Satoshi Club

Sifchain is the brainchild of Sif, the Norse goddess of earth, agriculture, fertility, family, and marriage.Today we would like to tell you about the AMA session with our friends from Sifchain. The AMA took place on November 9, our guest was @Omni_Skyfather.

The total reward pool was 800$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello,Satoshi Club! We are happy to announce our AMA session with Sifchain! @Omni_Skyfather welcome to Satoshi Club. 😀

Odin Borson: Great, exciting to be here.

Mary | Satoshi Club: Please, introduce yourself and Sifchain project.

Odin Borson: I am a pseudonymous entity representing https://sifchain.finance/our-team/

We try to keep it focused on the team as opposed to individual members, but it’s no secret that a lot of our credibility lies with the fact that we have so many members from the Thorchain team, including its early architect.  This gives us a lot of credibility and experience with cross-chain software and AMM token design.

Jazear did not just early architecture on Thorchain but helped with development on Cosmos’s official Ethereum <> Cosmos bridge for the Interchain Foundation and the Polkadot <> Ethereum bridge for Web 3 so we really know cross-chain.

Beyond that, our team has a lot of experience with other crypto projects including a YC backed crypto startup and multiple crypto exchanges. Purely on the dev side, we have over a dozen engineers, most of whom have prior blockchain dev experience and strong business development or marketing experience from many major projects for our operations team.

D. | Satoshi Club: Thorchain is also your project?

Odin Borson: We have team overlap, there’s a horde of anonymous people on Thorchain.

Mary | Satoshi Club: Whos idea was to create Sifchain?

Odin Borson: A few of us came together, saw the need, and designed it together.

Q1 from Telegram user @wicksterr

You process a lot of more transactions than ETH DEXes, that’s true. Cosmos allow that. However, is this enough to be successful? There are many blockchains which try to compete with ETH for DEXes, like Tron for example, but with not so much success. What will you do differently?

Odin Borson: 1. There are a few cross-chain projects but no omni-chain projects.  We would be the only place to actually trade across all of the major cryptocurrency blockchains.

2. We actually let you trade with the liquidity from other tokens. It’s not just about letting people express a trade related to a cryptocurrency on another chain. You can just do that with a price oracle if you want.  We are focused on letting people actually take the tokens they earned from previous token sales and use those for cross chain liquidity. A lot of cross chain solutions are still nascent in this area. And we know most of them. None of them work for the 20 to 25 chains we want to support.

3. We offer so much more. There also aren’t any good platforms to do margin, limit orders, and swaps on the same self-sovereign chain.

4. We plan to offer other features besides the ones we have publicly listed. Actually, we are building Sifchain to be more of a framework upon which we can deploy arbitrary crypto economic models.  We just need to get the basic infrastructure down first.

Mary | Satoshi Club: You really offer a lot) Can you explain in details how i can use tokens earned from previous token sales for cross chain liquidity?

Odin Borson: Yeah sure. We are launching Sifchain with Ethereum support so it will work out of the box with any ERC-20 token you buy.  For each of our target blockchains (for example, Stellar, Cardano, and Litecoin), we will build a cross-chain bridge.  When we do, people will be able to use those on Sifchain as well.

The process is the same for them all, you can deposit a native token into a secure lockup group and mint a pegged token on the Cosmos Network, where Sifchain resides.  You can always go in the reverse direction to unlock any tokens or take away any gains you made from trading on Sifchain.

D. | Satoshi Club: Sounds fantastic! i like it. but you need somehow force most of people to use all of this. because they don’t want to use anything except btc and eth. 😁  

Odin Borson: Well every block chain has its own community. Remember that projects like Polkadot, Cosmos, and Tezos are where Ethereum and Bitcoin used to be.  I also think people underestimate the benefits of performance gains.

Mary | Satoshi Club: Yes, but it is hard for understanding from the beginning, this thing has to be user friendly, because most people will just ignore them.

Odin Borson: That’s true. We’ve got a lot of investment in UX that we are excited to share.

Here is one more

D. | Satoshi Club: What wallet we will able to use there?

Odin Borson: We’re targeting Metamask but you can use any Ethereum wallet for the Ethereum side.  On the Sifchain side, we’re targeting Cosmos solutions like Keplr for wallet.

Q2 from Telegram user @vinniepu

Sifchain will rethink the formulas used for liquidity pool algorithms from first principles of complexity theory to implement adaptive AMMs suitable to limit orders and token swaps alike. This sounds beautiful and complex, but what exactly is the complexity theory? Was it applied in practice by other projects or it is just a theory for now?

Odin Borson: Complexity theory is the literally the theory of complex systems.  It has been applied in many cases.  Here is one of the most famous institutes on it https://en.m.wikipedia.org/wiki/Santa_Fe_Institute

It has been pretty important for market design https://en.m.wikipedia.org/wiki/Market_design

Mary | Satoshi Club: It’s already being used. Check out www.block.science for more or https://tokenengineeringcommunity.github.io/website/

Q3 from Telegram Username @PaoloMonte87

In the litepaper you state that tne CLP is used for trades directly involving Rowan, two CLPs are used for all other trades. So for example, the USDC:BTC internal price is calculated using the USDC:ROWAN and ROWAN:BTC CLPs. Does that mean the price can be different from external sources (other CeXes/Dexes/LPs)? Doesn’t that open the window to potential arbitrage exploits?

Odin Borson: All exchanges have arbitrage potential, we expect people to run arbitrage bots to keep prices roughly even.  Actually, we encourage it! As for exploits, we are not as vulnerable as other exchanges.

Mary | Satoshi Club: So, how it will happen. Can you explain process? What i will need to do?

Odin Borson: Trades on Sifchain are priced using the CLP price, not an external exchange’s price.  No external oracle can be manipulated to set the price for tokens swapped on Sifchain, like they can be for other exchanges like BzX. If Sifchain’s CLP price is different from the market’s price, someone will step in to swap.  That’s natural arbitrage which we support.

Artificial arbitrage exploitation through a sandwich attack or a flash loan isn’t possible.  If the attacker manipulates the price, he will have to pay that same price on Sifchain, resulting in no incentive to try it.

Q4 from Telegram Username @Jonahapagu

Sifchain is implementing a Hybrid Orderbook and CLP can you explain what components makes up your hybrid orderbook and why this is important to Sifchain?

Odin Borson: Sifchain limit orders are executed against the CLP.  For example, if you set a limit order at 7950 and the price is 8k and then drops to 7900, your trade will be executed as a swap against the CLP with an average price of 7950 or less. This hybrid approach allows us to store liquidity in liquidity pools but still have limit orders at all.  Limit orders by themselves are still precarious on DeFi platforms.  You can get more liquidity for limit orders on a DEX by executing them against a liquidity pool than only against other limit orders or market orders. 

This is important as a feature because it lets traders who use limit orders, which is most of them, express trades on Sifchain and those drives dramatically more trade volume to the platform.

Mary | Satoshi Club: So, in simple words, i would be able to use this orders on Sifchain DEX like i am using on CEX exchanges? Just it will be possibility that i will buy even cheaper, then my order was? Or i misunderstand?

Odin Borson: Yeah you got it. 🙂

Q5 from Telegram Username @reinleoken

With Rowan token as the governance token for Sifchain, can users purchase the token or would it only be given to validators as block reward?

Odin Borson: Users will be able to purchase the token. We will announce token sale plans soon.

Mary | Satoshi Club: Do you have any details you can share with us now? Or everything later?

Odin Borson: Well we’re going to share the details a bit later this month, the token sale will happen in November. It’s probably best that we make an official announcement than drip anything here.

Q6 from Telegram Username @konditer_rolex

I saw your ad on Cryptocurrencyjobs. You are looking for a chief of staff. Did you recruit the entire team by ad? Is there some core of the project? How many people are at the origin of Sifchain? And how many people are involved in the development of the project?

Odin Borson: We have a few engineers from Thorchain, a few from previous projects we’ve worked on, and a few from external sources.  We have over a dozen engineers across blockchain, test, and front end, and devops (which we call chain ops).  Then we have people working on marketing, operations, business development, and other functions.

If you are worried about outsiders participating versus a core team, this project isn’t for you. We are going to heavily scale development by both bringing on additional engineers and tapping into the community for collaboration across Gitcoin, grants, dev shop partnerships, and other vectors. 

We expect this project to be a proper open source protocol where the entire community participates.  We are actively looking to build up SifDao to own the entire operations of Sifchain and will give it some token allocation right at the start of the sale to do this.

