Recently, Trias has reached a strategic cooperation with NUTS Finance, the acBTC product development team. NUTS Finance will implement a secure and scalable blockchain financial infrastructure project based on Trias TEE. As a strategic partner of NUTS Finance, Trias will provide NUTS Finance with the security of trusted applications and the flexibility of consensus network structure.
In the process of building a blockchain financial project, data privacy is the most concerned issue for enterprises and users. TEE based on Trias trusted technology is an independent execution environment, which can ensure the security and consistency of financial data and programs. Through the establishment of a trusted environment, the security of the data and model of NUTS Finance project in the communication and calculation process is ensured, and the whole process monitoring and control is carried out to prevent the third party from attacking.
Through the privacy computing technology of Trias, it can protect NUTS Finance data from leakage, and solve the problem of mutual distrust among the participants in the network, so as to better protect the financial data security. In the process of financial data encryption, the sensitive data related to identity is removed, and the corresponding relationship between data and source is cut off to achieve better security.
NUTS Finance is a decentralized development organization composed of technology and financial geeks, focusing on the development of infrastructure projects of blockchain finance. Its productacBTC is a set of protocols designed for native BTC and ERC-20 BTC, including swap, lending and interest generation applications, with the design goal of security, high efficiency and ease of use.
acBTC is a group of protocols, not just a protocol. Around the asset of BTC, a set of protocols is used to solve the heterogeneous problem of BTC after cross chain. Specifically, there are swap, interest generation and lending, which are planned to be gradually launched through a period of development and liquidity reserves. In conclusion, acBTC is a single asset multi protocol, and its goal is to solve all problems after BTC cross chain.
acBTC is an asset basket, which can contain BTCs of various formats. This basket supports the exchange of BTCs of different formats. acBTC itself is a stable asset, with a minimum of 1:1 anchoring the native BTC. This makes it easy to enter into the defi agreement, such as lending.
The best scenario of BTC in Ethereum and other chains is as collateral. acBTC is not responsible for mapping, but is responsible for the cost and ease of use after mapping.
acBTC plans to establish multiple DeFi protocols, so that all kinds of ERC-20 BTCs can get rid of the current constraints, freely flow in a variety of DeFi protocols, enhance the liquidity, and play and capture more value in the DeFi.
After the preliminary evaluation of the Hackathon expert group, the first project of Trias 2020 Trusted Computing Hackathon to be shortlisted in the superior team has been produced. It is the trusted storage protocol – Authmen. At the same time, as an award to the superior team, Authmen will receive the investment and incubation opportunities from Trias Foundation and its alliance partners.
About Authmen
Authmen is a trusted blockchain storage protocol which is based on the distributed idea of blockchain. It mainly solves the problems of data storage and data flow. More concretely, it aims to provide distributed trust feature of the underlying blockchain technology, high availability, openness and transparency, tamper proof, security and privacy-preserving kinds of technical characteristics building a tamper-proof and a traceability system.
Because the distributed storage mainly depends on the decentralized node structure, the storage proof consensus algorithm is needed for spatial consensus. If the consensus algorithm is missing, other nodes can not be trusted, and the problems such as whether the space for a node is enough to store data, whether the stored files or copies have been lost, can not be solved.
At present, most of the blockchains with storage characteristics in the market only recognize the storage capacity of blockchain nodes subjectively. They can’t confirm the trusted nodes from mathematics and computer algorithms, and can’t achieve safe and reliable trust for the stored data, which goes against the original intention of building trusted data and nodes of blockchain.
Authmen is a middleware to solve all kinds of confusion and problems of distributed storage protocol.
1. More Efficient And Secure Storage
The design is exquisite and has stronger performance. It can realize the fast blockchain storage and traceability scheme corresponding to the key information system, and carry out the storage and transmission based on the blockchain in the process of data sharing.
2. Real Tamper Proof Technology
In a real sense, it can help users to achieve tamper proof function, instead of storage that users can’t control like arweave. In addition, the key data of malicious tampering can be found in time, and the false data and illegally tampered malicious data can be found in the use process, and can be repaired in time.
3. Wider Application Scenarios
It can provide efficient and convenient blockchain services for enterprises and institutions, and directly manage data through front-end pages. It can provide users with localized deployment of blockchain system, with the help of its own anti tamper, traceability, strong disaster recovery and other features, it can save energy and improve efficiency for enterprise data management.
4. Trusted Storage Node
With the combination of the security technology of Trias trusted basic chain and Byzantine consensus algorithm after blockchain optimization, it innovatively increases the weight consensus proportion factor of reputation system, greatly reduces the consensus computing cost of blockchain node information, and accelerates the transmission speed of data on the blockchain. By introducing the mechanism of trusted computing, the storage nodes are given credit system factors, which greatly reduces the consensus complexity of consensus nodes, and improves the execution time of existing distributed storage blockchain by more than 10 times.
Technology Ecology of Authmen
Authmen adopts the three-layer computing power system based on leviatom in Trias architecture, and the combination of TEE trusted computing and zero knowledge proof technology to complete the right confirmation and security protection of distributed storage data.
The trusted network constructed by levitom layer of Trias maintains a unique white list for each storage node, which can prevent the loading of abnormal programs and effectively block network security attacks. At the same time, HCGgraph is a trusted computing technology based on heterogeneous TEE. With the help of Gossip protocol, a “trusted acquaintance” network is constructed between consensus nodes using different TEE technologies, and a “conspiracy default” model of global nodes is constructed to locate trusted nodes efficiently, which makes consensus more efficient and cost-effective.
At the same time, the TEE technology of Trias does not rely on a single category of hardware, so it has stronger compatibility. The use of TEE technology can verify and protect the whole life cycle of the computer running environment on the basis of the – 1 layer of the hardware root. At the same time, under the TEE security defense model of Trias, it becomes a new incentive oriented security model, which allows the defender to actively contribute the defense nodes and computing power of TEE, and get the corresponding advantage economic stimulation according to the defense contribution provided in the Trias security network. Through the trusted computing of Trias, multi-party, remote and heterogeneous data storage, sharing and computing can be realized under the premise of maintaining data ownership and privacy.
In addition, the data of trusted hardware and program based on Trias can ensure that the information or data will not be disclosed in the trusted program, and ZK snarks are used to ensure the privacy of the data.
Through trusted computing, Authmen enables different tee protocols to collect the latest status of neighboring nodes, check and record historical information, and propagate the results among other nodes through gossip protocol, and form a reputation network. It repeatedly selects “the most difficult point to lie” as its repeated function contract presentation, forming a robust and efficient running environment, and building a trusted computing based environment Based on the blockchain distributed storage security network.
In addition, the time of 2020 Trusted Computing Hackathon has been extended to December 31. The participating teams can submit their entries within this time. According to the rolling basis mechanism, the quota of 10 superior teams will be on a first come, first served basis. Developers who are interested in participating in the competition should not miss it.
November is almost over, but our Amarathon continues. And today we would like to tell you about the AMA session with our friends from HPB Global. The AMA took place on November 25 and our guest was Xiaoming Wang, Founder and CEO of HPB Blockchain.
The total reward pool was $500 $HPB and has been splitted in 2 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 High Performance Blockchain! @lvxing welcome to Satoshi Club
D. | Satoshi Club: hello again Satoshi club! @lvxing hello and welcome! 😊
Xiaoming Wang: Hi everyone, this is Bob (Founder and CEO of HPB Blockchain). Glad to be here and have a fireside chat with the Satoshi Club community. Thanks Satoshi Club for the invitation to have this AMA.
