Satoshi Club

We were delighted to welcome our guest from PolkaBased. The AMA took place on February 24th 2021 and our guest was @PolkaBased.

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

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

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

Andrés M. | Satoshi Club: Welcome to a new AMA session, today our guests are @PolkaBased @Henry2678 @MayaPolkabased. How is going your week guys? 😃

Julian | PolkaBased Official: Hello and thank you for having us. We are doing very well. Working really hard.

Andrés M. | Satoshi Club: It is an honor for us to have you here

Julian | PolkaBased Official: And how are you guys doing?

Gold Rocket | Satoshi Club:  We are doing well 😊.Excited about the upcoming AMA. To begin with, please tell us a few words about yourselves and how did you get to be involved in PolkaBased @PolkaBased

Julian | PolkaBased Official: We have been crypto enthusiasts since the beginning of 2017. We started on the user side, this is where we became inspired by various crypto projects and solutions, especially rebase protocols. We take these experiences with us and believe that PolkaBased Protocol benefits from these experiences. PolkaBased protocol aims to function as a synthetic asset which represents speculations on the Polkadot fully diluted market cap.

Gold Rocket | Satoshi Club: Well, it’s a difficult but very promising crypto segment you decided to take.🚀

Andrés M. | Satoshi Club: Presale is coming, right?

Julian | PolkaBased Official: Yes Pre-Sale is coming soon, we have some announcements coming, the Whitelist is still open.

Gold Rocket | Satoshi Club: When will this happen?

Julian | PolkaBased Official: Coming with an announcement within a couple of hours!

Andrés M. | Satoshi Club: What were the difficulties you faced in starting the project?

Julian | PolkaBased Official: We found the complexity of the PolkaBased architecture a challenge at the beginning. But we are smashing it now 💪

Andrés M. | Satoshi Club: Great work, I think you are in the right side of the market 😃

Gold Rocket | Satoshi Club: @PolkaBased Thanks for the intro! Are you ready for community questions?

Julian | PolkaBased Official: Yes bring it on!

Q1 from Telegram User @juanSB07

Why are Polkabased smart contracts based on Ethereum? What are the benefits of Ethereum-based contracts? Does this make Polkabased Proposals and Votes transparent?

Julian | PolkaBased Official: Ethereum is still the most robust and familiar ecosystem in crypto. Ethereum smart contracts are highly customizable, widely deployed and tested. All on-chain activity is transparent for everyone to see. The gas price is a temporary issue. For now we focus on delivering the PolkaBased Protocol on Ethereum. However, we are always keeping track of other blockchain developments.

Andrés M. | Satoshi Club: How do you solve that temporary issue? how you faced the high gas?

Julian | PolkaBased Official: The gas fee issue is up to Vitalik 😉. There are no gas involved in rebases to and from your wallet.

Gold Rocket | Satoshi Club: Please tell us a little about your team. How many people and what are their responsibilities? @PolkaBased

Julian | PolkaBased Official: We have a team 3 core members. I’m a Co-founder and responsible for Finance and PR. Henry is also Co-founder and is responsible for Development and Operations. Maya support is an ambassador and responsible for marketing.

Gold Rocket | Satoshi Club: Not a very big but friendly company! 😊😉

Andrés M. | Satoshi Club: Are you looking for new members?

Julian | PolkaBased Official: We are always searching for good future team members. Team expansion is on our roadmap.

Q2 from Telegram User @wormz28

Keeping digital assets secure is essential to maintain value for the community, that’s why you created Liquidity Locking to prevent rug pulling right? So may we ask what’s your liquidity locking process and how can you say and believe that this gives community members more confidence in PolkaBased Protocol? Also why you chose TrustSwap to lock liquidity and can you explain why your current minimum lockup period is 6 months?

Julian | PolkaBased Official: Liquidity will be locked directly after the IDO in a Trustswap non-custodial, time-released contract. Trustswap contracts are very secure and transparent for everyone. The 6 months minimum lockup is because of the Uniswap v3 upgrade. Once Uniswap v3 is launched, it might be a good step to migrate to Uniswap v3. Liquidity locking and transparency will give community members peace of mind and confidence.

Gold Rocket | Satoshi Club: Sounds good 😊

Julian | PolkaBased Official: Thank you.

Andrés M. | Satoshi Club: That’s true, transparency is one of the features that users are looking most, so are you preparing an audit to increase the user confidence?

Julian | PolkaBased Official: The POB token is a upgradeable erc-20 token that uses the readily available openzeppelin smart contracts. The rest of the smart contracts like the monetary police, orchestrator and Oracle will be fully audited before deployment.

Andrés M. | Satoshi Club: Thank you so much for the info, we will be waiting for more news about that topic😃

Julian | PolkaBased Official: You´re welcome.

Q3 from Telegram User @yellowchamp

PolkaBased launched an Airdrop and Referral Program but there is not much information about it in your website. So can you tell us more about the Airdrop and Referral Program in PolkaBased?Can you explain it’s reward mechanicsm and structure? How does this Airdrop and Referral Program bring impacts to PolkaBased network? Thank you

Julian | PolkaBased Official: The Airdrop and Referral Program is an incentive to build a community and spread awareness about PolkaBased Protocol. We have an Airdrop/Referral Bot in place to guide you through all the steps.

Andrés M. | Satoshi Club: Could you share with us the details about how to join?Maybe an announcement 🤔

Julian | PolkaBased Official: The Airdrop/Referral Program is already live, you can find more details in the PolkaBased telegram group or channel.

Andrés M. | Satoshi Club:  Sure, community please go to Polkabased group to know more about this airdrop https://t.me/PolkaBasedOfficial

Julian | PolkaBased Official: Thank you.

Andrés M. | Satoshi Club: Btw, could you tell us where is PolkaBased based? 😁 I mean, what country are you working from?

Julian | PolkaBased Official: Yes of course, we are located in Belgium.

Andrés M. | Satoshi Club: Great, so are you priorizing Europe as your main public?

Julian | PolkaBased Official: No, crypto currency is globally 😄

Andrés M. | Satoshi Club: Of course haha 😅

Q4 from Telegram User @Rosane1a8

Polkabased is the first protocol with a token pegged to Polkadot’s fully diluted market cap, though it is innovative in Polkadot, this design has been used already, to different market caps, with different options of rebased deflationary tokens,  what made you thinkk POB was necessary, why is Polkadot the best to thiss type of coins? Is it a better investment to buy POB than any other with similar design?

Julian | PolkaBased Official: The strength of PolkaBased lies in being pegged to Polkadot´s fully diluted market, no basket of tokens. This will give token holders the benefit of speculation on the Polkadot price while remaining in the trusted Ethereum space. We are also different in having a 3% transfer fee on the network. This will incentivize users to not sell. The transfer fees will be send to liquid program and will keep it healthy.

Gold Rocket | Satoshi Club: You have thought of everything well 👍

Julian | PolkaBased Official: Thanks 😃

Andrés M. | Satoshi Club: So interesting. Then can I get profit even if the Polkadot price goes down or only if it goes up?

Julian | PolkaBased Official: A positive rebase can take place even when the Polkadot price goes down.

