Satoshi Club

PART 1. Introduction of Uniq project and community questions.

Hello, Satoshi clubbers and guests of this site. Today we have an AMA session with a crypto project that created a truly decentralized non-profit platform owned and managed by the Digital Arts community, bringing together Artists, Creators, and Collectors as One. There are no commissions for artists, but there are awards for publishing works. There are functions like Usage Mining – collectors and creators rewarded for activity by cryptocurrency. $RARE token is part of the Unique family and gives rights to HOLDERS to get special privileges such as :

• Ability to vote on governance decisions

• Ability to vote in contests

• Ability to mine $RARE as a liquidity provider

• Share of platform fees

The plan of AMA session:

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

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club – @madamlobster and D. | Satoshi Club – @Cool_as_Ice

The Representative of the project:

Unique G: Will never DM first – admin of the Uniq Telegram group.

Introduction of Unique.one project

Gold Rocket | Satoshi Club:

Good morning friends! Let’s start our AMA marathon!

D| Satoshi Club:

Hello, Satoshi club! our AMA session today with Unique.one! @un1qu hello and welcome!

Gold Rocket | Satoshi Club:

@un1qu We are glad to welcome you to Satoshi Club!👋

Unique G: Will never DM first:

Hi everyone.

I am really glad and honored to be here with Satoshi Club members.  I have been a follower of Satoshi Club for a while now and have seen the tremendous growth achieved by the admin.  Congratulations on having a wonderful community.  Here at Unique One, we are also a community-based project and I hope to explain more about this during this session.

D| Satoshi Club:

Thank you very much for your kind words! 😊

Gold Rocket | Satoshi Club:

Thanks for joining😊

Unique G: Will never DM first:

Thank you.

Gold Rocket | Satoshi Club:

First, tell a little about yourself😊

D| Satoshi Club:

Yes, let’s start with a brief intro 😊

Unique G: Will never DM first:

I am Unique G and I am the admin for our Telegram group.  We are a group of crypto purists and we have mainly been investors but also have been involved in crypto projects in this space for several years.  We say we are purists in the sense that we abhor any involvement of corporations in this space.  The ideal crypto project should belong to the community and not by a handful of people and certainly not profit-seeking corporations.

Gold Rocket | Satoshi Club:

And also we are very interested to learn more about your project😊 A very interesting course. this is my first time hearing about purists. but I really support it 😁

Unique G: Will never DM first:

Absolutely, let me explain why we embarked on this project. We saw that most of the NFT Art marketplaces are run as a business and not as a community.  They are also charging artists and charging big platform fees.  Others are not so open to new artists and run more like a traditional art gallery.  We also have a lot of censorship and bans because the administrators of the platform feel like it and this is done without reason.  We see it is the worse combination possible, a dictatorship and a corporation.  Unique One is the purist response that a pure community-run platform can succeed.

Unique.One aspires to be a truly decentralized digital art marketplace that supports Artists instead of profiting off them.  We are non-profit seeking and have a net-zero fee policy.  We believe in supporting Artists and do not charge Artists for creating work.

The ultimate objective for Unique.One is to create a vibrant true decentralized marketplace independently operated by the Digital Art community which will offer new and professional Artists a place to socialize and push their creativity to the limits in a fair and level playing field.

Unique will be governed by a DAO for true decentralization.  In the first phase, we will gather community votes via a snapshot.  Right now, we have the ratification of the Unique One DAO Governance Proposal.  All token holders will be able to vote at governance.unique.one

Gold Rocket | Satoshi Club:

Indeed, this market just needs something like that!

D| Satoshi Club:

👍 Yeah, as I have heard, fees on the open sea for example are insane, artists get there just a small amount from their sells

Unique G: Will never DM first:

The open sea is more of an aggregator.  We are more of a marketplace for example like Raible.  The difference is that they are corporate and backed by VC and they charge heavy fees.  This fee is kept by their team.

Gold Rocket | Satoshi Club:

@un1qu Can I assume that you are also an artist?😉

D| Satoshi Club:

Got it. I just never bought anything on the open sea, yet. so it’s new info to me.

Unique G: Will never DM first:

Unique One does not charge artists.  We also have a net-zero fee.  Let me explain what that means.  When a buyer buys a digital art NFT, they are charged a 1% platform fee.  Now this fee is collected and goes towards repurchasing $rare tokens from the market.  And these tokens are redistributed back to circulating supply token holders

Unique G: Will never DM first:

ZERO.

Gold Rocket | Satoshi Club:

Sounds good👍

Unique G: Will never DM first:

So the next question is how we can achieve this?  It is simple, there is an allocation in the token model for the development and for the DAO governance.  So no one needs to take any profit.  The smart contract interaction fees is paid by the users to the network because they provide the service.  For a company to charge for this is ridiculous and unfair.

The other major problem is with the reward model.  For example on Raible, they reward based on the value of the transaction.  So this means popular artists will earn most of the tokens.  So they have a big problem with wash trading.

So their response is to ban a lot of people and deny airdrops to many parties who may be innocent.  This is amazingly unacceptable for us.  We are not saying anything bad but there is definitely space for improvement.

Gold Rocket | Satoshi Club:

I understand. We just have a question from the community on this topic.👍 If you want, we can start with this question.

Unique G: Will never DM first:

Sure.

Preselected questions about the Unique.One project.

Gold Rocket | Satoshi Club:

Q1 from Telegram user @yellowchamp

With your “Artist No-Fee policy” which stated that you don’t charge creators fees. Artists get full price for their work.I’m a little bit confused with this statement, can you explain it more? Why you are not charging creators fees? Do you have any criteria for giving a price with your Artist or it is fixed already? What kind of Artist are you recommending to join your platform?

Unique G: Will never DM first:

Traditionally, NFT platforms will charge the creator a fee for creating an NFT token.  Unique One does not charge this fee.  So there is no additional cost other than that for the interaction with the smart contract.

The other charge is when the artist sells.  On other platforms, they can charge both the buyer and seller 3.5% for example.  This means the company collects 7% in total.

Here at Unique One, we don’t charge artists for selling.  We only charge 1% platform fees for the buyer.  And as I explained earlier, this 1% goes back to the token holders.

Gold Rocket | Satoshi Club:

It’s very smart!👍 Thanks for the answer!

Unique G: Will never DM first:

As for our artwork policy, we accept all kinds of digital art.  The only thing that we do not tolerate is copying and selling other people’s work.  This is theft!  We have clearly detailed in our terms for such violations.

I think people in crypto have to understand that the reason they lose money or do not get full value is that all the value is taken by someone else.

Gold Rocket | Satoshi Club:

Strongly agree about copyright

Unique G: Will never DM first:

We want to prove that blockchain is made for disintermediation and not a tool for intermediaries to use to make money.

D| Satoshi Club:

Do you have a mechanism, how to check that it’s a copy work and not the original one?

Gold Rocket | Satoshi Club:

However, money is also important. 😊

Unique G: Will never DM first:

At the moment it is complaints based.  We will depend on the community to keep the platform in order.  This way we can keep censorship down to a minimum.  Other platforms also ban projects doing airdrops for their community.  It is extremely dangerous to play God in a decentralized world.

This is the problem.  The community wants to realize value but when the projects are greedy.  The community gets burned.

Gold Rocket | Satoshi Club:

You noticed it perfectly! Thanks for the answer! Everything is clear to me. The next question?

Unique G: Will never DM first:

Yes

Gold Rocket | Satoshi Club:

Q2 from Telegram user @Highpee

Unique.One is a permissionless decentralized NFT exchange. Of recent, Defi projects have decided to become open and permissionless in order to gain trust. However, going open and permissionless have its own risk as your codes are open and your project can be easily cloned. Also, some cloned or fork projects have also been found to perform better than the original project. How do you intend to deal with this kind of situation in order to maintain your originality and competitiveness? Are you a clone of a previous project?

Not an easy question

Unique G: Will never DM first:

Sure.  For codes, when we refer to open source, it is often the smart contract portion that is open source.  We still have to create new code for the website and interface.  We studied the rarible code and used a large part of it with the exception of a few parts and made some changes to it.  There will be a difference between us and Rarible in the sense that all our codes will be fully open-sourced.  This is the principle we live by and we hide nothing.

In terms of competitiveness, there are many improvements we can make and we are looking into such as NFT fractionalization and integration with DeFi.  Our policy here is to work with everyone and not do everything ourselves.  After all, we are a community project and have no profit agenda.

Gold Rocket | Satoshi Club:

Btw is your team anonymous or are you, public persons? how many people are on the team?

D| Satoshi Club:

And here also we have to ask our favorite question about the audit.😄 do you plan some audits?

Unique G: Will never DM first:

It is worth noting that Unique One despite being a young low cap project, will be sponsoring ETH Denver 2021 VR Art Gallery.  Super-rarre will be displaying their works there.   It is a purely digital event that lasts 24 hours for 7 days and free to the public to join.  It starts on 5th Feb 2021 and we hope everyone can join in.

Yes for the audit, we are in progress and hope to have the audit results published before our main-net launch on 28th December.  We choose this date to launch the main-net because it coincides with the Comiket in Japan which is the major anime and manga event in Japan but it will be done virtually this year.  We have very close links with Japan and Japanese projects.

D| Satoshi Club:

This is great!

Unique G: Will never DM first:

I really encourage everyone to look at our mining program and liquidity provider programs.  We have transaction mining and also volume mining.  Basically, we want to be sure not only whales can earn the tokens. In total, 60% of the tokens of the project can be earned.  And the community will own this project in its entirety.

This is our token distribution

Dev Funds – 20%

DAO Allocation – 20%

Creation Mining – 10%

Transaction Mining – 10%

Volume Mining – 10%

Contest Rewards – 10%

LP Mining – 10%

Bounties – 5%

Airdrop – 5%

Our long-term plan is to create an ecosystem of marketplaces and obviously, the $rare token holders will have some benefit when these sister projects are launched.  We are also keeping an eye on the Polkadot/Kusama ecosystem and impressed by some developments by Unique Network (no relations).

D| Satoshi Club:

Thank you! @GoldRocket27 do you have any additional questions?👀

Gold Rocket | Satoshi Club:

I wanted to clarify about the team that helps create this project😊 Thanks for this. This is really impressive.

Unique G: Will never DM first:

If you guys know anyone, even if they are traditional artists.  We have community members ready to guide them and onboard them.  We believe there is only a fraction of a possible number of artists that is on NFT platforms.

Other platforms will treat you are customers.  Here we treat everyone as members of the community, as it should be.

We are an anonymous team and choose to be for the reason that we want to move this to a DAO governance.  Once the DAO governance takes over, then the community will decide what to do when the regulations eventually arrive for DAOs.  We call ourselves the founding team and our objective is to pass the governance to the community asap.  In terms of expertise, we have veterans with more than 20 years of experience in all the key areas such as marketing, business development, software development, public relations, management, etc.  But again, the objective is to pass this on to the community.

Gold Rocket | Satoshi Club:

👏👏👏 great! Can we proceed to the next question?

Unique G: Will never DM first:

We understand choosing to be anonymous also means that people will scrutinize us.  This is why we did not go public until we have a test net.  And this is why we only list when we are sure we can deploy on main-net.  We want people to judge us by the product and experience.  Come and talk to us. Sure.

Gold Rocket | Satoshi Club:

Q3 from Telegram user @Pannicota

Hi sir

Unique.One provides for users an ability to vote on governance decisions because it’s built on DAO structures right? But It seems that many DAO project’s voting systems are being Heavily manipulated by some Large Tokens Holders (Called Whales), I said that because big holders = big powers in voting, and tokens are easy to get through exchanges. And it brings bad DAO Voting behaviors, unfair for many small investors, small holders so how will Unique.One provides the fairness / the trusted, the balanced in the DAO Voting process on Unique.One projects?

Unique G: Will never DM first:

This is a great question.  Yes, absolutely we recognize this as a major problem.  We have released our first DAO Governance Proposal for community voting at governance.unique.one.  This is so that the project is from day 1 a decision by the community.  In this phase, we are using Snapshot which is an off-chain voting mechanism and yes it uses the number of tokens in an account to count as votes. This is why we have a phase 2 governance.. let me explain.

D| Satoshi Club:

Sure!

Unique G: Will never DM first:

In phase 2, we will adopt a DAO system but it is important for everyone to understand that the DAO is just a mechanism to vote and ratify a decision.  The actual governance structure needs to be built on top of this.  We have a proposal for the committee which are separated by functions and also by governance or management.  We will announce when we are ready but we expect our proposal to be the first in the world.  As for the voting power, we have a solution for this.  Being an NFT platform, we can easily deploy a system where there will be requirements to participate in voting for certain matters (this means the issue can be categorized and various types of voting used).  So for those who qualify, we can issue the person an NFT.  This NFT can be deposited into a contract that produces another ERC20 that we will use for voting.  So this means one person one vote instead of one token one vote. I hope that answers your question.

Gold Rocket | Satoshi Club:

All clear! Thank you!👍 next question?

Unique G: Will never DM first:

In terms of languages, we have our Chinese site up at cn.unique.one and we should have our Japanese site up soon as well.  We will gradually expand to all languages. Sorry I was taking advantage of the delay.  Yes, please.

D| Satoshi Club:

Interesting system…

Unique G: Will never DM first:

The technology is very flexible but it is only one part of it.  At the end of the day, we are humans and we need a human system as well.

Gold Rocket | Satoshi Club:

You can take your time if you want! we want you to feel comfortable!😊

Unique G: Will never DM first:

Hahaha thanks. We want people to come to use the platform and own the platform and I hope many of you here will come join us.

