trading fees discounts, staking rewards, governance, network benefits, parachain rewards, etc

Mary | Satoshi Club: Thanks! And our next question is this question continuation 😀 ready?

Leo Guo: Great. We are focusing on the Cross-chain DEX protocol. Polkadot at first. Then to other blockchain

come on

D. | Satoshi Club: cool 👍

thank you for answers!

Q3 from Telegram user @lzamg

I read that there aren’t any plans of ZLK token sales. Can you tell us why did you make that decision? And if you don’t mind me asking, from where do you get the funds necessary to continue developing the Zenlink platform if you’re not doing token sales? Does Zenlink have investors?

D. | Satoshi Club: we already know that Zenlink has investors 😉😊

Leo Guo: Yes. Many projects will choose to use public sales as a way to raise funds as well as token distribution, but we are not considering it for now.

We think public sales is more of a token community distribution role, but we want to use a more pure approach to community distribution, such as users participating in the construction of our products to get ZLK token, rather than taking a public fundraising approach to ordinary users.

And then become our holders or builders

D. | Satoshi Club: great approach 👌

Leo Guo:Financing we will be geared towards more professional investment institutions, such as the round of financing we have already closed, are the top investment institutions in the industry. They will not only give the project financial help, but also more professional guidance.

For more information: https://medium.com/zenlinkpro/polkadot-cross-chain-dex-zenlink-secured-1-1-936293d4c03a

Thanks

Mary | Satoshi Club: Yes, as for me you choose a fair way😀 so, if we will contribute in some ways to Zenlink we can also expect that we can get ZLK?

Leo Guo: There are several ways to get ZLK:

1. Participate in the giveaway events launched by Zenlink and its partners. Zenlink has already launched several giveaway events till now, and the winners will receive ZLK rewards after the mainnet of Zenlink is launched.

2. Lock DOT/KSM to support Zenlink’s partners to participate in PLO. Zenlink plans to allocate some ZLK to support our partners to bid for PLO and airdrop ZLK to users who support our partners. More details for this will be published before the launch of PLO.

3. Participate in ZLK liquidity mining. Zenlink plans to initiate its liquidity mining after the product launch, and users can get ZLK rewards by providing liquidity to Zenlink DEX network.

4. Join Zenlink DAO governance organization at a later stage. Zenlink plans to establish a DAO organization to participate in the project governance deeply. Members of the DAO organization can initiate proposals to Zenlink’s development plan and also participate in ZLK liquidity mining at an early stage.

5. Buy ZLK in the secondary market when it gets listed on exchanges.

Mary | Satoshi Club: Thank you! It’s clear now! Satoshiclubbers 😉 you see🔥

Leo, do you want to add something or we can go to the next question?

D. | Satoshi Club: and AMA winners will also get ZLK as well 😉😁

Leo Guo: hahah, yeah

D. | Satoshi Club: ready for the next question? 😇

Leo Guo: alright

Q4 from Telegram user @hon_aim

Cake and cream among others were allegedly had a DNS attack today, this is not a new thing…..How does Zenlink talk security issues to asure users that they are save from any kind of attack?

Leo Guo: Good question. We are focusing on it

Because I am working on imToken, and extremely serious about product security.

from our perspective, firstly, we will follow some good security practices, such as using strong passwords and password saving tools and other measures to ensure that all our own service accounts will not be maliciously stolen.

Mary | Satoshi Club: Yes, really yesterday a lot of people were scared…

Leo Guo: Second, the third-party services we involve, including DNS services, cloud services, etc., are sourced from top-tier international providers. Some of their services are able to deal with similar DNS attacks, such as dynamic DNS resolution, firewall filtering, etc.

Third, we also cooperate with external security service providers to do penetration testing attacks regularly in order to identify improvement points.

For users, in one word, never disclose private keys and helper words to anyone and any project.

Mary | Satoshi Club: Will these measures completely eliminate the possibility of an attack or reduce its likelihood?

Leo Guo: Because this question just about DNS attack

D. | Satoshi Club:  yep, many people in crypto still forgetting about these important things

Mary | Satoshi Club: Or they are new and simply don’t know

Leo Guo: Control your private key and keep it safe

Mary | Satoshi Club: Thanks Leo! Do you want to add something or we can jump to the next question?

Leo Guo: next question

we can talk about in part2

D. | Satoshi Club: let’s gooooo!🚀

Q5 from Telegram user @Wormz28

As a cross-chain DEX protocol based on Polkadot, what important role will Zenlink play in capturing the liquidity of Polkadot ecosystem and what good progress in product and cooperation you’ve made now so far? Also can you explain more what is Rococo V1 and what is PLO and how important is the launching of PLO in your Ecosystem?

Leo Guo: Zenlink is positioned as the hub of the liquidity pool of the Polkadot ecosystem, creating a cross-chain DEX protocol. So we are not a parachain project, different parachains can share liquidity and complete cross-chain transactions by accessing the Zenlink DEX module with one click. This is the biggest difference between Zenlink and other specific Swap products.

As the achievement

 

Rococo is the official Polkadot (Parity) test network launched specifically for parachain slot auctions, the latest version is V1, which is often referred to as RococoV1. You can view the test parachains that are currently connected to rococoV1: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains

Zenlink has also registered a parachain to test our product. We will not be auctioning parachains when PLO goes live.

PLO means parachain slot auction, where users or investors pledge DOT or KSM to help their backed parachains to get slots.

D. | Satoshi Club: nice! thank you for clarification 😊

Mary | Satoshi Club: For me everything is clear 😀

D. | Satoshi Club: yep. good explanation 👍

i think we ready for the last question from part 1?