Andrés M. | Satoshi Club: Thanks for the clarification

Q5 from Telegram User @rioliandaro

PolkaBased price oracle receives every 24 hours price information through the Chainlink DOT/USD price oracle. The PolkaBased marketcap oracle updates the total supply of Polkadot every 24 hours. Within 24 hours there will be a difference in the POB price. Does this reduced volatility reduce the attractiveness of traders? If I don’t show up on time due to this price difference, can I get other benefits when investing in POB?

Julian | PolkaBased Official: In the beginning, the rebase frequency will take place daily to ensure that we gradually move to a stable situation that benefits the entire ecosystem. These rebases should stimulate the market to correct the target price to its target equilibrium price. In the long term, for example, through the governance, the frequency can be reduced to bring even more stability. To this we add an extra incentive to our so-called Liquid Program, through which our token-holders provide liquidity for stability and further growth.

Andrés M. | Satoshi Club: An interesting concept Julian, how can you compete with projects with similar use cases? Which features make you better than your near competitors?

Julian | PolkaBased Official: The 3% transfer fee (tax) differentiates us from projects with similar use cases. This is a great incentive for token holders to not sell and the collected fees will be distributed to liquidity providers through our Liquid Program.

Andrés M. | Satoshi Club: Do you have any pool to stake tokens?

Julian | PolkaBased Official: You can stake liquidity pool tokens in the Liquid Program and receive rewards in return.

Andrés M. | Satoshi Club: Great, big rewards for hodlers 😁💪

Julian | PolkaBased Official: Of course!

Q6 from Telegram User @Highpee

Polkabase objectives are centred around Rebase, Liquid and Governance. For your governance model which will be done on-chain using POB token, I read that a small fee is charge before a user can use the governance platform. Why didn’t you make your governance platform free in order to encourage participation and what does it really cost? Are users also required to hold a needed amount of POB in order to initiate a proposal/participate in voting? Will the Team be willing to implement all successful proposals (since only 51% of votes is required for a proposal to PASS) even if such proposal is against the team’s core plan?

Julian | PolkaBased Official: The governance protocol will charge a fee to prevent non-functional and not relevant proposals. The fee will also make sure that dedicated community members can vote and push proposals. By applying Community Governance we believe we hold true to the original cryptocurrency ideals of decentralisation and democratisation, even if it goes against the team´s core plan.

Andrés M. | Satoshi Club: Thank you for answers Julian, let’s proceed to the second part of the AMA, “the rain of questions” 🥳

Part 2 — live questions from the Telegram community

Q1 from Telegram User @JuanSB07

Speaking of percentage (%) per transfer within Polkabased, he mentions that a transfer fee of 3% of the POB token is charged, but claims that it rewards users through the liquid. Isn’t the transfer fee a bit high (3%)? This percentage would demotivate some users. So how do you solve that problem?

Julian | PolkaBased Official: We think that the fee will incentivize users to not sell. The 3% fee is up for discussion on the Governance Protocol. We will execute the wish of our community.

Q2 from Telegram User @wonderkit

Will polkabased create your supporting telegram groups with different countries or just one official group and what does community mean for the Polkabased project?

Julian | PolkaBased Official: We are internationally minded, so we are open for this suggestion. The protocol will be fully governed by the community. So we hold the community very high!

Q3 from Telegram User @highpee

Hi Julian 🤝 POB will be launched on Ethereum network. But do you have further plans to progressively migrate to Polkadot (since you like Polkadot Market Cap) after launching on Uniswap and coexist on the two chains and will you consider other chains such as BSC which has gained a great deal of traction recently? @PolkaBased

Julian | PolkaBased Official: Ethereum is still the most robust and familiar ecosystem in crypto. For now we focus on delivering the PolkaBased Protocol on Ethereum. However, we are always keeping track of other blockchain developments.

Q4 from Telegram User @alam0420

@PolkaBased Now polkabased first steps ongoing when sceond steps start?.Have you any plans of mxc , binance, kucoin and another exchanger listed? @PolkaBased

Julian | PolkaBased Official: We have plans to list on centralized exchanges that support and elastic supply. We are still orienting, and in talks with some exchanges. More in Q2.

Q5 from Telegram User @JoxesXIII

btw may i ask you about how to do investment with PolkaBased project ? will you have public sale for your token ? what is the requirement to join in that sale ?

Julian | PolkaBased Official: We will have a Pre-sale and an IDO. The Pre-sale announcement will be shared in a couple of hours. The Whitelist is still open!

Q6 from Telegram User @MCBTrade

In what decisions POB owners can have a say in the development of the Polkabased system.

Julian | PolkaBased Official: Our smart contracts are upgradeable, so once the governance protocol is launched, the protocol will be fully governed by the community.

Q7 from Telegram User @apocan99

What are the roles of oracles in PolkaBased system?

Julian | PolkaBased Official: The trusted Chainlink DOT/USD Oracle feeds the Polkadot price to our Oracle. The mcap Oracle feeds the up to date total supply of Polkadot to our Oracle. These two values are necessary to calculate the target price.

Q8 from Telegram User @Tapesetan

I think the Polkadot network is very much the opposite of the Ethereum network which is spending a lot of fees per transaction lately.

Q: Where can we get $ POB & when can we participate in the Liquid program to get incentives from that program ..?

Julian | PolkaBased Official: $POB is not yet available on any exchange. POB will be available in our Pre-sale or IDO. The launch of our dashboard and Liquid Program will be in Q2.

Q9 from Telegram User @mobilejii

How many airdrop participants joined till now , can I still join or 1000 has reached @PolkaBased

Julian | PolkaBased Official: The Airdrop program is still active. We have not reached our maximal participants, you can still join.😉

Q10 from Telegram User @sofiaisla

What do you think about the AMA today? @PolkaBased

Julian | PolkaBased Official: I think it was a great experience. I want to thank all Satoshi Club members and moderators. I hope we can have another AMA in the future with this wonderful group! 😍

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of PolkaBased. 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:

PolkaBased: https://www.polkabased.com

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 Hoge Finance and our guest was HODLhands and Heisenberg. The AMA took place on 23 February.

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 Hoge Finance! Welcome to Satoshi Club😀

D. | Satoshi Club:
Hello everyone! 👋 Our guest – @HODLhands! Welcome to Satoshi club!

HODLhands:
I feel honored, thank you.

Mary | Satoshi Club:
Please tell us about yourself and of course about Hoge Finance 🚀

HODLhands:
So I’ve been in crypto on and off since about 2014. I thought the concept of mining was cool, and then I also liked the monetary aspect. I got in right around the time that DOGE was the most profitable thing to mine. Sadly i don’t have that early bird money, I did other stuff and didn’t put any money in till 2017, but I saw the beginnings of that community and others being built. which is really why I fell in love with hoge. Lately, it seems everybody finds whatever project and just expects the dev team to do everything. While back then everybody was actually not just willing, but basically had to put in work for things to take off. When I hopped into the HOGE telegram it was kind of nostalgic and just felt really good to see people posting links to 4chan posts, getting everyone to upvote their Reddit posts and like each other’s tweets, sharing memes, all collaborating and pushing each other to the next level.

Mary | Satoshi Club:
What is Hoge Finance? What is its main concept?

HODLhands:
The first week like everyone’s project was a rollercoaser of emotions and towards the end, we had a huge drop. That’s when I decided to take a step futher and basically just did whatever I could to help keep everything together. The main concept of HOGE is pretty simple. It’s a Deflationary, community-driven, meme-powered currency. It’s like DOGE but DeFi.