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram User @Gutike95

The other DEX exchangers of multiple chains have been developed with the Polkadot technology, allowing you great ease to do so, how did Sifchain Finance achieve interconnect the chains without it (Polkadot)?

Odin Borson: We are built on the Cosmos SDK framework but we have built interoperability to other chains.  We are excited for Polkadot to be one we connect to eventually.

Q2 from Telegram User @Beterror203

Decentralized exchanges are in a better position to maintain sufficient liquidity in the market at all times, by working on Blockchains like Ethereum, decentralized exchanges face a challenge with transaction execution times as well as their commissions, which makes it trading these exchanges is expensive and complicated. For traders, as Sifchain as a decentralized exchange and under a Thorchain and Cosmos infrastructure, can it cover the solution for these problems in general and offer the trader a better experience?

Odin Borson: Well Sifchain has the advantage of being 100x faster than Ethereum.  That said, we need to build wallets, block explorers, and other tools to make it easy for people to use our platform.  I think we’ve done a good job here.

Q3 from Telegram User @brodzonl

Sifchain will support Cross-chain transactions for 20-25 of the top blockchains. Will there be developed wallet for Sifchain so we can have one wallet for all blockchains?

Odin Borson: Maybe.  We think the Asgardex wallet is best for this and may contribute to its development. https://github.com/thorchain/asgardex-electron

That said, Sifchain’s pegged tokens can all be traded in the same wallet, regardless of where the native token came from.

Q4 from Telegram User @adityaaryah

Sifchain reseted the testnet to implement cross-chain Ethereum transfers, I need help connecting to the Monkey Bars testnet, how do I go about it?

Odin Borson: This is definitely something you should ask on Discord https://discord.gg/wYeDHkYK

Q5 from Telegram User @araceley

Can you please share more details about the UI and architecture for cross-chain Ethereum transfers on the testnet?

Odin Borson: We shared a screenshot earlier. For the architecture, I recommend https://github.com/Sifchain/peggy/blob/develop/docs/sifchain-peggy-architecture-no-ibc.md

Q6 from Telegram User @leixagarcia

Reading the documentation of your project I came across two tokens inside Sifchain $Rowan and $SifDAO Can you explain us how each one will work? Which one will be the most important?

Odin Borson: Sifchain’s only token is Rowan, SifDAO is an organization, not a token.

Q7 from Telegram User @Boylut

When will your IBC protocol go live?

Odin Borson: We’ve been working on this for a while. Actually, IBC still has some room for development before it can be used in production by any chain, including the Cosmos Hub.  I expect we will be one of the first to launch with it after checking with other Cosmos developers.

Q8 from Telegram User @Mantapkansuasana

Now, the token launch process is easy, but to develop the ecosystem, stabilize prices, expand the market is a challenge in every project? So what are your team first steps towards solving this problem? what is your plan to maintain token price & supply in the market?

Odin Borson: I like this question. We need to be viral about growth. We’d like to do a bunch of business development deals with successful traders to drive liquidity to the platform which will in turn drive up token price.  Referral tools are sorely under used in the crypto space in our opinion.

Q9 from Telegram User @leixagarcia

The first time I came across the term omni-chain, I had Google it try to understand it, but it wasn’t totally clear. Can you explain it to us and mention its application within SifChain?

Odin Borson: Yeah sure. We are going to try to build bridges to 20 to 25 different blockchains. We think by the time we do that and open source the schematics, people will be able to easily add additional bridges on their road. If we can get all bridges to all other cryptocurrency’s, we will be omni chain.

Q10 from Telegram User @yzmoney

You have a lot of big backers and partners; how do you manage get them to invest in sifchain?

Odin Borson: They see what we see and what we hope you see as well, strong opportunity to advance the ecosystem.

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Sifchain A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 500$ were distributed between the winners.

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

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

Sifchain Community: https://t.me/sifchain

We are pleased to announce our next AMA on November 15th 2020 at 04:00 PM UTC Time: Satoshi Club x Debaseonomics

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

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

Part 3: 700$ – A quiz about Debaseonomics

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

We are pleased to announce our next AMA on November 20th 2020 at 02:00 PM UTC Time: Satoshi Club x VAIOT

⚠️Click to see the hour
⚠️Total Reward pool: $800

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

Part 3: 500$ – A quiz about VAIOT

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

We are pleased to announce our next AMA on November 18th 2020 at 02:00 PM UTC Time: Satoshi Club x Allwin

⚠️Click to see the hour
⚠️Total Reward pool: $800

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

Part 3: 500$ – A quiz about Allwin

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

We are pleased to announce our next AMA on November 16th 2020 at 02:00 PM UTC Time: Satoshi Club x Zelwin

⚠️Click to see the hour
⚠️Total Reward pool: $800

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

Part 3: 500$ – A quiz about Zelwin

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

Hello, Satoshi clubbers and guests of this site. Glade introduces to you the crypto project SpaceMine. This project created an opportunity to earn money through a fabulous journey around the planets. Explore space, the final frontier 😉 visit different planets, complete quests, and learn about DeFi. New to farming? No problem! Complete the quests to learn all about farming and earn rewards in the process. Enjoy your SpaceMine adventure, get yields, and utilize our suite of tools to navigate DeFi with ease.

The AMA session was divided into 3 parts with total crypto reward pool is 800$.

Leading the AMA our clever and fun admins:

Luis Merino 🇪🇸 | Satoshi Club @LuisMe7

Gold Rocket | Satoshi Club  @GoldRocket27 

The Representative of the project: @Jon0x Captain of the Starship Enterprise @spaceminedefi

PART 1. INTRODUCTION of Spacemine DeFi PROJECT AND COMMUNITY QUESTIONS.

Introduction of Spacmine DeFi:

Luis Merino 🇪🇸 | Satoshi Club:

Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club. Today we have SpaceMine DeFi with us.

@Jon0x , @defi_bane welcome 🙂

Gold Rocket | Satoshi Club:

So! We continue our amazing attraction! The AMA marathon continues!

Jon0x:

Answer for a question – SpaceMine weblink??? – from  @AmitGoyal1444 Unfortunately, we’re under DDOS attack at the moment, the website will be back up in a few hours

Luis Merino 🇪🇸 | Satoshi Club:

Second AMA today! 🙂

DeFi_Bane:

Answer for a question – SpaceMine weblink??? – from  @AmitGoyal1444

https://spaceminedefi.com/

Gold Rocket | Satoshi Club:

@Jon0x , @defi_bane welcome to Satoshi Club 🙂

Jon0x:

Hello! Great to be here

Gold Rocket | Satoshi Club:

Thanks again for joining. To begin with, please tell us a few words about yourselves and how did you get to be involved in SpaceMine DeFi @Jon0x , @defi_bane

Jon0x:

Thank you for having us!

Hi everyone. I’m Jon, the captain of the Starship Enterprise here at SpaceMine.

I don’t have a ton of blockchain development experience, worked on a few open-source libraries here and there. In my normie life, I’ve been working for a fintech startup, along with the other two SpaceMine devs, and we were acquired for almost half a billion within 5 years of operation. So we know a thing or two when it comes to fintech products and user experience, and we’re used to an agile development environment that executes and iterate fast

The idea of SpaceMine started when I saw how fast DeFi adoption grew over the summer this year. I firmly believe that DeFi will inevitably breach the broader market and start attracting norms. And we want to position our platform as the one-stop destination that will provide everything DeFi offers in terms of investment management and trading support, and build a gamified experience on top of all that utilizing our team of game designers, to help the normies navigate DeFi with ease.

Gold Rocket | Satoshi Club:

Thanks for the great intro! How big is your team?

Jon0x:

Our team currently consist of 3 developers, 2 designers and a community manager

Luis Merino 🇪🇸 | Satoshi Club:

Small one!

Jon0x:

Yeah this is our founding team, as the platform grows I expect we’ll be adding on to it

Luis Merino 🇪🇸 | Satoshi Club:

Sounds good!
Any plans to expand it? Or maybe launching an ambassador program to increase your adoption and community?

Gold Rocket | Satoshi Club:

Yes, Would you like to share more or move on to community questions?

Jon0x:

I’m fine with kicking off Q&A 😊

Selected questions for a Spacemine DeFi crypto project:

Gold Rocket | Satoshi Club:

Q1 from Telegram users @AmirJosh

SpaceMine’s ultimate vision is to build a gamified experience that simplifies DeFi for all users. So using your platform is like playing an online game?