D. | Satoshi Club: good to have you here!
Mary | Satoshi Club: And thank you for coming today 😀
D. | Satoshi Club: Can you tell us more about your role and your vision for HPB?
Xiaoming Wang: I am the HPB Founder and CEO. I myself was a tech geek in the early Ethereum community, so I acted as a technical evangelist at HPB’s early stage, and now my role is shifting to HPB’s strategic plans. Currently, there are some on-going projects on HPB MainNet, although encountering some progress delays, I believe we will see some killer applications built on HPB blockchain. Regarding the vision of HPB, it’s still the same. We are dedicated to building a high performance blockchain accelerated by hardware for ultimate scalability and security. To build a prosperous ecosystem; hardware acceleration is the carrier. Together with confidential computing, it enables privacy sensitivity and computing values for broad commercial uses.
Mary | Satoshi Club: Nice
D. | Satoshi Club: impressive! thank you for intro! Now we will jump straight into the 10 best questions from Satoshi Club members
I saw on the monthly report you work on an anonymous payment module. Is it compatible with China regulations and UnionPay partnership ? Could you tell me more about this feature?
Xiaoming Wang: Anonymous payment is a tentative project initiated by HPB to enable HPB to support private payments. The current account system used by HPB does not have privacy. That is, the payment amount of HPB is transparent and the payment path can be traced.
This new initiative
aims to combine contract status privacy and zero-knowledge proof so
that HPB can be paid privately. The general technical route is as
follows: HPB is first converted to the token Hcash in the
confidential contract, and then Hcash is used as the carrier of
private payment, combined with zero-knowledge and mapping for state
transfer, and then hcash is converted to HPB. At present, the project
has been under development. For more details, we will publish more
documentations on this project, please stay tuned with our official
social media.
Currently, this
project has nothing to do with the UnionPay Smart partnership. But
based on the previous agreement, if this project has mature outcomes
and applications, UnionPay Smart has priority to use it.
Mary | Satoshi Club: Thank you for this complex answer
D. | Satoshi Club: thank you for answer! im a big fan of anonymous coins and tokens
On
your website, you presented scenarios for using your blockchain. But
as I understand it, these are just examples of what could be. Do you
have examples of the implementation of your blockchain already
implemented?
Xiaoming Wang: HPB is a technologically innovative public blockchain, and the blockchain has a strong community with open source geeks. HPB Foundation is dedicated to developing high performance blockchain infrastructure for blockchain innovations, and we are open to innovative blockchain projects deploying on HPB MainNet to build a prosperous HPB ecosystem together. Moreover, we provide bounty rewards for development contributions. Developers can make development proposals or claim development tasks on gotoken.io.
HPB already supports
the following infrastructure and DApps:
1. HPB official：
HPB
Wallets (hot and cold)；HPB
Scan (block explorer)；in-wallet
staking, pledge, voting, and rewards supported by smart contracts,
etc.
2.HPB community initiatives：
Online
interface for use with Ledger/Trezor: https://myhpbwallet.com/
HPB
Raffle Game in Telegram channel @hpbprice
Blockchain explorer & DEX under Alpha testing now
Mary | Satoshi Club: I really like HPB infrastructure, thank you:
In one recent interview, one of your HPB partners (Jason HU) reportedly admitted that one of the main issues that the blockchain world as a whole is facing is related to consensus algorithm issues. Also, many public chains have already experienced security breaches. To address the security issues HPB already responds by adding another layer of security with the BOE hardware, which adds up on top of the “software” ledger component of the blockchain and embeds itself an hardware RNG (random number generator), therefore greatly increasing security. At the same time, we’re also hearing more and more the word “quantum computing” from news and media alike and – while quantum computers don’t exist yet – it’s general consensus that existing cryptography would be potentially vulnerable to it. Is HPB’s software + hardware already designed to face this issue? Or maybe you’re treating this as a concern that can be postponed, given the mainstream technological means currently available?
Xiaoming Wang: Like most blockchain systems, currently HPB Blockchain does not have the ability to fully resist the attacks of quantum computers. Technically, blockchain technology still can’t resist this systematic problem of quantum attacks. Right now, our focus is still on HPB Blockchain and its ecosystem development. We may start some study on quantum computing later and will update the community accordingly.
Mary | Satoshi Club: Sure, great times ahead and with current progress we will see even more innovative things in the future
The
HPB MainNet is running and stable for 2 years now with high security.
The HPB Partner Jason Hu said in one of your AMA;
“HPB’s
MainNet is a parallel world of Ethereum, with the same virtual
machines, smart contracts, and account system; but HPB transactions
are faster and cheaper; and the code has been audited by
KnownSec.”
With this statement, it looks like HPB is ahead of
Ethereum when it comes to efficiency and cost, but why can’t your
platform gather more attention and support from the community? Is
there marketing plans prepared by HPB to address this.
Xiaoming Wang: 1. First of all, HPB and ETH isn’t a competitive relationship, but a cooperative relationship; the two parties have their own technical advantages, and have complementary needs for technology and business.
2. Before the
emergence of DeFi and NFT, there was less demand for low gas fee and
TPS, and these current problems have restricted the ecosystem
development of DeFi and NFT on ETH; and HPB blockchain is
complementary to Ethereum for better scalability, which can lower
blockchain projects’ innovation cost.
3. We always bear in
mind that we are a blockchain technology driven project, and our
marketing plans should always support the R&D. Over-marketing or
over-exaggeration will bring adverse effects to the project, but as a
part of the project operations, we will continue our marketing
campaign to improve the awareness of HPB in the industry and build
HPB’s leadership in hardware acceleration blockchain. So, more and
more developers will come and build on HPB MainNet.
DeFi.Fund, a new
investment initiative, has announced support for the development of
the DeFi ecosystem on HPB. Also, DEX and NFT projects initiated from
the HPB community are also developing to a tight schedule now. We
believe that more and more developers will be attracted to the HPB
MainNet with the growing awareness of HPB blockchain’s strengths.
4. At the same time,
we are upgrading the virtual machine of the HPB mainnet to support
the latest virtual machine of ETH, which is scheduled to be released
on 15 Dec 2020 with our next version of the MainNet. Moreover, we are
also actively moving forward our research work on cross-chain
technology. This will allow projects on Ethereum to migrate to HPB
MainNet smoothly and seamlessly. We believe we will see an unimpeded
exchange of assets, data, and users across chains in the future.
Thanks for the
question, we can move to the next one.
D. | Satoshi Club: thanks a lot for such a detailed answer!
On
twitter one of HPB team members sent this message to Vitalik on
twitter.
Hello, Vitalik. Faced with the rapidly developing DeFi
project on ETH, and the current high gas costs and transaction
congestion problems.
Do you consider cooperating with HPB to
help solve these problems on ETH?
How HPB can help Ethereum to
make gas fees cost lower than now and help in transactions problem
Ethereum blockchain currently has? (Asked by Jake Micheal
Xiaoming Wang: The scalability problem and high gas fee with transaction congestion hinders the development of Ethereum. As for HPB, it is a high-performance blockchain accelerated by hardware. Our BOE (Blockchain Offload Engine) is unique and innovative in the blockchain industry. With a TPS of 5000, the gas fee on HPB MainNet is comparatively low.
Concerning your
question, at the start of our technical design of HPB, we made HPB
support Ethereum’s system for user accounts, virtual machine and
smart contracts, which provides a high performance on-chain
scalability solution (hardware accelerated). Meanwhile, our team is
also exploring secure and stable cross-chain solutions, so HPB and
ETH ERC-20 assets can exchange freely and trustlessly.