The coin has a 1% burn and a 1% redistribution so that all who hold the token in a standard ETH wallet are constantly farming the coin. Then on top of that, gaming seems to be something that we all have in common so we’re making that our focus as well.

Mary | Satoshi Club:
And even don’t have to move it anywhere?

HODLhands:
No staking, no anything, just by holding it, you’re constantly farming the buys and sells. It might not seem like a lot but since the coin is also deflationary the supply will continue to get smaller and smaller. so for those who just want to hold and forget about the tops and bottoms, they can constantly accumulate more coins that theoretically increase in value every day.

Mary | Satoshi Club:
Super! It seems very interesting! Thank you for your introduction! We have more detailed questions from our community about Hoge Finance also😉 ready for them?

HODLhands:
Yes.

D. | Satoshi Club:
Q1 from Telegram user @Karoceh
The name of HOGE is very similar to DOGE, and you also use the dog icon which is identical to the DOGE icon. Does HOGE Finance have anything to do with Doge or is it just a marketing strategy?

HODLhands:
No, we don’t have anything to do with DOGE. I guess you could say this all started with the devs just having fun making a token and some memes. Neither of them thought this would pick up the way it did completely organically. It’s definitely been a great marketing tool, and it would be a lie to say that we haven’t picked up some of DOGEs fans purely because of the similarities. But we aim to create something a bit different to make a long-term lasting impact on the crypto industry.

Mary | Satoshi Club:
How old is Hoge Finance?

HODLhands:
About 2-3 weeks.

D. | Satoshi Club:
So you decided to create a project after Elon pumped the DOGE?😉

HODLhands:
Haha, why not? Even Elon while he loves DOGE has problems with it, so why not try to create a different version, just like how most alts are essentially different versions of BTC or ETH.

Mary | Satoshi Club:
You know, we had ldoge earlier, but sadly that project failed as I know. So, for sure we need more Doges😂
Ready to proceed?

HODLhands:
Yeah, I guess I would just like to add that what really makes us different is our roadmap and our tokenomics.

D. | Satoshi Club:
Q2 from Telegram user @AmirJosh
$HOGE Total supply is 1000B. Even for a deflationary token don’t you think this is too much? Why the need to have this number of supply cause even $DOGE right now only has 128B+ circulating supply. How will you convince investors to buy and hodl $HOGE and what are the countermeasures to prevent it to become a pump and dump kind of token?

HODLhands:
1000B is a lot of tokens, but as crypto evolves and more money flows into the ecosystem, higher supply may not necessarily be a bad thing. When DOGE was new, the idea of it hitting a penny seemed like a joke. I believe bitcoin had just barely reached the billion dollar mark. But now we have multiple billion dollar marketcap projects, and so with increasing valuation, for something like HOGE that is intended to be used for microtransactions 1000B may seem like a lot while it’s new, but once we age I believe that will be the perfect amount for tipping, donating and gaming

D. | Satoshi Club:
Can you tell us about the distribution of tokens? all tokens in circulation at the moment? I’ve read that Devs of HOGE don’t have tokens, is that correct?

HODLhands:
As far as I know, they do have tokens, but they were all purchased on the market just like everyone else. There were also apparently buyers that got in before they did. But i believe what you mean is that there were none allocated specifically for them. there was no dev allocation or team fund created when they made the token.

D. | Satoshi Club:
Q3 from Telegram user @manugotsuka
⚛️ Currently, the $HOGE coin is an Ethereum based token and also will have a BSC integration, but HOGE will have its own Native network like doge coin?

HODLhands:
That is something that I’ve personally thought about but have never brought up or really seen anybody discussing yet. It’s definitely not impossible, but at this time it’s not something that we’re working on. While playing around with the idea. ive thought that maybe we could make HOGE its own 2nd layer platform or something but like I said thats just an idea, that im sure has crossed other’s minds but it’s not something we’re currently working towards.

Mary | Satoshi Club:
BSC integration is also really important, when do you plan to start it?

HODLhands:
BSC integration will happen but first wed like to focus on getting the original token listed on a centralized exchange and then building the platfom that can easily be forked to BSC.

D. | Satoshi Club:
Q4 from Telegram user @meml97
I saw that one of the things you offer is a Gaming Part within your platform, what plans do you have for it? I saw that you currently have two games, do you have plans on adding more? Will we be able to participate in this creating process, how will it be possible? Speaking of the games you already have, what happens with them? I tried to play them but they never end their loading phase, when are they going to be fully released?

HODLhands:
Oh wow, ill dm you later about your pc specs so we can hammer out whatever issues there are. As for the plans give me a second to write the response.

D. | Satoshi Club:
I’ve tried HOGE runner is a kinda tough game 😄 I’m always dying at the beginning 😄
You should try it too https://hoge.fun/runner/

HODLhands:
So essentially the gaming aspect of HOGE happened purely by chance. One of the more active members of the community made a twitch account and start livestreaming himself modding a Hoge version of Doom. Then another member of the community just offered to make the browser games, and then the same thing essentially happened for an NFT game. Which as a meme token we clearly have a lot of artists for.

So yes you will be able to contribute to the game creation process, both in the development and in the investing area. we have plans to create a platform that allows hoge holders to donate, or invest in indie games. Then we also have plans to allow you to contribute art for an NFT game, and then plan on creating some games that will allow you to use/win HOGE.

Oh and then I forgot this last part, we also have plans to help bootstrap the competitive trading arena.

D. | Satoshi Club:
Q5 from Telegram user @RamonPila25
There is a growing wave of projects that later become stakes, scams, and so on, and your project has no published external audit results or whitepaper. What would you say to the community in order to convince them of being a serious investment opportunity?
Satoshi Club always pretty strict and serious about audits in any forms😄

HODLhands:
To start I would like to invite anyone whos skeptical into the community. I can’t emphasize enough that this is a completely community-managed project. The original devs are still involved but they have 100% embraced the community takeover. That said, our telegram is full of people discussing what we’re working on and sharing results. As I mentioned above. We have one member, the one who came up with the idea behind the crowdfunding platform, who is literally livestreaming the entire creation of his game

As for the audit and other standard trust aspects, we have locked liquidity, no team wallet, and audits on the way. The original contract will be audited as will all of the contracts everything major builds on top. We just create a new landing page and were working on a new full site. There was no white paper written when the original contracts were deployed but we’ve created a comprehensive one atm, with this being the community draft right now

File: HOGE whitepaper (3).pdf

Remember that is just a draft, a full edited and comprehensive white paper will be on the way. Essentially this began as nothing more than a meme, but through that meme, a strong community was formed that has made it their goal to bring the project to new heights.

Mary | Satoshi Club:
Also, as I know your liquidity is locked with Unicrypt, right?

HODLhands:
Oh and then we also have plans for bootstrapping more liquidity but I cannot release the specifics at this time.

D. | Satoshi Club:
Q6 from Telegram user @Wormz28
I’ve read that your Roadmap is still on update and coming very very soon. So can we know in advance what products and services Hoge Finance is currently working on? Also, we want to know what’s your upcoming plans in your Q1 and Q2 within this year are worth waiting for?

HODLhands:
Currently, we’re working on the NFT minting platform that will allow you to submit art created into NFT for our game. Other than that we’re working on 2nd layer ETH solutions, as soon as the listing is 100% secured will begin allocating resources towards BSC.