Jon0x:

In our roadmap it points out that gamified user experience will not happen until phase 3, we are currently prioritizing rolling out features. So in the first 2 phases, our platform will be a typical DeFi platform, amid better design and graphics 😊 but small features that make the experience more game-like will be added along the way. Once phase 3 kicks in, our plan is to use a game-like experience to help educate users about DeFi, for example when you pick a character and start a brand new adventure as a complete beginner, the only Vault strategy available for you will be of beginner tier risk tolerance, and by completing the quest and answer a quiz about smart contract risk & impermanent loss, you’ll earn rewards and unlock higher risk tiers

Gold Rocket | Satoshi Club:

It sounds good

Luis Merino 🇪🇸 | Satoshi Club:

Love the idea about your roadmap!!

Jon0x:

Next question?

Gold Rocket | Satoshi Club:

Q2 from Telegram user @surdumiha

The total supply of $MINE is 96,000. 70% of all $MINE will be distributed via liquidity mining. That’s a lot and it’s good that it will be distributed only to people who are interested in your token. For how much time have you scheduled to distribute that 70%?

Jon0x:

The emission schedule is in our first medium article.

Gold Rocket | Satoshi Club:

Can you share a link to the article?

DeFi_Bane:

https://spaceminedefi.medium.com/spacemine-all-your-defi-needs-in-one-game-f6988034d03e

Gold Rocket | Satoshi Club:

Thanks, guys! You are lightning-fast!)))

Luis Merino 🇪🇸 | Satoshi Club:

Seems like they had the answers ready… 🤣

And what about the other 30% left?

Will it be for the team?

Jon0x:

10% is for the team, but vested linearly over 6 months 🙂

Gold Rocket | Satoshi Club:

It’s  improvisation 😂🚀

Luis Merino 🇪🇸 | Satoshi Club:

And the other 20%?

Jon0x:

10% minted for Treasury, this portion will stay locked until governance is enabled, and the community can decide what to do with it, let it be airdrop or burn or for gaming rewards

Jon0x:

then 8.33% is for our whitelisted presale, 1.67% for initial Uniswap liquidity

Luis Merino 🇪🇸 | Satoshi Club:

Got it! Thank you :)) Q3?

Gold Rocket | Satoshi Club:

Yes everything is clean

Q3 from Telegram user @johnnysencik?

You have distributed a portion of the tokens for the pre-sale. Please tell us what were the conditions for the presale participants and what price they had? Because if their price is low and if they don’t have vesting, they might dump the price.

Jon0x:

The presale hasn’t happened yet! More details about the presale will be posted in the coming days. We just started our invite contest and creativity contest and winners will get spots on the whitelist 😊 for anyone interested

Gold Rocket | Satoshi Club:

But do you already know the pre-sale date?

Jon0x:

Yes it will be on November 19th, right after the end of our contest

Luis Merino 🇪🇸 | Satoshi Club:

Quite soon… 😏

Gold Rocket | Satoshi Club:

Excellent! can you give a link to this contest for the Satoshi Club @Jon0x

Jon0x:

https://spaceminedefi.medium.com/contests-are-live-40aa765f3565

details about the contests are in this article 🙂

Luis Merino 🇪🇸 | Satoshi Club:

Will check it as soon as the AMA finishes. Seems to be a great contest

Thank you for your answer

Ready for Q4?

Jon0x:

Of course!

Luis Merino 🇪🇸 | Satoshi Club:

Q4 from Telegram user @PaoloMonte87

Planets and planet’s mining sounds like the birth of a whole new universe? Can you tell us more about the mechanics behind this “gamified experience2, as you call it? Will we be able to discover planets? Own them? Even wage war to other players planets? What can we expect?

Jon0x:

Each planet represents a DeFi feature, such as the Farm planet is for our initial liquidity mining, Swap is for DeFi aggregated swap that automatically routes your order to the decentralized exchanges and synthetic providers with the best price, Vault and Governance pretty self-explanatory. More planets will be added in the future for our space miners to discover! Make sure to check out our roadmap article for more details on what’s coming

https://spaceminedefi.medium.com/spacemine-roadmap-19979d24c39c

Luis Merino 🇪🇸 | Satoshi Club:

So fast Jon! You had all the links ready

Gold Rocket | Satoshi Club:

Great!

Luis Merino 🇪🇸 | Satoshi Club:

😀

Jon0x:

😄 thanks!

Luis Merino 🇪🇸 | Satoshi Club:

I have no questions at all for this one. @GoldRocket27 do you?

Gold Rocket | Satoshi Club:

@Jon0x: sir! it’s a pleasure to deal with you)))

Gold Rocket | Satoshi Club:

Everything is clean for me too!

Luis Merino 🇪🇸 | Satoshi Club:

Q5 then

Gold Rocket | Satoshi Club:

Q5 from Telegram user  @cengizhantekin

SpaceMine automatically routes the orders of users to the exchanges and synthetic asset providers. What technology are you using to achieve this functionality?

Jon0x:

We have a wonderful partner Totle that makes most of the logic happen, they’re also one of the main partners that powers MetaMask Swap. We differentiate ourselves from MetaMask Swap in the sense that we’ll be supporting multiple wallets, and MetaMask charges 0.875% per trade vs ours will be 0.475% (can be changed through community governance). The transaction fee collected will be used to market buy $MINE, our main platform token, and therefore support the ecosystem

Luis Merino 🇪🇸 | Satoshi Club:

Btw, when was SpaceMine DeFI launched?

Jon0x:

Just a few days ago 🙂

Luis Merino 🇪🇸 | Satoshi Club:

And you already have partnerships! Sounds good. That’s a great way to go

Gold Rocket | Satoshi Club:

I hope you share with us

Jon0x:

Our development has been going on for much longer

Luis Merino 🇪🇸 | Satoshi Club:

That’s what I thought 😊

How much have you been developing? When did you come up with the idea?

Jon0x:

We started discussing the idea somewhere around August, officially assembled the team and started development end of September.

Luis Merino 🇪🇸 | Satoshi Club:

Thank you for the info😀 Ready for the last question of part 1?

Jon0x:

Yes can’t wait!

Luis Merino 🇪🇸 | Satoshi Club:

Q6 from Telegram user @Jonahapagu

You said that once your platform has reached a sufficient size and the community stabilized, you will give the community full control over the governance of new strategies, as well as the deployment of treasury funds. How do you intend to fully give control to your community (is this really possible), and what is this “treasury funds” that will be deployed, what will it be used for

Jon0x:

We will have both on-chain and off chain governance, platform parameters voted by community governance will be applied via a smart contract with no manual steps, and yes it is possible. We can’t fully give control to the community though, the team will still be driving the design, development, and direction. The community can vote on platform parameters such as swap transaction fees, risk scores, etc. And off chain decisions such as which Vault strategies to deploy, and how to use the treasury fund. As I mentioned above, how treasury fund is deployed will be the community’s decision, we can airdrop, or burn, or use them for platform rewards

Gold Rocket | Satoshi Club:

@Jon0x: after you answer Q6 get ready for Niagara Falls from questions !!!😁

Jon0x:

Love it!

Gold Rocket | Satoshi Club:

😁 me too! Satoshi Club is the best community❤️

Luis Merino 🇪🇸 | Satoshi Club:

Any launching dates for this governance process? Maybe it is in your roadmap?

Jon0x:

Governance and Vault will launch roughly a month into our liquidity mining process when more than 50% of $MINE has been distributed. But before all the contracts are developed and well tested, and frontend integration wrapping up, we’re not going to give a definitive date. One should always under-promise and over-deliver, not the other way around. 😊

Luis Merino 🇪🇸 | Satoshi Club:

Got it! Looking forward to its launch 🙂

Anything else you want to add? 😉

Jon0x:

Not much, these questions were great! Very spot on

Luis Merino 🇪🇸 | Satoshi Club:

Yes! They were amazing 🙂

Luis Merino 🇪🇸 | Satoshi Club:

Ready for part 2 then?

Gold Rocket | Satoshi Club:

I really like your answers! thank you very much!

Luis Merino 🇪🇸 | Satoshi Club:

A huge bunch of questions arriving…

Jon0x:

Yes! 👍

Luis Merino 🇪🇸 | Satoshi Club:

Chat will be open in 20 seconds…

PART 2.QUESTIONS for a CyberFi DeFi PROJECT from TELEGRAM COMMUNITY LIVE

In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts have earned cryptocurrency.

Q – 1 from a telegram user @Jonahapagu

I read that your Vault strategy has Different risk Tolerance tiers from beginner to Expert.. can you explain these tiers and the risk tolerance for each level going up from a beginner to an Expert.