Gold Rocket | Satoshi Club:

Please share useful links to the project with our community!

Unique G: Will never DM first:

Upcoming Events

18 Dec to 21 Dec – Governance DAO Proposal Ratification on a snapshot

21 Dec – Unique.one Chinese AMA in Biki WeChat

22 Dec – Biki Exchange and Uniswap Listing + Biki CEO AMA in Unique.one telegram + Biki Grid Trading Reward Programme

28 Dec – Comiket Air + Mainnet Launch

Website : unique.one

Chinese website : http://cn.unique.one

Our Testnet is Live!

http://testnet.unique.one

(We recommend Metamask on desktop at the moment and remember to select rinkeby network)

Governance Voting

Ratification of Governance DAO Proposal https://governance.unique.one/#/uniqueone.eth/proposal/QmcTuiju5kwREZ6DzM5sBgcbrzDVU6C2txLqZugcsLcgi5

Articles about Unique.one

Introducing Unique One https://uniqueone.medium.com/introducing-unique-one-6cfe19450e3c

Testnet Is Live https://uniqueone.medium.com/unique-one-testnet-is-live-31ac7c567dc3

DAO Governance Proposal https://uniqueone.medium.com/unique-one-dao-proposal-for-governance-structure-bdd7db0ea6bc

CEX and DEX Listing https://uniqueone.medium.com/unique-one-rare-listings-cex-and-dex-392dcfa2482d

Gold Rocket | Satoshi Club:

Wow! Thank you! 👍Then the next question can be asked!😉

Unique G: Will never DM first:

There are contests as well.  The Biki free $RARE sign up is almost over I think.  But we have a meme contest coming up for all you creative degens.  Biki exchange will have Grid Trading Promo as well.  And we will have Uniswap LP rewards and so on.  It’s going to be exciting!

Gold Rocket | Satoshi Club:

Amazing🚀

Q4 from Telegram user @lzamg

Most of the new crypto projects start the launch of their tokens with a public or private pre-sale and even airdrops. So I’m curious to know: why did you decide to not do any of this and directly put the $RARE tokens on Uniswap for the people to purchase? Is this a strategy to arise trust and security within the users?

Unique G: Will never DM first:

This is an excellent question.  We follow a method called Fair Launch.  This means even team members have to buy the tokens as everyone else in the private sale.  The main advantage of this system is that it prevents dumps in the market on the listing.  We have learned a lot from the 2017 ICO craze and most of the team members and advisors who obtained their tokens free will dump on the market.  This means investors will lose their money and there is no end to the price drop.  Personally, I have invested in a few of such projects and it is unpleasant.  The other key to this is actually the market cap.  We only raise what we need to get the platform developed and get off the ground running.  There are no extras for us.  Other projects will try to raise as much as possible and this is greedy in our opinion.  Early adopters need to be rewarded and we have to respect this basic law in crypto.

D| Satoshi Club:

Can you tell us, how much liquidity will you add to the Uni pool? and at what price people can buy $RARE?

Unique G: Will never DM first:

We want to grow from 20 to 200 and from 200 to 2,000.. and from 2,000 to 20,000.. and the only way this is going to happen is if everyone realizes value from the platform.  As you can see there are many dead projects in crypto and we believe is it simply bad karma.  They took advantage of their community and this project will never succeed.

| Satoshi Club:

👍 Yes, this is true.

Unique G: Will never DM first:

We are listing on Biki Exchange and Uniswap.  We aim for a liquidity of at least USD10k gradually building up in the first few days.  The reason is that the community needs to come in and provide the liquidity.  The method of adding liquidity on Biki Exchange is different and actually very interesting.  Grid Trading is actually an automated trading tool and if enough users provide liquidity, you have a very active market.  So of course there are risks but we have already allocated tokens to Biki to give as reward.  So we think it is a good place to try to earn some tokens as you will be essentially getting an airdrop regardless of trading performance. At first, we were only going to list on Uniswap but then we realize not everyone can use DEX and also not everyone wants to pay the high fees for a trade.  Biki Exchange has been very accomodating to us to our surprise and they have 3 million traders and big exposure to China.  This is why we created the Chinese website, it is to cater to this community.  This was not in our original plan.  Additionally, we will also launch a balancer pool.  Our philosophy is to give as many options to the community as possible.

Gold Rocket | Satoshi Club:

This is really very tempting.

D| Satoshi Club:

Yes, I actually think it’s a very wise decision to going to the list on CEX and DEX on the same date.

Unique G: Will never DM first:

We expect Grid Trading to have a positive impact on the price (not financial advice).  The reason is other traders on the platform will need to buy rare in order to join the Grid Trading contest.  It also serves as a liquidity lock.  We are hoping for good results but we are in the same position as everyone when it comes to prediction.

D| Satoshi Club:

Thank you for the detailed answers! ready for the next question?

Unique G: Will never DM first:

We are keeping an eye out for the developments on the Polkadot ecosystem and especially Polkaswap which will be a CEX and DEX aggregator.  There is no way to get Polkaswap except through the sora and Val farming game at sora.farm.  That’s a tip, but really, we are ready to move there from Uniswap especially if it has greater liquidity and rewards. Yes, please.

Gold Rocket | Satoshi Club:

Q5 from Telegram user @Jonahapagu

Unique.One will hold weekly artist contests providing Artists with an opportunity to win $RARE… Can you explain more about this contest how do artists qualify and partake in this contest, and what do they have to do to win… you have reserved 1 million tokens for this, will the contest stop after the 1 million tokens have been exhausted.

Unique G: Will never DM first:

I am glad you asked this question.  The artist contest will start in early Jan 2021 and the format will be decided by the community.  The topics are endless, we can have character design or landscape, or photo manipulation, or gif.  We can also make it a theme like Satoshi or CZ.  We can have a collaboration for example with Satoshi Club where we can have a Serg contest.  Maybe who makes Serg the most handsome wins.  LOL.  More importantly, the reason we want to hold this is so that the qualitative aspect of the art is recognized and rewarded.  We want new artists to be known, not only the well-established ones.  And when they become more famous, we hope they can enhance their ability to earn.

Gold Rocket | Satoshi Club:

Let’s ask Serge😂

Unique G: Will never DM first:

The token allocation is over 5 years and we believe that we will know whether we succeed or fail over 5 years period.  But there is no need to worry after 5 years because the technology would have improved and as long as the DAO decides, the project can adapt to the new conditions and continue to grow.  I want to emphasize that the value of digital art is more than what many can imagine.  We are looking at a market of tens of billions and where existing platforms especially photography or stock photos can charge as much as 40% for sales.  If we succeed as a community and platform, there will be tremendous value for everyone.

Unique G: Will never DM first:

He will say he is already too handsome

D| Satoshi Club:

HaHaHa.

Gold Rocket | Satoshi Club:

I think so too😁

D| Satoshi Club:

Ok, so who will be picking the winners of the contests? community?

Unique G: Will never DM first:

Yes, the voting will be via snapshot. A platform is just a tool and the team is just a facilitator, the community owns Unique One and they decide.

D| Satoshi Club:

Thanks for the answer! 👍 ready for the last question, from part 1?

Unique G: Will never DM first:

Yes, please.

D| Satoshi Club:

Q6 from Telegram user @Garrinepotter

Farming tokens in liquidity pools is a common and boring business. You create an NFT marketplace where art will be presented as a commodity. Will it be possible to farm on your platform using NFT? For example, for posting quality content. Is it possible to incentivize artists with your tokens? By the way, Satoshi Club we need more people there @unique_one_rare let’s join 💪

Unique G: Will never DM first:

Great question!  The idea of farming NFT is excellent and it is something we foresee doing.  We may also do NFT games but our idea is that it should be a platform so that others can easily do it.  There are some NFT games that are not really open source.  Most of the code is actually closed.  And yes, we are talking to two NFT fractionalization platforms.  As you know the potential is endless for this.  It can be used to fractionalize artwork but it can also be used to fractionalize bonds or insurance or other financial instruments.  We are at the very beginning of a large revolution.  If you guys have a startup idea, please come and talk to us.  We are all about community and collaboration. Thank you so much, guys. We really appreciate all your support.

D| Satoshi Club:

Thank you for such cool and informative answers! 👍

Gold Rocket | Satoshi Club:

Thanks for your great answers! Are you ready for the storm of questions?😁

Unique G: Will never DM first:

I just want to emphasize that you do not have to be a developer to start a project, please come and talk to us.  We are also talking to people who are deep into Music NFTs and DeFi. We always believe that relationships come first and eventually we will be able to work together. Yes. I have seen the craziness.. hit me.

Gold Rocket | Satoshi Club:

You have to choose the best 10 questions and answer🚀

Unique G: Will never DM first:

Sure.

D| Satoshi Club:

Great! Satoshi club if you have some good ideas, go and share them😊

Unique G: Will never DM first:

Absolutely. Satoshi Club is VIP

Gold Rocket | Satoshi Club:

@Cool_as_Ice open live chat!🚀 Thanks for your kind words❤️

D| Satoshi Club:

let’s go!🚀

PART 2.Questions about the Unique.one project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 100 seconds. Then the guests from the Unique.one DeFi project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @Cryptoyese

As someone that has one time visiting Japan. I understand the richness of art in that region. (Say for instance the Aichi Triennale). But with the covid19 pandemic still very much at large, more people chose to spend their time online.. and this has really had a debilitating effect on offline artists.

I’d love to know if you have plans To reach out to the struggling artists on the street of Japan 🇯🇵 that has little or no understanding about NFT’s, possibly never even heard of them?

Unique G: Will never DM first:

Yes, it is.

Q – 2 from a telegram user @Jonahapagu

Unique.One will be a place where new and professional Artists can push their creativity to the limits on a fair and level playing field..so can anyone with almost no skills be able to create NFT’s on your platform or will this be limited to only professional and experienced people…in other words what level and type of skills do I need to be able to use Unique.one platform to create NFT’s.

Unique G: Will never DM first:

Unique One does have a verified artist program and we believe that a decentralized platform should minimize censorship. Therefore, anyone can participate in our platform. And we do not prevent people from giving airdrops or using the platform creatively. Like we said earlier, we are extremely against copyright violation.

Q – 3 from a telegram user @Spott

No public sales, no ICOs or IEOs for UNIQUE ONE project,
What is the concept behind this?

Unique G: Will never DM first:

It is called a fair launch. Meaning everyone has to buy the tokens including the founding team. We have been invested in other projects that use this principle. Although there are varying understanding of fair launch, we believe this is a good approach.

Q – 4 from a telegram user @zaferce

Digital collectibles are developing as a large amount of funding flow to the digital art market, but the digital art trend in the industry is still not fully developed. How does UniqueOne prepare for the Non-Fungible Tokens (NFT) market and how does it contribute to this trend?

Unique G: Will never DM first:

The art and blockchain trend actually started quite early with the track and trace of physical artwork on the blockchain. In the beginning, it doesn’t involve NFT but it’s just posting the hash to the blockchain. Later, with the Cryptokitties craze, NFT gamification moved the trend one step up. The current trend for NFT and Digital Art is still rather new but of course, the explosion came when a token model was applied. But the problem is that all of these platforms belong to for-profit companies and backed by VC who obviously want to profit. We are here to challenge that.

Q – 5 from a telegram user @highpee

I must congratulate 🎉🎉🎉 your team and I wish your unique project a success🥰🥰
You have planned that all your liquidity providers will get a share of 💰💰💰 1 million $RARE tokens for providing liquidity on Uniswap. What LP pairing will be available? How are LP provider’s reward determined? Are there special rewards for providing liquidity for a longer period in your pool? Also, there is no information with regards to liquidity lock duration and whether liquidity can be withdrawn anytime?

Unique G: Will never DM first:

The trading pair on Uniswap will be RARE/ETH and the trading pair on Biki will be RARE/USDT. This gives our community the option to choose. We haven’t decided on a balancer but it should be RARE/USDT. This will only be launched once the trading is stabilized.

Q – 6 from a telegram user @kikirush

Why is the team behind Unique One anonymous, don’t you think it can affect investors’ decisions? Do you plan to disclose the identity of the team in the future?

Unique G: Will never DM first:

The team is anonymous because we do not want personalities to dictate where the project is going to go. Actually, the choice of being anonymous is really up to the individual. For example, our committee in the future will recognize members by telegram handle or their social media such as Twitter. If this person wishes to be known, it is completely up to them. We hope that the DAO will be handled by capable people who can take it to the next level, and it is possible this person might be someone well known in the crypto world.

Q – 7 from a telegram user @KASG95

Really, what other great use could NFT art have apart from the use of a collection, which will allow its creators to obtain rights and rewards for royalties? and how much would be the% of royalties?

Unique G: Will never DM first:

So this is an important question because a lot of people do not understand why Digital Art NFT has taken off. So we need to compare to artists on let’s say Deviant Art who is posting art for free and sometimes they hope to get commission work. If they do commission work, then the copyright belongs to the person who hired them. But here in the Digital Art NFT world, the copyright belongs to the artist. So this is why they can collect royalties on subsequent sales of the artwork. Now there are no rules to the number of royalties that the artist can charge. But it is obvious that if the artwork contains royalty of let’s say 30%, then there will not be many buyers because when they resell, they get 30% less. Unique One allows a range of settings but generally, a royalty of below 10% will be better for the resale market.

Q – 8 from a telegram @bitgraile

They say 2021 is going to be a year for NFTs. With lots of NFT platforms sprouting everywhere, which platform do you consider as your biggest competitor and why? Thank you.