By the end of Q1, we should for sure have the NFT minting platfom done as well as an exchange listing and our new method of bootstrapping extra liquidity. By end of Q2, I’d like to say we’ll have begun the serious journey into HOGE gaming.

Mary | Satoshi Club:
Good ideas! It will be NFTs will Hoges?😉

HODLhands:
For the genesis collection, we were thinking about letting users submit their own art actually.

Mary | Satoshi Club:
Ready for the live part?

HODLhands:
Apparently, there is one thing that I should have added to the last question about q2/q1. We’re currently looking at xDai as our scaling solution within the ETH ecosystem. So now im ready for the live part.

Mary | Satoshi Club:
Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Memo

In your blog of the medium, they mention that the most promising projects for 2021 have been those that use memes, but really what relationship do memes have with the Valhalla incubator? Does your project plan to eliminate memes on the blockchain? or will they adapt to them?

HODLhands:
Our plan is to adapt to them, at the moment our way of doing that is through NFT collectibles and soon a full-on TCG.

Q2 from Telegram user @ Rajashree

Why your whitepaper is not ready yet???

HODLhands:
I don’t believe the original dev’s thought that this project would be big enough to require a white paper so none was written. We could have put one together overnight essentially by copying some other white paper which is what is common in the blockchain space but we’ve opted to start from scratch and take the longer more comprehensive route. This is most beneficial because we now have new devs adding onto the HOGE ecosystem in ways that were never originally planned or thought of.

Q3 from Telegram user @ Icy

I read in your telegram that HOGE now doing donations for listing in Whitebit exchanger, may I ask is there any benefit that the donator will get? ( if there isn’t, thats ok). Btw why you do not collect funds by selling $HOGE tokens and looking for investors by private sale?

HODLhands:
This is actually a really good question, at the moment we dont have any real benefit for donation other than the great feeling you get from helping out

But soon we will have HOGE merch just like the uni-socks where the profits go directly towards the foundation, which currently is funding all of HOGES endeavors

Q4 from Telegram user @ Cengizhan Tekin

✅ You call HOGE as DeFi DOGE. But I couldn’t find a connection. It is not Doge’s project, it is not pegged to Doge price, … Is it just the name similarity, is there a technical similarity, is it liked by Elon Musk 🙂 …? Can you explain why you call that way?

HODLhands:
You’re right there is no peg to DOGE. It’s a meme token with a strong community that uses a bulldoge as its logo/mascot. What makes it DeFi is the tokenomics.

Q5 from Telegram user @ Rolex

You chose the form of project management DAO. I really liked the first community vote)) which determined the further course of development)) But do all members have the right to vote? How many billion Hoges should I have for my vote to be valid?

HODLhands:
All members have the right to vote, and we will work this into the new website. As far as how many you need, we’ve set the bar at 1 billion HOGE to start a vote because we feel that only those who have a large stake in hoge should be able to start a vote. This will prevent attacks by nefarious actors who don’t want what’s best for the HOGE ecosystem, but everybody no matter how small their wallet should be involved in the voting process.

Heisenberg:
All members can vote. We already created a snapshot page for voting. All members can vote, but to make a proposal you need to hold 1b HOGE.

Q6 from Telegram user @ Keymer

If you really mention that HOGE is totally DeFi, then why would you list your tokens on Cex exchanges? Can this elastic supply be met with% burn in Cex?

Heisenberg:
We are going after cex listing in order to avoid high gas fees issue with eth network, and for more exposure.

Q7 from Telegram user @ 🌿Crypto Flower🌿

🌼 Don’t you plan to have some kind of contest for the best MEME about your project? That would be interesting!

Heisenberg:
Actually, one of the community members already hosts a meme contest. We can do more in the future

Q8 from Telegram user @ prayoga taufik

Will you introduce new partners and clients in the near future? Are you still working?

Heisenberg:
We will, and yes we are still working.

Q9 from Telegram user @ Tuvalunia

When can we buy your token from CEXs?

Heisenberg:
We are in the middle of negotiating with a cex now.

Q10 from Telegram user @ Berta

Currently what is trending are NFTs, so do you have plans to implement them in your project?

Heisenberg:
Yes, this is in our roadmap.

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/hogefinance
WebSite – https://hoge.fun/runner/

We are pleased to announce our next AMA on February 28th 2021 at 02:00 PM UTC Time: Satoshi Club x Polkacity

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Polkacity 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. Polkacity Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Polkacity

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

PART 1. Introduction of Oddz heder project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project called Oddz.

Oddz is the Multi-chain options trading platform on Binance Smart Chain, Polkadot & Ethereum.

Offers a seamless on-chain option trading solution with an in-built Oracle solution. Enabling users to trade customized options with rewards.

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Luis Merino 🇪🇸 | Satoshi Club – @LuisMe7 and Gold Rocket | Satoshi Club – @GoldRocket27

The Representative of the project:

Shreedhar Shreenivasa – @shreedhar_shreenivasa

Introduction of Oddz project.

Luis merino 🇪🇸 | satoshi club:

Hello everyone and welcome to another ama with the Satoshi club. Second one today… Our guest today is from ODDZ  finance. @shreedhar_shreenivasa welcome 😊

Shreedhar shreenivasa:

Thanks, @luisme7 for the welcome. Happy to be here and answer all the questions that the community will have 😊

Gold rocket | satoshi club:

Hello, dear satoshi clubbers! Welcome to satoshi club @shreedhar_shreenivasa😊

Shreedhar shreenivasa:

Thanks, @goldrocket27

Luis merino 🇪🇸 | satoshi club:

Glad to hear that you are happy because a lot of great questions are coming… 😉

Shreedhar shreenivasa:

Looking forward to it 😀

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 &  Oddz😊

Shreedhar shreenivasa:

I have worked for a few tech startups in Bangalore and the san Francisco bay area since 2011. In 2017, i was introduced to blockchain technologies by one of my friends and proposed an idea of using blockchain for e-commerce supply chains. Later since 2019, and my co-founder has traded in the stock market as well as for cryptocurrencies.

In late 2019 and early 2020, we were thinking of building an one-stop solution for all the derivatives for crypto and did extensive research around the same.

Gold rocket | satoshi club:

Good background!👍

Shreedhar shreenivasa:

We wanted to be a Robinhood for cryptocurrencies and that’s how ODDZ  started.

Luis merino 🇪🇸 | satoshi club:

Sounds great! Thank you for the introduction 😊

Luis merino 🇪🇸 | satoshi club:

So, are you ready to start with community questions? 😉

Gold rocket | satoshi club:

Shreedhar shreenivasa:

Yes, keep them coming my way. I will try my best to answer all of them 😄

Preselected questions about the Oddz DeFi project.

Gold rocket | satoshi club:

Q1 from telegram user @borysfireball

ODDZ  offers a seamless on-chain option trading solution with an in-built oracle solution. That’s great, but according to your roadmap your trading platform will go live in 1q and ODDZ  oracle launch will be in q2. So, what oracles will you use from the beginning? Or maybe it means that we won’t get full services from the start?

Shreedhar shreenivasa:

We are partnering with some of the top on-chain data providers in the beginning. Due to the nature of derivatives, it’s very essential to have an oracle that can provide the on-chain data if any existing oracle cannot. Obviously, building oracles takes a lot of time and all the security measures need to take.

