Satoshi Club

We are pleased to announce our next AMA on October 4th 2020 at 03:00 PM UTC Time: Satoshi Club x Celsius Network

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

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

We will have the following structure:

Part 1: 200$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 200$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Celsius Network Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about Celsius Network

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

Amarathon continues and Satoshi Club brings you food for your mind every day. Just come and take it. Today we would like to tell you about the AMA session with our friends from Gather Network. The AMA took place on October 02 and our guest was Raghav Reggie Jerath, Founder&CEO of Gather Network.

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

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

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

Mary | Satoshi Club: Hello, Satoshi Club :grinning: We are happy to announce that today we have Gather Network as our guest :smiley: @RJerath welcome to Satoshi Club!!:+1:

D. | Satoshi Club: hello @RJerath and welcome to Satoshi club! )

Serg | Satoshi Club: Hello! Welcome to Satoshi Club!

Reggie – Gather Founder: Hey @Cool_as_Ice thanks for the warm welcome, and thank you for hosting Gather! Looking forward to a great AMA

Mary | Satoshi Club: Hello, Reggie) how are you today?)

Reggie – Gather Founder: Hey Mary, I’m doing good , how about yourself?

Mary | Satoshi Club: Great, thanks))) Could you please introduce yourself and Gather network? How did you start with Gather project?)

Reggie – Gather Founder: Started my career in Oil and Gas managing a couple bases in and out of Iraq managing about 200 or so people, was there for about two years or so, ISIS invaded around the end of the two years. Post evacuating the staff. I decided I wanted to shift industries. – I ended up working in advertising for a bit – with different agencies – the first being MSLgroup ( Where I met our Marketing Advisor Naren ). Post this I had my first exposure to entrepreneurship. It was a startup similar to what Deliveroo is – provides the technology and riders, making deliveries for banks, supermarkets etc. Post this – I was hired as a consultant to help a website – to help them figure out how to monetize. – That is where everything started.

And for Gather – here if a brief description, and a picture as well:
Gather is a platform that allows publishers to monetize without ads, provides businesses & developers to access cheap and reliable processing power.
Gather Online (Layer 0) allows web & mobile developers to monetize from their users processing power.
Gather Network (Layer1) is the protocol layer, a hybrid proof of work and proof of stake blockchain, where stakeholders are incentivized to maintain transparency and security.

Gather Cloud (Layer 2) provides affordable processing power to enterprises and developers.
Gather Enterprise provides consultancy services and tooling for developers, businesses and crypto networks.

Mary | Satoshi Club: Interesting biography :+1: from Oil to Gather)

Reggie – Gather Founder: Hahah, yeap and a few other industries along the way

Mary | Satoshi Club: Nowadays you have to have the flexibility to retrain quickly)

Reggie – Gather Founder: Indeed, I believe the ability to adapt and be flexible is a key part of achieving success

D. | Satoshi Club: so how long Gather Network in development? if im not mistaken, this is not a project from yesterday )

Reggie – Gather Founder: Roughly we have been around for almost three years, had a very small seed around in 2018 and then the bear market hit hah But this thread explains our history well: https://twitter.com/chatwithcharles/status/1311042919311253505

Mary | Satoshi Club: Yes, but surprisingly i never heard about this project before:smiley:

Reggie – Gather Founder: We have only started focusing on marketing now, – we were focused on building the product and fundraising back in 2018/2019

Mary | Satoshi Club: For me it is a certain indicator of quality) to survive the bear market and not give up)

Reggie – Gather Founder: Hah thanks – all of us here at Gather are here for the long haul 🙂

D. | Satoshi Club: yeah, you have tons of articles on medium, but i was surprised that you have launched your project not so long ago

Reggie – Gather Founder: Sorry? We have been around since the start of 2018?

D. | Satoshi Club: i mean trading on exchanges. )

Q1 from bitcointalk user vicpocho @vicpocho on Telegram

The Gather Network project has caught my attention. As a content creator, I want to make sure that I compete in a fairer environment with other creators. Can you give us the confidence that the system is free from manipulation of visits generated by bots? How do moderators already have a way to detect those who do not play fair?

Reggie – Gather Founder: This is a good question, since click bots have always been an issue in the ad industry.

Mary | Satoshi Club: They are everywhere 🤦

D. | Satoshi Club: beep boop

Reggie – Gather Founder: Gather would have mitigation strategies in place to detect and warn/suspend/ban publishers that partake in un fair practises. – We have a few people from the ad industry on the team, so are well versed with such issues. With that being said, if a publisher goes and pays for click bots here – it would be a net 0 gain for them. Gather pays for time spent, not clicks or cpm and we are based on processing power

D. | Satoshi Club: did you know, im a bot as well?

Mary | Satoshi Club: I had suspicions:joy: Let’s see, how @RJerath will fight with you:joy:

Reggie – Gather Founder: You fooled me!

D. | Satoshi Club: so there is no point to use bots to make profit from Gather Network?

Reggie – Gather Founder: No net incentive – unless the cost of the bots are very very cheap. Since they are required to stay on site – and have the processing power used. Most click bots – come to the site, scroll and then leave – some of them are easy to spot

Mary | Satoshi Club: Great) see, @Cool_as_Ice ) Gather is not your place:joy: Or we will re-educate you:joy: Ok, next question?)