Unique G: Will never DM first:

Yes, we believe so too. The space is new enough that we don’t consider any other platform to be a competition. The reason is that we have a different model. Most if not all of the platform is owned by companies and backed by VCs. Their objective is profit. Our objective is to create a community platform. So we don’t have a competitor in this category. And over the next few rollouts, we will be a truly unique platform. I encourage you to try all the platforms and come to our platform and see the difference. Your voice will be heard by people who genuinely want to build for the community and not some poor customer service.

Q – 9 from a telegram user @Alika061

where was the $RARE token listed on the exchange market by the #UniqueOne team and how did the marketing team create mass adopters for the number of tokens to increase? then has the $RARE token price been registered with Coingecko where can I buy the $RARE token?

Unique G: Will never DM first:

We will be listed on Biki a CEX and Uniswap a DEX and we will be registered on Coingecko after launch and I have to say this is nothing special because Coingecko is a fair platform to all. The reason we are waiting is so that we can provide all the information in one form to send to Coingecko so there will not be mistakes or unnecessary updates

Q -10 from a telegram user @notulu

“Unique.one is a non-profit seeking and supports artists and work with zero fees”. So my question is How does unique.one generate profit and what is the main source of income?

Unique G: Will never DM first:

The token model provides token allocation for the DAO and these tokens will be worth something and it will be the decision of the DAO on how to spend this. The entire idea is that the platform can sustain itself up to year 5 using these funds. We charge a minimal 1% fee for buyers and this platform fee is used to buy back $RARE (increasing the price) and redistributed to all the circulating supply token holders. After year 5, the DAO can decide to either increase or add fees or adopt other revenue models.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Unique.one 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: Unique.one

Telegram group  |  Telegram Chanel  |  Tweeter  |  Website  |  Medium  |  Facebook | Instagram | Youtube

The New Year’s amarathon continues and Satoshi Club is visited by incredibly interesting projects. Today we would like to tell you about the AMA session with our friends from Peanut Project. The AMA took place on December 21 and our guests were Alex Momot, Founder&CEO at REMME, Board Member of the Bitcoin Foundation of Ukraine and Remme Roman.

The total reward pool was 1000$ and has been splitted in 3 parts.

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 Peanut Project! @Remme_Roman @AMomot welcome to Satoshi Club:grinning:

D. | Satoshi Club: @Remme_Roman @AMomot hello guys! welcome!:wave:

Irina K. | @satoshi_club: Hi everyone and welcome @Remme_Roman and @Amomot

Remme Roman: Hello guys! Thanks for inviting us to your cozy group 😄

Alex Momot: Hi guys! Happy to be here!

Mary | Satoshi Club: Guys, it will be very interesting to see your intro) and of course, intro of Peanut Project 🚀

Alex Momot: My name is Alex Momot and I’m in crypto since 2013. Ethereum ICO participant and serial blockchain entrepreneur

Mary | Satoshi Club: It’s very short intro:joy: as i know you’re also in Bitcoin Foundation of Ukraine, right?) You’re making a lot of things for crypto massadoption)

Alex Momot: Right, from 2014 🙂 and many other activities in the space including building miners equipment and several startups

Remme Roman: Peanut is an advanced price balancer tool. As a good example, every time a trader swaps between tokens using an AMM, the price of the tokens in the pool changes. This affects the value of the pooled holdings of all liquidity providers. When one of the tokens in the pool spikes or crashes in price, as can frequently happen, liquidity providers suffer what’s known as impermanent loss.
As a result, when they go to withdraw their assets from the pool, the value of their holdings has diminished.
Peanut balances prices after each trade to reduce slippage and helps liquidity providers earn more.

D. | Satoshi Club: interesting concept:+1:

Mary | Satoshi Club: That’s great:grinning: we appreciate everything you did)

Alex Momot: Current flow without Peanut:
Step 1.
User buys Token A for ETH on Uniswap and creates slippage. Let`s say 2%. So he will recieve 98 tokens instead of 100.
Step 2.
Next user buys Token A for ETH on Uniswap and creates additional 2% slippage and he will receive 98-2%=96.04 tokens.
So slippage will be accumulated for each next user.
If arbitrage bots works on this token then part of slippage will be drained making slightly better rate for next user but creating impermanent losses as a result.
In both cases users and LPs will receive less.
Proposed flow with Peanut:
Step 1.
User buys Token A for ETH on Uniswap and creates slippage. Let`s say 2%. So he will recieve 98 tokens instead of 100.
Step 2.
Peanut balancing the price by moving liquidity from other exchanges to Uniswap making price 99 and providing part of profit to LPs covering impermanent losses.
Step 3.
Next user buys Token A for ETH on Uniswap and creates additional 2% slippage and he will receive 99-2%=97.02 tokens.
Step 4.
Peanut balancing the price again by moving liquidity from other exchanges to Uniswap making price 98.01 and providing part of profit to LPs covering impermanent losses.
So slippage will be lower for each next user in comparison to flow in first example.
In both cases users and LPs will receive more.

Here is detailed explanation how our balancing mechanism will work

Mary | Satoshi Club: Yes, i saw your graphics) it’s exciting! I have just one question before we will start with community questions) Why Peanut?)

Remme Roman: Our concept has same with a peanut bean. It’s also consist of two edible parts and Peanut divides LP assets into two «edible» parts also:
90% is used for providing liquidity on Uniswap or via another DEXs
10% is used for automatic multi-level price balancing between Uniswap and other DEXs and CEXs.

Mary | Satoshi Club: Wow, finally it’s not just the name of a food or vegetable) but the name with a sense:grinning:

Remme Roman: yep, we think over everything to the details 😉

D. | Satoshi Club: wow…you will be work only with Uni? or with other DEXs as well?

Alex Momot: With Curve, Balancer, Sushiswap and even with several smaller DEXs as well. We can integrate most of AMMs if there will be enough liquidity

D. | Satoshi Club: great! nice diversity :+1:

Q1 from tg username @lionelos

You say that the smart contracts automatically ballances the prices after each trade. Can you tell me more about how this works? Do you have a pool for this?

Alex Momot: It`s not smart contract only, we have sophisticated backend for CEXs involved in that. We can analyze situation on multiple markets and find the best route how to balance the price

Users will have two options – create a new pool on Uniswap through our solution. In that case 90% of liquidity goes to Uniswap and 10% go to Peanut as an additional balancing pool. Or you can create a balancing pool for existing Uniswap pools. The same scheme will work for other DEXes.

D. | Satoshi Club: can we compare you project with, let’s say – 1inch aggregator? you do the same things?

Alex Momot: We made our own smart routing mechanism similar to 1inch 2 years ago – Swapy.app and used that experience while building Peanut. But Peanut itself works in other way – earning money with current market swaps with no need waiting for someone that will use specifically our platform

Mary | Satoshi Club: Is it still working? I mean, Swapy.app?

Alex Momot: Yes, you can try it 🙂

Mary | Satoshi Club: I definitely would:grinning:

D. | Satoshi Club: @madamlobster do you want to ask your favourite question here? :eyes:

Mary | Satoshi Club: Ahaha, yes, i think i will:joy: What about Peanut audit?)

Alex Momot: Good news here is that CEX part of our product centralized and will not suffer from classic flash loan attacks 🙂 As for public smart contract part that should be launched in Q2 we will make an audit before the launch

Q2 from tg username @Vir_leroy

Did you have a pilot project or some tests that can show us how efficient your arbitrage method is?

Alex Momot: Our CEX-DEX balancer is live now (in close mode). DEX onchain part should be launched during several weeks. Frontrun and MEV protection finished. Monthly turnover around $5m with 50k profits. We are planning to caught few % from total market slippage during the year. Now it`s $300m per month on Uni only

Mary | Satoshi Club: I think few % from $300m will be ok) When will we get possibility to test it?

D. | Satoshi Club: more than enough for someone:grin::wink:

Alex Momot: We are not planning to provide direct access to bots itself. The idea is that LPs will provide liquidity and we will redistribute profits from balancing mechanism to them through token. Buyback program will start working from the day 1 after listing on Uni

Q3 from tg username @Antonerem

Based on the information you provide, all actions are performed on a smart contract level. Isn’t this a bit slow? Especially when the network is overcrowded and bottlenecks appear, how can you work fast? Lattency is essential in what you’re trying to do.

Alex Momot: You are right – smart contracts are slow. Calculations made on our backend that should work very fast. We should perform Reserve updates, Estimation, Gas estimation and TX publishing in less then 20 ms and after that trancastions will be included in the block (block time in Ethereum is 16 seconds) But it`s about DEX onchain part. If we talking about CEX part speed is not so important cause there are many other risks like hacks, token withdrawal issues and so on

Mary | Satoshi Club: How can it be faster?

Alex Momot: It`s all about proper architecture – all logic should be outside smart contract

D. | Satoshi Club: by the way, do you have plan to solve the issue with high fees on Ethereum somehow? maybe not in the nearest future, but you are working on something like this?

Alex Momot: I believe we should ask Vitalik about that :joy::joy: On our level we could work on reuse of each tx instead of cancellation, use various gas tokens and monitor mempool to be sure we making proper gas estimation

Q4 from tg username @batrud

Do you intend to expand the coverage to other types of trading in the future? Many forex? Or other areas in which slippages appear quite often?

Alex Momot: Sure, we will add more CEXs and DEXs cause there are many different markets and liquidity in crypto is fragmented. So in other words we have built interDEX integration solution 🙂

Mary | Satoshi Club: Can you give us current CEXs and DEXs names? I mean those you know will be available after launch

Alex Momot: Now we use Binance, Huobi, HitBTC, Kucoin, Gate and Uniswap. We are planning to add Curve, Sushiswap, Balancer and many CEXs as next steps

Mary | Satoshi Club: Great:grinning: do you plan any partnerships with this exchanges?)

Alex Momot: Sure, and we have the first with Curve and more to come :grinning:

Q5 from tg username @hadrianus14

Why did you need to build your project on a blockchain infrstructure? What are the advantages and unique functionalities that the blockchain provides, because from where I see it – it would have worked better with a “classical” tech solution?

Alex Momot: As for the CEX part – yes, it`s classical, but for DEX – it`s completely new mechanics. MEV, frontrunning (with blockchain specifics) smart contact routing for tokens, different types of txs – everything works onchain and will be impossible without sophisticated DeFi market in current state

Mary | Satoshi Club: Btw, do you work with non-blockchain projects?)

Alex Momot: Currently we are working in blockchain space only. And token should be listed on two exchanges at least

D. | Satoshi Club: and do you have any plans regarding to cross-platform interoperability?

Alex Momot: 99% of all liquidity now on Ethereum network. Once we will see significant growth on other platforms we will integrate it

Q6 from tg username @edibrown

What is the relationship between NUX and REM? Why do people need to hold REM in order to participate in the airdrop and get bonuses?

Alex Momot: Peanut made by the Remme team. We made airdrop for Rem holders and Guardians (BPs) for attracting long time holders, supporters and tech savvy users for initial growth of the new product. We believe community is very important part of every project.

Mary | Satoshi Club: Did you already made $NUT airdrop?

Alex Momot: Not yet

Mary | Satoshi Club: Is it possible to get in now? If i will buy REM now? Or it’s late?

Alex Momot: It`s too late for the airdrop but you still can take part in pre sale tomorrow🙂

Mary | Satoshi Club: Super! What will i need for this? KYC? Min/max to participate?:grinning:

D. | Satoshi Club: can you give us information about your pre sale?:blush:

Remme Roman:

PreSale start date: 22 December, 3 PM (UTC)PreSale end date: 29 December
PreSale supply: 4 000 000 NUX
PreSale hardcap: 2500 ETH
PreSale price: $0.25
Personal minimum cap: 1 ETH
Personal Maximum cap: 200 ETH
Accepted currencies: ETH, USDT, USDC
Token lock period: 25 month
Token unlock period: 4% every month during 25 month
No KYC. There won’t be any whitelists or other criteria for participation. All you need to be mindful of is the time limit — don’t wait till the very last second or you could be too late!

Part 2 — live questions from the Telegram community

Q1 from Telegram user Memo

I understand that the tokens will be unlocked in equal parts in the next 25 months, but will this not really affect directly the value of the NUX tokens in the market, through the continuous increase in supply in each unlock?

Alex Momot: Well, technically tokens will be unlocked during 750 days in equal parts each second, so growth in circulation will be very slow and smooth. The idea behind it is that tokenomics will start working immediately and token performance will be much better in comparison to usual situation in blockchain space 🙂

Q2 from Telegram user @KevSalom

You mention that “any potential price movement of large DEX trades can be immediately damped by matching it on the CEX, protecting LPs from slippage”… But can’t very long movements in one direction exhaust this price cushioning capacity? Is it impossible for peanuts to stagnate?

Alex Momot: Price movements should be aligned on all markets otherwise arbitrators will earn instead of users. For efficient work of our algorithms we need volatility in any direction with any speed or size. Bad situation for us is absolutely stable prices but luckily it`s very rare situation in crypto 😀

Q3 from Telegram user @jerryziz91

Can you please be more specific about “NUX”? What is that, like gas for balancing algorithms… what does it mean?

Alex Momot: Peanut is powered by its own ERC20 utility token, NUX. In order to add liquidity to the Peanut pool, users will need to deposit some NUX tokens. Otherwise, Peanut’s algorithms won’t be able to conduct operations with the user’s liquidity.
NUX enables our algorithms to work with your assets. Liquidity provider (or regular user) should have enough NUX on the balance for the Peanut balancing mechanism to start operating on their liquidity. Once profit is earned fee will be taken from the NUX tokens too.
Once the large-scale distribution is achieved and governance best practices proved, we’re planning to use NUX utility token for governance purposes.