So long story short: in the q1, when we launch our mainnet, we will have at least 3 existing oracles partnered with Oddz. More details on this will be announced soon.

Gold rocket | satoshi club:

Don’t forget to share with satoshi clubbers👍

Luis merino 🇪🇸 | satoshi club:

Maybe you can give us a hint? Satoshi club love hints 😄

Shreedhar shreenivasa:

Sure. We will definitely want the satoshi clubbers to be up to date with all the information about ODDZ  protocol. Don’t forget to join https://t.me/oddz_finance for timely updates 😀

Gold rocket | satoshi club:

Join satoshi clubbers🚀🚀🚀 @shreedhar_shreenivasa tell us a little about your team. How many people do you have, what do they do?

Shreedhar shreenivasa:

We have about 10 people working on product development, business development, and our marketing efforts. 5 people are working on protocol and user experience development and the rest of them working on product design and marketing.

Gold rocket | satoshi club:

Are they remote workers or do they go to the office?

Shreedhar shreenivasa:

All the team details can be found on our landing page: https://oddz.fi/

All of them are full-time and only a couple of folks are working remotely due to the pandemic restrictions

Gold rocket | satoshi club:

Thank you so much! You have a very informative website👍😊

Ready to move on to the next question? Or do you want to add something?

Shreedhar shreenivasa:

Yes, we can move on to the next question unless you have anything to know about our team 😄

Gold rocket | satoshi club:

Q2 from telegram user @yellowchamp

As written on your website that you will enable users to trade customized options with rewards. My question is that how does the trading customized options works in ODDZ  finance? How does reward be given and what kind of reward be will the traders get? Can you share what are the risk and pros?

And cons that it will bring to traders in using customized trade options? Thank you

Shreedhar shreenivasa:

We use machine learning and data analysis to recommend users easy options where users can buy pre-customized options based on the market condition. On top of this, if any user wants to choose their options strategies, they can do so in our customize section.

Gold rocket | satoshi club:

How big are the risks?

Shreedhar shreenivasa:

There will be a section for users to decide what level of risk they are willing to take.

Usually, some portion of the settlement fee we collect from our options traders will be used to compensate the gas fee for our options traders

Luis merino 🇪🇸 | satoshi club:

Great method!

Gold rocket | satoshi club:

Not bad 😉

Luis merino 🇪🇸 | satoshi club:

When will that be available?

Shreedhar shreenivasa:

We have our testnet slated to be launched soon and we will keep you posted on this.

Users who are not willing to take risks can select options strategies that will have minimal risk and at the same time, rewards will also be minimal.

Luis merino 🇪🇸 | satoshi club:

That’s logical, the higher the risk, the higher the rewards.

About the testnet, is it going to be a public or a private one?

Shreedhar shreenivasa:

It’s gonna be public

And there will be very good rewards for these test net users

Based on the leadership position, all the testnet participants will get rewards

Once we have our smart contract audits and other security measures, we will launch the mainnet

Luis merino 🇪🇸 | satoshi club:

Really looking forward to it 👀🥰

Shreedhar shreenivasa:

Sure. We made very good progress in terms of protocol smart contracts and testing them on various blockchains

We are close to submitting our protocol smart contracts for auditing and we made some strategic partnerships (details on this front will be shared soon)

We will have our alpha launch and the soon and will be announced in our ann group very soon

Shreedhar shreenivasa:

So to be precise, our roadmap for Q1 is:

1. Alpha launch & TGE
2. Trading platform launch
3. Liquidity mining
4. Staking

Gold rocket | satoshi club:

We will be very glad to hear about this in your updates!👍 In the first quarter of this year, based on the roadmap. By the way, share your roadmap with our community.

Shreedhar shreenivasa:

Q2-2021

Integration with Polkadot network

• ODDZ  oracle launch
• ODDZ  options on wallet Dapps
• ODDZ  futures platform

A more detailed roadmap will be shared with the community and will be updated on the website too

Luis merino 🇪🇸 | satoshi club:

Huge things yet to come 💪🏼

Gold rocket | satoshi club:

If you’re ready we have a very interesting next question.😉

Shreedhar shreenivasa:

Sure.

Gold rocket | satoshi club:

Q3 from telegram user @auguss7

Could you really give us more details and characteristics of the conditional tokens? Any user can create a token for any purpose for the sole reason that it is of a certain time? Or are there more limitations?

Shreedhar shreenivasa:

Nope, there has to be a definite outcome within a given timeframe, and the source for the outcome

Gold rocket | satoshi club:

Clarify this a bit, please …

Shreedhar shreenivasa:

ODDZ  will have an interface for our community users who also hold ODDZ  tokens to create these conditional tokens. While creating these, there has to be a source for the outcome and timelines for the same.

Technically conditional tokens can be created for any events that will have a definite outcome that is bound to the time, I am sure all of you have heard of yes trump and no-trump tokens 😄

Luis merino 🇪🇸 | satoshi club:

I haven’t 😳

Gold rocket | satoshi club:

I didn’t hear either 🙈

Luis merino 🇪🇸 | satoshi club:

But I can imagine, they were created during the American elections, right? 😄

Shreedhar shreenivasa:

True. Haha, you should explore conditional tokens on the ODDZ platform then 😄

Luis merino 🇪🇸 | satoshi club:

Sounds interesting 👀 Do you want to add something? Or can we jump to the next question? 😉

Shreedhar shreenivasa:

A more detailed sneak peek of the UX for options, conditional tokens, and perpetual will be updated soon.

We can move to the next question

Gold rocket | satoshi club:

Q4 from telegram user @juansb07

On its website it says that there are 2 ways to earn on oddz, the first is to lock your assets in the ODDZ  liquidity pool and the second is to bet ODDZ  tokens. What is the total return that these 2 options generate for users? Are you really making good profits with Oddz?

Shreedhar shreenivasa:

Yes, Let me give some insights on how options work. When the call or put option is created, there has to be an underlying asset locked. Usually, there will be a user who creates options and then another user can buy. But with ODDZ  there will be an AMM pool from which we lock the underlying asset.

All the users who provide liquidity into the pool will get 100% share of the option premium fee. Along with the option premium fee, we collect a settlement fee to reward users who stake the lp tokens, OUSD token that LPS get when they lock the USDC.

Some portion of this settlement fee will be used to compensate the gas fee and the rest will be distributed as rewards. More details on the AMMpool can be found here: 

Now on the other side, users who want trade options using ODDZ  tokens will get a discount on the settlement fee.

Gold rocket | satoshi club:

Excellent detailed answer! Thank you so much!

Luis merino 🇪🇸 | satoshi club:

Sounds really good! Ready for Q5 now? 👍

Shreedhar shreenivasa:

Yes, let’s go for it.

Gold rocket | satoshi club:

Q5 from telegram user @jesusfre1tes

What trading solutions has ODDZ created to streamline the execution of put and call options, conditional trades, and futures contracts? How have you unlocked the potential of decentralized derivatives markets? How do these solutions help drive the DeFi ecosystem and simplify derivatives trading, in turn improving the user experience?

Shreedhar shreenivasa:

So far, we have been focusing on options for eth and WBTC. As we work on implied volatility and the availability of these on-chain feeds, we will add support for more cryptocurrencies.