Reggie – Gather Founder: Hah for sure lets do it

Q2 from bitcointalk user gustafsson @jmalton on Telegram

Hello. I would like to talk about your mechanism. It will be a hybrid which will include pow and pos. If you can apply pos already, why use pow as well? isn’t it outdated? we need to conserve the energy of our planet

Reggie – Gather Founder: So there are multiple parts to this question: 1) one of the reasons Gather Network will have its own mainnet is to maintain a sustainable Proof of Work consensus, which will be only used by publishers (website and application owners) and will not be open to any external mining options. To make the web/app mining viable, low processing power is required, and this will be maintained as observed earlier in our prototype testing process. 2) We use the spare and idle compute power – so this not a giant ASIC farm, the idea here it tap into untapped resources

Mary | Satoshi Club: It’s something like Decred, yes? Pos/pow

Reggie – Gather Founder: I am not to familiar with Decred, but if it has a hybrid model, then somewhat similar yes

Mary | Satoshi Club: Yes, it has a hybrid model)

D. | Satoshi Club: i think Gather the first project with hybrid that im aware of

Reggie – Gather Founder: I believe there have been quite a few others in the past, one the main differences for us is that our master nodes will also be the back bone of Gather Cloud ( The cloud computing product )

Mary | Satoshi Club: So, what about mainnet?) Is it near or i missed something?)

Reggie – Gather Founder: So we have an MVP for a while, with a bunch of technical milestones – Merged mining for example, – for major dates we have the TN v.01 shortly – this is just the process of mining $GTH via the browser and then merged mining take place between the parent chain and child chain. Full test net is aimed for 3 months roughly from now and then a main net 6 months from now

Q3 from Telegram user @iulya_i

Please explain Gather Online. Also, what are the skills required to run it? Do I need to know how to code?

Reggie – Gather Founder: Not at all Gather online is a brand that has been created to target and acquire websites and applications, Similar to how we have Gather Cloud and Gather Enterprise. As for actual integration purposes – in its current form, once you are whitelisted for the early adopters program, – you will login and from there a small script will be generated for you, you just have to put that on the back end of your website. We also have a video that walks you through step by step of how to do it – specifically for word press based sites. In the future we will come out with plugins, – For Apps we will be releasing a SDK.

Mary | Satoshi Club: And how it will work in simple words? If i will put this script on my site)?

Reggie – Gather Founder: So no, the average you do not need to be a developer to use Gather hah, but some basic technical knowledge will always help – or just follow the instructional video. Once its on your site your users would see this:

Mary | Satoshi Club: Don’t think, that all users will read this) I mean, my site users)

D. | Satoshi Club: see guys, now you have a video tutorial

Reggie – Gather Founder: This was for the MVP – so it includes things that are no longer there – the disclaimer has changed etc – to new branding

Mary | Satoshi Club: But, basically, my site will mine crypto from its visitors, yes?

Reggie – Gather Founder: Mine $GTH which will be merged mined with other Child chains on the Gather network. In essence yes. There may be portions of processing power also used for cloud computing purposes – but this would be very limited, majority of the storage and processing power would come from master nodes

Mary | Satoshi Club: Nice structure, one thing i need now – my own site and visitors) Thank you for answer:wink:

Reggie – Gather Founder: Hah, that is not something we can help with at this time! However if you want to deploy a child chain on Gather – then we can hah

Mary | Satoshi Club: Yes, got it. So, not 50/50 pos/pow? Main processing power from pos, yes?

Reggie – Gather Founder: I need to double check the exact figures, but If I recall correctly its more like 70% PoW / 22.5% Master node / 7.5% PoS. So processing power from MN’s + POW mostly – but POW is for websites/apps – MN’s for cloud computing.

Q4 from Telegram Username @justgata

Something that caught my attention about your project is the ad-free environment that they promise to users, we currently know that ads are part of earnings for many content creators. How would creators generate revenue from the platform? Where would the backing of those earnings be without monetizing ads?

Reggie – Gather Founder: Well – once integrated with Gather – the publishers end user would be shown a disclaimer ( the one I attached above ) once opt’ed in their processing power would be used for various purposes. IE Mine $GTH and other child chains, and cloud computing. The idea here is instead of bashing your users with ads and steal their data or invade their privacy you ask them to share a very small portion of their computing power. I should also mention via the loyalty program – this is a feature that allows you to share earnings with your users in the from cryptocurrency.

Mary | Satoshi Club: Will you give your users a choice between ads or sharing their computing power?

Reggie – Gather Founder: That is on the website, they can do that

D. | Satoshi Club: creators can get revenue only in $GTH tokens?

Reggie – Gather Founder: The payout can be in GTH, BTC, FRM, DEC, DIA and fiat

Mary | Satoshi Club: Even fiat? Which currencies?)

Reggie – Gather Founder: Currently we support all SEPA based transfers – however we are in talks with a bank to support SWIFT – so any currency or bank that uses SWIFT would be supported

Mary | Satoshi Club: Great) So, a lot of choices for your users)

Reggie – Gather Founder: Indeed! Just trying to be as user friendly as we can 🙂

Q5 from Telegram Username @MaxiVV

What are the main differences between Sapphire, Onyx, Ruby and Emerald Programs? and how could community contribute them?

Reggie – Gather Founder: 1. Sapphire – Gather Network Community Outreach: Engage and help build awareness about Gather Network for the cryptocurrency community, help create content that will expand, engage and retain the overall community.
2. Onyx – Gather Online Publisher Outreach: Spread awareness about Gather Online as an alternate form of monetization for websites and applications, proactively reach out to the relevant stakeholders and educate them about the benefits about using Gather Online.
3. Ruby – Gather Cloud Blockchain Developer Outreach: Spread awareness about Gather Cloud blockchain security solutions to both existing and potential new blockchains, proactively reach out to the relevant stakeholders and educate them about the benefits about using Gather Cloud.
4. Emerald – Gather Cloud Enterprise Outreach: Spread awareness about Gather Cloud to potential new enterprises, proactively reach out to the relevant stakeholders and educate them about the benefits about using Gather Cloud. We got our first ambassador on board yesterday, read more here: https://bit.ly/Gather_Krillin

Mary | Satoshi Club: So, if i only publish i will be Sapphire?)