Let’s use an example:
REM-ETH pool on Uniswap now has around $30k total liquidity.
Let’s imagine all liquidity is provided by one person and he wants to have a part of the slippage and IL back.
For the Peanut DEX-CEX balancer to work they should put 10% of the pool value into our custody.
$30k*0.1 = $3k (DEX on-chain balancer don’t require balance)
Next they should BUY & STAKE $3000 in NUX token to unlock use of the balancing algorithm.
REM slippage on Uniswap was $16k (August, September, October).
If we will be able to catch 1% of slippage only, it will give $160 during these 3 months and $640 per year (21.3% annual yield).
If we can catch 5% – $800 and $3200 respectively (106.6% annual yield).
From all profits Peanut will takes 10% as commission.

Q4 from Telegram user @chelyabinsk_crypto

How did you come up with the idea of creating the Peanut solution? Was it due to impermanent loss or some similar personal experience that made you nderstand that there would be room for such solution?

Alex Momot: Yes, it was our personal experience. Once we’ve provided liquidity to our REM token pool on Uniswap we got the idea of creating such a solution. We were faced with impermanent loss and slippage problems. At the same time prices on DEXes are not automatically aligned, and that led to a significant imbalance in the trading pairs. We’ve started looking for possible solutions to this problem and developing the current Peanut model. AMMs itself suffers from this problem from the beginning. When users sells smt with huge profits big slippage is ok but we should improve overall logic to help or market be more mature and attract new users

Q5 from Telegram user @Idee01

In doing a SWOT analysis, we are well aware of the strength of Peanut protocol (increases LPs profit, fix impermanent loss, reduces slippage etc). Can you honestly tell us the weakness of the platform and what steps have you taken to resolve it? What ways can the community contribute to the growth and development of Peanut project?

Alex Momot: Currently we are still fighting with frontrunning and MEV making protection better and better. Frontrun is a situation when smb’s trying to steal your txs and profit by reading it from mempool and creating the same tx with higher gas so miners will take such a tx earlier. We have implemented several types of protection for that already. MEV – it`s a unfair behavior of miners when they could take preferable tx with lower gas before your tx. Another potential threat is that crypto trading somehow will be stopped but I can`t see any possibilities to that :sweat_smile:

Q6 from Telegram user @delta7N312A

How will you attract crypto users to partake in NUX project ?
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Alex Momot: Well, we are not anon team and we have long history in crypto. With Remme we raised $20m in 2017-18 and made 4 products instead of 1, passed through crypto winter despite significant troubles and still here and delivering. Another thing is that we will have protection from rug pulling for our pool on Uniswap

Q7 from Telegram user @Skyeyes123

What is Peanut’s role and position among the existing AMM’s? Are the Peanut protocols collaborated with existing AMM’s or built to replace it?

Alex Momot: There is no need in creating one more “Uniswap killer” and try to attract LPs. That’s not our way. Bancor, Mooniswap, Dodo trying to solve this problem and attract liquidity but Uniswap, Curve, Sushiswap and Balancer have x50 total value locked. Peanut is like an additional pool for Uniswap and others. We’re not going to compete with Curve, Uniswap etc our main goal is to reduce slippage on any DEX platform. We will support Uniswap, Curve and a few other AMMs at the start. Uniswap is done already. You will have two options – create a new pool on Uniswap through our solution. In that case 90% of liquidity goes to Uniswap and 10% go to Peanut as an additional balancing pool. Or you can create a balancing pool for existing Uniswap pools.

Q8 from Telegram user @Xusuo

After I purchase NUX token from presale, they will be locked directly for 25 month? And every month the token will open 4%? Why did you use this method? Because not all investor can patient and wait for 25 month to get NUX Token

Alex Momot: There will be 0 tokens in circulation on day 1, 1.6% on day 30. Airdrop 15%+25% for sale = 40%. 4% unlock per month from that amount means 1.6% from total circ. It’s very good figure that will help avoid dump on the start and should help a lot with token performance once algorithms will start buybacks

Q9 from Telegram user @Garrinepotter

One day left before the start of the pre-sale. What moods prevail in society? Are you sure everything will be gone in a matter of minutes, or are there any little things? Will the collected million dollars be enough for the further development of the project? You promise to add 20% to the exchanges to provide liquidity, but is that enough to provide liquidity?

Alex Momot: Mostly bullish :joy::joy: Interest is very high so it looks like users faced with problem of IL and high slippage and we are waiting for successful pre sale. In few weeks after pre sale we will have public sale so overall capital will be enough for finishing development and improving overall efficiency. As for the pool size I believe for 80% of trades slippage will be minimal with such a size

Q10 from Telegram user @GoldRocket27

Оn December 22, 2020 you are planning to start the NUX pre-sale. Congratulations! This is a great event! .🇺🇦:heart::rocket: Tell us how you see Ukraine’s development paths in crypto

Alex Momot: Thank you! I believe Ukraine will be one of the top places for blockchain projects to be based in. Cause here are top developers, beautiful cities, low prices and country is moving in right direction 🙂

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Peanut Project. They’ve prepared 4 questions for this part. The total reward pool for quiz was 700$.

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:

Peanut Project Community: https://t.me/peanuttrade

We are pleased to announce our next AMA on December 22nd 2020 at 06:00 PM UTC Time: Satoshi Club x Prophecy

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Prophecy 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 100 seconds. You can post Max 3 questions. Prophecy Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Prophecy

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

We are pleased to announce our next AMA on December 28th 2020 at 03:00 PM UTC Time: Satoshi Club x Flashstake

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

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

We will have the following structure:

Part 1: 150$ /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: 150$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Flashstake Team will select 10 questions and answer them.

Part 3: 700$ – A quiz about Flashstake

For more details:
Flashstake – @flashstake
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 YOP and our guest was Atif Yaqub, Founder of YOP. The AMA took place on 20^th December.

The AMA session was divided into 3 parts with a total crypto reward pool of 888$

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

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

Today we are present to your attention AMA with YOP!

D. | Satoshi Club: hello Satoshi Club!

Gold Rocket | Satoshi Club: And our guest is @AtifYaqub!

D. | Satoshi Club: @AtifYaqub welcome to Satoshi club!

Atif Yaqub: Hello everyone. Great to be here. Thank you for hosting YOP.

Gold Rocket | Satoshi Club: Thanks for joining.

To be begin with, please tell us a few words about yourselves and how did you get to be involved in crypto & YOP.

Atif Yaqub: Hi, I am Atif Yaqub, Founder of YOP. Have been active in the crypto space for over 4 years now. Started with mining, moved into investing and over the years supported various projects. We are based in UK with a global team. YOP came about from my personal frustration of most products being geared toward technically capable users. So we decided to create a more user friendly environment but at the same time stay true to the crypto values.

D. | Satoshi Club: thank you! and could you tell us briefly, what is YOP?

Gold Rocket | Satoshi Club: And this is a very correct decision, I think!

Atif Yaqub: YOP is a yield optimization platform & protocol. All-in-one yOptimization application that makes it easy for everyone to access DeFi. Giving you control, custody, insights and flexibility directly in one single application.

Our platform brings together all the tools and our protocol brings together all the access to contracts and pools. All powered by our token $YOP.

Gold Rocket | Satoshi Club: The crypto world is becoming more accessible and creating understandable services for ordinary people is definitely the right direction!

Thanks for the intro! Would you like to add something or can we start with the questions of part 1?

D. | Satoshi Club: more simplicity in DeFi this is what we need

Atif Yaqub: Lets go to questions.

Q1 from Telegram user @b_dima

Your maximum supply is 88,888,888. The reward for the AMA is 888. I see that you work around this number 😀

Do you think it will bring luck to your project? It is also a symbol of efficiency and prosperity

Atif Yaqub: Numbers are really interesting no doubt. They have different meaning for different people. When we did our calculations it was close to 88, so then I thought if we going to have 88, better it is eight 8, and we arrived at 88,888,888. Now everything stays interesting as you divide that. So we also have cool numbers, 2222, 1111, 888. Keeps it interesting!

D. | Satoshi Club: magic of numbers

Gold Rocket | Satoshi Club: Interesting theory!

Atif Yaqub: Open to interoperation for everyone. That is the best part.

D. | Satoshi Club: and of course you have decimal 8 in your Ethereum contract?

Gold Rocket | Satoshi Club: Tell us please about your tokenomics btw @AtifYaqub

I’m sure there was some magic

Atif Yaqub:

Yes for sure. So the best part is $YOP is engineered to be deflationary. Our yPlatform and yProtocol make use of the token and withdraw supply from the market. We also have staking, rewards and a buyback plan for token burn. The initial circulating supply is below 10m tokens. We have also kept the token sale price flat at $0.05 for everyone so it is a level playing field.

We have 3m tokens locked from the initial supply deferred by our intuitional investor for delivery at 18 months.

It is great to have longterm partner like Pires, who is listed on the London Stock Exchange supporting the project.

Gold Rocket | Satoshi Club:Yes, I read about it on your twitter. Could you tell us more about this?

D. | Satoshi Club: your token sale already happened or you preparing to launch?

Atif Yaqub: So early on we were approached by this institutional investor, who really had growing interest in the crypto space. We went through a 7-8 week process of due diligence and technical reviews. The idea behind having such a partner is 1. makes the project very strong from the start, being verified (no rug pulls here) 2. gives us long term growth options to raise more capital when we want to scale up. Our hardcap is only $533k, the plan is to deliver our first version, build a base and the grow from there. With proof of product rather than raising huge amounts at start and then not delivering.

Most of our token sale is complete, we have a small allocation remaining which will be launched on a platform in January. More details coming soon. Join our TG Chat for the latest. @YOPfi

D. | Satoshi Cluba: wise approach

got it! thank you!

appreciate for answers! ready for the next question?

Atif Yaqub: Ready.

Q2 from Telegram user @bitcoinistic

You mention that the current applications are poor and generally have limited features with one or two core functions. From all your research and testing none come close to a premium user experience.

Now this is interesting but I would like to see some proof. Can you share with us some of your analysis of your competitors?

Atif Yaqub: https://yopfi.medium.com/the-robinhood-of-defi-yop-competitive-analysis-29c09da0567d/

We have a 56 page report that we published on our Medium blog. Link :point_up_2: You can review details about the competitor platforms there. In terms of our protocol competitors, it is widely known today all the DeFi protocols are single function, like AMM, Stables, Lending etc. Look out for our protocol paper coming soon which outlines our plans for the DeFi Super Protocol.

Gold Rocket | Satoshi Club: Wow! Detailed enough analysis!

By the way, have you done an audit of smart contracts?

D. | Satoshi Club: thanks! i think people will find there all answers about this topic

Atif Yaqub: https://etherscan.io/token/0xae1eaae3f627aaca434127644371b67b18444051/

Our current smart contract deployed for the token is fully audited. 100% all other contracts we deploy will also be audited, tested, reviewed. Customer safety is very important.

Please be careful as YOP has grown in popularity there are many fake channels and tokens now being promoted.

Always verify and double check!

Gold Rocket | Satoshi Club: Thanks for the answer!

Do your users need to pass KYC?

Atif Yaqub: The yPlatform is non-custodial so it will be open to everyone. If they chose to use the fiat on-ramp then the 3rd party provider may have some elements of KYC. The rest no.

D. | Satoshi Club: understood, good to know such a things

Gold Rocket | Satoshi Club: Can we proceed. Or you want to add something?

Atif Yaqub: Proceed.

Q3 from Telegram user @Tommyramble

How are the farms selected? You say that the optimization protocol gives access to the best farms, but how is this list of farms created?

Atif Yaqub

So there will be various parameters for this depending on what the customer would like to choose. For us “Yield” is everything from holding an appreciating token, earning reward in an AMM pool, or farming tokens. So the novice user may just want low risk easy access. Select an APY and lock tokens. Others might want to chase APY at high risk. There will be options for everything. Customisable and as the version develop we add more features.

Gold Rocket | Satoshi Club: Sounds good

D. | Satoshi Club: and when we will able to try all this diversity?

Gold Rocket | Satoshi Club: What do you personally plan to use from the proposed options?

Atif Yaqub: We have been in development for a few months now. V0 releases Q1 2021 – we believe something around February time. The first version will not have all functions but we have designed our architecture so that it is capable of handling all the add ons. V0 will give you a flavour of all 5 products shown above and let you engage the markets. Then we slowly start layering on more features, so the new customers are not overwhelmed.

Big fan of our “Emergency Button” this allows you to withdraw at an instance by front running TX when there has been a big move in market or vulnerability found in a contract. At these times speed is important.

D. | Satoshi Club: oh, this is really cool

Atif Yaqub: YOP is cool

Gold Rocket | Satoshi Club: Thanks for sharing!  I’ll take it on board!

Can we jump to the next question

Atif Yaqub: Lets go

Q4 from Telegram user @Arisabela

YOP has a sofisticated Protocol to compile data from exchanges, block explorers and networks. It says in your website you use artificial intelligence to identify the hottest trends. What kind of AI technology do you use? How is it profitable and how much funds do you destine to it?

Atif Yaqub: Good question. So each of our 5 products are being built to a robust level that they could easily be stand alone products in an app. The question here is about our SMA:tm: (Smart Market Analysis). As data of wallets, tx, movements is all open on block explorers we are using machine learning and data harvesting to collect this data and identity trends with Artificial Intelligence.

This can highlight how many are holding which token, how long, prices, movement, volume and customer sentiment. Something which has lacked on market data websites to date. It will be built overtime and as mentioned we will raise more capital after V0 to scale up production too. Our partners our looking at the 3 years ahead and we have a long term outlook to grow YOP.