By doing this, HPB
can help ETH Devs by giving them access to a parallel public chain
that looks familiar in set up (supports ETH VM, similar smart
contract template to ETH), but can cater for high on-chain
transaction volume services for which Ethereum is not yet ready.
About the gas fee
solution, the overall gas consumption is greatly reduced on HPB
MainNet. You may wonder that by simply reducing the gas fee, could it
make the system vulnerable and bring more attacks. Of course, we have
considered this beforehand and have worked on this to make our system
more robust. For example, by adding the low-gas replacement function
of txpool, HPB MainNet is more secure in resisting DDOS attacks.
Mary | Satoshi Club: Yes, Ethereum gas fee solution is really actual now, it’s very important that you pay attention to this things
D. | Satoshi Club: it would be interesting to see how HPB and ETH can be work together. thank you!
Defi
has continued to dominate the trend while yield farming is pulling a
huge traffic but lack of security and privacy protection may hinder
its development. How does High Performance Blockchain plan to provide
Defi with reliable security and privacy protection, paving the way
for entry of institutional investors?
Xiaoming Wang: The HPB team is putting a lot of efforts in researching confidential smart contracts. Confidential smart contracts can ensure privacy protection when the contract is executed correctly. More specifically, a confidential smart contract guarantees input privacy, execution privacy, and output correctness. Actually, DeFi itself is driven by smart contracts, and we believe that HPB’s confidential smart contract can provide DeFi services with more security and privacy protection.
Mary | Satoshi Club: Crypto definitely needs more security and privacy protection! Thank you
What
is the main goal of creating HPB blockchain? I think the importance
of such development is too overestimated. Creating your own hardware,
creating your own software. All to create a unique random number? Is
it really so important or am I wrong and the HPB blockchain solves
more serious problems?
Xiaoming Wang: The starting point of HPB was to use the advantages of hardware to accelerate the blockchain performance. To date, we have been working on: (1) Using hardware random numbers to make the consensus algorithm of the blockchain more secure; (2) Using hardware to accelerate transaction verification, thereby increasing the TPS of the blockchain; (3) using hardware to accelerate the zero-knowledge verification process (researching and exploring).
D. | Satoshi Club: thank you! HPB can improve lots of things in crypto
I’ve
read from the HPB whitepaper that you have a partnership with
UnionPay, but there is a rumour that HPB partnership with UnionPay is
already over, which one is true? Can you please give an explanation?
Xiaoming Wang: HPB and UnionPay Smart established a formal collaboration very early, and completed the first phase of technical research and development cooperation towards the end of 2019, providing UPS with a user authorization / deposit authorization system. UPS has paid for the work we have done for them. Because of the non-disclosure agreement signed with UnionPay Smart, it is currently impossible to publicly disclose more specific information, but we could show you the Agreement in person if any community member visits our office.
Due to the
regulatory environment changes, launching it on the public blockchain
is not currently feasible for UPS; we are also very disappointed with
this.
Mary | Satoshi Club: Yes, regulations are pure pain! And it’s really great that you don’t stop and moving forward to the new partnerships!
Xiaoming Wang: At the same time, we are still actively working on new commercial applications, such as HPB’s integration with SZ (https://www.sz.cn), a decentralized social e-commerce platform. Right now, SZ has already built a 100,000 person community with over 200 BD Partners involved..
We keep working on
the HPB blockchain innovation and application and have never stopped.
Please stay tuned with us on our latest.
Why
exactly does your team need a sidechain of the HPB MainNet, capable
of acting independently? Since most activities are run on the
mainnet, why do you propose that the sidechain speed ought to be x50
faster than the Mainnet? Isn’t the faster speed supposed to be on
the mainnet? Please explain.
Xiaoming Wang: The sidechain independent of HPB MainNet is an exploratory project based on HPB’s consensus algorithm, which can transfer the storage pressure caused by high volume of transactions. This project is still in the laboratory phase, and the team will disclose more information on concrete outcomes later.
Mary | Satoshi Club: Nice, more announcements are on the line
D. | Satoshi Club: very nice! interesting things ahead of us
What
is the BOE Hardware Accelerator, what is its use? What are the
advantages and benefits it provides in HPB’s ecosystem as well with
the users?
Xiaoming Wang: HPB’s hardware accelerator, called the Blockchain Offload Engine or BOE, is installed inside each of the high-spec servers running an HPB node across the globe. These BOEs take pressure off server CPUs and drive some of the fastest transactions in blockchain (5000 TPS average). You can read more about our BOE blockchain accelerator here: https://www.hpb.io/boe
Mary | Satoshi Club: Unbelievable speed. Thank you for your answers
D. | Satoshi Club: OK – we have some time for a few more topics that were raised from the advance questions from the community…
Q11
The recent decision to suspend staking caused a strong reaction in the HPB community? What happened and what are your new plans?
Compared with the current mainstream public chains, the HPB team found that staking alone for a 5% annualised return is unsustainable; therefore, we initiated a community vote, which has not passed at present, so staking is suspended. A survey has been set up to get community input on 10 additional options here: https://forms.gle/yg89T9DfEJfYY49Z6 and the discussion can be restarted on the topic, once the community have responded to the survey in higher numbers.
In addition, the DEX built on the HPB main network is undergoing testing. It has a liquidity pool and order book function. After it goes online in the future, it will provide the HPB community with the opportunity to trade assets.
Q12
How many node operators do you have and how can I apply to become a node?
Xiaoming Wang: At present, HPB has more than 100 hardware acceleration nodes on the entire network. The new node election has not yet started. You can send an application email to node@hpb.io for communication.
We
notice that some of our members are sceptical about the 5000 TPS
claim. How do you respond?
Xiaoming Wang: It is planned that after the latest HPB virtual machine goes online in December, further online blockchain pressure test results will be given. We provided a report already in 2019 here: https://www.hpb.io/post-362. Without sitting at the same test bench, it will be hard to convince a sceptic. But, the relative speed of transactions on HPB should be clear when you transact with our wallet, or play the raffle @hpbprice as this records all transactions on-chain.
Q14
We hear that you have some wallet options? Can you tell us more?
Xiaoming Wang: The wallets currently supporting the HPB MainNet are:
$250/100s users were tipped $HPB to try HPB’s rapid fire rolling raffle, with a 1 in 5 chance of winning 8 HPB in each round! Raffle was hosted by HPB Price
Part 1: 100$ /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.
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Part 3: 300$ – A quiz about Morpheus Game
For more details:
Morpheus Game – @morpheusgamechat
Satoshi Club – @satoshi_club
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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.
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Hello,
Satoshi clubbers Another AMA took place at Satoshi Club and we would
like to introduce to you the AMA session with our friends from
Ethereum Yield. The AMA took place on 19 November at 2 PM UTC.
The
AMA session was divided into 3 parts with a total crypto reward pool
of 1000$
In
this AMA Recap we will try to summarise the most interesting points
for you.
Mary
| Satoshi Club
Hello,
Satoshi Club! We are happy to announce our AMA session with Ethereum
Yield! @liaofu welcome to Satoshi Club :grinning:
Liao
Fu
:hand:🏻
Gold
Rocket | Satoshi Club
Hello,
friends! Today we are pleased to introduce you a project Ethereum
Yield!
Gold
Rocket | Satoshi Club
Today
is our guest @liaofu. Welcome to Satoshi Club!
Mary
| Satoshi Club
Hi,
how are you, @liaofu ?)
Liao
Fu
I
am well. Thank you for the invitation. How are you ? :blush:
Mary
| Satoshi Club
We
are great, looking forward our informative AMA :+1:
Liao
Fu
:rocket:
Mary
| Satoshi Club
Could
you please introduce yourself and Ethereum Yield?)
Liao
Fu
I
am Liao and one of the developers in the Ethereum Yield (ETHY)
project.
ETHY
is Ethereum’s most powerful yield farming coin. ETHY’s vault
smart-contract executes strategies to maximize APY, reward holders,
and punish weak-hands.
Super
Liquid
Users
are incentivised to stake Uniswap liquidity provider tokens. Fees
from these tokens are farmed. A percentage of these fees goes toward
the autonomous strategies like liquidating LP tokens, and performing
an (ETH-ETHY) buy back (increasing the price). Any purchased ETHY
tokens will be distributed to stakers/farmers.
Non-Inflationary
ETHY
implements a strong force on each token. Every time an ETHY token is
transferred, a small fee is taken, which is returned to the farmers.
This mechanism incentivises holding and farming. There will never be
more than 500k ETHY.
Community
controlled
ETHY
holders will be able to vote on proposals– so long as they have
staked liquidity in the pools. The community will decide everything
from developer fees and site design to the exact farming options
available.
Gold
Rocket | Satoshi Club
Very
informative intro!:+1:
Liao
Fu
Thank
you :heart:
Mary
| Satoshi Club
Great
:+1: Thank you for your intro, as a developer, i think you will be
happy to answer our community questions 😉
Ready
to go?
Liao
Fu
yes
:blush:
Q1 from Telegram user @bitcoinistic
When
pre-sale end and when people provide LP they will use ETH from
PRE-SALE. So, basically in the pre-sale I buy the tokens and give
myeth for the LP at the same time?
Liao
Fu
That’s
right.
In
translation it comes as FREE-PRE-SALE which honestly we are one of
the few projects that have done that.
Mary
| Satoshi Club
Nice
idea:grinning:
Gold
Rocket | Satoshi Club
Sounds
good
Liao
Fu
:rocket:
Gold
Rocket | Satoshi Club
Can
we proceed to the next question?Or you want to add something?
Liao
Fu
Yes!
Next question :blush:
Q2 from Telegram user @cryptomonkss
CertiK
mentions that their reports are not, nor should be considered, an
“endorsement” or “disapproval” of any particular project or
team. Any project can request an audit from them. So, the most
important thing is not that you are audited by them, but what is the
conclusion of their report?
Liao
Fu
We
can proudly say that no errors were found on our smart contract.
Certik is one of the largest cyber security companies and we are very
happy to work with them. Users can see the full report on their
official website:
One
of the latest hacks was Akropolis and it was also audited by Certik,
didn’t you think about additional audit to secure everthing
maximally?
Gold
Rocket | Satoshi Club
Thanks
for your answer!
Liao
Fu
It
was not a hack but the Akropolis team made a backdoor and withdrew
their tokens. We can call this as RUG
Benefits
and trust with Ethereum Yield is that we have DISABLE FOREVER MINTING
OPTION
Mary
| Satoshi Club
Got
it, thank you :+1:
Next
question?)
Gold
Rocket | Satoshi Club
Thanks
for the clarification
Liao
Fu
Yeah
next 🙂
Q3 from Telegram user @parisienne_a
You
state on your website that:
“ETHY
holders will be able to vote on proposals– so long as they have
staked liquidity in the pools. The community will decide everything
from developer fees and site design to the exact farming options
available.”
It’s
very good that the community will be involved in the governance of
the project. The fact that is a red flag though is that nowhere could
I find the exact methods and rules by which this will work. Can you
tell us how will be people able to make decisions?
Liao
Fu
That’s
right ! We listen very well to our community and accept almost 99% of
their suggestions. So today we agreed to do an update to the website
and we changed the design.
We
will have a special group with the majority owners of ETHY, and they
will be able to make decisions with the team, and the team will be
very happy to listen to them.
The
most important success is listening to the community.
(next)
Q4 from Telegram user @dani_minkovicz
You
are non-inflationary token and the maximum supply is 500k ETHY. Only
the farmers will be able to gather tokens. That is good, it
incentivize holding. However, will you have a deflationary policy as
well?
Liao
Fu
Our
MAX supply is 500k.
100k
PRE SALE
375
FARMING REWARDS
25k
TEAM LOCK
(please
note that tokens which they are not sold at pre-sale phase gonna be
used for farming rewards).
next
Gold
Rocket | Satoshi Club
Q5 from Telegram user @kafeinen
Discouraging
bots and weak sellers from dumping the token is cool, but don’t you
think that this method you’ve decided to use will discourage a lot of
good market players form buying from you? Also, please tell us what
is this fee that you intend to use and if it will be fixed, or will
change in time?
Liao
Fu
We
came up with the idea to make the system so that anyone selling on
UnisWAP – 5% FEE of the token will go to the farmings rewards pool
and reward users, and then the bot is unable to do a trade and dump
price because it will not be profitable .
This
is something like an ANTI BOT system.
next
Q6 from Telegram user @edibrown
How
much surplus ETH and ETHY may be lent out, is the % flexible or will
it stay the same?
Liao
Fu
We
will publish this information with the exact figures in 2-3 days
soon.
next
Mary
| Satoshi Club
But
if you ecsidentally will still see the dump?) Btw, can you tell us
the price for Sale and Uniswap listing price?
Gold
Rocket | Satoshi Club
We
hope you come to Satoshi Club to share this.
Liao
Fu
Our
price on UniSwap will be 10-20% higher than in pre-sale phases.
I
really heard this million times, but the reality often differs. And
do you have bonuses for Pre-Sale?
Liao
Fu
What
we promise we deliver for our community.
There
is no bonus for pre-sale because main benefits on pre-sale is that
people can do LP with ETH raised from pre-sale which means they got
something like FREE ETHY
Mary
| Satoshi Club
Ok
thank you :smiley: Ready for live questions part?
Q1 from Telegram user @konditer_rolex
Audited
by CERTIK, PR published by Cointelegraph, partnership with
DEXToolsApp – that’s what I understand you decided to hyip. We say “a
good show is more expensive than money”. But you started it for
the sake of the presale. Tell me how much you expect to raise? Will
there be more presale rounds if there is not enough money? What will
happen to the tokens that will not be sold?
Liao
Fu
We
always want to work with the best and give customers great legitimacy
and protection when they want to invest.
So
we just decided to work with Certik, Dextools, Cointelegraph and
others.
We
expect to raise more than 1000 Ethereum and there is no pre-sale
round.
Unsold
tokens will be transferred to the farmings rewards pool and will be
assigned to users.
Q2 from Telegram user @brodzon1
Why
is hardcap so high 2000 eth and for what will be used all these Eth
Liao
Fu
Do
you like to see a project on UniSwap with 100 ETH pooled or with
2000?
The
larger the community we have and the investors – our project is
stronger and bigger.
Q3 from Telegram user @huydo
You
plan to list on UniSwap on 23Nov, so how about planning for listing
on CEX such as Binance, Huobi…?
Liao
Fu
We
will be on UniSwap on November 23, and as far as CEX is concerned, we
do not plan to make an effort and push towards that, because mostly
CEX dumps price with their arbitage bots. a lot.
Q4 from Telegram user @warny
I
don’t like the site design, how much ETHY do I need to hold to be
able to change that design?