Leo Guo: nice

let’s go

Q6 from Telegram user @yellowchamp

As Zenlink received a 2nd Web3 Foundation Grant to develop DEX smart contract implementation,can you explain more about this grant? What innovation and development we can expect upon accepting this grant in your platform? Thank you

Leo Guo: Web3 Grants is a fund set up by the web3 Foundation to fund the development of the Polkadot ecosystem. All Polkadot eco-projects are free to apply, officially reviewed, and receive grants for delivering code or products. we have received a total of three grants so far, for example, our second grant is for delivering a substrate based smart contract (!ink) and it is already open source.

Mary | Satoshi Club: So, you have funds from Web3 Foundation and also from investors, right?😀

Leo Guo: Grants generally for open source immediately. But most of our code not open source

Mary | Satoshi Club: Gotcha 👍

Leo Guo: That’s the key point. Please follow Zenlink

D. | Satoshi Club: https://t.me/ZenlinkPro_EN

Mary | Satoshi Club: Sure! We will definitely check your updates 🎉

D. | Satoshi Club: we will follow your project 😉

Mary | Satoshi Club: Ready for the live part, Leo?🚀

D. | Satoshi Club: @Lu1_Fromxxx @GUOHUILEO big thank you for answers in part 1! we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi Сlub members!

Leo Guo: Give community and ecosystem more surprise

Mary | Satoshi Club: Sure!

Leo Guo: let’s do it

Mary | Satoshi Club: Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @JuanSB07

They mention that Zenlink-based cross-chain DEX network is based solely on Polkadot, why not trust another chain like Ethereum? What are the differences and benefits that the Polkadot network offers compared to other chains?

Leo Guo: Actually we are making some connection with other blockchain communities. Like OpenOcean(BSC),compound gateway chain (Ethereum)

Q2  from Telegram user @KhaleesiTheCryptoLady

Is Zenlink and Chainlink related with each other? Please tell us what is your difference with them?

Leo Guo: Chainlink is an Oracle blockchain project. Zenlink is a cross-chain DEX protocol based on polkadot. But we are a good relationship

Q3  from Telegram user @WormZ28

So many successful Strategic Partnerships you’ve made so far for the past months, Congratulations for that. So do you believe Strategic Partnership is the KEY for a Cryptocurrency Projects to grow? Will ZENLINK seek for more Partners? Also for you, what are the TOP THREE benefits these Strategic Partnerships will bring to ZENLINK?

Leo Guo: Why we choose them as Strategic Partnerships is our product have a good connection with them. As for growth, your product is the key

Q4  from Telegram user @Nickkiii

Hello Leo, I was looking for some information on Zenlink on CoinMarketCap, I realized you are not listed there, is ZLK already trading in exchanges?

Yi Lu: ZLK is not online, it is expected to be online during the Kusama slot auction, we will also be listed on CoinMarketCap, CionGecko and other platforms in the future, so stay tuned!

Q5 from Telegram user @smelekin

Have you made the smart contract audit and which company did you made the codes the audited?

Leo Guo: As for the code audit. Because kusama parachain slot auction not live, so our product not live also. Then the audit not yet. But before online, the code must be audit. Thanks

Q6  from Telegram user @Izamg

Zenlink is very interesting, but there are other Polkadot based DEX, so can you tell us what is what makes you the best platform? What are the differences between your products and other platforms’ products? @Lu1_Fromxxx @GUOHUILEO

Leo Guo: First of all, Zenlink is not a new project, our team has been building it since the middle of last year, and the recent trend of multchain is expected.

The advantage of Zenlink is that it is a cross-chain DEX based on Polkadot, which is a leading blockchain network in the cross-chain space, and we will have a natural advantage to build the Zenlink DEX network on top of them. In addition, our goal in the first phase is to solve the liquidity problem among Polkadot parachains. After the auction of Polkadot slots starts, there will be many parachains officially connected to the relaychain and a large number of multi-chain assets, then Zenlink’s advantages will be highlighted at that time.

Q7  from Telegram user @mctrho

Two of the most important features of Zenlink are the “Zenlink Dex Module” and the “Zenlink Dex Network”. Can you explain a little what these two features of the project are about?  What do they bring to users and what are their advantages?

Yi Lu: Zenlink DEX Module is a simple, highly versatile, pluggable DEX module built by Zenlink. By integrating this DEX module into each parachain, Zenlink enables “one-click DEX”, which allows parachains to quickly have DEX functionality, such as Swap, create pairs, etc., and share liquidity with other parallel chains.

The Zenlink DEX Protocol will create an underlying cross-chain DEX protocol, similar to the traditional TCP/IP protocol with a proprietary application layer, which will allow each parallel chain to share the liquidity of all the parachains on the Polkadot that have access to the protocol.

Q8  from Telegram user @Luisz2210

Zen + Link, what does it mean?

Leo Guo: Zen is a school of Mahayana Buddhism that originated in China during the Tang dynasty, known as the Chan School (Chánzong 禪宗), and later developed into various schools. Link means link with others DEX

Q9 from Telegram user @atillayeni

How many people are on your team and what are the jobs they do for the Zenlink?

Leo Guo: Our team has 12 members. 7 of them is developers, 1 for UI/UX, 1 for team manager, 2 for operation,1 for product

Q10  from Telegram user @Derazy

Browsing the Zenlink group telegram, I got the information that Zenlink will provide a strong incentive for community members who help build the Zenlink DEX network. Can you explain exactly how the community will be involved in building Zenlink? Are you going to release any program about this?

Yi Lu: We’ve always been big on community building, which is why we came to Satoshi Club for our AMA. the main ways the community is currently involved including:

1. Participate in official community activities

2. Participating in Zenlink DAO

3. Participating in product construction (providing liquidity, participating in trading, etc.)

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:

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