As I mentioned earlier, we are putting a lot of emphasis on the user experience at the same time enabling users to explore more derivatives in one place

If you see Robinhood, the user experience and quality of the educational content are really good that enables new users to explore stocks and options trading.

Gold rocket | satoshi club:

What trading pairs are you planning to add?

Shreedhar shreenivasa:

Customized options based on the ml and data analysis along with an ability to let users to chose their own strategy will drive the DeFi ecosystem and should simplify derivatives trading.

Our smart contracts are constructed in such a way that, options for any tokens can be added based on the availability of the iv feeds. We will be starting with eth and WBTC.

Luis merino 🇪🇸 | satoshi club:

Most used ones 😄

Gold rocket | satoshi club:

Everything is clear to me😊👍

Shreedhar shreenivasa:

We will continue to add support for more cryptocurrencies as soon as we get iv feeds from our data provider partners

Luis merino 🇪🇸 | satoshi club:

Who are your data providers?

Shreedhar shreenivasa:

I can only say we are working with top oracle data providers as we want to announce the partnership with them. Until then, we cannot really reveal the names 😄

Luis merino 🇪🇸 | satoshi club:

When will you reveal them? 😉

Shreedhar shreenivasa:

Soon, in the next couple of weeks for sure. We have a lot of announcements lined up

Luis merino 🇪🇸 | satoshi club:

Looking forward to all of them 😊

Shreedhar shreenivasa:

Sure, please subscribe to our ann channel for more details: https://t.me/oddz_fi_announcements

Luis merino 🇪🇸 | satoshi club:

Ready for the last question of the first part?

Shreedhar shreenivasa:

Yep

Gold rocket | satoshi club:

Q6 from telegram user @highpee

You have identified high gas as a limitation of seamless and flexible derivative trades on Ethereum and you will be introducing a zero gas fee transaction in order to drive wide adoption. This sounds enticing and I want to know which cutting-edge technological solutions you will be introducing to eradicate this limitation without resulting in network latency? What smart features will this solution have and how will it be executed without trading off efficiency and security since some solutions in this regard require the use of a third-party relayer network which may raise security concerns?

Shreedhar shreenivasa:

It’s a great question actually, I would like to answer this in two parts.

We have layer-2 technologies for optimizing the transaction latency and so far our testing with layer 2 integration and relayer networks has been really good.

As for the security is concerned, we have carefully reviewed the audits and other security measures that these layer-2 and relayers have taken. Now the coming to the second part: gas fee and execution latency on Binance smart chains is really less

So users will have an option to trade options on both Ethereum and Binance smart chain. We are eagerly waiting for Polkadot as much as others and hopefully, that will enable us to execute cross-chain transactions

But thanks for asking this question, it’s really a great one 😄

Gold rocket | satoshi club:

Thank you very much for your answers! You were very informative! Want to share useful links with our community?

Shreedhar shreenivasa:

Sure. Here are the details on our community, project, and social pages. Subscribe to these for timely updates.

Website: | Twitter:  |  Telegram chats:  | Telegram announcements:   |  Lite paper:  | Medium: 

We have some exciting news coming in the next few days.

Luis merino 🇪🇸 | satoshi club:

Ready for a huge rain of questions for part 2?

Shreedhar shreenivasa:

Sure

PART 2.Questions about the Oddz 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 Oddz 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 @meml97

  On your roadmap it caught my attention that you have something called “Alpha launch & TGE” for Q1 2021, could you tell us more about what is this TGE, and this Alpha launch and when will be released? Speaking of this Alpha, if I want to participate in it, will I be able to? How can I help the Oddz platform?

Shreedhar Shreenivasa:

Yes, We will have our token launch in Q1 along with the alpha launch. all the testnet participants will be rewarded with ODDZ tokens. An announcement on the exact date will be made very soon. As I mentioned earlier, we have a lot of announcements lined up in the next few days.

Q – 2 from a telegram user @KASG95

You mention that “Oddz Oracle is specially designed for derivatives market sources”, but is that the most important function for Oddz? Or just start prara derivatives and little by little anger perfecting in the other functions? 

Shreedhar Shreenivasa:

 would say oracle for derivatives is one of the USPs for Oddz. We have many more USPs along with its an inbuilt oracle.

Q – 3 from a telegram user @cengizhantekin

Which chains are supported by Oddz currently and already planned for the future?

Shreedhar Shreenivasa:

We will launch our mainnet on Binance smart chain, Ethereum, and Heco chain. We aim to integrate with any chain that is close to the EVM

Q – 4 from a telegram user @warny

What sort of incentives have you introduced to incentivize liquidity providers for infusing liquidity into the Oddz Liquidity Pool?

Shreedhar Shreenivasa:

100% distribution of Premium fee along with Some share in the settlement should encourage users to put more liquidity into our pools. We are working on hedging these LPs from sudden market movements. We have also constructed a USD pegged stable coin based pool that should reduce the impermanent loss

Q – 5 from a telegram user @Joseunda

What are the benefits of being able to support the 3 most important blockchains for DeFi today?, Ethereum, Binance Smart Chain, and Polkadot?

Shreedhar Shreenivasa:

As I mentioned in my earlier answer, we aim to integrate with any chains that is close to EVM and Ethereum, BSC, Polkadot, and Heco chain are something we are already testing our protocol with. Reducing user friction is the main reason behind it.

Q – 6 from a telegram user @JoanaZ

The options trading is one of the more risky types of trading that exists, so considering that you maybe will have newbies users, will you create tutorials or guide that explains how operate with it?

Shreedhar Shreenivasa:

Yes, we are working on our bringing more quality content for encouraging users to try our easy options. once they experience with options trading, they can start trading more option strategies

Q – 7 from a telegram user @Antoni_azx

What are the advantages of having an in-built Oracle? How did you create it and how is it better than the conventional extern oracle services?

Shreedhar Shreenivasa:

Any requests for the new data feeds are bound to the time and security audits. getting them prioritized with the existing oracles may hamper our product road map and that is the reason we are investing in providing the IV feeds for more tokens through our in-build oracle. now the conditional tokens also need the data to be served from the specific source within the timeframe.

Q – 8 from a telegram user @asalas95

Yes, user needs to own ODDZ tokens and more details on this will be shared soon. now coming to the events, we will be starting with questions/events that are specific to block chain and crypto currencies. support for more events will be added as we move further?

Shreedhar Shreenivasa:

Q – 9 from a telegram user @AmirJosh

What are the benefits of holding Oddz tokens? Can we earn part of the platform’s earnings when holding $Oddz or the farming and staking are only ways to earn with it?

Shreedhar Shreenivasa:

Yes, there will be multiple staking programs that will be announced soon. in order to enjoy a discount in settlement fee for trading options, users can trade with ODDZ tokens. we will also reward users who refer their friends and family to explore oddz trading platform

Q -10 from a telegram user @Korryl

I read that Oddz Finance has Liquidity Pool under the AMM model, but what makes it different
from another similar project? how does Oddz Finance
Liquidity Pool works to gain profit, is there any penalty if the user withdrawal from your liquidity pool?

Shreedhar Shreenivasa:

We are USDC based AMM pool to reduce the market risk and we dont penalize the LPs who wish to leave the Pool earlier but if the user is in the profits and wants to leave the pool within 14 days, their profit will be distributed to other LPs in the pool. this should encourage users to stay longer in the pool,.
along with this, we are working on hedging these LPs from unexpected market movements.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the Oddz 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: Oddz

Website: | Twitter:  |  Telegram chats:  | Telegram announcements:   |  Lite paper:  | Medium:  

We are pleased to announce our next AMA on February 7th 2021 at 02:00 PM UTC Time: Satoshi Club x McDonaldsCoin MCDC

⚠️Click to see the hour
⚠️Total Reward pool: $1000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join McDonaldsCoin MCDC 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. McDonaldsCoin MCDC Team will select 10 questions and answer them.

Part 3: 800$ – A quiz about McDonaldsCoin MCDC

For more details:
McDonaldsCoin MCDC – @McDonaldsCoinHQ
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on March 27th 2021 at 05:00 PM UTC Time: Satoshi Club x BiTToken.Club

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join BiTToken.Club 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. BiTToken.Club Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about BiTToken.Club

For more details:
BiTToken.Club – @Bittoken_Project
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on February 5th, 2021 at 03:00 PM UTC Time: Satoshi Club x Bosagora

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Bosagora 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. Bosagora Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Bosagora

For more details:
Bosagora – @bpf_eng
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on March 10th, 2021 at 05:00 PM UTC Time: Satoshi Club x DexKit

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join DexKit 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. DexKit Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about DexKit

For more details:
DexKit – @dexkit
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on March 2nd, 2021 at 04:30 PM UTC Time: Satoshi Club x Dero Project

⚠️Click to see the hour
⚠️Total Reward pool: 250 DERO

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Dero Project Telegram group

We will have the following structure:

Part 1: 40 DERO /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: 40 DERO/10 users – Open chat for 120 seconds. You can post Max 3 questions. Dero Project Team will select 10 questions and answer them.

Part 3: 170 DERO – A quiz about Dero Project

For more details:
Dero Project – @DeroProjectGroup
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

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 FoxSwap and our guest was Eric – @Eric_FoxSwap, Co-Founder of Foxswap. The AMA took place on 21 February.

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

Gold Rocket | Satoshi Club:
We are pleased to announce our AMA with FoxSwap
Today our guest is @Eric_FoxSwap!🦊

Luis Merino 🇪🇸 | Satoshi Club:
Hello everyone and welcome to our second AMA today :))

Eric | FoxSwap:
Hello everyone.

Luis Merino 🇪🇸 | Satoshi Club:
Our guest is @Eric_FoxSwap, welcome! 😊

Eric | FoxSwap:
Nice to meet you here. I’m Eric (Co-Founder of Foxswap).

Gold Rocket | Satoshi Club:
Welcome to Satoshi Club @Eric_FoxSwap🦊😀

Luis Merino 🇪🇸 | Satoshi Club:
Hello Eric! How are you today?

Eric | FoxSwap:
A great weekend. I’m ready to answer questions from everyone ✌️

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 & FoxSwap?🦊
There will be a lot of questions! Satoshi Clubbers are very curious guys 😁

Eric | FoxSwap:
I majored in information technology in the US. Here we are directed to the research of Blockchain. So I joined the Crypto market very early.

About Foxswap: Surely the craze you all know about DeFi fever, right? DeFi is growing very fast and strong. Demand for community use on decentralized exchanges is growing. But there are some issues going on as a constraint: too high transaction fees, high slippage, and low liquidity. Understanding the above problem, I worked with my friend Brian Chen to find the answer to be able to solve it.
Done.
Thank you ✌️

Gold Rocket | Satoshi Club:
Thank you very much for the answer! Ready to jump into community questions?

Luis Merino 🇪🇸 | Satoshi Club:
Great background!
Sounds really good Eric! 👏

Eric | FoxSwap:
Next question.

Gold Rocket | Satoshi Club:
Q1 from Telegram User @Highpee
You have said that FoxSwap which is a DEX aggregator on Ethereum is designed to scale transactions with reduced fees. Uniswap, SushiSwap, 1inch, and other DEXes on Ethereum which offer similar services have been unable to provide solutions to the problem of high gas affecting the Ethereum blockchain. How will you solve this since Ethereum will still be needed to power FoxSwap activities? Also, if all the orders are not executed individually but are aggregated before they executed, how scalable or fast will this be? Won’t this result in unwanted delays before transactions are executed?

Eric | FoxSwap:
Thanks @Highpee.

• Current decentralized exchanges mostly use the layer 1 scale. Foxswap uses layer 2 protocol.

When Foxswap aggregates from other trading platforms, the LPs will be very large, users will avoid problems such as high slippage, low liquidity.

Foxswap’s system will process transactions instantly, there will be no lag. Much of it depends solely on the TPs of Blockchain Ethereum.
Done.

Gold Rocket | Satoshi Club:
Q2 from Telegram User @Xusuo
After reading your site, I learn that you have a unique feature name “Secondary MArket” that possibly makes the loans tokenized into NFT Tokens and possibly allowed to be traded on other Dex exchanges.
can you explain more about this, what is the use of NFT token besides traded on Dex Exchanges?
Do you have any other features regarding NFT?

Eric | FoxSwap:
Secondary Market: Loans, and are all tokenized via Non-Fungible Tokens (NFT) that allow the trade, creation of secondary markets. This means that the loans will be tokenized into NFT Tokens and possibly allowed to be traded on other Dex exchanges.

Non-fungible tokens (NFT) allow non-fungible tokens to be easily moved between ecosystems. These NFTs are instantly visible to the various wallet providers, traded on the marketplace, and most recently available on emulator worlds.

Non-fungible tokens are based on blockchain, features of the NFT: Standardized, Interactive ability, Trade ability, Liquidity, Programming ability, combined on-chain and off-chain.
Done.

Luis Merino 🇪🇸 | Satoshi Club:
I have an offtopic question, when was Fox Swap created?

Eric | FoxSwap:
This is a fairly new concept, it is mainly about technology. Everyone needs experience to better understand.
You can refer to our roadmap on the official website: https://foxswap.exchange/
Foxswap was created from Q2 – 2020.

Luis Merino 🇪🇸 | Satoshi Club:
Do you want to jump to Q3?

Eric | FoxSwap:
Great.

Gold Rocket | Satoshi Club:
Q3 from Telegram User @konditer_rolex
In the roadmap, you mention the addition of Synthetic assets and derivatives. What is the reason for such innovations?

Eric | FoxSwap:
You can see DeFi is really booming, but it’s just the beginning.

Synthetic Asset – Unlimited potential:

• Authorization-free Initialization: Public blockchains like Ethereum give anyone in the world the ability to build their own synthetic asset system.
• Easy access and transferable: Synthetic Asset is freely transferable and tradable.
• Global liquidity pool: Blockchains are inherently global, anyone in the world can participate.
• No 3rd party risk: There is no centralized 3rd party that has the privilege of controlling blockchain as well as synthetic assets.

Derivative’s secret is leverage:

• Leverage helps derivatives, or futures, become more attractive to investors. In addition, derivative tools are used for hedging purposes. Specifically, when the investor wants to protect himself from price fluctuations.

Everything attracts large numbers of investors. That’s why we’ll be launching these extensive features on Foxswap.
Done.

Gold Rocket | Satoshi Club:
I read about your partnership with Pantera ICO. Please tell us a little about it!

Eric | FoxSwap:
This is a large and most famous community in Korea. You can see more information about the partnership between Foxswap and Pantera ICO: https://medium.com/@foxswap/foxswap-defi-partners-with-ico-pantera-koreas-leading-growth-accelerator-d3941d784040
TG: https://t.me/panteragroup

Gold Rocket | Satoshi Club:
How will it benefit your users?

Eric | FoxSwap:
They will help many investors in Korea get to know Foxswap. Furthermore, Pantera has a lot of partners that are major exchanges, they can also help us connect with these exchanges easily.
Next question 👀

Gold Rocket | Satoshi Club:
Q4 from Telegram User @rhedd
“Staking is one of the great features of one projects or platform to earn without losing our funds”. Almost all the new project built today has Staking Program. What can we expect about your staking program and what staking options are available in the FoxSwap platform? How many pools does your platform have for the users and investors to participate?

Eric | FoxSwap:
Foxswap launched the testnet in early January. Coming up the mainnet launch, options will be available for everyone to join. There are currently no options available.
If you are interested, please follow us, everything will be complete after the public sale is completed.
Done.

Luis Merino 🇪🇸 | Satoshi Club:
How big is your team? And, do you work remotely or have an office?

Eric | FoxSwap:
All members are experienced. You can view the information on the official website and scroll down to the “Founders & Team” section.

Gold Rocket | Satoshi Club:
There are a lot of giveaways and airdrops on your Twitter. Is there anything we can join now?

Eric | FoxSwap:
We work together in the office. It is 1:23 am now in my country of work, but I still try to answer everyone’s questions.
https://twitter.com/foxswap_defi/status/1359051242719252482
It will end in 24 hours.

Gold Rocket | Satoshi Club:
Q5 from Telegram User @Gutike95
I have heard many of the benefits of the Layer 2 Protocol, but really very few platforms implement it in their projects, is it because it is not compatible with all? Is it have a big problem or is it that they do not know their potential yet? could you explain it to us?

Eric | FoxSwap:
The Layer 2 protocol is quite easy to adapt, but not all projects can do it. Layer 2 is very potential, because of the benefits it brings, there is not a big problem stemming from Layer 2. We see the future of Layer 2 protocol and implemented it. And we’ll all see a lot of decentralized exchanges that will use the layer 2 protocol.
About how it works you can see this picture. It is not directly linked from “Buy order” and “Sell order”. Need to adopt another protocol, here is Foxswap.
Done.

Gold Rocket | Satoshi Club:
Thank you very much for the answer! Ready to proceed to the next question?

Eric | FoxSwap:
Yes.

Gold Rocket | Satoshi Club:
Q6 from Telegram User @lzamg
FoxSwap gives the possibility to Dapps and wallets of earning FOX when they attract users and trading volume to the platform. Can you tell us what is based on the amount of FOX earned by referrers? Is there a limit of earnings per referrer?

Eric | FoxSwap:
When you use Foxswap, you will be given a referral code. This referral code is your wallet address. When someone uses your referral code and transacts on Foxswap, you will earn FOX tokens. Earning rate will depend on the amount of FOX held by traders, and on their trading volume. There will be no limit for referrers, the more referrals you get, the more FOX you get.
Done.

Gold Rocket | Satoshi Club:
Great answer! If you don’t mind, we can now move on to the second part of our AMA.

Eric | FoxSwap:
Sure.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Memo

You say that “FoxSwap will have features that will help you operate more effectively”, but could you detail each one of them, and tell us which ones make the difference with respect to the competition? Please!

Eric | FoxSwap:
1. The big other biggest of Foxswap is the combination of DEX Aggregator and Layer 2 protocol. There is not any delivery as any doing this thing.
Some of the basic features of Foxswap:

Swap Tokens
Oracles
Loans
Secondary markets.

Q2 from Telegram user @ Gutierrez04

Both Uniswap and SushiSwap have had reliability and security problems, since many users have been scammed in it with scam tokens, how could Foxswap be more reliable and secure than them? limit the tokens they list?

Eric | FoxSwap:
2. We are not limited to the tokens listed. But we have a team that is constantly working on listings. All tokens that are counterfeit or with our namesake will have warnings to users. Especially if the token is confirmed we will mark it up to make it easier for users to recognize. This reduces a large amount of fake tokens on the platform and is really useful.

Q3 from Telegram user @ Al

About FoxSwap’s roadmap in Q3 Coming up, can you tell me a bit what plans you have?🦊

Eric | FoxSwap:

1. We will always update and make changes to adapt. But for sure there will be Foxstarter, the IDO platform that incubates projects.

Q4 from Telegram user @ Диего | Diego | ディエゴ | Satoshi Club | BCCore
Currently fox swap has some kind of contest? Of memes or any other activity in which the users of your community can participate?

Eric | FoxSwap:

1. We have 2 contests.
2. The meme contest.
3. Contest on our publication redesign.

You can see more details here: https://twitter.com/foxswap_defi/status/1359051242719252482

Q5 from Telegram user @ Humberto

It is in your roadmap the launching of the FoxSwap app on this first quarter of 2021. How will be integrated the $FOX token on this app and what will be the advantages of using it for making transactions?

Eric | FoxSwap:
5. There will be a lot of benefits to holding $ FOX tokens.

More details can see at the whitepaper: https://foxswap.exchange/resources/docs.pdf

Q6 from Telegram user @ Khalee

When is the public sale of the $FOX token? Is it ongoing or still in plan? Please tell us more about your token public sale?

Eric | FoxSwap:
6. Information on the public sale will be announced tomorrow. But I can reveal that the public sale will be distributed in 2 rounds.

Round 1: 20% of the allocation will be a whitelist and randomly selected eligible participants.
Round 2: 80% will be IDO.

Q7 from Telegram user @ ★Vmoon★

Will only allow ERC-20 tokens? Do you have plans to implement other types of tokens like TRC-20?

Eric | FoxSwap:
7. We will always make changes to adapt to the market. In the short term, our choice is to solve the problems on the Erc20. BEP20, TRC20, SPL, etc will be integrated in the future.

Q8 from Telegram user @ 교수의 노예

Was FoxSwap infrastructure audited?

Eric | FoxSwap:

1. Of course, an audit is necessary, it helps to increase investor confidence. In fact, a project like ours seriously won’t let negative situations happen. But auditing is really indispensable, we will audit at a large company before the beta release.

Q9 from Telegram user @ Jacob

The FoxSwap Founders/team are public and it is great to see a DeFi project team like yours. But may I ask why reveal your identities when you can be like other projects that remain anon till now?

Eric | FoxSwap:
9. We value our customers. When using, the user needs to know which members created the platform, it is inevitable. Furthermore, we are a real project, with no reason to remain anonymous. Going public will help people have a more sympathetic look.

Q10 from Telegram user @ Ana Manzano

FoxSwap recently partnered with ICO Pantera, but was this partnership to attract more Korean users or to improve the speed of each transaction on their platform?

Eric | FoxSwap:
10. Pantera Group works with us in many roles, not simply marketing. In addition, Pantera Group also invests in Foxswap, the head of Pantera is the marketing advisor of Foxswap. We have many more resonances in the future. This is a great community

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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Medium – https://medium.com/@foxswap
WebSite – https://foxswap.exchange/
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