D. | Satoshi Club: we have a lot of potential ambassadors here 😉 in Satoshi club

Reggie – Gather Founder: Depends case to case – Ideally A sapphire ambassador needs to have knowledges of both the ad world and tech world, and be active in the community

Mary | Satoshi Club: Thanks) i think @Cool_as_Ice is right, our members have a great potential to be your ambassadors)

Q6 from Telegram Username @cengizhantekin

Let’s say we started to use Gather system on a website. How does the site owner make revenue, when the site visitors do what?

D. | Satoshi Club: i guess question was partially covered, already)

Reggie – Gather Founder: The end user just needs to provide consent, and then a small portion of processing power is used

Mary | Satoshi Club: How much can site owner earn? did you make approximate calculations?

Reggie – Gather Founder: Rough calculations on average is 1.4x more ads right now ( CPC .3, CPM 1, Page views 1 )

Part 2 — live questions from the Telegram community

Q1 from Telegram user @adityaaryah

When would Web staking be Live for $GTH using Ferrum Network infrastructure?

Reggie – Gather Founder: This should be live in the next week, the details of the staking APY etc will be out shortly, we are currently listed on the Unifyre wallet as well

Q2 from Telegram user @K2ice

What are the purposes and features of $GTH?

Reggie – Gather Founder: The GTH token is used for:
– rewarding suppliers, in Gather’s case publishers and application owners;
– for the loyalty program, where publishers and application owners reward the website visitors and application users
– for network interaction and smart contract fees
– for passive income via staking and masternodes
– for enterprise/PoW network charges

Q3 from Telegram user @RoZerius

Can you give GTH tokenomic such like burning and buyback?

Reggie – Gather Founder: Check out the token economy here: https://gather.network/docs/Gather_Token_Economy.pdf

Q4 from Telegram user @nyo_cant

Gather Cloud provides processing power to organizations, developers, etc., but where does that processing power come from? Is it collected exclusively through Gather Online? Or are there additional sources of processing power?

Reggie – Gather Founder: This is mainly from the master nodes and a slight amount will come from websites and applications

Q5 from Telegram user @Yiselen

It will be a bit ugly and cumbersome that you pirated my information, what security methods implement Gather for information security?

Reggie – Gather Founder: Gather does not hold users’ data, it only uses a very minimal part of their processing power based on their explicit consent. As a matter of fact, this is one of the main reasons why we are developing Gather; privacy is not respected in today’s digital advertising context. Websites have been adding more ads and selling your data. Ad-tracking is against consumers’ privacy rights. With Gather, we will provide a transparent and powerful alternate monetization method for online businesses while all respecting users data.

Q6 from Telegram user @ramman4_1

Are there any plans to better connect the community? Like a social media type system where people can share ideas & suggestions about it? because we know the power of community to easily create famous projects?

Reggie – Gather Founder: This is an interesting, a separate social media built just for Gather once there is large amount of users, might be viable then, but right now using third party platforms is the best way, we are on Facebook, telegram, twitter and linkedin

Q7 from Telegram user @biegy

Does Gather Network use a smart contract to ensure transparency of payment for Publishers and Viewers and Is that the core difference between standard platforms like vimeo or Youtube?

Reggie – Gather Founder: Payments to publishers and viewers would be recorded on the blockchain, for transparency purposes

Q8 from Telegram user @Termuxnih

What about DeFI and Yield Farming, does Gather have a plan to make Defi and yield farming

Reggie – Gather Founder: Gather is not a DeFi project. In the means of DeFi, Gather already has passive income elements such as web wallet staking or masternodes. However, our product adds another dimension to the existing DeFi websites and applications, by adding an option to reward users for using these websites and applications. So, with Gather Online you can actually earn more tokens while using DeFi websites and applications so it’s a complete new approach.
I suggest everyone to have a read on these articles to understand how Gather can be the missing piece in the DeFi puzzle and how Gather can create competitive advantage for DeFi platforms:
1) https://thedailychain.com/gather-the-missing-link-of-defi/
2) https://bit.ly/Gather_Ferrum
3) https://bit.ly/Gather_Decentr

Q9 from Telegram user @Mohitku1

Yesterday you had announced Partnership with Dia. How Gather network will improve their user experience through less dependence on advertising.
And What benefits it brings to Gather network?

Reggie – Gather Founder: Gather will be using the DIA’s oracle infrastructure, for price feeds specifically, while $DIA was added as a payout currency in $GTH. There are other areas around oracles we will be working on, learn more here: https://blog.gather.network/partnership-with-dia/

Q10 from Telegram user @tv100029

What is Child Chain ?

Reggie – Gather Founder: New Child-chains can be forked off from genesis child chain (created by Gather) , and they use the processing power that is generated from websites and applications. Child Chains and parent chains are linked via merged mining. This allows PoW blockchain developers to deploy a chain without finding a mining community. It is well known that with high hashrate POW provides bulletproof security, but with low hashrate, this is not the case. When launching a new POW network, finding a miner community is always tough. Especially miners that incentivized for the long term growth of the POW network.