Gold Rocket | Satoshi Club: This is a very large amount of work! how big is your team for release this

D. | Satoshi Club: thank you for answer! by the way are you planning to reveal your code? or maybe you already did? can we see it on github?

Atif Yaqub: We have 12 now but that will grow as time goes on. Its not always about how big though, but important to have quality too. You can hire 100 people but they might not build anything, while 10 good team members do magic.

Gold Rocket | Satoshi Club: As far as I know, this is an international team and there are my compatriots from Ukraine

Atif Yaqub: Some of the protocol stuff yes, other stuff will remain private unless we decide to move into foundation model. We will look more into that in Q2 2021.

D. | Satoshi Club: got it! thanks

Atif Yaqub: You have to search the world to find the best.

Also launching in covid time it made sense to structure the project in a different way. No more offices. Fully decentralised.

D. | Satoshi Club: indeed!

Q5 from Telegram user @yellowchamp

The circulating supply of $YOP should remain relatively low and early on we see $YOP becoming a deflationary asset. In fact, our projections show deflation of between 12% and 15% in the later stages of the project. For those newbies in crypto, can you explain more about the deflationary asset? How did you come up with an advance idea that $YOP will become a deflationary asset? What is your basis of having this projection in the future? If this projection will be true, what is your advance plan in giving a solution with this deflation?

Atif Yaqub

The basic meaning is rather than more tokens coming into circulation (normally leads to sell pressure) there is a withdrawal of tokens from supply (usually leads to buy pressure). Our economic modelling shows as users grow we reach these figures. Our protocol & token paper due out soon will go into more details on this too. We have a dedicated economist who has helped model this projections.

Gold Rocket | Satoshi Club: It is very difficult. Thanks for clarifying.

Atif Yaqub: Another way to put it – more users less tokens. More demand.

D. | Satoshi Club: this is perfect explanation for newbies

Gold Rocket | Satoshi Club: Thanks! Do you want to add something? Or move on to the next question?

Atif Yaqub: Roll on…

Q6 from Telegram user  @konditer_rolex

You have created an aggregator platform exclusively for mobile phone users. Why exactly these gadgets? Dislike of office clerks or an attempt to adapt DeFi products deeper into society? But then I have a question, how many languages does your application support? Is there a translator (dictionary) from technical language to human? can my mom figure out how to stake a YOP token?

Atif Yaqub: Multiple good questions.

So firstly all big tech companies today now design for mobile first – even if they launch web first. This creates a better product as the mobile restricts you to only put in what is necessary – where as web you have so much space to play with things can get messy fast and UX/UI not so good.

We will follow up after the mobile version with a desktop and tablet version.

In terms of languages if you look at our roadmap – multi lang support will come. As our community grows we will see which other languages have the most demand to add.

In terms of your mother being able to use the app. I hope also everyone grandmother can use the app. That is how easy and informative it should be. With labels and education resource for new comers.

D. | Satoshi Club: we will hope our parents can gain some decent profit through yield farming, mining and maybe lending by using YOP

Gold Rocket | Satoshi Club: I don’t know about Rolex, my mom is very progressive:grin:

I dream of teaching her crypto!

Atif Yaqub: We welcome them all.

Part 2 — live questions from the Telegram community

Q1. from Telegram user @Gutike95

Does the platform have a SCAM token checking system? or will it just append all available tokens in uniswap?

Atif Yaqub: This is why we included market data within the application. So that you can have all the relevant information on hand. From here we will start grading tokens and giving insights where to be more cautious.

Q2. from Telegram user @cengizhantekin

Is yProtocol a fork of an existing protocol or have you prepared it from scratch?

Atif Yaqub: Our own proprietary mechanism. Initially it will speak to other DeFi protocol and then we will start to grow our own liquidity. So its a mixture really.

Q3 from Telegram user @jerryziz91

As a concept the Multi product Support sounded rather fascinating. Which kind of products can it generally support and what are the benefits of the mechanism for the users?

Atif Yaqub: The core benefit is not having to leave the application. So right now imagine when engaging DeFi protocols. You check price in one place. Swap in another. Then make a pool. Then stake. Then use another provider as wallet dashboard to see what is going on. Too much headache. Now imagine having all of that in one application.

Q4 from Telegram user @KeymerS

I understand that you plan to integrate YOP into the 7 different networks, that’s great, but on which exchange platforms do you plan to list it with each of those chains?

Atif Yaqub: We will monitor where the best products are being created and implement these into YOP. This is a long term vision and the market is always moving so we have to follow and see where it goes. Ultimately we see YOP becoming the launch platform for new innovations in DeFi and other products as our community grows.

Q5 from Telegram user @Boylut

Regarding YOP on-chain governance, what kind of proposals customers could put forward and how do you aim to encourage users to actively participate in the governance of the platform, will there be incentives for doing so?

Atif Yaqub: Yes we have built incentives for staking and governance. This creates longer term token holders and therefore a more smoother governance process. We will publish the formula in our protocol and token paper.

Q6 from Telegram user @paul_adebayo

How do you intend to attract community members to your $YOP platform. Any reward or incentives for users of your platform.

Atif Yaqub: Good question – details on the YOP Diplomat Club coming very soon. Stay tuned. Come Earn $YOP. @YOPfi

Q7 from Telegram user @winterkom

–  How much participation do YOP’s private investors have in the management of the project? Do they have a say in the conduct of changes to the YOP protocol?

Atif Yaqub: We have chosen investors who are long term partners. They will support the project in various ways. So yes they will have active input and we also welcome community feedback and ideas.

Q8 from Telegram user @ ThinhLe1219

Hello Mr. @AtifYaqub What do YOP want to achieve through the AMA with Satoshi Club today?

Atif Yaqub: We want to share our project, welcome the Satoshi Club community to YOP and hopefully reward the active participants along the way. Welcome to YOP!

Q9 from Telegram user @konditer_rolex

You synthesize data from all liquidity platforms into one application, and the application becomes a combine of DeFi tools. Farms, swap, wallet, etc. This is all cool but my phone has 3 GB of RAM and not very many cores.We don’t need Large Hadron Collider for the app to work properly?

Atif Yaqub: With the latest technology and new architecture we can create a faster and less CPU intense application. So don’t worry you will not need super computer to run YOP! :smiley:

Q10 from Telegram user @Tomekruz

Who can benefit the most from the tools you provide at YOP?

Atif Yaqub: Our logo should answer the question. Newbie and advanced alike…

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 :https://web.telegram.org/#/im?p=%40yopfi

Twitter: https://twitter.com/yopfi/

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 Kerberos Finance and our guest was Lance. The AMA took place on 19^th December.

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&Bitcointalk community

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

We conclude our today’s AMA marathon with a very interesting project.

D. | Satoshi Club: hello again Satoshi Club!

Gold Rocket | Satoshi Club: We are present to your attention our AMA with Kerberos Finance.

Today our guest is @kbr_fi!

D. | Satoshi Club: @kbr_fi welcome to Satoshi club!

Gold Rocket | Satoshi Club: @kbr_fi how are you doing?

K | Owner of Kerberos Finance: Hi, I’m fine & doing well. Thank you

Happy to be here in the Satoshi Club community and present our project, Kerberos Finance!

D. | Satoshi Club: nice! welcome!

Gold Rocket | Satoshi Club: Thanks for joining.

Tell us a bit about yourself before we hear about your project

K | Owner of Kerberos Finance: Thanks for having me!

Yeah, hello everyone, my name is Lance (K is just nick-name).

I’m the Project Leader of Kerberos Finance project

I have started the project back in Oct 2020, and have been working with an amazing and diverse team up to this point.

So what is Kerberos Finance?

We’re creating the community ecosystem in which we have introduced 2 products:

– $KBRF: Yield Farming, Staking and more.

– $kAIDES: Fully Decentralized Gamification.

And the last core of the platform will reveal in Q1/21

Gold Rocket | Satoshi Club: it is very interesting! which core, if not a secret?

K | Owner of Kerberos Finance: the last one will be the platform core, sorry I can’t spoil now 🙂

D. | Satoshi Club: ok, we understand  can you tell us, briefly about your team members as well? how many people work at your project?

Gold Rocket | Satoshi Club: Ok! promise to share with us after the release

K | Owner of Kerberos Finance: Our team has 4 members

Eden – Solidity Developer

Fin – FE Developer

Grace – Designer

and me

Sure I will 😀

Gold Rocket | Satoshi Club: Not a very big team!

K | Owner of Kerberos Finance: Yes, that’s the reason why our team must work 12-15 hours everyday 😀

Gold Rocket | Satoshi Club: Thanks for the great intro! Can we proceed to the questions of part 1?

K | Owner of Kerberos Finance: I’m ready

D. | Satoshi Club: we hope your project will grow up as is your team

Gold Rocket | Satoshi Club: We wish you success in your work!

K | Owner of Kerberos Finance: Thank you so much! No matter what the result is, it’s an unforgettable experience !

Q1 from Telegram user @yellowchamp

Many Defi Yield Farming in the market nowadays. So as a new entry in the market , what is the edge and strongest point of Kerberos Finance that investors will choose to invest and trust with you with their single penny out of hard work and effort? Can you share some legitimacy of your platform? Does your platform already undergo with some audit? How about your Smart Contract?

K | Owner of Kerberos Finance: An interesting question, yeah, there’re so many many Defi Yield Farming in the market nowadays, but our platform applies this unique point:

Buyback & Burn Mechanism:

The yield generated from holding these assets are paid in-kind on the highest-yielding platform. When a withdrawal is made, the smart contract calculates the profit and splits up the assets into 3 distinct portions (47.5%, 47.5%, 5%). These portions are:

– ‘The Buy & Burn’ (47.5%): This portion is converted to ETH, and buys back the KBRF token from Uniswap, thus increasing it’s market value.

– ‘The Compound’ (47.5%): This portion is left on the platform and reinvested back into the KBRF vaults, creating an autonomous money pile that continually compounds to make money.

– ‘The Rest’ (5%): The remaining 5% is retained in the governance wallet for future developments and covering gas costs

More details: https://docs.kerberos.finance/kbrf/how-kerberos.finance-works/

Gold Rocket | Satoshi Club: Tell us please about your tokenomics btw

K | Owner of Kerberos Finance: About Contract Audit, we’ve contacted to Trail of Bits & Certik. Any updates will be announced soon.

Token Name: Kerberos Token

Token Symbol: KBRF

Token Address: 0x5255bb2de3ee6ca1ba729a9f0558e99da4d43303

Total Supply: 50,000 KBRF

– 30,000 reserved for liquidity mining.

– 16,000 for sale & liquidity lock.

– 3,000 for future incentivization of community contributions and airdrops.

 – 1,000 for dev fund.

Gold Rocket | Satoshi Club: Everything is clear to me! Do you want to add something? Or can we move on to the next question?

K | Owner of Kerberos Finance: You all can refer our smart contracts via:

– Token: https://etherscan.io/address/0x5255bb2de3ee6ca1ba729a9f0558e99da4d43303#code

-ETH vault: https://kovan.etherscan.io/address/0xd4931090ae73e1320b83437119717064eef63fcc  –

– USDT vault: https://kovan.etherscan.io/address/0xea67f6cf6a72ea1900368daea23dae6357dbeb7b 

– DAI vault: https://kovan.etherscan.io/address/0x573bcbc92c56eaf695b278137e601ce1d573f2e8 

Source code will be public on our Github repo soon

Gold Rocket | Satoshi Club: Thanks for sharing

D. | Satoshi Club: thank you! waiting news about your audits and your code!

Q2 from Telegram user @Winterkom

– Kerberos Finance currently has 2 heads ($KBRF and $kAIDES). My question is, will these be the only Kerberos divisions or will there be a 3 head?

D. | Satoshi Club: nice question can we expect third token?

K | Owner of Kerberos Finance: Hahaa, it might be crazy if our team releases 3 heads at the same time 😀

Eden, our main Solidity dev, will not have sleep time 😀

Yeah, as I have mentioned above, the 3rd head will be the core of the Kerberos Finance platform. But I can’t spoil now

Btw, Kerberos, in many religions, not only has 3 heads 🙂

D. | Satoshi Club: got it! so what we can expect from Kerberos in the nearest future? maybe some events?

Gold Rocket | Satoshi Club: we understand you!  Is there something to add or jump the next question?

K | Owner of Kerberos Finance: It will be ready and introduced in Q1/2021

D. | Satoshi Club: gotcha

Gold Rocket | Satoshi Club: share a roadmap?

K | Owner of Kerberos Finance: You can check our roadmap via Litepaper: https://kerberos.finance/docs/litepaper.pdf/

it will reveal something 😀

Q3 from Telegram user @samuelstook

One of the features of Kerberos Finance is Blood Spirits, which is a flexible burn rate. What is the difference between Blood Spirits and other normal Burns?

K | Owner of Kerberos Finance: Our platform recommends strong hold & holders/farmers will receive interest from token value

the flexible burn rate per tx will punish weak-hands who sell their tokens too soon

D. | Satoshi Club: so – never sell?

K | Owner of Kerberos Finance: The cheaper token price they sold, the more fee they will be punished

hahaa, no bro, when the price at 10 times of the presale price, the fee is 1% only

D. | Satoshi Club: got it.  so don’t you think this system could be somehow vulnerable for some manipulations?

maybe people will find ways to abuse your mechanism somehow

K | Owner of Kerberos Finance: Absolutely, some whales can manipulate the $KBRF price, but it’s only temporarily. Thanks to buyback&burn, the total supply will become more and more scarce & valuable in the long term period

D. | Satoshi Club: understood

i think we go to the next question, ready?