I
want to join Pre-sale, but I don’t have much ETH, so are there any
requirements for min or max ETH for pre-sale? @liaofu
Liao
Fu
Users
can enter at pre-sale with minimum purchase of 1 ETHY = 0.02 ETH.
Maximum
purchase per address is 40 ETH but please note that people always can
make multiple address and purchase more so there is no way to stop
whales. :eyes::blush:
Q6 from Telegram user IVY Park
Was
any major issues or vulnerabilities reported after the audit by
Certik?
Liao
Fu
We
are very proud and happy to say that they were not found major issues
or vulnerabilities :heart:
Q7 from Telegram user @KhaleesiTheCryptoLady
How
much approximate APY could farmers can earn if they provide liquidity
in Uniswap? Can you share to us guaranteed reward ratio?
Liao
Fu
Users
will have an APY earnings of 200%.
Their
funds will be locked for 8 months, but they can always withdraw their
funds with a 25% penalty.
We
want to give users the opportunity to withdraw their funds without
locking them up forever.
Q8 from Telegram user @toanphamhd
Do
you have plan to Burn/Buyback Token to increase its value? and What
is the your Token Utility in the ecosystem?
Liao
Fu
Fees
generated by the deposited LP tokens on uniswap will periodically be
withdrawn by the contract; ETH and ETHY will be returned; The ETH
will be used to buy ETHY from uniswap, increasing the price, which is
great for all holders. All surplus ETHY will be redistributed to the
farmers and small admin fee will be taken. This pumping strategy may
be updated over time to an even more aggressive protocol.
Q9 from Telegram user @KeymerS
Among
so many different platforms in the ETH chain that have yield farming,
why choose this one? What advantages does it have over the rest and
what future plans will they have?
Liao
Fu
I
would like to give you full answer on targeted page:
Is
there a way to reduce transaction fees on transactions provided for
farming? What is the advantage of using EVault so that our profit is
minimally affected?
Liao
Fu
There
is way but we want to keep 5% fee to prevent BOT manipulation on
UniSwap and that our users feel more safe.
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:
Hello,
Satoshi clubbers another
AMA took place at Satoshi Club and we would like to introduce to you
the AMA session with our friends from DeFiance. The AMA took place on
21 November 4 PM UTC.
The
AMA session was divided into 3 parts with a total crypto reward pool
of 600$ .
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
Luis Merino :es: | Satoshi Club
Hello
SatoshiClubbers! Welcome to another AMA session with Satoshi Club.
Hello
to everyone! How are you, how is your day going?
I
am Charlie from Defiance!
Gold Rocket | Satoshi Club
Good evening Satoshi clubbers! We are starting our today’s AMA with Defiance. Our guests today are @defiqueen, @def_erik, @wearedefiance, @Def_Giorgio.
Giorgio
Hi
everyone
Luis Merino :es: | Satoshi Club
Yes
dear community, I’m back moderating. Don’t worry :wink:🥰
Erik (Defiance Developer)
Hello!
I am Erik from Defiance, nice to be here. :blush:
Gold Rocket | Satoshi Club
Welcome to Satoshi Club,@defiqueen, @def_erik, @wearedefiance, @Def_Giorgio!
Charlie
Thank
you!
Luis Merino :es: | Satoshi Club
Welcome
guys! How are you all today?
Charlie
We
are pretty good, thank you very much. On the other hand, we are of
course quite tired. 🙂
Gold Rocket | Satoshi Club
Thanks
for joining us.
Charlie
Thank
you all for setting this AMA session.
Luis Merino :es: | Satoshi Club
It
is a real pleasure!!
Gold Rocket | Satoshi Club
Tell
us more about yourself and Defiance project
Charlie
It
certainly a real pleasure for us too.
Defiance
(DEF) is a deflationary ERC20 token for now with a reward system for
holders.
Soon
it will be implemented on Polkadot network, too.
Luis Merino :es: | Satoshi Club
Sounds
great!!
Charlie
Thanks
:blush:
Gold Rocket | Satoshi Club
it’s
really very interesting!
please
tell us a few words about yourselves and how did you get to be
involved in Defiance.
This
is a very young project
Charlie
I
have invested/participated in various projects for many years. I know
the entire Defiance team for many years.
Gold Rocket | Satoshi Club
Do
you have a big team?
Charlie
Personally,
my profession is directly related to technology. I can say the same
for the whole team.
Luis Merino :es: | Satoshi Club
And
what’s your role now in Defiance?
Charlie
I.E.
Eric is an engineer, Chloe is a computer scientist, Giorgio is a
marketeer.
Luis Merino :es: | Satoshi Club
:clap:
Charlie
I
am responsible for service design. I also have research and
development responsibilities for the future of Defiance, too.
Gold Rocket | Satoshi Club
This
is impressive. Real professionals.
Luis Merino :es: | Satoshi Club
Got
it. Thank you
Gold Rocket | Satoshi Club
Do
you wish to remain anonymous?
Charlie
Thanks.
:blush:
We
prefer to stay that way right now. For Defiance.
Gold Rocket | Satoshi Club
:+1:
Thanks
for the introduction, we will have a question selected for the Part
1. ready to start?
Or
you want to add something?
Charlie
Yes,
typing write now. 🙂
Being
anonymous is critical for us. Here is why.
We
are aware of the difficulties of giving a new impulse to the
blockchain world. If we publicly publish our credentials, we think it
will prevent us at some point from doing what we want to do.
Gold Rocket | Satoshi Club
I
understand you. it’s your right.
Charlie
When
we say what we want to do, it is not grabbing the cash and running
away of course. We are trying to build a decentralized project that
has a governance model and that will function as a successful DAO. In
the long run, it won’t matter who the team members are but the
project will be run by the DAO that will be built as a part of this
project. Our identities do not matter in this context. We are a
leaderless structure, consisting of people who are fed up with the
infinite number of scams, rugs, incompetent projects that raise
millions of dollars and do nothing. Hence, our name: “Defiance”.
Luis Merino :es: | Satoshi Club
:clap::clap::clap:
Charlie
You
must have been following the latest events in the crypto world for
the past 10 days. What happened to the public team projects? It
didn’t prevent them from scamming thousands of people and running
away with their funds. There are also so-called public teams with
fake Linked-In profiles. PAMP, BLV, WALT to name a few.
Gold Rocket | Satoshi Club
Thank
you for such an emotional speech!:blush:
Charlie
I
am not saying that being public is not a good thing, but it is
something one shouldn’t only focus on so blindly to evaluate the
legitimacy of a project.
You
know better than us that this year there has been a paradigm shift in
doing due diligence for choosing the projects to invest in. In 2017,
the first things one would look at were the whitepaper, then the team
members and their LinkedIn profiles, and so on.
Luis Merino :es: | Satoshi Club
You
are right
Gold Rocket | Satoshi Club
It’s
ok!:+1:
Everything
is clear to me. Can we proceed?
Charlie
We
are not a quick cash grab project. If we were, we wouldn’t have a
private sale that lasted for a little more than 1 month, we wouldn’t
have a Github for our own code, but rather an automatically generated
ERC20 token. We wouldn’t have bothered to design a beautiful
website, which also has a dedicated sales platform working with
Metamask. We wouldn’t have developed a staking platform for it. We
would have gone with a less ambitious ETH raise, we wouldn’t have
bothered to do a private sale. But we are here for the long run. We
are here to stay. We wanted to make this raise in order to pass this
phase and get it over with so that we can focus on our long-term
plans and focus on developing and delivering our vision. We don’t
want our project to be a still-born that loses its hype on Day #1.
