Satoshi Club

We are pleased to announce our next AMA on September 5th 2020 at 02:00 PM UTC Time: Satoshi Club x Hedget

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hedget 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. 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: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Hedget Team will select 10 questions and answer them.

Part 3: 500$ – A quiz about Hedget

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

Defi has been the main topic in the last month and today we would like to tell you about the AMA session with our friends from DefiKing. The AMA took place on August 31 and our guests were Neo Wang and Artem Gordadze.

The total reward pool was $600 and it was splitted into three parts.

In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Serg | Satoshi Club: Hello, dear community! Our guests today are from @dfkofficial. Welcome to Satoshi Club!

Irina K. | @satoshi_club: Hi everyone. 😀

Serg | Satoshi Club: @artem_gordadze @Neo_WangCWV , welcome!

Neo Wang: Hi! Glad to be here with Satoshi Club community!

Artem Gordadze: Hey.

Serg | Satoshi Club: Welcome to Satoshi Club 🙂 let’s make a small introduction. Please tell us a bit about yourself, how did you get in crypto, how did you start DefiKing.

Neo Wang: …I’m Neo Wang, early investor of BICC exchange, manager of CWV main chain Foundation.

We initiate the project Defiking in 2017, very early, even before Defi was hot in the market

DeFiKing is a decentralized financial cross chain protocol platform, which completes smart contract through cross link protocol and achieves better decentralization and data security through Oracle Mechanism. At present, it includes tools for automatic liquidity mining, loan protocol, one button savings account, mutual aid game playing platform, etc.

Defiking will combine Centralized Finance (Cefi) and Decentralized Finance (DeFi) to solve the main pain-points of users such as high service charges, poor user experience and high threshold for understanding smart contracts.

Artem Gordadze: Here is also brief about myself. My name is Artem Gordadze and I am responsible for the overseas Marketing Strategy and communications.

Irina K. | @satoshi_club: Thank you! How big is your community at the moment, by the way?

Neo Wang: Our early development mainly focused on China, creating communities of tens of thousands of people, and get supported from many projects, such as Tron.

Our overseas community is just getting started. In half a month, we have created over 1,000 main communities and over 3,000 small language communities, including Indian, Indonesian, Vietnamese, Turkish, Spanish, Filipino, Arab, And Russian-speaking communities. https://t.me/dfkofficial

Serg | Satoshi Club: We had Justin here as a guest, are you friends?

Neo Wang: Yes, we are very familiar with each other. Our project just launched in Justswap, and they have been very supportive and promoted.

Q1 from Bitcointalk User juanes

You claim to solve issues and reduce costs for both centralized and decentralized finances. For what services specifically and how?

Neo Wang: Defining adopts the mode of out of chain and uses VRF consensus mechanism to reach the final agreement of external data. The purpose of the language sub chain is to analyze the acquisition of data outside the chain, use the nodes of edge computing, face to a wider range of user nodes, actively participate in consensus, and jointly maintain the fidelity of Oracle data.

Compared with other mechanisms, we have a lower threshold and can be closer to the general users.  Through our parameterized decentralized DeFi template library, any individual can start financial business on our DeFiKing, everyone can become a financial expert, and everyone can be an intelligent investment adviser. This is our goal of DeFiKing. Therefore, we believe that we will win our end users in the brand-new market, and realize asset income increase through intelligent investment advisory.

Q2 from Bitcointalk User idee002

Security, Liquidation and Slashing risks are associated with Defi protocols. What are DFK countermeasures to deals with such risks? What are DFK Risk to Reward ratio, compared to other DeFi protocol platform?

Neo Wang: Thanks for the good question.t In terms of security, I would like to explain that DFK is based on the CWV master chain network that has been running steadily for 2 years. The transaction and data of clearing assets are in the CWV master chain, and the transaction speed is also a key factor to reduce risks. Technically speaking, CWV 2.0 has achieved instant block generation with the stack height at about 50 million blocks, TPS/CTPS higher than 50 thousand. It can also support supernodes at the amount of over 100. 

The new 2.0 main net of CWV has adopted a VRF, PoSt and a multi-layer consensus structure with transaction block confirmations of less than 1 second to create an underlying storage framework with high scalability, performance, and stability shared by users that will be the world’s best. DFK is a protocol that runs on CWV, and the speed and fees of the network make it possible to quantify transactions more reliably than other protocols.

Q3 from Telegram User @cryptomonkss

How does your crosschain system work and on how many Blockchain? Where do we have more advantages for mining? On Tron or Ethereum?

Neo Wang: In the future, it can be seen that the yield of the same product is definitely higher, accounting for 5% of the fee. The purpose of cross-chain is to address the community’s demand for opportunities to trade different assets and to lower operational barriers.

TRON and Ethereum will both have protocol nodes to drive cross-chain asset transactions. Besides that, there are a number of data sets in the Defiking agreement, and each data set has its corresponding token.

The data set’s token is exchanged with the token pool and the protocol token king.

The data provider needs to pledge the tokens of the data set, the holder of the tokens of the data set votes on the data provider, and the top nodes become the data providers.

There is a coordinator in the Defiking protocol, who collects data submitted by the data provider for aggregation, and then sends the aggregated data to the node signature in the data set. The signature ratio reaches more than 2/3, and the coordinator uploads the data to the chain for call by the data demander.

After completing the data supply, the system will reward the data set token to the data provider and the voter, and the reward will be mostly distributed to the data provider.

Irina K. | @satoshi_club: Like a smart contract? Or what kind of agreement?

Neo Wang: Of course.

Q4 from Telegram User @jefer_bn

I have read that beside the liquidity mining you also have the loan option. What is the percentage for borrower and lender? Is the smart contract audited for this?

Neo Wang: Many of the features are currently in final deployment, being tested, and will be invited to test and participate once they are open. Smart Code has been open source and submitted to security audit.

Together, through community autonomy and professional institutions, we ensure stability, and at the same time, we have our own mobile rewards.

At the same time, we will listen to the opinions of the community, give the community a better reward, to complete the whole more perfect.

Q5 from Telegram User @GoldRocket27

I want to start mining $DFK. What do I need to know for this? When exactly do you start mining?

Neo Wang: This will start soon, and it will pay off handsomely. Please pay attention to our project and wait for notification. 😁

Irina K. | @satoshi_club: Yep. Where should people follow you? Maybe someone hasn’t notices the links.

Neo Wang: https://t.me/dfkofficial Welcome to join us and we shall have liquidity mining soon!

Irina K. | @satoshi_club: Thank you. Let’s jump to the last question of part 1.

Q6 from Telegram User @thoatuy2507

One of the most controversial question in blockchain is transaction reversal. There are a number of users and devs who do not agree with this. I verify DFK has this option. How does its works?

Neo Wang: This is an interesting question. But as an entrepreneur, as a server, I think, community voting and team autonomy, sometimes we don’t have to prove who’s right or who’s wrong, but we try to do what everyone wants. At the same time, we will have partner companies and security companies to help us audit our vulnerabilities and solve problems.

In my opinion, it is basically impossible for a decentralized system to capture data from a centralized system to do justice and public trust. The problem of reliable data sources to be traced to the source is not something that can be solved by prophecy. Even if the lottery results, there will be rollbacks, and there are plenty of examples of exchange rollbacks. Blockchain is to solve the problem of trusted computing. Data trustworthiness means that it will not be tampered with or rolled back in the calculation process.

The data credibility problem of DeFi does not depend on the data source, but on the calculation, the calculation results and consensus. There are many algorithms to prevent data from being predicted, such as VDF, beacon, etc. In the case of preventing the node from doing evil, the consensus mechanism can ensure that the calculation is credible, so the data is credible.

In the aspect of preventing data fraud, DeFiKing’s Oracle adopts the way of VDF delay verification function, which makes it difficult to predict and control data unilaterally. In terms of data input, we do not use manual input, but through the Oracle engine robot mode. Oracle language control script, to achieve data timing and fixed-point sampling. Of course, if the contract script is not well written, it is difficult to ensure the data consistency. Therefore, we have a complete set of security audit mechanism for contracts, and only contracts that meet the security and performance requirements will be accepted.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @fionatodamoon

As a decentralized financial cross chain protocol platform, may I ask you to explain Defiking’s cross chain mechanism and its role. Compared with Polkadot and Cosmos, what are the characteristics of Defiking’s cross chain protocol?

Neo Wang: In the cross chain platform, the out of chain protocol adopts the Gateway mode. By connecting different link ports, the two-way contract locking is attached to ensure the consistency of cross chain assets view and the security of assets.

Gateway mode is also a multi-point consensus, which is the verification node mechanism of each chain, and does not need a lot of storage space and memory. It can be rapidly deployed and applied, and the mode based on multi-point backup and multi-point consensus is also the guarantee of system reliability.

In contrast, DeFiKing’s model is easier to implement, and easier to include agreements of other main chains, to realize cross chain asset parallelism and asset encapsulation management, and to realize decentralized financial derivatives such as mortgage, equity distribution, fixed income, floating income, hedging, leverage, futures and other financial derivatives.