K | Owner of Kerberos Finance: Yeahh

Q4 from Telegram user @Jonahapagu

The kerberos Finance team started from betabros community….this is the first time I’m hearing about betabros… what is this betabros project all about and what responsibilities did your team have when they were with betabros community and why did they decide to create a different project outside betabros

K | Owner of Kerberos Finance: It’s hard to say, well, betabros represents for yfbeta – an interesting Defi project launched on Sep 2020

Unfortunately that yfbeta project can be marked as dead atm, when the main dev left

we started and resolved what yfbeta couldn’t finish with $KBRF

Gold Rocket | Satoshi Club: Nice!

K | Owner of Kerberos Finance: The reason why we didn’t take responsibility for developing yfbeta continually is the main dev has rugged betabros

so zero trust now

Gold Rocket | Satoshi Club: it happens in the crypto world. the main thing is to make the right conclusions in time

D. | Satoshi Club: oh, that’s very sad

Gold Rocket | Satoshi Club: Thanks for the answer!

K | Owner of Kerberos Finance: anw betabros is one of the best community our team’s joined

very friendly & constructive

D. | Satoshi Club: yep, sadly, there are so many rugs in DeFi world, but at the same time lots of good community projects as well.

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

K | Owner of Kerberos Finance: My pleasure

Q5 from Telegram user @NataliyaKil

Your site has 2 buttons: 1. Join the pre-sale and 2. Try the beta. After clicking them, I received the following response from the platform: “The transaction is not supported in the mobile browser. Use a desktop browser instead.” In the modern world, mobile communications are practically the first in terms of use, because they are affordable. Accordingly, mobile versions of sites are welcomed first of all. What solution can you offer me in this situation if I want to use the mobile version?

D. | Satoshi Club: lots of people in the world don’t have PC or laptops

Gold Rocket | Satoshi Club: do you have a mobile app in your plans?

K | Owner of Kerberos Finance: Nice question

Fin, FE dev & Grace, designer are taking responsibility for developing our website v2.0 with simple UI & UX

About the warning “The transaction is not supported in the mobile browser. Use a desktop browser instead.”, our beta vaults support Metamask wallet & WalletConnect for depositing only

Gold Rocket | Satoshi Club: @NataliyaKil still there is a solution for you

K | Owner of Kerberos Finance: with many steps of depositing/withdrawing, it’s unsecure & not convenient when using mobile version, so we decide not to release mobile version at the same time with website v1.0

Gold Rocket | Satoshi Club: @kbr_fi next question?

K | Owner of Kerberos Finance: Fin & Eden should look out hahaaa

Readyyy

Q6 from Telegram user @Pratze

You said that Kerberos using Compound Strategy for yield farming. Compound Strategy offer a different pool to each token, that also mean deposit and with drawn completely independent, but can you give explanation why did you use this strategy? What is the benefit for both user and kerberos?

K | Owner of Kerberos Finance: I remembered that someone has asked Eden this question already

This strategy not only helps us analyze the interest and choose the right way easier at the beginning, but also implement buyback & burn mechanism more effectively. Additionally, investors/farmers can benefit from the optimal APY

Gold Rocket | Satoshi Club: Share links please on this issue

K | Owner of Kerberos Finance: Let’s check it our if you all have time: https://docs.kerberos.finance/kbrf/how-kerberos.finance-works/

Gold Rocket | Satoshi Club: Thanks a lot!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @bathulosnom

Kindly tell me about the second token. You said that there will be no team token and no pre-sale. If there is no pre-sale than how can I get $KAIDES token?

K | Owner of Kerberos Finance: Many people concern about $kAIDES

kAIDES is a fully decentralized blockchain gamification & a part of Kerberos Finance platform. Refer: Docs

You can own$kAIDES through 2 ways:

– Buy it on Uniswap after listing

– Own more than or equal to 5 $KBRF. Our teamteam will snapshot all $KBRF holders with a 5+ $KBRF balance after 1 week of $KBRF Uniswap listing. You can claim kAIDES corresponding to the amount of $KBRF you own.

Q2 from Telegram user @Nickkiii

Give us more details on the $KBRF presale, what form of cryptocurrencies would be accepted for investing, how many rounds, what are the minimum and Maximum capital allowed for investment ?

K | Owner of Kerberos Finance: The pre-sale is starting on Wednesday the 16th of December and ending on Thursday the 31st of December at 4:00 PM UTC. We will be distributing 10,000 KBRF. Until the 24th of December the price will be 0.04 ETH. After the price will be 0.045 ETH per KBRF.

Presale URL: https://presale.kerberos.finance/

Token allocated: 10,000 KBRF

Conditions: 0.1 ETH min. & 5 ETH max. per address

HC: 400 ETH & no SC. You can find more here

Q3 from Telegram user @cryptovgh

You have mentioned in your article that

•  No Pre-sale.

•  No Dev Fund.

•  No Marketing.

Is this mentioned only for kAIDES ? Because according to your website KBRF pre sale is live now. Please explain this @kbr_fi

K | Owner of Kerberos Finance: We have introduced 2 products:

– $KBRF: Yield Farming, Staking and more.

– $kAIDES: Fully Decentralized Gamification.

Pre-sale is live now with $KBRF, the article you read is for $kAIDES

Q4 from Telegram user @Winterkom

–  Are there any benefits or incentives for users to try the Kerberos testnet? When the official launch of this platform occurs, will there be any kind of reward for early adopters?

K | Owner of Kerberos Finance: We always encourage the constructive ideas, and ready to pay through community fund

Q5 from Telegram user @kathdm

After Thursday the 31st of December at 5:00 PM (UTC) users will be able to claim their purchased KBRF by clicking the claim button on the pre-sale page. Is there any incentive you offer for users to hold their long term tokens and not sell them instantly?

K | Owner of Kerberos Finance: Our listing plan:

$KBRF: when reach the HC or Dec 31 2020

$kAIDES: Jan W2 2021

$KBRF holders can farm with attractive APY & receive $kAIDES as well

Q6 from Telegram user @Antoni_azx

KERBEROS has destined a part of 19000 tokens to be added to the Uniswap liquidity lock. The specifific amount for this part is not detailed in your litepaper. How many tokens do you plan to put in the liquidity locked pool and how long will be locked?

K | Owner of Kerberos Finance: Thanks for your concern, we will update the docs

19,000 tokens:

– 10,000 for pre-sale

– 2,000 for betaswap

– 4,000 for Uniswap listing

– 3,000 for community

Liquidity will be locked 1 year

Q7 from Telegram user @cryptovgh

Where is this project name (KERBEROS) coming from ? And also there are 3 foxes in your logo. What is the meaning of this logo and the project name? and what is the relationship with foxes to the project?  @kbr_fi

K | Owner of Kerberos Finance: hahaa, interesting question, Grace should recheck her design

Kerberos is our mascot, Kerberos aka Cerberus referred to as the hound of Hades (Áïdēs) in Greek mythology, a multi-head dog that guards the gate of the Underworld.

It symbolizes for power and responsibility

Q8 from Telegram user @SutedjaDian

You said that contract will be audited by Trail of bits and CertiK. Why two company? Fine you think that it will cost extra money? When staking program will launched?

K | Owner of Kerberos Finance: We’ve contacted both of them, and will consider which’s better

Q9 from Telegram user @Alika061

How long will liquidity be locked by the $KBRF toke and does the #KarberosFinance team get rewarded if for example your team provides liquidity when registered on Uniswap later, then does #KarberosFinance itself not hold a pre-sale then how much is the amount of support in tokenomics to share the $KBRF token ?

K | Owner of Kerberos Finance: $KBRF Liquidity lock: 1 year, and the reward will be depositing into vaults, not dev fund

Q10 from Telegram user @jangrihwa

Why does Kerberos Finance have members consisting of Eden, Fin, Grace and the initials K. How did you come together in making the Kerberos project?

K | Owner of Kerberos Finance: We’re worked together for a long time in blockchain field, so we can work collaboratively and without any distance

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: https://t.me/kerberos_finance/

We are pleased to announce our next AMA on December 21st 2020 at 06:00 PM UTC Time: Satoshi Club x MirrorBASE Protocol

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join MirrorBASE Protocol 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 100 seconds. You can post Max 3 questions. MirrorBASE Protocol Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about MirrorBASE Protocol

For more details:
MirrorBASE Protocol – @mibaseprotocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

PART 1. Introduction of Coinrexi project and community questions.

Hello, Satoshi clubbers and guests of this site. We are pleased to present you a project called Coinrexi.
This crypto project has several products that are being developed to bring cryptocurrency to e-commerce. The primary product of development has been the CR token, which is used to facilitate transactions for products, goods, and services. Another product that has been developed is the Coinrexi Marketplace; this is a decentralized platform where users can buy or sell products using CR tokens and other cryptocurrencies like BTC and ETH, Additionally, COINREXI (CR) is actively developing a revolutionary mobile mining app that enables smartphone users to mine CR token by simply downloading the Coinrexi app on their device.

The plan of AMA session:

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

The reward pool is 600$

The AMA presenters are our smart and fun administrators:

Mary | Satoshi Club – @madamlobster and D. | Satoshi Club – @Cool_as_Ice

The Representative of the project:

Lisa Green – @lisagreencoinrexi – Group moderator @coinrexi Crypto expert | investor | Consultant

Introduction of Coinrexi project

Mary | Satoshi Club:

Hello, Satoshi Club! We are happy to announce our AMA session with Coinrexi! Welcome to Satoshi Club😀

D| Satoshi Club:

Hello Satoshi Club! 👋 @Alexandertimayev @bryaniAndre how are you doing guys? 😊

Lisa Green:

Hello everyone

Mary | Satoshi Club:

Hello and welcome here 😀 How are you today?)

Lisa Green:

Thank you. We are good today and you?

Mary | Satoshi Club:

I am fine as well! Let’s start our AMA)

Lisa Green:

Alright

Mary | Satoshi Club:

Could you please introduce yourself and Coinrexi project? 😀

Lisa Green:

Ok, I’m Bryan Andre the project manager for Coinrexi.

Coinrexi is the project developed to cut costs on transactions and speed up the processes involved in transactions. Removing every form of third party payment integration making the process less stressful and easy to use.

Lisa Green:

With me is our COO Mr. Alexander

Mary | Satoshi Club:

Great😀 it’s ambitious) Sure, he can write in the chat also😀How old is Coinrexi?

Alexander Timayev:

Hello Mary.

Mary | Satoshi Club:

Hello, Alexander😀 How did you get involved in Coinrexi?😀

Lisa Green:

Coinrexi has been a plan for about a year now, but we stay making moves in September this year.

Mary | Satoshi Club:

Got it😀 nice moves👍

Alexander Timayev:

Well, I’m the chief operating officer.

D| Satoshi Club:

Sounds good! 👍 thank you for the intro guys! are you ready to hear questions from Satoshi Club? 😊

Lisa Green:

Seems Alexander wants to give us a full description of himself 😊

Mary | Satoshi Club:

Oh, of course 👍

D| Satoshi Club:

Sure! we can wait 😊

Alexander Timayev:

We started this project in September. I met my partner Bryan at a crypto conference in the UK. we had the same goals to develop a token that makes transactions seamless.

D| Satoshi Club:

Nice! awesome goal! transactions on Ethereum are very painful for everyone now😄

Mary | Satoshi Club:

Yes, I see conferences bring us a lot of great ideas and partnerships 😀

Mary | Satoshi Club:

So, guys, ready to start with the questions from our community? Yeah, since the growth of blockchain technology. Many people have been trying to solve second order problems that may arise in the world of digital currency. So we started this project looking forward to making a huge impact on the market.

Lisa Green:

Yea. We ready for the questions let’s begin 🚀🚀

D| Satoshi Club:

Let’s gooooo!

Preselected questions about the Coinrexi.

D| Satoshi Club:

Q1 from Telegram user @yiselen

I understand that participants who write up for the pre-sale will receive 5x $ CR token as an air-launch in the Token distribution that will be on January 1, 2021, what requirements should I meet to participate, and when this distribution would be interchangeable?

Lisa Green:

Yea this is for investors who participated in the presale and purchase up to 10eth worth of $CR we will be using this as an Airdrop to investors with large some of the token in their possession.

Mary | Satoshi Club:

So, it will be like a very sweet bonus)

Lisa Green:

Also with the launch of our marketplace by January, this will be great to start getting the token globalized.

Alexander Timayev:

Yes, sure.

D| Satoshi Club:

Your presale is running now?

Lisa Green:

Yes it’s on already

Mary | Satoshi Club:

Great, so everyone can join and get Airdrop later😀 if they can afford 10ETH, of course)

D| Satoshi Club:

You can drop a link in the chat if you want about pre-sale and details.

Alexander Timayev:

https://coinrexi.io

Lisa Green:

🚀COINREXI $CR Presale is LIVE.

Coinrexi is an e-commerce based token that is designed to help bridge the gaps in transactions.

Learn more about the project in this blog:

https://coinrexi.medium.com/overview-of-the-coinrexi-whitepaper-5fba92b1e080

💡 TOKEN INFORMATION:

▪️Project Name: Coinrexi

▪️Symbol: CR

▪️Token Blockchain: ERC-20

▪️Total Supply: 100,000,000 CR

▪️Features: Decentralized finance, liquidity mining

💡 TOKEN PRESALE DETAILS

Presale Supply: 20,000,000 CR

Presale Price: 0.000049 ETH (21300 CR = 1 ETH)

contributions.

Softcap/Hardcap: 300 ETH/1000 ETH

✔️Min/Max Buy: 0.3 ETH/200 ETH

💡 Connect with us on our official social media channels:

Follow us on Twitter:

https://twitter.com/coinrexi

Join our official Telegram Group: https://t.me/coinrexiupdates

Mary | Satoshi Club:

Thanks😀

Lisa Green:

This is a full and detailed overview of the presale

D| Satoshi Club:

Nice! thank you for your answer! I think we can go forward to the next question?