D. | Satoshi Club: @RJerath that’s it! thank you for your answers! :blush:

Mary | Satoshi Club: Thank you @RJerath for your time and answers! It was a pleasure for us to talk with you!:+1:

Reggie – Gather Founder: Thank you very much for hosting Gather here today and for the amazing questions.
For any further question, please follow Gather Network social accounts below and join them. We’d be happy to reply 🙂
Have a great day everyone!
Website: https://gather.network
Twitter: https://www.twitter.com/Gather_Network
Facebook: https://www.facebook.com/GthNetwork
Reddit: https://www.reddit.com/r/GatherNetwork/
Telegram
English: @GatherNetwork
Announcements: @Gatherannouncement
Russia: @GatherNetworkRussia
Indonesia: @GatherNetworkIndonesia
Turkey: @GatherNetworkTurkiye
Korea: @GatherNetworkKorea
India: @GatherNetworkIndia
Vietnam: @GatherNetworkVietnam
Japan: @GatherNetworkJapan

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Gather Network. They’ve prepared 4 questions for this part. The total reward pool for quiz was 500$.

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:

GatherNetwork: https://t.me/GatherNetwork

And here we have the last day of September 2020 and hope, you will remember it not only as autumn day, but also as a day, when you visit Satoshi Club and get new knowledge about new project. Today we would like to tell you about the AMA session with our friends from Falcon Swap. The AMA took place on September 30 and our guest was Eric, co-founder of Falconswap.

The total reward pool was 500$ and has been splitted in 3 parts.

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

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

Mary | Satoshi Club: Hello, Satoshi Club! Today our guest is FalconSwap:grinning: @eric_falconswap welcome to Satoshi Club:grinning:

Luis Merino | Satoshi Club: Hello Satoshi Club! Welcome to another AMA with us. Today we have FalconSwap. @eric_falconswap is our guest, welcome!

How are you today Eric? Ready for a great AMArathon? :))

Eric | FalconSwap: Hey guys, Thanks for having me over. I am all set for the AMA

D. | Satoshi Club: hello all! im on my way to home, will join you soon) Hello, Eric!

Mary | Satoshi Club: So, can you introduce yourself and tell us how did you start with FalconSwap?)

Eric | FalconSwap: I am Eric, co-founder of Falconswap
I am have been a blockchain developer for about 4 years and have worked on various trading platforms before coming up with the idea of Falconswap.
Decentralization is the way to go and the current infrastructure and approach have a lot of scope of improvement. This is why we are building Falconswap to improve the user experience and reduce the gas fees for trading.

Luis Merino | Satoshi Club: So you want to stop this huge fees from UniSwap? 🤭

Mary | Satoshi Club: Great background) Gas prises annoying now, we are really looking for those, who can save us

Eric | FalconSwap: The gas fees is a considerable part of trading these days and this is pushing out a majority of traders out of the ecosystem. Falconswap is working on solving this issue.

Q1 from bitcointalk user Jonahap

Falconswap is currently getting ready to launch its public beta version after recently concluding its private beta test..what were the successes recorded in the private beta test ,were there issues discovered how are they being resolved.Q1 from bitcointalk user Jonahap
Falconswap is currently getting ready to launch its public beta version after recently concluding its private beta test..what were the successes recorded in the private beta test ,were there issues discovered how are they being resolved.

Eric | FalconSwap: Private beta was a success as we were successfully demonstrated the working of the protocol and the features we promised:
– Non-custodial
– No gas fees trading
– Order aggregation
– Order matching on Falconswap before sending them to Uniswap
The private beta has been highly successful from a technical standpoint.
There are some bugs/feature requests like displaying the price, or optimising the slippage, UI optimisation on multiple devices etc which we are working right now

Luis Merino | Satoshi Club: When will the public beta be available?

Eric | FalconSwap: I’ll share that at the end of the AMA 😁

Mary | Satoshi Club: Oh, nice))) we will remind you)

Q2 from bitcointalk user pedronino

The token is deflationary, right? since 10% of the trading fees is used to buy and burn tokens. and also we can Earn staking rewards from trading fees on FalconSwap. In order to understand the numbers behind this sentences, please tell what is the average trading fee on the platform. In this way we can understand how much in fact are burned and are distributed to those who are staking

Eric | FalconSwap: The trading fees is 0.3%. When the orders settle on Uniswap, the trading fees goes to the liquidity providers on Uniswap and when the order settle on Falconswap it goes to the protocol. 10% of all the fees generated in the protocol is used for buying tokens and we have staking rewards and trading fees that is being used to cover gas costs.

Users don’t need to pay any additional trading fees than they would be paying on Uniswap

Mary | Satoshi Club: It has to be good numbers)

Eric | FalconSwap: The gas fees for settlements on Falconswap will be much less than aggregated order sent to Uniswap, so users will be able to select how they want to settle their orders.

Q3 from Telegram user @reidman_rosa

I’ve read your use case and it states: the gas savings are significant with approximately 64% gas saved per transaction. Even looking at the highly conservative number with zero storage variables and residual order sent to Uniswap liquidity pool (which users may opt not to), the savings on transaction fees per order is over 10%. However, when paying 15-25$ fees on uniswap, it is still expensive if I pay 7-10 on falconswap. Do you have any ideas how to reduce it to pennies?

Eric | FalconSwap: Reducing the gas fees to a third is still a considerable feat. If you are looking to reduce it to pennies then that won’t be happening on Ethereum blockchain, at least not in the foreseeable future.
Falconswap protocol can operate on multiple chains, so if there is sufficient liquidity and traction building up on other chains then we can also launch there.
Bear in mind that the aggregated orders are sent to Uniswap and it will still incur gas fees when interacting with Uniswap. What we are doing at Falconswap is reducing the need to send orders to Uniswap for settlements. Users will be able trade entirely on Falconswap with prices coming from Uniswap and other AMM pools.

Mary | Satoshi Club: Will you have orderbook?

Eric | FalconSwap: No, there will be no orderbook. But the protocol can support limit orders from users. By bringing orderbook we will actually be moving back in time and many dexes failed because of low liquidity and thin walls.

D. | Satoshi Club: and what technology do you use – ZKR or Optimistic Rollup? since you working on L2 scaling solutions

Eric | FalconSwap: The current scaling solution is on Ethereum only, so there is no friction for users to move between the chains. The current results are for Ethereum chain, where we demonstrated savings.
ZK rollups or Optimistic roolups can be used when there is liquidity on on those scaling solutions. It’s not efficient to move orders between the chains without any lags.

Q4 from Telegram Username @erol1763

How do you plan to list other coins , do they need to submit any documents verification or any ERC20 compatibility can be traded on Falconswap automatically?

Eric | FalconSwap: We need to run relayers for every coin that is listed on Falconswap, the listing process is initiated by us but the trades are decentralised.
We will work on making the listing process permissionless too, so anyone will be able to list tokens on Falconswap.

Mary | Satoshi Club: Which coins do know that will be listed at this moment? Can you name them?

Eric | FalconSwap: Can not share the name of all the coins but some of the other coins to be added after FSW have been announced by us and there are a few more to come.
We will also be listing some high volume tokens from Uniswap.

Q5 from Telegram Username @Manugotsuka

How is possible to FalconSwap have Zero gas Swaps? Considering the interaction of ETH and ERC-20?

Eric | FalconSwap: We will generate trading fees on Falconswap which will cover the cost to an extent, these zero gas swaps will be available for everyone in the beginning and then to our staking holders

Mary | Satoshi Club: During what time will it be available for no-staking holders?

Eric | FalconSwap: We will have this for a substantial time after the mainnet launch, we have set aside considerable budget for this. This feature will be essential for the adoption of the platform.

D. | Satoshi Club: do you have github? where we can see your tech/codes?

Eric | FalconSwap: We haven’t open sourced it yet, we will do that before we launch. There are already copy cat products coming in the market.

Q6 from Telegram Username @Gutike95

Does FalconSwap have any security system that prevents the existence of SCAM tokens on its platform? Will it be controlled by community vote or simply use the existing tokens on the different DeFi platforms?

Eric | FalconSwap: This is a decentralised trading platform, so if you are looking to build a permissionless system then it is open to the market like Uniswap.
In the beginning we will be adding the pairs and will be working towards making this a permissionless platform.

D. | Satoshi Club: and btw Eric can you tell us about the dates for public beta-testing, audit and mainnet launch?

Mary | Satoshi Club: We remember 😀

Eric | FalconSwap: Haha. Public beta will be launched next week! We will share the date on our official channel but this will be available for everyone with the bug fixes and some additional features

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Olonade02

Will FalconSwap support yield farming?

Eric | FalconSwap: Not in V1

Q2 from Telegram user @Jonahapagu

Falconswap is looking at optimizing slippage by using multiple liquidity pools from mooniswap, balancer , kyber e.t.c can you tell us how you intend to use this multiple pools together and has the use of this pools already been effected in Falconswap for the Public beta launch

Eric | FalconSwap: Our relayer can actually split the orders across multiple AMM pools for optimising slippage.

Q3 from Telegram user @Nickkiii

Is the FalconSwap Beta testing program still on? If yes, how can I join?

Eric | FalconSwap: We will launch Public Beta next week. It’s currently available to top 50 token holders and few selected members.

Q4 from Telegram user @jpsarmah

What is the mechanism to put limit orders on FalconSwap? Will putting limit orders and cancelling them cost fees each time?

Eric | FalconSwap: We currently don’t have limit orders on Falconswap but they can be added later. Placing and removing limit orders will not cost any gas fees.

Q5 from Telegram user @bitboyss

What is the strongest points of FalconSwap that helps to attract new investors on project & how is FalconSwap a better alternative than Justswap, Sushi swap and Unilayer?

Eric | FalconSwap: All the other protocols are either creating their own AMM pools as a fork of Uniswap or adding features to Uniswap.
Falconswap is aggregating orders and multiple AMM pools and also saving gas fees (usually aggregators cost even higher gas than normal trades).

Q6 from Telegram user @bulbul03

Recently UniSwap give a lot of $Uni for their user.Do you have any plan Airdrop or bounty FOR $FSW?Or without planning you give $FSW to FalconSwap user like Uniswap? :smiley:

Eric | FalconSwap: Stake FSW when we’ll open our staking and you’ll get zero gas fees trading. Uniswap is not offering that 😉

Q7 from Telegram user @konditer_rolex

Do you take liquidity only from dex to ETH? There is an example when projects transferred liquidity to dex built on other networks. Do you now have the opportunity to work with them? Or perhaps there are such plans

Eric | FalconSwap: Yes, we can work on multiple EVM compatible blockchains

Q8 from Telegram user @Maksyrn

Does the FSV token provide benefits other than owning it?

Eric | FalconSwap: We have a detailed blog for all the token utilities. Add zero gas fees trading to that

Q9 from Telegram user @Albert3990

Many of DeFi projects is gone in days or weeks. With this sadly cenary, why i need to choose falconswap and what is the security of this project?

Eric | FalconSwap: Projects may come and go, you’ll still need reliable way of trading them. We are building a long term project and growth of decentralised trading is just beginning. There are a lot of tools/apps/solutions available to facilitate decentralised trading which were not available to users a couple of years ago and this is only going to get better.

Q10 from Telegram user @Termuxnih

will Falcon enter the BSC (Binance Smart Chain)? which is very low fee for swapping

Eric | FalconSwap: We can, we’ll share the news if we are moving to another chain too

Part 3 – Quiz Results

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

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

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

Our partners:

FalconSwap: https://t.me/Falcon_Swap

We are pleased to announce our next AMA on October 8th 2020 at 02:00 PM UTC Time: Satoshi Club x pNetwork

⚠️Click to see the hour
⚠️Total Reward pool: $750

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

We will have the following structure:

Part 1: 175$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 175$/10 users – Open chat for 80 seconds. You can post Max 5 questions. pNetwork Team will select 10 questions and answer them.

Part 3: 400$ – A quiz about pNetwork

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

We are pleased to announce our next AMA on October 3rd 2020 at 12:00 PM UTC Time: Satoshi Club x ChartEX

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join ChartEX 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. 4 Questions will be selected from our website – please submit your questions in the comments section of this post. 2 Question will be selected from Bitcointalk thread.

Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. ChartEX Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about ChartEX

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

Self-education is one of the ways to success and in Satoshi Club we give this opportunity to everyone. Discover projects, learn and earn! And today we would like to tell you about the AMA session with our friends from Reef DeFi. The AMA took place on September 29 and our guest was Denko Mancheski, CEO of Reef .

The total reward pool was 500$ 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: Good afternoon, Satoshi Club! Today we have a guest Reef DeFi:grinning: @denkomanceski we are glad to see you here!

Denko Mancheski: Hello everyone. Glad to be here as well!

D. | Satoshi Club: hello all! @denkomanceski hello! and welcome to Satoshi club!

Mary | Satoshi Club: Please tell us about yourself and how you started working with Reef DeFi?

Serg | Satoshi Club: Welcome to Satoshi Club 🙂

Denko Mancheski: My name is Denko, I am CEO of Reef. I have a tech background myself. Started development in early high school with C++ and then worked in the commercial world for healthcare platforms providers as well as ERP system providers. 5.5 years ago I got into crypto and started blockchain development myself. My first experience was with NXT (then turned into Ardor), and I have also been doing a lot of Solidity (Ethereum), Steem and some EOS. Since I am based on Slovenia, the development community is not so big, so I’ve been working with familiar people. 2 years ago we teamed up and worked on multiple blockchain as well analytics projects together. In January this year we decided to focus on DeFi and started building Reef.

Mary | Satoshi Club: far-sighted decision:grinning: defi is on fire now)

D. | Satoshi Club: how big is your team?

Denko Mancheski: We are over 12 people. Half of the team is the development team. We are expanding as we speak 🚀

Mary | Satoshi Club: Why you choose financial industry for your project?

Denko Mancheski: Finance is my second biggest passion after technology. I have been involved in many projects (from accounting to stock market) professionally, so DeFi was natural for me personally. Besides professionally, I mostly read on finance (value investing mostly)

D. | Satoshi Club: crypto is perfectly fit with finance )

Denko Mancheski: Crypto fintech is the best :100:

Mary | Satoshi Club: what would you recommend to read the beginner?)

Denko Mancheski: I think one should start with basic financial literacy and learn about how to spend (or how not to) their money, what is compounding, what is asset and what is liability, etc.. then progress towards basic accounting and proper mindset for what money are and what is the best way to manage long-term

this one is super useful, might have to watch it more than once though

Mary | Satoshi Club: I definitely would, thank you)

Q1 from bitcointalk user george.bend

Reef enables trading with access to liquidity from both CEXes and DEXes. I didn’t read your technical paper, but please explain how this happens? I will have an account connected to both cexes and dexes?

Denko Mancheski: Basically DEXes are integrated through the Reef smart contracts, and we have mechanism to determine in which dex you will get the best rates.
CEXes on the other side are integrated through prime brokers. This might require KYC after certain amounts

Mary | Satoshi Club: What does it mean prime brokers?

Denko Mancheski: An example for a prime broker is Changelly. Its basically a company which is in the background integrated with all the CEXes and you can use their APIs to get quotes + to request a transfer (you send them the amount + the recipient address, and they send you the rate + the receiver address)

Mary | Satoshi Club: So, you will partner with prime brokers projects, right? Or already did this partnerships?

Denko Mancheski: We already started discussing with some potential partners (we will have multiple prime broker integrations in the background). The access to CEXes is coming in Q1 2021

Mary | Satoshi Club: Great, hope to hear about new Reef’s partnerships soon)

D. | Satoshi Club: and btw, please, tell us why your litepaper isn’t available on your site? it’s not ready yet?

Denko Mancheski: We decided to turn the litepaper directly into a whitepaper because I wanted to add more technical things. The litepaper might still be a good read for a not so tech-savvy person, so I will reconsider publishing it this week

Q2 from bitcointalk user JonahAp

One of the major components of Reef protocol is the machine learning and AI powered DeFi yield engine… One of your aim is to simplify the use of DeFi protocols for all users.. How does this Reef yield Engine help in realizing this goal in ensuring less complexities in the use of DeFi protocols?

Denko Mancheski: The Reef yield engine is powered by our analytics engine which in the background is using different statistical models and machine learning. The engine aims to maximize your yield by routing your funds to the highest yielding pools. The problem is that farming protocols and instances have different risk levels. We derive risk levels based on multiple metrics, from social media traction, to on-chain traffic. This way, the users have a better understanding of how they allocate their funds, and can adjust based on their risk tolerance. We will publish our methodology on how the model is grading different DeFi activities on our blog. Basically less complexities come not from just UI/UX point of view but also from decision making. This way the users are able to get onboarded faster since there is less resistance (both on learning how to use things, but also from decision-making)

D. | Satoshi Club: sounds complicated )

Denko Mancheski: Yeah, its a bunch of data and math in the background, but the UI is super simple and the user doesnt have to do anything except to define their risk level and the amount of exposure they want

Mary | Satoshi Club: So, in simple words, you plan to gather all available information, both technical and from social media and analyse it.

Denko Mancheski: Yeah, and turn it into an actionable product (not just charts that users cant nor should know how to interpret)

D. | Satoshi Club: yes, im sure i will understand it better when im trying to do all those things )

Denko Mancheski: Yeah, its just a few sliders and buttons for the user 😀

Mary | Satoshi Club: By the way, when i will be able to try?)

Denko Mancheski: October🤞

Mary | Satoshi Club: Wow, i am preparing for sliders)))

D. | Satoshi Club: and buttons

Mary | Satoshi Club: It’s too much for me:joy: just sliders)))

Q3 from Telegram user @tryharder

Lately, many projects are using the Polkadot ecosystem. Please explain what benefits it will bring to you and why other ecosystems are not fit for your purpose

Denko Mancheski: Polkadot’s interoperability layer allows us to communicate with all the blockchains and still achieve high throughput. Additionally, we inherit their security model, which means we get to be highly resilient, can do forkless upgrades while still being able to maintain stable on-chain governance. We are fully compatible with Ethereum and the current DeFi ecosystem, but we believe in order to innovate and take the landscape to the next level, we have to take it cross-chain, and through Polkadot we are able to achieve that. One very important thing here: We are fully compatible with Ethereum and the current DeFi landscape.. the users are there and its important for us to support it from day 1.

D. | Satoshi Club: there are not many working products on Polka so far as far as i know, ofc)

Denko Mancheski: This is another advantage for us, because we want to be THE gateway to participate in polkadot projects.. and by first supporting ethereum and adding the other ecosystems, the users will not have to jump elsewhere

Mary | Satoshi Club: It was your first decision to built on Polkadot? Or you had doubts?

Denko Mancheski: We tried tendermint in the past, so Cosmos was also another candidate, but Polkadot’s parachain communication (XCMP) and bridging mechanism, combined with the possibility to run solidity code on parachains such as Plasm, use native Ethereum addresses and huge ecosystem support (Web3, Parity) were the reasons why we chose to build on Polkadot

Mary | Satoshi Club: Which assets do you plan to add? Who will decide?

Denko Mancheski: We dont add assets ourselves, the assets come from the building blocks (eg: AMMs). The initial version will have the biggest AMMs as well as lending protocols on Ethereum, and right after this one, we will be adding the rest of the polkadot (there are few projects there getting ready)

D. | Satoshi Club: do you think Polka will overtake Ethereum? Eventually 😉

Mary | Satoshi Club: I hope, without this huge :fuelpump: prices🤦

Denko Mancheski: No, I think Polkadot’s role is to unite the ecosystems, so the users will not have to ever choose sides again. Different blockchains are better for different things

D. | Satoshi Club: yeah, that’s a good point

Denko Mancheski: Right now the analogy to the fragmentation would be this: “Imagine you are only able to open facebook from chrome, and twitter only from safari”

So this needs to be fixed so people wont have to care what is where

Q4 from Telegram Username @stekbyte

The site says that Reef will allow to create a global synthetic order book, which means infinite liquidity at best rates. But will users need to register additional accounts to complete trading operations if centralized exchanges are the liquidity provider?

Denko Mancheski: Nope, as I mentioned above the integration to centralized exchanges goes through prime brokers. Certain prime brokers might require KYC, but Reef’s infrastructure will never store it (nor it will ever flow through any of our infrastructure). The whole point is to not have to register 5 accounts on different exchanges and do 5 times KYC nor interact with an order book (just like how Robinhood does it)

Mary | Satoshi Club: So, 100k$ without KYC headache?)

Denko Mancheski: 100k$ would probably not even require CEX liquidity

Mary | Satoshi Club: Oops:joy: And did you officially registered you project?)

Denko Mancheski: Officially registered it? You mean if the user will have to register themselves? You will always be able to use Reef just with just a metamask wallet

Mary | Satoshi Club: No, Reef DeFi is an official enterprise somewhere?) Or it exists just in crypto)

Denko Mancheski: Ah, you mean the entity. Yeah it exists of course

Mary | Satoshi Club: Which country?)

Denko Mancheski: The legal structure is quite complex, the token issuer is in BVI (British Virgin Islands), while the operating entity in Singapore

D. | Satoshi Club: decentralization 😉

Denko Mancheski: These are the current best practices

Mary | Satoshi Club: Nice structure :grinning: do you take any responsibility on users funds if something will go wrong? Second headache – hackers)

Denko Mancheski: Terms and conditions will be published and will be a part of the onboarding. Currently still in progress. Auditing – both internal and external should be sufficient 🤞

Mary | Satoshi Club: Understand, hope for the best 😃

Q5 from Telegram Username @adnan673

Could you please elaborate more about your tokenomics (portions to be sold in private / public sale) & about the planned unlocks after them? What’s the total supply?

Denko Mancheski: Official press release is coming very soon, but yeah, we have private round as well as public (mechanism/date TBD). The private round is split into multiple and has lockup periods. The total supply is 20B tokens, the supply at TGE will be ~6%

D. | Satoshi Club: do you have burning mechanism? planning to burn some of your tokens?)

Denko Mancheski: We do have a mechanism, but as of right now, we wont plan to burn any of the tokens

Mary | Satoshi Club: Do you already have whitelist?:wink:

Denko Mancheski: Not yet. Will be announced soon

D. | Satoshi Club: looking forward for it! we with Madam love to spend our money on new crypto, right? ) @madamlobster

Mary | Satoshi Club: Yes, this is my passion 😂

Q6 from Telegram Username @yadav_199

While going through your project I found many times you have mentioned fragmented liquidity? Can you explain this term fragmented liquidity? And who are your initial pool liquidity providers?

Denko Mancheski: Fragmented liquidity happens on multiple levels. One of them being certain amount A (bids and asks) of SOME_COIN is on exchange X, while amount B is on exchange P. If you want to buy more than A or more than B, he needs to go to both of these exchanges. The issue is that if he first buys the A, the B will move since the market makers will readjust. If there is a aggregation and the users orders are routed to these 2 exchanges simultaneously he will be able to fill his full amount with the least slippage (assuming his amount is less than A + B).We have certain partners regarding the initial pool liquidity providers. Some of them are also part of the private sale

Mary | Satoshi Club: Can you tell us their names?)

Denko Mancheski: I cant (yet) share the names of the liquidity providers since we are still in the process of finalizing everything. Regarding who is part of the private sale, we already have published few interviews with some of them on our medium blog. https://medium.com/@reefdefi

Mary | Satoshi Club: Oh, i saw some of them))) nice interviews :smiley: Hope to hear more names and more about your partnerships soon) and now, as i know you already partnered with Bluzelle and Chainlink, right?)

Denko Mancheski: Yeah, we already partnered with Bluzelle, Chainlink, Plasm, etc.. the nature of the project is all about composing and integrating, so more partnerships are coming soon.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nickkiii

Tell us more about your partnership Chainlink, why are you excited to work with them and what are you both going to be working on?

Denko Mancheski: We need oracles both on ethereum as well as polkadot side of things, so Chainlink was the right way to go. They have the resources that we need + the experience in this landscape

Q2 from Telegram user @cengizhantekin

“Trade at best price”, “earn the best return of staking…” How do you assure the “BESTs”, what mechanism of your system provides all these features?

Denko Mancheski: Through our Analytics Engine, we scan the whole landscape and we determine the best allocation based on the user’s risk levels. Then, we route your funds to the appropriate protocols.

Q3 from Telegram user @ndbetting

The ReefDeFi project is being powered by the Polkadot blockchain. Why not on Ethereum blockchain instead and do you believe that the Ethereum 2.0 will launch successfully?

Denko Mancheski: Mentioned above why we choose Polkadot over Ethereum

Q4 from Telegram user @Sicxa

Which area does Reef focus on at the moment? (DeFi, Dapps,Stake, Yield Farming..)

Denko Mancheski: Through our basket engine, based on your risk levels, you will be able to participate on all of those activities with a single click

Q5 from Telegram user @xitrump

Please explain to me about The Reef Intelligence Engine, how does it work and it roles?

Denko Mancheski: I mentioned in the previous round. We collect a lot of data and we do a lot of statistical modelling and machine learning. Thie engine is powering the risk strategy. In the future we will be adding more strategies as well as allow 3rd party to publish theirs (they have to be voted)

Q6 from Telegram user @Brucedt

What makes $REEF is better compared to other Crypto?Are there any unique mechanisms?

Denko Mancheski: We provide a way for the average retail user to access to the whole landscape with very low technical barrier of entry. Our retail investor is our best customer, and since we will be the first ones to give access to the users to multiple ecosystems, we believe we will manage to get quite high market share

Q7 from Telegram user @CelllIFE

How will Reef Finance ensure the safety of users’ funds?

Denko Mancheski: We are 100% non-custodial. We are not holding users’ funds. Its all happening on the blockchain. We are in a process of getting audited by multiple top-tier firms

Q8 from Telegram user @Fadang

What will Reef Finance do to build a thriving community that truly cares and supports the project for the long term, not just for a temporary profit?

Denko Mancheski: We have experience with establishing mechanisms to validate which things are interesting for the users and which are not. Initially we are launching based on what we think is very necessary atm, but in the future the product will be shaped based on what the users want and need. We believe the community is the most important aspect of the project, and the users spreading positive feedback about the project is our no #1 priority

Q9 from Telegram user @Gutike95

really why call this project “REEF”? What is the meaning of this word related to the project?

Denko Mancheski: https://en.wikipedia.org/wiki/Reef The idea for the name came from the fact that most of the ocean animals are meeting around the Reef. In our case, since we are a DeFi operating system which is aggregating both liquidity as wel las DeFi activities, we believe that the name Reef has a great analogy with our product!

Q10 from Telegram user @KeymerS

It is known that Dex platforms are really complex to use, how much more will you manipulate a platform that combines CEX and DEX and integrates all the chains? or does it really have a practical and simple interface?

Denko Mancheski: Our core goal is low technical barrier of entry. Reef abstracts away the complexities of using order books and learning how different DeFi protocols work. Just like Robinhood app gives access to the average user to the traditional financial landscape (derivatives, option chains, etc..), Reef gives access to the DeFi landscape and tokens and additionally augments the decision making process based on user’s risk levels.

Part 3 – Quiz Results

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

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

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

Our partners:

Reef Community: https://t.me/reefdefi