Q2 from Telegram User @YANG_TERSAKITI

Can you list 1-2 killer features of #DefiKing that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Artem Gordadze: I believe that the main feature is that Defiking Agreement will combine centralized finance (CeFi) and decentralized finance (DeFi) to solve the main pain points of users, that is, high commission, poor user experience, and high barriers to understanding smart contracts.

This hybrid solution definitely becomes the most necessary bridge between blockchain space and classic financial markets.

Q3 from Telegram User @Jonahapagu

The Goal of DeFiking is to be the King of cross-chain DeFi what types of public chains do you plan to integrate into your ecosystem.

Neo Wang: So far we have reached a preliminary collaboration between ETH Ecology and EOS, TRON and DOT. In the future we will publish our own collaborative standards and developer standards. We will have our own preferential policies on GAS fees and developers.

For community members, we are happy to have you on board, we hope you are a developer or better communicator, we will also give you relative rewards based on your information and contribution.

Q4 from Telegram User @BboyForteVZLA

DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinion about DeFi with us?  Do you think that DeFi will disrupt the existing financial system? What is DeFi King approach towards the DeFi sector?

Artem Gordadze: I believe that DeFi model still needs to prove while it would be expanding in different verticals as well as different blockchains beside the Ethereum.

I could say that DeFi is to the current alt season what ICOs were to 2017’s alt season. However, it’s worth noting that price surges, although impressive, are still considerably small when compared with 2017. It’s also worth noting that while DeFi has been growing exponentially, the amount of funds locked in DeFi is still small compared with the numbers generated by ICOs in late 2017. There is currently over $7 billion worth of tokens locked in DeFi protocols, while the ICO of EOS alone raised a record-breaking $4.1 billion.

While DeFi may not be as hyped up as ICOs were, there are still a number of concerns that could signal the demise of DeFi if not dealt with. There are still many security issues within the DeFi ecosystem that have resulted in faulty protocols and malicious attack vectors for several projects, and governance is also a growing concern within the space. There is also the question of Ethereum’s sustainability, as the blockchain continues to be under more pressure.

Q5 from Telegram User @HeRmAwAnTrAdEr

What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year of DefiKing?

Neo Wang: Multiple data and trusted data are the key metrics we use to ensure flow, and in the market maker sector, we use company-level collaboration and our own controls to give the market more of what it wants as users grow and markets grow.

Q6 from Telegram User @halofit

Can you list 1-3 killer features of $DFK that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Neo Wang: Free choice of the number of node operators required.

Use the on-chain validation contract to identify high quality nodes.

Use up – and down-chain reputation indicators to identify high – quality nodes and penalize the collateral assets of malicious nodes. These are our strengths, and the team is currently one of the best in the world in terms of multiple data, trusted data, and cross-chain.

Q7 from Telegram User @Aguacate30

There are mining platforms in which you must comply with a number of hours mining in order to be rewarded. I read that you offer mining, do I have to comply with a strict schedule on your platform or are the rewards given by the amount of validations made by the miners?

Neo Wang: Compliance with the schedule of the platform and the requirements of the mine owner seems to be the same at present, but in the future, we will make better optimization to facilitate more participants to have a better experience. We also hope to hear better opinions from outside the team, so as to make the project reach a higher height.

Q8 from Telegram User @CryptoEnth

How is Defiking, CWV and BICC related? What are your future plans to bring them altogether? And how will it be a win win situation for users and investors if all 3 come together?

Neo Wang: Many people have asked me this question. Let me explain it in detail here.

CWV: Provide blockchain infrastructure and solution output.

The Defiking: a decentralized trading aggregation platform (with underlying technical support and incubation provided by CWV).

BICC: An early cooperation platform for CWV and the first choice for CWV transactions.

 My experience in the industry is one from Turn from CeFi to the wave of DeFi. In my opinion, in addition to Bitcoin and Ethereum public chain, DeFi is almost the only field that can generate real revenue, especially from Uniswap, Balancer, compound, etc., which can capture the actual cost. If the daily trading volume of Uniswap was US $100 million yesterday as its average daily trading volume in 2020, the annual trading volume could reach US $36.5 billion, and the fee income that could be captured could reach US $109.5 million. In the field of encryption, the number of revenue is not small.

I personally think that Uniswap highlights the venture capital part of DeFi, and enlarges the nature of the game infinitely. Its logic is very similar to the hot ICO in 2017. In a short period of time, there are countless tokens trading in Uniswap every day. A large number of users enter the market crazily. They issue coins, fry coins and fight wantonly in the secondary market. As a result, this project originated from “DeFi” has become more and more far away from DeFi.

However, due to the lack of playing method, application, value and landing, the rate in the field of DeFi is also short-lived. Although there are many disadvantages, this does not hinder the contribution of Uniswap innovation attempt to the field of DeFi.

At present, I see many problems in my eyes, including speed, security, gas cost, cross chain currency conversion, Oracle trusted environment, so I am more willing to solve these problems. I personally think that I need to make my due contribution and responsibility to the global blockchain industry. At the same time, I also recognize the future market of DeFi, so I will join it.

Q9 from Telegram User @Idee01

Total supply of $DFK is 1BILLION. How do you plan to improve the token value to benefit long term holders? Any plans for token reduction such as token burn, buy-back or staking?

Neo Wang: The company Defiking distributes 50% of all earnings to coin holding users for dividends, and participates in the DFK lock warehouse to enjoy the platform dividends. All the Defiking earnings are changed to 50% for buyback and destruction, and deflation represents value added.

If you own DFK, you will enjoy the right to vote on the development of our Platform. In terms of growth space, we are more willing to work together with the market and the community to achieve better returns.

Q10 from Telegram User @anhdao23

In the bad situation of the Covid-19 epidemic, every industry was heavily affected. Does it affect on the growth of DefiKing team and its? What are your plans to turn challenges into opportunities for DefiKing Development?

Artem Gordadze: The Covid-19 epidemic, every industry was heavily affected, that’s true. But for Defiking and blockchain space that’s also a good opportunity cause everyone spend more time online and sitting at home. The main point is that in this space you still can invest and trade while in classic businesses people have big losses because of the global shut down, especially air flights, tourism, etc.

We are moving forward with our project development and expanding the team with professionals from different parts of the word. Trying to be on the same page with our competitors, following market trends.

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PART 3, QUIZ AND INFO

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

Main group : https://t.me/dfkofficial

Twitter account: https://twitter.com/dfkblockchain/

Website: https://www.defiking.io/

So, today is the last day of August and tomorrow September will try its best to have us forget the summer. But SatoshiClub AMAs are unforgettable and now we would like to tell you about the AMA session with our friends from RAMP DEFI. The AMA took place on August 31 and our guests were Lawrence, Project Lead at RAMP DEFI and Zheng Rong, Marketing Lead and co-founder of RAMP DEFI.

The total reward pool was 700$ 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

Serg | Satoshi Club: Our guests today are from RAMP DEFI . Don’t forget to join their Telegram group @rampdefiofficial . Welcome to Satoshi Club! @lawrencelhz and @zrong, welcome!

ML | Satoshi Club: Hello, @lawrencelhz and @zrong ! Thank you for joining our AMA! Please tell us about yourself and how you started with Ramp DeFi?

Lawrence – RAMP DEFI: Hey @sspurss thanks for having us here today! And thanks everyone for taking your time out 🙂

Serg | Satoshi Club: We are glad to have you here. A lot of hype around your project 🙂

zr | RD: Thanks for having us @madamlobster @sspurss! Hi everyone, thank you for taking the time for the AMA 🙂

Lawrence – RAMP DEFI: A quick introduction about myself – I am from Singapore, and started working in the traditional finance industry since 2012, focusing on private banking and corporate M&A. I then joined IOST, a layer 1 blockchain solution.
This was in early 2018 and I was the International Growth Lead starting from when IOST was pre-testnet, to testnet, to mainnet, to onboarding over 300 nodes into our ecosystem, and having over USD30m in staked assets.
Seeing that DeFi is growing rapidly, I eventually started and launch RAMP DEFI with my cofounders 🙂

zr | RD: Quick intro: I’m zr, Marketing Lead and co-founder of RAMP Defi . Previously Managing Partner of Merkle Ventures, a consulting and investing blockchain firm focused on layer 1, layer 2 and DeFi. Co-founded NOX, which developed on-chain custody utilizing cloud HSM.

Serg | Satoshi Club: So, RAMP Is basically the team from IOST?

Lawrence – RAMP DEFI: Not at all, its just me from IOST haha. The rest of the team have very differentiated and diverse experiences. Which is great as we all contribute viewpoints and skillsets from various angles 🙂

Serg | Satoshi Club: Got it 😁 That’s great. I also think that different brains see things from different angles. And it’s good for the project

ML | Satoshi Club: How do you feel in crypto after traditional finance? @lawrencelhz

Lawrence – RAMP DEFI: Liberating for sure haha. There’s a lot of rules and paper pushing in traditional finance, but in crypto its very outcome driven, and we get to be a lot more focused on being productive and delivering tangible results

ML | Satoshi Club: Yes, a lot of freedom here)

Lawrence – RAMP DEFI: Its a lot more risky for sure, but high risk high rewards 🙂

ML | Satoshi Club: Yes, risks:joy: we feel this every day
And thank you for introduction, are you ready for the questions collected from our community?

Lawrence – RAMP DEFI: Haha yes, and I hope the rewards too! 😂For sure, let’s do it! 🙂

Q1 from bitcointalk user let098765

Ramp Defi is partnered with Elrond, how is the partnership going on? Why choosing Elrond ,what is the best deal that you have for them? What is the win-win agreement to the both of you to have a good relationship to each other?

Lawrence – RAMP DEFI: Elrond has been a great partner, and has given us excellent support during this early stage period, which we are extremely thankful for. They have been fast to recognize the opportunities that RAMP’s solution to unlock liquid capital from staked assets is very meaningful for their ecosystem, investors and community.
The win-win situation is that Elrond can help us to drive adoption, as the community already trust the foundation, and we can help their investors and community get more efficiency on their invested capital.

ML | Satoshi Club: Do you have any other partnerships?

Lawrence – RAMP DEFI: Yes we do! One more shall be announced tomorrow, and many more, to be announced over the next couple weeks 🙂

ML | Satoshi Club: Tomorrow? You know, we like secrets here very much)

Lawrence – RAMP DEFI: Yes. Tomorrow haha

ML | Satoshi Club: May be you can give us a hint?)

Lawrence – RAMP DEFI: A very active blockchain with over 30m USD of daily trading volume. If you would like to see which other blockchain is partnering with us, can follow us in our telegram channel! Haha

ML | Satoshi Club: For sure:+1: thank you

Serg | Satoshi Club: https://t.me/rampdefiannouncement This one? 🙂

Lawrence – RAMP DEFI: Yes hahah

Irina K. | @satoshi_club: @ciupidos is preparing part 3 here :blush:

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Q2 from bitcointalk user k.muller

there is a feature to unlock staked capital on non-ERC20 blockchains. On what blockchains? what stacked capital are you unlocking?

Lawrence – RAMP DEFI: If you look at ecosystems like Elrond or IOST, there’s a lot of staked assets, from when investors purchase ERD or IOST, and well, put into staking. This is returning 5-10% a year, typically In crypto, that’s not a very high ROI. Especially in current times haha

So these assets represent capital that is inefficient. Potentially, you can switch these investment into higher yielding assets. Hence, there is opportunity cost. Once RAMP unlocks liquid capital from these assets, invstors have extra capital to invest, without needing to take more cpaital from the bank and still get to receive staking rewards, and own the underlying portfolio 🙂

Serg | Satoshi Club: Yesss, I can get 5% from a bank 😁

ML | Satoshi Club: Which bank? They offered me 1.3% last month:joy:

Serg | Satoshi Club: A good one 🙂

ML | Satoshi Club: it attracts! And what blockchains?

Lawrence – RAMP DEFI: All PoS blockchains can be done, although we are prioritizing those with high trading volume, large value of staked assets and friendly staking/unstaking periods. done 🙂

Q3 from Telegram user @dominiksss

You have terms such as Total Value Locked (TVL), and Total Value Unlocked [TVU]. What does this stand for and how does this work?

Lawrence – RAMP DEFI: Yup! So RAMP DEFI is very different from other DeFi projects. If you see many of the DeFi projects right now, they are competing with each other for liquidity, for the same dollar. And they measure it by Total Value Locked (TVL). You can see this on analytics sites like DeFiPulse. For RAMP its different. We see a huge amount of staked capital (USD22bn) already locked up in staked assets. And we want to extract liquid capital from it. Hence Total Value Unlocked (TVU) is how we measure the extra capital we are sending back into the broad crypto economy. We see it as a “blue ocean” strategy that grows the entire economic pie, rather than compete for liquidity 🙂

ML | Satoshi Club: Yes, do you have any competitors in this field? Nice strategy, already marked this book “to be read”:wink:

Lawrence – RAMP DEFI: Not really. We are pretty unique in that we are looking to make dollars flow in a globally connected liquidity network. There are a few other project that’s working on wrapping assets and creating synthetic asset derivatives like StaFi, but the creation of a synthetic asset derivative does not make value fungible, given that all assets have their own attributes and different value. We turn the assets into dollars (instead of just a wrapped asset), which makes it simple for value to flow.

ML | Satoshi Club: But for all assets you will have your own stable coin, am i right? Like eGLD?

Lawrence – RAMP DEFI: The staked assets will all come under a common stablecoin standard call rUSD. So suddenly value is very tradable and transferable. eGLD is a reverse token split of ERD so its somewhat different haha

Q4 from Telegram user @tv100029

Could you give me more details about Collateralization and Liquidation Design ? What happen when we choose to issue at a higher Collateralization Ratio ? How can $RAMP holders benefit from rPool ?

Lawrence – RAMP DEFI: Issuing at a higher Collateralization Ratio means that you have more buffer if the token price experiences big fluctuations. Otherwise if the token fluctuation is too big, liqudation may occur. This is similar to MakerDAO (liquidation of assets). rPool collects a small% of staking rewards from all blockchains, and also lending/borrowing fees generated, and distributes to RAMP token holders (who staked their RAMP tokens) on a regular basis. RAMP supply is fixed, so the more assets we unlock, the more absolute dollars are generated as revenue for RAMP stakers. So we are one of the few projects in the marketing with an actual business model haha

ML | Satoshi Club: So, users can loose their funds, am i right?

Lawrence – RAMP DEFI: Potentially yes. There are definitely risks involved when leveraging your capital and portfolio. It’s similar to margin trading, in a way.

ML | Satoshi Club: How many coins will ever exist?

Lawrence – RAMP DEFI: 1 billion is fixed. However, RAMP holders can stake to undertake governance, and choose how to manage supply (e.g. token burns, or inflation).

Q5 from Telegram user @Jhonathanch

What is the difference between Alpha, Betha and Delta pool? I mean, why are there three RAMP token pools? Also, why are these three necessary for the platform to be profitable and what is the function of each one? Thank you!

Lawrence – RAMP DEFI: RAMP focuses on a community participation model. The different pools are to incentivize users to participate in as many activities as possible within the RAMP ecosystem. You can farm Alpha Pool if you stake your assets through RAMP delegation contract. You can farm Beta Pool if you become an LP for RAMP. You can farm Delta Pool if you undertake lending and borrowing in RAMP. The more you participate, the more you are rewarded. So you can stack up all these yield streams, simply by being an active member of the RAMP network.

The key is that for liquidity unlocking to be kickstarted and to start flowing, there are key activities to be undertaken, and we have identified these activities and use different yield farming pools to incentivize participation.

ML | Satoshi Club: Yes, active community is one of the most important things) and i see that you are focused on it:+1: By the way, when do you expect Public Sale to increase your community?)

Lawrence – RAMP DEFI: Yes we are! 45% of the token supply is kept aside for farming, so its very community focused 🙂 We are working hard on getting the private sale out, and current estimates are for it to be held next week! Not entirely confirmed of course, until the release of our official Medium article that details the process 🙂

ML | Satoshi Club: Oh, it’s something like a small secret which we like here

Lawrence – RAMP DEFI: done 🙂 Specially for Satoshi Club. Hahaha

Q6 from Telegram user @getrichie

Do you have a glossary for all your terms and what do they all mean? rMint, rStake, eMint, eFarm and rFinance

Lawrence – RAMP DEFI: Firstly, we have productize the ecosystem. This is important because it makes us create specific products that provides specific outcomes towards liquidity unlocking, and not unnecessary technical infrastructure. As the liquidity network is cross chain, we have 2 sides of liquidity that we need to match: (1) liquidity from PoS network, with underlying being staked assets and (2) liquidity from Ethereum based stablecoins such as USDT and USDC. Hence there is rMint (non-ERC20) and eMint (ERC20), that mints out rUSD and eUSD. rStake provides the staking wrap function on PoS chains, and eFarm provides the stablecoin wrap function on Ethereum. And then rFinance matches the liquidity pools across chains, and let them merge/interact

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ML | Satoshi Club: And now are you ready for real storm of questions?:grinning:

Lawrence – RAMP DEFI: Lets go! hahaha

Part 2 — live questions from the Telegram community

Q1 from Telegram Username @Gaurav1444

I follow @RAMPDEFI ever since I heard it and I know you are doing many AMA’s in different groups in Telegram. So how did AMA helps your platform and what is the positive effects? What is the good result that it brings to you?

Lawrence – RAMP DEFI: Thanks for this question, and I think u hit home with this question. We have done over 15 AMAs since last week, in both Chinese and English. Our community is very important for us, and AMAs is the most direct way for us to connect and provide the education for users. It’s the hard way out as it’s time intensive, and we don’t add many users each time compared to say, using bots or more “scalable” methods. But the benefits are that most members inside our community actually know what RAMP does, and display understanding of what we are doing and looking to achieve, so we see that as a big win 🙂

Q2 from Telegram Username @mrbitcoi

Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?

zr | RD: Our immediate priority is development and rolling out all the critical features. We’re doing this concurrently as we run our public sale.

Q3 from Telegram Username @sinahanna32

Many blockchain projects and DeFi applications won’t exist in 5 years, because there is no long term source of revenue. Or often any short term source of revenue! How about $RAMP AND can u explain more and more your vision and mission?

Lawrence – RAMP DEFI: We have a revenue model in that a % of staking rewards and loan fees generated accrue and are distributed to stakers RAMP tokens.
Which makes us very different from other projects. RAMP is not a zero sum game 🙂

Q4 from Telegram Username @yzmoney

What is the realistic target for the Total Locked Unlock in your project for it be sustainable?
You are only raising usd 1 million from private and public sale, how long can this sustain the project?

Lawrence – RAMP DEFI: Very sustainable as we 1) expect to power the creation of a revenue stream for our users and team and 2) many PoS blockchains are providing us with grants to build RAMP in their ecosystem, and also actively market RAMP to their communities.
So because of this huge product-market fit, we get lots of support, and don’t require that much capital. Which means we can launch with a low market cap, and leave more token upside value for public investors to benefit from 🙂

Q5 from Telegram Username @iam12312

Building the Ecosystem & Network is always a challenge, Isn’t it?
How will Ramp deals with it?

zr | RD: The short answer is we work with investors, partners and foundations to utilize what has already been accomplished so that we can focus on the parts that require additional attention. We would likewise be leveraging on our partners as we look to build up our ecosystem and network.

Q6 from Telegram Username @yuno_02

What do you think is holding the DeFi space back? What is preventing the mass adoption of DeFi products?

zr | RD: We believe that with fastest TPS speeds and much much cheaper gas fees, more innovative products and projects would be able to be built in the DeFi space.

Q7 from Telegram Username @Maksyrn

How to keep motivation of staking cryptocurrency on the RAMP DEFI?

Lawrence – RAMP DEFI: Three main utility cases, and all require staking:
1) governance. Users participate in governance and are required to stake tokens if they want to raise proposals or vote.
2) revenue model as described earlier. You get passive income rewards distributed to you, if you stake.
3) farming power. Users who stake RAMP farm at higher efficiency compared to users who don’t. This rewards hodlers commitment to the ecosystem.

Q8 from Telegram Username @konditer_rolex

Your partner IOST launched the defi support program with $ 6 million. Are you involved in these funds? I would like to know about your interactions with this and other partners

zr | RD: We are invested by IOST Foundation and the first project in their NOAH fund 🙂

Q9 from Telegram Username @niko518

If Ethereum has high gas fee now. Why did you still use Ethereum blockchain when you want to solve best allocate capital for profit maximization?

Lawrence – RAMP DEFI: The reason why we bring liquidity to Ethereum is that most of the current liquidity is on Ethereum. USDT, USDC. All the fiat backed stablecoins are largely Ethereum based. BUSD also has a erc20 version. For value to interact, we have to bring the liquidity we have extracted to where other liquidity is

Q10 from Telegram Username @Nickkiii

How does RAMP Staking work and what is the minimum requirements for Staking, also what benefits come with staking ?

Lawrence – RAMP DEFI: No minimum RAMP or unlocking period needed. the benefits have been explained earlier, but the early plans for RAMP is to be as user friendly as possible 🙂

Part 3 – Quiz Results

In the final part we would like you to check your knowledge in terms of RAMP DEFI. They’ve prepared 4 questions for this part, so everyone could be a part and answer. All the correct answers you will find at the bottom of this Recap. Enjoy!

Q1

What is the initial Minimum Collateralization Ratio (MCR) for staked digital assets?

a) 100%

b) 120%

c) 150%

d) 200%

Q2

Name a partnership we have recently announced.

a) IOST Foundation

b) Elrond Network

c) Moonstake

d) All of the above

Q3

What does TVU stand for?

a) Total Value Unlocked

b) Total Volume Unlocked

c) Total Value Unlimited

d) Train Vehicle Unit

Q4

What solution does RAMP DEFI offer?

a) Unlocking staked capital on non-ERC20 blockchains

b) Solve issues relating to high gas fees

c) Buy and sell Bitcoin easily

d) Trade futures with up to 200% margin

Answers

1. d) 200%

2. d) All of the above

3. a) Total Value Unlocked

4. a) Unlocking staked capital on non-ERC20 blockchains

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:

RAMP DEFI Community: https://t.me/rampdefiofficial

Welcome to another exciting chapter of Satoshi Club AMA series. Today we would like to tell you about the AMA session with our friends from LEVEL 01. The AMA took place on August 29 and our guest was the founder, @jonloiyk.

The total reward pool was $600 and it was splitted into three parts.

In this AMA Recap we will try to summarize some of the most interesting points for you.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Serg | Satoshi Club: Hello dear community! Our guests today are from @level01io Welcome!

Irina K. | @satoshi_club: Hi everyone and welcome to another day of AMA’s on Satoshi Club.

J L: Hi everyone!

Irina K. | @satoshi_club: Hi Jon, thanks for joining us. For a starter, please tell us a few words about yourself.

J L: Thanks Irina, hope everyone is well too. I’m Jon and founder of Level01. It’s a decentralized platform for derivatives.

Serg | Satoshi Club: Can you tell us a bit about your background?

J L: Have been in product development for more than 15years, mobile technology and recently 3 years in decentralized finance.

Serg | Satoshi Club: How was the switch from mobile technology to decentralized finance?

J L: I like to hands on with the projects I’m working on. Mobile tech to DeFi was a new thing, as the field is also relatively upcoming. However, my background is computer science so the important thing is to have good team/consultants for the finance part.

Serg | Satoshi Club: Yep, usually a good team makes the differences. the more brains involved, the better.

J L: We have a strong team of developers and quants. Advisors are from Thomson Reuters, now Refinitiv.

Q1 from Bitcointalk User linderm

Level01 is an exchange which is both centralized and decentralized. How did you implement that? Is it like Binance and Binance Dex? do you have your own chain for the dex or it operates on an existing blockchain?

J L: Level01 allows trading of derivatives contracts, and settlement is on the Ethereum blockchain. We do not focus on spot asset trading which involves only cryptocurrencies, but rather derivative contracts trading which allows users to trade the underlying asset, in markets like forex, commodities as well as cryptocurrencies.

Serg | Satoshi Club: For those who read and don’t know, can you explain a bit about derivatives?

J L: Derivatives are a multi-trillion industry. Derivatives are contracts between parties that represent rules/agreements of settlement between any party regarding the price/market movement of any underlying asset.

Irina K. | @satoshi_club: Sounds like a perfect fit with smart contracts.

J L: So in layman terms, an agreement of, example: what Bitcoin price will be like 1day from now.

Serg | Satoshi Club: I think you explained very clearly for people who didn’t know what that is. Thanks.

Q2 from Bitcointalk User yongthanyee01

I was reading the disclaimer on your website https://level01.io/download-apk-2/ that state. All settlements are conducted on Ethereum Ropsten (Testnet) as is the hosting of in-app blockchain wallet…. So my question is the wallet app is still in testnet mode? If yes, what is the timeline to mainnet deployment?

J L: Currently the Google Playstore version is in testnet (demo) mode for users. We have deployed mainnet versions to various trading groups to gather feedback. The mainnet version will launch on 10/10 (OCT10).

Serg | Satoshi Club: what’s the feedback so far? Btw, on that date is the birthday of my mother. 😁

J L: Generally good, some adjustments required to accommodate the increase in Ethereum gas costs. Great, will remember to wish her. 😀

Irina K. | @satoshi_club: That’s interesting. How do you plan to handle the high fees on the network?

J L: We will deploy a solution to offload certain parts of the settlement to private side chains. The main settlement will remain on the main network.

Irina K. | @satoshi_club: And as a result the price will be lower, right? Gas costs I mean.

J L: Yes, our gas cost will be lower and we can sustain the whole system.

Serg | Satoshi Club: Interesting why uniswap or other similar dex don’t do that?

J L: Users pay gas cost for Uniswap.

Irina K. | @satoshi_club: Yeah, but a lot of the times high gas costs discourage small users. It’s a good thing that you’ve thought about that. Who is your ideal customer by the way?

J L: We’re open to both single users, and institutional users. There is no limit to contract size.

Q3 from Telegram User @gruvv

Tradeline, within the Level01 App, is the platform’s native method of instreaming assets from a user’s private wallet into the platform to facilitate and fund trades. What do you mean by instreaming assets from a user’s private wallet? Do you have access to them?

J L: The Tradeline is an integrated smart contract escrow system linked directly to a user’s wallet, and can only be accessed by the user. The Tradeline ensures both parties of a p2p options trade will not default halfway through the trade. This is important because the platform is decentralized and has no control over a user’s wallet. Example: Bad actors might withdraw all funds before a trade maturity and default.

We do not have access to a user’s Tradeline. It is a special smart contract which secures funds on behalf of the user and communicates this with another trading counterparty

Irina K. | @satoshi_club: Can you share if the smart contract is public? Can it be audited by those interested? Or maybe it would help if you could elaborate how Tradeline works/ operates.

J L: It will be audited by very reputable parties. User allocates a quantity of funds that he wants to use for trading into the Tradeline. The funds can then be used by the system to create contracts or buy contracts. The Tradeline funds never leaves the users control until it is used to create a trading contract, or buy a contract.

Irina K. | @satoshi_club: This will increase the trust of the community in it.

J L: Yes, this will be announced to public, along with results of the audit.

Q4 from Telegram User @hadrianus14

I see that you are not only a crypto exchange but also other things as well. Can I trade Oil, Tesla, Gold? What would be the fees? When was the oil crisis for example, there were exorbitant fees for oil trading on etorro.

J L: Yes you can trade all supported markets on the platform, not just cryptocurrencies. The platform derives commissions from the contract value, and both traders pay 2%. Fees are halved to 1% when using LVX to denominate trading contracts. Example for a $100 contract, issuer will pay $2 for fees and person that buys the contract will pay $2 for fees. This becomes $1+$1 when using LVX.

Serg | Satoshi Club: I know that on forex/etorro there are daily fees for keeping a position open. Do you have such things? or this kind of trading is not available on Level01?

J L: There is no holding fee for our trading contracts. There is a specific maturity to the contract so the settlement date is known. I think this applies to perpetual contracts, which settlement time is unknown.

Irina K. | @satoshi_club: But it can be closed before the maturity date, right?

J L: The contract cannot be closed before maturity, because you’re matched with another person p2p and not the platform which can act as a market maker. We will however provide the capability to resell the contract (with some discount) to another person in a secondary market.

Serg | Satoshi Club: Would it be possible to resell it infinite times or only the second time?

J L: Once you sell it, you no longer hold a position in the contract.

Irina K. | @satoshi_club: I have one more question regarding this. The fee of 2/ 1% is fixed? Or it changes based on the amount of traded value?

J L: It is based on the total notional value of the contract. A contract has a fixed total value when issued.

Irina K. | @satoshi_club: But it stays at 2% or 1%, no matter if the notional value is 100$ or 100k$?

J L: Yes it stays the same.

Q5 from Telegram user @nyo_cant

P2P trading is a well-known tool, but this is the first time I read about P2P options trading. How will it exactly work? What are the terms for users wanting to set a P2P agreement for options?

J L: In the App, first you select a market that you want to create the option in (example: Gold). Then you create the option contract by defining the parameters such as expiry, strike, buy/sell direction and total value of the contract. The contract will then be issued into the market for traders to buy. Counterparties take the opposing side of the trade.

Q6 from Telegram User @Jonahapagu

Level01 uses an Artificial intelligence algorithm known as Fairsense can you explain how this algorithm works and how it benefits Traders using Level01?

J L: FairSense provides real-time risk/reward probabilities for the user when they are creating or buying a contract. FairSense balances the price of the contract so that when someone buys a contract even after some time has passed and there is market movement, both parties are getting the fair value of the contract according to the current price during matching.

Means if the contract has been unmatched for let’s say 5mins, and the market price moves against you, the buyer has to pay more for the contract and will also get less profit.

---

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 @kaltumia

As a community driven project; how can I contribute my quota to your success? Do you have a Global Ambassadorial Program or Referral Reward System? Do I get any benefit from holding $level01 in long-term?

J L: Yes we will have upcoming ambassador programs, pls contact level01 telegram admin for application details. Our platform and indeed all defi projects specialize in creating opportunity for the masses. Holding level01 token (LVX) is a choice for any upcoming wealth creation opportunities because of its usefulness to traders.

Q2 from Telegram User @jobel4

Can you explain more about the peer to peer decentralized platform without having a Middleman in Level01? What is the process and structure? What is the pros and cons?

J L: The pros are that users get the most profit margin, safety and transparency because all parameters including data sources are transparent and auditable.

Q3 from Telegram User @lampung21

Is Level1 supported worldwide? Does this mean that anyone from any country has an account at Level1 and how to deploy your project to both cryptocurrency and non-cryptocurrency users?

J L: Yes Level01 is supported worldwide, with the exception of certain minimal restricted countries. We will have fiat onramps because currently that is required by users not familiar with cryptocurrency, so they can use their cards to onboard the platform.

Q4 from Telegram User @Nickkiii

I’m a developer, and I’m interested in contributing to Level01, do you have any Bug Bounty to check for vulnerabilities on your platform?

J L: Level01 is a growing ecosystem and all feedback is welcome. We do not as yet have an establish bug bounty program, but will welcome all proper and helpful feedback with special incentives.

Q5 from Telegram User @abowhasebe

What is LVX and its use on the Level01 Exchange?

J L: LVX has is designed to have special integration with the Level01 platform. It provides constant liquidity for LVX denominated trading contracts, halves fees, supplements Tradeline gas costs, and will be used to host trading rooms in the future. We will eventually also have staking mechanisms for LVX.

Q6 from Telegram User @Albert3990

I see in the site the Level01 App will only accept LVX, ETH and stablecoins (USDT/TUSD/DAI). Have any perspective to insert more coins and tokens in the next days?

J L: Yes we will gradually be adding more stablecoin options in the near future. Currently looking at DAI and TUSD.

Q7 from Telegram User @Jackluckysomuch

What are LEVEL01 plans to grow internationally, what are you currently focused on, developing or listing more markets, or creating your ecosystem or marketing and partnerships?

J L: We are currently focused on product development and building more markets onto the platform. marketing efforts and major partnerships are also underway. These partnerships are part of our ecosystem and helpful for all users of the platform.

Q8 from Telegram User @Gejwany

What is the structure of the company, is it a decentralized, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

J L: The company is a private holdings company, with the platform itself transparent and decentralized. This structure is optimal for the product because everyone is contributing to the project in a managed and structured development manner.

Q9 from Telegram User @YasueSama1

How does yr order book handle flash crash? If d price is 100, and I place a stop loss at 80. And it crashes to 10. Will my stop loss be executed? Say market crash in 15 mins.

J L: The platform is currently not dealing with spot trading, rather you create an option contract with specific parameters and await settlement of the contract. Upon contract maturity if the market price is in your favor, then you profit.

Q10 from Telegram User @captinbro

Can we monitor all transactions on the #level01 infrastructure and off-chain? Is it possible to monitor user transactions on the network? How do you ensure privacy and anonymity?

J L: Yes it is possible to monitor transactions on the Ethereum blockchain through appropriate blockchain explorers. This is to ensure transparency and users retain their privacy. Nobody knows the origin of ownership of the wallet(addresses).

Q11 from Telegram User @aturinarrsh

Currently your app is only available on Android, are you planning to launch it on iOS and add some new functionality?

J L: We will launch Android and then web-based version. iOS users will be able to use the web-based version. The iOS App will be launched after.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about LEVEL 01. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed among 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:

Level01 DeFi platform: https://t.me/level01io

We are pleased to announce our next AMA on September 1st 2020 at 02:00 PM UTC Time: Satoshi Club x POFID

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

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

Part 3: 300$ – A quiz about POFID

Special Task: $500
– First 500 users that join TG group Pofid will get 1$ each.
– Complete this form after you join Pofid TG Group.

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

Knowledge is the most valuable asset and our Satoshi Club community know that. Today we would like to tell you about the AMA session with our friends from Vesta Protocol. The AMA took place on August 28 and our guests were  Johnny Kane (CEO) and Rexx Dillon (COO).

The total reward pool was $500 and it was splitted 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

Serg | Satoshi Club: Hello dear community! @vtp_network are our guests today!

Irina K. | @satoshi_club: Hi all and welcome @Rexx_Dillon and @johnnykane. Thanks for taking the time to join us.

Rexx @ Vesta Protocol: Thanks. glad to be here.

Irina K. | @satoshi_club: How are you today?

Rexx @ Vesta Protocol: Doing great.

Johnny @ Vesta Protocol: Hi guys.How’s going?

Irina K. | @satoshi_club: For starters please tell us a few words about yourselves and about Vesta Protocol.

Rexx @ Vesta Protocol: Ok, well, I’m Rexx, COO of Vesta and Johnny is our wonderful CEO.

Johnny @ Vesta Protocol: For sure, hi folks, I’m Johnny, the CEO of Vesta Protocol

Serg | Satoshi Club: Great, we have a wonderful COO and CEO today. 🙂

Rexx @ Vesta Protocol: Vesta is a liquidity pool provider for UniSwap that pays ETH daily from the liquidity pool and burns an equal amount of Vesta tokens.

Johnny @ Vesta Protocol:  Vesta Protocol is a liquidity passive income generation protocol which aims to improve the ROI for each liquidity maker. It encourages liquidity makers to increase liquidity via UniSwap by locking their liquidity. That’s the description on WP.

So basically what we are doing is the liquidity provider for the UniSwap ecosystem. To encourage everyone to provide liquidity by providing incentives.

Serg | Satoshi Club: How did you get this idea?

Rexx @ Vesta Protocol: People lock their liquidity on UniSwap and we withdraw 5% of the ETH from the liquidity pool each day and pay to the top 50 people… like tomorrow for our first day of payouts it will be 120 ETH.

Johnny @ Vesta Protocol: The reason behind is that we found there are a lot of projects lack of liquidity on the UniSwap. Vesta protocol is the pioneer. The mechanism can be applied to other projects. But of course with some benefits to VESTA holders.

Irina K. | @satoshi_club: So you’re like a bank for the Uniswap ecosystem?

Rexx @ Vesta Protocol: It’s more like the gas in a car. You have a nice car, like exchanges and tokens, but not enough gas to make them tradable.

All people need to do is lock their tokens on UniSwap for Vesta and be among the top 50 and then they share in the payout. Tomorrow (29 of august) is the big payout because it’s the first. But there is a payout EVERY DAY. That’s how the model works.

Johnny @ Vesta Protocol: Also people recently raised concern on the dump and pump for the price of VESTA. However, the circulation decreases all the time. We also have external liquidity algorithm.

Irina K. | @satoshi_club: Ok, thank you guys for the introduction. I think we can start with part 1. 😊

Q1 from Bitcointalk User Elissa

You have a deflationary policy. Please explain how many tokens are you burning and for how much time?

Johnny @ Vesta Protocol: So it depends on the amount of ETH pay back and the price of VESTA. For example, the payout is around 120 ETH tomorrow.  The same value of VESTA will be burned, which is 120 ETH of VESTA.

Rexx @ Vesta Protocol: Yes, so the ETH is paid out each day at 5% of the total liquidity pool…and equal value of Vesta is burned.

Irina K. | @satoshi_club: And it’s paid in ETH, right?

Johnny @ Vesta Protocol: The higher the price of VESTA, the more the ETH is in the pool.

Serg | Satoshi Club: How was this amount established? 120 eth. also 5%?

Johnny @ Vesta Protocol: Since the payout for the first day is accumulative for 3 days. Thats why it’s 120 ETH. The lower the price of VESTA, more VESTA will be burned when same amount of ETH are paid to the liquidity providers.

Serg | Satoshi Club: So, you have 2400 eth in the pool?

Johnny @ Vesta Protocol: So, the presale amount is around 2000 ETH. 50% of ETH was added to the liquidity pool.

Rexx @ Vesta Protocol: We immediately locked nearly 1000 ETH from that presale into the liquidity pool. So, each day, 5% is paid out from this pool. So, for three days, its about 3 x 5% of 1000 ETH.

Serg | Satoshi Club: Got it. What about when the pool nearly gets to zero ETH?

Rexx @ Vesta Protocol: We are one of the highest liquidty pools on UniSwap now. No, it keeps getting replenished. @JohnnyKane did you want to explain that?

Johnny @ Vesta Protocol: That’s the question raised by many users. So our mechanism encourages people to compete with each other.

Rexx @ Vesta Protocol: I think they are asking how the ETH pool doesn’t eventually run out.

Johnny @ Vesta Protocol: So if you are willing to buy 1 ETH of VESTA and add it to the liquidity to get 1 ETH back?

Rexx @ Vesta Protocol: Yes, so if you buy Vesta, that means you are putting in ETH, right?

Johnny @ Vesta Protocol: Are you willing to spend 5 ETH to purchase VESTA and add liquidity to get 1 ETH reward?

With the higher price in VESTA, so everyone will think like that.

Rexx @ Vesta Protocol: You see, with the daily rewards, it means people need to compete to stay in the top 50. So, competition means they need to buy more to out-do each other…that pushes the price up for everyone and also contributes more ETH each time someone buys Vesta when they are competing.

I hope it’s clear. The whole concept revolves around generating competition in the market.

Johnny @ Vesta Protocol: If so, the ETH in the pool will at least attract 600 more ETH add into the pool.

Serg | Satoshi Club: If only the top 50 gets the big reward, don’t you discourage the small hodlers?

Rexx @ Vesta Protocol: Not really, because the small holders still benefit when the bigger players compete to hold enough Vesta and push the price up. the big holders want that daily ETH payout, so they need to buy more ETH to stay in the top 50 and that pushes the price up for everyone. So even small holders benefit from the model.

Johnny @ Vesta Protocol: That’s another question we got all the time. The pay back will be more attractive in the early stage if we keep that to top 50. We will build our DAO as well.

Rexx @ Vesta Protocol: Yes, the next step is to build the DAO so that it can be community run. We are pretty smart, but we know there are smarter people out there than us that can see directions we can’t.

Q2 from Bitcointalk User bitmartbounty

It has become a trend today for people to participate in Pre-sale and then dump upon listing in markets, how does VESTA seek to avoid this?

Johnny @ Vesta Protocol: We cannot avoid FUD, that happened to us before actually. It may affect how people judge a project as some of them don’t read wp.

Rexx @ Vesta Protocol: Yes, we already finished our presale 2 days ago. There was a bit of selling pressure but I think that some people just didn’t know that the ETH payouts would start in 3 days after the presale…. some people don’t read enough about the projects they invest in haha.

Serg | Satoshi Club: Yes, the algorithm you mentioned needs some time to show its effect and profitability.

Rexx @ Vesta Protocol: FUD is always a problem. Our competitors are worried and try to FUD us. But, we released an article on Medium last night explaining all of our smart contract code, so people can see for themselves everything is legit. that really helped a lot.

Johnny @ Vesta Protocol: What we can do is to work hard to make the whole ecosystem better.

https://medium.com/@VestaProtocol/analysis-of-vesta-protocol-presale-contract-de665a7a3ce3?source=friends_link&sk=1ed01989305f5b1bd104b664bbf28038

Rexx @ Vesta Protocol: if anyone here understand smart contracts, they will understand that article. If not, it might be a tough read haha just saying.

Johnny @ Vesta Protocol: So yes, please have a look at the medium. Also a graph to explain a bit more about the liquidity contribution mechanism.

Q3 from Telegram User @max_serbov

Please explain what are the benefits to contribute to the liquidity pool? What are the average returns?

Johnny @ Vesta Protocol: A part was covered before. I’m looking for the rank for you guys. https://etherscan.io/token/0x488d9969abe6a439368c1f959d5be4b47433cd8a#balances

And for now the ROI is over 1000%. The liquidity providers are not even 50 yet.

Irina K.| @Satoshi_Club: 😊 Sounds too good to be true.

Serg | Satoshi Club: I might hope in. when is the deadline?

Rexx @ Vesta Protocol: The first one will be in less than 12 hours from now…but they repeat every day.

Ya, I think people are probably thinking that it will be hard to be in the top50. Not right now, it’s still early. You can see in the list that it doesn’t take much right now to share the daily ETH.

Serg | Satoshi Club: This wallet is also participating?

Rexx @ Vesta Protocol: No, that one is excluded.

Irina K.| @Satoshi_Club: Can you share why?

Johnny @ Vesta Protocol: That’s the address of team and not eligible for the reward. It’s locked by SC.

Q4 from Telegram User @Brainchest

What are the guarantees that the team will not take all the money from the liquidity pool? Is the full blocking of access for the project team spelled out in the contract and where users can get acquainted with the smart contract?

Johnny @ Vesta Protocol: Yup, can be referred to the medium link we shared before actually. All our major processes are controlled by the smart contract.

Serg | Satoshi Club: We can share some small explanation if it’s possible 🙂 or it’s better to refer to the link?

Rexx @ Vesta Protocol: Yes, we believe using smart contracts is more safe and gives people more confidence.

The funds were immediately locked on UniSwap at the end of the presale automatically using smart contract. Thanks. yes. for those who understand smart contracts, you can give that a read. https://medium.com/@VestaProtocol/analysis-of-vesta-protocol-presale-contract-de665a7a3ce3?source=friends_link&sk=1ed01989305f5b1bd104b664bbf28038

Irina K.| @Satoshi_Club: Yes, everything is transparent this way.

Johnny @ Vesta Protocol: That’s the reason we prepared that to prove we are legit haha.

Q5 from Telegram User @thinhtran15

Who will have the final say in development and business decisions? How much will the elected representatives be able to influence when it comes to business and development decisions? Will the company have some kind of veto when it comes to decision?

Johnny @ Vesta Protocol: So for the very early stage, pretty much a professional team is better. Quicker for decision making etc. But DAO is the priority of our job in the following month.

Irina K.| @Satoshi_Club: Do you plan in the future to change this?

Rexx @ Vesta Protocol: Well, as we say in the white paper. We will transition to a DAO to allow the community to decide on the major direction of the protocol.

Johnny @ Vesta Protocol: Forming up a DAO to select the right project. Everyone has the right vote.

Serg | Satoshi Club: How about until then? how are the decisions made?

Rexx @ Vesta Protocol: Until then, Johnny is the boss…haha.

Johnny @ Vesta Protocol: Our mechanism is good enough, so we don’t worry about that.

Rexx @ Vesta Protocol: But, as we mentioned, most of the processes area controlled by smart contract. so, really the main parts are already covered. Again, we make all of our smart contracts available so people can trust the smart contracts and don’t need to trust people haha. A lot of other projects you have people running things, but much of our protocol runs on smart contracts so people are taken out.

Irina K.| @Satoshi_Club: When DAO will be fully implemented, will this smart contracts be voided and the decisions will be taken by the community? Or you intend to keep them?

Johnny @ Vesta Protocol: DAO will also decide that, but if the mechanism works well, I can’t see a reason to not using it.

Q6 from Telegram User @anditgoestome

You claim to have protection against price manipulation and black swan events. How can you do that?

Johnny @ Vesta Protocol: I’m not sure is this diagram is clear enough or not.

Serg | Satoshi Club: It’s clear but we can explain it a bit.

Rexx @ Vesta Protocol: We set aside 8% of the funds from the Presale for our external liquidity algorithm. This algorithm can step in during strange price events or black swan events.

Serg | Satoshi Club: So, they are already there, right?

Rexx @ Vesta Protocol: Yes, the funds are already there. I think @JohnnyKane was just going to show where the algorithm is shown in the diagam and how it kicks in to help the price when necessary.

Johnny @ Vesta Protocol: The UI for liquidity providing ranking will also be available on our website.

Rexx @ Vesta Protocol: Yes, we will have a new UI Dashboard going live on our website tonight where everyone can check their rankings for the payouts and timer, etc.

Irina K.| @Satoshi_Club: That’s good info. Thanks.

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

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

Q1 from Telegram User @Nickkiii

I’m interested in investing, though I missed the Presale round, do you plan to have a public sale soon?  If yes, how many rounds you’ll have, what’s the minimum and max cap?

Johnny @ Vesta Protocol: Starting with the first question, so yup, definitely, the trading is now available on: https://app.uniswap.org/#/swap?outputCurrency=0x3AeF8e803BD9be47e69b9f36487748d30D940b96. We only have presale round.

Q2 from Telegram User @nyo_cant

VESTA will make a first payout of around 150 ETH. Would such amounts be the same long-term? How can Vesta Protocol ensure sustainability?

Rexx @ Vesta Protocol: Someone is asking about the payouts if they will all be 120+ ETH. Well, the first one will be because it is the first one and it is accumulated from the first three days since we finished presale but didn’t payout yet. So, it’s actually 3 days combined. But, after that, daily payouts will continue but not quite as much. But, the daily payout will be shown on the UI dashboard that will go live on our website to make it easy for users.

Q3 from Telegram User @Temidayo16

You raised 1984.6ETH during the pre-sale, apart from liquidity providers, would the liquidity of Vesta Tokens be enhanced with part of the pre-sale raise too?

Johnny @ Vesta Protocol: So yup, the presale finished and we raised around 2000 ETH, our target was 500 ETH. Maybe ppl just too into us. haha, so the more we raised, the more the ETH payback will be. Which is more attractive. And liquidity providers will be more willing to provide the liquidity.

Q4 from Telegram User Saki G

What is your main goal with the future of vesta?

Johnny @ Vesta Protocol: An user made us a slogan “The liquidity King”. Vesta Protocol will be the showcase and model for all DeFi projects. Vesta Protocol will be proving presale license for these promising projects.

Q5 from Telegram User @cryptolover1010

STAKING is very popular topic recently. Please tell us in detail about the $VESTA Staking plan and the benefits of adding staking?

Johnny @ Vesta Protocol: The benefits for staking is huge, as mentioned, trying to be the top 50 liquidity provider, you will receive the daily payback. Even if you just hold vesta, you will enjoy the profit from the price pumping.

Q6 from Unknown Telegram User

…

Johnny @ Vesta Protocol: The long term benefits are obvious. The increasing in the ROI of liquidity providers is one, due to the deflation mechanism, the total circulation of Vesta decreases all the time and price of vesta will keep increasing.

Q7 from Telegram User @ndbetting

Considering that your team is anonymous, how do you plan to gain the confidence of the people? Are there some specific reasons behind anonymity?

Rexx @ Vesta Protocol: I think crypto regulations are always changing, so one can never know what laws will come in next year that will screw things up for people. So, we just like to be careful. But, as mentioned, we prefer to let our smart contracts do the talking. I would trust smart contracts over people anyways too haha, and we have published explanations of our smart contracts so that everyone gets what is happening. If anyone came in late, you can post that link to the Medium article again later perhaps.

Johnny @ Vesta Protocol: Ok, more background of ourselves, our team is literally a decentralized team. Like me myself, live in Sydney and other team members are also from different areas. By using smart contract, no trust is required. That’s the spirit of blockchain. We do believe the smart contract is more reliable thank people.

Q8 from Telegram User @Termuxnih

How do you plan to promote about your project in different countries? where English is not spoken very well. Do you have a local community so they can understand your project?

Johnny @ Vesta Protocol: Oh yup, so we have the Vietnam community and Chinese community, we will also have Filipino, Indonesian, Korean and Japanese community. International community is what we need.

Rexx @ Vesta Protocol: We did have an arabic community, but that didnt work out too well. We plan to add one soon again, though.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Vesta Protocol. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed among winners. You can check the quiz winners list here: https://t.me/Satoshi_club/234828

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: Vesta Protocol Official: https://t.me/vtp_network

SatoshiClub never waits for opportunities, it creates them. Catch one of them by joining us in this unstoppable AMA marathon. And today we would like to tell you about the AMA session with our friends from UniLayer. The AMA took place on August 29 and our guest was @geotheog.

The total reward pool was 600$ 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

Serg | Satoshi Club: Hello! Our guests today are from @Unilayer. Welcome to Satoshi Club!

Irina K. | @satoshi_club: @geotheog is our guest today. Welcome and thanks for joining

Geo: Hi guys! thank you for having me

Irina K. | @satoshi_club: Also, @madamlobster will help us today with the moderation of this AMA

ML | Satoshi Club: Nice to meet you @geotheog !

Geo: Nice to meet you all!

ML | Satoshi Club: @geotheog could you tell us a bit about yourself and how you got involved in crypto?

Geo: @madamlobster Absolutely! I first got involved in crypto back in 2014 that’s when I started buying Bitcoin, I loved the idea of a decentralized peer to peer currency and was very impressed with Satohi’s vision after reading the whitepaper.

ML | Satoshi Club: Wow! You are early adopter:+1:

Serg | Satoshi Club: Also, can you tell us a small introduction for UniLayer? What do you think about Satoshi btw? Is it a him/her or they? 😁

ML | Satoshi Club: Or it:wink:

Serg | Satoshi Club: an AI 😁

Geo: I would say that is not a him and a her is likely a group of people with an aligned set of goals that took the world by storm 🙂

ML | Satoshi Club: Great solutions! When you decide to create such impressive project? Did it take a long time to build it?

Geo: I decided to start UniLayer because I saw a big need to have limit orders, order books, charts on UniSwap. You can only “market buy” on Uniswap right now so adding those features would certainly improve the overall experience for many users. Development started almost 2 weeks ago, our OTC sale was very successful we had a lot of demand and people clearly saw the potential and need to have a platform like Unilayer.

ML | Satoshi Club: Yes, limit ordres are really what needed 🔥

Irina K. | @satoshi_club: Wow. That’s fast. :+1:

Serg | Satoshi Club: yeh, I also didn’t understand why there is only market trade)) Thanks for the introduction, Geo 🙂 we’ve collected questions from the community 🙂 Ready to dive in? to look at some?

Geo: Shoot! 🙂

Q1 from bitcointalk user gustafsson

Please explain Unilayer’s Flash Staking Model. Why is it Flash? Is it really faster than other staking model?

Geo: Flash Staking is a cool concept the word “Flash” is there for good reason, essentially you get your rewards in a “Flash” or instantly when you lock your LAYER tokens for a set period of time, for example: 30 days to 90 days, the longer you stake the more rewards you get, these rewards come from other ERC20 projects that want to kick start their project and use our Flash Staking platform to essentially “Airdrop” a percentage of tokens to our community to gain some exposure and users.

Serg | Satoshi Club: do you have an use case? with more specific examples

Geo: We have a lot of use cases and utility for the token. The one that I am personally more excited about is the UniLayer launchpad, we are building a launchpad to stop “rug pools” with our “token on mint” process. People will be able to join OTC sales on our Launchpad by sending ETH to pre-designed smart contract that will mint the tokens when the ETH is received, but WILL NOT send those tokens immediately, instead it will keep those tokens for a period of 12-24 hrs to give enough time to automatically setup the liquidity pool with part of the ETH received and lock it in a timelock contract for atleast 6 months or more, after that the contract will send out the tokens to the ILO participants.
All of this is done in a trustless way via smart contracts.

ML | Satoshi Club: So, Flash staking only for locked tockens?

Geo: Yes, you will need to lock your tokens for a period of 30 days or more.

Serg | Satoshi Club: you already answered a part from a next question 🙂

Irina K. | @satoshi_club: What’s the % that you get when locking the tokens?

Geo: For flash staking you get a bigger % depending on how much LAYER you have locked in and for how long, these rewards can vary it all depends on how many projects are being on-boarded to the Flash Staking platform and how much of their total supply they will be airdropping to our users. But do keep in mind while you are also staking and have your LAYER tokens locked you will be also receiving 92% of all the ETH collected in fees per trade that a user makes while using the Unilayer platform.

Serg | Satoshi Club: Thanks Geo! everything is clear

Q2 from bitcointalk user let098765

Unilayer just added a utility to the layer token which is Unilayer Launchpad. So what is the advantage of this added utility? How will Unilayer Launchpad works in Unilayer Application?

Geo: I think I already answered that question, but It will stop “rug pulls” from happening and it will give priority to LAYER token holders to participate in these Initial Liquidity Offerings in our Launchpad.

Serg | Satoshi Club: yes, we discussed it earlier 🙂 but the questions was preselected. We didn’t know we will discuss it 🙂

Geo: Completely understand 🙂 wish I could predict the future myself lol

Serg | Satoshi Club: girls, do you have any questions? 🙂

Irina K. | @satoshi_club: Not from me on this 🙂

ML | Satoshi Club: About future prediction?) No, i don’t

Serg | Satoshi Club: haha 😁 Q3 then 🙂

Q3 from Telegram user @lissabeth

What is your stacking model? Is it different from other types related to uniswap?

Geo: We actually just released our Whitepaper yesterday and our stacking model and technicals are all there.
https://unilayer.app/static/media/Unilayer_Whitepaper.cb8c7194.pdf
have a read, there is a lot of information in our whitepaper.

Serg | Satoshi Club: on what page can we find it? 🙂

Geo: Page 30 and 33 I believe.

Serg | Satoshi Club: have you participated in the writing of the whitepaper btw?

Geo: Yes I have, I wrote most of it except for the development and technicals since I am not a developer myself, our developers had to jump in and help in that part 🙂

Q4 from Telegram username @stekbyte

What solutions do you see to reduce the load on the Ethereum network. Now the high price of gas has become a critical problem for many projects.

Geo: I believe our devs mentioned that there is not much to do besides improving the contract architecture, unfortunately if we want to keep it 100% decentralized we have to wait until ETH 2.0 comes out and improves the overall scalability for ETH.

Serg | Satoshi Club: @geotheog , maybe you can explain if you have solutions to reduce the gas costs of the transactions like redirecting it on sidechains

Geo: I believe our devs mentioned that there is not much to do besides improving the contract architecture, unfortunately if we want to keep it 100% decentralized we have to wait until ETH 2.0 comes out and improves the overall scalability for ETH.

Irina K. | @satoshi_club: Hopefully it will happen soon. Did you hear any news about their testnet results?

Geo: I believe there were some bugs? I am not really up to date but they say it could take up to 18 months?

Irina K. | @satoshi_club: Wow. Didn’t know that it will take that much time.

Serg | Satoshi Club: I remember 2017 when they said it should be released soon 😁

Irina K. | @satoshi_club: It’s already taking too much time

Geo: yea lol

ML | Satoshi Club: One day it will happen)

Serg | Satoshi Club: I hope to live and see that day 😁

ML | Satoshi Club: By the way, how big is your developers team?

Geo: We have a team of 5 very skilled solidity developers

ML | Satoshi Club: Nice:+1: So, everything moves fast

Geo: That’s the goal

Q5 from Telegram Username @kartika84

Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global; how does the #UNILAYER team deal with these issues?

Geo: There can’t be regulation on a truly decentralized app, the project aims to full decentralization, so not even me or anybody from my team will be able to disrupt the smart contracts that we have in place for all of the features in our platform, we will however ensure that we deliver a great and SAFE product so we will have audits done to the code to make sure is safe to launch before we launch UniLayer to the public.

Take Uniswap for example

ML | Satoshi Club: Yes, you are right. Btw, has your code been audited?

Geo: Not yet, but it will be once we release our beta

ML | Satoshi Club: When do you expect beta release?:grinning:

Geo: We have it set in our roadmap for late September, but it could be sooner than that you never know 🙂

Serg | Satoshi Club: based on your speed, I would say sooner 😀

ML | Satoshi Club: Wow, it’s close:grinning:

Q6 from Telegram user @whoosylady

UniLayer is another project focused on Uniswap. What is your utility beside that? What happens with UniLayer if Uniswap disappears tomorrow?

Geo: We have added a lot of utility to uniswap by the things I have mentioned before, Uniswap is not going anywhere, people are starting to realize that decentralized apps are the way to go, we are the the very start of something great, and the only way we can ensure adoption of dapps is by making it easier for the average joe to dive in! and that’s what we’re doing with UniLayer.

Serg | Satoshi Club: agreed, but the average Joe also should pay less taxes in order to exchange the tokens 🙂

ML | Satoshi Club: So, you are planning to work just with Uniswap? Now, we have Mooniswap, for example

Geo: We would love to work with Uniswap, but first we need to get the app out to the public then we can explore those avenues 🙂

Serg | Satoshi Club: I don’t like the fees on uniswap now, on eth in general

Geo: Very true lol!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @DiegoRME

Can you list 1-3 killer features of UNILAYER that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Geo: Lending, Flash Staking and the UniLayer lauchpad. The launchpad is definitely something I am VERY excited about

Q2 from Telegram user @annasmirnn

What kind of terms & conditions are there registering on UniLayer? Does it require KYC for trading & withdrawals?

Geo: No KYC, fully decentralized just like Uniswap 🙂

Q3 from Telegram user @ngoccam

LIQUIDITY and SECURITY are big problem of many trading platforms, so how will Unilayer solve these matters to ensure for secure and liquidity quickly for traders and attracted more users?

Geo: Since we are building on top of Uniswap we will be using their liquidity pools from day one, as far as security we will have security audits before we launch the app to make sure is safe

Q4 from Telegram user @buduh11

What is the long term marketing strategy being implemented by your team?

Geo: We have a lot of connections in the crypto space so expect some influencers and youtubers to start talking about Unilayer one the app is launched to the public 🙂

Q5 from Telegram user @thaiquoc

Do you have a plan to listing $LAYER in a major exchanges? Is there a big factor in the development of a UniLayer project by listing their token on an exchange?

Geo: Yes we are currently talking to some exchanges that are very reputable and good.

Q6 from Telegram user @AC7878

How does Unilayer generate revenue for project development?

Geo: For each trade that takes place in the Unilayer platform we collect a fee on ETH, 92% of that ETH collected goes to the people that are staking LAYER in our platform, the other 8% goes to our foundation as a reserve.

Q7 from Telegram user @LleeKuanYew

Southeast Asia is a very vibrant market and most projects are competing campaigns here to entice users and grow, with UNILAYER you see how Southeast Asia is and do you plan to develop & expanding here?

Geo: We are actually in talks with a crypto PR firm that can facilitate that for us 🙂

Q8 from Telegram user @aciuea

What do you think is holding the DeFi space back? What is preventing the mass adoption of DeFi products?

Geo: Personally I think is just that is simply too hard for the average joe to use. Tools like metamask has made things a lot easier but we still need to come up with more creative ways to make it easier for the regular folk to start using DeFi and dapps. UniLayer is bringing in a lot of those trading tools that you would normally see in a regular exchange to Uniswap such as charts, order books, limit orders and much more, little steps like these can go a very long way.

Q9 from Telegram user @spectrej

Staking and mining is very popular today as incentives for the investors, does $LAYER support any and what are the requirements and benefits?

Geo: Flash Staking will be available shortly after the full app launch, you will get rewards instantly after you lock in your LAYER tokens for a set period of time 30 days or more

Q10 from Telegram user @Sonjou99

Could you please shortly explain about the top milestones and objectives that UniLayer is aiming to execute in the remainder of the year 2020?

Geo: Releasing the beta for the UniLayer app, getting the code audited to make sure everything is safe and launch UniLayer out to the public, after that happen we will be doing marketing to make sure we get as many users as possible.

Part 3 – Quiz Results

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

UniLayer Community: https://t.me/Unilayer

We are pleased to announce our next AMA on September 9th 2020 at 12:00 PM UTC Time: Satoshi Club x Alpha5

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Alpha5 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. 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: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Alpha5 Team will select 10 questions and answer them.

Part 3: 500$ – A quiz about Alpha5

For more details:
Alpha5 – @Alpha5_en
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on September 4th 2020 at 02:00 PM UTC Time: Satoshi Club x Sperax

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

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

Part 3: 300$ – A quiz about Sperax

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

We are pleased to announce our next AMA on August 31st 2020 at 12:00 PM UTC Time: Satoshi Club x DFK

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

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join DFK 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. 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: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. DFK Team will select 10 questions and answer them.

Part 3: 500$ – A quiz about DFK

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