Lisa Green:

0.3 eth is the minimum purchase for the presale. Ok 👍

D| Satoshi Club:

Q2 from Telegram user @Cakelov

From your whitepaper, I read that you want to create a place like eBay, Amazon, etc which bring together buyer and seller in one convenience marketplace using payment Coinrexi Token, actually, it’s really nice but are there any requirement for the seller to join in your platform? Or all sellers from around the world can join in Coinrexi marketplace? How did Coinrexi choose their alliance (seller) to join? because its possible some of them are trying to scam the buyer

Lisa Green:

This is the core value of Coinrexi as a project built with blockchain technology, considering the existing platforms Coinrexi is bringing a different view to e-commerce.

1. Adding blockchain to the e-commerce process
2. Transparency in transactions from buyers to sellers is to stop every form of scams

Mary | Satoshi Club:

Will you have any special requirements for sellers to join?

Lisa Green:

The requirement will be close to that Brave browser, that is facial identification, ID card of state, or driver’s license.

Mary | Satoshi Club:

Got it, thanks!

Alexander Timayev:

Well, there are currently no requirements for sellers to join. They only have to choose CR as their medium of payment. Since our goal is to make transactions on e-commerce seamless for our customers, we only choose sellers that are willing to accept CR as their only medium of payment. So with this in place transparency in transactions can be achieved so there won’t be any scams.

D| Satoshi Club:

Ok, got it

Mary | Satoshi Club:

Ready to go to the next question?

Lisa Green:

Yes

D| Satoshi Club:

Q3 from Telegram user @KevSalom

Since $CR is a token that works with the Ethereum network, it is mandatory to ask: How much will be the fee for each transaction? How expensive will it be to pay with $CR in any business (physical or digital) that accepts this token with a payment method?

Lisa Green:

The fear of gas fees is what many people have talked to us about, but our plan is to collaborate with other large e-commerce platforms to increase the transaction speed which in turn will reduce the expenses for our customers

D| Satoshi Club:

How you will do this? Do you have a new approach and technology?

Alexander Timayev:

Just like how the lightning network creates a smart contract between two users that’s secured with initial capital deposited on the blockchain. Any disputes which come up will be settled automatically, this technology will be adopted and will speed up transactions heavily.

Alexander Timayev:

Just like the bitcoins SegWit, we will take similar measures to speed up transactions, which inherently results in lowering the overall transaction fees. we will also consider building networks that would rapidly process transactions and reconcile them.

Mary | Satoshi Club:

Thanks, guys! Ready for the next question?

Lisa Green:

We’ll just have to say it here, we’ve already partnered with three large platforms in the space Jumia an Africa giant in e-commerce, and two others in Asia. We are currently working on our API which will be used as a for payment on their platform by next year. Our developers are on this as we speak. Yes.

D| Satoshi Club:

👍 Great!

Q4 from Telegram user @samuelstook

According to your whitepaper, Coinrexi claimed that “Our members’ privacy is of the utmost importance”. In the next chapter, in the Solutions for sellers section, there are Advanced Customer Analysis Tools, which are mechanisms to constantly gather, analyze, and process customer data. Aren’t those two sentences a contradiction? How do you secure buyer privacy while you provide analysis to the seller using this data?

Lisa Green:

Yes, that’s true. Every application that will be used in the Coinrexi market place will be developed by our developers, this is to ensure security for our customers, every data in the system is only available to the community

D| Satoshi Club:

How many developers in your team?

Lisa Green:

We have a team of 8 members working with us, 1 Blockchain developers, 2 web dev’s, 1 project manager than the others are the co-founders.

D| Satoshi Club:

Good number. you have all people you need to make a good product 👍

Lisa Green:

Thank you

Mary | Satoshi Club:

And I found on your site these🤷 80 team members?

Lisa Green:

Wow this is quite a typo from our developers

Mary | Satoshi Club:

Oh, got it😂

Lisa Green:

It’s 8, not 80 sorry guys

Mary | Satoshi Club:

Thank you! Ready to go to the next question?

Lisa Green:

Thank you for that. Yes.

D| Satoshi Club:

Q5 from Telegram user @Arisabela

In your whitepaper tokenomics for $CR, 400% of tokens are destined to the team. Wow! That’s a huge percent. Is it a mistake or something? By the way, how big is your team?

Lisa Green:

That’s 40%, not 400%  we’re just eight in number for now although we have plans on adding more members in the future

Mary | Satoshi Club:

Oh, some typos. I see, this question was partially covered before, so, can we go to the 6th and last from this part?

Alexander Timayev:

We are really sorry about that 🙏🙏

Lisa Green:

Alright continue

D| Satoshi Club:

Q6 from Telegram user @GoldRocket27

I was interested in the fact that you want to release a mobile mining application, but at the same time, you say that it is not really mobile mining. Please clarify how much the smartphone will be loaded, what will determine the number of coins received?

Lisa Green:

Most people get confused 🤷‍♂️ with this part, alright it also under our 12% airdrop for the community to be mined with their mobile phone. Thank you for the questions.

Mary | Satoshi Club:

And thank you for your answers 👍 Ready to go to the live part?

Lisa Green:

Alright.

D| Satoshi Club:

Thank you, guys! now we go to the second part – live questions! We will open chat for 120 seconds.

Mary | Satoshi Club:

Let’s go 🚀

PART 2.Questions about the Coinrexi project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 100 seconds. Then the guests from the Coinrexi project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @Winterkom

The CoinRexi team wants to develop an app that allows you to mine $CR directly from a smartphone, my question is, is this really effective on mid-range smartphones?

Alexander Timayev:

Yes, it will be. it will be optimized to work on mid-range smartphones.

Q – 2 from a telegram user @justgata

The Coinrexi Marketplace plans to launch in January and February 2021, and it is defined as a decentralized version of eBay or Craigslist. What type of products will be available in the Coinrexi Marketplace? What currencies will be available to buy and sell these products? Can only the CR token be used?

Lisa Green:

The market place is full e-commerce every category in the live market place will be featured with time.

Q – 3 from a telegram user @DiegoRME

I have not yet bought my CR tokens but I don’t know how I can obtain these tokens, so can you tell me the steps to participate in your presale and what would be the price of the token, and what would be the minimum amount I can buy?

Alexander Timayev:

Okay, you can buy our token on our website.
STEPS
FOR METAMASK USERS

1. Click on Your MetaMask Extension and connect your MetaMask wallet with this web page and refresh the page.

2. Enter an amount of ETH you want to invest, then click “BUY CR” Tab and confirm on MetaMask.

FOR TRUST WALLET & MEW WALLET USERS

1. Send ETH to the COINREXI (CR) Presale address “0x8dd2f84C4d2E5D6E0Cb3F14A6Fa8cc20c936798d” from a non-custody wallet (MEW, Trust wallet, Metamask). Do not send Eth from an exchange.

Q – 4 from a telegram user @leixagarcia

The CR mobile application will allow us to extract the CR token simply by downloading it. Will this be forever? Or is it a temporary promotion to win more users?

Lisa Green:

This is to increase our user base, it not forever it’s about 12% on our token metrics.

Q – 5 from a telegram user @PyaraLarka

Ethereum gas fee is so high for ERC20 tokens at the moment so what are the minimum limits to buy $CR tokens in pre-sale?

Alexander Timayev:

0.3 ETH is the minimum.

Q – 6 from a telegram user @Smartosky1

You said earlier that you’ve collaborated with the Jumia online store in Africa, will you also have physical stores so as to also positively impact the non-crypto market?

Lisa Green:

Our API comes with a web3 integration so that will be added to the Jumia application to enable any crypto user to purchase products with our token.

Q – 7 from a telegram user @Alika061

When can operators start accessing the platform and registering for the #CoinRexi network and when
will be the launch of the #CoinRexi market, then how will investors benefit when following the pre-sale of the $CR token, has the $CR token issued a price for the $CR token?

Lisa Green:

Ok, right now the minimum price is 0.3eth for investors who purchase with up to 10eth as we have promised 5x on distribution which is on 1st of January 2021.

Q – 8 from a telegram @cryptovgh

In E-commerce recently we are facing the issue of inflation. How are you going to overcome this major issue with CR? Do you have any plans to overcome this?

Lisa Green:

This is why the project was developed to solve all this issue of inflation, what ever price a product has in the market place won’t be tempered due to inflation.

Q – 9 from a telegram user @adamlike

Bitcoin has very old tech and inefficient in energy usage. Can you tell me what techs make Coinrexi better than its competitors??

Alexander Timayev:

we are aware of this and we are working towards that too. how are we doing this?……..we are going to adopt proof-of-stake validation instead of the proof of work which consumes more energy. This proof of stake involves giving a person validation or mining privileges that relate to how many cryptocurrency coins they have. when people start to take part in the method, then cryptocurrency will have to surrender to do so, similarly to holding them in an escrow account. so if people fraudulently validate a transaction on the blockchain, they lose their staked coin, and also their ability to approve future blockchain entries.

Q -10 from a telegram user @Missqueen2601

Currently, most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice on why they should buy and hold this token/coin in the long term?

Alexander Timayev:

Well, from the direction the world is going to. buying CR tokens will give you the power to make transactions on our e-commerce platforms. we will also take actions that will align with the client’s risk and return profile. we will adopt decentralized asset management which will focus on investment advice.

Part 3 – Quiz about project

In the final part, we would like to check your knowledge in terms of the Coinrexi project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 400$ 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: Coinrexi

Telegram group  |  Telegram Chanel  |  Tweeter  |  Website  |  Medium  

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 SMARTS Finance and our guest were Hillary Sam and Anthony Paul. The AMA took place on 15^th December.

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&Bitcointalk community

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with SMARTS Finance! @hillary_smat @Anthony_bit welcome to Satoshi Club

D. | Satoshi Club: hello Satoshi club!

@hillary_smat @Anthony_bit hello and welcome!

Hillary Sam | Smarts.Finance: Thanks we’re glad to be here

D. | Satoshi Club: nice to see you here!

Mary | Satoshi Club: How are you today?

Anthony Paul | Smarts: It really nice to be here.

Hillary Sam | Smarts.Finance: Very good. How about you Mary?

Mary | Satoshi Club: I am fine, thanks! As you all are here, could you please introduce yourself and SMARTS Finance to our community

Hillary Sam | Smarts.Finance: I’m Hillary Sam, and my colleague is Anthony Paul. We’re the co-founders of SMARTS Finance.

Mary | Satoshi Club: You have 2 founders or more?)

Hillary Sam | Smarts.Finance: We have just two founders.

And a number of team members.

D. | Satoshi Club: nice to meet you guys! so what is your project about?

Hillary Sam | Smarts.Finance: Our Devs are three in number and they are experts from Spain.

Ride along with us as we take you through what Smarts Finance is all about.

SMARTS Finance is an innovative DeFi platform which offers services and products aimed at providing an autonomous, flexible money market on the ethereum blockchain

SMARTS Finance offers a sustainable model to token holder via

– A burning deflationary model

– Buyback mechanism using fees accrued from trading

– Distributed gas fee to minimize transaction cost by 100x folds

– Additional vesting of distributed tokens to minimize sell pressure in the open market

SMARTS long term vision is to add more value to the DeFi frontline via the power of community engagement, transparency, easy integration and adaptability. Also SMAT tokenomics is designed to be sustainable overtime because aside tokens apportioned for team, all generated fees and funds will be directed towards the project use and promotions which will see SMAT token appreciate over time especially for long term holders.

In a nutshell, Smarts intelligently combines all this strategies to deliver the biggest APY to investors

Done

D. | Satoshi Club: thanks!

Mary | Satoshi Club: Your vision is clear thank you for intro!

Hillary Sam | Smarts.Finance: Your welcome

Mary | Satoshi Club: And you will have possibility to explain more about SMARTS Finance while answering our community members questions  ready?

Hillary Sam | Smarts.Finance: Yes. Very ready.

Q1 from Telegram username @Ubik1337

I have read your Medium article about Token Generation Event. In this article you inform, that you will held 2 TGE events and for both those events you will minted 250000 SMAT. My question is – when are the rest tokens will be minted? If consider that at start your total supply, should be – 550,000 SMAT, as written on your website. Thanks.

Anthony Paul | Smarts: Permit me to come into the conversation and address the questions

D. | Satoshi Club: yes, please!

Mary | Satoshi Club: Of course

Anthony Paul | Smarts: Yes, 250k SMAT tokens are allocated for our TGE, which is 25% of the Maximum Supply (1M).

10% which is 100k tokens is allocated to the team and this will be vested for 2 years.

Also, 15% and 5% are allocated for Uniswap liquidity lock and Marketing respectively. The cumulative of these gives 550k tokens which is the Total Supply.

The remaining 45% of the Maximum Supply will be minted bit by bit as a reward for Liquidity providers, stakers, lenders, and those who take part in the Smarts governance.

Mary | Satoshi Club: Do you have dates when this event will take place?

Hillary Sam | Smarts.Finance: Are you referring to the Token Generation Event?

Mary | Satoshi Club: To all events

I mean minting

Hillary Sam | Smarts.Finance: Okay good

Our Token Generation Event will commence later today by 6:30pm UTC.

D. | Satoshi Club: nice! pretty soon

Mary | Satoshi Club: Ok, got it, thanks

D. | Satoshi Club: so all 550k tokens will be minted today?

Hillary Sam | Smarts.Finance: Minting of tokens allocated for stakers, liquidity providers etc. will take effect when we start launching our DeFi products and services which is timelined to start launching in the last quarter of 2020 and first quarter of 2021 according to our Roadmap.