I
understand that you also wouldn’t want to jeopardize your reputation
for endorsing an anon team’s project. But we are not 100% anon. We
have just recently sealed a deal with a reputable blockchain
institution. You can check them out here: https://www.bitbrain.ch
and https://www.bitbrainacademy.com/en/about-us/
Erik (Defiance Developer)
@wearedefiance
Allways speaks a lot and writing long sentences… :joy:
Charlie
🙂
Gold Rocket | Satoshi Club
:sweat_smile:
Charlie
They
are going to be advising the project for the long term objectives
ahead in terms of network, marketing, and auditing needs as well as
the recruitment processes of developers for the future integration
needs. They also run an education institute and our team members are
getting trained and they will get certified by this institute as
well.
Chloe @ Defiance
Charlie
likes to talk about this issue, he is very passionate about it 😀 he
can go on and on about this
Charlie
The
end. 🙂
Luis Merino :es: | Satoshi Club
Part
1 now? 🙂
Charlie
Yes,
please. 🙂
Gold Rocket | Satoshi Club
Q1 from Telegram Username @brodzonl
In
case the hard cap is not reached, ~48% of the ETH collected from the
sale will be added as liquidity to the Uniswap Pool. In any case, the
funds in the pool will be locked.
What
happens if Hard cap is reached, how much precents is going to be
added as liquidity on Uniswap? In case of not reaching Hard cap what
will happen to unsold tokens? What is your progress with presale for
now?
Charlie
@defiqueen
your turn. 🙂
Chloe @ Defiance
Charlie,
I would like to answer this one so that your fingers can get a little
rest
Right!
Charlie
Haha,
you know me well. 🙂
Chloe @ Defiance
Thank
you @brodzonl for this question :relaxed:
The
percent of liquidity to be added will remain the same. In case the
hard cap is reached, we will be ready to provide a fat Uniswap
liquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity. In case
the hard cap is not reached, we are going to provide the 48% of
raised ETH during our Private Sale + Public Sale round(s). This
liquidity will be immediately locked upon listing and liquidity lock
proof will be shared with our community.
If
the hard cap is not reached until the 24th of November, then we are
going to burn all the unsold tokens before listing. The presale is
going well at the moment. Crypto Twitter has started to talk about us
and we are welcoming more and more people in our Telegram community.
Until now, more than 300 ETH have been raised during the public sale,
along with the private sale round, we are close to more than 750 ETH
raised as of now. We are anticipating people to contribute as the end
period of the sale approaches.
You
can actually observe the transaction yourself by looking at the
Etherscan of our token tracker.
This
is the beauty of blockchain. Even though we explain things and
convince you about your potential concerns about the project, it is
the best practice which I am applying in my personal life: “Don’t
trust, verify!”
Can
you guys pass the Etherscan link for the community to track it
themselves?
You
are very welcome! Thank you for the opportunity to address this
Luis Merino :es: | Satoshi Club
Ready
for Q2? Or do you want to add something?
Charlie
Yes,
please.
Gold Rocket | Satoshi Club
Q2 from Telegram user @b_dima
Every
transaction will burn 5% of tokens. It is quite high, don’t you
think? You incetivize people holding the token in one wallet instead
of sending it because the transaction fee is too high
Luis Merino :es: | Satoshi Club
I
love this question
Charlie
As
we have answered in the first question, the token is designed to burn
2.5% of each tx for good. And the remaining tokens are going to be
rewarded to the participants of the staking pool.
Erik (Defiance Developer)
Let
me give you some details about the staking portal. You need to stake
at least 1,000 DEF in order to participate in the staking program.
You will be able to see your staked amount and accrued rewards on the
staking interface once it goes live with the Uniswap listing. There
is no penalty for withdrawing the reward DEF that you have earned but
there is a penalty of 5% if you would like to withdraw your staked
amount of DEF tokens if you decide to leave the pool.
Luis Merino :es: | Satoshi Club
Any
reasons of this token burn? Is it to make the token more exclusive?
Charlie
Since
we are planning to have a governance feature in the next quarters,
which can also be seen on our roadmap, the question of this
deflationary feature, the burned amount, is it going to be like this
forever or will it stop being deflationary when a certain block is
reached can be decided by the stakeholders and the proposals they are
going to give in the governance platform. A more detailed staking
guide will be published on our website and social media channels once
our staking program is live.
Luis Merino :es: | Satoshi Club
Thank
you. Everything clear
Charlie
Definitely!
Luis Merino :es: | Satoshi Club
Great
idea then :))
Gold Rocket | Satoshi Club
Q3 from Telegram Username @yzmoney
Defiance
wants to archive a deflationary token by having a 5% burning
mechanism with address-to-address transaction. Will this burn rate
stops when it drops to a certain amount of token ? can you describe
about your staking program as this is not explained in the website.
Charlie
And
@LuisMe7 this is a first for the Polkadot Network. This is also very
important.
Luis Merino :es: | Satoshi Club
Love
it
Chloe @ Defiance
actually
this question is somewhat similar that has been addressed here.
as
far as the last part of this question is concerned since we are
planning to have a governance feature in the next quarters, which can
also be seen on our roadmap, the question of this deflationary
feature, the burned amount, is it going to be like this forever or
will it stop being deflationary when a certain block is reached can
be decided by the stakeholders and the proposals they are going to
give in the governance platform. A more detailed staking guide will
be published on our website and social media channels once our
staking program is live.
Luis Merino :es: | Satoshi Club
Yep,
anything else to clarify It?
Chloe @ Defiance
Sorry,
I am not typing as fast as Charlie :see_no_evil:
Luis Merino :es: | Satoshi Club
When
will your staking program be launched?
Giorgio
Luis Merino :es: | Satoshi Club
Thank
you Giorgio!!! :relaxed:
Gold Rocket | Satoshi Club
don’t
worry Chloe! :blush:
Thanks!
Luis Merino :es: | Satoshi Club
Q4?
😉
Erik (Defiance Developer)
the
staking program will start within a few days, we are aiming for it go
live before the uniswap listing so that the stakers will benefit from
the initial tx.s during the first listing period.
Luis Merino :es: | Satoshi Club
Looking
forward to it
Gold Rocket | Satoshi Club
Yes!
tell Satoshi Clubbers about it!
Chloe @ Defiance
Very
exciting times ahead indeed!
Charlieadmin
Shoot
🙂
Gold Rocket | Satoshi Club
No
doubt!:rocket:
Q4 from Telegram Username @cengizhantekin
During
or after the private sale, you have reserved about 118.000 DEF tokens
for a special reason, why? Which part of the token allocation is it
taken from? When will you release them? Who will be able to purchase
them in what ways?
Chloe @ Defiance
Charlie
can you get this one please?
Charlie
Okay
🙂
Thank
you @cengizhantekin for this question. 🙂
Nowadays,
coming up with a new project is a tough challenge for both the
project team and the potential investors of the project. This
challenge intensifies enormously especially when the team is
anonymous. We have some solutions to overcome this trust issue,
step-by-step.
As
a result of numerous rug pulls and soft exit scams of many other
projects, potential participants are hesitant to attend a presale as
one might expect. Questions such as “Are they ever going to get
listed?”, “Are they going to pull the rug even if they get
listed?”, “When are they going to lock the liquidity?”, “What
if some whale has purchased the majority of the tokens at the private
sale price and he/she dumps on us?”…These are all legit and
appropriate questions and concerns.
During
our private sale process, we tried our best to mitigate these
potential threats that would damage the project and harm our early
believers. The participants of the private sale have been
cherry-picked and a personal cap of sold tokens to each individual
has been applied. Apart from a very few exceptions, private sale
participation was capped at 10 ETH per person.
Chloe @ Defiance
Let
me also contribute to this question with some more context:
During
our private sale process, we tried our best to mitigate these
potential threats that would damage the project and harm our early
believers. The participants of the private sale have been
cherry-picked and a personal cap of sold tokens to each individual
has been applied. Apart from a very few exceptions, private sale
participation was capped at 10 ETH per person.
Gold Rocket | Satoshi Club
@wearedefiance
Btw what is the min/max to buy on Sale?
Chloe @ Defiance
As
for clarifying the second part of the question: some parties wanted
to participate in the private sale but had the above-mentioned
concerns in their minds. We have offered them an allocation
reservation and an option to buy after they are 100% sure that DEF
gets listed. For this purpose, an allocation of ~118,000 DEF is being
kept as reserved tokens and if the potential participants decide to
buy them upon our partnership and listing announcements, they have
the right to do so. But in order to protect the early believers of
the project and the public sale and Uniswap participants, their
tokens won’t be directly available to trade on the first day of
listing.
Erik (Defiance Developer)
Charlie
is writing and writing again… Let me answer this 🙂
There
isn’t any min or max limit for public sale.
Charlie
Some
parties wanted to participate in the private sale but had the
above-mentioned concerns in their minds. We have offered them an
allocation reservation and an option to buy after they are 100% sure
that DEF gets listed. For this purpose, an allocation of ~118,000 DEF
is being kept as reserved tokens and if the potential participants
decide to buy them upon our partnership and listing announcements,
they have the right to do so. But in order to protect the early
believers of the project and the public sale and Uniswap
participants, their tokens won’t be directly available to trade on
the first day of listing. These tokens will be released once the
token reaches its just price appreciation and they will not be moved
for at least 1 month. If they decide to buy those tokens after DEF is
listed on Uniswap, they need to send the corresponding ETH to our
private sale address. But as a penalty for being a little skeptical
about participating in the private sale round before it gets listed
on Uniswap, they won’t be able to have control over their tokens for
at least 1 month and they won’t be able to utilize their tokens for
the staking program to receive staking rewards. This is only fair and
it protects our early investors and public sale buyers. A
transparency report, containing all the wallets will be provided on
our website and medium, you will be able to observe and track the
movements of those wallets yourself.
Luis Merino :es: | Satoshi Club
I
love AMAs that have many guests, info is raining every sec :))
Charlie
Haha,
thanks Erik!
Gold Rocket | Satoshi Club
Thanks:+1:
Luis Merino :es: | Satoshi Club
:clap:
Gold Rocket | Satoshi Club
Team
spirit:grin::+1:
Luis Merino :es: | Satoshi Club
No
questions at all for this one. Very complete answer. Thank you guys!!
Gold Rocket | Satoshi Club
Can
we proceed?
To
the next question?
Erik (Defiance Developer)
Yes
please!
Gold Rocket | Satoshi Clubn
Q5 from Telegram Username @magic2crypto
Your
PolkaBridge GitHub is empty so far and i don’t see erc20 tokens
allocated to support work of ERC20 Polkadot Bridge, to provide it’s
liquidity, etc. Could you disclosure this step of your roadmap more
detailed? Will you migrate completely to Polkadot with 1:1 swap? Or,
will you create additional assets in Polkadot ecosystem to provide
the liquidity for the bridge? Or, will you reallocate some qty of
erc20, by reducing Uniswap pool for instance? Or,which other way?
Erik (Defiance Developer)
Thank
you for your question @magic2crypto
Yes
our repo about the Polkadot side of the project is not open to public
right now. We are not talking about fully swapping into another
network completely and leaving Ethereum behind. What we’re are
interested about is the interoperability between the Polkadot and
Ethereum Networks. We are planning to have a bridge on Ethereum <>
Polkadot Networks in order to reduce costs of each transaction and
balance the load on the Ethereum side of things while doing so.
Charlie
Quoting
from the previous question that have been asked here recently, our
plan about adding liquidity is as follows:
In
case the hard cap is reached, we will be ready to provide a fat
Uniswap liquidity of 1,500,000 DEF tokens + ~2,205 ETH for liquidity.
In case the hard cap is not reached, we are going to provide the 48% of raised ETH during our Private Sale + Public Sale round(s). This liquidity will be immediately locked upon listing and liquidity lock proof will be shared with our community.
Giorgio
This
information about how the remaining raised ETH will be utilized
according to the following parts. I’m pasting this bullet points from
our telegram group pinned message for your convenience:
Luis Merino :es: | Satoshi Club
Liquidity
will be on fire :fire:
Giorgio
The
remaining ETH raised will be used for the following purposes:
:sun_with_face:
To provide liquidity for the other DEXes apart from Uniswap,
:sun_with_face:
To be used for the integrations with the Polkadot and other possible
chains,
:sun_with_face:
For the collaborations and partnerships to be established in the
crypto ecosystem for providing an added value to the project,
:sun_with_face:
For the advantages and perks that will be provided to DEF holders
throughout this long journey,
:sun_with_face:
To reward community efforts and compensate the hard work given behind
the scenes by the people with different roles.
Luis Merino :es: | Satoshi Club
I
love that you have clear ideas on where to invest the money! :))
Ready
for the last question for part 1?
Gold Rocket | Satoshi Club
thanks
for the extensive answer
Charlieadmin
Thank
you. 🙂
Our
investors have believed in this project and trusted us with their
hard earned ETH.
It
is only fair that we don’t spend these funds relentlessly.
Chloe @ Defiance
Bring
it oooon :+1:🏻:+1:🏻:+1:🏻
Gold
Rocket | Satoshi Clubadmin
Q6 from Telegram Username @JimJammers
According
to the literature, Defiance rewards holders for holding. Is there a
penalty (expressed or not) if one decides to liquidate besides the
tax described in the same literature?
Chloe @ Defiance
let
me get this one
Thank
you @JimJammers for this question. As we previously answered the
question about the staking program, the rewards the stakers will
receive will not be penalized if they decide to withdraw the
collected rewards.
Gold Rocket | Satoshi Club
Feel
free
Chloe @ Defiance
This
is done automatically in the code with the whitelisting feature. The
only penalty you have here is for withdrawing the staked DEF and it
is the same tax as if making a tx of buying/selling/transferring your
DEF tokens.
Again,
the 2.5% of these unstaked tokens will be burned for good and the
remaining 2.5% of these tokens will be redistributed to the reward
pool for the stake program participants. So you are being rewarded by
staking your tokens and keeping them out of circulation. If you
decide to become a whale, this penalty is needed in order for it to
be fair for the other stakers with any amount of tokens >= 1,000
DEF.
Charlie
Thanks,
Chloe. 🙂
Luis Merino :es: | Satoshi Club
Anything
to add? :))
Chloe
@ Defianceadmin
I
think we are ready for the part 2, looking forward to a flood of
questions :blush:
Part
2 — live questions from the Telegram community
Q1 from Telegram Username @KeymerS
Currently
they only maintain a partnership with BitBrain, that would be the
only company in which they could trust that if the project is real,
but why not put more personal information about the team or more
details of the company? or where can i get it?
When
I send the desired amount of ETH to buy from your DEF tokens, would
it be immediate that we would receive our corresponding tokens or do
we have to wait for a period of time?
Giorgio
This
is all tied to our smart contract. You will be immediately and
automatically receiving your tokens in your wallet once the ETH tx
clears. So you don’t have to wait for your beloved DEF tokens. You
need to add them to your wallet as custom token using this address:
0x90e6E082B0aa4bf6AFBA0d11163d920A534EBae4.
Q3 from Telegram Username @BERTA2020
The
percentage of your staking system varies depending on the amount
entered in it or is it fixed for any amount?
Erik
As
we have addressed this question about the staking mechanism, the
percentage remains the same. 2.5% of every tx goes to the reward pool
and it will be sent to the stakers proportional to their stake
amount. As an example scenario: Let’s say there is a TX involving the
transfer of 10,000 DEF. 2.5% of this amount which is 250 DEF tokens
will be burned for good. The other 2.5% will be rewarded to stakers,
which is also 250 DEF.
Let
say what Alice has staked makes the 10% of the total staking pool.
Alice will receive 10% of this 250 DEF which is 25 DEF. I hope this
makes it clear.
Q4 from Telegram Username @Thiexzoro
Can
you give me the current price of $DEF and the pre-sale price? So I
can compare and compare and decide to buy more or less? Can $DEF be
used to hold or burn
Giorgio
Private
Sale Price: 1.350 DEF/1 ETH (Closed)
Public
Sale (Round1) Price: 1.150 DEF/1 ETH (Live)
Public
Sale (Round2) Price: 1.000 DEF/1 ETH (Not started)
Uniswap
Listing Price: 680 DEF/1 ETH
Q5 from Telegram Username @JuanSB07
Lately,
many projects and (most of all) DeFi protocols start under ETH’s
ERC20 network, but they always clarify that in a later time they will
change to another chain, in Defiance it will be polkadot for the
interconnection of chains, but why start with ETH? why not start
direct with the desired chain?
Erik
Polkadot
will not be the only chain that this project will be on. It will
co-exist between different chains actually. That’s why we would like
to utilize the nice interoperability features of the Polkadot
Network. We are also not blockchain biased at any point and we are
also considering other blockchains that might be beneficial to
Defiance, we are taking a closer look at the Avalanche protocol
(AVAX) for example. We have started developing this platform on the
EThereum Network to utilize the popularity and volume that the DEXes
have at the moment. Hopefully, in the near future, other blockchains
will also have nice and high volume DEXes.
Q6 from Telegram Username @BJosefina61
In
addition to the Uniswap listing, is there a clear path to the
Defiance listing on CEX?
Giorgio
Our
initial plan and focus is getting listed on Uniswap. Then we are
going to use the raised amount of ETH, apart from the Uniswap to
provide liquidity for the other DEXes apart from Uniswap. When it
comes to listing on CEXes, it needs to benefit both the vision of the
project and its investors. So it needs to be integrated with the
deflationary feature. However, this is just the beginning plan for
Q4, 2020. As you might have already checked, the project aims to
become a DAO in the next quarters, which will be led by the token
holders. Then they will have a say on the future plans of the
project.
———————-
To
summarize it, we do not close the doors tightly shut for CEX listing
opportunities, but we are not going to do it until it really has a
meaning and benefit for our community.
Q7 from Telegram Username @Ayh406
How will Polkadot contribute to your project in the future? Which features of Polkadot do you like?
Chloe @ Defiance
Polkadot
Network is one of the most robust platforms in the cryptosphere due
to its security, speed, flexibility, and working capacity between
different networks. In this context, Polkadot Network will provide
great potential for the project.
We
are not talking about fully swapping into another network completely
and leaving Ethereum behind. What we’re are interested about is the
interoperability between the Polkadot and Ethereum Networks. Polkadot
provides transactional scalability by spreading transactions across
multiple parallel blockchains. Some of us have witnessed the
CryptoKitties craze that clogged up the entire Network back in the
back.
Today we are running into similar issues with Ethereum Network due to the popularity of DEXes, mainly started with Uniswap mania. When the network is busy, you get a lot of failed transactions, incredibly high gas fees, these are the costs that the buyer side needs to bear. We are planning to have a bridge on Ethereum <> Polkadot Networks in order to reduce costs of each transaction and balance the load on the Ethereum side of things while doing so. Polkadot doesn’t need hardforks to upgrade itself for integrating new features or fixing bugs.
The Substrate framework development is hassle free and convenient. Also the Polkadot Network has its own governance system which is in line with the vision of our project, which will have governance features where all stakeholders have a say in the very near future. We are also a member of Crypto Valley Swiss and our partner Bitbrain is located at the heart of Zug, neighbors and are in close connections with the web3 foundation. As the phrase goes we are in the position to rub shoulders with them, although we do not rub shoulders due to Covid-19 restrictions at the moment :blush:
Q8 from Telegram Username @konditer_rolex
I
read about the steps you took to convince investors to boldly invest
in Defiance. Of course, you will now voice them for all of us. But I
would like you to add some information about who had pre-sale
privileges.Who was allowed to buy more than 10 ETH of your tokens in
October?Are there currently blocked accounts or have investors of all
categories already received their tokens?
Giorgio
It
happened like 1.5 months ago and we have recently closed the private
sale.
The
private sale allocations mostly consisted of people/communities who
have contacted us and have proven that they have the potential to
make a positive contribution for the long term success of the
project. These allocations are capped, so we didn’t allow any whales
to take hold of the majority of the tokens and kill the project
before it even starts.
Q9 from Telegram Username @cryptonatorswiss
Your
partnerships and collaborators are based in Switzerland. What is the
reason for this or do you live in Switzerland?
Charlie
I
and a few other teammates live in Switzerland, and Switzerland is the
best place to start a cryptocurrency venture!
Btw,
didn’t you see the photo I took in front of my web3 foundation?
Q10 from Telegram Username @Pratze
Yesterday
I try to access Defiance website but there is an error in there. What
happen to Defiance website? It is still safe to do invest with
Defiance ?
Erik
Our
systems have undergone an intense DDOS attack yesterday, during the
first day of the public sale and the network where our website was
being hosted become clogged and unable to respond. As we were trying
to tackle with this challange, we have received some private messages
and offers from some parties, offering their services to stop this
DDOS attack. We have not given in to these extortions. They wanted us
to pay them some ETH to stop this attack. We do not want to endorse
this kind of threats in the crypto community. For this reason, we
have built a system that consists of several different servers with
cluster and load balancing systems under a new server infrastructure.
If a similar attack happens, they need to overcome several security
measures. In addition to that we have 2 more backup servers with the
same precautions taken and they are ready to be used as a back up
system.
It
is also possible to contribute to our Public Sale directly using the
public sale token contracts, which is described in our Buying guide
here:
Part 1: 30 BUND /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: 30 BUND/10 users – Open chat for 100 seconds. You can post Max 3 questions. BundlesFinance Team will select 10 questions and answer them.
Part 3: 140 BUND – A quiz about BundlesFinance
For more details:
BundlesFinance – @BundlesFinanceDiscussion
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
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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$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Flare Finance Team will select 10 questions and answer them.
Part 3: 700$ – A quiz about Flare Finance
For more details:
Flare Finance – @FlrFinance
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Russian – @satoshi_club_ru
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Part 1: 10 NDR /12 users – We’ll select 12 questions from the community. A user can post maximum 3 questions. 12 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 10 NDR/15 users – Open chat for 100 seconds. You can post Max 3 questions. Node Runners Team will select 15 questions and answer them.
Part 3: 6 common cards $1200 (market value) and 2 rare cards $1600 (market value) – A quiz about Node Runners
For more details:
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Russian – @satoshi_club_ru
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