Jon0x:

Our beginner risk tolerance will be simple and secure protocols, such as lending platforms. Users are not going to be exposed to smart contract risk or impermanent loss. our current strategy in development is stable for stablecoins, and a lending strategy for ETH. The intermediate level would expose users to at least one risk —- smart contract risk (farming new protocols), or impermanent loss (farming with pairs) and our expert-level strategy needs its own article that we will release in the future It’s a foreign direct investment vault, where the fund will be used not in DeFi protocols 🙂

Q – 2 from a telegram user  @KeymerS

I understand that your team is working to develop the “technology, the necessary partnerships”, but really what technology do you need that you can’t get with an association? and what companies do you plan to establish? what is missing from Space Miner DeFi?

Jon0x:

All our codes are developed ground up, we don’t fork any existing protocols. We do utilize partnerships wherever we can, for example, Totle powering our swap functions, and Zerion doing most of the heavy lifting of portfolio tracking, and we’re in discussion with Blocknative to develop our trade support (limit order/stop-loss order functionalities) leveraging their mempool monitors.

Q – 3 from a telegram user @jobel4

LP Pool participants enjoy a 12x boost in reward distribution compare to other pools. Can you explain more about how to earn 12x inyo your pools? What are the mechanisms and algorithms being applied to this feature?

Jon0x:

$MINE/$ETH LP pool simply emits 12x faster than other single token pools. We want to give everyone in DeFi a chance to get $MINE for free, but at the same time, we want to reward those who believe in and support SpaceMine proportionally.

Q – 4 from a telegram user  @Beterror203

SpaceMine also plans to dive into the world of NFTs?

Jon0x:

We have amazing designers! And we have a secret project to be announced once Vault launches, 🤔

Q – 5 from a telegram user @KhaleesiTheCryptoLady

As I observe mostly DeFi projects have similar aims and this is to be the one-stop destination for all DeFi needs, what makes you different among these other DEFIs which could turn investors investing in your project?

Jon0x:

Our dev team has been in fintech for a very long time, there is a vast amount of knowledge accumulated from actually developing client-facing fintech services and optimize the user experience. Combine that and our outstanding design and gamification aspect, I believe is what will make us stand.

Q – 6 from a telegram user  @Damiya1

What are the ways that #spacemine Defi generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investors and your project?

Jon0x:

All of the fees generated from the platform will feedback to the ecosystem, Swap transaction fees which kicks in as soon as liquidity mining starts, advance trade support and portfolio management will have a similar structure, and so on.

Q – 7 from a telegram user  @Jonahapagu

You currently have 9 liquidity pools out of which 8 are single token pools why did you create single token pools instead of the Dual token pools we are well familiar with, what difference and importance does this bring, and for the 8 single tokens how were they selected and do you have plans of increasing the number of pools in the future.

Jon0x:

We want to give everyone in DeFi a chance to get $MINE for free and risk-free. I mean if you’ve been using DeFi protocols, most likely you own some of these tokens. They are selected randomly, since there are too many good DeFi protocols we can’t include every single one. There will be no future pools.

Q – 8 from a telegram user  @AmirJosh

Your published SpaceMine roadmap on medium indicates just the Phase of the project and not the actual calendar dates. Where can I find the information about the SpaceMine platform’s timetable?

Jon0x:

I understand a lot of projects put up a detailed quarterly/monthly roadmap, but in the end, those end up being just targets, and more often than not those targets are missed. From my own development experience, it’s difficult to even estimate the effort for a single user story accurately. Therefore we can only provide a rough guideline in terms of when the NEXT stage will happen, for example, Vault and Governance will kick in roughly a month after liquidity mining starts. And we will announce set dates when all the development work is wrapping up.
Q – 9 from a telegram user @KeymerS

Will they have any limitations, restrictions, or penalties in the event that a user does not fulfill the missions in a set time or cheats another user? or will it be totally free of punishments and penalties?

Jon0x:

There will not be penalties in SpaceMine, the penalty for not being informed when playing DeFi is that you get burnt 🙂
Our secret project though contains the idea of competition, so if you lose the game you will incur some losses
Q – 10 from a telegram user @Gutike95

Really this initiative of “invitation contest and creativity contest” are great, do you plan after they finish creating other contests? You could create a “Meme Creation Contest” referring to DeFi or DeFi games, sure that will attract more users.

Jon0x:

The meme is included in the creativity contest! We love memes the more the merrier! There will not be other contests for the whitelist, but an open registration for all near the end of the current contest, where all you need to do is be on time and answer some questions about SpaceMine to secure yourself a spot on the whitelist!

Part 3 – Quiz about project Spacemine DeFi.

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. Participants had 10 minutes to answer. 500$ 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: Spacemine DeFi

Telegram  |  Tweeter  |  Website  |  Medium

We are pleased to announce our next AMA on November 14th 2020 at 06:00 PM UTC Time: Satoshi Club x JustLiquidity

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

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

Part 3: 300$ – A quiz about JustLiquidity

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

Meme projects gain a lot of popularity lately. And today we would like to tell you about the AMA session with our friends from SERGS. The AMA took place on November 04 and our guests were Crazyfrog and Varun Ravi.

The total reward pool was 1500 SERGS 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 again, Satoshi Club! We are happy to announce our AMA session with SERGS! @VarunRavi23 welcome to Satoshi Club:grinning:

D. | Satoshi Club: hello Satoshi club! 👋 @VarunRavi23 how’s it going?

Varun Ravi: We are happy to be here too.

Mary | Satoshi Club: We were waiting for this AMA for a long time:joy: Guys, please, introduce yourself and of course your SERGS project :grinning:

Crazyfrog: Hello SC community! This is crazyfrog, the guy who found this meme project called SSL.
To introduce about myself, nothing much. Just a common man like u all. I’m from singapore and 27yo. So my years of experience in cybersec field is only 3 years.This is my first defi project.
Wasn’t comfy doing all one man as I’m dealing with finance. So another dev who’s assisting me is from Zilliqa team. He’s ex dev of zilliqa. So I’m working along with him to deliver the dApps.
To tell about SSL, it started as a meme project. Had zero utility,no dApp, no website on early days. SSL token was airdropped for the memes and what happened next was just reverse engineering. It got the demand, I dunno for what reason. So we chose to build an ecosystem around it and have a meaning for ppl to own that token.
So we came up with the 2-token model system. Couple of days back our LP staking pools went live. Following next will be NFT farming.
And I know many ppl are concern about anonymous devs behind a project.
I have addressed that in below thread. Feel free to read it up
https://twitter.com/SergeySaveLink/status/1323367091102081024?s=20
My personal thread addressing anonymity concern, to each and every investors!
Peace. -CF

Mary | Satoshi Club: Congratulations with the start:+1: i see, that you never know where the way should lead you:joy: As you didn’t know with SSL) Why SergeySave, do you think you need to save him?:+1:

Crazyfrog: Yup! I had 0 plans, that’s why u are seeing a ridiculous supply for SSL. As this project dint started with a plan.

Which was the main reason for us to come up with 2-token model and introduced SERGS with proper tokenomics and functions.
So SSL will be the governance token, which will also act as multiplier for NFT farming.
SERGS will be the gateway token to farm and mint NFTs. Sergs token contract have 2.5% tx fee for every trade. This will be the protocol fees for both SERGS and SSL holders, and also for liquidity providers.
Okay… I’m huge fanboy of LINK. Been into for almost an year.
the reason I came up with this name is bcoz a month back.. LINK was drowning. It had the momentum and got back.
So this meme token was airdropped to convey the message… Sergey saved link by buying all the weak hand bags. That’s about it. Just for the memes

Mary | Satoshi Club: I like the structure, do your members enjoy it?)

Crazyfrog: So far so good. Ppl find it interesting. And SERGS is a deflationary token as well. We will burn it everytime the fee treasury exceeds 50K sergs. We burnt 61K SERGS couple of days back.
So the supply of SERGS will be reduced and burnt until it hits a cap of 110K

Varun Ravi: Basically the ssl and sergs ecosystem will have

1. Staking
2. Liquidity farming
3. Protocol fees
4. Nft
5. Governance
6. Deflationary asset

Crazyfrog: 1,2,3,6 is completed and live. Following will be 4,5

Mary | Satoshi Club: A lot of my favourite things in one project:+1:

Varun Ravi: Most of it is community driven that’s what we like about the project. For example the burn was something we were thinking about but when we realised the community felt one was ideal for the ecosystem we decided to go with it. We are very proud to be a community project. Always open to ideas and inputs.

Mary | Satoshi Club: I see, thanks:+1: community is really important, with it you can make a lot)

D. | Satoshi Club: @cra2yfrog thank you! great intro! can you tell about origins of the name SERGS?:blush:

Crazyfrog: Started with SSL… and so our 2nd token, we named it as SERGS… just to follow the trend on how it started first.
Liquidity providers farming is live at https://app.sergs.link
2.5% Protocol fees will be flowing to fee treasury everytime there is a trade for SERGS.
Burning will be done via the contract. And we already completed our first burn of 60K SERGS, approx 30K USD.
Regarding fee structure and the treasury info, u guys can have a read in the below article
https://sslcomms.medium.com/sergs-ssl-ecosystem-fee-structure-97dd8a4dffb7

Q1 from Telegram Username @JoanaZ

The Official website shows details about SERGS token, but nothing about the SSL Tokenomics. So can you share and explain It to us please?

Crazyfrog: Actually the website have ssl tokenomics, guess they overlooked.
Anyways let me write it up here too.. SSL’s total supply is 1100. I know this number is funny and ridiculous. Bcoz that’s how this project started, I had only plan to airdrop it and that’s about it. But demand for it pushed us forward to build an ecosystem around it.
90% of the supply(1000) was airdropped a month back to 500 members from TG, 2 each.
The value of SSL started with $3 and remaining 100SSL was added for liquidity.
I feel it was just a psychological factor that made ppl buy this. All ended up loving Low supply and they want instant Xs. But that was never my intention. Whole point was to get it airdropped and enjoy my link ride.
So due to lack of liquidity, it suffered alot growing. Bot kept nuking. Few of the community members added liquidity and made it grow.
SERGS is totally opposite. It was planned with proper tokenomics.

Mary | Satoshi Club: Low supply always attractive 🙂

D. | Satoshi Club: ok, now 1 ssl coasts more that 200 bucks, not bad for meme token:grin:

Crazyfrog: Yup, usually low supply avoids all this inflation. It was Andre who started that logic and almost most of the DeFi projects adopted to low supply tokenomics

Mary | Satoshi Club: It was a good airdrop for those who hodl:joy: Yes, last years we saw projects with billions. Now – thousands and hundreds)

Varun Ravi: Ssl hit an ath of 1.5k usd for a meme token but what we have planned for sergs is something huge even within the nft space. It’s all about things falling into place now.

Crazyfrog: We have progressed well so far guys. For last 1 month.
It went upto 1.5K, that time it had no website too. Until now I have no idea why ppl bought it. It might be due to DeFi hype those days
It was basically a zero utility token back then

Mary | Satoshi Club: Let’s see what will happen next, after it has) And when NFTs?)

Crazyfrog: Aiming it by Nov20 … so approx 10 days time

Mary | Satoshi Club: Near:grinning: almost here:+1:Who will be able to get them?

Crazyfrog: That’s where SERGS utility come into place. For NFT farming we will have 3 pools called YOU, JUST and WIN with different farming rate.
So the users can stake their SERGS to farm those. Once farmed, they gotta burn YOU, JUST and WIN in different combos to farm different type of NFTs. So basically,
Burn 1 YOU + 1 JUST = mints normal NFT
Burn 1 JUST + 1 WIN = mints rare NFT
Burnt 1 YOU + 1 JUST + 1 WIN = mints limited edition NFT.
This you, just and win tokens are non tradeable. It’s meant to be burnt in order to mint NFTs.
Users can then become the owner of those minted NFT and can choose to sell in NFT marketplace like rarible or opensea. Make sure they set a reasonable price to get it sold

Q2 from Telegram user @Thienzoro

SERGS generates 2 $ SSL and $ SERGS tokens but does $ SSL play a major role in transactions and fees? And $ SERGS just extra token on the out of the gate? So will investors mainly buy $ SSL or $ SERGS? Each has its own use. Can you tell more about the differences and benefits of each penny?

Crazyfrog: Okay, ppl have to understand the utility of both SSL and SERGS.
SSL is a governance token with multiplier utility for NFT farming.
SERGS will be the token used to stake and mint NFTs.
The fee distribution is equal to both holders and liquidity providers. Just the utility of the token is different.

You can refer to this diagram, more easy to understand the fee structure

In short, SERGS generate the protocol fees based on each trade. This fees will flow to fee treasury. And fee treasury will be used to distribute to both holders and liquidity providers

So if u own SSL, u can do voting or use it as a multiplier to boost the farming rate.
If u own SERGS, u can stake and mint NFTs. Then sell it in NFT marketplace.
End of the day, both holders and liquidity providers will have equal fee distribution. Just the utilisation of each token varies

Mary | Satoshi Club: So, they are both profitable 😀

Crazyfrog: Yes they revolve around the same ecosystem.
SERGS have to be successful for the entire ecosystem to be successful. Since they play the key role of generating protocol fees

Mary | Satoshi Club: Do we have any cryptoprojects with approximately same model?

Crazyfrog: Yes $MEME is one of them. But they are not 2-token model.
Usually ppl stake meme to get pineapple. Use that pineapple to mint NFTs. I’m not sure if they have protocol fees for holders and liquidity providers

But the NFT farming concept is pretty much the same

Mary | Satoshi Club: So, you are first) With this model)

Varun Ravi: There are plenty nft projects in space which are doing cool and innovative things.
However a lot of them are very generic and don’t really have much of a usecase or value. Our basic nfts will be similar to whatever is in the space however the rare and super rare ones will be insane.
What we are trying to achieve in the nft space will send shockwaves across the entire cryptoverse.
Especially the super rare nfts will be nothing like the nfts that are already available. At this point in time unless we close those deals it’s not wise to speak a lot about it and speculate.

Q3 from Telegram user @bitalik_vuterin

2.5% transaction fee is applied for every trade and it will go to the fee Treasury. The idea is great. May I know how much have you gathered in the treasury until now and how much are you gathering approximately every day?

Crazyfrog: The calculation can be done pretty easily. Just 2.5% times the daily trading volume.
In the first 4 days, it accumulated a total of 110K SERGS. We burnt 60K to maintain the 50k threshold in fee treasury.

So everytime it exceeds 50K in the fee treasury, it will be burnt

Varun Ravi: The remaining 50k is given out to as
30 % ssl liquidity providers
30 % sergs liquidity providers
20 % ssl holders
20%! Sergs holders.
The fees are rewarded in cycles

Mary | Satoshi Club: The numbers are tied to the number of SERGS, not their value, right?

Crazyfrog: Yes correct

Q4 from Telegram user @Splendicity

Your threshold for the FEE TREASURY is 50k usd. What happens when these conditions are met,do you plan reducing the 2.5 fee?

Crazyfrog: 50K SERGS. Not 50K USD.
When the total supply of sergs keep reducing, sooner or later, meeting 50K sergs in fee treasury with 2.5% tx fee will become harder.
In fact to speed up the burn process, active trades is important and fee treasury will accumulate it.

Since our cap is to meet 110K total supply, meeting 50K sergs in fee treasury will become harder. Value of sergs should go up if there are holders and active traders

Mary | Satoshi Club: Ok, where SSL and SERGS are listed now?

Crazyfrog: As of now, only uniswap

Mary | Satoshi Club: Do you plan more listings?

Crazyfrog: Let me be very honest guys. How many of the ppl are actually using different CEX other than binance,cb, huobi or kucoin.
If we have to go ahead with further listing, only this 4 CEX have to be targeted. If we can close a deal with them, ofc will be happy to list it there. 50K sergs is reserved for that and it’s currently locked in trustswap.
Other exchange listing are just 1 day news. Reality is, nobody trades there.

Mary | Satoshi Club: MXC also popular, to be honest) but i understand what you are talking about) And 99% agree with you) Uniswap became everything in one thing)))

Crazyfrog: Our upcoming listing will be LINKSWAP. 25% liquidity will be added there with SERGS/LINK pair.

Mary | Satoshi Club: Do you have dates?

Crazyfrog: Linkswap should gain traction with their rug lock mechanism. Uniswap have became a mess after all the back to back scams. As soon as their DEX goes live

Mary | Satoshi Club: Oh yes, it’s back or black side of decentralisation) I mean scams

Crazyfrog: Yup! But still, uniswap is the leader of DEX and many ppl ald got used to it with instant swaps. With a massive volume

Mary | Satoshi Club: Yes, but everything can change in the future 😀

Q5 from Telegram user @NataliyaKil

What is the minimum amount of SSL and SERGS I have to keep in my wallet in order to receive a 20% reward? And why should the number of SSL and SERGS be the same, what is the reason?

Crazyfrog: It doesn’t matter how much u hold. U will get the fee based on ur holding percentage.
Example if u r a holder of sergs and u own 2% of the total supply, u will get 2% of the protocol fees. That’s how it’s calculated.
The number of ssl is 1100, as it was a popular meme of link. $1K link eoy. That’s why on early days it was kept such way.
So for sergs, we just followed the same trend with 1,100,000 total supply. But now 61K sergs have already been burnt and this will keep getting reduced till we hit 110K total supply.

I’m also quite superstitious. So I usually prefer announcing news at 11.00pm sgt too xD

Mary | Satoshi Club: For me it is quite simple and clear:grinning: This numbers are forever? Or you can change them one day?

D. | Satoshi Club: haha what a magic number 🙂

Mary | Satoshi Club: Ahaha:joy: so, now we know when we need to check announcements)

Crazyfrog: Yess ppl should be able to guess now when we give the date lol

Varun Ravi: And since sergs is deflationary for holding the same amount of sergs your percentage can only grow

Crazyfrog: Nope, there is no way we can increase the supply. There is no mint function. It can only be burnt and reduced. But never increased

Mary | Satoshi Club: And the most annoying question – what about audit?)))

D. | Satoshi Club: this is your favourite question 🙂

Mary | Satoshi Club: We need to find new words for term ‘audit’:joy:

Crazyfrog: This is a very important question indeed. Every investors need to care about audits since they are literally putting their money into a contract.
A small bug or exploit can wipe off millions of dollars.
Regarding audit, we are using synthetix staking contracts.
Our LP farming pools are synthetix contracts too. Which has already been audited.
We will also publish our codebase into GitHub and any devs interested can review it too.

D. | Satoshi Club: can you share a link on your github?

Crazyfrog: We have not yet shared the code into github. Ppl can still view it via etherscan.
Once our NFT farming pool contracts are done, I will publish the dApp codebase and also the contracts too

Sergs LP staking contract – https://etherscan.io/address/0x62f4976d0d90b42a40cc0150f26876dc6495b468
SSL LP staking contract – https://etherscan.io/address/0x16187419a4385ac77f1377246b970230d9336d96

U can click on contract tab and view the contract source code

Varun Ravi: Even in our last ama there were people from the community who volunteered to find bugs or exploits. @cra2yfrog has always been open to approaches from devs within the community too

Crazyfrog: We also did a SERGS contract breakdown explanation, so any layman can understand too.
https://sslcomms.medium.com/sergs-contract-breakdown-5ded56e8f2c3

Q6 from Telegram user @Brainchest

Help me understand. Getting YOU, JUST & WIN tokens depending on my stake. No\I can’t find information about the size of the stack, so I’ll ask for an example. I have enough in the stack to get a WIN token, but I want a YOU token or JUST token in order to create a Limited edition. Will I need to withdraw some of the coins from the stack so that there are fewer of them?

Crazyfrog: Ur farming rate depends on the number of ppl in the pool.
Example, let’s say a total of 10 poolers and a total of 1000 sergs been staked in YOU pool.
So if you have staked 100 sergs, ur pool share is actually 10% and u will be farming at that rate.
You can split ur sergs across all the 3 pools if you want to own all the 3 tokens. Depends what type of NFT u want to mint.
Usually the WIN pool will have a longer farming rate, with a minimum number of sergs need to be staked. We will soon release a medium article regarding this, so everyone get the info they need

Withdrawal of ur SERGS is flexible, u can withdraw anytime u want.

Mary | Satoshi Club: It’s so simple) i like this) Did you ever think to add pools with locks?

Crazyfrog: Yes we can consider that. I feel 2 days will be decent.

Mary | Satoshi Club: Btw, did you already used governance functions? I mean your community?

Crazyfrog: Not yet, governance portal is in the roadmap. For now only thing that is live is LP stake pools. Followed by NFT farming and then governance portal. There is a discouse forum too. Ppl can always post their suggestions out there and have discussion in that portal

Mary | Satoshi Club: In 10 days, right?

Crazyfrog: NFT farming, yes 10 days

Mary | Satoshi Club: Great! We will wait for the announcements!)

Part 2 — live questions from the Telegram community

Q1 from Telegram user @KevSalom

– Since your project started as a simple hobby or pastime I guess at first you didn’t take much into account the issue of security or anything like that right? Later when it started to be a serious project did you have to make many adjustments or was it enough with an authorship to see if everything was in order?

Crazyfrog: Yes, at first it was just a token.
security have to be focused on dApp contracts where ppl pool their money in. Which is why we chose to use synthetix staking contract. Until 2 days back it was just a website.
Synthetix staking contracts are already audited and we have done necessary testing on testnet before we rolled out.
We are also planning to allocate some sergs for bounty program so that any devs can review it too, via our github.

Q2 from Telegram user @DiegoRME

Lately the ETHEREUM network, the famous erc20, is having many problems with gas congestion, causing users to decide to choose the networks with less gas congestion such as BEP-20, TRC-20, BEP2 etc … Which led them to choose the one ETHEREUM ERC-20 network? What benefits can the ETHEREUM ERC-20 network offer you? Is the cell having congested gas that other of these previously mentioned networks cannot offer?

Varun Ravi: Sergs was initially launched on zilliqa. We are actively waiting for the zil eth bridge which would allow us to be parts of both the ecosystem.
Scalability is definitely an issue in eth so there is always the option of using layer 2 solutions such as matic.
The priority right now is to get the nfts going.

Q3 from Telegram user @jpsarmah

SSL launch had stopped the downtrend for LINK and it started the recovery path. Will SERGS do something like that and why is SERGS necessary and in most dual token structure, one token suffers a lot in price while other booms, what will the fate of SSL and SERGS?

Crazyfrog: Tbh, I wouldn’t even have gone for 2-token model. SSL was airdropped, there was no presale. Liquidity was bad due to that and the supply is too less to carry on with NFT staking.
Which is why we had to come up with 2-token model ecosystem. Sergs had presale, sufficient liquidity was added and tokenomcis of sergs was well planned.
We can’t carry on with ssl as it do not have any transaction fee function. That’s why ssl will act as governance token + multiplier for farming.

Q4 from Telegram user @btcltcrich

I still don’t understand you are following the community’s request to move the blockchain, from ZRC to ERC. What is the reason for this transfer? whether the ZRC blockchain is not good enough, so decided to move to ERC.

Crazyfrog: I’m a huge fan of Zilliqa. Reason why I first deployed SERGS on zil chain is because the gas cost is way too cheap. You can make 10 swaps with a dollar spent.
We also conducted socialpay to bring in user adoption. Where ppl can tweet about sergs, and claim their rewards via the dApp. We had 5000 wallets over 24hrs. But I was disappointed with the result. Bcoz those who participated took all the effort to create zilpay wallet, explore zilswap, transfer zil for gas… but none of them spent 2 mins to understand the utility. All sold the 10 sergs for a penny and left.
It was a struggle for us bring in user adoption. I explained this concern to Zilliqa team and they understood too. They were supportive to me regarding the migration and that’s why we moved back to eth chain.
Until zil-eth bridge is live, everyone will be on eth chain. Once interoperability bridge is live, users can always move between both chain to do the swaps. If they prefer to.

Q5 from Telegram user Ross

Whenever an individual makes a trade, 2.5% of the fee will be flowing into the fee treasury address. Why exactly 2.5? Is thst the total fee or is it more for network maintenance?

Crazyfrog: Let’s say an individual makes a trade worth of $100 to buy/sell sergs… 2.5% of it will be flowing to fee treasury. This will be the protocol fees for both holders and liquidity providers.

Q6 from Telegram user @konditer_rolex

It seems to me that you are too modest. Your website on the betting page lacks the most important button – BUY. Of course, I assumed that you can buy on Uniswap, I looked on the site for the address of the contract. But to my deep disappointment, I did not find you on Uniswap. a logical question where can I buy your tokens? Can I get your tokens for free to try how the pool works?

Varun Ravi: We are already on this and the website should have links to uniswap for both ssl and sergs.
You can find them here
Ssl
https://app.uniswap.org/#/swap?inputCurrency=0x0d9227f9c4ab3972f994fccc6eeba3213c0305c4&outputCurrency=ETH
Sergs
https://app.uniswap.org/#/swap?inputCurrency=0x79ba92dda26fce15e1e9af47d5cfdfd2a093e000&outputCurrency=ETH

Q7 from Telegram user @NataliyaKil

Many projects have their own NFT cards. What do you have? Can I see it somewhere? And do you conduct promotions and drops with NFT for your users?

Crazyfrog: Our artworks are going on and it will be crypto all stars. like vitalik, Andre, sergey,cz, etc.
Users can stake their sergs to mint those NFTs and claim their ownership for it. So they could sell those in NFT marketplace like opensea or rarible

Varun Ravi: But this would just be our basic nfts. We have super cool things planned for the rare and super rare ones

Q8 from Telegram user @Medtechh

Trust and Security are vital fundamental in crypto space today, so how Secure are you to avoid hacking and ddos attacks? And also Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’ eyes. Can you tell me what you have done and plan to do to achieve Adoption in the reality, real use cases, our real society.?

Crazyfrog: Many assumes NFT is just digital collectibles and artworks. That is just one example of NFT. Potential of NFT is huge, literally any real world assets can be NFTed into blockchain.
Example, if there is a shop owner issuing discounts for his merchants… he can NFT that, ppl can farm those and claim those items with token of discount. It will be a one to one trade.
If I want to sell my car, I can NFT that into a contract and the buyer will be transferred with the ownership. There will be no middlemen, and everything done via chain.
Regarding security, earlier one folk DDOS’ed our website and he was demanding for 1 ETH. We mitigated within 15 mins. It’s all about using reverse proxy and DNS that can protect ur frontend form ddos attacks.

And also for Super rare ones, we are looking forward to bring that to NFT space. If we can close the deal successfully, we will be the first one to come up with that. Hope that falls in place

Q9 from Telegram user @Boylut

I saw it somewhere that even without staking, holders will still earn rewards for holding, how true is this?

Crazyfrog: Yes, but they will be rewarded once in 4 weeks. Weekly snapshots will be taken to Ensure the actual holders benefit. Their reward percent will be lesser compared to liquidity providers.
So holders can strategise themself. They can choose to half, use remaining half to farm and mint NFTs. Their sergs are always reusable to farm and mint NFTs.

Q10 from Telegram user @Arisabela

SERGS offers 3 combos of pools to mint each. Can you explain the differences between a Normal, Rare and Limited edition of NFTs? What can users do with a limited edition and not with a normal one?

Crazyfrog: Normal NFTs usually have huge number of supply. Rare is comparatively lesser and limited edition will be few handful of numbers.
So the artwork will be categorised based on the demand for it. If you own the limited edition, u are one of the few having ownership to it and if anybody interested to buy those, the fee will be going to u.

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of SERGS. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1000 SERGS.

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:

SERGS Community: https://t.me/sergssale

Hello, Satoshi clubbers and guests of this site. Glade introduces to you CyberFi crypto DeFi project. CyberFi mission is to create a user-friendly DeFi experience and add a new layer of features available. Users of our platform will experience zero-stress, automated DeFi trading, and farming, smaller fees, and tools for Impermanent Loss mitigation.

 The AMA session was divided into 3 parts with a total crypto reward pool is 500$.

Leading the AMA our clever and fun admins: @madamlobster and @Cool_as_Ice

The Representative of the project: @cyberfitech Geralt – CyberFi CEO

PART 1. INTRODUCTION of CyberFi PROJECT AND COMMUNITY QUESTIONS.

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

D| Satoshi Club: Hello Satoshi club!

Geralt – CyberFi CEO: Hi!

Mary | Satoshi Club: Hello, welcome to Satoshi Club 😀

How are you today?)

D| Satoshi Club: @cyberfitech hello!

Geralt – CyberFi CEO: Great, how are you guys doing?

D| Satoshi Club: Wonderful!

Mary | Satoshi Club: We are as well, I think😀

Please, tell us about yourself and give us an intro about CyberFi 😀

Geralt – CyberFi CEO: Sure

Hi everyone, I’ve been in crypto for over 4 years now. Before that have been developing my own projects and startups.

I have been a builder of DeFi since 2018, I and my team have had experience with developing oracles, cross-chain applications, exchanges and many POCs. we’ve come to CyberFi with lots of experience in developing blockchain applications and a great understanding of the problem we are trying to solve and the solution.

We have created a team that is more than capable of creating Great Tech. And we have shown that by finishing our Alpha version of the product before going public with the project.

A short intro of CyberFi

With CyberFi, you don’t need to watch Uniswap 24/7 anymore, automate your actions in DeFi with CyberFi, the first-ever product to automate Yield Farming exit based on price changes.

Mary | Satoshi Club: Great intro, btw, can you tell us at least one name of the projects you were developing?

Geralt – CyberFi CEO: Good question, we’ll keep that anonymous for now, as I have corporate obligations, but you can check out our website and see the experience of our public CMO.

Mary | Satoshi Club: Yes, I saw his Linkedin.

D| Satoshi Club: Sadly, LinkedIn doesn’t work for me 😁I tried many times

Mary | Satoshi Club: So, you want to tell us with CyberFi we won’t need Uniswap any more?

Geralt – CyberFi CEO: Nope, you will need Uniswap and you will need Metamask, but CyberFi brings the possibility to automate your strategies instead of doing everything manually and checking Uniswap 24/7

Mary | Satoshi Club: Oh, got it. I think we can talk more about different features of CyberFi while you will answer the questions from our users) Ready for them?)

Geralt – CyberFi CEO: Sure

D| Satoshi Club: Sounds cool! it will solve lots of inconveniences. Let’s start the first part of our AMA!

Q1 from Telegram user @getrichie

You have sold 450 000 CFi in the Alpha round. Congrats. But can you tell me if you’ve got investments from any strategic partners or groups? big investment firms? Those investments are useful because they will help you with their resources to grow

Geralt – CyberFi CEO:

Q1 a little bit wrong as Alpha Round was 350 000 CFi. We have received a contribution from a fund, that will help us strategically. We will announce this later today and we are looking to get more recognition from funds that can support us in the long run

Mary | Satoshi Club:

You told me that you received enough contributions for this round for two hours?)

D| Satoshi Club:

Why later, why not now? it’s a great place for announcements😁

Geralt – CyberFi CEO:

Correct, with the support of our Advisor Jeff https://twitter.com/JeffKirdeikis we’ve been getting a lot of demand

Medium article in the making 😀

D| Satoshi Club: Ohh got it😉

Geralt – CyberFi CEO:

It’s a small fund, nothing crazy, but they are helping us A LOT with everything.

Mary | Satoshi Club:

As I understand USA citizens were restricted from Alpha Round participation, will you let them join next?

Geralt – CyberFi CEO: Nope. Sorry.

Mary | Satoshi Club:

Thanks, can we move forward to the next question?

Geralt – CyberFi CEO: Yes just send:)

D| Satoshi Club: Thanks for your answer! Q2 next!

Q2 from Telegram user @Rebel99

My favorite feature on your platform is the ability to set limit orders on Decentralized exchanges like Uniswap, I’m curious about how this would work considering that there is no order book on Uniswap and there may be huge slippage causing transactions to fail? Did you know that 1inch will have soon limit orders as well? @Rebel99

Geralt – CyberFi CEO: Good questions, although limit orders are easy to understand this is not the premier focus of our platform, we specialize in complex events automation.

Limit orders can be done in a number of ways, we have them stored off the blockchain before a price trigger tell us that the price has reached the target and the TX will then be sent online

D| Satoshi Club: Can you explain to us? how limit orders will be work?

Geralt – CyberFi CEO:

Others do it fully online, but I personally see that as a huge front-run opportunity

We are planning to set up more complex orders than just limit orders in the future, orders that would separate the Tx into smaller pieces and liquidate through a longer period of time causing a smaller slippage👍 lets go to the next Q

D| Satoshi Club: Got it! let’s proceed to the next one!

Q3 from Telegram user @konditer_rolex

You have a very complex token economy. To understand all this, you need a calculator and a great desire to find an error in your calculations. But today I want to gain confidence in the project and my question will be about this. Tell me, what is the economy of the CFI token based on? There are a lot of token distribution points with a detailed description of how many to whom and how it will be unlocked. Have you used the experience of other projects? Have you taken into account the mistakes of other projects? Do your team members have had any bad experience of participating in other projects in the past? Perhaps you learned from your own mistakes

Geralt – CyberFi CEO: I like the comment about the calculator

It does sound complex, but it is focused on one thing only – a slow period of the supply increase. The lock periods are there to provide a steady increase in supply and retain a healthy market.

Mary | Satoshi Club: Yes😀

Geralt – CyberFi CEO:

Obv we are looking at exp of other DeFi projects as examples and having a strong community and long-terms holders must help us with our economics

Mary | Satoshi Club:

How you plan to encourage your users to hold CFI?

Geralt – CyberFi CEO:

We are going to have staking features for holders

Mary | Satoshi Club: Thank you 😊 Next question?)

Geralt – CyberFi CEO:

We are planning a few interesting events in the near future for holders. Yes next Q

D| Satoshi Club: But it’s secret for now?

Geralt – CyberFi CEO:

Yes, we will involve NFTs but in a way, no one has used it before

D| Satoshi Club: Interesting, interesting!

Mary | Satoshi Club:

Yes) your testers will get NFTs, right?) We like NFT here)

Geralt – CyberFi CEO: Testers will have a separate distribution. I’m a big fan as well.

We are going to have a couple of automation strategies for NFTs also in the Future

Mary | Satoshi Club: It’s intriguing)

D| Satoshi Club: Lots of events in the future! cool! thanks for sharing!

Mary | Satoshi Club:

Ok, we will wait for the announcement 👍 , and now can we go forward to the next question?)

Geralt – CyberFi CEO: Yes, next!

D| Satoshi Club:

Q4 from Telegram user @brainchest

For an investor, several things are important. The truth of the project and success. How can I trust just the text on the web-site without proof that the project is being worked on? Projects usually upload code to Github, even if not all files are open for viewing. Information vacuum. There is no information about tokenomics. What is the yield for stacking and farming? There is no description of how future products will work. And it’s hard to see a website made with errors (in sections with horizontal scrolling, the text is cut off) by a team that has a programmer with 15 years of experience.

Please dispel the doubts that many users-investors may have.

Geralt – CyberFi CEO: Well, we do have the Alpha version and the alpha testers program.

CyberFi Announces Launch of “Alpha Testers Event”

CyberFi Alpha is ready and has gone through internal testing so it’s time to go further – starting today we are launching the application form to onboard the first 50 testers of our platform.

Small recap – CyberFi is an Intelligent DeFi Automation Platform. In our alpha, we have Automated LP token management, liquidity mining, and yield farming exit strategies essential to DeFi users.

We have capped this event at 50 users because we want to start with a close community of believers and active participants. Additionally, we have prepared many bonuses for Testers that you can check out in the form.

CyberFi invites all active DeFi users to participate, the CyberFi Team will choose the best applications and will start to send out invites in the next few days.

https://forms.gle/nxGm2n7DsFreG4DL6

That’s number 1 answer

The second point is our Advisor did a video presentation of it in the last video, so we are focused on that 100%

D| Satoshi Club: Can you share a link?

Geralt – CyberFi CEO:

3 point. I think the website is really great, we’ve spent a LOT of time working on it. Some problems might be because of animations but we are working on having it so that all screens have the same visual

https://twitter.com/JeffKirdeikis/status/1324559881618120704

Mary | Satoshi Club:

But it’s not so easy to become a tester, right?) You require active previous interaction with yield farming protocols?)

D| Satoshi Club: Yeah, I very like the design! cyberpunk style

Mary | Satoshi Club:

How many users you already find and how many seats left?

Geralt – CyberFi CEO:

Correct, as we want active participants 🙂 But Beta Testers applications will be easier to get into

We are hunting for quality requests so a number of seats are still available

Mary | Satoshi Club:

Thanks, sure you will choose the best of them 👍

Geralt – CyberFi CEO:

last point, we are not another farming project. We are a unique platform offering real change in the DeFi space. 👍

We can go to the next Q, I think

D| Satoshi Club: Thank you for answer! let’s goo to the next one!

Q5 from Telegram user @PaoloMonte87

The Alpha testing of the CyberFi platform has launched and registration is now open. What are the requirements and obligations to be part of the CyberFi Alpha testers group? What kind of benefits and bonuses will these lucky users receive for their feedbacks, efforts and contributions?

Mary | Satoshi Club: I think it’s partially covered)

But benefits and bonuses are the sweetest part😊

Geralt – CyberFi CEO:

All Qualified Testers will benefit from:

1. Access to the CyberFi Alpha
2. Access to the CyberFi Testers group
3. CyberFi Alpha testing feedback contributors will receive a Special, limited supply NFT tokens. Additionally,

 they will gain priority access to new CyberFi products.

4. Additional benefits for active testers.
5. Take part in the First Closed Transaction Mining Event of CyberFi.

Secret Bonus – 10 Active Alpha Testers will receive CyberPunk 2077 for free.

This is from the Form. It’s really more about creating a private community that will stay with us👍 Don’t know what else to add with this Q

D| Satoshi Club: And there are any requirements to participate?

Geralt – CyberFi CEO: Yes, but it’s not harsh

To qualify for AlphaTesting you have to:

1. Be an active user of yield farming protocols and other DeFi products
2. Submit an active ETH address to prove interaction with yield farming projects
3. Commit to providing feedback

Mary | Satoshi Club: How long do you plan this event to continue?

D| Satoshi Club: Nice!

Geralt – CyberFi CEO: Another week or so

Mary | Satoshi Club: Got it😀 And the last question from this part?😃

Geralt – CyberFi CEO: Yes, please.

D| Satoshi Club:

Q6 from Telegram user @Xusuo

I want to ask regarding your investment program. If I invest for Cyberfi in Alpha Round, it will be locked for 2 months? Besides 20% which is unlocked in the 1st week, then it will continue to unlock 10% every week?

Geralt – CyberFi CEO: Correct. Simple as that. let’s go.

Mary | Satoshi Club: Live questions?😀 Let’s go 🚀

PART 2.QUESTIONS for a CyberFi DeFi PROJECT from TELEGRAM COMMUNITY LIVE

In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts have earned cryptocurrency.

Q – 1 from a telegram user  @Fighter060

At the moment, where you are focusing right now? building and developing a product or getting customers and users, or partnerships? Could you share it?

Geralt – CyberFi CEO:

We are focused on building as fast as possible. There is one strategy available in alpha, we are working on having 4 in the Beta now. Every one of these strategies will be configurable.

Q – 2 from a telegram user @seen123

With the high volatile assets, does CyberFi have any solutions to minimize risks for traders?

Geralt – CyberFi CEO: 

Basically, all of our products are focused on creating risk-mitigation options for DeFI users.

Q – 3 from a telegram user @Splendicity

Will all limit orders be visible to everyone, the same as in CEX?

Geralt – CyberFi CEO:

Nope, they will be kept on the back-end, this is done against front runners.

Q – 4 from a telegram user @Splendicity

Are there mutual benefits between CYBERFI & UNISWAP?

Geralt – CyberFi CEO: 

Def, we are like an App on top of Uniswap, where our platform provides a much more advanced approach to DeFi opportunities.

Q – 5 from a telegram user @Pratze

I found there is 2 similar project name on your website, one is “Cyberfi” and the other is “Cyber Round”, what is the difference between two of them? Can you please explain this to us?

Geralt – CyberFi CEO: 

Cyber Round is just the name of the 2nd Round of the Tokens Sale.

Q – 6 from a telegram user @satoshingmxcom

Liquidity is the most important aspect that makes or breaks the value of an exchange. How can CyberFi solve this liquidity problem? So that users do not lose a lot of money due to non-permanent losses.

Geralt – CyberFi CEO:

We solve it through triggers that are used to launch automated strategies. The problem with DeFi right now – that it’s all manual, that just leaves the user with a lot of risks. Our platform is focused on risk mitigation.

Q – 7 from a telegram user @warny

I want to apply for the CyberFi Alpha Testers Event, has the limit of the first 50 testers been met yet or I can still join?

Geralt – CyberFi CEO:

Still possible to join.

Q – 8 from a telegram user  @Termuxnih

So, can you honestly tell us the drawbacks of your project?

Geralt – CyberFi CEO:

We have a number of limitations right now due to the non-custodial nature of our Platform, but we are working on a v2 of the project that will make it even easier to use and more versatile.

Q – 9 from a telegram user @Xusuo

Cyberfi will be listing on Uniswap on 13th November 2020. Could you please tell me about the listing price for Uniswap?

Geralt – CyberFi CEO:

0.6$

Q – 10 from a telegram user @nzikak

Your medium post says that traders will be able to automate their farming strategies. Would this be by using some programming language or what?

Geralt – CyberFi CEO:

Our platform provides a UI akin to visual programming allowing users to create highly customizable automated events.

Part 3 – Quiz about DeFi project CyberFi

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. Participants had 10 minutes to answer. 300$ in cryptocurrency 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: CyberFi — Intelligent DeFi Automation Platform.

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