Mary | Satoshi Club: So, you don’t have exact dates?

Hillary Sam | Smarts.Finance: Nop. Only 250k tokens is allocated for our TGE.

D. | Satoshi Club: ok, got it

Hillary Sam | Smarts.Finance: The dates will fall between now and the first quarter of 2021

Mary | Satoshi Clubadmin: Understand ready for the next question?

Hillary Sam | Smarts.Finance: Yes

Q2 from Telegram username @reinleoken

The APY yield is going to be announced when the dashboard goes live, but what percentage of APY can we expect, just give us a rough estimate? And lock in period too is yet to be announced, is there going to be penalty for leaving pool before the end of the lock in period! If yes what sort of penalty are we looking at?

Anthony Paul | Smarts: There is a need to conclude the TGE (Token General Event) before the reward allocations and distributions are released. For the sole reason of knowing the amount to workaround (in case there are some significant amount of token left out during the event).

We have a figure already with the potential to yield at least 200% APY for the first few weeks before the rewards are spread out on other products. This means participants of our liquidity program will be exposed to potentially higher rewards in the earlier days.

For our liquidity mining program, we have revised the lock-up period initial set at 6 months to 3 months in order to give flexibility to user’s open interaction as much as possible. The lock-up period was put in place to ensure stable liquidity is available for a decent amount of time. After this phase is concluded, withdrawn liquidity will compensate from the project reserve and resource.

Mary | Satoshi Club: Nice APY:

Anthony Paul | Smarts: Yes, it will be available for early participants.

Mary | Satoshi Club: And what about penalties? Or possibility of leaving pool?

Anthony Paul | Smarts: The pools will be locked up for 3 months.

There won’t be the possibility to leave the pool until the unlocking period

Mary | Satoshi Club: Oh, it’s clear  thanks

Ready to go forward to the next question?

Anthony Paul | Smarts: Also concerning our staking products, our whitepaper explains the staking periods and their distribution time.

Yes please.

Q3 from Telegram username @Highpee

Smart contracts are vulnerable to bugs, and even recently big DeFi projects were victims of this, with such security breach resulting in unplanned financial harm. How is the security system in Smarts Finance smart contracts? I am asking because in one of your recent interview, you said you are tackling this issue by making a deep assessment of your smart contract and ensuring it pass certification by your internal audit CTO. Do you you think internal audit alone is enough? Don’t you think you should partner other professional bodies such as slowmist, certik or others to audit your smart contacts?

Anthony Paul | Smarts: We are aware of the huge role security play in the success of every entity, most especially blockchain-based projects that are operating around the DeFi concept, and we know that managing it comes with a lot of responsibility. Security is #1 priority for us, and that is why we are engaging the services of well qualified developers in this area with conversant knowledge of blockchain for the development of our Smarts Contracts and products.

Yes, we said in one of our recent AMA that part of the security measures we’ve taken was making a deep assessment of our contract with confirmation that it is safe to interact with by our CTO.

Mary | Satoshi Club: Also, in your audit report you’re referring to this link https://github.com/SmartsFinance/smart/  , but it’s empty. Can you clarify about this?

Anthony Paul | Smarts: However, we also stated in that AMA that we will be engaging the service of professional bodies such as Certik to ensure the utmost safety of our Smart contract as we will be leaving no stone unturned.

Mary | Satoshi Club: Ok, that’s great, that you understand its importance

Anthony Paul | Smarts: I don’t think that is the right link

Let me fetch it over here

Mary | Satoshi Club: Yes:

I mean this

Anthony Paul | Smarts: Yes, that’s the file.

Or are you referring to the disclaimer?

Mary | Satoshi Club: I mean that you are referring here to your github and it’s empty. May be you have another link or you have some troubles with your github page?

Anthony Paul | Smarts: https://github.com/SmartsFinance/smart-contracts/

The Github is working fine

D. | Satoshi Club: yeah, this link works

Mary | Satoshi Club: Oh, then you put wrong link in your report now i see, that it’s ok!

Thanks, ready for the next question?

Anthony Paul | Smarts:Yes

Q4 from Telegram username @abujoans

SMAT is The governance tokens power the blockchain-based voting in Smarts ecosystem . They are often used to signal support for proposed changes and to vote for new proposals. For example MKR in Maker Protocol. Are you planning to issue other tokens like the Maker project at Smarts Ecosystem?

Anthony Paul | Smarts: For the visible future, we are not planning to launch additional tokens. SMAT will be the primary source under which all ecosystem functions and interactions will be footed.

It is the basis of value generation and distribution. SMAT will oversee governance function and their execution. It represents the mantle of power users in the network can use to influence how

• Operations are led

• Rules are set and

• The possible direction the project should take.

Mary | Satoshi Club: So, your users won’t be able to vote for new tokens launch?

If they will feel that there’s a need for them)

Anthony Paul | Smarts: If the need to do that arise and the community approve that, then that will be done.

But for now there is no tangible reason to issue additional tokens.

Mary | Satoshi Club: Nice

Yes, you just started, but we are talking about possible future plans

Ready for the next question?

D. | Satoshi Club: but people (your users) might be not understand your conception and how things in crypto work, don’t you afraid that they can bury the project by their decisions?

Anthony Paul | Smarts: Yes. If the need arise and is good enough to issue a new token then we may do that.

The governance function will have a set of rules which means only valid points can be expressed and established as there will be a consensus before a notion is put to its execution.

Yes please.

D. | Satoshi Club: got it, thanks for answer

Q5 from Telegram username @Fahruqh1

Everyone thinks that a successful blockchain or cryptocurrency project is measured by the price of their token and is less concerned with technology and its adoption in the blockchain world afterwards. So for SMART what success targets will soon be achieved beyond the price side?

Anthony Paul | Smarts: The keyword is “A Sustainable Ecosystem”.

Our long term vision is for Smarts Finance to remain relevant within the DeFi space without jeopardizing but rather improving on the basics and fundamentals of existing trends in the decentralized finance niche.

For us to achieve this, we need to build a sustainable ecosystem where users are given access to all available DeFi Services without any difficulty.

Mary | Satoshi Club: That’s Smart Finance goal, right?

Anthony Paul | Smarts:Yes. To build a sustainable system.

One way we can effect that is through a well-defined reward distribution model. As such, we will be introducing additional vesting of the newly distributed tokens given to investors as a reward for providing liquidity to keep the SMARTS Tokenomy healthy.

Mary | Satoshi Club: Ok, may be you have favourites in DeFi system who are like guiding stars for you?

Anthony Paul | Smarts: Another is by increasing the rate of adoption as a continuing interest in the project will ensure it keeps surviving and performing well.

Mary | Satoshi Club: Yes, community is a big force for project

Anthony Paul | Smarts: Compound gave viral use to DeFi and it’s concept, so they are body to be referenced.

We love Aave and Core too

Mary | Satoshi Club: Good choice

Anthony Paul | Smarts: Even though no system is perfect, what we aim to build upon are more use-case and dynamics to the already laid solutions.

Mary | Satoshi Club: Good luck with your own way, hope you will find your own amazing solutions

D. | Satoshi Club: definitely. thank you for answer! ready for the last question from this part?

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

Anthony Paul | Smarts: We are so committed to doing that.

Yes we are

Q6 from Telegram username @Coin4me

DeFi products and services are still at an experimental phase and call for cautions in their handling. Always afford to make your research and invest what you can afford to lose when you interact with their different components. Although, Smarts Finance will employ the versatility and experience of accredited auditing firms to ensure the safety of our contracts. Nevertheless, we cannot guarantee they won’t misbehave from faults due to bugs or other uncertainties. Use the products with care.’ I found this statement is posted on your site and as stated you are taking off any SMART Finanse’s responsibility for your users funds loss. Maybe, after all, members of your community and investors deserve, for example, insurance of their investments?

Anthony Paul | Smarts: DeFi is a relatively new form of financial system built on top of the blockchain. The fact that it is new explains why it comes with a lot of risks which might be as a result of bugs and uncertainties, and as you know no software component is entirely free from bugs.

Mary | Satoshi Club: That’s true

Anthony Paul | Smarts: In a bid to maintain transparency,  the information on our website is there majorly to sensitize our investors about the risks which comes with investing in the DeFi market despite the mouthwatering reward it offers.

Mary | Satoshi Club: So, just on their own risk, right?

Anthony Paul | Smarts: And no we don’t offer insurance. But will ensure we keep to the best security practise to make sure contracts and code are safe to deploy and use.

Our dev team have their major versatility in cyber security and protection and with such possession, we have the confidence to produce good products that are safe to interact with.

Mary | Satoshi Club: Got it

So, i wish you no bugs, just profits

Are you ready for the live part?)

Anthony Paul | Smarts: Lols.. Thanks.

Part 2 — live questions from the Telegram community

Q1. from Telegram user @KevSalom

I was very curious to see you say that you have “a distributed gas rate to minimize the transaction cost”. What does this mean? Is the rate divided among several transactions or something similar? And if so, wouldn’t this affect the speed of each transaction?

Anthony Paul: What this means is that. We want to limit the barrier to entry by finding a solution to one of the major concerns of the Ethereum blockchain.

What blockchain is set to do is to set people free from the traditional ways not try to enslave them more to it. And as you know it, we are enslaved to fees of all kinds in conventional settings.

We want to minimize this by providing low gas costs on certain products we can effect and integrate this into.

One way we can achieve this is by pooling deposits together and submitting them via a single transaction.

Q2. from Telegram user @AugusS7

the only benefits of being ported from SMARTS are “Smarts Staking, Smarts Lending & Borrowing, Liquidity, Mining and Agriculture”? Or really in the long term could they have even greater benefits, because of new applications developed?

Anthony Paul: We plan to add additional products that can benefit the system and users alike. We are restricted to pronounce such products right now as they are still in their planning phase.

 The aforementioned products are the services we offer.

Q3. from Telegram user @paul_adebayo

A lot of project are being abandoned because the developers cannot achieve the required capitalization. How can you make the project sustainable for its development

Anthony Paul: There are various mechanisms we have laid out to make the project sustainable. Our upcoming TGE which is happening at 18:30 UTC is one of the means we can acquire resource to ensure the project run for as long as possible.

Different decent marketing outlets have contacted us and we know working with them will give us the right exposure and usage we need.

Q4. from Telegram user @JesusFre1tes

Q: Blockchain allows the need not to trust, but to verify. The network contract and token permission implementation function with SMARTS FINANCE is located with unrelated members through a multi-signature functionality. How efficient is this method? Why not use an AI or bots as many other projects have done?

Anthony Paul: A function of such should be handled by humans.

I do not think AI has been effectively used or applied to such use-case.

Our multi-sig functionalities are handled by users who have the capability and sense to ensure its safety and usage.

The main purpose of the multi-sig usage is to make sure we operate in the TRUSTLESS way possible and prevent the possibility to rug or misuse resource.

Q5. from Telegram user @araceley

Was any major issues or vulnerabilities reported after the internal audit done by your CTO?

Anthony Paul: No. No vulnerability was found. The report of the audit is right in the chat during the first phase of questions.

You could read it’s content to confirm it’s authenticity.

Q6. from Telegram user @Reinleoken

Propose the listing of a new token market.” Aren’t you concerned that sketchy elements could accumulate $SMAT and use the vote to vote in sketchy tokens on your platform? Is there a system to prevent accumulating smart token?

Anthony Paul: This is a possibility. And we are planning to build a governance system that would thrive to mitigate bad practices and whale influences of many kinds.

Q7 from Telegram user @Alika061

Will it be registered right after the sale. Or it lists immediately when the hard cap is reached for the $SMAT token and when will the liquidity mining campaign start at #SmartsFinance? What to expect in the next quarter of 2021 in the last #SmartsFinance roadmap Do you have the roadmap.

Anthony Paul: The liquidity mining program will start along with our listing.

The contract is ready and at the final stage to be deployed.

To ensure there is an equal entrance to all participants. Deposits into the contract will be made before the token is listing at a set rate (which is the listing rate).

These are some of the measures put in place to ensure LPs are not exposed to very high price volatility which may affect the integrity of the pool.

Q8. from Telegram user @Antoni_azx

$SMAT holders will be able to redefine reward structure and their distribution. How often can be this changes made and what happens if a proposal gets less than 50 votes? Is it discarded forever or can be putted in the table again?

Anthony Paul: Yes, they will be able to vote for the rules and terms.

More information on how the governance system will work will be released when it is out for use.

Q9. from Telegram user @AmirJosh

10% of $SMAT tokens are allocated for the team and advisors. Is there gonna be a lock-up period for the teams token? How many months will it be lock and will it be gradually release.

Anthony Paul: Yes. There will be a linear vesting period over 24 months or 2 years.

Q10. from Telegram user @vedamatrix

I’m interested in network validators programs. Does Smarts include mining, node validator prizes or minting too?

Anthony Paul: This is well done by our upcoming liquidity program.

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: https://t.me/smartsfinance/

We are pleased to announce our next AMA on December 27th 2020 at 03:00 PM UTC Time: Satoshi Club x SmartCredit.io

⚠️Click to see the hour
⚠️Total Reward pool: $3000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join SmartCredit.io Telegram group

We will have the following structure:

Part 1: 500$ /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: 500$/15 users – Open chat for 100 seconds. You can post Max 3 questions. SmartCredit.io Team will select 15 questions and answer them.

Part 3: 2000$ – A quiz about SmartCredit.io

For more details:
SmartCredit.io – @SmartCredit_Community
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish